Top 25 Appreciating Real Estate Markets —Yes, there are 25 places appreciating this year

Posted on September 13, 2008. Filed under: -- Austin Related, -- For The Investor In YOU, -- Real Estate Guide For Today's Market, -- Top 10... | Tags: , , , , |


 

    By Molly Greaves     

As you will learn from my upcoming blogs, I have been recently focusing heavily on learning about real estate investing. I think having real estate and REAL assets are great to have in all economies. Regardless of the economy, there are always great deals and opportunities in the RE market. I own one REIT Mutual Fund but want to have the ability to create multiple streams of income with real estate, not just a dividend here and there.

So, I’ve been very busy working with a real estate investor/builder/developer part-time to get some hands on experience, so I can eventually put what I do on auto-pilot and collect residuals and cashflow while I’m sipping a drink on the beach in Europe or wherever. 

Anyway, through some of my research today, I stumbled across this chart, courtesy of  HousingPredictor.com and thought I would share it with you. You’ll notice how Austin again ranks at the top of this list, and it’s pretty cool that my community has the opportunity to continue to feel appreciation while others are saddened by the loss of their property value compared to a few years ago.

If you read ALL of the Top 25, you’ll see that Texas is on the chart 3 times (Austin, Lubbock and Amarillo). I try and tell people that have never been here and think the whole state is just tumble weed and snakes.  Texas is MUCH cooler than people might think, although not everyone believes me. Fortunately many are starting to discover what I discovered just over 3 years ago when I moved here.

Either way, I love Texas and I think it’s fair to say everyone that lives in Texas does too, especially when our property values are appreciating =).  Top 25 US Appreciating Real Estate Markets  Rank    Real Estate Market   2008 Forecast     1.    Biloxi, MS        4.9%     2.    Salem, OR        4.7%     3.    Bismarck, ND        4.6%     4.    Spokane, WA        4.4%     5.    Yakima, WA        4.1%     6.    Austin, TX        4.0%     7.    Grand Junction, CO        4.0%     8.    Fargo, ND        4.0%     9.    Mobile, AL        3.9%    10.    Idaho Falls, ID        3.8%    11.    New York, NY        3.8%    12.    Glen Falls,NY        3.8%    13.    Salt Lake City, UT        3.8%    14.    Grand Forks,ND        3.8%    15.    Pascagoula, MS        3.8%    16.    Hattiesburg, MS        3.7%    17.    Albuquerque, NM        3.5%    18.    Kellogg, ID        3.5%    19.    Boise, ID        3.5%    20.    Provo, UT        3.1%    21.    Ogden, UT        2.7%    22.    Edmond, OK        2.6%    23.    Oklahoma City, OK        2.5%      

24. Amarillo, Texas 2.4% 25. Lubbock Texas 2.3%                           Top 25 Markets Shake-Up     

The once top-rated housing market Yakima, Washington is beginning to run out of gas, and falls from the number #1 forecast position in Housing Predictor’s Top 25 markets for 2008.

After years of strong sales and appreciation, the Yakima market is slowing and is forecast to slide over the rest of the year. A ripple effect of tighter mortgage lending standards and increasing inventory is beginning to impact the marketplace.

Biloxi, Mississippi all but destroyed by Hurricane Katrina, is in the number one position. A government sponsored program is helping the area rebuild what was once the second largest casino business in the country to Las Vegas.

The Top 25 with the highest forecast appreciation have the greatest probability of reaching their forecast of the more than 250 local housing markets Housing Predictor forecasts.

Conservative North Dakota with one of the strongest statewide economies nationally, and the lowest subprime mortgage activity in the country, placed three cities on the list. Four states each placed three communities on the list.

Interestingly, the top markets for 2008 are scattered throughout all parts of the U.S. from the west to the east and into the southern states. No particular region of the country was more dominate than another as more and smaller communities based on population made the Top 25, which have less appreciation forecast than earlier in the year.

 

SORRY the table wouldn’t insert and that the numbers are not aligned. If someone can show me how to fix that with the given blog tools, please feel free to let me know! THANKS in advance…

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One Response to “Top 25 Appreciating Real Estate Markets —Yes, there are 25 places appreciating this year”

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Interesting article Molly!

As for the table, have you tried pasting it into a google document, and then pasting it back into the wordpress editor?

Garreth


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