U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Coastal North Carolina
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 12-11-2008, 06:06 AM
 
Location: Raleigh
1,536 posts, read 5,113,144 times
Reputation: 778

Advertisements

While home values declined 4 percent on average in the last year, values were up nearly 29 percent over the past five years.


According to the Federal Housing Finance Agency, markets that gained the most over the last five years were:
  • 1. Honolulu: up 78.7 percent
  • 2. Virginia Beach: 72.6 percent
  • 3. Flagstaff, Ariz.: 66.5 percent
  • 4. Bellingham, Wash.: 65.6 percent
  • 5. Wilmington, N.C.: 62.1 percent
  • 6. Baltimore: 60.6 percent
Reply With Quote Quick reply to this message

 
Old 12-11-2008, 08:02 AM
 
Location: Durham, NC
2,537 posts, read 8,132,369 times
Reputation: 1624
I bought a home in Flagstaff in Dec 99 for $177k. After 18 months, I sold it for almost $200k. That home was worth around $380k by late-2007, however its value is quickly decreasing now. What's so incredible there, compared to the other cities listed above, is that Flagstaff is a bit of a blue collar town in many respects, so it became almost impossible for many folks to make it work financially there.
Reply With Quote Quick reply to this message
 
Old 12-11-2008, 09:12 AM
 
Location: Raleigh
1,536 posts, read 5,113,144 times
Reputation: 778
I have been to Flagstaff once driving through and it didn't seem like much was going on there.
Reply With Quote Quick reply to this message
 
Old 12-11-2008, 11:08 AM
 
Location: Durham, NC
2,537 posts, read 8,132,369 times
Reputation: 1624
Quote:
Originally Posted by DebbieF View Post
I have been to Flagstaff once driving through and it didn't seem like much was going on there.
Quite the contrary IMO, but I'm an outdoorsy guy and found lots to keep me entertained. Flag is one of the two "winter playgrounds" of Arizona and has a pretty good ski mountain just north of town. There are also countless world class hiking & biking trails in the local forests. As home of Northern Arizona University, Flag's a college town and has a pretty hip and fun historic downtown bisected by the railroad and Route 66. Despite a population of around 60k, its a regional hub for banking, medicine & shopping, so there's quite a bit more going on there than in many other similarly-sized towns. All that, plus being able to wake up on a Saturday morning with no agenda and end up spending the day hiking at the Grand Canyon! Its a great place to live but a tough place to make a living.

But, back to the subject...if we'd only have stayed in Flagstaff another 8 years; of course hindsight is always 20/20!
Reply With Quote Quick reply to this message
 
Old 12-11-2008, 12:38 PM
 
3,677 posts, read 4,209,932 times
Reputation: 2184
Default Snap back to reality

Quote:
Originally Posted by DebbieF View Post
While home values declined 4 percent on average in the last year, values were up nearly 29 percent over the past five years.
Thatís the root problem in the housing market today, house prices went up nearly 30% over the last five years but salaries didnít. Basic economics teaches us that you canít have a product on the market that people canít afford to buy.

Since the housing market wasnít properly managed it overheated and thus boiled over leaving us with a huge mess.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Coastal North Carolina
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top