Some of you may have heard that Zillow came out with their real estate market reports last week. I’m just a wee bit slow in getting to this because I installed Google’s webmaster on my blog, and found so many broken links that are making my head spin…
Anyway…now that I have a plan for fixing my broken links in-between actually working with real live people, I can get back into my posting routine.
So last week, Zillow announced their top cities where home owners were underwater. According to Zillow, Bend, then Medford, then Portland have the most homeowners underwater here in Oregon.
According to the data crunchers at Zillow 12.9% of homeowners who purchased a home in 2009 in the Salem Oregon MSA (Metropolitan Service Area) are already underwater: they have negative equity already according to Zillow. I can see that for $350,000+ homes, but the homes under $200,000 are still selling fairly well.
According to Zillow, the Salem Oregon real estate market peaked in the second quarter of 2007, which is pretty much how I see it too. According to the big Z, the Salem Oregon real estate market is off 13.1% since then. Honestly, pretty close.
It’s getting towards the middle of the month, and so I’ll get those monthly market reports cranked out here in the next few days.