According to an analysis of more than 1 million homes on Zillow.com, whether a home is over- or under-priced in today's bleak housing market seems to depend on when it was purchased.
Zillow, the third-most-visited real estate website in America, last month decided to spruce up one of its most popular features: its “Zestimates,” or valuations of what properties on its site are worth.
This shouldn’t come as news to anyone, but these statistics show just how bad of a time it is to try to sell a house—and also how difficult it is for many homeowners to afford the ones they have.
Roughly 30% of American consumers have credit scores that are so bad they wouldn’t be able to get a mortgage today, even if they managed to scrounge together a down payment of 20%.
“There is no iron law that real estate must appreciate.”
The real-estate site Zillow has created a trick-or-treat index. Factoring in data like home values, population density, walkability, and safety, the site tells trick-or-treaters what neighborhoods give the best chances of bringing home enough candy to scare any dentist silly.
