Zillow: Home Depreciation Slows in February
Zillow: Home Depreciation Slows in February
Zillow: Home Depreciation Slows in February
Helpful
Tools
Mortgage
Calculator

Estimate your monthly payment for a home purchase or refinance
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about mortgage loans to find the one that's right for you
15 Year vs 30 Year
Loan Comparison

Compare payments between a 15 year and 30 year mortgage loan
Today's Mortgage
Rates

See today's current mortgage rates. Shop, compare and save.

April 12, 2011 (Shirley Allen)
mortgage-house-image
Zillow.com states in a recently released report that national home values continued to decline in February of 2011, but at a slower pace. Nationwide, monthly home depreciation was -1.1 percent in February, down from -1.3 percent in January. However, year over year depreciation increased to -8.2 percent in February compared to – 7.4 percent in January.

Nationally, the median home value was $170,097 in February which is down 29.1 percent from the market peak in June 2006.

The metropolitan area that suffered the worse month over month decline in home value was Medford Oregon (-3.1%), while the metropolitan area that suffered the worse year over year home value decline was Mobile, Alabama, which saw home values decline 20.0 percent.

Zillow’s Home Value Index Report also showed that 130 out of 132 to metropolitan regions experienced monthly declines in home values with two markets, Fort Myers, Florida, and Fayetteville, North Carolina, seeing monthly increases.

In year over year comparisons, Zillow says that 127 metro regions experienced declines in home values, two metro regions saw annualized increases (Honolulu and Utica), and three metro regions were flat from year ago levels.

The report states that foreclosure liquidations increased to 0.095 percent, up from 0.093 percent in January, which they attributed to increased foreclosure activity following the slowdown caused by the “robo-signing” controversy. Zillow believes that as a result, they expect foreclosure liquidations to increase in the future.

Zillow also predicts that national home values will bottom out in the fourth quarter of 2011 or the first quarter of 2012 as the declining rate of depreciation that they predicted in December is beginning to materialize.

Read the whole report at zillow.com.

Tags: zillow, home value index report, median home value, home depreciation, metropolitan regions, foreclosure liquidations, robo-signing

Sources:
Zillow.com

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

April 12, 2011 (Shirley Allen)
mortgage-house-image
Zillow.com states in a recently released report that national home values continued to decline in February of 2011, but at a slower pace. Nationwide, monthly home depreciation was -1.1 percent in February, down from -1.3 percent in January. However, year over year depreciation increased to -8.2 percent in February compared to – 7.4 percent in January.

Nationally, the median home value was $170,097 in February which is down 29.1 percent from the market peak in June 2006.

The metropolitan area that suffered the worse month over month decline in home value was Medford Oregon (-3.1%), while the metropolitan area that suffered the worse year over year home value decline was Mobile, Alabama, which saw home values decline 20.0 percent.

Zillow’s Home Value Index Report also showed that 130 out of 132 to metropolitan regions experienced monthly declines in home values with two markets, Fort Myers, Florida, and Fayetteville, North Carolina, seeing monthly increases.

In year over year comparisons, Zillow says that 127 metro regions experienced declines in home values, two metro regions saw annualized increases (Honolulu and Utica), and three metro regions were flat from year ago levels.

The report states that foreclosure liquidations increased to 0.095 percent, up from 0.093 percent in January, which they attributed to increased foreclosure activity following the slowdown caused by the “robo-signing” controversy. Zillow believes that as a result, they expect foreclosure liquidations to increase in the future.

Zillow also predicts that national home values will bottom out in the fourth quarter of 2011 or the first quarter of 2012 as the declining rate of depreciation that they predicted in December is beginning to materialize.

Read the whole report at zillow.com.

Tags: zillow, home value index report, median home value, home depreciation, metropolitan regions, foreclosure liquidations, robo-signing

Sources:
Zillow.com

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

April 12, 2011 (Shirley Allen)
mortgage-house-image
Zillow.com states in a recently released report that national home values continued to decline in February of 2011, but at a slower pace. Nationwide, monthly home depreciation was -1.1 percent in February, down from -1.3 percent in January. However, year over year depreciation increased to -8.2 percent in February compared to – 7.4 percent in January.

Nationally, the median home value was $170,097 in February which is down 29.1 percent from the market peak in June 2006.

The metropolitan area that suffered the worse month over month decline in home value was Medford Oregon (-3.1%), while the metropolitan area that suffered the worse year over year home value decline was Mobile, Alabama, which saw home values decline 20.0 percent.

Zillow’s Home Value Index Report also showed that 130 out of 132 to metropolitan regions experienced monthly declines in home values with two markets, Fort Myers, Florida, and Fayetteville, North Carolina, seeing monthly increases.

In year over year comparisons, Zillow says that 127 metro regions experienced declines in home values, two metro regions saw annualized increases (Honolulu and Utica), and three metro regions were flat from year ago levels.

The report states that foreclosure liquidations increased to 0.095 percent, up from 0.093 percent in January, which they attributed to increased foreclosure activity following the slowdown caused by the “robo-signing” controversy. Zillow believes that as a result, they expect foreclosure liquidations to increase in the future.

Zillow also predicts that national home values will bottom out in the fourth quarter of 2011 or the first quarter of 2012 as the declining rate of depreciation that they predicted in December is beginning to materialize.

Read the whole report at zillow.com.

Tags: zillow, home value index report, median home value, home depreciation, metropolitan regions, foreclosure liquidations, robo-signing

Sources:
Zillow.com

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.