About 5.1 million will own a home valued below 75 percent of what is owed

Home Under Water?

No help in sight, more homeowners walk away

In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040.

“People like me are beginning to feel like […]

More refinancing homeowners put cash in, not take it out

WASHINGTON — Thinking of cashing out some equity when you refinance your mortgage? Sure, that used to be what millions of homeowners did when they needed extra money.

But now get ready for the post-boom, post-crash trend that’s really hot: “Cash-in” refis — the diametrical opposite of cash-outs.

“It almost sounds un-American,” quipped Frank Nothaft, […]

Foreclosures weigh on home appraisals

LOS ANGELES — It wasn’t the first time that Katherine Scheri ruined a real-estate agent’s day with a low property appraisal.

Scheri, a real-estate appraiser, had sized up a three-bedroom, two-bath house in Santa Ana, Calif., for $30,000 less than what the buyers offered to pay. A typical deal-killer for a seller.

The agent […]

Record number of local home sales fell through in ’09

A buyer makes an offer on a house. The seller accepts it.

That means there’s a sale, right?

Not necessarily. Not anymore.

That’s what Jeremy Eide of Keller Williams Realty’s Renton office learned last year after he listed a four-bedroom house in Maple Valley for sale. It was a “short sale,” certain to fetch less […]

Banks take over where builders left off

At a time when dozens of Northwest banks are trying to dig themselves out of the mess left by the collapse of the housing bubble, City Bank of Lynnwood is attempting to build itself out. Literally.

AutumnWood at BrookTree in Tacoma, a gated development for “active adults age 55 or better,” had just seven or […]