Feb. 8 at 11:02 p.m.
Filed under:
Real estate
By Mary Ellen Podmolik
Almost two of every five owners of single-family, detached homes in the Chicago area were underwater on their mortgage in December, an all-time high and far outpacing national trends, according to data to be released by Zillow.com Wednesday.
The realty Web site found that 38.6 percent of all single-family detached homes with a mortgage had negative equity, meaning homeowners owed more on the homes than the properties were worth in the fourth quarter, compared with 32.9 percent in the third and 28.3 percent a year earlier. Nationally, the negative equity rate was 27 percent in the fourth quarter, up from 23.2 percent in the third quarter. Get the full story »
Dec. 13, 2010 at 8:48 a.m.
Filed under:
Real estate
By Mary Ellen Podmolik
An index that measures how many homeowners are underwater on their mortgages fell for the third consecutive quarter but the decrease was more attributed to completed foreclosures than any gain in home values.
About 10.8 million U.S. homes, or 22.5 percent of all homes with mortgages had negative equity, meaning the homeowner owed more on the mortgage than the home was worth at the end of the third quarter, data provider CoreLogic said Monday. That compares with 11 million properties, or 23 percent of all homes in the second quarter. Get the full story »
Nov. 10, 2010 at 12:01 a.m.
Filed under:
Housing,
Mortgages,
Real estate
By Mary Ellen Podmolik
A home with price reduction on the market in October. (Reuters)
The number of Chicago-area homes with negative equity in the Chicago area continued to rise in the year’s third quarter, a troubling sign for a local housing market struggling to recover.
Some 32.9 percent of all local single-family detached homes with mortgages were underwater in September, meaning the homeowners owed more on the loans than the properties are worth, according to new data from realty Web site Zillow.com. That compares with 30.9 percent in June and 27.2 percent in September 2009. The report does not include data on condominiums. Get the full story »
Aug. 9, 2010 at 6:52 a.m.
Filed under:
Housing,
Mortgages,
Real estate
By Mary Ellen Podmolik
Almost 29 percent of all home mortgages in the Chicago area were underwater during the year’s second quarter, an improvement from the 31.8 percent level recorded in the first quarter, Zillow reported Monday.
Still, far more mortgages locally are underwater, meaning more is owed on the loans than the homes are worth, than nationally. Zillow, an online real estate site, said the number of single-family homes nationally that are underwater was 21.5 percent in the second quarter, compared with 23.3 percent in the first quarter and 23 percent a year ago. Get the full story »
