The great American hiring boom is slowing down--but as labor cools with the rest of the economy, a few choice regions will stay red-hot. You just have to know where to look.
By Paul Kaihla, Business 2.0 Magazine senior writer
Saturday, April 28, 2007
Friday, April 13, 2007
Condo Conversions Reverting Back to Rentals
Even back in December, when it became evident that the condo market was slowing down, Ted Charron went ahead and bought a two-bedroom, two-bath condo in Tampa — an area in which experts describe the housing bubble as particularly… bubbly.
He didn’t buy the unit with the intention of flipping it for quick profits, however, but to the tap growing demand for rentals, a by-product of the condo conversion craze that has swept through Florida and other populated, booming areas nationwide.
He didn’t buy the unit with the intention of flipping it for quick profits, however, but to the tap growing demand for rentals, a by-product of the condo conversion craze that has swept through Florida and other populated, booming areas nationwide.
Experts: Polk Real Estate in Transition
They say the market will thrive again as the area merges with Orlando and Tampa.
By Jeremy Maready The Ledger LAKELAND
The face of Polk County's real estate market is changing. Before too long, Polk County's Interstate 4 corridor is expected to merge into the sprawls of Tampa and Orlando, creating a giant megapolitan area. And as avaiable land becomes scarce in South Florida, the local real estate market is destined to thrive again. Those were the messages from land and development experts at Tuesday's Florida Real Estate Land Conference at Eaglebrooke in Lakeland.The conference is sponsored by Dean Saunders, owner and broker of Coldwell Banker Commercial Saunders Real Estate in Lakeland.Central Florida is one of only a handful of locations in the country where the merge of the metro areas could happen, said Robert Lang, co-director for the Metropolitan Institute at Virginia Tech."This county is in a privileged location."
By Jeremy Maready The Ledger LAKELAND
The face of Polk County's real estate market is changing. Before too long, Polk County's Interstate 4 corridor is expected to merge into the sprawls of Tampa and Orlando, creating a giant megapolitan area. And as avaiable land becomes scarce in South Florida, the local real estate market is destined to thrive again. Those were the messages from land and development experts at Tuesday's Florida Real Estate Land Conference at Eaglebrooke in Lakeland.The conference is sponsored by Dean Saunders, owner and broker of Coldwell Banker Commercial Saunders Real Estate in Lakeland.Central Florida is one of only a handful of locations in the country where the merge of the metro areas could happen, said Robert Lang, co-director for the Metropolitan Institute at Virginia Tech."This county is in a privileged location."
Central Florida targets European buyers
ORLANDO, Fla. – April 12, 2007 – Central Florida real estate professionals are leading the charge to attract Europeans to the area as both vacation and full-time homeowners.
The British infatuation with Central Florida is obvious – more than 8,000 people from the United Kingdom own homes in the area. But the rest of Europe – including France, Holland, Sweden, Norway, Finland, Germany and Russia – is an untapped market that practitioners are only beginning to exploit.
George Wanberg, a RE/MAX associate, was recently part of a two-person team that participated in the Second Home International exposition in Utrecht, Holland. The expo attracted more than 10,000 potential homebuyers throughout Northern Europe.
Wanberg said he returned from the Holland show with 39 solid prospects. The area is attractive to potential buyers because Central Florida is viewed as a bargain, compared to what Northern Europeans are used to paying for real estate and related expenses.
Source: Orlando Sentinel, Ramsey Campbell (04/10/07)
© Copyright 2007 INFORMATION, INC. Bethesda, MD (301) 215-4688
The British infatuation with Central Florida is obvious – more than 8,000 people from the United Kingdom own homes in the area. But the rest of Europe – including France, Holland, Sweden, Norway, Finland, Germany and Russia – is an untapped market that practitioners are only beginning to exploit.
George Wanberg, a RE/MAX associate, was recently part of a two-person team that participated in the Second Home International exposition in Utrecht, Holland. The expo attracted more than 10,000 potential homebuyers throughout Northern Europe.
Wanberg said he returned from the Holland show with 39 solid prospects. The area is attractive to potential buyers because Central Florida is viewed as a bargain, compared to what Northern Europeans are used to paying for real estate and related expenses.
Source: Orlando Sentinel, Ramsey Campbell (04/10/07)
© Copyright 2007 INFORMATION, INC. Bethesda, MD (301) 215-4688
Wednesday, April 11, 2007
Myrtle Beach Pavilion Nostalgia Park To Open Soon
Myrtle Beach Pavilion Nostalgia Park To Open Soon(Saturday, March 10th, 2007)
Burroughs & Chapin Company, Inc. of Myrtle Beach, S.C., unveiled plans for “The Pavilion Nostalgia Park” today at a press conference at Broadway at the Beach. The Pavilion Nostalgia Park will be a year-round attraction and is expected to open in early summer. It will be located on the east end of Broadway at the Beach near the Carmike Theaters, Hampton Inn and Jimmy Buffett’s Margaritaville Café.
Burroughs & Chapin Company, Inc. of Myrtle Beach, S.C., unveiled plans for “The Pavilion Nostalgia Park” today at a press conference at Broadway at the Beach. The Pavilion Nostalgia Park will be a year-round attraction and is expected to open in early summer. It will be located on the east end of Broadway at the Beach near the Carmike Theaters, Hampton Inn and Jimmy Buffett’s Margaritaville Café.
Pavillion Amusement Park
Answers to Key Questions
Provided by Burroughs & Chapin Co. Inc.
1. Burroughs & Chapin has been subsidizing the Pavilion for several years. How did you reach the decision to make 2006 the farewell season?
It is only because of its long and storied history that we chose to subsidize the Pavilion's existence in recent years. We make a point of operating our amusement and entertainment venues at high levels of safety and customer service and it is a tough, undeniable fact of life that the cost of keeping the 50-year-old amusement park operational finally reached the point of no return at the end of 2005. However, understanding the traditional and emotional attachments that many people have to the park, including the people at Burroughs & Chapin, we elected to keep the park open one more season in 2006 so that those who have never visited the park would have a chance to do so, and those who have visited the park would have the chance to add more positive memories to those they already have.
Why Investors Should Consider Real Estate
By Jeff D. Opdyke From The Wall Street Journal Online
With housing prices softening and subprime lenders tanking, investors have been running from anything that smells of real estate. But they may be bailing too quickly, as some parts of the sector are still doing well.
With housing prices softening and subprime lenders tanking, investors have been running from anything that smells of real estate. But they may be bailing too quickly, as some parts of the sector are still doing well.
New money going into mutual funds that own real estate has plunged to just $2 million a week, on average, from nearly $400 million a week as recently as mid-February, according to AMG Data Services. Investors in droves are also selling off their shares in real-estate investment trusts, the publicly traded stocks of companies that own everything from apartment buildings to medical centers and shopping malls.
But in some cases, jittery investor sentiment isn't a good proxy for the strength of the underlying assets. It is true that residential real estate is struggling in many parts of the country. But commercial real estate is driven by job growth and the economy, and both are relatively healthy. In fact, commercial-building occupancy is growing nationally, while rents are up about 4.25% in the past year, according to Los Angeles-based CB Richard Ellis Group Inc. Midtown Manhattan set a record in March for the city's highest rents ever: $69.99 a square foot, on average.
Area growth ranked 4th in nation by data
Region's continuing expansion challenges planners, marketers
By Dawn Bryant, Jessica Foster and Josh Hoke
The Sun News
TOM MURRAY/The Sun News
Contractor vehicles lining the streets, such as at the former Myrtle Beach Air Force Base, is a common sight in the Myrtle Beach area. The area's population grew 21 percent between 2000 and 2006.
From 2005 to 2006, the Myrtle Beach area was the fourth-fastest-growing area in the nation, according to data from the U.S. Census Bureau released today.
The Metropolitan Statistical Area identified as Myrtle Beach-Conway-North Myrtle Beach ranked 17th in the nation between 2000 and 2006, according to Census Bureau data.
By Dawn Bryant, Jessica Foster and Josh Hoke
The Sun News
TOM MURRAY/The Sun News
Contractor vehicles lining the streets, such as at the former Myrtle Beach Air Force Base, is a common sight in the Myrtle Beach area. The area's population grew 21 percent between 2000 and 2006.
From 2005 to 2006, the Myrtle Beach area was the fourth-fastest-growing area in the nation, according to data from the U.S. Census Bureau released today.
The Metropolitan Statistical Area identified as Myrtle Beach-Conway-North Myrtle Beach ranked 17th in the nation between 2000 and 2006, according to Census Bureau data.
Friday, April 06, 2007
Net Internal Migration
That's the term the Census Bureau uses to describe the net number of people leaving or moving into a state or county; the other components of population increase/decrease are natural increase (the number of births minus the number of deaths) and international migration. The net internal migration in the entire country is, by definition, zero. I took a look the other day at the internal migration in counties and found that internal immigration and outmigration in the period 2000-05 is staggering. In 24 counties, there was a net immigration of more than 50,000. In 33 counties, there was a net outmigration of more than 50,000.
Here are the counties with net immigration of more than 50,000; for those whose knowledge of counties is unaccountably limited, I've added the names of the county seat or major city and the major metropolitan area of which it is a part:
Click title for full report.
Fort Myers Cape Coral Real Estate Market Forecast
MONEY Magazine: Latest forecasts. Financing strategies. Renovation tips.
Cape Coral-Fort MyersPopulation: 440,888 FL
Market forecast (June 2006-2007) 9.3%
5-year historical change (2001–2005): 141.8%
5-year historical change, average annual: 19.3%
Change last year: 36.9%
FORECAST FROM FISERV CSW AND MOODY'S ECONOMY.COM
Median home value: $189,000
Median family income: $53,700
Median home value to median family income: 3.5
Sources:Population: U.S. Census Bureau, 2000Median Family Income: U.S. Department of Housing and Development, 2005Median Home Prices: Fiserv Lending Solutions, National Association of Realtors, 2005Historical change: Fiserv Lending Solutions, OFHEO, 2001 –2005Market forecasts: Fiserv Lending Solutions and Moody's Economy.com, June 2006 – June 2007
Atlanta tops in population growth
Latest Census stats: See which metro areas had the most growth since 2000.
By Les Christie, CNNMoney.com staff writer
April 5 2007: 10:02 AM EDT
NEW YORK (CNNMoney.com) -- Atlanta has been the fastest growing metropolitan area in the nation since 2000, with a gain of nearly 900,000 residents to 5.1 million.
Also gaining more than 800,000 residents in the five-year Census Bureau report were Dallas/Ft. Worth and Houston. Phoenix gained nearly 790,000. Seven of the top 10 fastest growers were in the South or West.
Others in the top 10 included the New York and Washington, D.C. metro areas, which both gained nearly 500,000, and Chicago, with more than 400,000.
The fastest growers by percentage were all much smaller cities. They were led by St George, Utah, which has increased its population by 39.8 percent since 2000. Greeley, Colorado was next with 31 percent growth and Cape Coral, Ft. Myers, Florida with 29.6 percent.
Fastest growing counties
More than 80 percent of the 361 metro areas covered gained population during the period. The biggest exceptions population were Katrina plagued New Orleans, down 22.2 percent, and Gulfport, Mississippi, off 5.8 percent.
The Weirton, West Virginia/ Steubenville, Ohio area was third worst; it lost 5.2 percent of it residents.
New Orleans also lost a higher number of residents than any other metro area - more than 290,000 since 2000.
By Les Christie, CNNMoney.com staff writer
April 5 2007: 10:02 AM EDT
NEW YORK (CNNMoney.com) -- Atlanta has been the fastest growing metropolitan area in the nation since 2000, with a gain of nearly 900,000 residents to 5.1 million.
Also gaining more than 800,000 residents in the five-year Census Bureau report were Dallas/Ft. Worth and Houston. Phoenix gained nearly 790,000. Seven of the top 10 fastest growers were in the South or West.
Others in the top 10 included the New York and Washington, D.C. metro areas, which both gained nearly 500,000, and Chicago, with more than 400,000.
The fastest growers by percentage were all much smaller cities. They were led by St George, Utah, which has increased its population by 39.8 percent since 2000. Greeley, Colorado was next with 31 percent growth and Cape Coral, Ft. Myers, Florida with 29.6 percent.
Fastest growing counties
More than 80 percent of the 361 metro areas covered gained population during the period. The biggest exceptions population were Katrina plagued New Orleans, down 22.2 percent, and Gulfport, Mississippi, off 5.8 percent.
The Weirton, West Virginia/ Steubenville, Ohio area was third worst; it lost 5.2 percent of it residents.
New Orleans also lost a higher number of residents than any other metro area - more than 290,000 since 2000.
South Florida's population booming despite challenges
BY LISA ARTHUR
larthur@MiamiHerald.com
Spiraling housing costs. Congested highways. Hurricane anxiety. All these things are supposed to be making South Florida a less attractive place to live.
But new Census estimates released today show the region continued to be a people magnet, drawing 455,869 new residents -- primarily immigrants-- between April 2000 and July 2006. That's the ninth-largest metro area increase in the country during that time.
The U.S. Census Bureau defines the region's metro area as Broward, Miami-Dade and Palm Beach counties. The new report shows a 9 percent increase in population the past six years.
''That's a lot of people, and that's major growth for an area already as large as we are,'' said Ted Leonard, senior planner for Broward County.
larthur@MiamiHerald.com
Spiraling housing costs. Congested highways. Hurricane anxiety. All these things are supposed to be making South Florida a less attractive place to live.
But new Census estimates released today show the region continued to be a people magnet, drawing 455,869 new residents -- primarily immigrants-- between April 2000 and July 2006. That's the ninth-largest metro area increase in the country during that time.
The U.S. Census Bureau defines the region's metro area as Broward, Miami-Dade and Palm Beach counties. The new report shows a 9 percent increase in population the past six years.
''That's a lot of people, and that's major growth for an area already as large as we are,'' said Ted Leonard, senior planner for Broward County.
Monday, April 02, 2007
Lee County Economic Development
Lee County, on Florida's southwest coast, has earned a solid reputation as a cost-effective, well-managed place to grow a business. County officials and business executives are equally quick to attest to the region's extraordinary appeal. Relocating and expanding companies, they say, will find in Lee County a balanced economic environment that supports growth while respecting natural beauty and open spaces.
Market Facts
The Milken Institute named Fort Myers-Cape Coral best performing city in the nation for job growth in their 2004 survey of "Best Performing Cities: Where America's Jobs are Created."
According to the US Census an average of 20,700 people move to Lee County annually, adding an estimated 11,400 people to the labor pool.
Southwest Florida International Airport is the 8th fastest-growing airport in the country and is currently undergoing a $438 million expansion.
National site consultants ranked the telecommunications infrastructure in Lee County as one of the top five markets in the U.S.
Southwest Florida's 18-24 year old population (those available to enter the workforce) is growing at a much faster rate than those of the State of Florida and the U.S.
What Others Say About Lee County
Consumers Digest Magazine has named Florida Gulf Coast University No. 11 among the top 50 best values for public colleges and universities in the Nation.
According to the Bureau of Labor Statistics Lee County Florida was the sixth highest county in the nation for job growth between September 2003 and September 2004.
INC Magazine ranked Fort Myers-Cape Coral 9th among it's top 25 medium metropolitan cities for entrepreneurs. (2005)
Forbes Magazine ranked Ft. Myers-Cape Coral 2nd among the top 150 cities for job growth. (2005)
Expansion Magazine named Lee County a four-star community in its annual quality of life scorecard for 2003.
U.S. Housing Markets ranked Ft. Myers - Cape Coral as the number one housing market in a metropolitan area in the nation for 2003 and 2004.
Self magazine ranked the Fort Myers-Cape Coral metropolitan area "No. 1 in the nation for working women," in 2003.
Lee County's Work Skills Program has been selected as a winner in the 2003 Florida's Best - Business and Education Partnership Program.
Money Magazine has selected Ft. Myers - Cape Coral as the 6th Best Place to live in America out of the 300 biggest metro areas in the United States.
Edison Community College has been named as one of the top 25 community colleges in the United States by Community College Week magazine in 2003.
Florida Gulf Coast University (FGCU), Florida's tenth state-university opened in August of 1997 and now offers 37 undergraduate and 20 graduate programs in the areas of Arts and Sciences, Business, Education, Health Professions and Professional Studies. They have been the fastest growing university in Florida for the past three years and continue to add new programs including the Bachelor of Biotechnology program added in 2003.
FGCU, with its innovative programs, technology friendly campus, and outstanding faculty, is one of the most exciting educational environments in America. FGCU is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools (SACS). In addition, AACSB International accredits the College of Business.
According to the US Census Lee County is among the 100 fastest growing counties in the nation.
Forecast magazine lists Ft. Myers - Cape Coral 15th in its "Booming 25" ranking of the 25 fastest growing metro areas through the year 2005.
According to the National Golf Foundation, Ft. Myers ranks 5th in the nation for golfer-to-holes ratios.
Fort Myers High School was ranked among the 100 best high schools in the nation for both 2003 and 2004 by Newsweek magazine.
Three Oaks Elementary School was the first in the nation to adopt the Core Knowledge Curriculum.
The Golden Apple Teacher Recognition Program, a local private sector program designed to honor teaching excellence, is now being emulated nationally.
The crime rate for Lee County (crimes per 100,000 people) is among the lowest (4,529) of Florida's major metropolitan areas according to the Florida Department of Law Enforcement.
Fort Myers Chamber of Commerce
Fort Myers
Nestled along the scenic shoreline of the Caloosahatchee River, the city has become an interesting blend of young and old.
Sporting the youngest population in Lee County, with a median age of 32, the City of Fort Myers is also home to the historic winter residences of Thomas Edison and Henry Ford. Extensive renovation of the historic downtown waterfront is underway, with new restaurants, nightclubs, apartments, and artistic venues providing energy and growth.
Throughout the year, Southwest Florida residents and visitors enjoy cultural events overlooking the river at Centennial Park and the Fort Myers Yacht Basin.
Nestled along the scenic shoreline of the Caloosahatchee River, the city has become an interesting blend of young and old.
Sporting the youngest population in Lee County, with a median age of 32, the City of Fort Myers is also home to the historic winter residences of Thomas Edison and Henry Ford. Extensive renovation of the historic downtown waterfront is underway, with new restaurants, nightclubs, apartments, and artistic venues providing energy and growth.
Throughout the year, Southwest Florida residents and visitors enjoy cultural events overlooking the river at Centennial Park and the Fort Myers Yacht Basin.
Fort Myers Attractions
Edison & Ford Winter Estates2350 McGregor Blvd.Fort Myers, FL 33901
As the nation's 9th most visited historic home, the Estates includes 20 acres of historic buildings and gardens, Edison's original rubber lab, a large museum, food and retail areas, and river cruises on a replica electric launch. Call 239.334.7419 for tour specifics, rental and group information.
As the nation's 9th most visited historic home, the Estates includes 20 acres of historic buildings and gardens, Edison's original rubber lab, a large museum, food and retail areas, and river cruises on a replica electric launch. Call 239.334.7419 for tour specifics, rental and group information.
Cleveland Area Redevelopment Plan
Click here for an update on the Cleveland Avenue project!
12/12/06 - Business Owners Workshop to Review Proposed Access Management
Welcome to the Cleveland Avenue Redevelopment Plan web site. While this project may only cover a 3.5-mile stretch of Cleveland Avenue, the changes it will create are going to affect the lives of the 50,000 people who live, work and travel this stretch of road each day. Located in southwest Florida, the City of Fort Myers is experiencing an exciting time of redevelopment. One exciting part about this change is the fact that the redevelopment is no longer focused just on Downtown Fort Myers but is spilling over into other areas and neighborhoods within the City. On this website, you will find information about the Cleveland Redevelopment project. The Event Schedule will inform you of upcoming events in which you can get involved and share your thoughts. The Project Updates will update you on the progress of the redevelopment effort. You will not only learn about our progress, but you will be able to view the same information that was presented to the public at each of our meetings. You can also view maps of the four Cleveland Redevelopment Districts on the Project Maps page.
12/12/06 - Business Owners Workshop to Review Proposed Access Management
Welcome to the Cleveland Avenue Redevelopment Plan web site. While this project may only cover a 3.5-mile stretch of Cleveland Avenue, the changes it will create are going to affect the lives of the 50,000 people who live, work and travel this stretch of road each day. Located in southwest Florida, the City of Fort Myers is experiencing an exciting time of redevelopment. One exciting part about this change is the fact that the redevelopment is no longer focused just on Downtown Fort Myers but is spilling over into other areas and neighborhoods within the City. On this website, you will find information about the Cleveland Redevelopment project. The Event Schedule will inform you of upcoming events in which you can get involved and share your thoughts. The Project Updates will update you on the progress of the redevelopment effort. You will not only learn about our progress, but you will be able to view the same information that was presented to the public at each of our meetings. You can also view maps of the four Cleveland Redevelopment Districts on the Project Maps page.
House-price data by metro area
By MSN Money staff
Appreciation in U.S. housing prices continued a slowdown in the fourth quarter of 2006, following a trend that had started earlier in the year.
Twenty-five metro areas recorded decreases house prices, the Office of Federal Housing Enterprise Oversight (OFHEO) reported this morning.
Prices were up 1.1% compared with the third quarter, the OFHEO said, and up 5.9% from the fourth quarter a year earlier. That's significantly slower growth than in 2005, when housing prices increased an average of 13.2% for the year nationwide.
Findings of the report include:
The five states with the largest appreciation rates between 2005's fourth quarter and last year's fourth quarter were Utah, 17.6%; Wyoming, 14.3%; Idaho, 14%; Washington, 13.7%; and Oregon, 13.5%.
Appreciation in U.S. housing prices continued a slowdown in the fourth quarter of 2006, following a trend that had started earlier in the year.
Twenty-five metro areas recorded decreases house prices, the Office of Federal Housing Enterprise Oversight (OFHEO) reported this morning.
Prices were up 1.1% compared with the third quarter, the OFHEO said, and up 5.9% from the fourth quarter a year earlier. That's significantly slower growth than in 2005, when housing prices increased an average of 13.2% for the year nationwide.
Findings of the report include:
The five states with the largest appreciation rates between 2005's fourth quarter and last year's fourth quarter were Utah, 17.6%; Wyoming, 14.3%; Idaho, 14%; Washington, 13.7%; and Oregon, 13.5%.
Michigan, where prices fell 0.4%, was at the bottom of the quarter's appreciation list. The states with the smallest increases were Massachusetts, 0.5%; Ohio, 1%; Indiana, 2.3%; and Minnesota, 2.5%.
Prices in and close to areas affected by Hurricane Katrina had double-digit increases for the year, chiefly because of housing shortages.
City rankings are listed by metropolitan areas. The OFHEO's House Price Index is published on quarterly basis and tracks average house-price changes in repeat sales or refinancings of the same single-family properties. The index is based on analysis of data obtained from Fannie Mae and Freddie Mac from more than 30 million repeat transactions over the past 30 years.
(See chart click title)
America's next hot neighborhoods
For price-sensitive buyers, here's a look at the areas in the U.S.'s largest cities that offer the best quality of life along with strong investment potential.
By Maya Roney, BusinessWeek
"Up-and-coming," "gentrifying," "on the rise." Terms like these can be realty-agent rhetoric or a red flag for homebuyers. But less-pricey city neighborhoods where home values have shot up in the past few years are worth scouring for deals, especially now that prices have dipped in many areas.
There's usually more behind their increase in value than just the overall increase in property values across the United States over the past five years. Factors such as schools, improved crime rates, high employment and access to public transportation make these neighborhoods increasingly appealing to price-sensitive buyers.
BusinessWeek.com worked with online real estate service Zillow.com to come up with a list of the next hot neighborhoods in 10 of the country's biggest cities. Looking at Zillow's database of historical home valuations, we identified the neighborhood in each city that saw the most median home-value appreciation in the past five years, excluding neighborhoods where the median home value was currently above the median home value for the city.
The result: neighborhoods with both relatively affordable housing and a recent history of significant appreciation. Though identifying undervalued and undiscovered areas is far from an exact science, these neighborhoods have what it takes to become solid investments -- and places to live. Despite of double-digit appreciation in the past few years, the areas' low home prices (compared with the city's overall prices) suggest there's still room for considerable growth.
By Maya Roney, BusinessWeek
"Up-and-coming," "gentrifying," "on the rise." Terms like these can be realty-agent rhetoric or a red flag for homebuyers. But less-pricey city neighborhoods where home values have shot up in the past few years are worth scouring for deals, especially now that prices have dipped in many areas.
There's usually more behind their increase in value than just the overall increase in property values across the United States over the past five years. Factors such as schools, improved crime rates, high employment and access to public transportation make these neighborhoods increasingly appealing to price-sensitive buyers.
BusinessWeek.com worked with online real estate service Zillow.com to come up with a list of the next hot neighborhoods in 10 of the country's biggest cities. Looking at Zillow's database of historical home valuations, we identified the neighborhood in each city that saw the most median home-value appreciation in the past five years, excluding neighborhoods where the median home value was currently above the median home value for the city.
The result: neighborhoods with both relatively affordable housing and a recent history of significant appreciation. Though identifying undervalued and undiscovered areas is far from an exact science, these neighborhoods have what it takes to become solid investments -- and places to live. Despite of double-digit appreciation in the past few years, the areas' low home prices (compared with the city's overall prices) suggest there's still room for considerable growth.
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