More Than Half of 2006 Vintage Now Underwater, Zillow Says

If you paid, say, $400,000 for your house in 2006, it might be worth $200,000 now – but that’s better than the $120,000. Job growth means more people might be house hunting, improving your odds of.

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Price declines are hurting a growing number of borrowers who bought since 2003, but none more than borrowers who bought at the peak of the nation’s housing frenzy in 2006, according to data.

Zillow estimates the negative equity rate in the Las Vegas area is 20.2 percent and more than 13 percent in the Miami and Tampa markets.

I’m surprised its that low, but its probably because the other 52% of the homes were lost to foreclosure. However this is only as reliable as Zillow’s data. Their prices are off by up to 20% about half the time in that ZIP. Being off by 20% would easily push the % of underwater homes way out of whack.

Pre-marketing on Zillow with Coming Soon listings Jersey City home values have gone up 4.4% over the past year and Zillow predicts they will rise 1.3% within the next year. The median list price per square foot in Jersey City is $452, which is higher than the New York-Newark-Jersey City Metro average of $283.

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“This is not something we would see in a normal market,” says Michael Orr, director of the Center for Real Estate Theory and Practice at Arizona State University’s W.P. Carey School of Business. After.

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The share of homeowners who owe more than their house is worth remains above 10% nationwide, according to data from Zillow’s second quarter negative equity report. zillow said Thursday that 12.1% of homeowners with a mortgage are underwater, which is down from 12.7% in the previous quarter and from 14.4% a year ago.

Its residents owe far more than their homes are worth. “It kind of sucks, because I don’t know if it will ever be worth what I paid for it,” Garcia says. According to Zillow Real Estate Research, 31.