Ten best cities for rising home values

Business 2.0 magazine ranks the top 10 cities for buying property now.
Experts say that while these locales may not be immune to the current
housing malaise, eventually property values in these places, for a
variety of reasons, are likely to zoom.

Here’s the list, along with the projected gain in home prices:

1. Panama City (FL): 72 percent projected gain in home prices over
five years. A new airport that will be built next year will open the
area to vacationers and residents.

2. Vero Beach (FL): 64 percent. Demand for housing along with moderate
property taxes and beautiful weather will drive growth.

3. Bridgeport (CT): 63 percent. Proximity and the staggering home
prices in other parts of Fairfield County are making this hardscrabble
area appealing to New York City commuters.

4. Lakeland (FL): 59 percent. This growing area is only 30 minutes
from Tampa via Interstate 4, but prices are 80 percent lower.

5. McAllen (TX): 57 percent. A Hispanic baby boom and rising incomes
are driving demand for bigger homes.

6. San Luis Obispo (CA): 40 percent. Compared to southern California,
the prices here are low and the developing wine industry adds to the
appeal.

7. Wilmington (NC): 37 percent. With great golf, mild weather and its
proximity to water, this area is a great retirement community.

8. Manchester (NH): 35 percent. This city was the winner of Money
Magazine’s best place to live in America. It’s within commuting
distance of Boston, but home prices are a fraction and there’s no
income or sales tax.

9. Fort Collins (CO): 28 percent. This winner of many best lists has
great schools, low crime and good jobs - plus 40 parks within the city
limits.

10. Atlanta (GA): 24 percent. Commuting is a bear here and many
newcomers to the area are driving up prices in close-in suburbs as the
area’s overall economic fortunes continue to rise.

This entry was posted on Tuesday, March 13th, 2007 at 12:33 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.