Billy Florence: Overpriced Housing Markets
CNNMoney.com recently had an article that gave a list of major cities around the country and it showed whether homes were overpriced, underpriced, or a fair value.
What was the most overpriced city in the country?
By Winzer's figuring, Santa Barbara is the most overpriced housing market in the nation (see table below). The median home there costs $567,300, 80 percent more than it should.
Naples, Fla. is a close second - the median home there will set a buyer back $417,400, 74 percent above equilibrium. Will Naples pass Santa Barbara as No. 1? Prices there rose 38 percent during the past year versus just 11 percent in Santa Barbara.
Read the article to learn about different cities. It is a good reference to have:
http://money.cnn.com/2006/07/25/real_estate/housing_market_values/index.htm
© 2006 Florence News reprint permission to Billy Florence Team Dream Chasers blog.
What was the most overpriced city in the country?
By Winzer's figuring, Santa Barbara is the most overpriced housing market in the nation (see table below). The median home there costs $567,300, 80 percent more than it should.
Naples, Fla. is a close second - the median home there will set a buyer back $417,400, 74 percent above equilibrium. Will Naples pass Santa Barbara as No. 1? Prices there rose 38 percent during the past year versus just 11 percent in Santa Barbara.
Read the article to learn about different cities. It is a good reference to have:
http://money.cnn.com/2006/07/25/real_estate/housing_market_values/index.htm
© 2006 Florence News reprint permission to Billy Florence Team Dream Chasers blog.
posted by Billy Florence at
5:48 PM
