Underwater homes are not sea-based wonderlands or the lairs of criminal masterminds. Instead, they are homes bought for a price that was higher than the current worth. In turn, those with these underwater homes are trapped by huge mortgages and much lower value. And unfortunately, due to the boom seen in the latter half of the last decade, these underwater homes have caused a flood.

Currently it is estimated that over three-quarters of all homes bought in the last five years come into this category, meaning that millions of people are facing issues when it comes to sell their homes. In some cases, the disparity is amounting to many tens of thousands of pounds, and the problem is also being exacerbated by the areas people live in.

The problem may not be a long term one, but with such turbulent housing markets the full scale still remains to be seen. However, it is not all doom and gloom. The markets will one day change, and it simply means that those looking to sell their homes in areas affected by these ‘underwater’ prices are simply confined to looking at houses in equally affected areas. However, with so many areas affected, for many this means that there might not even be a problem at all.

Finding local estate agents with a strong knowledge of not only the local housing market but also the national one will be the best first step. Using estate agent reviews to find those with the most knowledge and the best skills will make not only selling the house easier, but it will also make understanding the potential options easier too.

Local estate agents are going to be best placed to sell any home and estate agent reviews are going to be very important in choosing between those who talk a good game and those who can actually deliver.