A vast oversupply of housing inventory caused by home builders building at a pace that far exceeded historical norms. Also known as double-duty rooms, you’ll see flex rooms advertised as an additional living area that can serve a variety of purposes, from a guest bedroom to a game room to an exercise room to a study room for the kids. Owners in the Aldi ZIP codes saw 69 percent return on investment, compared with 41 percent for Whole Foods and 36 percent for Trader Joe’s.
These values are updated regularly to ensure you receive what you need when making decisions regarding one of your largest investments. You can arrive at the average per square foot cost of a home by adding the square foot cost of each home that has sold in any given area and dividing by the number of homes that sold. For example, the forecast for Redding, CA is for home values to increase by 10.7 percent from November 2012 to November 2013. However, the home values trend does not hold up in two states areas that have been hit hard by storms and flooding as well as rising flood insurance prices.
He said Houston-area rents rose 6.1 percent in 2001 after Tropical Storm Allison hit Houston; Hurricane Ike in 2008 raised rents by 5.7 percent. Values in Danbury, where both Whole Foods and Aldi have stores, rose by 4 percent to $162,028, according to Attom Data. Another area where some owners may see a bit of sticker shock is within the Lindbergh School District, said H. John Neff, appraiser with appraisal firm Mueller & Neff.
These regional differences are typical – in recent years, Western residents have been more likely than those in other parts of the country to say local home values will rise in their area. The region is the worst metropolitan area in the country in regards to storm surge risk, with an estimated 780,000 homes potentially affected. The exceptions to the broader trend of rising values were mostly in inner-ring suburbs north of Interstate 70. Farther out, most North County neighborhoods saw appraised values rise. Nearly all the homes in Denver and San Francisco (98 percent) have exceeded their pre-recession peak, according to Trulia.
The Home Price Index, published by the Federal Housing Finance Agency (FHFA), shows U.S. property values growing more than one-half of one percent in March, wrapping up 62 straight months of gains. Along comes a Realtor who presents their comparative market analysis of all the households in the area that have recently sold, gone under contract and are currently for sale. Interestingly Miami, which has a weaker economy and experienced the fastest decline in home prices during the recession, is the only other large metro area to see major increases in home sale prices over the same period.