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