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#426750 - 08/03/08 11:11 AM Bucking the Tiger
CJS Offline
Admiral

Registered: 07/08/04
Posts: 1681
Loc: Down in Fraggle Rock
I've been doing some research on where I live and to where we may move in the short term, and I noticed something surprising.

Homes in Fox Lake, IL have continued to appreciate at a rate of 1.85% over the last year, according to www.bestplaces.net, despite an overall downward turn in home prices in northern IL.

Home prices in area between Milwaukee and the WI/IL state line have dropped as much as 16% in the past year (also according to bestplaces.net), which is where we've been looking to move (work-related move). I feel good selling a home that's continued to appreciate since 2002, when we bought it.

Does anyone else live in an area that, against all odds, has continued to appreciate in a "down market"?

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#426833 - 08/03/08 09:12 PM Re: Bucking the Tiger [Re: CJS]
Anchor Management Offline
Lieutenant

Registered: 07/28/06
Posts: 69
Loc: North Texas
Based on the link above, our area in N. Texas has appreciated 6.5% over the past year. But, Texas didn't see the huge run-up in prices over the past 3-5 years, so we're not seeing the opposite down turn now.
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#426846 - 08/03/08 10:29 PM Re: Bucking the Tiger [Re: Anchor Management]
Gdburch Offline
Vice Admiral

Registered: 03/06/04
Posts: 223
Loc: Spokane, Washington
Look at the date of the information. I just checked our zip code and it said we have appreciated 8.94% over the last year which I wish was true. However, it looks like the data is from 2007.
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#426889 - 08/04/08 08:52 AM Re: Bucking the Tiger [Re: Gdburch]
On Holiday Offline
Proud Daddy
Admiral

Registered: 08/18/04
Posts: 2630
Loc: Pennsylvania
My county is appreciating some and the housing market is much better but the next county over is not. That county has many people who trend toward cheaper housing costs and will commute an hour plus to Baltimore and even into the DC market. The higher gas prices is keeping people closer to home. Do you pay less for gas and live in a smaller house closer to work or do you pay more for gas and live in a bigger house for less but have to drive an hour plus each way to work. I would live closer to work to have a better family life.
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#426897 - 08/04/08 10:30 AM Re: Bucking the Tiger [Re: On Holiday]
Bankonit27 Offline
Admiral

Registered: 09/08/03
Posts: 1198
Loc: Geneva, Illinois
Assuming that you have a house that someone wants to buy and get qualified for, then your house has appreciated. Much of the housing data is old, like mentioned before. If you talk to realtors, you will find that houses are sitting on the market longer (At all price ranges), partially because they think their homes are worth more, and partially because of the limited number of qualified buyers. I did not look at the website, but our area has held steady and homes that are marketed properly sell briskly. Others have been on the market for 90 to 180 days.
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