Thursday, December 01, 2005

Top 20 Metro Areas for 1 YR Appreciation

(click on image for larger version)
16 of the top 20 metro areas are either in Florida or California.


  1. Interesting that no DC, NY, Boston, etc. on that list. Bubble may have stalled in NE.

    Actually, few big cities on there at all (though I am not good on CA and FL geography). My guess is that these are people moving out of cities in CA and speculation on vacation properties in FL.

  2. I would guess that a lot of those bigger cities are probably right below #20, and I agree a lot of FL and AZ are speculation and vacation homes. NY has been in the 20% range and I think Boston has too, so they can't be far behind.

  3. I would have to agree that the bubble has stalled in the NE- price rises in New England and the rest of the megalopolis have basically froze in the last few months-while inventory has grown. The fastest price rises recently have been in-----no surprise to me----Inland California. AZ and parts of Florida. The NE is also where the economy seems to be sputtering according to the lastest FED Biege book- is that telling us something? Perhaps. However those areas with the fastest growth also have had overbuilding and more massive speculation, and their fall will be quicker in the end and much deeper then the NE.

  4. I have owned in Naples, Florida for over twelve years. I now have 3 places - so, I tend to follow that market. I don't see the overt speculation that has occurred in Miami with the new condo's etc.

    I think demographics (retiring Baby Boomers) has had a significant impact on prices. Also, the cost of housing appears resonable compared to here (northern virginia). Clearly, however, I could not afford to pay current prices for my properties. We bought when we did because we wanted a place in Naples and thought that the tenants could pay it off for us. Our retirement home would be free and clear by the time we needed it. So far, so good.

    I don't think it is smart to speculate. We had a plan and already owned rentals in Virginia. We now owe about 130K on real estate worth over 2.5million in Naples. Watch out, however, if you don't have a long term plan. There is tons of developable(sp?) land down there and I have seen that market stagnate in the past.

  5. these stats are yesterday's news. most of those prices in fla, nev, ariz, and cal have peaked.

  6. Many people are leaving California faster than you think. I am one of them. I have been here 16 yrs, and made the mistake of thinking it was overvalued between 1997 to 2003. My family finally got fed up with being one of the middle class with no future here (East Bay near San Francisco). We are in the process of purchasing a 3bd/2ba 1800 sqft, nice yard, completely remodeled home in the most desirable part of Albuquerque for $192k. Pymt will equal what CA rent has been. Best stat - a Uhaul from Bay area to ABQ is about $3000. ABQ to Bay area is $120 to $200. Ciao to California. The golden dream has turned to a nightmare.