Betsy Pokorny
State Certified Appraiser and Consultant
Des Moines Real Estate Services
betsy@dsmappraisal.com
phone: (515) 279-9574
fax: (515) 279-9576
The number of residential properties nationwide with mortgages that were "underwater" at the end of 2009 rose by 3 million over year-end 2008, according to a First American CoreLogic report released Feb. 23. An additional 620,000 properties fell into negative equity in the fourth quarter alone, bringing to 11.3 million (or 24 percent) the 2009 total. That marks an uptick from the 23 percent represented by the 10.7 million underwater mortgages at the end of the third quarter, according to MSN Money.
Overall, the problem loans remain concentrated in five states: Nevada, with 70 percent of home mortgages underwater; followed by Arizona, with 51 percent underwater; Florida at 48 percent; Michigan at 39 percent; and California at 35 percent. Those states were in stark contrast with the lowest three: Iowa with 9 percent of home mortgages, New York with 6.3 percent and Oklahoma with 6 percent, according to MSN Money.
California (2.4 million) and Florida (2.2 million) have the largest number of negative equity mortgages, accounting for 41 percent of all negative equity loans, according to MSN Money.
Despite bleak findings in the First American CoreLogic report, a Standard & Poor's/Case-Shiller report released Feb. 23 showed that home prices increased modestly in December. The Standard & Poor's/Case-Shiller index of home prices in 20 metropolitan areas rose 0.3 percent in December, the index's seventh consecutive monthly increase, MSN Money reported.
http://www.appraisalinstitute.org/ano/current.aspx?volume=11&numbr=5/6
State Certified Appraiser and Consultant
Des Moines Real Estate Services
betsy@dsmappraisal.com
phone: (515) 279-9574
fax: (515) 279-9576
Having completed over 2,800 appraisals in the past 11 years, Betsy Pokorny and Des Moines Real Estate Services has become a trusted name for accurate, ethical, and professional valuation services. Betsy has acquired unique knowledge and valuation expertise in historic neighborhoods, vintage homes, and suburban communities.
Tanya K. and Doug J., clients
We very much appreciate your help in determining the best value for our dollar in the River Bend neighborhood! It has been very confusing try to determine the value of a property when things are changing so quickly. It was so helpful to get your professional input to cut through the emotional aspects of home buying. It really helped us get realistic about our options. I also appreciate how flexible your services are, since we couldn't afford a full blown appraisal of every property we were interested in, but the "once over" information was critical information in making our decision. We look forward to working with you again!
Jack Hatch, State Senator
"As a state senator, I sponsored, and the legislature passed in 2008, a law requiring appraisers to be registered. As a real estate developer, I know the importance of reliable and accurate appraisals and Betsy is one appraiser I always request the banks to use or I hire her directly during my pre-development phase. There is no one I trust more."
Mary C., client
I couldn't have sold my home by myself without Betsy Pokorny's help. She is extremely knowledgeable about the current and changing Des Moines metro housing market and is great to work with. She guided me through every step in the process, from initial price-setting through sale and closing. She was right on the money with property values. I highly recommend anyone who is selling their home by owner to contact Betsy and use her services. Invaluable!
Deb Buenting, Bankers Trust
"We have used Betsy Pokorny for numerous years as one of our approved appraisers. I personally have found her expertise in the Des Moines market to be invaluable. She understands the many different programs available through the City of Des Moines and Polk County, and is able to anticipate what values will be based on these programs. Her knowledge has been extremely useful during this rapidly changing mortgage industry. She is able to keep us informed of the many changes in the appraisal world, and also keeps us informed on what neighborhood values are doing. We are thankful to have such a detailed and knowledgeable appraiser on our approved list."