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The adage about location, location, and location has always been associated with real estate. This is because local factors always influence the value of a property up for sale.
The recent trend in real estate is the emergence of several luxury homes in areas with strong economic growth and plenty of job opportunities. An example is the increased number of real estate investment in the northern part of Charlotte, N.C., near and around the city’s lakes.
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Due to the upcoming expansion of the state of Oklahoma, neighborhoods around the city of Tulsa had forecast the rise of their homes’ value.
In Scranton, Pennsylvania, houses are expected to rise in value due to the efforts of the mayor to improve its neighborhoods and convert vacant homes into much more saleable empty lots.
The exterior of the house also affects its asking price. In Alabama, where people take pride in their southern heritage, lawns are kept well-manicured and the houses are well-maintained. Prices are expected to steadily grow.
In Texas, builders still show their confidence in the market through the steady inventory of new homes, especially in Edinburg where land is quite inexpensive. However, prices are expected to be more or less the same due to the prevalence of low-paying jobs in the area.
Real estate agents in Florida are expressing confidence over the strength of the local economy and are expecting market stability as result of low interest rates.
In Nevada, however, prices are expected to drop due to rising inventory, with exception of houses near amenities like golf and spa.
California real estate is expected to maintain its tight inventory as population continues to grow.
The recent slump in house prices, however, have affected several states in the country. Due to several layoffs especially in the manufacturing industry, houses in the Midwest area are lowered in value and homes with price tags of more than a million may be discounted just to get it off the market.
If you are looking for value in your real estate investment, it might pay to determine first which localities are considered most ideal. According to a survey done by CNN, the town of Fort Collins in Colorado is chosen as the best town to live in, followed by Naperville, Illinois and Sugar Land, Texas where diverse communities abound. http://www.States-RealEstate.com provides essential resources for buyers, sellers, home owners, real estate professionals, real estate investors, or any one seeking to connect with the world of real estate.