High Priced Housing

[Kimberly 0]

Home prices 'extremely overvalued' in 53 cities, article from USA Today.

 

Rankings of 299 Metro Areas

[MichaelC 160]

Kim, thanks for those links. I was driving in my car yesterday when some local talking head on the radio mentioned that USA Today article. Interesting stuff, indeed. I'm a bit disappointed, though. My area ranks a lowly 28 on the chart, and only 43% overvalued.

The local paper had an article this past week with the latest numbers in our market. As expected, median price is up again, (around $370K, if I remember correctly), and appreciation is at 31%. Should be quite a spectacle when this baby implodes.

[<Steve> 82]

Hey Kimberly-

 

Sorry I had to laugh when I saw my area. I am in the 1% range. For the most part it's correct 1% to 3% range. NC real estate bubble deflated after 9/11 and as been holding at the current % for the last few years. The same with rents.

 

It really had to do with interest rates falling and the market turning into a buyers market. Now however the market seems more balanced and real estate reacts more to inflation. I think the market here is under priced, and while things may slow or level off at the current hot markets, I am getting ready for a take off here.

 

my forecast

[IStealHouses 0]

I am in the 60% rage!

 

Doomed

[Kimberly 0]

I'm a bit disappointed, though.  My area ranks a lowly 28 on the chart, and only 43% overvalued.

<{POST_SNAPBACK}>

 

 

Sorry I had to laugh when I saw my area.   I am in the 1% range.   For the most part it's correct 1% to 3% range. 

<{POST_SNAPBACK}>

 

Tulsa comes in at #265 and a whopping -6%. (NOT a typo, that was negative 6%). So, Steve, compared to here your market is moving right along!

[Craig 0]

Kim, Thanks for the link. I will take the 8% over valued.

[bbrunelleb 0]

Kim, Thanks for the link.  I will take the 8% over valued.

<{POST_SNAPBACK}>

Hi All,

Seeing as how everyone is looking at stats, you might want to go to www.realestatejournal.com They have all kinds of great atticles.

Bill

[mpine 0]

Kim, thanks for those links.  I was driving in my car yesterday when some local talking head on the radio mentioned that USA Today article.  Interesting stuff, indeed.  I'm a bit disappointed, though.  My area ranks a lowly 28 on the chart, and only 43% overvalued. 

The local paper had an article this past week with the latest numbers in our market.  As expected, median price is up again, (around $370K, if I remember correctly), and appreciation is at 31%.  Should be quite a spectacle when this baby implodes.

<{POST_SNAPBACK}>

 

Our markets are super similar.. I fall into 29th with 42% overvalued

[BEV! 0]

Daing!!

 

I have completed CA's and currently have property on...

 

- Rank 5 at 59%

- Rank 6 at 58%

- Rank 12 at 53%

 

And everything in between!!

 

Am I the only abnormal investor completing CA's in the hottest market on this planet?

[Sold ! 0]

22 West Palm Beach, Fla. 46%

[MichaelC 160]

Am I the only abnormal investor

Please stop feeding me straight lines, Bev...

22 West Palm Beach, Fla. 46%

Hi, Rich. Yeah, you folks up there are percolating right along, also. More about our market in today's newspaper here, and here.

[BEV! 0]

Am I the only abnormal investor

Please stop feeding me straight lines, Bev...

This fish of mine always bites my baits ... got cha where I want you lil' jaws

[tdfloans 0]

Uhg! Los Angeles is only #20?? I DEMAND a recount! Oh, does only FL allow recounts?? Hahaha! Now, where do we go to find out the markets that are undervalued??

[tdfloans 0]

Oops, spoke to soon. The undervalued areas are on that list as well. I don't know alot about Lease Option Buying yet, but I know in the overvalued areas, foreclosures will soar. So for me this list just confirms my thoughts on getting into foreclosures in Cali. It would seem like the undervalued areas would be better for Lease Options...is that correct? If you wanted to look into the strategy of obtaining homes for 1, 2, or 3yr lease options, and then sell, you'd want a good appreciating market, correct?

[MichaelC 160]

Toby, generally speaking, a buyer's market is a much easier market for investors to find deals in. I mean, if you are the only prospect that a homeowner has spoken to in the past six weeks, don't you think the welcome mat will be out for you?

In any market, the key is to buy/control right. Get good terms, have a few exit strategies in place, and what the market is doing around you is of small concern.