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

baltimoresun.com

Number underwater drops below 30 percent

By Steve Kilar

The Baltimore Sun

1:55 PM EST, November 15, 2012

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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:

ZIPGeographyCounty# homes underwater% homes underwater
 United States 1400758328.2%
 Baltimore metro 15045528.1%
20711LothianAnne Arundel22717.6%
20733ChurchtonAnne Arundel19325.2%
20751DealeAnne Arundel14523.0%
20758FriendshipAnne Arundel127.7%
20759FultonHoward16219.1%
20763SavageHoward9131.9%
20764Shady SideAnne Arundel27322.8%
20765GalesvilleAnne Arundel1211.4%
20776HarwoodAnne Arundel7610.8%
20777HighlandHoward9011.0%
20778West RiverAnne Arundel11019.5%
20779Tracys LandingAnne Arundel3611.8%
20794JessupHoward54629.9%
21001AberdeenHarford151136.1%
21009AbingdonHarford283634.1%
21012ArnoldAnne Arundel96517.6%
21013BaldwinBaltimore1059.5%
21014Bel AirHarford147117.8%
21015Bel AirHarford114916.7%
21017BelcampHarford78745.3%
21028ChurchvilleHarford14419.3%
21029ClarksvilleHoward2308.5%
21030CockeysvilleBaltimore72820.6%
21032CrownsvilleAnne Arundel50221.8%
21034DarlingtonHarford13520.4%
21035DavidsonvilleAnne Arundel23512.0%
21036DaytonHoward367.5%
21037EdgewaterAnne Arundel112220.3%
21040EdgewoodHarford220644.9%
21042Ellicott CityHoward7758.7%
21043Ellicott CityHoward142915.9%
21044ColumbiaHoward188721.9%
21045ColumbiaHoward220225.1%
21046ColumbiaHoward84323.5%
21047FallstonHarford36513.1%
21048FinksburgCarroll45318.0%
21050Forest HillHarford68715.5%
21051HydesBaltimore79.4%
21052Fort HowardBaltimore3241.7%
21053FreelandBaltimore9513.5%
21054GambrillsAnne Arundel59522.8%
21056Gibson IslandAnne Arundel00.0%
21057Glen ArmBaltimore869.8%
21060Glen BurnieAnne Arundel236237.9%
21061Glen BurnieAnne Arundel310736.0%
21071GlyndonBaltimore3024.1%
21074HampsteadCarroll99927.1%
21075ElkridgeHoward176829.3%
21076HanoverAnne Arundel104432.3%
21077HarmansAnne Arundel1531.5%
21078Havre de GraceHarford106829.1%
21082HydesBaltimore2618.7%
21084JarrettsvilleHarford27715.1%
21085JoppaHarford100926.8%
21087KingsvilleBaltimore14912.7%
21090Linthicum HeightsAnne Arundel55625.5%
21093Lutherville TimoniumBaltimore115414.1%
21102ManchesterCarroll73526.6%
21104MarriottsvilleHoward14112.5%
21108Glen BurnieAnne Arundel86020.7%
21111MonktonBaltimore14112.5%
21113OdentonAnne Arundel288238.3%
21114CroftonAnne Arundel202130.4%
21117Owings MillsBaltimore451842.0%
21120ParktonBaltimore21913.1%
21122PasadenaAnne Arundel423627.8%
21128Perry HallBaltimore82825.5%
21131PhoenixBaltimore21212.0%
21132PylesvilleHarford10517.7%
21133RandallstownBaltimore294143.8%
21136ReisterstownBaltimore225429.9%
21140RivaAnne Arundel15215.2%
21144SevernAnne Arundel223431.7%
21146Severna ParkAnne Arundel85513.2%
21152Sparks GlencoeBaltimore22117.0%
21153Lutherville TimoniumBaltimore814.2%
21154StreetHarford27119.8%
21155UppercoBaltimore7315.0%
21156KingsvilleBaltimore78.2%
21157WestminsterCarroll169822.0%
21158WestminsterCarroll129327.6%
21160WhitefordHarford11021.8%
21161WhitehallHarford18914.9%
21162White MarshBaltimore18022.0%
21163WoodstockHoward27115.8%
21201BaltimoreBaltimore City30139.3%
21202BaltimoreBaltimore City64043.6%
21204TowsonBaltimore41316.3%
21205BaltimoreBaltimore City58345.1%
21206BaltimoreBaltimore City372838.3%
21207LochearnBaltimore355039.4%
21208PikesvilleBaltimore204029.8%
21209BaltimoreBaltimore City108522.6%
21210BaltimoreBaltimore City32215.2%
21211BaltimoreBaltimore City111532.4%
21212BaltimoreBaltimore City158623.1%
21213BaltimoreBaltimore City226946.0%
21214BaltimoreBaltimore City169534.8%
21215BaltimoreBaltimore City293335.3%
21216BaltimoreBaltimore City142034.7%
21217BaltimoreBaltimore City114634.7%
21218BaltimoreBaltimore City220633.6%
21219EdgemereBaltimore43022.1%
21220Middle RiverBaltimore261735.9%
21221EssexBaltimore229733.0%
21222DundalkBaltimore366637.2%
21223BaltimoreBaltimore City98045.4%
21224BaltimoreBaltimore City332539.0%
21225Brooklyn ParkAnne Arundel174040.1%
21226BaltimoreBaltimore City61941.6%
21227HalethorpeBaltimore200932.6%
21228CatonsvilleBaltimore232523.1%
21229BaltimoreBaltimore City293237.0%
21230BaltimoreBaltimore City267540.3%
21231BaltimoreBaltimore City74134.7%
21234ParkvilleBaltimore417331.2%
21236NottinghamBaltimore231827.5%
21237RosedaleBaltimore203235.4%
21239BaltimoreBaltimore City188035.1%
21244Windsor MillBaltimore274948.0%
21286TowsonBaltimore67019.3%
21401AnnapolisAnne Arundel143920.2%
21403AnnapolisAnne Arundel149023.2%
21405AnnapolisAnne Arundel1613.8%
21409AnnapolisAnne Arundel94418.4%
21607BarclayQueen Annes2117.9%
21617CentrevilleQueen Annes60726.5%
21619ChesterQueen Annes38024.2%
21623Church HillQueen Annes14134.3%
21628CentrevilleQueen Annes1513.5%
21638GrasonvilleQueen Annes29624.5%
21644InglesideQueen Annes833.3%
21657Queen AnneQueen Annes3320.0%
21658QueenstownQueen Annes16917.7%
21666StevensvilleQueen Annes69620.4%
21668SudlersvilleQueen Annes10531.5%
21723CooksvilleHoward3216.6%
21737GlenelgHoward3810.9%
21738GlenwoodHoward8410.2%
21757KeymarCarroll15625.8%
21762Union BridgeCarroll513.8%
21771Mount AiryCarroll134118.1%
21776New WindsorCarroll30022.5%
21784SykesvilleCarroll154317.3%
21787TaneytownCarroll66528.5%
21791Union BridgeCarroll26023.7%
21794West FriendshipHoward5810.3%
21797WoodbineHoward24611.9%

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