2007 Housing Report - The Best & Worst

[berniecmps]

According to a report by CNN, the 5 most expensive housing markets in the USA in 2007 along with average home prices were Beverly Hills, CA $2,206,883, Greenwich, CT $2,018,750, La Jolla, CA $1,800,000, Santa Monica, CA, $1,785,000, and Palo Alto, CA $1,687,000 .

The 5 least expensive housing markets in the USA in 2007 along with average home prices were Killeen, TX $136,725, Minot, ND $139,033, Arlington, TX $139,175, Canton, OH $146,333, and Muncie, IN $150,000.

According to the National Association of Realtors, the 5 cities with the biggest drop in home prices in 2007 were Palm Bay, FL $182,400 (median price) 12.4% (price drop), Sacramento, CA $335,700 (median price)10.5% (price drop), Sarasota, FL $287,400 (median price) 10.4% (price drop), New Orleans, LA $160,200 (median price) 8.2% (price drop), and Hagerstown, MD $208,400 (median price) 8.0% (price drop).

The 5 fastest appreciating housing markets were Bismarck, ND $161,600 (median price) 15.3% increase, Salt Lake City, UT $246,700 (median price) 14.1% increase, Yakima, WA $163,200 (median price) 13.6% increase, Binghamton, NY $119,600 (median price) 11.4% increase, and Charlotte, NC $220,100 (median price) 11.0% increase.

[LOTrainer]

According to a report by CNN, the 5 most expensive housing markets in the USA in 2007 along with average home prices were Beverly Hills, CA $2,206,883, Greenwich, CT $2,018,750, La Jolla, CA $1,800,000, Santa Monica, CA, $1,785,000, and Palo Alto, CA $1,687,000 .

The 5 least expensive housing markets in the USA in 2007 along with average home prices were Killeen, TX $136,725, Minot, ND $139,033, Arlington, TX $139,175, Canton, OH $146,333, and Muncie, IN $150,000.

According to the National Association of Realtors, the 5 cities with the biggest drop in home prices in 2007 were Palm Bay, FL $182,400 (median price) 12.4% (price drop), Sacramento, CA $335,700 (median price)10.5% (price drop), Sarasota, FL $287,400 (median price) 10.4% (price drop), New Orleans, LA $160,200 (median price) 8.2% (price drop), and Hagerstown, MD $208,400 (median price) 8.0% (price drop).

The 5 fastest appreciating housing markets were Bismarck, ND $161,600 (median price) 15.3% increase, Salt Lake City, UT $246,700 (median price) 14.1% increase, Yakima, WA $163,200 (median price) 13.6% increase, Binghamton, NY $119,600 (median price) 11.4% increase, and Charlotte, NC $220,100 (median price) 11.0% increase.

Good ole Greenwich, CT can be counted on for some extremely high home prices! I am about an hour and fifteen minutes from there, and there is a HUGE drop in price range!

This is excellent information, thanks, Bernie!

[berniecmps]

LOTrainer,

I wanted to find out since you are somewhat close to Greenwich CT have you closed many loans in that part of town.

I was there in 1999 when I was visting some family in Rhode Island, and was shocked to see homes as beautiful as those homes I saw in Greenwich.

[LOTrainer]

LOTrainer,

I wanted to find out since you are somewhat close to Greenwich CT have you closed many loans in that part of town.

I was there in 1999 when I was visting some family in Rhode Island, and was shocked to see homes as beautiful as those homes I saw in Greenwich.

Honestly, I have closed not a single one loan in lower Fairfield County. The farthest south in CT that I have written a loan is Stratford. Past that point, you start to get into higher cost marketing campaigns and a very very tight knit circle of Realtors and mortgage professionals (meaning companies that have strict partnering rules with regard to who gets the referrals).

So, as much as I would like to have a part of that huge loan volume, I stick to my cost efficieint areas.

[securityonefinancial]

haha i'm actually a little surprised that there are some houses still appreciating...

seems to me like all the loans i do, the houses are depreciating...