Top 10 Cities for a Real Estate Bargain
Bargain hunters, get ready
Today, Zillow.com and Good Morning America uncovered what they’ve deemed the “Top 10 cities to bargain for a house.”
Zillow said that to determine the list, several factors were considered “including where buyers were able to negotiate the biggest discount off the last list price, days listed on Zillow, Zillow Home Value Index, and percentage of foreclosure resales.”
The top ten cities:
- Naples, FL
- Cape Cod, MA
- Charleston, SC
- Merced, CA
- Chicago, IL
- Atlantic City, NJ
- Cleveland, OH
- New York City, NY
- Flagstaff, AZ
- Pittsburgh, PA
Each of these cities is quite different than the other, not only in the makeup of each metro area, but in their median prices, average style of home, lifestyle offerings and more, yet the indices show negotiation power for buyers in these areas- in the #1 city, buyers average the ability to negotiate 7% off of the home price.
If you practice in one of these areas, do you find home prices negotiated down frequently? What other factors would you look at for a list such as this?
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This article published on Wednesday, February 17th, 2010 at 12:01 am | Contact the editor
Topics: News
About this Columnist (Full Profile)
AGBeat Editor-in-Chief: Lani, named one of Real Estate’s 100 Most Influential, as well as 12 Most Influential Women in Real Estate, is a business writer hailing from the great state of Texas in the city of Austin. As a digital native, Lani is immersed not only in advanced technologies and new media, but is also a stats nerd often burried in piles of reports. Lani is a proven leader, thoughtful speaker, and vested partner at AGBeat.
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- Weekly summary of real estate news, Memphis comments, and other interesting stuff – February 18th - Memphis Real Estate Buzz:
[...] Shared Top 10 Cities for a Real Estate Bargain. [...]
- mariapettis:
No. 3 For Real Estate Bargains! Charleston! http://agentgenius.com/real-estate-news-events/top-10-cities-for-a-real-estate-bargain/
- AgentGenius:
#agnow Glad to see that Charleston has made this list…or am I? Well one thing's for sure- real estate sure is pi… http://bit.ly/aEuH9R
- AgentGenius:
#agnow What about Sarasota, FL? Fortune Mag consistently ranks that area quite high. http://bit.ly/aEuH9R
- Maxine Phillips:
@agentgenius Top 10 Cities for a Real Estate Bargain http://bit.ly/deAPwW Naples is #1
- Forbes’ Top Ten Best Housing Markets Across America:
[...] enough, this top 10 doesn’t have any cities in common with Zillow’s Top 10 Cities for a Bargain list also released this month (which names Naples as the top [...]
- AgentGenius:
#agnow [...] enough, this top 10 doesn’t have any cities in common with Zillow’s Top 10 Cities for a Ba… http://bit.ly/aEuH9R
- MassachusettsRealtor:
@agentgenius Top 10 Cities for a Real Estate Bargain http://bit.ly/deAPwW
- Debra A. Jason:
Zillow's Top 10 Cities for a Real Estate Bargain http://ow.ly/1bnRw
- Top 10 Most Read Agent Genius Articles – Week of February 26:
[...] Top 10 Cities for a Real Estate Bargain by Lani Rosales [...]
- AgentGenius:
#agnow [...] Top 10 Cities for a Real Estate Bargain by Lani Rosales [...] http://bit.ly/aEuH9R
- Norbert Nissel:
RT @Pinula22: Want a great bargain check this out: @agentgenius Top 10 Cities for a Real Estate Bargain http://bit.ly/deAPwW
- AgentGenius:
#agnow Hey-
I'm a Cape Cod Realtor. That 5% difference has been pretty standard for years. I'm intrigued by the fa… http://bit.ly/aEuH9R - still the "hot" area to move - Charleston area - South Carolina (SC) -Charleston - North Charleston - Mt. Pleasant - Summerville - Goose Creek - Page 2 - City-Data Forum:
[...] [...]
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
“Each of these cities is quite different than the other…”
Except for #9 and #14…
The seem awfully similar to me…
Corrected, thanks, Benjamin.
is there a “Carleston” in South Carolina? Or is it Charleston? Might sound like I’m being sarcastic but you never know about town names here in the South!
If you missed it – our area is where one of the two new Nuclear Power Plants will be built near Waynesboro, Georgia. I expect Augusta may end up on the hottest markets list within the year.
Navy Chief, Navy Pride
I wish they would have been a bit more specific. Saying 7% off list price is very one dimensional in this business. Is that original list price or perhaps they had price reductions?
Also, were seller’s concessions, if any, factored in?
Glad to see that Charleston has made this list…or am I? Well one thing’s for sure- real estate sure is picking up down here.
What about Sarasota, FL? Fortune Mag consistently ranks that area quite high.
How can Cleveland be both Zillow’s #7 best city and Forbes’ #1 most miserable city in the US? So you feel good about your real estate purchase for several seconds and then you get all miserable after? Awe, poor Cleveland.
Hey-
I’m a Cape Cod Realtor. That 5% difference has been pretty standard for years. I’m intrigued by the fact that this is a notable stat. Of particular interest to me is the fact that even during the recession and through the ups and downs of the past few years, 4%-6% has been the magic number.
It begs new questions: what are the national stats, is this a phenomenon unique to resort/retirement areas, etc.
Thoughts?