Affordable Homes: Real Estate in Nation's 10 Most Cheap & Livable Metro Areas

The 10 most livable and most low-cost existent estate subway countries in the United States have got A number of other advantageous features in common, according to a new HouseHunt “Current Real Number Estate Market Conditions” study conducted by HouseHunt, Inc., a consumer-oriented Internet firm that supplies free information to thousands of homeowners, home buyers and home Sellers across the nation. The study shows average home terms range from $130,100 to $194,400 for existing homes for sale and also found:

• The bulk of the 10 subway countries report balanced, good-to-active housing markets with Sellers usually getting 95% Oregon more than of their request prices. Inventories of unsold homes are mostly limited.

• The bulk of the 10 subway countries are experiencing strong occupation and population growing and good economical news. They offer quality lifestyles, good schools and solid household diversion along with other amenities. Sales information shows that many recent home buyers are relocating from other, often more than costly areas.

• All 10 subway markets are attracting both first-time and move-up buyers because of low-cost prices, low mortgage interest rates and multiple funding options.

• Median existent estate terms for existing single-family homes in the 10 subway countries range between $130,100 and $194,400, compared to the national median value existent estate terms of $188,800. Four of the 10 countries reported double-digit price grasp in the past 12 months.

• All 10 subway countries have got major universities located there.

• Five of the 10 subway countries are popular touristry destinations. Nine of the 10 subway countries are located in warm to moderate climates.

The 10 most livable and most low-cost subway countries as determined by criteria developed by “Places Rated Almanac” (David Savageau) and the up-to-the-minute quarterly median value sales terms compiled by the National Association of Realtors are:

1. Salt Lake City-Ogden, Greenwich Mean Time $157,000

2. Tampa-St. Petersburg-Clearwater, FL $172,800

3. Raleigh-Durham-Chapel Hill, North Carolina $175,600

4. Houston, Texas $138,100

5. Phoenix, azimuth $193,800

6. Cincinnati OH, $139,600

7. Louisville, Kentucky $130,100

8. Austin-San Marcos, Texas $154,100

9. Orlando, Florida $194,400

10.Nashville,TN $152,100

Four of the 10 subway countries – Tampa-St. Petersburg-Clearwater, Raleigh-Durham-Chapel Hill, Capital Of Tennessee and Austin-San Marcos – are also listed in the up-to-the-minute edition of Spike Lee and Saralee Rosenberg’s “50 Fabulous Places To Raise Your Family” (Melissa Giovagnoli). Like Savageau, the writers give high Marks for schools, occupations and business opportunities, household fun, lodging affordability, living costs, climate, wellness care, transportation and quality of life.

Mark Jenkins of Real Property Executives in Salt Lake City, described lodging activity in his subway country as “improving” from a down buyers market.” Helium said many buyers are relocating from out-of-state to take advantage of the lifestyle and lower home prices. A median value terms of $157,000 would probably purchase a 2,000 foursquare ft home with three bedrooms, two baths and a two-car garage on a one-third Oregon one-four acre batch in a good location. Highest home terms grasp is occurring near the University of Utah. Another hot topographic point is Park City, a popular skis vacation spot in the nearby mountains.

An active lodging market is reported in the Tampa-St. Petersburg-Clearwater metro country by Linda Ippolito of Helen Keller William Carlos Williams Realty. She said the whole country is exploding with growing and new industries. Available lodging is in limited supply. Although the average value terms home is $172,800 for the full subway area, median home terms are closer to $400,000 in South Tampa. Waterfront places are also priced higher. Average terms grasp is 15.7% inch the past year. A slower-paced but high quality lifestyle is reported in the Walter Raleigh - Durham - Chapel Hill subway country by Beam Lenahan of Henry Martin Robert Gray Realtors.

“The large attraction is our Research Triangle, three major universities, first-class quality of life, and moderate weather,” Lenahan said. He said the median value home terms of $175,600 in the subway country is probably closer to $190,000 in his market area. “That volition purchase a new home with 2,000 foursquare feet with three bedrooms, two baths on a half-acre lot. Either that, or, it would purchase an aged home in a more than constituted neighborhood,” helium added.

Houston, with its “can do” entrepreneurial spirit and liberal-to-zero zoning restrictions, is attracting people from both the East and Occident Coasts to relocate and to put in rental properties, according to Kathi Frank of RE/MAX The Woodlands. The Woodlands is a 27,000-acre planned community located 27 miles north of business district Houston. “Median terms home for the full subway country is $138,100,” she said. “That volition purchase a new, 1,400 foursquare ft home from a production detergent builder in North Houston Oregon Forest Springs.” She added: “Estate places are priced from the low $200,000s to more than than than $3 million.”

Reva Schafer of Occident USA Realty, reported a limited stock list and a very active seller’s market, with Sellers usually getting 100% or more of their request prices. The median value terms for the subway country is $193,800 “but hard to happen anything under $300,000 in my area,” Schafer said. “It’s More like $350,000 to $400,000 as a median value terms in Scottsdale. Tons are jumping in price. So are houses.” Year-to-year appreciation is 24.4%! She cited enormous growing in the suburbias of Peoria and Chandler. “A twelvemonth ago, investors were buying from detergent builders and flipping (re-selling) the properties. No more. Now, a buyer must dwell in the property for at least one twelvemonth to qualify.”

Good occupation growth, corporate resettlements and an improving local economic system is fueling the lodging market in the Cincinnati subway market, according to Saralou Durham of RE/MAX Preferred Group. “We have got fabulous cultural and recreational installations and a good quality lifestyle,” she said. ”A median value home terms of $139,600 looks a spot low, depending on the area. That amount of money will probably purchase a small two bedroom, one bath home needing some repair or remodeling in one of our small suburban communities.”

In Louisville, The Queen City Wright and Michael McConnell of Evergreen Real Property in suburban Jeffersontown, stated: “Louisville is now the 16th largest subway country in the nation. We’re A hub for UPS and have got two John Ford works located here. Military force stationed as nearby Ft. John Knox and their households are also relocating here. The median value terms of $130,100 is probably low – $150,000 would be more than accurate. The latter volition bargain a three bedroom, two bath 1,200 foursquare ft house with a garage in a good area.”

Ann Catherine Parr of RE/MAX Capital Of Texas Advantage said well-priced listings are attracting multiple, full-price offers in a very active seller’s market. Average clip on the market is 60-90 days. “We have got younger people who desire to dwell close to business district but the primary topographic point to dwell is by the lakes,” she said. Prices range from $150,000 to $6 million. “Nice homes can be purchased for $250,000 to $350,000. The median value terms home is $154,100 in Austin. That would probably purchase a starter motor home in the Round Rock country or a home needing remodeling in Central Austin. Patio homes for retired people near Lake Capital Of Texas sell for $200,000.”

One of the hottest of the 10 subway markets on the listing is Orlando, according to Steve Farah of the Royal Real Property Group: “We’re experiencing incredible growing and home appreciation,” helium said. “Our seller’s market is so active that lists sometimes last lone hours, not days. Buyers frequently must move immediately or the property will be gone!” Helium experiences that the median value terms of $194,400 is probably low because of high demand and the low inventory. “A median value value terms of $250,000 would be more than realistic and would purchase a three bedroom, two bath home with 1,700 to 2,000 foursquare feet.” Since the first one-fourth of 2004, the median terms home have appreciated 28.7%.

Nashville, the 10th ranked subway country on the list, offers a relaxed, friendly lifestyle and low-cost home terms to newcomers, according to Virgin Mary Barbee of Coldwell Banker Roy Chapman Andrews and Associates. Plus, there is no state income tax. “The median value terms of $152,100 looks low – it’s More like $170,000, depending on location. That amount of money would probably purchase a three-bedroom, two-bath new home with 1,200-1,500 foursquare feet in the suburban communities of James Madison and Smyrna,” she said. The median value home terms is up 11.3% inch the past twelvemonth in the Capital Of Tennessee subway area.