Where to buy now, where not to buy & top foreclosure markets
Business 2.0 writes more about the real estate markets in the u.s. They tell us the top cities to buy, the places not to buy and places where foreclosures are happening right and left.
I thought I would summarize them a little for your sake.
WHERE TO BUY NOW [Projected 5 year gain in home prices are in brackets ().]
1. Panama City, FL (72%), 2. Vero Beach, FL (64%), 3. Bridgeport, CT (63%), 4. Lakeland, FL (59%), 5. McAllen, TX (57%), 6. San Luis Obispo, CA (40%), 7. Wilmington, NC (37%), 8. Manchester, NH (35%), 9. Fort Collins, CO (28%), 10. Atlanta, GA (24%).
For more details on why, visit their slide show clicking on here.
WHERE NOT TO BUY (according to Business 2.0, they say ‘at least for the next year or so’)
1. California’s Central Valley, 2) Southwest Florida, 3) The Jersey Shore, 4) Phoenix, 5) California’s Inland Empire, 6) and a bunch of other cities they list: Stockton - CA (-9.7%), Merced - CA (-8.9%), Reno/Sparks - NV (-8.9%), Fresno - NV (-7.9%), Vallejo/Fairfield - CA (-7.8%), Las Vegas - NV (-7.1%), Bakersfield - CA (-6.6%), Sacremento - CA (-6.4%), Washington, D.C. (-6.3%), Tucson - AZ (-6.2%) [projected drop in median home prices are placed in brackets()].
For more details from this article/slide show, click on here.
TOP 10 FORECLOSURE MARKETS according to Business 2.0 & Realty Trac:
1. Greely, CO, 2. Detroit, MI, 3. Miami, FL, 4. Indianapolis, IN, 5. Ft. Lauderdale, FL, 6. Denver, CO, 7. Dayton, OH, 8. Dallas, TX, 9. Fort Worth, TX, 10. Atlanta, GA
For more details on this slide show, feel free to click here.
How do I know where to buy the future?
Investing in Real Estate is a tricky endeavor. However, some research reports that are provided by popular magazines are a good place to show you what may be good to buy for the long run.
For example, an article recently published by Forbes identified the “Best States for Business.” Well, if the state is good for business, it probably means the state is also good for jobs and is a boost to the local economy. The higher demand of people moving into the areas makes it an easy decision to buy in those locales. Virginia topped the list (no wonder why D.C. is so expensive — even though I realize it’s not a part of Virginia, it basically serves as a county of it, LOL), but the article focused a lot on my home town: Seattle.
I’ve always new that it was the best place in the country despite the gloomy jokes about the rain. It has literally the best weather in the summer & has almost no humidity during the summer despite being next to the Puget Sound with 2 other major lakes lodged off to the immediate east. It has the best of everything including one of the largest, if not largest software companies in the world, the largest plane manufacturer (even though they’re headquartered in Chicago), one of the largest paper companies (in Federal Way, just south of the city), one of the largest online travel and books/CDs stores, one of the largest logistics companies for package deliveries, one of the largest cell phone providers…shall I continue?
There was another report/article that identified some recession/bubble proof markets for real estate. Seattle was on the list of the short list of 5 including San Francisco (4.2% appreciation since 1946 - to 2006), Los Angeles (3.7%), Seattle was 3rd in appreciation since 1946 (to 2006) at 3.2%, Boston (3.0%) and New York City at 3.0% as well. Las Vegas, Floridian cities and Phoenix were missing from the list.
Hello Real Estate World!
Welcome to BehindRealEstate.com!
My name is Brandon Na and I was a “Realtor”, a real estate agent, a Real Estate Consultant (according to my company Keller Williams) and honestly, a sales person for the first time in my life. I’ll be writing to you about the “inside information” and details I picked up while working in the Real Estate industry from 2004 to 2006.
The real estate business is an interesting one to say the least. There are people from the consumers to the agents to vendors who serve the agents to the companies who manage the brokers who manage the agents. There are laws and there are squirrely ways to get around them. There are times when you wonder when you’re getting “slimed” and then there are really hard working people in the field who try to make this very critical decision or decisions a very pleasant one despite all the complexities involved in most transactions.
The real estate industry is metamorphosizing into something very interesting with the Internet. I’ll help you understand the tools that are now available and how they relate to the ways that we “used to do it.” I’ll educate as beset as possible from my limited, yet very comprehensive experience. By the way, I went from a $0 producer in the first 4 months to the 2nd highest producing agent in my office which was the main office of Bellevue, Washington — a somewhat ritzy town next to the hometown of the richest…oops, sorry, the 2nd richest man in the world: Bill Gates.
I hope you enjoy. Feel free to leave comments & I’ll do my best to get back as soon as possible. I have to admit I am doing several projects right now…so it may take me a little more time than normal. Cheers!