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Zillow report: 45% of ’06 buyers underwater

Real estate technology brief

Real estate technology company Zillow released a market report this month revealing that 29.1 percent of homeowners who purchased in the past five years owe more on their mortgage than their homes are worth. The company also reported that about 45 percent of those who bought at the national market peak in 2006 now have negative equity, and about 60 percent of homeowners in the Western region of the country who purchased in 2006 are now underwater. Also, Zillow announced this week that Chicago-based Baird & Warner has agreed to share property listings information for display at the Zillow.com site. Zillow has hundreds of partners who are sharing listings with the site since Zillow began to accept listings feeds in November 2007, and the site now offers information for over 3 million for-sale properties. Baird & Warner has 32 offices and 2,000 sales professionals in the Chicago area. *** What's your opinion? Leave your comments below or send a letter to the editor. To contac...

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