When selling a home, the thought was always “location, location, location’. As the market changes so has the focus- lifestyle options are now a priority for buyers and how the surrounding community can affect their decision to buy or not to buy.
Often sellers focus predominantly on their home and the upgrades and amenities. While those features are very important, remember that practically any home can be remodeled. If you’re in an excellent location with easy freeway access, on a low traffic street in a friendly neighborhood, surrounded by retail stores and hot dining spots, it’s time to play it up. Those features aren’t always easy to find.
Of course, here in Bend it’s a quick drive to so many amazing things it’s no wonder we see Bend listed as the 2nd best housing market for the next 5 years!
We hope Bend makes the list!
While home prices are expected to continue to fall in most metro areas, Clear Capital’s Home Data Index report says a few cities are already on the rebound and showing some gains in home values.
“There really is this segmentation of these markets occurring where the one-size-fits-all national level numbers to represent all numbers really isn’t valid anymore,” Alex Villacorta, senior statistician at Clear Capital, told MSNBC. “Overall we’re seeing prices start to stabilize going into 2011, but unfortunately some of those markets will stabilize in the downward direction where others will see a sustained recovery.”
Clear Capital takes into account unemployment rates, foreclosure rates, and real estate inventory in its index.
The following is a list of 10 cities that Clear Capital expects will rise in property value in 2011:
1. Washington, D.C.: 6.5 percent price increase
2. Houston: 3.6 percent price increase
3. Honolulu: 3.4 percent price increase
4. Memphis, Tenn.: 3.2 percent price increase
5. Columbus, Ohio: 2.1 percent price increase
6. Dallas: 1.4 percent price increase
7. New York: 1.3 percent price increase
8. Birmingham, Ala.: 0.9 percent price increase
9. Pittsburgh: 0.8 percent price increase
10. New Orleans: 0.5 percent price increase
Meanwhile, Clear Capital reports that real estate markets in Florida and the Western parts of the U.S.—such as cities in Arizona and “Breadbasket metros” like Oklahoma City, Okla., and Dayton, Ohio—likely will see the largest price drops in home values over the year. Virginia Beach, Va., is expected to have the highest drop in 2011, with a 12.8 percent price decrease, according to Clear Capital report.