TODAY | February 08, 2012
>>> this morning on today's real estate , ten housing markets to watch. national home sales may not recover until next year but confidence is rising and some local markets are set to outshine others this year. barbara corcoran is here with the top ten list. good morning.
>> good morning.
>> let's talk first about who put the list together and what was the criteria they used?
>> in the news every year publishes a survey. they are trying to pinpoint the ten markets most likely to have the greatest appreciation and turnaround. one piece of the criteria is that the home price be similar or below the national average plus great jobs and a low foreclosure rate.
>> let's get to the list. number one on the list is raleigh, north carolina . so what's the average sales praise there and how does it compare to the median sales in the u.s.?
>> it's $224,000 whereas the national average right now is a low $169,000. but this is a market that's been buyed by the young population that's been growing. that creates a tremendous demand for housing. this is a traditional three bedroom, two and a half bathhouse with a screened in porch and water view. get it for $170,000. lots of jobs, lots of homes available and the prices are right.
>> and lots of young people . that's great. next is wichita , kansas, number two on the list. there is a particular industry that's helped buoy this market as well.
>> definitely. if you like airplanes you will be happy in wichita which is the air capitol of the world. home to aircraft companies including cessna spirit, hawk, beachcraft and leer jet. if you like that kind of thing you will be there. this is a nice home with enough room for a growing family. three bedroom two bath with vaulted ceilings room for a growing family and the affordability is key in wichita . it's a vibrant housing market .
>> good value.
>> third on the list is rochester new york. their employment rate has contributed to the comeback there. what is the rate?
>> what the employment rate is doing now is it's next to nothing. they are not counting the unemployment rate anymore. it has one of the 20 fastest growing job markets in the country which is great to have. if you're young with a family and you want to get a job, this is a sweetheart of a house. it has four bedrooms, one and a half baths, it's a colonial and only $124,900. look at the finishes in the room. it's a sweet house.
>> it is.
>> next is des moines , iowa. what quality does the area have that makes it attractive for families to live there?
>> families love it because it has great schools. if you want to motivate a family, give them great schools and half the problems are solved. gives you bang for your buck . we have a typically priced house. it's a five bedroom, two bath craftsman-style house with plenty of updates and it's only $150,000. almost the entire community is fully employed. wichita is a friendly place to live.
>> the fifth area that's likely to rebound is chattanooga, tennessee, georgia. how expensive are homes here?
>> they are affordable or wouldn't be on the list. they attract people from surrounding states moving in all the time. there are good jobs, houses, values. three good reasons to live in chattanooga. the house is a sweetheart.
>> let's take a look at the rest of the list. six is peoria, illinois, seven amarillo, texas, eight is binghamton, new york. waterloo- cedar falls , iowa and bloomington-normal, illinois. good places to invest.
>> the most important thing in each of the communities the house prices are already 5% to 11% higher than last year. you would swear there is no real estate recession in these towns. that makes it a great place to invest.
>> barbara corcoran, thanks for showing us what we should do with our money.