Number underwater drops below 30 percent

www.baltimoresun.com/business/real-estate/wonk/bs-re-number-underwater-drops-below-30-percent-20121115,0,901718.story

The percentage of homeowners with underwater mortgages in metro Baltimore has dropped below 30 percent, according to data released Thursday by real estate search and number crunching website Zillow.

The share of mortgage holders in negative equity declined to 28.1 percent in the third quarter of the year, a statement from the website said. In the second quarter, 30.8 percent of homeowners with mortgages were underwater, it said. The numbers are in line with the national trend, which declined from 30.9 percent to 28.2 percent from the second to third quarter.

In metro Baltimore, there are about 150,500 homes that are underwater, for a total negative equity amount of $11.2 billion, Zillow said. About half of those homes are underwater by 20 percent or less, according to the site’s data.

“The fall in negative equity rates means homeowners have additional options for refinancing or selling their homes,” said Stan Humphries, Zillow’s chief economist. “The housing market has found real momentum of its own, but is not immune from shocks to the broader economy. If negotiations centered on resolving the fiscal cliff don’t inspire confidence in investors and consumers alike, recent home value gains — and, as a result, falling negative equity rates — could stall.”

Zillow's underwater statistics divided by ZIP code for the Baltimore region are listed below:

ZIP	Geography	County	# homes underwater	% homes underwater
	United States		14007583	28.2%
	Baltimore metro		150455	28.1%
20711	Lothian	Anne Arundel	227	17.6%
20733	Churchton	Anne Arundel	193	25.2%
20751	Deale	Anne Arundel	145	23.0%
20758	Friendship	Anne Arundel	12	7.7%
20759	Fulton	Howard	162	19.1%
20763	Savage	Howard	91	31.9%
20764	Shady Side	Anne Arundel	273	22.8%
20765	Galesville	Anne Arundel	12	11.4%
20776	Harwood	Anne Arundel	76	10.8%
20777	Highland	Howard	90	11.0%
20778	West River	Anne Arundel	110	19.5%
20779	Tracys Landing	Anne Arundel	36	11.8%
20794	Jessup	Howard	546	29.9%
21001	Aberdeen	Harford	1511	36.1%
21009	Abingdon	Harford	2836	34.1%
21012	Arnold	Anne Arundel	965	17.6%
21013	Baldwin	Baltimore	105	9.5%
21014	Bel Air	Harford	1471	17.8%
21015	Bel Air	Harford	1149	16.7%
21017	Belcamp	Harford	787	45.3%
21028	Churchville	Harford	144	19.3%
21029	Clarksville	Howard	230	8.5%
21030	Cockeysville	Baltimore	728	20.6%
21032	Crownsville	Anne Arundel	502	21.8%
21034	Darlington	Harford	135	20.4%
21035	Davidsonville	Anne Arundel	235	12.0%
21036	Dayton	Howard	36	7.5%
21037	Edgewater	Anne Arundel	1122	20.3%
21040	Edgewood	Harford	2206	44.9%
21042	Ellicott City	Howard	775	8.7%
21043	Ellicott City	Howard	1429	15.9%
21044	Columbia	Howard	1887	21.9%
21045	Columbia	Howard	2202	25.1%
21046	Columbia	Howard	843	23.5%
21047	Fallston	Harford	365	13.1%
21048	Finksburg	Carroll	453	18.0%
21050	Forest Hill	Harford	687	15.5%
21051	Hydes	Baltimore	7	9.4%
21052	Fort Howard	Baltimore	32	41.7%
21053	Freeland	Baltimore	95	13.5%
21054	Gambrills	Anne Arundel	595	22.8%
21056	Gibson Island	Anne Arundel	0	0.0%
21057	Glen Arm	Baltimore	86	9.8%
21060	Glen Burnie	Anne Arundel	2362	37.9%
21061	Glen Burnie	Anne Arundel	3107	36.0%
21071	Glyndon	Baltimore	30	24.1%
21074	Hampstead	Carroll	999	27.1%
21075	Elkridge	Howard	1768	29.3%
21076	Hanover	Anne Arundel	1044	32.3%
21077	Harmans	Anne Arundel	15	31.5%
21078	Havre de Grace	Harford	1068	29.1%
21082	Hydes	Baltimore	26	18.7%
21084	Jarrettsville	Harford	277	15.1%
21085	Joppa	Harford	1009	26.8%
21087	Kingsville	Baltimore	149	12.7%
21090	Linthicum Heights	Anne Arundel	556	25.5%
21093	Lutherville Timonium	Baltimore	1154	14.1%
21102	Manchester	Carroll	735	26.6%
21104	Marriottsville	Howard	141	12.5%
21108	Glen Burnie	Anne Arundel	860	20.7%
21111	Monkton	Baltimore	141	12.5%
21113	Odenton	Anne Arundel	2882	38.3%
21114	Crofton	Anne Arundel	2021	30.4%
21117	Owings Mills	Baltimore	4518	42.0%
21120	Parkton	Baltimore	219	13.1%
21122	Pasadena	Anne Arundel	4236	27.8%
21128	Perry Hall	Baltimore	828	25.5%
21131	Phoenix	Baltimore	212	12.0%
21132	Pylesville	Harford	105	17.7%
21133	Randallstown	Baltimore	2941	43.8%
21136	Reisterstown	Baltimore	2254	29.9%
21140	Riva	Anne Arundel	152	15.2%
21144	Severn	Anne Arundel	2234	31.7%
21146	Severna Park	Anne Arundel	855	13.2%
21152	Sparks Glencoe	Baltimore	221	17.0%
21153	Lutherville Timonium	Baltimore	8	14.2%
21154	Street	Harford	271	19.8%
21155	Upperco	Baltimore	73	15.0%
21156	Kingsville	Baltimore	7	8.2%
21157	Westminster	Carroll	1698	22.0%
21158	Westminster	Carroll	1293	27.6%
21160	Whiteford	Harford	110	21.8%
21161	Whitehall	Harford	189	14.9%
21162	White Marsh	Baltimore	180	22.0%
21163	Woodstock	Howard	271	15.8%
21201	Baltimore	Baltimore City	301	39.3%
21202	Baltimore	Baltimore City	640	43.6%
21204	Towson	Baltimore	413	16.3%
21205	Baltimore	Baltimore City	583	45.1%
21206	Baltimore	Baltimore City	3728	38.3%
21207	Lochearn	Baltimore	3550	39.4%
21208	Pikesville	Baltimore	2040	29.8%
21209	Baltimore	Baltimore City	1085	22.6%
21210	Baltimore	Baltimore City	322	15.2%
21211	Baltimore	Baltimore City	1115	32.4%
21212	Baltimore	Baltimore City	1586	23.1%
21213	Baltimore	Baltimore City	2269	46.0%
21214	Baltimore	Baltimore City	1695	34.8%
21215	Baltimore	Baltimore City	2933	35.3%
21216	Baltimore	Baltimore City	1420	34.7%
21217	Baltimore	Baltimore City	1146	34.7%
21218	Baltimore	Baltimore City	2206	33.6%
21219	Edgemere	Baltimore	430	22.1%
21220	Middle River	Baltimore	2617	35.9%
21221	Essex	Baltimore	2297	33.0%
21222	Dundalk	Baltimore	3666	37.2%
21223	Baltimore	Baltimore City	980	45.4%
21224	Baltimore	Baltimore City	3325	39.0%
21225	Brooklyn Park	Anne Arundel	1740	40.1%
21226	Baltimore	Baltimore City	619	41.6%
21227	Halethorpe	Baltimore	2009	32.6%
21228	Catonsville	Baltimore	2325	23.1%
21229	Baltimore	Baltimore City	2932	37.0%
21230	Baltimore	Baltimore City	2675	40.3%
21231	Baltimore	Baltimore City	741	34.7%
21234	Parkville	Baltimore	4173	31.2%
21236	Nottingham	Baltimore	2318	27.5%
21237	Rosedale	Baltimore	2032	35.4%
21239	Baltimore	Baltimore City	1880	35.1%
21244	Windsor Mill	Baltimore	2749	48.0%
21286	Towson	Baltimore	670	19.3%
21401	Annapolis	Anne Arundel	1439	20.2%
21403	Annapolis	Anne Arundel	1490	23.2%
21405	Annapolis	Anne Arundel	16	13.8%
21409	Annapolis	Anne Arundel	944	18.4%
21607	Barclay	Queen Annes	21	17.9%
21617	Centreville	Queen Annes	607	26.5%
21619	Chester	Queen Annes	380	24.2%
21623	Church Hill	Queen Annes	141	34.3%
21628	Centreville	Queen Annes	15	13.5%
21638	Grasonville	Queen Annes	296	24.5%
21644	Ingleside	Queen Annes	8	33.3%
21657	Queen Anne	Queen Annes	33	20.0%
21658	Queenstown	Queen Annes	169	17.7%
21666	Stevensville	Queen Annes	696	20.4%
21668	Sudlersville	Queen Annes	105	31.5%
21723	Cooksville	Howard	32	16.6%
21737	Glenelg	Howard	38	10.9%
21738	Glenwood	Howard	84	10.2%
21757	Keymar	Carroll	156	25.8%
21762	Union Bridge	Carroll	5	13.8%
21771	Mount Airy	Carroll	1341	18.1%
21776	New Windsor	Carroll	300	22.5%
21784	Sykesville	Carroll	1543	17.3%
21787	Taneytown	Carroll	665	28.5%
21791	Union Bridge	Carroll	260	23.7%
21794	West Friendship	Howard	58	10.3%
21797	Woodbine	Howard	246	11.9%

Have a real estate news tip or experience to share? Email me at steve.kilar@baltsun.com.