Posts Tagged ‘Cities’
Some Cities Are Better Home Improvement Markets
Article by Guy Morris
Because the home improvements industry is such a massive part of the economy, companies in apiece sector of the business want to know who is making improvements to their home and how much they are doing on their own. One service company, Arbitron, uncovered some interesting facts during their survey efforts.
The surveys and studies revealed that almost half of adults in 75 cities crossways the nation prefabricated home improvements in a 12-month period. Consumers in smaller economic markets tend to spend more on home improvements than residents and homeowners in the larger cities. A close look at these figures shows that many people undertake do-it-yourself (diy) projects when it comes time for home improvements.
Apparently, Harrisburg, Pennsylvania, leads the way – 59 percent of residents started a home improvement project in the year preceding the study. Following the Harrisburg homeowners closely were those who lived in Buffalo, New York and Toledo, Ohio. In these two cities, 56 percent of residents planned and started a home improvement project in that same 12-month period.
Other markets that statement for the top 10 in citizen/home improvement numbers are: Detroit; Atlanta; Syracuse; Rochester; Flint; Cincinnati; and Indianapolis. In apiece of these mid-size cities about 55 percent of residents started or finished a home improvement or remodelling project in the prior year.
At the lower end of the spectrum, the residents of Honolulu, Hawaii were least likely to swing a hammer or use a saw. According to the survey, 37 percent of residents reported being involved in a home improvement project in the prior year. This place the island city at number 75 among the 75 cities in which residents were surveyed. Other mid-size communities in which less than half of the residents started a project were: Fresno, California – 40 percent; Las Vegas – 40 percent; San Diego – 42 percent; San Francisco – 43 percent; Washington, D.C. – 44 percent; Los Angeles – 44 percent; Miami – 45 percent; Chicago – 46 percent; New York – 48 percent.
What purpose can these numbers serve in the larger economic picture? Arbitron’s Alisa Joseph states the findings show good opportunities for home service advertisers trying to reach consumers who plan to undertake a home renovation project of some kind. Joseph, who is director of income for Advertiser Marketing Services, Arbitron Inc./Scarborough Research also stated that the company’s work provides information that grants home improvement businesses to superior comprehend consumer behavior.
One of the more interesting facts uncovered by the study was the number of consumers whose projects included interior painting or wallpapering. Arbitron/Scarborough found that 25 percent of homeowners took this step. A significant number of residents of the 75 cities also selected to begin a landscaping project. Companies in the industry will be interested to find out that these types of projects were much more favourite than home security system projects (2 percent) or pool/spa additions (1 percent).
Among the fascinating details included in the survey/study:
*36 percent of those who tried the home improvement experience spent over ,000. This is an increase from 30 percent less than a decade ago.
*46 percent of “home improvement” consumers were between the ages of 35 and 54.
*63 percent were married
*55 percent have household incomes of more than ,000
*Internet users are more likely to make home improvements
*53 percent renovated kitchens themselves; 78 percent – paint/wallpaper; 76 percent – landscaping; bathroom remodelling – 61 percent; home security – 81 percent; heating/air conditioning – 76 percent; carpet/floor covering – 63 percent.
The study showed one other fascinating fact: Those who listen to Oldies/Classic Hits and All-Sports broadcasting are 14 percent more likely to have improvement projects in their plans.
About the Author
Focusing on news and information about replace storm windows, he published primarily for http://www.replacement-windows-tips.com. Sharing his passion in detailed publications such as http://www.replacement-windows-tips.com, the reviewer proofed his ability on topics corresponding to select a replacement window.
2006: U.S. Cities With Affordable Real Estate And Homes
The price of housing is a major challenge in the United States. Some estimates note that more than 50% of the population can't afford a median priced home. According to National Association of Home Builders (NAHB), of the total number of new and existing homes sold nationwide during the third quarter, only 40. 4 percent were inexpensive for families earning the median U. S. income of $59,600.
But it is good news that housing affordability on the national level has not changed much in the third quarter in spite of a rise in the mortgage interest rates during the last quarter. This was because many markets saw a slight decrease in their home prices, which helped offset the rise in mortgage rates.
Indianapolis (Indiana) is the most inexpensive city for homes in America, based on the 2006 third quarter report of the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). The city reached this position for the fifth consecutive quarter.
Of the total number of housing units sold in Indianapolis during the third quarter, 86 percent of homes were priced at or below the U. S. median household income of $65,100. Homes in this metro area had a median income price of $122,000, which is slightly higher from $120,000 of the previous quarter.
It is interesting to note that the most inexpensive U. S. cities for homes, condos and other real estate are largely from the northern industrial metro areas. The other larger cities that top the list for inexpensive homes in the third quarter after Indianapolis are Youngstown-Warren-Boardman (Ohio-Pennsylvania); Detroit-Livonia-Dearborn (Michigan); Buffalo-Niagara Falls (New York); and Grand Rapids and Wyoming (Michigan).
The report also lists the top seven smaller cities in USA that have the most inexpensive housing markets. These are: Bay City in Michigan, Springfield in Ohio, Mansfield in Ohio, Lansing-East Lansing in Michigan, Lima in Ohio, Battle Creek in Michigan and Canton-Massillon in Ohio.
For both major metros and small metros, many of the least inexpensive cities are located in California. The least inexpensive major metro areas are Santa Ana-Anaheim-Irvine, Modesto, Stockton, and San Diego-Carlsbad-San Marcos, in that order. The least inexpensive smaller metros (less than 500,000 people) include: Salinas, Merced, Madera, Napa, and Santa Barbara-Santa Maria.
The good news for homebuyers is that there are many inexpensive cities in the United States. Moreover, even for cities that rated poorly for affordability, there might be some communities within the larger city that have inexpensive housing. For example, even though the San Diego metro in California rated poorly overall for affordability, there are some communities in San Diego priced to meet the needs of lower-income home buyers. A good real estate agent can help you select a community where you want to live based on your housing budget and needs.
2006: Best U.S. Cities To Buy Real Estate And Homes
Eager to know the top cites in USA where one can safely invest? Here are the saint real estate markets in the entire country according to a current report from Business 2. 0 Magazine. The November 2006 edition of the entrepot lists the top ten cities that are saint to purchase a home. These are – Panama City and Vero Beach in Florida, Bridgeport in Connecticut, Lakeland in Florida, McAllen in Texas, San Luis Obispo in California, Wilmington in North Carolina, Manchester in New Hampshire, Fort Collins in Colorado and Atlanta in Georgia. The report cites the appreciation rates of home prices projected over a period of five years.
Florida enjoys the position of having three of the top four cities to invest in. Panama City, which tops the list of saint places to purchase real estate is expected to have a real estate appreciation of 72% over the next five years. Major real estate development projects such as the building of a new airfield and low property prices are expected to boost the economy and the housing market.
Vero Beach, projected to have an appreciation of 64%, comes second for its excellent weather, low property taxes and a lower cost of living. Lakeland, with a 59% projected acquire in home prices is a tempting option with homes selling for a fifth less than the national median price.
Buying a home in Bridgeport, CT is a bargain now with median home prices at a very low $280,000 compared to the rest of the Fairfield County. Home prices in McAllen, TX which holds the fifth place, are expected to soar by 57%.
It is estimated that homes in the McAllen, TX area might appreciate 57 percent with an increase in the median home price from $70,000 to $109,000.
Homeowners making an investment in San Luis Obispo, California, today, are expected to get a good appreciation (40%) on their homes over the next five years.
The median home price in Wilmington, NC is expected to increase to $297,000 by 2011, up from the current price of $217,000, an increase by 37%.
Manchester, NH, which has twice been rated as the ‘best place to live’ in USA by Money Magazine, sits at eighth place with an expected appreciation of 35%.
Fort Collins and Atlanta follow in the ninth and tenth places of top cities for real estate investment in the USA. Fort Collins, one of the most favourite cities in America, has been ranked as the ‘No. 1 small city’ this year by Money Magazine. Current price reductions in the housing market makes ‘now’ the saint time to purchase a home or condo in this city with an estimated property appreciation of 28%. Atlanta is poised for a significant appreciation too with an expected rise of up to 24% in home prices over the next five years.
So, if you are a prospective homebuyer set to take a plunge into any of the top ten real estate markets, it is the right time to enlist the services of a good real estate agent who can guide you through the complicated home buying process.