Four Florida Cities Top RealtyTrac’s List Of Underwater Homes

RealtyTrac, a firm that specializes in tracking foreclosures and pre-foreclosures just released its list Q2 2015 list of cities with the highest number of “Seriously Underwater” homes. “Seriously Underwater”, as defined by RealtyTrac, is when the outstanding mortgage is 25% or more than the market value of the property. The good news for Key West real estate and Key West property owners is that Key West isn’t on the list.

The four Florida markets are:

There is some good news though. Nationwide, the number is down to 13.3% (more than 50%) from the high in 2012 (28.6%). The strong housing market over the past three years (especially in South Florida and Key West) has moved many owners from underwater to where they now have equity in their homes.