• psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813

23% Of Mortgages Underwater

Nearly a quarter of the nation’s homes with mortgages are valued for less than the amount their owners owe the banks holding their mortgage loans, according to a depressing new report.

The report by First American CoreLogic indicates that almost 10.7 million, or 23 percent, of all residential properties are “underwater” meaning they have negative equity. The majority of such negative-equity mortgages are in states such as Nevada, Arizona, Florida, Michigan and California.

In the Hampton Roads, VA area more than 71,500 homeowners  owed more on their mortgages than the homes were worth at the end of September, according to the report .That’s nearly one in four local mortgage borrowers -22 percent – who are “underwater” on the loans. Continue reading