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RISMEDIA, January 29, 2010—While some of the “hottest” real estate markets in the country- those where homes are selling most above their list prices- continue to be distressed areas dominated by heavily discounted prices, Q4 2009 revealed some notable exceptions. In two higher priced zip codes in California’s Berkeley and the Los Angeles suburb of Tarzana, and three zip codes in the greater Dallas-Fort Worth area not dominated by distressed listings, homes sold on average well above asking price in Q4, according to ZipRealty’s quarterly Home Hunter Report. These are just some of the highlights revealed by ZipRealty’s recently released report which identifies where home sellers are fetching the highest offers compared to their asking prices among 33 markets the brokerage serves. Highlights from the ZipRealty Q4 2009 Home Hunter Report, which also identifies which cities nationwide are most highly searched online, include: -Phoenix was 2009’s most popular city in the country for online home hunters, according to the volume of the total number of home searches on www.ZipRealty.com throughout the year. -Homes in Berkeley’s 94703 zip code sold for an average of 107.86% of list price in Q4. The average home sale price for the zip code was $538,626 for the same period. Homes in the Tarzana district of Los Angeles’ 91356 zip code sold for an average of 107.30% of list price in Q4, with an average sale price of $653,722 for the same period. In Q3 2009, homes in the Tarzana zip code had commanded only 93.55% of list price. -Texas claimed three of the country’s “hottest” markets in Q4 for the first time. Homes in Fort Worth’s 76135 zip code sold for an average of 134.65% of asking price in Q4, while homes in the upscale Dallas bedroom community of Rowlett (75089) commanded on average 110.81% of asking price. Zip code 76001 in Arlington, Fort Worth’s largest suburb, also entered the top ten list this quarter .-All of the five remaining cities on the Top 10 “Hottest Markets” list are also located in California, including: Sacramento (95832); San Lorenzo (94580); Oakland (94621); Palmdale (93591); and San Bernardino (92405). On the cold end of the spectrum, Florida zip codes continue to dominate those areas selling at a discount, where sellers are accepting on average 70 to 85 cents on the dollar. Florida zip codes selling most below asking price based on sales-to-list price ratio include: Deland (32720); Orlando (32827); Largo (33773); Delray Beach (33483); Naples (34102); Miami’s Coral Gables (33134); and Boca Raton (33496). Zip codes 75203 in Dallas, 19132 in Philadelphia and 60022 in Glencoe, Ill., join the Florida zip codes as the country’s coldest. “For more than a year now we’ve been seeing distressed areas with heavily discounted properties dominate the ‘hot’ markets where homes fetch more than the asking price, and it’s a great sign that we’re now starting to see higher-priced areas going over asking price, too,” said Leslie Tyler, vice president and chief home hunter for ZipRealty. “These hot micro-markets across California and Dallas-Fort Worth point to the continued stabilization happening in different areas nationwide.” Phoenix Dominates Nation’s Most Popular Cities for Home Hunters in 2009According to ZipRealty, the Phoenix area was by far the most popular for homebuyers in all of 2009, according to the volume of the total number of home searches on www.ZipRealty.com throughout the year. Areas where home prices have dropped significantly since 2007, including Phoenix, Southern Florida and Las Vegas, generated the most home hunter interest throughout the year. The most popular cities for home searches in all of 2009 were: 1. Phoenix 2. Scottsdale (Phoenix metro) 3. Orlando 4. Summerlin (Las Vegas community) 5. Chandler (Phoenix metro) 6. Mesa (Phoenix metro) 7. Gilbert (Phoenix metro) 8. Henderson – Green Valley (Las Vegas metro) 9. Atlanta 10. Kissimmee (Orlando metro) “We’ve seen incredible buyer interest throughout 2009 in homes perceived as bargains in the Phoenix area from across the country, and even from ’snow-birds’ looking for winter retreats from Canada,” Tyler explained. “Meanwhile, buyers and sellers in Southern Florida still seem to be waiting for the bottom of the market.”
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uses will become easier this week for qualified residents of West Palm Beach, Florida following the city’s implementation of a financial assistance scheme that will provide 50-percent financing to prospective buyers of houses in the Coleman Park community. According to West Palm Beach Mayor Lois Frankel, the homeownership program was designed to help bring more moderate- or higher-income families into Coleman Park and help make the community safer and more stable. Mayor Frankel explained that while the area was known for crime in the past, incidents of crime have been declining over the past years. She also said that Coleman Park is just 5 minutes to and from downtown and to the waterfront. Andrew Weitch, home loan manager for Wells Fargo in West Palm Beach, said that prospective buyers can look at CityPlace in the south, which has been turned into a vibrant, stable and very safe neighborhood. The houses to be sold include newly-built three-bedroom homes priced at $150,000, with buyers paying $75,000 and the city paying the other half. For those buying foreclosed houses rehabilitated by the city, they will pay only $44,500, with the city paying the rest to cover the selling price of $89,000. The city expects police officers, city employees and other workers to take advantage of the offer. Applicants need to pass financial and criminal background checks, although there will be cases where credit levels lower than 600 may be considered. Only lower-income buyers will be eligible under the program, excluding individuals earning more than $63,360 and married couples earning more than $72,360. A family of 5 must be earning only $97,680 or lower. Applicants must also commit to live in the properties, use them as their principal residence and not use them for investment purposes. According to Mayor Frankel, the home buying program is one great deal because it runs in conjunction with other housing stimulus programs like the federal tax credit program and other closing-cost assistance programs. In an earlier report about the program, city commissioners questioned the provision in the program under which buyers can resell the properties after three years and get back the money they invested plus the profit from the sale. The commissioners said that they are not willing to use federal stimulus money for buying foreclosed houses to help supposedly needy buyers, but who are really shrewd people taking advantage of government programs for their investment purposes. Article found on eforeclosuremagazine.com
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South Perdido Bay, West Pensacola - Announcing a price reduction on 9725 HWY 98 W, #8, a 1,204 sq. ft., 2 bath, 2 bdrm 2 story. Now  MLS®$30,900 - Ideal Investment Property. Property information
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Highlands, Pensacola - Announcing a price reduction on 5893 DANDELION LN, a 1,534 sq. ft., 2 bath, 3 bdrm single story. Now MLS®$109,900 - Foreclosure Pensacola. Property information
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South Pensacola, Pensacola - Announcing a price reduction on 3305 W CERVANTES, a 1,472 sq. ft., 2 bath, 2 bdrm single story. Now MLS®$29,000 - Just Reduced! Priced Go!. Property information
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Mayfair, Pensacola - Announcing a price reduction on 429 EDISON DR, a 1,606 sq. ft., 1 bath, 3 bdrm single story. Now MLS®$32,620 - Just Reduced! Bank Owned!. Property information
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Naval Air Station, Pensacola - Announcing a price reduction on 1260 PATTON DR, a 1,425 sq. ft., 2 bath, 3 bdrm single story. Now MLS®$39,900 - Reduced! WOW!. Property information
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Marcus Pointe, Pensacola - Announcing a price reduction on 741 ALFONSO ST, a 825 sq. ft., 1 bath, 2 bdrm single story. Now MLS®$48,999 - Great Price, Reduced!. Property information
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Myrtle Grove West, Pensacola - Announcing a price reduction on 4503 MIGNON CT, a 1,300 sq. ft., 2 bath, 3 bdrm single story. Now MLS®$66,000 - Charming Home Great Price. Property information
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Beach Haven, Brookside - Announcing a price reduction on 1922 ALBANY AVE, a 1,441 sq. ft., 2 bath, 3 bdrm single story. Now MLS®$59,999 - Huge Reduction!. Property information
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South Perdido Bay, West Pensacola - Announcing a price reduction on 1225 BRIDGE CREEK TER, a 2,094 sq. ft., 2 bath, 3 bdrm single story. Now MLS®$94,900 - Just Reduced!. Property information
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Holley by the Sea, Navarre - Announcing a price reduction on 6709 BRYANT RD, a 3,016 sq. ft., 3 bath, 4 bdrm single story. Now MLS®$237,500 - Reduced Again!!. Property information
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Lost Key Resort, Perdido Key - Announcing a price reduction on 608 LOST KEY DR, #402C, a 1,624 sq. ft., 2 bath, 2 bdrm other. Now MLS®$209,900 - Just Reduced!. Property information
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Perdido Key, Pensacola - Announcing a price reduction on 612 LOST KEY DR, #804B, a 1,624 sq. ft., 2 bath, 2 bdrm other. Now MLS®$159,900 - Just Reduced $6K!. Property information
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Northwest Pensacola, Pensacola - Announcing a price reduction on 1052 CANDLEWOOD DR, a 2,052 sq. ft., 2 bath, 2 bdrm 2 story. Now MLS®$112,900 - Many Amenities!. Property information
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