The Top 10 Luxury Markets to Watch

Daily Real Estate News January 26, 2007

The Top 10 Luxury Markets to Watch

Unique Homes Magazine in its January issue lists what it expects to be the top 25 luxury markets in 2007. Collectively, the communities that made it on the list represent where the market is heading, according to the magazine.

Here are the Top 10 and the factors that make them standout as leaders of the pack:

1. Annapolis, Md.: Great boating and affordable prices compared to Washington, D.C., or Baltimore, both of which are a reasonable commute from Annapolis, too.

2. Asheville, N.C.: Eclectic ambiance draws the upscale to an outdoorsy, low-key lifestyle.

3. Aspen, Colo.: Four-season appeal, which is kept exclusive by restrictive zoning that restrains supply.

4. Atlanta, Ga.: A big-city appeal with lots of lifestyle amenities and new upscale communities.

5. Austin, Texas: Posting record gains for most of 2006, a mix of newcomers are drawn to its great music and scenery and the cosmopolitan University of Texas.

6. Bellevue/Medina, Wash.: This city has lots of upscale neighborhoods that aren’t as pricey as other northwest areas.

7. Beverly Hills, Calif.: Its reputation as a Mecca for luxury remains untarnished.

8. Idaho: The state is a luxury newcomer with growing resort markets, such as Coeur d’Alene, McCall, and Sandpoint.

9. Jupiter, Fla.: Tiger Woods started a trend here when he purchased a 10-acre estate for $38 million.

10. Manhattan: Wall Streeters flush with 2006 bonuses are snapping up desirable co-ops and town houses.

Source: Unique Homes, Camilla McLaughlin (December 2006/January 2007)

10 Markets at Highest Risk for Declining Prices

10 Markets at Highest Risk for Declining Prices

PMI Mortgage Insurance Co. reports that its Market Risk Index scores have increased for 34 of the nation’s 50 largest metropolitan statistical areas.The scores measure the risk that home prices will decline in the next two years. Nineteen MSAs face a greater than 50 percent chance that home prices will fall, up from 18 last quarter.The risk of price declines continue to be concentrated in California and along the Eastern Seaboard. In fact, eight of the riskiest markets are located in California, eight are in the Northeast, and two are in Florida.

The 10 markets with the highest risk of declining prices are:
1. Sacramento-Arden-Arcade-Roseville, Calif.
2. San Diego-Carlsbad- San Marcos, Calif.
3. Oakland-Fremont-San Marcos, Calif.
4. Santa Ana-Anaheim-Irvine, Calif.
5. Nassau-Suffolk, N.Y.
6. Riverside-San Bernardino-Ontario, Calif.
7. Los Angeles-Long Beach-Glendale, Calif.
8. Boston-Quincy, Mass.
9. Providence-New Bedford-Fall River, R.I.-Mass.
10. San Jose-Sunnyvale-Santa Clara, Calif.

— REALTOR® Magazine Online