Cities Where Home Prices Are Collapsing

The top 10 areas where home prices are expected to drop by 7.5% or more:

And this can be yours for the looowww, looowww, price of.......

10. Ocean City, NJ

9.   Las Vegas, NV

8.  Panama City – Lynn Haven – Panama City Beach, FL

7.  Flagstaff, AZ

6.  Merced, CA

5.  Cape Coral – Fort Myers, FL

4.  Riverside – San Bernardino – Ontario, CA

3.  Naples – Marco Island, FL

2. Phoenix – Mesa – Glendale, AZ

1.  Detroit- Livonia – Dearborn, MI

A number of these cities have private communities listed on Across the Fence.  Check them out to see if you can find a bargain!

http://247wallst.com/2012/05/09/cities-where-home-prices-are-collapsing/2/

Cities With the Most Realistic Listing Prices Compared to the Actual Sales Price

The following cities have the most realistic sales price compared to the listing price as reported by Smart Money:

1.  Las Vegas, NV – 1.5% difference

2.  Boston, MA – 2%

3.  Tampa, FL – 3%

Click here to read the full article, which also talks about the cities with the least realistic listing versus actual sales price:

Cities With Least Realistic Home Prices – Real-Time Advice – SmartMoney.

Take Advantage of Discovery Packages Offered by Planned Communities

This post was contributed by guest blogger, College Football Fan:

And that's where the clubhouse is...

Most planned communities have Discovery Packages in which they invite potential property owners to visit the community and explore its amenities.   The Discovery Packages serve the planned community and the potential property owner.  The planned community can let the potential buyer sample the real estate by staying two or three nights in a home or condo on the property or in the alternative stay at a local hotel offsite.  The potential buyer benefits by visiting the community and having a first-hand experience to see what it would be like living in the community.  The potential buyer usually will pay a fee ranging from ninety-nine dollars to a couple of hundred dollars for a two or three night stay and be able to take advantage of the community amenities.

The potential buyer normally will be able to sample the golf course, clubhouse, swimming pool, fitness center, tennis courts and other amenities.  The individuals will be able to obtain a snapshot of the housing in the community, the layout, and the fee structure of the community.    Having informational questions prepared to ask current residents can provide a valuable insight into the pros and cons of living in the community.  Again, as in a previous blog, any potential property owner should obtain the distance of the property from the fire department that serves your community.  If it is greater than five miles, the potential buyer needs to carefully scrutinize the potential cost of homeowner’s insurance.

Keep in mind by participating in the Discovery Package the visitor will be obligated to take a tour of the properties with a community representative.  While the Discovery Package may be considered an inexpensive vacation, the community representative hopes the visitor is interested in purchasing property and will purchase property in his/her planned community.  Planned community representatives normally conduct their real estate tours in a professional and relaxed manner.  The potential buyer should display full courtesy and attention to the community representative while touring the available properties.  You may also note that there may be more of an effort to sell land rather than condos/single family homes, as the agent obtains a greater commission when the former is sold.

So, when considering the purchase of property in a planned community, take advantage of the Discovery Packages offered.  You will gain valuable information that will aid in selecting a lot or home.

Cities With the Least Realistic Home Sale Prices Compared Against the Listing Prices

Cities where the gap between the listing price and the actual sale price is the greatest according to SmartMoney:

1.  Atlanta, GA – 40% gap

2. Jacksonville, FL – 34% gap

3.  Washington, DC – 13%

Read the full article here:

Cities With Least Realistic Home Prices – Real-Time Advice – SmartMoney.

Another Reason Foreclosed Homes Are Bad for a Community

Really - it's just for medicinal purposes....

Just when you thought you had heard of all of the reasons why having foreclosed homes in your community were bad for the neighborhood, here come the pot growers.  Apparently low-cost housing in California, in particular, is attracting a criminal element buying and renting newly affordable homes in middle-class and upscale communities to use as marijuana grow houses.  Indoor growing conditions produce a superior product compared to marijuana grown outdoors, which makes using grow houses appealing.  Additionally, the weakening social ties within communities as people leave their homes behind and more transient residents come in, means that neighbors are not getting to know each other and spotting behaviors or activities not desirable in their neighborhood.

How can you prevent this in your neighborhood?  Help sell the foreclosed properties by telling everyone how great it is to live there in a review on Acrossthefence.com!

To read the full article about Weeds in real life, click here:

Marijuana Growers Move to the Suburbs – NYTimes.com.

A Good “Library” Within a Planned Community is a Hidden Jewel Amenity

This blog entry was contributed by guest blogger, College Football Fan:

The Beautiful Library at Seabrook on Seabrook Island, SC

What is a considered a library within a planned community?  It probably will be different from what was utilized in your previous town.  The library in a planned community can range from a room that is a storage deposit for unwanted books, magazines and games that residents wish to discard to a more sophisticated level where there is a pleasing environment which houses books, current magazines, comfortable sitting chairs and perhaps even a few computers. Residents will find it relaxing to spend time in the library reading a book or magazine or perhaps checking out a book.

The library can be an inexpensive amenity with minimal rules.   A room or building is needed to house a library.  Sitting chairs (and computers) can be donated or bought cheaply.  Books and magazines will be donated by the residents. Book cases or shelves in which to place the books are needed.  The books can be filed in alphabetical order by the author’s last name.  Rules for the library operation will be minimal.   For example, checking out a book is easy:  merely walk out the door with the book and return it when finished, and not counting classics, no books greater than 10 years old should be contributed to the library.  Now that it is known what goes into the library, the next consideration is where to house the library.

The location of the library is important.  For example, a library with easy access by a multitude of swimmers will be detraction for patrons who wish to spend time in the library.  In addition, if there are computers in the library and especially if the computers are located near areas where children congregate, such as a playground or a swimming pool, the children often use the computers for social networking and playing games.  Consequently, adult residents are discouraged from using the library when adolescents monopolize the computers and exhibit behavior that mature adults like to avoid.

In summary, most adults enjoy reading and having a library in a planned community is an inexpensive and useful amenity.  Many adults who do not use the swimming pool, fitness center, golf course, etc. in a planned community may take advantage of the library.

An informative article on libraries in metropolitan condo buildings can be found in  “A Soft-Spoken Amenity” In the New York Times , Real Estate section, Sunday, April 8, 2012. 

5 Cities Where Home Prices Hit New Lows

Here are 5 cities where home prices hit new lows from their peak prices in  2006/2007:

1.  Las Vega, NV –  down 62%

2.  Tampa, FL – down 48%

3.  Atlanta, GA – down 39%

4.  Chicago, IL – down 37%

5.  Seattle, WA – down 33%

To read more about why prices are falling in these areas, read the full article at:

5 Cities Where Home Prices Hit New Lows – Real-Time Advice – SmartMoney.