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Seattle home values to increase 14 percentJuly 12, 2012 @ 4:20 pm (Updated: 4:22 pm - 7/12/12 )
Housing prices will likely keep falling for most of the nation, but Seattle is one of five cities that are considered "great investment opportunities."
HousingPredictor.com, which bases its information on from the National Association of Realtors, says the top cities for investment properties are: Miami; San Francisco; Los Altos, California; Seattle; and Medford, Oregon.
"When most people figure out that this really is a great time to buy in some areas of the country, it will be too late to make a really good profit," says Mike Colpitts with HousingPredictor.
"Seattle has weathered the housing downturn better than the majority of the nation, despite a sizable decline in home values."
In the next five years, he expects Seattle home values will increase 14 percent.
That estimate is based in part on the area's technology industry, which pays higher salaries. That's expected to bolster the housing market.
Realtor.com lists roughly 1,800 Seattle homes for sale, from a $60,000 two-bedroom condo to an $18 million waterfront estate.
Seattle-based online real estate company Zillow took a look at recent data to determine markets where sellers have the power and those where buyers are in control.
Home sellers are thriving in the San Francisco, San Jose and Las Vegas metro areas, where price cuts are sparse and homes often sell for at or near their asking price.
On the other end of the spectrum, the Chicago, Milwaukee and Cleveland metros are buyers’ markets, with homes taking longer to sell and buyers averaging discounts of five percent off the asking price.
By LINDA THOMAS
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