Bargain Market #10: Washington, D.C.
is prime for bargain-seeking homebuyers. The area has one of the lowest unemployment rates in the country and boasts bustling nightlife and culture. With home prices down 12.15 percent over the past year, this may be the time to buy in the nation's capital.
Bargain Market #9: Detroit, MI
Home prices have fallen 16.42 percent over the past year in this Midwestern metropolis, as job losses fueled a flood of foreclosures on the market. But Detroit is committed to restoration and revitalization, as evidenced by its mix of historic districts and new developments.
Bargain Market #8: San Diego, CA
With year-round sun, sand and surf, who wouldn't want to live in Southern California's gem, San Diego? Home prices are down 18.03 percent over the past year, so you could find a great deal in this once super-hot market. Plus, it doesn't hurt to be a couple hours' drive from Los Angeles, in case you want to bargain hunt there as well.
Bargain Market #7: Phoenix, AZ
The Valley of the Sun is teeming with potential bargains, with home prices down 18.85percent year-over-year. The Phoenix market was a hotbed of speculative overbuying during the real estate boom, and these days, stretched-thin investors may be willing to negotiate. Homebuyers who can appreciate this rugged Southwest region will find many diverse neighborhoods to choose from. bargin Homes are flying off the market right now..
Bargain Market #6: Napa, CA
Like many vacation destinations, Napa in Northern California saw a surge in speculative buying that inflated real estate prices during the boom. Today, buyers can find homes in beautiful wine country selling for 20.11 percent less than last year. If you're a luxury homebuyer, you may find multi-million-dollar properties offered at steep discounts.
Bargain Market #5: Miami, FL
The heat is on in Miami. Home prices have come down 24.15 percent over the past year, meaning you won't have to shell out as much to enjoy tropical weather, beautiful beaches and hot nightlife year-round.
Bargain Market #4: Ft. Lauderdale, FL
Shedding its "spring break" reputation, Ft. Lauderdale has redefined itself as a pedestrian-friendly, 24-hour community offering a mix of traditional Old Florida neighborhoods with trendy shopping and nightlife. Prices have fallen 25.95 percent since last year, so if a laid-back yet lively lifestyle is what you crave, start here.
Bargain Market #3: Las Vegas, NV
Gamblers weren't the only ones taking risks in Sin City. Eager developers and investors flocked to Las Vegas looking to cash in big on the real estate boom. The hype is over, and prices have plunged 32.60 percent since last year. The city is consistently among RealtyTrac's list of top foreclosure markets, making this area prime for bargain hunters who want to spice up their lifestyle.
Bargain Market #2: Naples, FL
Florida is going Strong with 3 Ciies on the list. Known for its vibrant art scene and the natural scenery of the nearby Everglades, Naples was another vacation destination that was overrun with real estate investors during the boom years. Prices plummeted 32.87 percent over the past year, offering new opportunities for buyers looking to live the beach-town lifestyle.
Bargain Market #1: Stockton, CA
The inland California cities -- Stockton, Merced, Modesto, Vallejo, Riverside, Bakersfield, Madera and Fresno, to name a few -- have been the hardest hit since the real estate housing bubble burst. Home prices in Stockton plummeted a whopping 40.19 percent last year, dragged down by a barrage of foreclosures on the market.
But Stockton's proximity to both the San Francisco Bay Area and the Sacramento area gives it an advantage over other struggling markets. In the past, Bay Area folks sought affordable housing in Stockton (which changed when the market became inflated). Once prices stabilize, the city will have the potential to return to its "affordable" status.
If you are interested in investing in the Phoenix Real estate market I am committed to assisting real estate investors who would like to take advantage of the booming real estate market and investment opportunities in the Phoenix, Arizona area. Contact Linda Wieczorek
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