Coldwell Banker Annual Study Finds $1.1 Million Variance For Same Property In Nation's Most Expensive And Most Affordable Markets.Real Estate & Personal Finance Editors PARSIPPANY, N.J.--(BUSINESS WIRE)--July 31, 2001 Price Evaluations in Over 300 Markets Further Suggests Home Sales Are Supporting Economy from Steeper Decline Coldwell Coldwell may refer to:
HPCI Home Price Comparison Index HPCI High Performance Computing Initiative HPCI Harmonized Programmable Communications Interface ) which indicates that there is a $1,106,000 price difference between the most expensive market, Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , CA ($1,225,000) and the most affordable market, Minot Minot (mī`nät), city (1990 pop. 34,544), seat of Ward co., NW N.Dak., on the Souris River; inc. 1887. It is a commercial and transportation center for an extensive agricultural, lignite-mining, and oil-producing region. , ND. ($119,000). The HPCI study evaluates and indexes the average sales price of similar homes in typical middle management transferee neighborhoods in more than 300 markets across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and internationally. The full study can be found on www.coldwellbanker.com within the `seller section resource center'. Residential real estate continues to be a healthy segment of the economy, as existing and new home sales New Home Sales An economic indicator that measures sales of newly built homes. Released by the U.S. Department of Commerce's Census Bureau, it includes both quantity and price statistics. figures have remained relatively strong throughout the first half of the year. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Coldwell Banker 2001 HPCI, the average price of the study's subject home in the US is $269,241, and out of 307 markets surveyed, 74 percent showed a price increase from last year. The subject home is defined as a 2,200-square-foot, single-family sin·gle-fam·i·ly adj. Relating to or being a dwelling designed for one family only: a single-family home; single-family occupancy. dwelling dwelling an abnormality of gait in a horse in which there is a momentary hesitation before the foot is placed on the ground. with four bedrooms, two and one-half baths, a family room and a two-car garage in a typical, middle-management transferee neighborhood. Recently, factors such as stable interest rates and thriving thrive intr.v. thrived or throve , thrived or thriv·en , thriv·ing, thrives 1. To make steady progress; prosper. 2. regional and local economies have encouraged relocation RELOCATION, Scotch law, contracts. To let again to renew a lease, is called a relocation. 2. When a tenant holds over after the expiration of his lease, with the consent of his landlord, this will amount to a relocation. to another market despite the economic slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. . Many factors such as differing salary, cost of living, taxes and housing prices affect what the same dollar can buy in different parts of the country. This year's HPCI reveals that 8 of the country's 10 most expensive markets are in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). and 4 of the 10 most affordable are within the Midwest Midwest or Middle West, region of the United States centered on the western Great Lakes and the upper-middle Mississippi valley. It is a somewhat imprecise term that has been applied to the northern section of the land between the Appalachians . According to the HPCI, the Western region of the United States has the highest cumulative average price for the subject home(a), $347,404, followed by the Northeast, $301,421, the Southeast, $199,643 and the Midwest, $192,997. The average price of all homes surveyed nationally is $269,241, up from $244,600 in last year's survey. The American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of cities/areas that came closest to the cumulative HPCI markets' national average sales price are: Grass Valley, CA, $268,487 and Montgomery County Montgomery County may refer to:
In Zoning law, an official permit to use property in a manner that departs from the way in which other property in the same locality with just $50 separating the most expensive (Tulsa Tulsa (tŭl`sə), city (1990 pop. 367,302), seat of Tulsa co., NE Okla., on the Arkansas River east of its junction with the Cimarron; inc. 1898. : $134,275) and most affordable (Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm : $134,225) markets and California has the greatest, $1,023,925 between Palo Alto: $1,225,000 and Bakersfield Bakersfield, city (1990 pop. 174,820), seat of Kern co., S central Calif., at the southern end of the San Joaquin valley; inc. 1898. It is an oil, mining, and agricultural center and one of the fastest-growing U.S. cities. : $201,075. The methodology used to compile To translate a program written in a high-level programming language into machine language. See compiler. the data included the surveying of hundreds of Coldwell Banker offices throughout the HPCI's corresponding U.S. and international markets. Using the HPCI's indexing formula, consumers can calculate what their own home could be worth in another city. The HPCI thus provides preliminary guidance for the affordability of housing within a market to aid a transferee's decision process. An online HPCI calculator calculator or calculating machine, device for performing numerical computations; it may be mechanical, electromechanical, or electronic. The electronic computer is also a calculator but performs other functions as well. function can be found at www.coldwellbanker.com within the `seller section resource center', which provides the possible home values automatically. The Home Price Comparison Index is also available in a brochure format through participating Coldwell Banker offices. What would a house in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , cost in California's Monterey Peninsula The Monterey Peninsula in central California comprises the cities of Monterey, Carmel, Pacific Grove, some unincorporated area of Monterey County and the private community of Pebble Beach. ? The HPCI's standard statistics indexing formula provides an answer: Multiply mul·ti·ply v. 1. To increase the amount, number, or degree of. 2. To breed or propagate. the market value of your current home by the index number of the destination city where you plan to move. Then, divide that number by the index number of the market where your current home is located. For example, if your home costs $150,000, multiply by the HPCI index number for Monterey Peninsula, which is 261. Take that number and divide by the index number for Houston (in this case, index number 55). Therefore, if you live in a $150,000 home in Houston, the HPCI value of your home would be approximately $711,818 in Monterey Peninsula, Calif., area.
Regionally, the most expensive and most affordable markets are:
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MOST EXPENSIVE MOST AFFORDABLE
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West Palo Alto, California - $1,225,000 Billings, Montana
- $129,125
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Northeast Darien, Connecticut- $812,500 Lewiston/Bangor, Maine
- $129,600
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Midwest Deerfield, Illinois- $461,000 Minot, North Dakota
- $119,000
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Southeast Key West, Florida-$619,750 Columbus, Georgia
- $136,050
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Canada Toronto, Ontario-$514,000 Moncton, New Brunswick
- $141,475
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The top 10 most expensive and most affordable markets overall are:
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MOST EXPENSIVE MOST AFFORDABLE
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Palo Alto, California- $1,225,000 Minot, South Dakota- $119,000
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San Mateo, California- $993,000 Eau Claire, Wisconsin- $120,000
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San Francisco, California- $911,250 Fort Wayne, Indiana- $127,975
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Beverly Hills, California- $856,125 Billings, Montana- $129,125
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La Jolla, California- $844,250 Lewiston/Bangor, Maine-$129,600
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Darien, Connecticut- $812,500 Killeen, Texas- $130,750
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Manhattan Beach, California- $812,000 Lubbock, Texas- $130,816
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Greenwich, Connecticut- $784,333 Helena, Montana- $131,475
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Fremont, California- $718,750 Yankton, South Dakota- $133,850
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Wellesley, Massachusetts- $708,667 Oklahoma City, Oklahoma-$134,225
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The most expensive and most affordable markets within each state
in the United States are:
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State Most 2001 Avg. Most Affordable 2001 Avg. Variance
Expensive Sales Price Sales Price
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ALABAMA Huntsville $175,900 Mobile $164,913 $10,988
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ALASKA Juneau $233,833 Fairbanks $213,330 $20,503
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ARIZONA Scottsdale $245,666 Mesa $173,000 $72,666
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ARKANSAS Little Rock $179,950 Fort Smith $143,725 $36,225
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CALIFORNIA Palo Alto $1,225,000 Bakersfield $201,075 $1,023,925
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COLORADO Denver $242,000 Colorado
Springs $147,225 $94,775
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CONNECTICUT Darien $812,500 Litchfield
County/Torrington $175,750 $636,750
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DELAWARE Wilmington $247,225
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FLORIDA Key West $619,750 Tampa $145,233 $474,517
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GEORGIA Atlanta $260,000 Columbus $136,050 $123,950
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HAWAII Kailua Kona $532,500 Honolulu $442,250 $90,250
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IDAHO Boise $173,950 Coeur d'Alene $169,862 $4,088
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ILLINOIS Deerfield $461,000 Barrington $145,000 $316,000
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INDIANA Munster $195,000 Fort Wayne $127,975 $67,025
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IOWA Des Moines $194,168 Sioux City $138,000 $56,168
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KANSAS Lawrence $218,048 Topeka/
Shawnee County $138,925 $79,123
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KENTUCKY Northern
Kentucky $206,991 Lexington $186,675 $20,316
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LOUISIANA New Orleans $232,800 Baton Rouge $157,200 $75,600
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MAINE Portland $227,350 Lewiston/Bangor $129,600 $97,750
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MARYLAND Metro
Washington $453,250 Hagerstown $179,500 $273,500
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MASSACHUSETTS Wellesley $708,667 Greater
Springfield $216,900 $491,767
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MICHIGAN Detroit
Metro $288,700 Traverse City $232,500 $56,200
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MINNESOTA Edina $289,900 Moorhead/
Clay County $153,531 $136,369
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MISSISSIPPI Jackson $194,375 Tupelo $167,500 $26,875
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MISSOURI Kansas City $186,850 Springfield $146,250 $40,600
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MONTANA Bozeman $253,498 Billings $129,125 $124,373
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NEBRASKA Fremont $163,225 Kearney $145,225 $18,000
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NEVADA Reno/Sparks $238,225 Las Vegas $178,000 $60,225
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NEW
HAMPSHIRE Portsmouth $373,300 Nashua/
Manchester $278,375 $94,925
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NEW JERSEY Westfield $526,300 Atlantic County $171,100 $355,200
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NEW MEXICO Albuquerque $197,875
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NEW YORK Briarcliff
Manor $483,475 Binghamton $143,600 $339,875
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NORTH
CAROLINA Asheville $205,450 Fayetteville $146,100 $59,350
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NORTH
DAKOTA Fargo $168,876 Minot $119,000 $49,876
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OHIO Toledo $217,468 Harrison $143,000 $74,468
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OKLAHOMA Tulsa $134,275 Oklahoma City $134,225 $50
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OREGON Portland $258,600 Eugene $200,500 $58,100
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PENNSYLVANIA Chester
County $312,000 Stroudsburg/
Poconos $143,800 $168,200
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PUERTO
RICO Puerto Rico $273,000
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RHODE
ISLAND Providence $263,433
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SOUTH
CAROLINA Columbia $168,300 Greenville $144,115 $24,185
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SOUTH
DAKOTA Sioux Falls $171,850 Yankton $133,850 $38,000
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TENNESSEE Nashville $190,190 Knoxville $139,950 $50,240
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TEXAS Austin $240,012 Killeen $130,750 $109,262
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UTAH Salt
Lake City $275,000 Provo $169,625 $105,375
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VERMONT Burlington $251,100 Montpelier $197,250 $53,850
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VIRGINIA Lynchburg $208,225 Norfolk/
Virginia Beach $162,750 $45,475
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WASHINGTON Bellevue $412,000 Spokane $148,412 $263,588
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WEST
VIRGINIA Charleston $177,000 Beckley $146,983 $30,017
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WISCONSIN Milwaukee $221,625 Eau Claire $120,000 $101,625
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WYOMING Cheyenne $176,350
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"Only a few decades ago mortgage-burning parties were commonplace - signifying Signifyin' (slang) is an African-American rhetorical device featuring indirect communication or persuasion and the creating of new meanings for old words and signs. Signifying, in this sense, includes repetition and difference, implication and association, combining words and the end of a homeowner's 30-year commitment, but in today's migratory migratory /mi·gra·to·ry/ (mi´grah-tor?e) 1. roving or wandering. 2. of, pertaining to, or characterized by migration; undergoing periodic migration. migratory emanating from or pertaining to migration. society families generally live in a home for about four to seven years before moving on," said Alex Perriello, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Coldwell Banker Real Estate Corporation. "Our outlook on the real estate market is strong over the next five to ten years due to the steady rise in corporate relocation, sharp jump in single parent families and the baby-boom generation is achieving prime homebuying age, meaning they are supporting the "move up" and second home markets. Finally, the 2000 U.S. Census showed an increase in population of about 30 million, including recent immigrants whom are buying homes as they realize the "American Dream American dream also American Dream n. An American ideal of a happy and successful life to which all may aspire: ". Perriello added, "this increase in real estate spending is compound when you consider that for every dollar spent on home purchases, another 20 to 50 cents is spent on things like furnishings furnishings the extra type or quantity of hair on the head, tail, ears or legs, specified for a particular breed. For example, the feathers in setters, the beard in Bearded collies, the eyebrows in Schnauzers. , landscaping and improvements. Overall, the housing sector accounts for about 14 percent of the U.S. economy and, on average, consumers spend about 40 percent of their income on housing and related costs. All of these factors help support our belief that the real estate market is one of the few bright spots in today's slowing economy." For 94 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Coldwell Banker(R) organization has been the premier provider of full-service real estate. Coldwell Banker Real Estate Corporation, a subsidiary of Cendant Corporation (NYSE NYSE See: New York Stock Exchange : CD), has more than 3,000 independently owned and operated residential and commercial real estate offices with over 72,000 Sales Associates globally. The company is an industry leader in residential real estate, and in niche markets A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. such as resort, new homes and luxury properties through its Previews(R) division. The company is a pioneer in consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, with its Coldwell Banker Conciergesm program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Commercial(R) is one of the largest commercial franchise operations with over 400 affiliates offering clients comprehensive buying, selling, leasing, acquisition, disposition and management services. (a) 2,220 square feet was the baseline The horizontal line to which the bottoms of lowercase characters (without descenders) are aligned. See typeface. baseline - released version figure used as size criteria for the HPCI subject homes. However, it is possible that in certain markets, the size of the subject homes varied. ---------------------------------------------------------------------- ATTN ATTN Attention ATTN Atentamente (Spanish) ATTN A l'attention de (French: Care of) JOURNALISTS: HPCI SUBJECT HOME PHOTOS AVAILABLE ON PHOTOWIRE OR CONTACT DAN DAVENPORT Davenport, city (1990 pop. 95,333), seat of Scott co., E central Iowa, on the Mississippi River; inc. 1836. Bridges connect it with the Illinois cities of Rock Island and Moline; the three communities and neighboring Bettendorf, Iowa, are known as the Quad Cities. AT (973) 496-5590. ---------------------------------------------------------------------- |
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