1 in 8 Orange County Mortgage Holders are Underwater

Huntington Beach real estate/ Orange County real estate statistics compiled by Zillow.com for the quarter ending June 30th indicate that 1 in 8 Orange County single family homeowners are currently underwater. The good news is that this number has improved from 1 in 7 at the end of the first quarter of 2010.

To really put these numbers in perspective, there are more than 470,000 homes in the county that have a mortgage. That translates to almost 57,000 homeowners owing more on their homes then they are worth.

If we look at homes bought during the housing boom nationally at one point 4 of every 10 were underwater. At the end of the second quarter of 2010 21.5 percent of homeowners nationwide were underwater. When we combine LA and Orange Counties, the comparable number is 16.9%.

Overall the numbers both nationally and in the local Huntington Beach Real Estate market have been moving in the right direction, but we have a long way to go.

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