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.
Posted by David at 3:13 PM

3 comments:

  1. AnonymousDecember 01, 2005 1:02 PM

    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.

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  2. AnonymousDecember 01, 2005 2:59 PM

    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.

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  3. AnonymousDecember 02, 2005 12:01 PM

    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.

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