This is always an interesting time of year in real estate for me. Many people tell me they are so done with the heat in the (farther) east bay as well as the general crowds and traffic in California. They tell me how they long for a “simpler life,” one where they are not living paycheck to paycheck for their mortgage payment.
They want a bigger house, more land, and smaller class sizes for their kids, in short they want it all!
During 2014 in the cities of Antioch, Brentwood, Discovery Bay, Oakley and Pittsburg the average price a home sold for was $384,746 after being on the market for an average length of 32 days.
So let’s say you’re “average” although I for one know you are not…..what could your $385,000 get you in some of the top ten cities CNN says people are moving to in the United States this year.
The top 10 includes:
- Atlanta, GA
- Tampa, FL
- Dallas, TX
- Orlando, FL
- Phoenix, AZ
- Houston, TX
- Seattle, WA
- Chicago, IL
- Denver, CO
- Las Vegas, NV
After seeing these I am sure you have decided that there really is no such thing as “having it all.” I always tell my clients when looking for a house to “look for the positives.” If a house has more positives than negatives then that house is a definite contender.
Remember, the grass is only greener on the other side because it has been fertilized with manure and we all know what manure is, right?
Here are a closure look at a few of the cities in the top 10:
#10: Las Vegas, Nevada:
Median income: $63,100
The house on the left represents the median home price of $175,000. 3 bed/2 bath, 1400 square feet, 5000 square foot lot. The house on the right represents what the average price of a home here would buy you there. 4 bed/3 bath, 3065 square feet, 4800 sf lot.
Home price growth forecast : 5.4%
Gaming, tourism and conventions dominate Vegas’ economy — and, for better or for worse, so does real estate. Home to many hospitality workers, entertainers and retirees, the city was the poster child of the foreclosure crisis and is just now making a comeback
#9: Denver, Colorado
The house on the right represents an average home in Denver. 3 beds/2 baths, 2279 square feet, on a 6100 square foot lot for $263,000. The house on the left is what the average price of a home here will buy you there. This house is 4473 square feet, on a 6534 sf lot.
- Median income: $77,800
- Median home price: $263,000
- Home price growth forecast : 2.7%
Outdoorsy Denver consistently ranks as one of the healthiest and most active places in the nation. With the Rocky Mountains at its doorstep, skiers, hikers and mountain bikers all flock to the “Mile High City.” The economy is strong with unemployment falling to 5.8% in November, well under the national rate.
#7: Seattle, Washington
Well here is an interesting little story… in my research for this story I found that NOT ONE single house was for sale in the median price range that was reported by CNN. I did find that there were 6,839 homes sold to date in 2014 and the median price was $525,000. I also did not find one property currently listed for our average price of $385,000.
So if you do not want to live paycheck to paycheck to pay for that mortgage perhaps you should rethink Seattle and look at Spokane instead.
- Median income: $86,700
- Median home price: $343,000
- Home price growth forecast : 5.2%
It may have plenty of gray, rainy days, but Seattle also has some great coffee, a thriving music and arts scene and, most importantly, jobs. Home to Microsoft, Amazon.com and Boeing, among many other companies, Seattle has become an economic powerhouse, attracting tech workers, outdoors types and those seeking world-class access to arts and entertainment.
#6: Houston, Texas
The home on the left is typical of the median priced home in Houston, it is 4 bed/2 bath 2207 square foot sitting on a 6700 square foot lot. The home on the right is what the price of a typically priced home here ($385k) would buy you. This one is a 5 bed/3.5 bath, 3431 square foot home on a 9500 square foot lot with a beautiful pool!
- Median income: $66,200
- Median home price: $190,000
- Home price growth forecast : 3.9%
The oil and gas industry has kept Houston’s economy humming, with unemployment at a comparatively low 5.6% in November. It’s about to get another boost with the opening of a massive new ExxonMobil facility next year that’s expected to employ 10,000 workers.
#5: Phoenix, Arizona:
The house on the left is typical of what $187,000 will buy you in Phoenix. This is a 3 bed/2 bath 1708 sf home sitting on a 8096 sf lot. The house on the right is what the average home price of a home here will buy you. This house is 4 bed/2bath, 2387 sf, on a 8165 sf lot.
- Median income: $62,200
- Median home price: $187,000
- Home price growth forecast : 4.3%
Phoenix was one of the hardest hit cities in the nation when the housing bubble burst. But now it’s turning around and sun-seeking home buyers are scooping up homes at bargain basement prices. Among the top employers in the area are Wal-Mart, Intel and several major banks, including Wells Fargo, JPMorgan Chase and Bank of America.
The number one choice of people who are migrating throughout the country is Atlanta Georgia! The house on the left shows you what the median price will buy you, this house is 5 bed/3.5 bath and unfortunately there is no other information available on it. The house on the right is what $375,000 will buy you. That is a “historical” house, 4 bed/2.5 bath and no other information is available.
- Median income: $66,300
- Median home price: $166,000
- Home price growth forecast : 5.3%
Even though it was hit hard by the recession, Atlanta has claimed the top spot on Penske’s list for four years running. Home to Coca-Cola, Home Depot and roughly a dozen other Fortune 500 companies, the city offers a range of job opportunities.