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.
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.