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10 Fastest-Growing Real Estate Markets
May 15th, 2008 10:29 AM

10 Fastest-Growing Real Estate Markets

by Money Staff
Tuesday, May 13, 2008provided by

Yes, even amid the housing crisis, parts of the U.S. are still expected to post price gains in the coming year, according to Money Magazine. Here's where to look.

The housing implosion is nowhere near over. In 75 of the 100 top U.S. cities, prices are expected to fall in the next 12 months according to Fiserv Lending Solutions.

The S&P Case/Shiller Home Price Index, which tracks 20 of the largest housing markets, showed prices plummeting by 12.7% in the 12 months ending February. That's the biggest fall since the index began tracking prices in 2000.

Meanwhile, foreclosure filings more than doubled in the first three months of 2008, spiking 112%. So far this year 156,463 families have lost their homes to repossessions. Many markets won't hit bottom till late 2009 or even 2010.

Pity the residents of Stockton, Calif., whose homes are likely to lose more than half of their 2006 value. But if you happen to live in Texas -- or any of the other cities below -- congratulations: The housing tornado passed you by.

Photo: Maritza Muoz/McAllen Chamber of Commerce

1. McAllen, Texas

12-month forecast: 4%
Median home price: $109,000
One year price change: 2.1%
Five year price change: 23.3%
Change in foreclosure rate: 23%

2. Rochester, N.Y.

12-month forecast: 2.7%
Median home price: $121,000
One year price change: 3.4%
Five year price change: 20.1%
Change in foreclosure rate: 5%

Birminghamnet.com

3. Birmingham, Alabama

12-month forecast: 2.7%
Median home price: $156,000
One year price change: 2.9%
Five year price change: 29.4%
Change in foreclosure rate: 20%

4. Syracuse, N.Y.

12-month forecast: 2.6%
Median home price: $126,000
One year price change: 0.8%
Five year price change: 29.5%
Change in foreclosure rate: 27%

Niagara Tourism & Convention Corp.

5. Buffalo/Niagara Falls, N.Y.

12-month forecast: 2.4%
Median home price: $105,000
One year price change: 1.6%
Five year price change: 24.5%
Change in foreclosure rate: 14%

6. New Orleans, La.

12-month forecast: 2.2%
Median home price: $158,000
One year price change: 1%
Five year price change: 43.7%
Change in foreclosure rate: 49%

7. Scranton, P.A.

12-month forecast: 2.2%
Median home price: $128,000
One year price change: 7.2%
Five year price change: 41.1%
Change in foreclosure rate: 8%

Courtesy: Grand Rapids CVB

8. Grand Rapids, Mich.

12-month forecast: 1.9%
Median home price: $124,000
One year price change: -3%
Five year price change: 8.3%
Change in foreclosure rate: 37%

9. Baton Rouge, La.

12-month forecast: 1.9%
Median home price: $170,000
One year price change: 5.7%
Five year price change: 38.3%
Change in foreclosure rate: 14%

From: www.elpasocvb.com

10. El Paso, Texas

12-month forecast: 1.8%
Median home price: $134,000
One year price change: 6.9%
Five year price change: 51.9%
Change in foreclosure rate: 32%

Posted by Christian Bennett on May 15th, 2008 10:29 AMPost a Comment (0)

www.WORLDTRAVELRITE.com GREAT TRAVEL DEALS!!!!
May 25th, 2008 6:44 PM
Posted by Christian Bennett on May 25th, 2008 6:44 PMPost a Comment (0)

Home prices continue sharp descent
May 13th, 2008 11:34 AM
CNNMoney.com
Home prices continue sharp descent
Tuesday May 13, 10:29 am ET
By Les Christie, CNNMoney.com staff writer

Single-family home prices dropped 7.7% in the first quarter in the largest year-over-year decline since the National Association of Realtors began reporting prices in 1982.

The median sales price fell to $196,300, down 4.8% compared with the last three months of 2007.

Lawrence Yun, the chief economist of NAR, attributed much of the record decline to liquidity problems dragging down high-priced markets.

"These are highly unusual results because there were very few jumbo loan originations in the latest quarter," he said. "So sales are much slower in high-cost areas."

Sun-Belt cities were among the biggest losers. In California, Sacramento prices plummeted 29.2% to $258,500 compared with last year and Riverside prices fell 27.7% to $287,100. Prices in Las Vegas fell 20.2% to $247,600 and those in Phoenix dropped 15.4% to $222,200.

Midwestern cities, hard hit by factory closings, also suffered huge losses with Lansing, Mich., prices falling 26.9%.

The best performing market in the nation was Binghamtom, N.Y., where prices rose 11.8% to $109,700. Second was Peoria, Ill., up 10.4% to $119,000 and Spartanburg, S.C., where prices rose 10.2% to $130,300.

Hurting home prices were bigrises in foreclosure rates over the past 12 months, which threaten to get even worse. Delinquencies more than doubled over that time and more than 155,000 lost their homes in bank repossessions during the first three months of the year.

All that foreclosure activity added to the glut of homes on the market. The total inventory has risen to an average of 10 months worth of unsold homes. In addition, a record number - 2.9 million - of vacant homes are up for sale, according to the Census Bureau.

The big inventory has led to aggressive price slashing and increased incentives by builders looking to sell homes. They've also cut way back on housing starts, which are at a 17-year low.

The pace of existing home sales, at about 492,000 a month, is about a third less than its peak during the summer of 2005.

Posted by Christian Bennett on May 13th, 2008 11:34 AMPost a Comment (0)

OPEN HOUSE SUNDAY 18th 1-3
May 12th, 2008 4:39 PM
Residential 2854 Torrance Dr List Price: $ 199,900

Picture
Prepared For You By:
Christian Bennett PA
Prudential Tropical Realty
Office: 727-847-4444
Office Fax: 727-847-1802
Agent Phone: 727-847-4444
Agent Fax: 727-372-1030
Agent E-mail: cbennett@prutropical.com
Agent Website: www.cbennettpro.com

GENERAL PROPERTY INFORMATION

Address: 2854 Torrance Dr   Land O Lakes, FL  34638- Media: 11 List Price: $ 199,900
Unit #: Floors in Unit: Floors # of Units: Low Price: $
Bldg # Floors: Total Units: County: Pasco Auction:
Total Bedrooms: 3 Total Baths: Full: 2 Half: 0 Property Desc: One Story LP/SqFt: $117.66
Property Style: Villa Ownership: Fee Simple
Condo Community: Building Name/Number: PUD: Y
MLS #: 7339486 Status: Active Area: 193 Grid: T19

LAND & SITE INFORMATION

Subdivision Number/Name: 0030/Oakstead Prcl 08 Neighborhood/Complex: Model:
Legal Description: Oakstead Parcel 8 Pb 48 Pg 127 Block 29 Lot 42 Or 7180 Pg 788 Municipal Code: Zoning: RES
Location: Gated Community, In County Lot Size: .13 Front Exposure: East

SOCIAL ISSUES

    Homestead: Yes Special Tax District: N Millage Rate: 14.538
HO Assn Required: Yes HOA Fee: $100 HOA Schedule: Monthly Payment CDD: Yes Annual CDD Fee: $
Monthly Maintenance Fee: $0 Max Pet Wt: Days Lease: Land Lease Fee: $
Maintenance Includes: Lawn, Roof
Rules: Assoc. Approval Required, OK To Lease, Pets Allowed, Required Association
Community Features: Assoc. Recreation Owned, Deed Restrictions, Gated, HOA Required, Playground, Recreation Building, Tennis Court

INTERIOR FEATURES

Year Built: 2004 Sq. Ft. Heated: 1699 Sq. Ft. Source: Tax Records
Living Rm Size: Great Rm Size: Family Rm Size: Bonus Rm Size:  
Kitchen Size: Dining Rm Size: Dinette Size:    
Master Bdrm: 2nd Bdrm Size: 3rd Bdrm Size: 4th Bdrm Size: 5th Bdrm/Den Size:
Master Bath: Garden Bath, MBR Bath-Tub w/ Separate Shower Stall Cooling/AC: Central Heating: Electric
Floor Cover: Ceramic Tile, Wall to Wall Carpet, Wood
Interior Layout: Family Room, Formal Dining Rm Separate, Great Room, Study/Den/Library
Kitchen: Breakfast/Snackbar
Appliances: Dishwasher, Dryer, Hot Water Gas, Microwave, Range, Range Hood, Refrigerator, Washer
Interior Features: Ceiling Fan(s), Hot Tub/Spa, Inside Utility, Walk-In Closet
Utilities Data: Cable, Fire Hydrant (w/i 1000 ft), Gas, Public Municipal Water, Sewer, Sprinkler Meter

EXTERIOR DESCRIPTION

Construction: Block Roof: Shingle Balcony/Porch Size:
Exterior Features: Fenced, Porch/Patio/Deck Covered
Garage/Carport: 2 Car Garage Garage Features: Oversized
Pool Y/N : N      Pool (Owned) - Features: Heated Hot Tub/Spa
Water(Y/N): N Waterfront: None
Waterfront Extras: Waterfront Type:

REALTOR® INFORMATION

Directions: From US41 Go West on SR 54 to R Oakstead to L on Manassas Dr. to L on Tanglewylde to R on Gopher Trail to L on Torrance
Remarks: Maintenance Free Villa in Gated Community! Almost 1700 SF of Living. 3 Bedrooms + Study, 2 Full Baths, 2 Car Garage, Large Screened Patio with HOT TUB!!! Wood Cabinets, Tile and Wood Flooring, Upgraded lighting and fans, Security System, & a private Fenced Backyard. Located in Oakstead, neighborhoods features: including a large clubhouse, basketball, tennis, volleyball, fitness, swimming pool, spa, recreational building, parks, playgrounds, Elementary, Middle and High School. Close to Medical, Shopping, & Expressway. PRICED FOR QUICK SALE!!!
Mon, May 12, 2008 04:38 PM Copyright © 2002-2008 GTAR, PSAR & WPBR. All rights reserved. Information is believed to be accurate, but should not be relied upon without verification.
Posted by Christian Bennett on May 12th, 2008 4:39 PMPost a Comment (0)
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