You hear it everywhere, on the cable news channels, newspapers and the Internet, that 25% of allÂ American households areÂ underwater with their mortgages.Â What does that mean?
Â It means that 75% of all American households are:
Â Â NOT UPSIDE DOWNNOT BEING FORECLOSED
This is not to say it doesn't exist, because it does, but,Â I just want toÂ put itÂ into perspective.Â In Fort Walton Beach, there are currently 16 single familyÂ homes that have been foreclosed on by the banks, 3 are in foreclosure, and 8 are in pre-foreclosure.
If we took All the foreclosures being reported today, they would fitÂ into the populations of theÂ cities ofÂ New York City and Los Angeles, two of our most populous cites.Â That would leave the rest of the United States and it's 30,000 + cities functioning and affluent.
The sky is not falling, real estate is putting the nations economy on the road to recovery and people are still buying homes.Â There are 107 single familyÂ properties under contract in Fort Walton Beach alone right now.Â Including the surrounding area within a 50 mile radius there are over 1100 properties that are under contract with new homebuyers just waiting to close!
Real estate is local in nature, FWB cannot be compared to Las Vegas, so always rely on a local REALTOR for your real estate information, and not cable news.
My glass is 3/4 full how about yours?
Got a real estate question you'd like answered? Ask me, I'm here to help.Karen Butler,Â Â REALTOR Â Â Karen@KarenButler.com Â 850-830-8780Â Â Â Â www.KarenButler.com Â Â Â Â
Coldwell Banker United RealtorsÂ Â Â Military Specialist Â Â Â Â Â 20 Years - USAF Retired Â Contract Negotiation Specialist
Trusted Community Advisor Â 1st TimeÂ Home Buyer/SellerÂ Â CounselorÂ Â Â Â Â Short Sale & ForeclosureÂ Resource Â Â Â Â Senior Real Estate Specialist, SRES Â
Â Accredited Buyer Specialist, ABR Â Mortgage Pre Approval Resource