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Some Real Estate Markets Appreciate

Destin, FL (PRWEB) February 4, 2008

Despite severe damage from the mortgage crisis, there are real estate markets that are experiencing appreciation in the U.S., according to the new forecasts by Housing Predictor. Nearly a quarter of more than 250 local housing markets forecast are projected to appreciate in 2008.

Housing Predictor issues housing market forecasts in all 50 U.S. states annually and updates its reports and forecasts regularly throughout the year as local market conditions demand, including the Top 25 and Worst 25 market forecasts.

In 2007 Housing Predictor accurately forecast 86% of its local housing markets within a 1 to 2 percent margin of error. Leading realty companies, new home builders, Wall Street investment bankers, investors, many of the country’s largest retailers and consumers depend on Housing Predictor.

Reports on all 50 states housing markets are available on the web site along with forecasts for 2008 appreciation and deflation. Housing Predictor also forecast the national real estate recession in 2007, the foreclosure crisis, predicting more than 3-million homes would be foreclosed through 2009 and the Fed’s path to cutting mortgage interest rates.

While the nation wonders whether the real estate market down turn will send the U.S. into an economic depression, Housing Predictor analysts and researchers independently gather information and track more than 250 housing markets to keep visitors up to date on real estate.

With the slowdown in real estate sales hitting near historic lows in many parts of the nation, American home owners want to know more than ever how their real estate market is fairing.

Foreclosures have hit 1.8 million nationwide as a result of the credit crisis and are only expected to worsen in the next two years with more than 2-million adjustable rate mortgages resetting. More than 50 percent of all mortgages now in default are held by investors. Housing Predictor will also be extending its foreclosure forecast into 2011 in the near future.

To check your market forecast, search real estate listings and search foreclosures visit http://www.housingpredictor.com.

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U.S. Real Estate Markets With Consistent Price Appreciation
Discover the truth about real estate!

Buying home, condo or any other real estate in a market that is protected from a bursting bubble is every investor’s dream. Knowing where to look for these bubble-proof markets and how to identify them is crucial.

There are some important factors that investors should consider when searching for stable investments such as single-family homes, condos or any other type of real estate. Some of these factors include a fast growing population (which positively impacts the demand for housing), a solid and diverse economy (which impacts employment rates and subsequent demand for housing), rising incomes (which impacts buyers’ ability to purchase real estate), a developing infrastructure (which contributes to the appeal of a city or community), and restrictions on future real estate development (which limits future supply of real estate). Investing in real estate within communities that meet these criteria may prove to be more profitable than communities that are missing one or more of these factors.

A recent report by Business 2.0 Magazine identified U.S. cities that have consistently demonstrated price appreciation in the real estate market. The October 2006 issue of the Magazine identified the top 5 real estate markets that demonstrated an upward price trend over a long period time. The top-ranking cities were:

1. San Francisco, California
2. Los Angeles, California
3. Seattle, Washington
4. Boston, Massachusetts
5. New York City, New York

San Francisco topped the list with an average annual home price appreciation of 4.2% from 1949 to 2006. In contrast, the national average was 2.3%. Strong restrictions on real estate development and a limited geography helped push San Francisco to the top slot.

Los Angeles ranked second in the report. The average annual home price appreciation in Los Angeles was 3.7% from 1949 to 2006. Reductions in available land and increasing restrictions on further development helped pushed Los Angeles to the number 2 slot.

Home prices in Seattle, which was third on the list, demonstrated an average appreciation rate of 3.2% from 1949 to 2006. While Seattle made the top 5 list, recent easing of building restrictions may cause Seattle to fall out of the top 5 over the next few years.

Boston was fourth in the rankings. The city has seen annual home prices appreciate by 3% over the period from 1949 to 2006. A strong increase in per capita income contributed to Boston’s high ranking.

New York City follows close behind with an average annual home price appreciation of 3% from 1949 to 2006. A limited geography, large population, and finite number of properties contributed to New York’s high ranking.

While there is no guarantee that any of the real estate markets listed previously are truly “bubble proof,” the factors described above may help investors find the profitable markets and avoid “bubble” markets. Since the real estate market is constantly changing, be sure to seek out the services of a skillful real estate agent to help you navigate your next real estate purchase.

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