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Patrick O'donnell's Blog

By Patrick O'donnell | Agent in Quincy, MA

Boston Area Homeowners Still Struggling, According to the Zillow Negative Equity Report

Zillow, a real estate research company, recently put out its first quarter Zillow Negative Equity Report, and it had some bad news for homeowners in the Boston area. Although the percentage of people who are upside down on their homes is smaller than the national figure – 22% versus 31.4% – the average negative equity for Boston area homeowners is greater than the national figure – $85,000 versus $75,644.

Some Boston area communities are struggling more than others. In Brockton, 53% of homeowners are underwater. In Chelsea, 46% are underwater, and in Randolph, 42% are underwater. According to the report, Worcester County is the county with the highest rate of underwater homes in the state, at 30%.

If you are one of these Boston area homeowners upside down on your home, Quincy Mass Homes can help. We specialize in helping people get out from under their underwater homes, so contact us today!

Patrick O’Donnell REALTOR®, CBR has extensive experience and expertise in the Quincy, Weymouth, and Braintree real estate markets that will benefit you whether you are looking to buy or sell a home in the area. Buying or selling a home is one of the most important things you will ever do, and we can help make that experience as smooth and successful as possible.

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