Madison Area Underwater Homes
Last week Zillow released a new map showing the amount of negative equity across the country. Negative equity (also known as underwater or upside down) is when a person owes more on their mortgage than the value of the property. Luckily values in the Madison area didn’t fall near as much as many parts of the country, and we are in much better shape than many areas. The number of homes with negative equity ranges from 11% in some of the suburban markets to 33% downtown. You can see from the map that Verona, Middleton, Cottage Grove, and the near west side of Madison have the fewest upside down homes. The good news in Wisconsin is; the WRA (Wisconsin Realtors Association) Is reporting improved sales and prices in April.
See where your neighborhood rates on Zillow’s nationwide map.