A new meaning to underwater homes

In recent years, we have become only too familiar with the term "underwater" - meaning homes with mortgages greater than their market value.

Today, that term has a more realistic meaning. Nearly 2 million U.S. homes would be lost if the oceans rise by 6 feet as scientists expect by the year 2100, according to a new Zillow analysis.

The endangered homes represent just under 2 percent of the national housing stock, and are worth a cumulative $882 billion. Here is a portion of the Zillow report:

"New research published in the scientific journal Nature found that sea levels could rise 6 feet by the year 2100, mostly due to melting Antarctic ice sheets. This new estimate nearly doubles previous expectations for rising oceans."

Using data from the National Oceanic and Atmospheric Administration, the report identified which homes would be affected by the predicted 6-foot rise in ocean levels.

"More than half of all homes that would be lost are in Florida, and they account for nearly half of the lost housing value as well. In all, one in eight Florida homes would be lost. More than 9 percent of homes in Hawaii would be underwater; 81 percent of those are in the capital city of Honolulu.

"Thirty-six coastal cities would be entirely underwater, and nearly 300 cities would lose at least half their homes.

"The at-risk homes along the waterfront are 58 percent more valuable than the average U.S. home. The biggest difference in home values is in Maine, where homes at the water's edge are worth $436,798, more than three times the statewide median home value of $138,900. By contrast, homes at risk of rising oceans are less valuable than the typical home in Hawaii, Maryland, Washington and Oregon."

Home security techniques

High-priced home security systems are being promoted in a variety of ways. In many cases, they just aren't worth the cost, in my opinion.

I recently received several automated phone calls saying "This is an urgent alert call. There have been several home burglaries in your area."

After listening to it, I discovered it was nothing than another promotion for a home security system.

Actually, there are very effective steps you can take that can effectively secure your home, at no or very little expense. Here are a few tips suggested by Wikipedia:

"Home security is something applicable to all of us and involves the security hardware in place on a property, and personal security practices. The hardware would be the doors, locks, alarm systems, lighting, motion detectors and security cameras systems that are installed on your property.

"Personal security practices would be ensuring doors are locked, alarms activated, windows closed, extra keys not hidden outside and many other routine tasks which act to prevent a burglary. According to an FBI report, 58.3 percent of burglaries involved forcible entry."

The report also points out what a home burglar looks for and how long it takes to carry out the crime.

"A typical burglary lasts for about 8 to 12 minutes and on average a burglar will break into a home within 60 seconds. Home security can be strengthened by adding a first line of defense like a thorny shrub or bush to give the burglar a hard time.

"In order to protect the entry points, we need to have window and door sensors. Once a burglar gets past the second line of defense, motion detectors kick in. Common security methods include never hiding extra keys outside, never turning off all the lights, applying small (security company) stickers on doors, and keeping good tabs with neighbors."

Q. Is the delinquency rate for mortgages still a problem?

A. Yes, but its improving rapidly. Here's a portion of a recent release on that subject:

"The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased 11 basis points to a seasonally adjusted rate of 4.66 percent of all loans outstanding at the end of the second quarter of 2016. This was the lowest level since the second quarter of 2006.

"The delinquency rate was 64 basis points lower than one year ago, according to the Mortgage Bankers Association's National Delinquency Survey.

"The percentage of loans on which foreclosure actions were started during the second quarter was 0.32 percent, a decrease of three basis points from the previous quarter, and down eight basis points from one year ago. This foreclosure starts rate was at its lowest level since the second quarter of 2000."

• Email Jim Woodard at storyjim@aol.com.

© 2016, Creators Syndicate