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10 bad cities to buy ss


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10 markets projected to decline this year

10 markets projected to decline this year

Published in: Real Estate

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    • 1. 10 Places You DON’T Want To Buy A House
    • 2. 10. Elkhart, IN • Despite a lower-than- average unemployment rate, Elkhart home values are expected to fall • Elkhart’s home values are still 13% below pre-crash values Projected 1-Year Decline: 0.9% Public domain
    • 3. 9. Provo, UT • Provo’s home values declined by more than 3% over the past year, and are expected to continue to do so • Provo’s market has barely rebounded, and is currently just 8% higher than the 2012 lows Projected 1-Year Decline: 1.0% Michael Duersch
    • 4. 8. Santa Fe, NM • Santa Fe’s home values are just 3% above the lows • If the declines continue, we could see new post-crisis low prices in Santa Fe Projected 1-Year Decline: 1.1% Wikipedia/ prazak
    • 5. 7. Columbia, MO • Columbia’s home values have declined almost 4% in the past year • The market is ranked just a 1.4 out of 10 on Zillow’s “health” index Projected 1-Year Decline: 1.1% Wikipedia/ csch15
    • 6. 6. Ocean City, NJ • Ocean City has an expensive market, with the average home worth about half a million dollars • Superstorm Sandy has created a difficult housing recovery in the area Projected 1-Year Decline: 1.6% Wikipedia/ Arabsalam
    • 7. 5. Houma, LA • Houma’s market has rebounded strongly since the crisis, and may have come too far, too fast • The average home value in Houma is actually more than its pre-crisis peak Projected 1-Year Decline: 1.8% Wikipedia/ infrogmation
    • 8. 4. Charlottesville, VA • Charlottesville actually has a fairly robust market, with far fewer underwater mortgages and delinquent homeowners than the U.S. average • However, the average listing price has risen more than 22% in the last 18 months alone, leaving the market due for a pullback Projected 1-Year Decline: 1.8% Bobak Ha’Eri
    • 9. 3. Cape Cod, MA • Cape Cod’s home values are still well below the pre-crisis peak • After a strong 2013, home values have already begun to fall this year Projected 1-Year Decline: 2.0% Flickr/ Phillip Capper de Wellington
    • 10. 2. Baton Rouge, LA • Baton Rouge has a relatively inexpensive market, with the average home worth $138,400 • However, the market barely budged during the crash, and is now 5% higher than its pre-crisis peak Projected 1-Year Decline: 2.5% Public domain
    • 11. 1. Kingston, NY • Kingston has one of the least healthy real estate markets in the U.S. • 24% of Kingston’s homeowners are underwater on their mortgage • Nearly 14% of all mortgages are currently delinquent in Kingston Projected 1-Year Decline: 2.5% Daniel Case
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