10 Cities Where Housing is on the Rebound.
According to Michael Kling of Investopedia (www.Investopedia.com), the following US Cities are poised for rebound:
(from MSN.com Real Estate news – December 16, 2009)
1. Minneapolis – up 3.2%. Manufacturers such as 3M, and high-tech industries are hoping to benefit from the coming recovery. Minneapolis-based U.S. Bancorp is among the healthiest U.S. financial services companies, according to Moody's.
2. San Francisco – up 2.8%. Home prices there will drop 8.3% by next June, but will increase 14.3% by 2011.
3. Detroit – up 1.9%. Home prices fell 22.6% since last year, and are at about 72% of what they were in 2000.
4. Chicago – up 1.7% following a 2.7% increase from June to July due to first-time homebuyer tax credit that has motivated buyers.
5. Phoenix – up 1.6% after a 1.8% increase from June to July. The city was one of the hardest hit in the real-estate bubble. Prices have dropped by more than 25% since last year.
6. San Diego – up 1.6% but reported a 2.5% increase in July, and fell about 8.9% since last year.
7. Los Angeles – up 1.6% - Prices there rose 1.8% from June to July, but are still 12% lower than last year.
8. Washington DC – up 1.4%. and fell almost 8% since last year. The city is somewhat protected by a reliance on government employment.
9. Denver – up 1% - Prices there fell only about 2% since last year and have avoided the real-estate bubble that hit east and west coast states.
10. Seattle – up 0.1% with 3.8% increase predicted over the next few years. The real-estate market suffered less than others, as prices fell 15.2% over the last few years.
According to Forbes, the following cities are the most overpriced markets.
This means the houses for sale in these markets are sitting longer than needed and are not selling.
The 10 most overpriced metro areas
1. Orlando-Kissimmee, Fla.
2. Miami-Fort Lauderdale-Pompano Beach, Fla.
3. Jacksonville, Fla.
4. Baltimore-Towson, Md.
5. Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
6. San Antonio
7. Denver-Aurora, Colo. (tie)
7. Tampa-St. Petersburg-Clearwater, Fla. (tie)
9. Indianapolis-Carmel, Ind.
10. Austin-Round Rock, Texas (tie)
10. Nashville-Davidson-Murfreesboro-Franklin, Tenn. (tie)
As an ASP Home Stager, it is important that I stay on top of the national statistics and trends related to the housing market so that I can serve my clients even better. Knowing that markets around the country are rebounding is good news, and yet in any market ASP Home Staging helps a house present the best for Buyers and therefore get an offer faster than the un-staged competition.
We know that when a house is ASP Staged and priced right, it will sell. But the two key factors of Presentation and Price must be balanced. We know based on our statistics that we track at Stagedhomes.com that an ASP Staged property sells 2-3 times faster, and in some markets 6 time faster, than the un-Staged competition. We also know that the Staged property sells for 5-20% more than the un-Staged competition, helping homeowners keep more equity and helping Realtors earn more commission and make more money.
When it comes time to sell your house, make sure to work with an ASP Home Stager. You can find us at http://www.stagedhomes.com/ in our online directory or at http://www.iahsp.com/ online directory of the current members of the International Association of Home Staging Professionals (IAHSP).
If you live in the greater Denver region, I would be happy to personally assist you in getting your house or listing Staged for sale.
Please contact me at Sensational Home Staging - 888-WE-STAGE. www.SensationalHome.com
Happy Staging & Selling!
Jennie Norris, ASP Master, IAHSP President
Owner, Sensational Home Staging