I truly love working on the West side of Phoenix! It seems everyone is talking about how slow the market is, but then again, for how long can a market run home prices up like it did in 2004 and 2005? Welcome back to reality. The Valley of the Sun is still ranked in the top 10 most attractive markets by Forbes and Moody's.
The weather is nice and warm and we sometimes forget what it's like to have to shovel snow. In short we are spoiled by the wonderful weather in Arizona. I guess I'm not a four seasons kind of guy. We can hit the beach in the summer or ski slopes in the winter in just a few hours. Yea, I'm glad I get to live and work in the Valley of the Sun. So, why aren't you here yet?
Daily Real Estate News | October 9, 200710 Cities Where It's a Great Time to Buy
The real estate business may be facing a softening in sales, but there are parts of the country where it makes sense to buy now. Forbes magazine examined current home sales patterns and sales projects in the country's 40 largest real estate markets to identify these attractive markets.
Based on models that estimated 2008 housing inventory, sales rates, and turnover, the magazine compiled a list of markets that are experiencing price declines, but where buying looks attractive because there is likely to be an increase in sales in the near future.
Here are Forbes' and Moody's 10 most attractive markets, along with the median homes sales price and their price change from 2006.
Fort Worth, Texas: $156,500, 1.7 percent
Kansas City, Mo.: $157,700, -0.7 percent
Houston: $154,900, 1.4 percent
Cleveland: $128,700, -7.1 percent
Denver: $255,200, none
Long Island, N.Y.: $482,300, 1.7 percent
Washington, D.C.: $445,300, 0.3 percent
Orlando, Fla.: $265,100, -2.4 percent
Phoenix: $264,800, -2.7 percent
Las Vegas: $307,900, -3.6 percent
Source: Forbes, Matt Woolsey (10/08/07)
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