Forbes: 10 Best Cities for a Housing Recovery
Forbes Magazine has reported on 10 of the best cities for a housing recovery. Most of the cities were in the first group of cities to have a slow down in their housing market. Since homeowners or sellers in these markets had a hard time selling their homes and sold for lower prices than in previous times, the real estate market in the Raleigh-Durham area was effected. The number of buyers coming to our area slowed down. They also didn't have as much money to put into a new home when they arrived to our area.
I recently had an e-mail conversation with a former client/neighbor of mine who moved to the Miami-Ft. Lauderdale area in 2006 just before the slow down in the FL market. They bought a home that had been a foreclosure that needed work. They got a great deal on that home at that given time. This past winter they were given the opportunity to transfer. The appraisal on their home came in almost $100,000 less that what they had in the home. However, this summer, similar homes to theirs have sold much closer to the price they purchased their home for in 2006.
So, there is good news out there in the big world. Slowly, one step at a time the housing market will recover back to some "normal" level!
To read the article in Forbes: http://www.forbes.com/2009/08/13/recovery-cities-homes-lifestyle-real-estate-housing-recovery-cities.html
posted by Carol @ 1:44 PM
3 Comments
3 Comments:
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