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Cities With Least Realistic Home Prices

Washington D.C.

  • Median listing price: $359,900
  • Median sales price: $313,300
  • Difference: -13%

While housing is relatively healthy in and near the capital’s center, Washington’s metro area makes this list because of the stagnant market on the periphery. Residential real estate within a 10-mile radius of the Beltway is selling quickly and for close to asking prices, but homes 25 miles away or more tend to linger on the market, says Mehmet Halici, associate broker with Weichert Realtors in Bethesda, Md., who sells real estate in the D.C. metro area. Most of those homes have been listed for at least three months and have slashed their asking prices by 10% or more, he says.

Experts say that disparity is part of a trend underway in pockets throughout the country: More buyers are choosing to settle down in or near major cities to be near work and save on transportation costs rather than move to the suburbs, says Halici. The diminished demand for homes in the suburbs then pushes the eventual purchase price of homes down.

Going forward, an even greater spread between the listing and sales prices could materialize, experts say. In February, 232 homes in the area received a foreclosure notice – that’s the first step in a foreclosure process – and while that number isn’t big it’s a 130% jump from a year prior, according to RealtyTrac.com. Those homeowners who manage to sell may have to accept a lower price.

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Next, the 3 markets with the smallest difference between list and asking prices:

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    • -1′

    • I am NAR and you can rely on my “data.” Trust me…Have I ever lead you wrong before?

    • The truth is that banksters are MANIPULATING the nationwide RE market by carefully rationing the amount of distressed properties that they allow to TRICKLE onto the open market.

      At the same time, most Americans currently buying homes are FHA-sponsored DEADBEATS who can barely manage to scrape together the prerequisite 3% downpayment. Is it any wonder that 15% of these slobs fall into DEFAULT (yet again) withing the first 24 months?

      Good luck trying to “fix” the U.S. economy by openly promoting
      F-R-A-U-D.

      Why would ANYBODY with REAL

    • my best friend’s mother-in-law brought home $12987 the prior month. she is making income on the laptop and got a $519600 house. All she did was get fortunate and follow the steps explained on this link (Click on menu Home more information) http://goo.gl/z7U5j

    • Here in the Inland Empire (California’s San Bernardino / Riverside Counties) the asking for resale depends upon the seller. Whether the seller is selling short or bought too high and wants to get their money back. The medium 4 bedroom 3 bath 3,000 square foot home is $425,000 being listed as $500K plus. The selling price however averages $328K and is going downward on buy offers going lower. The figures are based upon 76 resale homes sold.

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