Tagged: real estate

Update Feb. 10, 2011 - The correct percentage of area mortgage holders "underwater" - as reported by Zillow.com - is 34.3%, not of all homeowners. This post has been updated to clarify that point.

Do you owe more on your mortgage than your house is worth? You’re not alone. One-third of homeowners in King, Pierce and Snohomish counties are “underwater” on their homes. "Negative equity" rose faster in this region than anywhere else in the country.

Seattle area landlords are breathing a sigh of relief these days due to dropping rental vacancies. Real estate appraiser Richard Hagar tells KPLU's  John Maynard that two forces are driving this.

Home sales bumped up in December, in King County.  Analysts disagree over whether it’s sign of an important trend or not.  The Seattle Times calls it the biggest month for home sales since a federal tax credit expired last summer. 

But the Seattle P-I quotes Glenn Crellin of Washington State University as saying the real estate market is likely to stay sluggish for several months or longer:

In Seattle, there's a lot of potentially dangerous places where the soil could give way any moment. This is especially true in neighborhoods with good views. 

The City of Seattle publishes a landslide map that makes this abundantly clear.  On the map, landslide-prone areas are marked in red. And, boy, is there a lot of red!

Is it possible for proud home owners who pay their mortgages on time to have their houses foreclosed on? KPLU’s John Maynard talks with real estate appraiser Richard Hagar who says this sort of thing happens all the time, thanks to sloppy bank practices.