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Old 02-07-2008, 10:44 PM
 
Location: Southeast Missouri
5,812 posts, read 16,657,970 times
Reputation: 3335

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10. Houston, TX
9. Richmond, VA
8. Jacksonville, FL
7. Las Vegas, NV
6. Seattle, WA
5. Phoenix, AZ
4. Charlotte, NC
3. Orlando, FL
2. Raleigh, NC
1. Salt Lake City, Utah

Best Cities For Bargain House-Hunters - Forbes.com (http://www.forbes.com/forbeslife/realestate/2008/02/07/house-bargain-hunters-forbeslife-cx_mw_0207realestate.html - broken link)

Interesting.
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Old 02-08-2008, 07:09 AM
 
Location: Portland, Maine
4,180 posts, read 13,052,874 times
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I am surprised to see Seattle on that list. I thought it was very expensive there.
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Old 02-08-2008, 08:31 AM
 
480 posts, read 2,115,412 times
Reputation: 375
Quote:
Originally Posted by STLCardsBlues1989 View Post
10. Houston, TX
9. Richmond, VA
8. Jacksonville, FL
7. Las Vegas, NV
6. Seattle, WA
5. Phoenix, AZ
4. Charlotte, NC
3. Orlando, FL
2. Raleigh, NC
1. Salt Lake City, Utah

Best Cities For Bargain House-Hunters - Forbes.com (http://www.forbes.com/forbeslife/realestate/2008/02/07/house-bargain-hunters-forbeslife-cx_mw_0207realestate.html - broken link)

Interesting.
The whole list is invalidated, for too many reasons to list.

Las Vegas' inventory is sky-high right now. Ditto with Phoenix. Unless you plan to stay in those cities for a long time, buying a house there is not the best thing to do for a good 2-3 years.

Seattle's prices are not only sky-high, but the market is slowly considerably (due to the credit crunch). With Seattle being such a transient-friendly area (meaning that people here -- from movers-and-shakers on down to college students -- tend to move around a lot and leave the area within 5 years), it's not the best idea to throw a lot of money at a house that you may not stay in if buyers are reluctant to buy.

Raleigh? Charlotte? Really? Bargains to Northeasterners, perhaps, but rather over-priced by my estimate.
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Old 02-08-2008, 08:34 AM
 
Location: Iowa, Des Moines Metro
2,073 posts, read 4,951,695 times
Reputation: 1095
Wow Seattle? Strange....
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Old 02-08-2008, 08:36 AM
 
7,278 posts, read 13,529,272 times
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Quote:
Originally Posted by SeattlitefromNC View Post

Raleigh? Charlotte? Really? Bargains to Northeasterners, perhaps, but rather over-priced by my estimate.
Compared to other parts of NC they're a touch pricey. Compared to most major cities, they're quite cheap.
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Old 02-08-2008, 08:58 AM
 
480 posts, read 2,115,412 times
Reputation: 375
Quote:
Originally Posted by CarolinaBredChicagoan View Post
Compared to other parts of NC they're a touch pricey. Compared to most major cities, they're quite cheap.
Raleigh's and Charlotte's fundamentals are built on the same principle as Phoenix's real estate empire:

(1) Phoenix was championed as a cheaper alternative to CA living.

(2) Phoenix had little-to-no barriers to development. Developers went hog-wild and overbuilt. When demand dropped, inventory soared.

This is not a knock to either Raleigh or Charlotte, but facts are facts ... both places are not only expensive for where they are located, but with few barriers to development, it means that if/when things take a downturn, you will have boatloads of the same cookie-cutter houses are vying for a few buyers' attentions.

Right now, the saving grace is that Raleigh and Charlotte are often compared to Northeastern counterpart cities and not other Southeastern cities. Also, there is the job aspect. It does not stand to reason, however, that if the job situation gets dicey -- and there is already some evidence of this -- that Raleigh and Charlotte could not suffer the same consequences that Phoenix did.
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Old 02-08-2008, 09:17 AM
 
2,356 posts, read 2,642,165 times
Reputation: 864
I don't understand why Charlotte and Raleigh are up there are "bargains." It seems like bargains would be in the areas where the housing bubble has burst, which for the most part doesn't include NC.

Just because NC is cheaper than these previously red-hot California, Florida, Arizona, New York/New Jersey markets, doesn't mean that it is a bargain.
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Old 02-08-2008, 10:02 AM
 
Location: Zurich, Switzerland/ Piedmont, CA
32,375 posts, read 55,173,351 times
Reputation: 15454
Wow, all those places are cheap!

Im jealous.
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