Home | Newsletter | Advertise
loading...

24 Percent of DC Homeowners Have Negative Equity

  • May 6th 2009

by Mark Wellborn

✉️ Want to forward this article? Click here.

Zillow.com announced in a recently released report that one in five U.S. homeowners owes the bank more than their home is worth. The report also noted that 23.9 percent of homeowners in the DC area have negative equity.

The news of the large percentage of “underwater” borrowers was released just days after indications that dropping prices are making homes more affordable for first-time buyers. Despite that good news, it appears that homeowners who bought a property in the last couple years with a small down payment, have almost no equity in their homes.

24 Percent of DC Homeowners Have Negative Equity: Figure 1
Courtesy of Zillow

The Zillow Real Estate Market Report, which tracks 161 metropolitan statistical areas in the U.S., also showed that home values in the country dropped for the ninth consecutive quarter, declining 14.2 percent from a year ago, and falling 21.8 percent since the market peak in 2006.

For the full report, click here.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/24_percent_of_dc_homeowners_have_negative_equity/880.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse