Only 18% of Las Vegas Valley Homeowners Owned Their Homes Outright

Las Vegas, a city where many homeowners are deep underwater also has one of the lowest rate in the country of residents who own their homes free and clear. Only 18% of Las Vegas Valley homeowners owned their homes outright and unburdened by mortgage payments. Click Here For Informative Short Videos on Updates Regarding The Las Vegas Residential Real Estate Market

Among 30 metro areas tracked in the report, this was the third that is lowest. Washington, D.C. was the lowest at 15.5% followed by Atlanta at 17.7%

Regions with lower home values generally had higher outright ownership rates, as smaller loans are easier to more quickly pay off according to Zillow. Las Vegas bucked that trend, probably because home values plunged in recent years after many people bought their homes during the boom days. The steep drops have left people throughout the valley underwater, meaning they owe more on their mortgage than what the home is worth. If Your Interested to Know More, find a Certified Distressed Property Expert In Las Vegas Now.

According to Zillow, About 63 percent of valley homeowners with mortgages were underwater during the three months ending Sept. 30, Las Vegas had the highest rate of underwater homeowners among the 30 metro areas in the report.

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Our real estate agents have a wealth of local knowledge and experience in all the facets of residential real estate whether looking for a large custom home or a condo on the famed Las Vegas Strip - Our agents know our area the best. If you want more information, Contact The Snyder Group for a free consultation and we'll be happy to listen.

This  was drafted from  an article written by  Eli Segall  and is originally published in www.VegasInc.com to see the original article Click Here