10 Best Cities for Real Estate in 2006

By
Real Estate Agent with The Melcher Agency

Buy, sell or hold seems to be the biggest worry of homebuyers and real estate investors in the 2006 residential real estate market. After solid double-digit appreciation in many major markets in the last five years, investors and homebuyers alike see the brakes on growth in 2006. Where to go? Mark Nash real estate author of 1001 Tips for Buying and Selling a Home lays out where investors and homebuyers can make a go at it in 2006.

 

  • Atlanta, Georgia. Below average appreciation rates that have not matched other major markets.
  • Austin, Texas. Good news here, affordable housing prices attracting employers. Rising appreciation.
  • Boise, Idaho. New on real estate investor's radar, attracting scores of out-of-state buyers. Good profit prospects.
  • Dallas, Texas. Prices creeping upward, fueling investor interest.
  • Houston, Texas. Demand from Katrina transplants driving a strong market.
  • Las Vegas, Nevada. Market returning to normal appreciation rates, demand stays steady.
  • Phoenix, Arizona. Ignored in the boom, now being discovered by investors. Most cities here are bargain-priced.
  • San Antonio, Texas. Waking from a stagnant appreciation period. Good returns projected here.
  • Seattle, Washington. Good economy and low inventories offer attractive appreciation gains in 2006.
  • Milwaukee, Wisconsin. Solid Midwestern values speculate-proof this burgeoning market.

by Mark Nash

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Rainer
100,192
Kaushik Sirkar
Call Realty, Inc. - Chandler, AZ
I hope its just a misprint....but this guy is smoking crack with his assessment of Phoenix for 2006.  If anything, Phoenix was the 'posterboy' of the boom.  Also, did you mean to post something for 2007???
Jan 02, 2007 09:36 AM #1
Rainmaker
545,627
Mario Trejo
The Melcher Agency - Phoenix, AZ
Romero, CRS, CDPE

No it was not a misprint. This came out end of last year. Our market is normalizing and sales are where they were in 2003. We just have lots of inventory that has to be absorbed. The outlying areas are being hurt the most becsues of all the new construction.

 

 

Jan 02, 2007 09:43 AM #2
Rainer
100,192
Kaushik Sirkar
Call Realty, Inc. - Chandler, AZ
If not a misprint, I would think the author is grossly mistaken then.  1) Phoenix wasn't ignored during the boom.  2) Investors (a large chunk of them) have previously found Phoenix and have since left.  Undoubtedly a smaller # (likely local) of investors are still operating.  3) Most cities in Phoenix are no longer bargain priced.  Sure they used to be, but our median price is now well above the national average.  One could argue that we are bargain priced compared to places like Cali, NYC, Boston, but not the majority of the country.
Jan 02, 2007 09:54 AM #3
Rainmaker
545,627
Mario Trejo
The Melcher Agency - Phoenix, AZ
Romero, CRS, CDPE

Keep in mind that we still growing rapidly and expect to for a few more years. We just overtook Nevada in growth.  Yes we are going to see more realistic values come of it. I personally believe we will see a 10-11 percent adjustment from 2005.  Thanks for your input

 

 

Jan 02, 2007 10:00 AM #4
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Rainmaker
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Mario Trejo

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