KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market
Real Estate

Till equity do us part? Prices prompt moves

As home prices rise across the country, some unhappy couples are seeing it as an opportunity to part ways without losing a ton of money from their real estate assets, according to an article at RISMedia.

Divorce attorneys and real estate professionals are reporting an upswing in clients who are divorcing.

"So many couples have been living together and biding their time," said Leigh Sigman, an Orlando lawyer. "I know many people who have coasted for years and only touched base with me periodically - until they got equity in their homes."

During the housing market crash, home prices fell dramatically in some areas, causing the home in a marriage to become one asset that no one wanted in a divorce because of the large amount of mortgage debt it carried, according to Sigman.

But some metros are seeing that as home values rise, divorce rates are too.
"I have seen many of the deals we're doing have involved a divorce - selling a house because of it or buying because of it," said Robert Tenaglia, a real estate professional in Orlando. "When people don't have equity and don't have money, it dissuades them from going through the final step."

Many couples may need the equity from the house sale to cover the costs of starting a new life and for a down payment on a new home or an apartment deposit, Tenaglia said.

Top Stories

  • Joining the LOB
    It's never easy being the new guy, but Tharold Simon is already making his mark

  • Smartphone Safety
    Our phones entertain us, inform us and now might protect us

  • Pumpkin Assault
    Pumpkin-flavored items are coming to store shelves whether it's fall or not
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Listen to the show
Hear Real Estate Today on KIRO Radio
Join Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.

Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.