Most over valued and under valued housing markets

[Norm]

http://money.cnn.com/2006/03/13/real...ex.htm?cnn=yes


Most over and under valued housing markets ranked in order of most -> least

Naples FL $367,100 96.30%
Merced CA $287,000 86.20%
Salinas CA $611,200 83.80%
Stockton CA $339,800 79.50%
Madera CA $290,100 77.00%
Santa Barbara CA $638,000 76.70%
Port St. Lucie-Fort Pierce FL $233,900 75.00%
Riverside-San Bernardino CA $320,600 72.90%
Modesto CA $317,500 72.30%
Medford OR $268,400 69.70%
Bend OR $256,200 68.40%
Fresno CA $251,100 65.40%
Sacramento CA $373,700 63.80%
Napa CA $518,900 63.20%
Bakersfield CA $216,100 62.40%
Chico CA $264,400 62.10%
Los Angeles CA $477,800 61.20%
Miami FL $263,900 60.80%
Redding CA $259,300 60.30%
Oxnard-Ventura CA $539,600 60.10%
Atlantic City NJ $245,400 59.60%
West Palm Beach FL $274,300 59.00%
Sarasota FL $238,100 58.90%
Santa Rosa CA $525,100 58.80%
Vero Beach FL $208,800 58.70%
Vallejo CA $401,800 56.70%
Cape Coral-Fort Meyers FL $230,400 56.30%
San Luis Obispo CA $484,900 56.00%
Fort Lauderdale FL $250,200 54.30%
Visalia CA $209,300 53.90%
Prescott AZ $218,400 52.40%
Palm Bay-Melbourne FL $205,800 52.10%
Oakland CA $559,800 51.10%
Deltona-Daytona Beach FL $181,100 50.00%
Ocean City NJ $304,500 49.50%
San Jose CA $682,600 49.20%
Bellingham WA $274,200 48.60%
Panama City FL $171,400 47.70%
Santa Ana-Anaheim CA $584,500 47.10%
Santa Cruz CA $636,500 46.50%
San Diego CA $477,200 45.90%
Barnstable MA $352,800 45.80%
Nassau-Suffolk NY $425,200 44.60%
Fort Walton Beach FL $209,100 43.50%
St. George UT $225,400 42.90%
Poughkeepsie-Newburgh NY $288,500 42.80%
Phoenix AZ $233,500 41.90%
Kingston NY $216,900 40.60%
Reno NV $315,100 40.40%
San Francisco CA $768,500 39.90%
Las Vegas NV $273,200 39.00%
Ocala FL $131,700 38.80%
Washington DC-VA-MD-WV $391,200 38.60%
Eugene OR $207,900 38.60%
Portland OR-WA $258,600 38.30%
New Orleans* LA $140,400 36.60%
Grand Junction CO $173,200 36.00%
Orlando FL $198,200 35.90%
Tampa-St. Petersburg FL $170,000 35.70%
Honolulu HI $554,600 35.30%
Bethesda MD $423,100 35.10%
Providence-New Bedford RI-MA $275,300 34.80%
Flagstaff AZ $235,900 33.40%
Tucson AZ $188,200 32.90%
Pensacola FL $153,500 32.00%
Edison NJ $340,900 31.90%
Duluth MN-WI $121,800 30.70%
Virginia Beach-Norfolk VA-NC $212,700 30.60%
Charlottesville VA $241,200 30.40%
Jacksonville FL $170,800 30.30%
Baltimore MD $264,500 30.20%
Olympia WA $226,000 29.90%
Newark NJ-PA $375,900 29.60%
Wilmington NC $168,900 29.50%
Portland ME $217,300 29.00%
Lakeland FL $128,800 28.90%
Worcester MA $251,700 28.90%
Charleston SC $163,100 28.60%
New York-White Plains NY-NJ $452,000 28.60%
Tacoma WA $240,300 27.80%
Salem OR $181,400 27.40%
Asheville NC $150,200 27.40%
Longview WA $170,700 27.10%
Mount Vernon WA $244,900 27.00%
Gainesville FL $155,900 26.60%
Essex County MA $344,900 26.50%
Seattle WA $332,200 26.00%
Santa Fe NM $267,100 25.90%
Bremerton WA $249,500 24.70%
Minneapolis-St. Paul MN-WI $221,400 23.70%
Vineland NJ $157,700 23.70%
Casper WY $134,800 23.60%
Niles-Benton Harbor MI $130,800 23.40%
Anchorage AK $226,900 23.20%
Jackson MI $125,100 23.20%
Manchester-Nashua NH $238,900 23.00%
Monroe MI $160,500 22.80%
Burlington VT $213,600 22.20%
Brunswick GA $121,700 21.80%
Tallahassee FL $150,600 21.70%
Boise City ID $171,000 21.50%
Racine WI $161,400 20.70%
Savannah GA $139,800 20.60%
Bay City MI $103,300 20.50%
Rockingham-Strafford NH $251,200 20.40%
Chicago IL $242,000 20.10%
Detroit MI $117,700 19.80%
Flint MI $111,400 19.80%
York PA $162,700 19.50%
Springfield MA $208,400 19.40%
Camden NJ $223,500 19.40%
Norwich-New London CT $245,300 18.80%
Greeley CO $174,500 18.50%
Eau Claire WI $122,800 18.50%
Battle Creek MI $103,800 18.30%
Trenton NJ $269,400 18.20%
Corvallis OR $224,700 18.00%
Spokane WA $166,800 17.70%
Holland MI $157,700 17.60%
Wilmington DE-MD-NJ $224,900 17.60%
Farmington NM $120,400 17.50%
Philadelphia PA $217,100 17.20%
Madison WI $199,500 16.70%
Boston-Quincy MA $358,800 16.30%
Milwaukee WI $189,000 15.90%
Lansing MI $137,800 15.80%
Albany NY $181,300 15.70%
Richmond VA $179,300 15.40%
Allentown PA-NJ $195,000 15.10%
Boulder CO $294,800 14.90%
Harrisonburg VA $172,100 14.70%
Michigan City IN $119,800 14.70%
Wenatchee WA $188,000 14.40%
La Crosse WI-MN $128,300 13.60%
New Haven CT $255,800 13.30%
Ann Arbor MI $216,300 13.00%
Warren MI $192,900 12.20%
Lake-Kenosha IL-WI $253,100 12.10%
Rockford IL $121,500 12.10%
Pittsfield MA $189,100 11.90%
Saginaw MI $103,000 11.90%
Grand Rapids MI $134,600 11.60%
Lancaster PA $171,200 11.20%
Waterloo IA $105,600 11.10%
Roanoke VA $145,200 10.90%
Colorado Springs CO $195,400 10.80%
Janesville WI $126,300 10.80%
Fayetteville AR-MO $127,000 10.70%
Reading PA $158,200 10.50%
Denver CO $224,300 9.90%
Cambridge-Framingham MA $392,400 9.70%
Fort Collins CO $218,100 9.60%
Muskegon MI $102,800 9.30%
Dubuque IA $118,500 9.20%
St. Louis MO-IL $138,300 9.10%
Dalton GA $108,700 8.90%
Bridgeport CT $459,000 8.90%
Sheboygan WI $137,400 8.80%
Green Bay WI $143,400 8.80%
Lynchburg VA $133,300 8.70%
Gainesville GA $145,800 8.50%
Gary IN $130,000 8.50%
Peoria IL $108,700 8.40%
Kalamazoo MI $128,100 8.30%
Canton OH $119,400 8.20%
Davenport-Moline IA-IL $104,400 7.60%
Baton Rouge LA $112,700 7.60%
Yakima WA $132,700 7.50%
Mansfield OH $110,700 7.40%
Hickory NC $104,400 7.10%
Champaign IL $117,600 6.40%
Salt Lake City UT $204,300 6.30%
Hartford CT $234,100 6.20%
Springfield OH $108,700 6.20%
Idaho Falls ID $123,400 6.10%
Fond du Lac WI $128,600 5.80%
Toledo OH $116,700 5.70%
Chattanooga TN-GA $114,900 4.70%
Cheyenne WY $144,600 4.70%
Wausau WI $129,200 4.70%
Athens GA $139,600 4.70%
Billings MT $141,100 4.60%
Youngstown OH-PA $97,500 4.40%
Scranton PA $119,100 4.10%
Cleveland OH $144,100 3.90%
Albuquerque NM $165,800 3.80%
Kansas City MO-KS $135,700 3.80%
Las Cruces NM $110,200 3.40%
St. Joseph MO-KS $94,400 3.20%
Lafayette LA $112,700 3.20%
Lexington KY $136,900 3.10%
Harrisburg PA $146,000 2.90%
Sioux Falls SD $121,300 2.60%
Durham NC $161,400 2.50%
Anderson IN $96,800 2.50%
Akron OH $134,000 2.50%
Fargo ND-MN $127,900 2.40%
Knoxville TN $124,400 2.40%
Pueblo CO $116,500 2.30%
Appleton WI $136,400 2.20%
Provo UT $185,000 2.10%
Topeka KS $101,500 1.80%
Kennewick WA $140,700 1.50%
Lima OH $104,500 1.50%
Columbia MO $126,200 1.30%
Louisville KY-IN $125,800 1.20%
Columbus OH $149,100 1.10%
Decatur IL $83,100 0.90%
Utica NY $101,200 0.70%
Sandusky OH $130,600 0.50%
Rochester MN $146,200 0.40%
Houma LA $96,100 0.40%
Atlanta GA $174,800 -0.10%
Columbia SC $115,200 -0.10%
Nashville TN $155,300 -0.30%
Mobile AL $98,700 -0.40%
Bowling Green KY $107,700 -0.70%
Binghamton NY $100,000 -0.70%
Des Moines IA $128,800 -0.80%
Cincinnati OH-KY-IN $140,100 -0.80%
Ogden UT $164,900 -0.80%
Erie PA $98,800 -1.00%
Bloomington IN $115,100 -1.20%
Oshkosh WI $122,700 -1.20%
Albany GA $89,400 -1.20%
Omaha NE-IA $122,500 -1.50%
Winston-Salem NC $123,500 -1.70%
Kokomo IN $100,900 -1.70%
Spartanburg SC $100,700 -1.80%
Lawrence KS $154,000 -2.00%
Dayton OH $120,300 -2.00%
Alexandria LA $82,900 -2.00%
Cedar Rapids IA $114,200 -2.10%
Amarillo TX $88,100 -2.30%
Iowa City IA $147,600 -2.30%
Pittsburgh PA $109,800 -2.40%
Greenville SC $113,200 -2.50%
Waco TX $89,100 -2.70%
Birmingham AL $119,300 -2.70%
Bloomington-Normal IL $130,000 -2.70%
Florence SC $84,600 -2.80%
Raleigh-Cary NC $168,500 -2.90%
Syracuse NY $113,100 -2.90%
Burlington NC $107,600 -3.10%
Augusta GA-SC $105,900 -3.30%
Lincoln NE $126,700 -3.40%
Greensboro-High Point NC $119,400 -3.40%
South Bend IN-MI $107,100 -3.70%
Shreveport LA $95,700 -3.90%
Columbus GA-AL $108,700 -4.00%
Buffalo NY $113,900 -4.00%
Sherman TX $84,400 -4.00%
Springfield MO $112,200 -4.10%
Owensboro KY $90,200 -4.10%
Columbus IN $115,900 -4.20%
Monroe LA $88,200 -4.30%
Warner Robins GA $105,500 -4.40%
Hattiesburg MS $87,100 -4.70%
Evansville IN-KY $97,800 -4.70%
Oklahoma City OK $100,600 -5.10%
Rocky Mount NC $90,400 -5.10%
Bismarck ND $91,200 -5.10%
Charlotte NC-SC $145,000 -5.30%
Greenville NC $95,100 -5.50%
Indianapolis IN $137,300 -5.80%
Macon GA $100,200 -5.90%
Wichita KS $96,800 -6.30%
Jefferson City MO $108,200 -6.30%
Little Rock AR $103,700 -6.30%
Odessa TX $58,900 -6.60%
Corpus Christi TX $91,800 -6.70%
Fort Wayne IN $102,500 -7.40%
Springfield IL $102,000 -7.40%
Midland TX $90,500 -7.50%
San Angelo TX $81,100 -7.70%
Austin TX $149,100 -7.80%
Fort Smith AR-OK $78,700 -8.00%
Elkhart IN $115,900 -8.20%
Rochester NY $116,200 -8.80%
Tyler TX $100,900 -8.90%
Lubbock TX $81,500 -8.90%
Charleston WV $88,400 -9.00%
Tulsa OK $97,700 -9.10%
Lafayette IN $116,500 -9.60%
Decatur AL $91,500 -9.90%
Jackson MS $99,900 -10.00%
San Antonio TX $99,200 -10.00%
Longview TX $82,800 -11.40%
Huntsville AL $118,800 -11.90%
Killeen TX $98,100 -12.20%
Abilene TX $69,900 -12.40%
Beaumont TX $72,200 -12.70%
Memphis TN-MS-AR $105,800 -13.00%
Montgomery AL $103,000 -13.40%
Houston TX $107,900 -16.50%
Fort Worth TX $105,500 -17.30%
El Paso TX $88,900 -17.90%
Dallas TX $127,900 -18.50%
College Station-Bryan TX $94,400 -22.70%

No suprise the some of the worst places to live are the cheapest

[aloharover]

Originally Posted by Norm

[left]
Stockton CA $339,800 79.50%
Riverside-San Bernardino CA $320,600 72.90%
Bakersfield CA $216,100 62.40%

No suprise the some of the worst places to live are the cheapest

Thats funny. Looks to me like some of the worst places are at the top of the list

[Roxywheels]

Imagine that...Killeen is down there at the bottom

[TexasBlake]

There is no such thing is over or under valued.

[DemoMike]

"...what the authors estimate they should fetch..."

sounds objective

[pike2350]

sure there is.

overvalued: The amount the homeowner thinks it is worth over the average joe.

undervalued: The amount the average joe thinks it is worth in comparison to the homeowner.

[0ILBURNER]

Originally Posted by Roxywheels

Imagine that...Killeen is down there at the bottom

Memphis is even farther down the list...

& my bro lives in Montgomery, AL.

[shamb]

Sacramento 63% woot....

Only here could you be lucky to buy a 600 sq ft. 1 bed 1 bath for $200,000 +

Gotta love California.... ridiculous.

[TexasBlake]

Originally Posted by pike2350

sure there is.

overvalued: The amount the homeowner thinks it is worth over the average joe.

undervalued: The amount the average joe thinks it is worth in comparison to the homeowner.

Price is based on people's willingness to pay. People are willing to buy at the rediculously high prices, then they are not overvalued. People are willing to sell at low prices, they are not undervalued.

If they were not selling, it would be a different story.

[Get Bent]

Woo-hoo! I live in the next-to-last city! LMAO!

[shamb]

Price is based on people's willingness to pay. People are willing to buy at the rediculously high prices, then they are not overvalued. People are willing to sell at low prices, they are not undervalued.

If they were not selling, it would be a different story.

Obviously people want a home so they've got something to hold over your head, if you don't want a home whats your other option? pay someone elses mortage buy renting or get a crap shack apartment?

I understand your point but people dont have a choice.

[makeupqueEn]

That Riverside-San Bernardino rating is why I had to buy a house where it just snowed 3 feet ...

[mobil1syn]

id rather live on the hill then down here, wanna trade?

[TexasBlake]

Originally Posted by shamb

Obviously people want a home so they've got something to hold over your head, if you don't want a home whats your other option? pay someone elses mortage buy renting or get a crap shack apartment?

I understand your point but people dont have a choice.

What does that have to do with the fact that a so called area is "over" or "under" valued. If you're really that interested with why real estate is priced the way it is then read this

[shamb]

What does that have to do with the fact that a so called area is "over" or "under" valued. If you're really that interested with why real estate is priced the way it is then read this

Its simple supply and demand. But you made the comment that the only reason somethings "over/under" valued is because people are paying those prices...........well... do they have a choice?

[makeupqueEn]

Originally Posted by mobil1syn

id rather live on the hill then down here, wanna trade?

No.

I'd rather live in San Diego...

[mobil1syn]

ugh, i cant stand the place. just hangin out down there (my brother goes to ucsd) drives nuts. everything gets all slimy and gross at night. the place is highly overrated.

[TexasBlake]

Originally Posted by shamb

Its simple supply and demand. But you made the comment that the only reason somethings "over/under" valued is because people are paying those prices...........well... do they have a choice?

If it's simple supply and demand then the price is correct for the quantity with no shortages or surpluses. Thus, it's not overvalued or undervalued.

[qwiksilver]

Just proves no one wants to live in Texas.


YEEOUCH!

I just looked again. My hometown of Salinas, California is at number three.

Trust me, no sane person wants to live in that armpit.

Ok, that just blew my Texas remark out of the water.

[shamb]

If it's simple supply and demand then the price is correct for the quantity with no shortages or surpluses. Thus, it's not overvalued or undervalued.

lol damnit! I know where you are coming from but STILL, even though people are paying the prices doesn't mean its not overvalued it means people are desperate and willing to pay.

If gas is $30 a gallon its OVER priced but you still gotta get to work right?

If a burger costs $50 its OVER priced but you still gotta eat right?

[TexasBlake]

Originally Posted by shamb

lol damnit! I know where you are coming from but STILL, even though people are paying the prices doesn't mean its not overvalued it means people are desperate and willing to pay.

If gas is $30 a gallon its OVER priced but you still gotta get to work right?

If a burger costs $50 its OVER priced but you still gotta eat right?

If you bought it, then it's not overpriced. Things become overpriced when people stop buying.

For exaxmple, lets say you have a "highly collectible" baseball card. It's a Rookie card for Joe Bighitter. All your friends tell you, "Man, that card has got to be worth $5,000!!!" So happliy you throw it on ebay, but it only sells for $1000. It's only as worth as someone is willing to purchase it for, which is $1,000.

It's not worth $5,000 cause it didn't sell for $5,000

[shamb]

Right but there's a big difference between a collectable and things you need for life in general like a home.. food..

I'm in the process of buying a house, do I think they're over priced? Hell yes I do but do I have any other choice? nope! I'll be writing that fat ass check every month to pay the mortage but i'll still be thinking in the back of my mind "this place is way over priced"

Look at the way they slap these new houses up, they aren't worth half of the selling price. If a house costs $80,000 to build but it goes on the market for $280,000 then I believe that house is overpriced and overvalued.

Why do you think the housing market has skyrocketed like it has? I feel it's because people have no other choice but to give in and take it up the ass without any lube.