According to a recent quarterly report by Zillow.com, 27% of homeowners owe more on their homes than their current value. That figure is up from 23.2% in the previous quarter which was also up from the prior quarter. For all of 2010, the trend continued with slightly depreciating home values and ever more homeowners facing negative equity in their homes.

Unfortunately, the ever increasing numbers of homes under water is another indicator of more foreclosures to come. Owing more than a home is worth is only second to a borrower having unaffordable payments as the reason leading to foreclosure. With the foreclosure rate indicated to be higher in 2011 than last year, this will create additional pressures on the already struggling housing industry as the market works to absorb the coming inventory of bank owned properties.

While this will likely keep housing prices somewhat stagnant for several more years, for those that are looking for a new home now and in the next few years, this continues to be the best buying opportunity that will ever exist in most peoples lives. The tremendous upside potential that exists in todays real estate market will be the foundation of many nest eggs for years to come.

If you owe more on your house than it’s worth, if you’re behind on your payments or are about to be, maybe now is the time for you to investigate the possibility of doing a short sale on your home. Our team has many years of experience in short sales and hundreds of closed transactions behind us. Call or email us today and we’ll help you get your home sold and the stress and worries behind you.