Got equity? Not half of recent O.C. buyers!

Zillow's first-quarter report reveals that by their "Zestimate" math half of Orange County homebuyers from 2004 to 2009's first quarter — OK, 52.3% — have no equity in their residences. That's due to a combination of low downpayments and falling housing values pushing their mortgage balance above their home's estimated value. Purchase year Equity %Equity Down %Under water 2009 Q1 $99,222 32.5% 20% 8.0% 2008 $69,973 20.2% 20% 18.4% 2007 -$37,014 -7.3% 20% 60.8% 2006 -$87,901 -16.3% 10% 71.9% 2005 -$53,208 -10.5% 10% 65.5% 2004 $10,788 2.4% 15% 46.4% Past [...]