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The market with the biggest gains in home values since 2009 is in one of the states hit hardest by the housing slump: Florida.
Zillow researched the 1,000 largest U.S. cities in a survey for Bloomberg Businessweek and found that Weston, Fla., a suburb of Miami-Ft. Lauderdale, had a 15.1 percent increase. The suburb is known to sports fans as the home of Hanley Ramirez of the Florida Marlins and former White Sox player Jose Canseco. Median sales price at the end of August was $335,000. Population is just over 65,000.
Taking second place in the survey is Arlington, Mass., a pricey suburb of Boston, with a 14.8 percent increase. Median home values here were $475,800 in August. The town has a high median income and is historically famous for being part of Paul Revere's ride.
The metro area that popped up most often on the list is Washington, D.C., where several suburbs saw an increase. Other metro areas on the list are Cincinnati, Ohio, and Kalamazoo, Mich.
Home values were measured from February 2009 to August 2011. During that period, median home values nationwide dropped by 9.9 percent.
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Could someone tell me if there is a plan that would help bundle 2nd mortgage with an underwater 1st mortgage. I want to take advantage of the low rates.
Bill