| There is no doubt that house prices are | | | | - Washington, D.C.-Arlington-Alexandria |
| falling and that certain areas of the U.S. | | | | |
| have become "risky" markets. Home prices have | | | | - Boston-Quincy, Mass. |
| dropped more in the first quarter of this | | | | |
| year than at any other quarter in the last 17 | | | | The risk factor of these cities is calculated |
| years. PMI Mortgage Insurance says home | | | | using a formula that incorporates data on |
| values may well decline across the country | | | | house sales, affordability which includes per |
| over the following two years. | | | | capita income, appreciation and mortgage |
| | | | rates and employment rates in each particular |
| Here's a peak into the "risky" market areas | | | | area. On a positive note, these areas where |
| and the stable markets, as well as some | | | | the housing market are risky still have |
| valuable tips on selling your home in this | | | | strong employment rates which bodes well for |
| post-bubble climate. | | | | them being able to ride this difficult tide. |
| | | | |
| The riskiest markets identified are those | | | | Texas and the Midwest were markets that |
| that experienced a rapid price appreciation | | | | remained largely untouched by the real estate |
| in the previous years and were part of that | | | | boom, and are therefore largely untouched by |
| real-estate bubble, which many were able to | | | | the current decline in real estate. These |
| turn into the quick real estate buck by | | | | areas include: |
| flipping houses. But with the sudden crash, | | | | |
| they are experiences the hardest hit, with | | | | - Fort Worth-Arlington, Texas |
| the most foreclosures: | | | | |
| | | | - Pittsburgh |
| - Phoenix-Mesa-Scottsdale, Ariz. | | | | |
| | | | - Dallas-Plano-Irvington, Texas |
| - Riverside-San Bernardino-Ontario, Calif. | | | | |
| | | | - Houston-Sugar Land-Baytown, Texas |
| - Las Vegas-Paradise, Nev. | | | | |
| | | | - Indianapolis-Carmel, Ind. |
| - West Palm Beach-Boca Raton-Boynton | | | | |
| Beach, Fla. | | | | - Columbus, Ohio |
| | | | |
| - Los Angeles-Long Beach-Glendale, Calif. | | | | As a seller today it's very important to use |
| | | | the internet as an effective marketing tool. |
| - Santa Ana-Anaheim-Irvine, Calif. | | | | Prospective buyers are definitely using the |
| | | | Internet now more than ever. Before stepping |
| - Orlando-Kissimmee, Fla. | | | | out to an open house, buyers are more |
| | | | inclined to narrow down their home search |
| - Oakland-Fremont-Hayward, Calif. | | | | using internet searches where they can see |
| | | | (ideally) clear, bright, professional photos |
| - Fort Lauderdale-Pompano Beach-Deerfield | | | | of your home, complete with virtual tours. |
| Beach, Fla. | | | | Being on the cutting edge of internet |
| | | | technology and having your home visually well |
| - San Diego-Carlsbad-San Marcos, Calif. | | | | represented is of ultimate importance. Find |
| | | | an agent who is savvy and willing to create a |
| - Miami-Miami Beach-Kendall, Fla. | | | | Web site for each house they represent. If |
| | | | you can't find an agent who'll do this, |
| - Tampa-St. Petersburg-Clearwater, Fla. | | | | remember you can set up a web page yourself. |
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