Chicago’s Underwater Mortgages Falls

CHICAGO - June 15, 2015 - PRLog -- Underwater mortgages are those mortgages that are not being paid. Since the crash of the real estate market there have been several homeowners that are said to be underwater in their mortgages. This is why any news that shows the decrease in home mortgages that are underwater is always a welcoming news! According to Zillow, during the first quarter of 2015 there is a notable decrease in mortgages that are underwater and Chicago is among those that had a significant decrease in underwater mortgages.

According the latest data gathered by Zillow there is a remarkable decrease in the United States’ underwater mortgages. Las Vegas is in the top with the most homeowners with underwater mortgages at about 25 percent. Chicago on the other hand is in second place at 23.7 percent however this is an improvement from the same quarter in 2014 with 28.1 percent. It just goes to show that the real estate industry is slowly coping and that homeowners now have the capacity to pay for their mortgages.

The assumption that the there is an increased momentum in the real estate industry is corroborated by the fact that there is also an increase in the buying of new homes. Not only that, the home inventory in Chicago is continuously declining which means there are more people buying as compared to the supply of home for sale in the real estate market.

This is why many are starting to feel confident in buying or in selling their homes. Some have even tried to sell their home as an FSBO using only the flat fee mls services. The emergence of this type of service in Chicago is helping FSBO’s sell their properties a lot faster than having to have it stay in the market for too long. This might also have been a contributing factor to the decline of home inventory in Chicago.

If you are an FSBO and you would like to take advantage of the booming real estate industry. Then using a flat fee mls service might just help you sell your property a lot faster. Should you be interested here is a great site to know more about flat fee mls service http://www.flatfeechicagomls.com/