Number of Savannah homes ‘under water’ declines
CoreLogic, a financial data reporting firm, Wednesday released new analysis showing the number of Savannah homes with mortgages that have negative equity — the common term is under water — declined in the first quarter of 2013 compared to a year earlier.
The data indicate 30.4 percent, or 15,602, of all Savannah residential properties with a mortgage were in negative equity as of the first quarter 2013 compared to 32.5 percent, or 16,358 properties, in the fourth quarter of 2012.
An additional 7.2 percent, or 3,707 residential properties, were in near negative equity for first quarter 2013 compared to 7.4 percent, or 3,747, in fourth quarter 2012.
Nationwide, approximately 850,000 more residential properties returned to a state of positive equity during the first quarter of 2013, and the total number of mortgaged residential properties with equity currently stands at 39 million.
Nevada had the highest percentage of mortgaged properties in negative equity at 45.4 percent, followed by Florida (38.1 percent), Michigan (32 percent), Arizona (31.3 percent) and Georgia (30.5 percent). These top five states combined account for 32.8 percent of negative equity in the U.S.
Ribbon-cutting for Pooler McDonald’s
The new McDonald’s at 200 Pooler Parkway will hold ribbon-cutting ceremony and grand opening Friday beginning at 8:30 a.m.
Among other activities, the Pooler Parkway McDonald’s will present a donation of $5,000 to the “Patriot Weekend in Pooler.”
“As Pooler community members, my wife, Monique, and I want to give back to the residents in our area and to make a significant impact. This donation is just a small way to show our patriots how much we appreciate their service, both abroad and stateside,” said owner/operator John Palmaccio.
The grand opening will include a live broadcast on 94.1 “The Beat” from 4-6 p.m. along with free giveaways and an appearance by Ronald McDonald from 2-4 p.m. on Sunday.
Roundtable to feature SSU professor
The Savannah-Hilton Head CSCMP Roundtable will hold a dinner meeting Tuesday at Crosswinds Golf Club, 232 James B. Blackburn Drive, with networking at 5:30 p.m. and dinner at 6 p.m.
The guest speaker will be Katrina Savitskie, associate professor of marketing and logistics at Savannah State University.
The primary objective is to develop a minor academic track that incorporates operations, logistics, transportation and supply chain management concepts in conjunction with international business.
RSVP to Bharris@georgia.org; registrations need to be made by Friday.
The cost is $25 for CSCMP members with pre-registration. For non-members and at the door, it’s $30. Students are $15.