Tuesday, July 14, 2009
Forbes' List of Top Best Cities to Buy a Home - Do You Agree??
Forbes.com has recently come out with a list of the best cities in the United States to buy a home. Their results are based on an analysis of the March 2009 RPX Monthly Housing Market Report issued by Radar Logic Incorporated, which examines market fundamentals in the 25 most populated metropolitan areas of the US. Topping their list was Denver followed by Phoenix and Boston. The two major Southern California metropolitan markets, San Diego and Los Angeles, ranked 4th and 5th respectively. At the bottom of the list of the areas ranked by desirability was Las Vegas, followed by Cleveland and Seattle. According to Dan DeNuccio, a local agent with Prudental in Las Vegas, there are a large number of investors out snapping up properties, many with cash and many from foreign countries. "And what's happened here is a lot of those first-time homebuyers that were excluded from the market because of the price range are now in the market and taking advantage of the tax credit", says DeNuccio. Once the investors start coming out, you know there MUST be some good deals out there..
The full text of the article can be found HERE.
Do you agree or disagree with their analysis? Is it possible that areas that are bad for sellers are just as bad for buyers, or does that create even more opportunity??