Was I Dreaming? A Positive Report on the Real Estate Market!

By
Real Estate Agent with Exit Realty United

 Ask and you shall receive.
I have been asking God to please put words of positivity into mouths and minds of the media.

It is no surprise that this report came from an actual Real Estate expert, not a journalist or economist.

National news coverage is not giving a totally accurate depiction of the Real Estate Market and is not creating an environment that is conducive to any remedy of current issues.

They are missing the fact is this is the time to buy a home.  Lots of inventory, great interest rates and price reductions.  Banks and lending institutions are still in business aren't they?  This is not the time to go into the home buying process without the assistance of a real estate professional who can skillfully guide you through this process.  Lenders are just being prudent as they should have been in the past couple of years.

GOOD NEWS

On Saturday, October 6th, Kendra Todd, winner of season 3 of "The Apprentice", managing broker of the Kendra Todd Group, a Realty Investment Consultation firm and host of HGTV's "My House Is Worth What?"appeared on CNN's "Open House" and spoke about certain real estate markets that are showing  growth.

Ms. Todd reported on some small to large cities, and used a formula that included job growth, affordability, appreciation of homes and relocation.

Kendra Todd's Top 5

Salt Lake City, UT - Salt Lake City, UT is stated to have a boom in home appreciation at 22%.  It is known as a city that has a small town feel and "The Crossroads to the West".  The economy is sound with many jobs in the industrial sector including transportation, trade, mining and utilities, as well as being the hub for Utah government. A growth in tourism spurred by it's sports and recreation activities and the many who discovered the city while attending the Winter Olympics back in 2002 has helped Salt Lake's growth.

Wenatchee, WA - is stated to have a 25% home appreciation.  Relocation of many Californians and residents from Seattle is believed to be a factor.  With the influx of new residents there has been a growth in new construction and development bringing in more jobs and fueling their local economy.

Austin, TX- Austin, TX is known as a great place to live for families and a good investment for landlords.  Many of the real estate professionals on ActiveRain a top-notch real estate network of professionals across the country (my unbiased opinion) who are serving Austin and the surrounding areas have been testifying to the strength of their local market.  The Lone Star State's Capitol has the best of both world's.

Charlotte, NC - Charlotte, NC known as the second largest banking community in the US and the 5th fastest growing large city in the US.  Relocation has become key for Charlotte as their growth in the financial industry and their affordability has made it a spot for retirees and professionals looking for change.  This has helped it become the fastest growing city on the East Coast.

Farmington, NM- Farmington, NM located in the beautiful San Juan River Valley has been experiencing a growth in home appreciation of 14%.  Small business and commerce is exploding in this city which is the largest in the Four Corners area. Touted for having a great year round climate and spectacular views of the Arizona and Utah desert highlands and Colorado's  San Juan Mountains we understand why this area is known as the Four Corners and a year round destination for many.

Congratulations to the real estate professionals serving these cities and those looking to relocate or purchase there.  Real Estate investors are no longer investing primarily in their local areas.  Savvy ones are looking in other states and looking for areas of sustained growth.

Hearing this positive Real Estate report pushed me to do further research on favorable markets around the country.
 
It has been suggested by Money Magazine that the areas that showed the least amount of gains during the real estate boom are the areas that are holding steady and continuing to experience growth. 

Historically slow steady gains have been more sustainable in many industries.  So it is practical to come to the conclusion that areas that didn't experience a huge appreciation are not feeling the correction in the market.

I came across the list of Fiserv Lending Solutions growth forecast from April 2007 - April 2008.

These cities were rated top 10 in their forecast with their projected growth.

 1.  McAllen, TX - 12-month forecast: 9.8%
 2.  Tulsa, OK - 12-month forecast: 4.3%
 3.  El Paso, TX - 12-month forecast: 4.3%
 4.  Scranton, PA - 12-month forecast: 3.9%
 5.  Rochester, NY - 12-month forecast: 3.7%
 6.  Buffalo/Niagra Falls, NY - 12-month forecast: 3.7%
 7.  Fort Worth/Arlington, TX - 12-month forecast: 3.6%
 8.  Baton Rouge, LA - 12-month forecast: 3.6%
 9.  Dallas, TX - 12-month forecast: 3.6%
10. Birmingham, AL - 12-month forecast: 3.6%

They are forecasting 56 major US cities with positive growth between April 2007 and April 2008.  That's more than half of the top 100.  Many others are fore-casted to have minute drops of less than 2%.

Now that's Good News to me.  So why aren't these projections being reported?  Financing is not AS easy  for ANYONE to get, but there are still great loan programs for those that have done their financial homework. 

I guess the media believes that Good News doesn't sell papers or entice people to tune in.  Personally, I am longing for the days when the media found the diamonds in the sand and I didn't have to find positive news buried in the back of my newspaper amongst the advertisements.

 

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Rainmaker
299,303
Kathy McGraw
CELLing Realty - White Water, CA
Riverside County CA Real Estate
Ahhh I like good news......and I like better news.....so will be looking for my area on your report.  Thank you for doing this......:) :) We should be our own keepers, as the media sure isn't helping.......
Oct 08, 2007 01:37 AM #10
Rainer
15,495
Nathan Blair
Salt Lake City, UT
Thanks for your comment with the link.  I'm happy and surprised to see SLC recognized by a national television program.  And I agree 100% that the good news should be on the front pages, not hidden like it always is.  Keep spreading the good news!
Oct 08, 2007 01:59 AM #11
Rainer
25,980
Sharon "Toni" Brown
Exit Realty United - South Ozone Park, NY
South Ozone Park - New York City Real Estate

Kathy - It is up to us to change the face of this market.  We have to keep a positive attitude about the market.  Every industry goes through changes and adjustments.  The cup is half full for me.

Nathan - I had CNN on as I was on the treadmill.  I stopped and got a pen and took notes and slowed down to a steady walk.  It was funny and worth it.  I never smiled so much during a workout.

Oct 08, 2007 02:11 AM #12
Ambassador
1,282,618
Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)

Toni - Thanks for mentioning this post on my other blog.  I love the fact that Austin is featured.  It looks like your prayer worked. 

Oct 08, 2007 05:29 AM #13
Rainmaker
1,472,223
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager
Sharon,  Thanks for the mention of Wenatchee.  I wonder if Kendra Todd even knows how to pronounce Wenatchee (Wa-nat-chee).  The "t" is actually pretty silent so it's really (Wa-na-chee). 

Why are people flocking here and what's driving the economy?  Although I wrote it last December, this article is still timely. 

Thanks again! 
Oct 08, 2007 02:27 PM #14
Rainer
25,980
Sharon "Toni" Brown
Exit Realty United - South Ozone Park, NY
South Ozone Park - New York City Real Estate
Hey Carol - It seems that peple want the best of both worlds.  They want to live in a smaller community with having the access to the big cities.  This can be found in many markets and here in NY, cities "upstate"  are thriving from those looking for a change of pace.  Our community is growing for these same reasons.
Oct 09, 2007 12:39 AM #15
Rainmaker
1,472,223
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Sharon, You're right people do want the "smaller" community feel with access to the big city amenities.  Wenatchee has the best of ALL worlds.  We have great weather, all the amenities we need (even a semi-pro baseball team that's more fun to watch than the spoiled brat pros), decent shopping, a ski hill 12 miles from town, the riverfront just minutes from anywhere in town. some excellent restaurants. 

We also have a very diverse, thriving, economy with lots of job opportunities.... AND a traffic jam is considered to be anything over 10 cars!  Traffic is getting worse, though, as we continue to grow in this valley setting.

Have a great day! 

Oct 09, 2007 02:17 AM #16
Rainer
25,980
Sharon "Toni" Brown
Exit Realty United - South Ozone Park, NY
South Ozone Park - New York City Real Estate

Carol and everyone, I just hope that the consumer can access the positive information about the Real Estate industry. 

There are going to be those who want to relocate into the city, as the many who want to move into them for the convenience.  We have to share the wonderful opportunity that is happening in this industry for people to find the perfect home for them wherever they want to live. 

Oct 09, 2007 02:50 AM #17
Rainer
12,384
Pat Hommel
Annapolis Plaza CB Residential and Commercial - Annapolis, MD
Annapolis, AA Co., Md. Real Estate Sales
Toni,   Thanks for the positive statistics!  I totally agree, the media needs to be responsible about getting the positive news to the consumers.
Oct 10, 2007 02:41 PM #18
Rainer
25,980
Sharon "Toni" Brown
Exit Realty United - South Ozone Park, NY
South Ozone Park - New York City Real Estate
Yes Pat they do and we are going to be critical in seeing that happen.  When we talk to the media we need to share our successes and not just place blame on others for whatever difficulties we may be having.  Anything that ever came too easy was never really worth it and doesn't give us an opportunity for real growth. 
Oct 11, 2007 06:05 AM #19
Rainer
12,384
Pat Hommel
Annapolis Plaza CB Residential and Commercial - Annapolis, MD
Annapolis, AA Co., Md. Real Estate Sales
Toni,  Good points, we need to get the information out there ourselves. Our office just changed our advertising masthead and setup to leave space for current statistics, graphs and graphics about the positive side of the market.
Oct 11, 2007 06:46 AM #20
Rainmaker
405,566
Simon Conway
Orlando Area Real Estate Services - Orlando, FL

The top ten Metros in the country for the future according to the latest list are as follows:

1. Ocala, FL (13)
2. Wilmington, NC (59)
3. Riverside-San Bernardino-Ontario, CA (10)
4. Phoenix-Mesa-Scottsdale, AZ (15)
5. Orlando-Kissimmee, FL (6)
6. Naples-Marco Island, FL (3)
7. McAllen-Edinburg-Mission, TX (7)
8. Provo-Orem, UT (23)
9. Las Vegas-Paradise, NV (11)
10. Raleigh-Cary, NC (45)

Last year's league position is in parenthesise. This is not a growth league table, but a best outlook in general for the future league table. Please note that Florida has three of the top ten including NUMBER 1!!

Oct 11, 2007 06:52 AM #21
Rainer
274,613
Adam Waldman
Westcott Group Real Estate Company - Hauppauge, NY
Realtor - Long Island
TONI:  It's nice to see some positive signs on the media.  I'm sure that when the market turns again, they will also be the ones to turn people unrealistically euphoric as well.  There doesn't seem to be much middle ground with them.
Oct 17, 2007 01:04 AM #22
Rainer
25,980
Sharon "Toni" Brown
Exit Realty United - South Ozone Park, NY
South Ozone Park - New York City Real Estate

Simon & Adam I am sorry it has taken so long before I commented back.  I have been so busy I guess that is a good thing and I am not complaining.  Simon thank you for adding that information.  Yes Florida will always be up there in the numbers.

Adam I have been keeping my ears peeled and will be happy to post and spread any more good news I find.

Geez I miss AR so much, I will be back soon.

Oct 17, 2007 02:41 PM #23
Rainer
34,541
Marcia Kirtonx
EXIT All Seasons Realty - Brooklyn, NY
Brooklyn, NY - EXIT Realty
Toni - Great report!!! Thanks for sharing.
Oct 18, 2007 11:51 PM #24
Rainmaker
510,233
Ann Heitland
Retired from RE/MAX Peak Properties - Flagstaff, AZ
Retired from Flagstaff Real Estate Sales
It's a good perspective. The media exaggerates!
Oct 26, 2007 07:18 AM #25
Rainer
25,980
Sharon "Toni" Brown
Exit Realty United - South Ozone Park, NY
South Ozone Park - New York City Real Estate

Thanks Marcia - We need to talk.

Ann- I leave the negativity to others.  Making lemonade is fun.

Oct 26, 2007 07:20 AM #26
Rainmaker
215,098
Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Toni,

It's nice to see posative reports. It brings back good memories and hope for better days. Thanks!

Mike Lewis

Oct 27, 2007 01:39 PM #27
Rainer
491,217
"Tommy" Decebal
HomeSpector Inc. 516-851-5833 - Farmingdale, NY
Adamescu Long Island NY MASTER Home Inspector
  • Hi I just Wanted to say Hello and To Introduce Myself.
  • I'm Tommy A Certified Home Inspector here in Long Island. 
  • We're neighbors. I'm located in Farmingdale. And you?
  • Can you introduce your company?I would like to meet my neighbors.
  • Thank you,
  • Tommy
  • Oct 29, 2007 07:39 PM #28
    Rainer
    25,980
    Sharon "Toni" Brown
    Exit Realty United - South Ozone Park, NY
    South Ozone Park - New York City Real Estate

    Mike Yes I would love to see the old days back, Good news is not considered news anymore.  Ever notice the difference in news reports in Canada and the local news here in the US.

    Tommy - How are you?

    Oct 30, 2007 01:21 AM #29
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