Strongest Real Estate Markets

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Real Estate Agent with Majestic Properties 3061802

Finally some great news for Florida - Business 2.0 Magazine ranked the country's strongest real estate markets  and 3 Florida cities made it to the list!  Woo Hoo!  Number one used to be my weekend stompping ground my first year of college at Florida State University, what beautiful beaches! 

Here's the list:

  1. Panama City, FL
  2. Vero Beach, FL
  3. Bridgeport, CT
  4. Lakeland, FL
  5. McAllen, TX
  6. San Luis Obispo, CA
  7. Wilmington, NC
  8. Manchester, NH
  9. Fort Collins, CO
  10. Atlanta, GA

The same article also lists the bottom 10 cities, the safest cities for investors, and the highest portion of households in foreclosure where Miami is number 3 and Fort Lauderdale is number 5.  Sorry Florida, it can't always be good.

My favorite tool in the magazine is the cost of living comparison. - Try it out and see how much money you'll need to keep your same lifestyle in another city.

I usually don't like posting about articles I've read, but this one had great information about each particular city with specific trends and explanations as well as some fun tools like a Renovation Wizard.

 

 

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Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Under contract since August - OUCH!!  Our market is not accepting contingencies here, so they really got lucky.  The market has picked up a bit, but it has to do with price reductions and aggressive marketing.  I wish you luck on that one.

Feb 24, 2007 12:44 PM #35
Rainer
97,628
Doug Beaver
Century 21 Olde Tyme - Corona, CA
Corona Norco Eastvale Riverside Homes
My sister lives in fort Collins CO and ownd three houses, I'll have to tell her about this. It really will not matter because she is holding long term.
Feb 25, 2007 03:30 AM #36
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Doug - send the article to your sister - I'm sure she'll be happy to hear the good news.

Feb 25, 2007 01:48 PM #37
Rainer
2,680
David Lenke
Coldwell Banker Morris Real Estate - Bend, OR

There have been many great articles posted in this section.  My question is why is that the best places to invest, or live or seem to show up as most apperctiating markets are always major cities or their closest suburbs?  For example I live and sell in the Bend/Sunriver Oregon market.  We have over the last 5 years had 100% apperciation and in 2006 when most of the country was not going anywhere we bucked the trend and still did nearly 21% across the board.

We are a destination area that is growing at record pace, and have some industry and big corps coming are way....and we what are we noticed for?  The 2nd most overpriced market in the country.  The reason, because we have some many 2nd homes and people who tele comute to work in big cities that the affordablity index is all screwed up.

Any thoughts from any other little guys (areas) that have gotten the short end of the stick?  I would love to hear peoples thoughts.

Feb 26, 2007 12:50 PM #38
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

David - I've lived in big cities 90% of my life, and the 10% when I lived in small towns, there was something missing, a void that needed filling.  I am not the right person to answer your question about why small towns don't get recognition, but I can tell you from my perspective, it could be a per/capita thing, small towns=small inventory, when you compare percentages to larger cities, the numbers may not be there proportionally.  Any takers on this question?

Feb 26, 2007 12:59 PM #39
Rainmaker
895,158
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

"Ines, I am surprised the Bridgeport, CT made that list, Bridgeport is a pretty tough city, the surrounding areas are nice but Bridgeport is a ruff area.  I use to make sales calls in and around the city and most of the business use to have bars on the windows for security."

When a city makes a turnaround, it's too bad that some folks get stuck in the past.  Bridgeport has a deep water harbor, one of the longest sandy beaches in Connecticut, gorgeous architecture, and a downtown that has great restaurants like Ralph & Ritchies or Joseph's Steakhouse.  My husband andI look forward to going downtown to art gallery exhibitions or concerts and plays.

Remember, one of the most important precepts of real estate is location, location, location.  Bridgeport is within commuting distance of Manhattan and located in Fairfield County, one of the most desirable areas of the country.  Bridgeport is just beginning its renaissance.  Business 2.0 anticipates a 63% rise in value for real estate in Bridgeport over the next five years.  I think it will be higher than that, especially in the Black Rock section of Bridgeport, where the first new Metro North train station will be built in 40 years. 

Feb 28, 2007 02:07 PM #40
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Gail - after your description of Bridgeport, I am not surprised it made the list.  It's articles like this that we need to take seriously because it may be a door to great investments.  To think you could buy waterfront properties in Miami 5 years ago for $200,000 and now they're over $2,000,000!  I only wish I had the vision and would have purchased a couple of them.  Thanks for the heads up. 

I can tell you that Panama City has the most beautiful white sandy beaches and really easy access from bigger towns, if it was closer, it would be a place I would personally invest right away.

Feb 28, 2007 02:40 PM #41
Rainmaker
895,158
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Rick & Ines,

Panama City sounds wonderful.  I have friends who own a place in Costa Rica and plan to retire there.  In the meantime, they travel back and forth.  I can't imagine doing that.  You should know that South Miami is OUR favorite place in the world to vacation.  We go there as often as we can, which hasn't been a lot since my 88 year old dad came to live with us last year, unfortunately!

I love living in the city, but also near the Sound where I can go for a three-mile walk and be on the sidewalk the whole time.  I always run into neighbors on my walk and chat.  I can go across the street from my house to Harborview Market and get an espresso and freshly-baked chocolate chip cookies, they have two fireplaces blazing in the winter and art exhibits on the walls.  Tomorrow night, one of my neighbors (and my client, their house is up for sale) will be performing her cabaret act at the Black Rock Arts Center.  We will bring a bottle of wine and have a great evening with people from the neighborhood.  (She lives here, but was the star of Annie in London at the age of 12 and has performed professionally all over the world until recently when she settled down with her husband and two children). 

Cities are great places to live.  Europeans discovered that centuries ago.  We're just learning how great it is to be within walking distance of restaurants, museums, art galleries, cafes, shops, and cultural activities.  Bridgeport is ideal because it combines the natural beauty of Long Island Sound with a vibrant urban lifestyle. 

Mar 01, 2007 03:18 PM #42
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Gail - that's a post in the making!  Bridgeport sounds amazing - please write the post and you are welcome to leave a link of it here - great for LOCALISM!
Mar 02, 2007 12:36 AM #43
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
I don't see why not Benjamin - let's check in 3 years when the Museum is finished - I hear GREAT THINGS about Louisville!
Mar 02, 2007 04:32 AM #45
Rainmaker
895,158
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT
Rick & Ines,  I think I will write a post on Bridgeport.  I haven't written a public post on my blog yet and that could be my first one.  Thanks for letting me link the post to your blog.  I can't say how soon I can get to it, but you've inspired me!  Thank you. 
Mar 02, 2007 01:37 PM #46
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
I'm looking forward to it Gail - glad to be of help.
Mar 02, 2007 01:52 PM #47
Rainmaker
895,158
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Rick & Ines,

I finally wrote the post on Bridgeport in my blog.  Thanks so much for letting me link it to your blog.  I put a link in the post to your blog so readers could see your post which started this discussion, which got me fired up enough to put up my first public post.  

 

Mar 03, 2007 04:42 PM #48
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Gail, I think you did great with the links - very informative!

Ines

Mar 04, 2007 01:04 AM #49
Rainmaker
895,158
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Ines, I finally figured it out and was able to go back and edit the post.  Thanks!

I can't wait to return to South Beach.  That's where my husband and I go to get away from it all.  We love it there.  We're tied down at the moment with caregiving for my 94 y.o. mom and 88 y.o. dad, but as soon as we can we'll be there.

Mar 05, 2007 03:31 PM #50
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Don't forget to call when you're here - would love to meet you.
Mar 06, 2007 06:07 AM #51
Rainmaker
895,158
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

We will definitely do that.  If I ever make enough money, our second home will be a condo in South Beach.  That's our dream.

Mar 06, 2007 02:49 PM #52
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

It's not that bad Gail - you can still by a studio for under $200K on Ocean Drive and can rent it out by the season, or even weekly.

Mar 06, 2007 03:46 PM #53
Anonymous
Vicky

I would like to buy a home in Panama City Beach.  A subject worries me that no one mentioned(GLOBAL

WARMING).  Severe storms,  permanent flooding due to sea level rise?  Are people confident of getting

their investment back in the event of a major catastrophe to the region.  Especially if all of mostly all of

the capital comes from the individual purchaser?

 

Jul 17, 2007 11:50 AM #54
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Vicky- thanks so much for reading and commenting on this article.  I think you would agree that natural disasters are out of our control and that's why insurance is for.  In Panama City Beach, houses are usually built with everything you mentioned in mind (except Global Warming).  Houses are usually on stilts and have the adequate hurricane protection. 

As much as I would like to tell you that people are confident in getting their "investment money" back in case of a major catastrophe, I would ask that you look at the history of hurricane damage in the area and always get good insurance (that's why we pay so much here in Florida).

Jul 19, 2007 06:52 AM #55
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Rick & Ines - Miami Beach Real Estate

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