home prices http://www.wisebread.com/taxonomy/term/9486/all en-US The 4 Most Overpriced U.S. Housing Markets http://www.wisebread.com/the-4-most-overpriced-us-housing-markets <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-4-most-overpriced-us-housing-markets" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000007148318_Large.jpg" alt="housing market" title="housing market" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>A great deal has changed since the housing bust of last decade. No longer are many markets in the Southwest hugely underpriced due to high foreclosure rates. Instead, most of the country has since normalized &mdash; and in some big-city markets, home prices are back at pre-recession peaks. While the average American home is still <a href="http://www.marketwatch.com/story/10-most-overvalued-and-undervalued-housing-markets-2014-10-01">undervalued by approximately 3%</a>, homes in some of the biggest metropolitan areas are actually overvalued by up to 19%. (See also: <a href="http://www.wisebread.com/you-shouldn-t-buy-a-home-if?ref=seealso">You Shouldn't Buy a Home If&hellip;</a>)</p> <p>If you're considering purchasing a home in the coming months, it behooves you to know which markets are overpriced. Here's a look at the four most overpriced U.S. housing markets.</p> <h2>Denver, Colorado</h2> <p>While Denver's home market is only overpriced by about 7%, it's <a href="http://www.denverpost.com/business/ci_26289384/price-hikes-slowing-but-denver-housings-verge-unaffordable">nearing unaffordable</a> for many of the city's residents. In May, housing in Denver cost, on average, 33.64% of income. In a balanced market, that number is closer to 30%. This means that residents are spending more money on housing, so they are spending less on other things, like food and entertainment. Denver isn't yet <em>unaffordable</em>, but you may find it hard to purchase a home there unless your income is well above average for the area.</p> <h2>Honolulu, Hawaii</h2> <p>While Honolulu no longer&nbsp;<a href="http://www.valuewalk.com/2014/02/honolulu-ties-new-york-as-most-overpriced-us-city/">ties with New York</a> as the most overpriced city in America when it comes to housing, homes there are still overvalued by about 10%. Hawaii is known for its high cost of housing, caused in part by the fact that there is a limited amount of land available for construction. In addition, nearly all building and repair materials must be imported, which makes it more expensive to build and maintain homes. If you're buying a home in Honolulu, keep in mind that you're likely to pay inflated local prices.</p> <h2>California</h2> <p>While it's an oversimplification to say that all homes in California are overvalued, most of the large metropolitan areas have significantly overpriced housing. Los Angeles and Orange County tie at the top of the list, with houses overvalued at 15%. San Francisco is next, at 12%, followed by Riverside-San Bernardino at 11%, San Jose at 10%, and Oakland at 7%. California has long been known for its high cost of living, and it doesn't look like that will change anytime soon.</p> <h2>Texas</h2> <p>Texas is a state with some significant disparity when it comes to home value. Homes in at least a couple of metropolitan areas, though, are overvalued. In fact, Austin topped Trulia's most recent list, with houses there overpriced by 19%. Houston also made the top 10, though homes there are only overvalued by 8%. These two cities are growing quickly &mdash; some may even say that they are experiencing something of a renaissance. Growth like that almost always causes home prices to go up, but when it happens this fast (especially in Austin), there may come a time when <a href="http://finance.yahoo.com/blogs/top-best-most/overpriced-housing-markets%E2%80%94headed-for-a-bubble-165358921.html">the bubble has to burst</a>.</p> <h2>Does It Matter?</h2> <p>Whether your local housing market is overvalued may matter more to certain types of buyers. If you're planning to live in a home for a long time, for example, you may be willing to pay a bit more. Or, if it's cheaper to buy a house than to rent one, then whether your housing market is overpriced will be less of a concern.</p> <p>If, on the other hand, you're getting into real estate as an investment (or you hope to resell within a few years), you'll care a lot more about what's happening in your housing market.</p> <p>In general, however, if you're ready to buy a home and can comfortably afford to do so, then go ahead &mdash; interest rates are low and it may yet be possible to score a great deal.</p> <p><em>Are you looking to buy a home in one of the overpriced markets? How do you think about your home's value as you consider the future?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="http://www.wisebread.com/the-4-most-overpriced-us-housing-markets">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-8-worst-home-sale-horror-stories">The 8 Worst Home Sale Horror Stories</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-times-its-actually-okay-to-be-underwater-on-your-home">6 Times It&#039;s Actually Okay to Be Underwater on Your Home</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/growin-home-how-much-house-do-you-really-need">Growin&#039; Home: How Much House Do You Really Need?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-appraisal-facts-that-could-save-you-big-money">5 Appraisal Facts That Could Save You Big Money</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/why-the-affordable-home-really-isnt">Why the Affordable Home Really Isn&#039;t</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing home buying home ownership home prices housing market rental prices Tue, 13 Jan 2015 18:00:07 +0000 Sarah Winfrey 1277861 at http://www.wisebread.com 12 Things That Will Be Less Expensive in 2012 http://www.wisebread.com/12-things-that-will-be-less-expensive-in-2012 <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/12-things-that-will-be-less-expensive-in-2012" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/6634503467_46497362ea_z.jpg" alt="2012" title="2012" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>Does the sagging economy, national debt, and our previous list of the <a href="http://dealnews.com/features/11-Things-That-Will-Be-More-Expensive-in-2012/534358.html?eref=wisebread" title="11 things more expensive in 2012">11 things that will be more expensive in 2012</a> have ya feeling down? Well, here's something to look forward to &mdash; to help counteract some of that 2012 gloom, we've gathered 12 items we predict will cost <em>less</em> in the coming year. From TVs to laptops, cash-strapped shoppers should keep an eye on prices for these items; even wine might see notable discounts next year! So cheer up and read on for the good consumer news. (See also: <a href="http://www.wisebread.com/deep-discounts-on-schedule-the-best-days-to-shop" title="Deep Discounts on Schedule: The Best Days to Shop">Deep Discounts on Schedule: The Best Days to Shop</a>)</p> <h3>1. Apple iPad 2</h3> <p>The iPad 3 will not feature a significant price drop (if any at all), but one thing is guaranteed &mdash; Cupertino's forthcoming tablet will most certainly bring down the price of <a href="http://dealnews.com/c568/Computers/iPad-Tablet/iPad?eref=wisebread" title="iPad 2 deals">refurbished iPad 2s</a>. (As the iPad 2 did for its predecessor.) The iPad 3 may even cause resellers to offer more deals on <em>new</em> iPad 2 models as they try to move yesterday's tech to make room for Apple's latest and greatest.</p> <h3>2. Wine</h3> <p>Oenophiles, perk up! Wine connoisseur extraordinaire, Robert Parker, predicts the coming year to be the &quot;<a href="http://www.reuters.com/article/2011/12/20/uk-usa-wine-prices-idUSLNE7BJ01W20111220" title="falling wine prices">Age of the Buyer</a>&quot; &mdash; a prolonged period of time with stable or declining wine prices. With less disposable income, folks have left wines priced at $30 and above untouched on store shelves. So to move stock, retailers are expected to offer more <a href="http://dealnews.com/c216/Home-Garden/Food-Drink/Wines?eref=wisebread" title="wine deals">sales and even flash deals on wines</a>. Price is also affected by industry competition, as consumers note the quality-to-price ratio from wines originating in countries like Australia, Argentina, South Africa, and Chile. Aficionados should check out sites like <a href="http://www.lot18.com/" title="Lot 18">Lot 18</a> for their boozy offerings.</p> <h3>3. Desktop Replacement Laptops</h3> <p>Intel's Sandy Bridge CPUs may be dominating the laptop landscape, but it's AMD's recession-friendly Fusion APUs that are driving prices down, particularly in the realm of desktop replacements. The star of the show is AMD's A Series APU, which promises better battery life, better video playback, and more affordable prices among <a href="http://dealnews.com/c49/Computers/Laptops?eref=wisebread" title="laptop deals">desktop replacements</a>. Just last week we <a href="http://dealnews.com/Toshiba-Satellite-AMD-Dual-Core-1.9-GHz-17-LED-Laptop-for-350-free-shipping/530268.html?eref=wisebread" title="expired $350 deal">saw systems</a> plummet to $350, an unprecedented price low for any desktop replacement.</p> <h3>4. Android Tablets</h3> <p>The Kindle Fire has been Amazon's most <a href="http://phx.corporate-ir.net/phoenix.zhtml?c=176060&amp;p=irol-newsArticle&amp;ID=1640193&amp;highlight=" title="Kindle purchase rate">successful product ever launched</a>. The release of this groundbreaking tablet has, a-hem, <a href="http://www.msnbc.msn.com/id/44712651/ns/technology_and_science-tech_and_gadgets/t/kindle-fire-may-force-android-tablet-makers-cut-prices" title="Kindle Fire may force cut prices">ignited a fire</a> among tablet manufacturers as they scramble to match Amazon's $199 price tag. For consumers, the competition translates to better <a href="http://dealnews.com/c594/Computers/iPad-Tablet/Tablets?eref=wisebread" title="tablet deals">tablet bargains</a> in 2012.</p> <h3>5. Solid State Drives (SSDs)</h3> <p>The floods that hit Thailand in 2011 created a shortage of hard drives and a subsequent spike in prices. <a href="http://dealnews.com/c625/Computers/Storage/SSDs?eref=wisebread" title="SSD deals">Solid state drives</a>, however, were not affected by the flooding and while their cost per gigabyte is still higher than that of a traditional hard drive, <a href="http://news.cnet.com/8301-13924_3-57334159-64/micron-thailand-causing-demand-pick-up-for-ssds/" title=" greater demand for SSD drives">their demand</a> is now greater. In addition, dealnews data shows that <a href="http://dealnews.com/features/dealnews-Price-Trends-Is-Now-the-Right-Time-to-Invest-in-an-SSD-/495276.html?eref=wisebread" title="SSD price trend">SSD prices are steadily dropping</a>; in 2011 the price of a 64GB SSD drive dropped 33% while the price of a 128GB drive dropped 21% &mdash; a trend that we expect will continue in 2012 as more SSDs permeate the market in place of 2.5&quot; hard drives.</p> <h3>6. Car Rentals</h3> <p><a href="http://dealnews.com/features/11-Things-That-Will-Be-More-Expensive-in-2012/534358.html?eref=wisebread" title="things more expensive in 2012">Gas and airfare</a> may be going up in 2012, but car rental rates are expected to remain flat, as agencies across the country reportedly have excess cars available. More stock and subsequent competition is thus expected to keep rental rates low throughout the new year, and we anticipate to see an increase in the number of discounts on <a href="http://dealnews.com/c209/Travel-Entertainment/Car-Rentals?eref=wisebread" title="car rental deals">car and SUV rentals</a>.</p> <h3>7. eBook Readers</h3> <p>Each new generation of Amazon's Kindle reader has <a href="http://dealnews.com/features/The-Most-Discounted-eBook-Reader-Amazon-Kindle-vs-Barnes-Noble-NOOK/516814.html?eref=wisebread" title="discounted ebook readers">chipped away</a> at the eBook reader's price tag, sometimes by as much as 61%. Assuming there's a new Kindle in 2012 (rumor has it that an <a href="http://www.engadget.com/2011/05/03/e-ink-dashes-hopes-of-a-next-gen-display-in-2011-but-pencils-in/" title="e-Ink update">e-Ink update with video support</a> will debut), we expect to see continued price cuts on Amazon's popular eBook reader, sending <a href="http://dealnews.com/c551/Electronics/Ebook-Readers?eref=wisebread" title="ebook reader deals&gt;previous Kindle models&lt;/a&gt; into all-time low price territory.&lt;/p&gt;<br /> &lt;h3&gt;8. Apple MacBook Air Refurbs&lt;/h3&gt;<br /> &lt;p&gt;In 2011 the price of a refurbished 4th generation 11&quot; &lt;a href=" http:="" dealnews.com="" c514="" computers="" apple-computers="">MacBook Air</a> dropped from $849 to $699 (17%). Not bad for a notebook that's single-handedly changing the laptop industry. Apple is bound to refresh its <a href="http://store.apple.com/us" title="Apple store">MacBook Air</a> in 2012, and the new model (which would be the 6th generation) is guaranteed to drive refurb prices down even lower. Don't care for a refurb unit? In 2011 we also saw aggressive deals on new, current 5th generation MacBook Airs with prices dropping from $999 to $850 (14%).</p> <h3>9. Standalone GPS Units With Lifetime Maps</h3> <p>The smarter our phones get, the greater the number of gadgets they're capable of <a href="http://dealnews.com/features/The-One-Gadget-To-Rule-Them-All-5-Devices-that-Smartphones-Have-Replaced/476412.html?eref=wisebread" title="gadgets that smartphones replace">replacing</a>. And no gadget is as close to extinction as the GPS unit. So it comes as no surprise to see manufacturers slash prices on <a href="http://dealnews.com/c357/Home-Garden/Automotive/Automotive-GPSs?eref=wisebread" title="GPS deals">standalone GPS units</a> with lifetime / live maps. dealnews data shows that in 2011, units that were once fetching around $160 reached price-lows of just $70.</p> <h3>10. Media Streamers</h3> <p>We love <a href="http://dealnews.com/b1466/Roku?eref=wisebread" title="Roku deals">Roku</a>, but when Blu-ray players with built-in streaming start to cost less than the price of a Roku box, it's time for the latter to get aggressive. In order to remain relevant in 2012, media streamers (such as the Roku player and Boxee Box) must out-price Blu-ray players. We anticipate seeing more deals and lower prices on these electronics.</p> <h3>11. 3D HDTVs</h3> <p><a href="http://dealnews.com/c159/Electronics/TVs?eref=wisebread" title="TV deals">3D HDTVs</a> are a tough sell. Not only are they pricier than traditional CCFL-based LCDs and standalone LED-based sets, but they also require a bigger investment as you'll have to purchase 3D glasses, a 3D Blu-ray player, and 3D Blu-ray discs to get the most from your 3D TV. In 2011, we saw prices for 55&quot; 3D televisions drop 33% from $1,499 in January to $999 in December. The new year will bring an influx of new 3D TVs, which means vendors will try to combat <a href="http://www.wired.com/gadgetlab/2011/07/3dtv-sales-hollywood/" title="3D HDTV sales">lagging sales</a> with discounts on 2011 3D HDTV models.</p> <h3>12. Home Prices</h3> <p>Despite record-low mortgage interest rates, United States home prices are expected to limp their way into the coming year. In 2011, average <a href="http://www.bloomberg.com/news/2011-12-27/home-prices-in-u-s-cities-decline-more-than-forecast-case-shiller-says.html" title="falling home prices">home prices across the country</a> were down 3.4% (compared to the same period of August to October, 2010). And with unemployment expected to remain high, 2012 is looking like it will remain a buyer's market.</p> <p>Excited for these less-expensive items next year? Start preparing by setting up a dealnews <a href="https://dealnews.com/mydealnews/alerts.html?eref=wisebread" title="dealnews email alert">email alert</a> now, so you'll receive a message as soon as we see a discount on the category or specific product of your choice. While we can't help you find a better price on a home, we can certainly point you toward cheaper electronics and other online goods.</p> <p><em>This is a guest post by </em><a href="http://dealnews.com/" title="dealnews"><em>Dealnews</em></a><em>.</em></p> <div class="field field-type-text field-field-blog-teaser"> <div class="field-items"> <div class="field-item odd"> From electronics to wine to even rental cars, savings-minded shoppers should keep an eye on prices for these items in 2012. </div> </div> </div> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dealnews">Dealnews</a> of <a href="http://www.wisebread.com/12-things-that-will-be-less-expensive-in-2012">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-power-banks">The 5 Best Power Banks</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-warranties-that-arent-worth-it">4 Warranties That Aren&#039;t Worth It</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-home-buys-you-should-never-skimp-on">8 Home Buys You Should Never Skimp On</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-best-and-worst-things-to-buy-in-january">The Best and Worst Things to Buy in January</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-home-theater-projectors">The 5 Best Home Theater Projectors</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Shopping car rental dealnews electronics home prices wine Mon, 16 Jan 2012 10:48:17 +0000 Dealnews 863117 at http://www.wisebread.com Will house prices keep dropping? http://www.wisebread.com/will-house-prices-keep-dropping <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/will-house-prices-keep-dropping" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/foreclosure-sign.jpg" alt="Foreclosure sign in front of a house" title="Sign Of The Times - Foreclosure" class="imagecache imagecache-250w" width="250" height="188" /></a> </div> </div> </div> <p>I don&#39;t think much of the &quot;buy low, sell high&quot; model for house purchases.  I think a house should be purchased as a place to live, in which case the main questions are whether you want to live there and whether you can afford it, not whether prices have hit bottom.  Still, it&#39;s a question of interest to a lot of people, so I&#39;ve been meaning to write an article on the topic.  Happily, Vladimir Klyuev, an economist with the International Monetary Fund, has written it, so I don&#39;t have to.</p> <p>There are a lot of ways to look at what the &quot;right&quot; level is for house prices.  In the IMF Working Paper <a href="http://www.imf.org/external/pubs/ft/wp/2008/wp08187.pdf">What Goes Up Must Come Down? House Price Dynamics in the United States</a>, Klyuev looks at two of them:  the supply and demand fundamentals, and an asset-market perspective.</p> <p>It&#39;s worth reading the paper, but I think you can get most of the story from just this one graph:</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u203/real-home-price-vs-rent.png" alt="Graph of real house prices versus real rent" title="House Prices vs Rent" width="500" height="333" /></p> <p>The red line is the real (i.e. inflation-adjusted) cost of rent.  The blue line is the real home price.  If we can expect the costs of houses and of rent to return to roughly the same relationship that they had between 1970 and 2000--and I think we can--then it looks to me like house prices still have a long way to fall.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/philip-brewer">Philip Brewer</a> of <a href="http://www.wisebread.com/will-house-prices-keep-dropping">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/do-you-live-in-one-of-americas-most-foreclosure-ridden-towns">Do You Live In One Of America’s Most Foreclosure-Ridden Towns?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-cost-of-a-free-ride-why-not-to-use-a-buyers-agent-submitted-by-ken-rick">The cost of a free ride - why not to use a buyer&#039;s agent</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/quiz-am-i-really-ready-to-buy-a-home">Quiz: Am I Really Ready to Buy a Home?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/real-estate-investing-is-cheaper-and-easier-than-you-think">Real Estate Investing Is Cheaper and Easier Than You Think</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-choose-a-real-estate-agent">How to Choose a Real Estate Agent</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Investment Real Estate and Housing buying a house home prices home purchase house prices imf Tue, 29 Jul 2008 11:53:01 +0000 Philip Brewer 2274 at http://www.wisebread.com