Home Price Comparison Index Reveals $870,597 Variance for Same Property in Nation's Most Affordable and Most Expensive Markets.Business Editors PARSIPPANY, N.J.--(BUSINESS WIRE)--JULY 25, 2000 Coldwell Coldwell may refer to:
Over 300 Markets and Allows Consumers to Determine Cost of Their Home in Other Markets Coldwell Banker Real Estate Corporation (Coldwell Banker(R)) today released its 2000 Home Price Comparison Index (HPCI HPCI High Pressure Coolant Injection (nuclear power) HPCI Home Price Comparison Index HPCI High Performance Computing Initiative HPCI Harmonized Programmable Communications Interface ) which indicates that there is a $870,597 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 ($974,237) and the most affordable market, Mt. Pleasant, MI. ($103,640). 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. , Canada and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . The full study can be found on www.coldwellbanker.com. 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 which provides the possible home values automatically. The Home Price Comparison Index is also available in a brochure format through participating Coldwell Banker offices. In the past few years, a hot job market, strong economy and the impact of technology have encouraged people considering relocating to another market. 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 eight 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 seven of the 10 most affordable are within the Midwest. 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 HPCI, the Western region of the United States has the highest cumulative average price for the subject home(a), $313,733, followed by the Northeast, $272,716, the Midwest, $181,984, and the Southeast, $176,640. The average price of all homes surveyed nationally is $244,600. The American cities/areas that came closest to the cumulative HPCI markets' national average sales price are Denver, Colo.; Detroit, Mich.; Fossmoor, Ill.; and Anne Arundel County, Md. Utah has the least variance The discrepancy between what a party to a lawsuit alleges will be proved in pleadings and what the party actually proves at trial. 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 ($2,438) between the most affordable (Salt Lake City: $163,362) and most expensive (Provo: $165,800) markets and California has the greatest ($802,500) between Bakersfield: $171,737 and Palo Alto: $974,237. 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 Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. markets. The "subject home(a)" that the HPCI was based on included the following criteria: a 2,200-square-foot, single-family 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. 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 Hollywood Hills The Hollywood Hills, an unofficial designation of part of the City of Los Angeles, California, are part of the eastern section of the low transverse range of the Santa Monica Mountains, which extends from the Los Feliz District and Hollywood, on the south side of the Valley, to ? 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 Hollywood Hills, which is 271. Take that number and divide by the index number for Houston (in this case, index number 80). Therefore, if you live in a $150,000 home in Houston, the HPCI value of your home would be approximately $508,125 in the Hollywood Hills, Calif., area. Regionally, the most expensive and most affordable markets are:
MOST EXPENSIVE
West Palo Alto, California - $974,237
Northeast Greenwich, Connecticut - $706,500
Midwest Barrington, Illinois - $449,411
Southeast Miami, Florida - $273,626
Canada British Columbia, Vancouver - $250,340
MOST AFFORDABLE
West Helena, Montana - $126,475
Northeast Stroudsburg/Poconos, Pennsylvania - $125,450
Midwest Mt. Pleasant, Michigan - $103,640
Southeast Chattanooga, Tennessee - $132,000
Canada New Brunswick, Moncton - $ 93,084
The top 10 most expensive and most affordable markets overall are:
MOST EXPENSIVE
Palo Alto, California - $974,237
Beverly Hills-North, California - $936,250
San Mateo, California - $873,250
La Jolla, California - $767,500
San Francisco, California - $759,250
Beverly Hills-South, California - $743,375
Greenwich, Connecticut - $706,500
Hollywood Hills, California - $663,375
Wellesley, Massachusetts - $634,783
Fremont, California - $614,472
MOST AFFORDABLE
Mt. Pleasant, Michigan - $103,640
Sioux City, Iowa - $108,000
Eau Claire, Wisconsin - $109,654
Hastings, Nebraska - $117,000
Minot, North Dakota - $124,400
Yankton, South Dakota - $124,750
Stroudsburg/Poconos, Pennsylvania - $125,450
Helena, Montana - $126,475
Fort Wayne, Indiana - $126,725
Tulsa, Oklahoma - $129,950
The most expensive and most affordable markets within each state
in the United States are:
State Most 2000 Avg. Most 2000 Avg. Variance
Affordable Sales Expensive Sales
Price Price
AL Montgomery $140,000 Mobile $163,100 $ 23,100
AK Fairbanks $213,330 Juneau $235,750 $ 22,420
AZ Mesa $166,633 Scottsdale $238,933 $ 72,300
AR Fort Smith $136,750 Little Rock $153,750 $ 17,000
CA Bakersfield $171,737 Palo Alto $974,237 $802,500
CO Colorado Springs $157,900 Denver $244,675 $ 86,775
CT Litchfield County $201,125 Greenwich $706,500 $505,375
DE Wilmington $193,675
FL Pensacola $156,125 Miami $273,626 $117,501
GA Dalton $134,438 Atlanta $237,375 $102,937
HI Honolulu $380,000
ID Coeur d' Alene $164,300 Boise $193,000 $ 28,700
IL Springfield $139,000 Barrington $449,411 $310,411
IN Fort Wayne $126,725 Munster $216,475 $ 89,750
IA Sioux City $108,000 Des Moines $182,075 $ 74,075
KS Topeka/ $132,500 Wichita/ $173,000 $ 40,500
Shawnee County Sedgwick
County
KY Louisville $167,423 Northern $206,990 $ 39,567
Kentucky
LA Shreveport $183,375 New Orleans $205,375 $ 22,000
/Bossier City
ME Bangor $158,000 Portland $199,700 $ 41,700
MD Eastern Shore $155,500 Metro Wash. $398,375 $242,875
(Bethesda)
MA Greater $193,171 Wellesley $634,783 $441,612
Springfield
MI Mt. Pleasant $103,640 Ann Arbor $345,531 $241,891
MN Moorhead
/Clay County $164,300 Lk. Minnetonka/ $313,750 $149,450
W. Suburbs
MS Jackson $161,850 Gulfport $185,700 $ 23,850
/Biloxi
MO Springfield $132,000 St. Louis $192,550 $ 60,550
MT Helena $126,475 Bozeman $209,350 $ 82,875
NE Hastings $117,000 North Platte $152,567 $ 35,567
NV Las Vegas $168,000 Reno/Sparks $224,254 $ 56,254
NH Nashua $190,000 Portsmouth $241,667 $ 51,667
/Manchester
NJ Gloucester County $167,859 Basking Ridge $487,633 $319,774
NM Las Cruces $165,967 Albuquerque $190,800 $ 24,833
NY Binghamton $142,450 Briarcliff $413,000 $270,550
Manor
NC Fayetteville $138,000 Charlotte $180,975 $ 42,975
ND Minot $124,400 Fargo $167,200 $ 42,800
OH Akron $154,000 Cincinnati $214,411 $ 60,411
OK Tulsa $129,950 Oklahoma City $135,125 $ 5,175
OR Salem $187,467 Bend $249,750 $ 62,283
PA Stroudsburg $125,450 Chester $295,875 $157,700
/Poconos County
PR Puerto Rico $268,750
RI Providence $210,000
SC Columbia $159,725 Greenville $176,500 $ 16,775
SD Yankton $124,750 Aberdeen $190,000 $ 65,250
TN Chattanooga $132,000 Nashville $181,133 $ 49,133
TX Lubbock $131,000 Austin $214,462 $ 83,462
UT Salt Lake City $163,362 Provo $165,800 $ 2,438
VT Rutland $201,333 Burlington $226,125 $ 24,792
VA Norfolk $157,124 Northern VA $295,125 $138,001
/Virginia Beach /Fairfax County
WA Spokane $163,962 Bellevue $395,912 $231,950
WV Parkersburg $160,575 Charleston $189,000 $ 28,425
WI Eau Claire $109,654 Madison $204,725 $ 95,071
WY Cheyenne $175,250
"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 only 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. "With corporate 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. consistent, and technology making the world smaller, people can also expect to call different areas of the global village home at one time or another. Therefore it is very important to understand the home prices within an area before accepting a job or committing to live there". For 93 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 that is part of the www.move.com network of relocation, real estate and home-related services. 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) 2,200 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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