Zillow: Many in area owe more than home is worth

Larry O. Doss Friday, May 8, 2009

Zillow: Many in area owe more than home is worth


Home values in El Dorado, Placer, Sacramento and Yolo counties dropped by $7.3 billion in the first three months of 2009 and have lost $40 billion in the past year, according to online real estate evaluator Zillow.com.

The Seattle firm estimates that 35.4 percent of homeowners in the four-county area now owe more on their mortgages than their homes are worth.

That’s up from 33.9 percent in the fourth quarter of 2008, according to Zillow.

It’s worst for those who bought in the past five years. Zillow said 68 percent of those Sacramento-area homeowners have negative equity.

In Yuba and Sutter counties, 78 percent of those who bought in the past five years owe more than their homes are worth, Zillow reported.

– Jim Wasserman

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Based on information from the Humboldt Association of REALTORS®, as of 01/21/2022. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be verified by broker or MLS for accuracy. All information should be independently reviewed and verified of accuracy. Properties may or may not be listed by the office/agent presenting the information. Copyright ©2020 Humboldt Association of Realtors®. All rights reserved.