Just how bad the real estate market really is.


	Just how bad the real estate market really is.

BartendingBear

11-14-2008 2:12 AM

228 views

BartendingBear says:

One out of three sold for a loss; one in seven are "upside down", owing more than the home's value. One in five are foreclosure sales.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/eea63623-6550-4d8e-92dc-57f86e91af83/62F2286E-470A-4C04-9B55-C86BECAA317D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.inman.com/news/2008/11/12/zillow-one-third-homes-sold-a-loss" href="http://www.inman.com/news/2008/11/12/zillow-one-third-homes-sold-a-loss" style="font-size: 11px;">www.inman.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.inman.com/news/2008/11/12/zillow-one-third-homes-sold-a-loss">Wednesday, November 12, 2008.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.inman.com/news/2008/11/12/zillow-one-third-homes-sold-a-loss">Nearly one out of three homes sold in the last year was sold at a  loss, and an estimated one in seven U.S. homeowners were "upside down"  on their loans at the end of September, according an analysis of public  records in 163 markets by Zillow.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.inman.com/news/2008/11/12/zillow-one-third-homes-sold-a-loss">Zillow estimates that the  percentage of borrowers upside down -- owing more on their mortgage  than their home was worth -- was even higher among those who bought in  the last five years: 29.5 percent. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.inman.com/news/2008/11/12/zillow-one-third-homes-sold-a-loss">Nationwide, home prices have fallen 9.7 percent in the last year and 12.8 percent since the market peak in 2006, Zillow said. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.inman.com/news/2008/11/12/zillow-one-third-homes-sold-a-loss">Foreclosures  made up close to one in five transactions in the last year, Zillow  said, and more than half of sales in some distressed markets like  Merced and Stockton, Calif.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.inman.com/news/2008/11/12/zillow-one-third-homes-sold-a-loss">Looking  back five years, Zilllow reported flat or negative long-term price  appreciation in about one quarter of the markets it analyzed. </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/62F2286E-470A-4C04-9B55-C86BECAA317D/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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