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<generator>Blogsmith http://www.blogsmith.com/</generator><item><title>Cities With The Most Homes in Foreclosure</title><link>http://realestate.aol.com/blog/2012/05/25/cities-with-the-most-homes-in-foreclosure/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2012/05/25/cities-with-the-most-homes-in-foreclosure/</guid><comments>http://realestate.aol.com/blog/2012/05/25/cities-with-the-most-homes-in-foreclosure/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/foreclosures/" rel="tag">Foreclosures</a></p><p>
	<a href="http://www.flickr.com/photos/ifmuth/2671951937/sizes/s/in/photostream/" target="_blank"><img alt="Downtown Naperville, IL by Ian Freimuth, Flickr.com" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2012/05/downtown-naperville--600cs052412.jpg" style="border-width: 0px; border-style: solid; margin: 4px;" /></a><br />
	<strong>By Michael B. Sauter</strong><br />
	<br />
	According to data released last week, the worst effects of the housing crisis are beginning to wind down. RealtyTrac's latest report shows the number of foreclosures in the U.S. in April is down 13 percent, to 188,780 from 219,258 a year ago. However, some of the largest cities in the U.S. continue to lag behind the rest of the country and still have long way to go before the housing crash has fully run its course.</p>
<p>
	RealtyTrac published the number of new home foreclosures in April in the 50 largest metropolitan statistical areas in the U.S. Of those 50 areas, 10 had more than double the national foreclosure rate --one out of every 698 new homes. In California's Inland Empire metro area, the rate was more than triple that.<br />
	<br />
	Using RealtyTrac's foreclosure rates and and home price data from Fiserv Case-Shiller, 24/7 Wall St. reviewed the 10 metropolitan areas with the highest foreclosure rates.</p>
<p>
	According to Trulia's chief economist, Jed Kolko, while the overall decline in home prices is the major underlying force behind these areas' high foreclosure rates, whether foreclosures are increasing or decreasing is also a function of the state's legal system. Florida, for example, has a lengthy foreclosure process that involves the courts, while Nevada's process is much shorter and non-judicial. As a result, Florida is much farther behind in liquidating its foreclosure inventory.</p>
<p>
	These are the 10 U.S. cities with the most homes in foreclosure.<br />
	<br />
	%Gallery-156057%</p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2012/05/25/cities-with-the-most-homes-in-foreclosure/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20244659/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2012/05/25/cities-with-the-most-homes-in-foreclosure/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>cities with the most foreclosures</category><category>Finance</category><category>foreclosure cities</category><category>Inland Empire</category><category>ReatyTrac foreclosures</category><category>Trulia</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2012-05-25T13:25:00 00:00</dc:date></item><item><title>6 Cities Where Rents Are Skyrocketing</title><link>http://realestate.aol.com/blog/2012/05/07/6-cities-where-rents-are-skyrocketing/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2012/05/07/6-cities-where-rents-are-skyrocketing/</guid><comments>http://realestate.aol.com/blog/2012/05/07/6-cities-where-rents-are-skyrocketing/#comments</comments><description><![CDATA[<a href="http://www.flickr.com/photos/houseofhall/6000924972/sizes/s/in/photostream/" target="_blank"><img alt="Colorado Springs" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2012/05/colorado-springs-600cs050412.jpg" style="border-width: 0px; border-style: solid; margin: 4px;" /></a><br />
	<br />
	<strong>By Michael B. Sauter</strong><br />
	<br />
	Online real estate site <a href="http://www.trulia.com/">Trulia</a> recently released rental <a class="itxtrst itxtrsta itxthook" href="http://247wallst.com/2012/05/04/six-cities-where-rents-are-skyrocketing/#" id="itxthook0" rel="nofollow" style="font-weight: normal; font-size: 100%; text-decoration: underline; border-bottom: 0.075em solid darkgreen; padding-bottom: 1px; color: darkgreen; background-color: transparent;"><span class="itxtrst itxtrstspan itxthookspan" id="itxthook0w0" style="background:transparent; font-size:inherit; font-weight:inherit; color:darkgreen;">data</span></a> for the 100 largest housing markets in the country. The report showed that while home prices have increased slightly in the past year, rent prices have increased more than 5 percent in the 12 months ending April 31, 2012.<br />
	<br />
	In six of the 100 markets, asking rent has increased by 10 percent or more. 24/7 Wall St. examined these six cities, which are located all over the country, to determine why rents have increased so much there.<br />
	<br />
	24/7 Wall St. spoke to Trulia's chief economist, Jed Kolko, who gave several possible explanations for the rents' increases. First, he said, housing prices in many of these areas did not drop much during the recession, making them less attractive to buyers.<br />
	<br />
	As evidence, home prices in four of these cities fell less than the average for the 100 cities. In Indianapolis, housing prices declined just 6.6 percent from their peak, the second-smallest decline in the United States. Instead of buying homes, Kolko explained, people moving into these areas have chosen to rent, pushing rental prices higher.<br />
	<br />
	%Gallery-154719%<br />
	According to Kolko, the second major factor leading to increased rents in these areas is an influx of new employment to the region. Many of these areas have experienced major growth in their job markets. When new workers move to a region, they are likely to seek rental properties over permanent residences until they know how stable their new jobs are.<br />
	<br />
	This is especially the case following a recession, when new employees are not confident in their job <a class="itxtrst itxtrsta itxthook" href="http://247wallst.com/2012/05/04/six-cities-where-rents-are-skyrocketing/#" id="itxthook1" rel="nofollow" style="font-weight: normal; font-size: 100%; text-decoration: underline; border-bottom: 0.075em solid darkgreen; padding-bottom: 1px; color: darkgreen; background-color: transparent;"><span class="itxtrst itxtrstspan itxthookspan" id="itxthook1w0" style="background:transparent; font-size:inherit; font-weight:inherit; color:darkgreen;">security</span></a>. "If you get a new job, it's not like you go out the next day and buy a house," he said. "You want to make sure that job is stable -- that you've saved up for a down payment -- before you decide to make that home purchase."<br />
	<br />
	Of the six cities on our list, four had employment growth in the past year above the average of the 100 markets. Three were in the top 16 for job growth. In the San Francisco region, where rental prices increased 11.1 percent in the past 12 months, the number of employed people rose nearly 3 percent in the past year.<br />
	<br />
	24/7 Wall St. obtained asking home price and rent values for the 100 largest real estate markets from Trulia for the 12 months ending April 31. Trulia also provided us with declines in home value in these areas from their pre-recession peaks, as well as change in employment in the past year. Also, when applicable, we examined prices and change in inventory for homes, for these markets, as provided by <a href="http://www.realtor.com/">Realtor.com</a>.</p>
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		<strong>See also:</strong><a href="http://realestate.aol.com/blog/2012/04/20/how-to-negotiate-your-rent/" target="_blank" title="View How to Negotiate Your Rent: 4 Key Steps on AOL Real Estate"><br />
		How to Negotiate Your Rent: 4 Key Steps </a><br />
		<span class="150331117-23082010"><span class="150331117-23082010"><a href="http://realestate.aol.com/blog/2010/08/20/neighborhood-hunting-made-easy/">Neighborhood Hunting Made Easy</a><a href="http://realestate.aol.com/blog/2010/06/29/tips-for-finding-a-rental-apartment/" target="_blank"><br />
		Tips for Finding a Rental Apartment</a></span></span><br />
		<br />
		<strong><em>More on AOL </em><a class="inlinked" href="http://realestate.aol.com/"><em>Real Estate</em></a></strong><em><strong>:</strong></em><br />
		<em>Find<a href="http://realestate.aol.com/blog/rentals/" target="_blank"> homes for rent</a> in your area.</em><br />
		<em> Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a><em> payments.<br />
		Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em> in your area.<br />
		Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em> in your area.</em><br />
		<br />
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</div><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2012/05/07/6-cities-where-rents-are-skyrocketing/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20231416/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2012/05/07/6-cities-where-rents-are-skyrocketing/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>cities with high rents</category><category>Colorado Springs rentals</category><category>Edison NJ rentals</category><category>Indianapolis rentals</category><category>Miami rentals</category><category>rental investments</category><category>San Francisco</category><category>skyrocketing rents</category><category>suburban Detroit rentals</category><category>Trulia</category><category>us cities with highest rents</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2012-05-07T12:45:00 00:00</dc:date></item><item><title>13 Ways to Sell Your Home in 2012</title><link>http://realestate.aol.com/blog/2012/04/24/13-ways-to-sell-your-home-in-2012/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2012/04/24/13-ways-to-sell-your-home-in-2012/</guid><comments>http://realestate.aol.com/blog/2012/04/24/13-ways-to-sell-your-home-in-2012/#comments</comments><description><![CDATA[<img alt="Open House" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2012/04/open-house-600cs042412.jpg" style="border-width: 0px; border-style: solid; margin: 4px;" /><br />
<strong>By Douglas A. McIntyre</strong><br />
<div class="entry-content">
	<p>
		The traditional spring-summer homebuying season has begun. The national housing market remains brutal, affected by high inventory, high foreclosure rates and a historically high level of underwater mortgages. Without a doubt, it is a buyer's market. But is there anything sellers can do to get the best price for their house and in the shortest amount of time?</p>
	<p>
		24/7 Wall St. examined the U.S. home market with the help of a number of the leading real estate experts and organizations that track housing trends. We asked them just that: What can sellers do in a housing market that a Case-Shiller report last year described as worse than the Great Depression? All of the experts agreed that there are several concrete actions that can help most sellers.</p>
	<p>
		The home sales environment in the U.S. has changed in two profound ways in the past decade. First, the housing bust, which began in 2006, has depressed home values in some markets well over 50 percent. In these regions, as real estate research firm RealtyTrac reported, more than 1 in 500 homes can be in foreclosure in any given month. In states such as Nevada and Florida, the figures are worse. A foreclosed home often sells for a third less than the price of a house not in foreclosure. And if there are foreclosed homes in their neighborhoods, it is nearly impossible for homeowners selling their houses to get a premium price.</p>
	<p>
		The downward pressure on home values is compounded by the fact that one in five U.S. mortgages is underwater, according to research firm CoreLogic. All of these homes have mortgages with balances greater than the appraised price of the houses themselves. Put together, foreclosures and underwater mortgages make it harder for homeowners in most regions to get anywhere close to what their homes were worth five years ago.</p>
	<p>
		The other profound difference in the homebuying market is the presence of the Internet. Twenty years ago, buyers had few tools to sort through the available houses before visiting them in person. Now, according to Elizabeth Blakeslee, an associate <a class="itxtrst itxtrsta itxthook" href="http://247wallst.com/2012/04/24/thirteen-ways-to-sell-your-home-in-2012/#" id="itxthook0" rel="nofollow" style="font-weight: normal; font-size: 100%; text-decoration: underline; border-bottom: 0.075em solid darkgreen; padding-bottom: 1px; color: darkgreen; background-color: transparent;"><span class="itxtrst itxtrstspan itxthookspan" id="itxthook0w0" style="background:transparent; font-size:inherit; font-weight:inherit; color:darkgreen;">broker</span></a> with Coldwell Banker in Washington DC, 70 percent to 80 percent of buyers look at homes online before they visit a house. The figure is much higher in cases when people are relocating from one part of the country to another. The ability to present a home well online and achieve maximum penetration on the different real estate sites has become of paramount importance - expertise that a good broker has.</p>
	<p>
		Despite the changes, our research shows that some aspects of successful home sales have not changed at all. Homes with "curb appeal" -- the impression a buyer gets before reaching the front door -- tend to sell better than houses with poor landscaping and exteriors. An excellent real estate agent is by far the best consultant for setting price and preparing a house for sale. Getting a house appraised helps in setting a price that a bank is likely to accept when the buyer applies for a mortgage. Getting the house inspected before the sales process begins allows the seller to identify potential impediments to a sale.</p>
	<p>
		24/7 Wall St. identified the 13 actions homeowners should take to increase the chance of selling their homes, regardless of where the homes are located. Obviously, a seller in a market in which houses are moving quickly and at premium prices has a better chance to sell a home. But these pieces of advice apply to slow, troubled markets as well as to the hot ones.</p>
	<p>
		In order to identify these best practices, 24/7 Wall St. interviewed real estate experts from Trulia, Zillow, Realtor.com and Coldwell Banker and reviewed the most recent housing data from S&amp;P/Case-Shiller, Corelogic, Fiserv and RealtyTrac.<br />
		<br />
		%Gallery-153980%<br />
		<strong>More From 24/7 Wall St.</strong><br />
		<span style="color:#008000;"><strong><a href="http://247wallst.com/2012/04/23/the-most-popular-plastic-surgeries-in-america/">The Most Popular Plastic Surgeries in America</a></strong></span><br />
		<span style="color:#008000;"><strong><a href="http://247wallst.com/2012/04/17/the-ten-most-and-least-affordable-cities-to-buy-a-home/">The 10 Most (and Least) Affordable Cities to Buy a Home</a></strong></span><br />
		<span style="color: rgb(0, 128, 0); "><strong><a href="http://247wallst.com/2012/04/19/eight-products-the-facebook-generation-will-not-buy/">Eight Products the Facebook Generation Will Not Buy</a></strong></span><br />
		<span style="color: rgb(0, 128, 0); "><strong><a href="http://247wallst.com/2012/04/04/best-american-cities-for-business/">The Best American Cities for Business</a></strong></span><br />
		<a href="http://247wallst.com/2012/03/21/cities-where-people-cant-afford-their-rent/"><span style="color: rgb(0, 128, 0); "><strong>Cities Where People Can't Afford Rent</strong></span></a></p>
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			<br />
			<strong style="color: rgb(51, 51, 51); "><em>More on AOL </em><a class="inlinked" href="http://realestate.aol.com/"><em>Real Estate</em></a></strong><em style="color: rgb(51, 51, 51); "><strong>:</strong><br />
			Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a><em style="color: rgb(51, 51, 51); "> payments.<br />
			Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em style="color: rgb(51, 51, 51); "> in your area.<br />
			Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em style="color: rgb(51, 51, 51); "> in your area.</em><br style="color: rgb(51, 51, 51); " />
			<em style="color: rgb(51, 51, 51); ">See <a href="http://realestate.aol.com/blog/tag/celebrity+real+estate/" target="_blank">celebrity real estate</a></em><span style="color: rgb(51, 51, 51); ">.</span><br />
			<br />
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			<script type="text/javascript" src="http://pshared.5min.com/Scripts/PlayerSeed.js?playList=517201524&amp;height=411&amp;width=570&amp;sid=577&amp;relatedMode=2&amp;relatedBottomHeight=60&amp;companionPos=&amp;hasCompanion=false&amp;autoStart=false&amp;colorPallet=%23FFEB00&amp;vcdBgColor=%23191919&amp;shuffle=0&amp;continuous=true"></script><img alt="How to Sell a House Fast" id="fivemin-widget-blogsmith-image-869978" src="http://pthumbnails.5min.com/10344031/517201524_c_570_411.jpg" /><script type="text/javascript">try{document.getElementById("fivemin-widget-blogsmith-image-869978").style.display="none";}catch(e){}</script></div>
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</div><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2012/04/24/13-ways-to-sell-your-home-in-2012/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20222751/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2012/04/24/13-ways-to-sell-your-home-in-2012/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>home seller advice</category><category>how to sell a home now</category><category>selling real estate in recession</category><category>selling your home in a down market</category><category>spring summer homebuying season</category><category>tips for home selling</category><category>ways to sell your home</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2012-04-24T13:42:00 00:00</dc:date></item><item><title>America's Most and Least Affordable Cities to Buy a Home</title><link>http://realestate.aol.com/blog/2012/04/23/americas-most-and-least-affordable-cities-to-buy-a-home/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2012/04/23/americas-most-and-least-affordable-cities-to-buy-a-home/</guid><comments>http://realestate.aol.com/blog/2012/04/23/americas-most-and-least-affordable-cities-to-buy-a-home/#comments</comments><description><![CDATA[<p>
	<img alt="homes in Hawaii" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2012/04/home-prices-per-square-foot-600cs042312.jpg" style="border-width: 0px; border-style: solid; margin: 4px;" /><br />
	<br />
	<strong>By Michael B. Sauter</strong><br />
	<br />
	After years of weak housing markets, home sellers are hopeful that this spring's homebuying season will finally lift prices. In positive news, RealtyTrac reported in March that national foreclosures fell to their lowest levels in five years. Unfortunately, the number of homes that received first-time foreclosure notices also rose 7 percent in March from the previous month, the third consecutive increase this year.</p>
<p>
	Like national housing data, the cost to buy a home varies considerably across the country. Working with online real estate listing database <span style="color:#008000;"><strong><a href="http://www.realtor.com/"><span style="color:#008000;">Realtor.com</span></a></strong></span>, 24/7 Wall St. identified the housing markets with the highest and lowest prices per square foot.</p>
<p>
	In general, the cities with the lowest real estate prices per square foot were cities that have suffered from poor economic conditions for some time. Many of these cities have begun to see interest from potential homeowners and <a class="itxtrst itxtrsta itxthook" href="http://247wallst.com/2012/04/17/the-ten-most-and-least-affordable-cities-to-buy-a-home/#" id="itxthook0" rel="nofollow" style="font-weight: normal; font-size: 100%; text-decoration: underline; border-bottom: 0.075em solid darkgreen; padding-bottom: 1px; color: darkgreen; background-color: transparent;"><span class="itxtrst itxtrstspan itxthookspan" id="itxthook0w0" style="background:transparent; font-size:inherit; font-weight:inherit; color:darkgreen;">investors</span></a>. Others, however, continue to flounder.</p>
<p>
	The cities with high costs per square foot, for the most part, have wealthier residents. Five of the 10 most expensive cities are also in the top 10 for median income. Five of the least expensive are in the bottom 20 for median income.</p>
<p>
	Not surprisingly, Detroit's cost per square foot of $62.45 was the lowest. <a href="http://realestate.aol.com/homes-for-sale-listings/San-Francisco_CA" target="_blank">San Francisco</a>'s cost per square foot of $420.99 was the highest.</p>
<p>
	A few of the markets with the lowest prices per square feet experienced large declines in home values during the recession. For the most part, however, these are former industrial centers that have been on the decline for years. They include <a href="http://realestate.aol.com/homes-for-sale-listings/Detroit_MI" target="_blank">Detroit,</a> <a href="http://realestate.aol.com/homes-for-sale-listings/Toledo_OH" target="_blank">Toledo</a> and <a href="http://realestate.aol.com/homes-for-sale-listings/Wichita_KS" target="_blank">Wichita</a>.</p>
<p>
	As would be expected, the cities with the highest and lowest costs per square foot also have the highest and lowest overall median home prices, respectively. Nine of the 10 metro regions with the lowest cost per square foot are among the 15 regions with the lowest median listing price.</p>
<p>
	24/7 Wall St. relied on Realtor.com's February figures for the 146 largest metropolitan statistical areas in the country for median listing price and median square footage to calculate the median price per square foot for each MSA. Realtor.com also provided the number of available listings and the number of online property searches for each MSA in February.</p>
%Gallery-153842%<br />
<strong>See also:</strong><a href="http://realestate.aol.com/blog/2012/04/10/homebuying-5-key-steps-to-your-1st-real-estate-purchase/" target="_blank" title="View Homebuying: 5 Key Steps to Your 1st Real Estate Purchase on AOL Real Estate"><br />
Homebuying: 5 Key Steps to Your 1st Real Estate Purchase</a><br />
<a href="http://realestate.aol.com/blog/2012/04/17/fair-housing-group-sues-u-s-bank-over-foreclosures/" target="_blank" title="View Fair Housing Group Sues U.S. Bank Over Foreclosures on AOL Real Estate">Fair Housing Group Sues U.S. Bank Over Foreclosures </a><br />
<a href="http://realestate.aol.com/blog/2012/04/16/nahb-housing-market-index-shows-drop-in-builder-confidence/" target="_blank" title="View NAHB Housing Market Index Shows Drop in Builder Confidence on AOL Real Estate">NAHB Housing Market Index Shows Drop in Builder Confidence</a><br />
<br />
<strong><em>More on AOL </em><a class="inlinked" href="http://realestate.aol.com/"><em>Real Estate</em></a></strong><em><strong>:</strong><br />
Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a><em> payments.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em> in your area.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em> in your area.</em><br />
<em>See <a href="http://realestate.aol.com/blog/tag/celebrity+real+estate/" target="_blank">celebrity real estate</a></em>.<br />
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<script type="text/javascript" src="http://pshared.5min.com/Scripts/PlayerSeed.js?playList=34799581&amp;height=411&amp;width=570&amp;sid=577&amp;relatedMode=2&amp;relatedBottomHeight=60&amp;companionPos=&amp;hasCompanion=false&amp;autoStart=false&amp;colorPallet=%23FFEB00&amp;vcdBgColor=%23191919&amp;shuffle=0&amp;continuous=true"></script><img alt="Real Estate Considerations" id="fivemin-widget-blogsmith-image-515188" src="http://pthumbnails.5min.com/695992/34799581_c_570_411.jpg" /><script type="text/javascript">try{document.getElementById("fivemin-widget-blogsmith-image-515188").style.display="none";}catch(e){}</script><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2012/04/23/americas-most-and-least-affordable-cities-to-buy-a-home/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20220860/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2012/04/23/americas-most-and-least-affordable-cities-to-buy-a-home/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>americas most and least affordable cities</category><category>Detroit real estate</category><category>Fort Wayne real estate</category><category>Honolulu real estate</category><category>Indianapolis real estate</category><category>jersey city real estate</category><category>San Francisco real estate</category><category>San Jose real estate</category><category>Toledo real estate</category><category>Wichita real estate</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2012-04-23T11:50:00 00:00</dc:date></item><item><title>Best Cities for Sports Fans</title><link>http://realestate.aol.com/blog/2012/02/02/best-cities-for-sports-fans-new-england-new-york/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2012/02/02/best-cities-for-sports-fans-new-england-new-york/</guid><comments>http://realestate.aol.com/blog/2012/02/02/best-cities-for-sports-fans-new-england-new-york/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a>,<a href="http://realestate.aol.com/blog/category/lifestyle/" rel="tag">Lifestyle</a>,<a href="http://realestate.aol.com/blog/category/other/" rel="tag">Other</a></p><img border="1" hspace="4" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2012/02/superbowlfootball.2188e4a17bc34b30835a7ca08fb5c9bd.jpg" vspace="4" /><br />
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Not all cities are created equal, and some cities are certainly better than others when it comes to sports. The more major league sports teams a city has, the more a it has to offer to those who love the game. Additionally, the more successful a team, the happier its fans become. With this in mind, 24/7 Wall St. set out to identify the best cities for sports fans.<br />
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In order to decide which cities have the luckiest fans, we started with those that have at least two professional teams in or near the city. We then ranked each city based on the number of teams it has and the total number of sports the teams represented. We also factored in the popularity of the teams -- based on attendance and change in attendance -- the win-loss records of the teams in each city, and the number of championships each team won. (Click the gallery below.)<br />
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A good city for sports fans has to have lots of teams. And not just the number of teams matters, but also the diversity of sports they represent. A city has to have at least one team in each of the four major sports: hockey, baseball, football, and basketball. A city like Chicago, which has at least one team in each sport, is ranked higher than Los Angeles, which also has 6 sports franchises, but doesn't have an NFL team.<br />
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Arguably, nothing is more important to sports fans than winning. 24/7 awarded points to a city for each team that had a win-loss in the top 50 percent of its league. The New England Patriots earn Boston a point for having won three games for every one it lost over the last 10 seasons. Neither of New York's two basketball teams -- the Nets nor Knicks -- earned a point in this category, because their 10-season records are in the bottom half compared to the rest of the NBA. We also awarded points for each championship won by a team in the past 10 years.<br />
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Finally, a good community of fans is also necessary. We awarded points for cities where home game attendance increased significantly in the past 10 years. The Detroit Tigers, whose annual home attendance increase by more than 1 million fans between 2002 and 2011, earned a point. On the other hand, the St. Louis Cardinals' attendance declined, not earning the city a point, despite the fact that attendance in 2011 was higher than in Detroit. A city also ranked better if teams regularly sold at or above capacity over the course of the year.<br />
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<strong>More from 24/7 Wall St:</strong><br />
<a href="http://247wallst.com/2012/01/27/ten-cities-crushed-by-the-global-recession/" target="_blank">10 Cities Crushed by the Global Recession</a><br />
<a href="http://247wallst.com/2012/02/01/the-eight-brands-that-wasted-the-most-on-the-super-bowl/" target="_blank">Eight Brands that Wasted the Most on the Super Bowl</a><br />
<a href="http://247wallst.com/2012/01/31/the-10-most-educated-countries-in-the-world/" target="_blank">The 10 Most Educated Countries in the World</a><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2012/02/02/best-cities-for-sports-fans-new-england-new-york/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20161281/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2012/02/02/best-cities-for-sports-fans-new-england-new-york/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>Adrian Peterson</category><category>Anaheim Ducks</category><category>Boston</category><category>Boston Red Sox</category><category>Calvin Johnson</category><category>Chicago</category><category>Chicago Blackhawks</category><category>Chicago White Sox</category><category>Colorado Avalanche</category><category>Dallas</category><category>Denver</category><category>Denver Nuggets</category><category>Green Bay Packers</category><category>Los Angeles</category><category>Los Angeles Clippers</category><category>Los Angeles Dodgers</category><category>Los Angeles Kings</category><category>Matthew Stafford</category><category>Minnesota Timberwolves</category><category>Minnesota Twins</category><category>Minnesota Vikings</category><category>Minnesota Wild</category><category>Montreal Expos</category><category>National Football League playoffs</category><category>NBA Finals</category><category>New England Patriots</category><category>New York</category><category>New York City</category><category>New York Giants</category><category>New York Knicks</category><category>New York Mets</category><category>New York Yankees</category><category>Philadelphia</category><category>Sports</category><category>St. Louis Cardinals</category><category>Stanley Cup</category><category>Super Bowl VII</category><category>Tim Tebow</category><category>Twin cities</category><category>Wall Street</category><category>Washington Capitals</category><category>World Series</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2012-02-02T14:00:00 00:00</dc:date></item><item><title>10 States With the Most Mortgage Debt</title><link>http://realestate.aol.com/blog/2012/01/27/10-states-with-the-most-mortgage-debt/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2012/01/27/10-states-with-the-most-mortgage-debt/</guid><comments>http://realestate.aol.com/blog/2012/01/27/10-states-with-the-most-mortgage-debt/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a>,<a href="http://realestate.aol.com/blog/category/economy/" rel="tag">Economy</a></p><img alt="foreclosure sign" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2012/01/foreclosures-welcome.jpg" style="border-width: 1px; border-style: solid; margin: 4px; float: left;" />How much residents of each state owe on their mortgages is an interesting statistic. For the most part, residents of the states with the highest average mortgage debt are not in trouble. While the average home price in these states dropped in value during the recession, the foreclosure rates in these states are among the lowest in the country. The reason: Residents of these states can generally afford to lose and owe more money than their counterparts in other states. (Click the gallery below to see the full list.)<br />
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24/7 Wall St. examined a recent report by Credit Karma to find the 10 states with the highest average mortgage debt. Most of the states on our list have extremely high mortgage debt because of the size of their initial mortgages. States like Connecticut and Massachusetts, which have among the highest median home values in the U.S., also have among the highest mortgage debt. Hawaii, which has the second-highest average mortgage debt per person, has the highest median home value of $525,400.<br />
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Many of the states on the list also experienced the steepest declines in home value during the recession. Home prices in seven of the states with the highest mortgage debt declined during the recession. In states like California and Nevada, properties lost more than 30 percent of their value. Even in states like New Jersey and Maryland, which fared relatively well during the recession, homes lost between 7 percent and 10 percent of their value.<br />
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Sharp declines in home values, coupled with high mortgage debt, should translate to financial disaster. However, while home values dropped more than 7 percent in Maryland, Massachusetts and New Jersey -- states where mortgage debt is the highest -- foreclosure rates stayed low.<br />
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Meanwhile, states with the lowest median home value and relatively high mortgage debt tend to have the highest foreclosure rates. Illinois, Michigan and Florida all have median home values below the national average and relatively high mortgage debt compared to housing prices in the state. These states also have among the highest foreclosure rates in the country.<br />
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<strong>More from 24/7 Wall St.:</strong><br />
<a href="http://247wallst.com/2012/01/27/ten-cities-crushed-by-the-global-recession/" target="_blank">10 Cities Crushed by the Global Recession</a><br />
<a href="http://247wallst.com/2012/01/27/americans-want-government-aid-for-housing-but-lack-ideas/" target="_blank">Americans Want Federal Aid for Housing, But Lack Ideas</a><br />
<a href="http://247wallst.com/2012/01/25/the-worst-cities-for-retirees-to-find-work/" target="_blank">Worst Cities for Retirees to Find Work</a><br />
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<strong>Also see:</strong><br />
<a href="http://Report: Foreclosures Down, But Discounts Abound">Report: Foreclosures Down, But Discounts Abound</a><br />
<a href="http://realestate.aol.com/blog/2012/01/26/new-home-sales-2011-worst-year-on-record/">New Home Sales 2011: Worst Year on Record</a><br />
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<strong><em>More on AOL </em><a class="inlinked" href="http://realestate.aol.com/"><em>Real Estate</em></a></strong><em><strong>:</strong><br />
Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a><em> payments.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em> in your area.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em> in your area.<br />
See<a href="http://realestate.aol.com/blog/category/celebrity-homes/" target="_blank"> celebrity real estate</a>.</em><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2012/01/27/10-states-with-the-most-mortgage-debt/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20158556/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2012/01/27/10-states-with-the-most-mortgage-debt/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>Credit Karma mortgage debt</category><category>highest mortgage debt</category><category>lowest mortgage debt</category><category>mortgage debt</category><category>mortgage debt states</category><category>report Credit Karma</category><category>states with least mortgage debt</category><category>states with most mortgage debt</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2012-01-27T16:00:00 00:00</dc:date></item><item><title>The 10 Best U.S. Cities For Families (SLIDESHOW)</title><link>http://realestate.aol.com/blog/2012/01/14/the-10-best-u-s-cities-for-families-slideshow/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2012/01/14/the-10-best-u-s-cities-for-families-slideshow/</guid><comments>http://realestate.aol.com/blog/2012/01/14/the-10-best-u-s-cities-for-families-slideshow/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a></p><img alt="best cities for kids" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2012/01/swingset-alamy.jpg" style="border-width: 1px; border-style: solid; margin: 4px; float: left;" />Choosing where to raise your kids can be a deeply personal decision, based on what you value most, what you can live without, and of course, what you can afford. But some things are universally desired, including good schools, health care, and nearby recreational opportunities. It was these and other similar factors that 24/7 Wall St. considered in order to identify the 10 best cities in which to raise a family.<br />
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The best-performing cities to make our list have large public outdoor spaces, lots of playgrounds, top hospitals and strong schools. Sometimes, as in the case of Irvine, Calif., where a decommissioned Marine Corps air station has been transformed into the massive Orange County Great Park, a bit of good fortune has played a role. However, the cities on our list generally have economies that are booming.<br />
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(Click the gallery below to see the full list)<br />
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Because being able to pay the bills is critical to raising a family, we factored unemployment rates into the equation. In the end, seven out of the 10 cities on our list had unemployment rates among the lowest in the country, and the majority saw their economies improve in recent years due to growth in new industries, primarily in the tech field.<br />
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High school graduation rates reflect the quality of both the local school system and the economy. The cities that performed best also have educated adult populations. Eight out of the 10 cities have a large percentage of adults with at least a high school degree.<br />
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We examined the nation's 100 largest cities and complied our list based on data on adult education levels from the Census Bureau; unemployment data from the Bureau of Labor Statistics; data on the nation's best high schools and the best children's hospitals from U.S. News and World Report; violent crime rates from the FBI; and data on parkland, playgrounds and other public facilities from the Trust for Public Land.<br />
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This is 24/7 Wall St.'s list of the best cities to raise a family:<p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2012/01/14/the-10-best-u-s-cities-for-families-slideshow/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20148521/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2012/01/14/the-10-best-u-s-cities-for-families-slideshow/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><dc:creator>24/7 Wall St.</dc:creator><dc:date>2012-01-14T07:00:00 00:00</dc:date></item><item><title>Housing Market 2011: Highest Peaks, Lowest Valleys</title><link>http://realestate.aol.com/blog/2011/12/23/housing-market-2011-price-increase-most-improved-worst-markets/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/12/23/housing-market-2011-price-increase-most-improved-worst-markets/</guid><comments>http://realestate.aol.com/blog/2011/12/23/housing-market-2011-price-increase-most-improved-worst-markets/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a></p><img alt="bloomington indiana" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/12/bloomington-in-1324578161.jpg" style="border-width: 1px; border-style: solid; margin: 4px; float: left;" />It is no secret that the national housing market has gotten even worse this year. With each passing month, it seems that most measures pointed to further weakening. Although there are a few exceptions at the state and local level, the wave of foreclosures is still so large that most markets cannot stage price recoveries. And the portion of underwater home mortgages is now over a fifth of the entire home market. 24/7 Wall St. examined the nation's metropolitan areas that had the biggest gains in home prices from January to October of this year and those that had the worst.<br />
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Home markets that continued to see steep price drops are generally those with higher-than-average foreclosure rates and, usually, higher-than-normal unemployment. Markets with price appreciation, on the other hand, are generally marked by below average unemployment rates and by home values that never fell a great deal during the recession. The reason prices held up relatively well during the recession is because housing prices peaked much later in those areas than the national peak in 2006, keeping demand relatively level.<br />
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Bloomington, Ind., is a prime example. Home values in the metropolitan statistical area did not peak until the second quarter of 2010, nearly three years after the national average. That means demand remained good through the recession. Since that peak, values have dropped only 3.7 percent. Compared to a national market where prices have dropped by nearly a third since 2006, this decline is nominal. Bloomington shares another characteristic with home markets that have done well. Its unemployment rate is only 7.3 percent, nearly two full points below the national average as of October.<br />
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A prime example at the other end of the market is the Reno-Sparks metro area. Home prices peaked early, in the first quarter of 2006. This is probably because of the Nevada building boom, which also hit Nevada's Las Vegas-Paradise metro area. Home inventory was so large that the numbers of vacant homes grew rapidly, even before the recession officially began. Since their peak, home prices in Reno-Sparks have plummeted more than 51 percent by October, and they continue to fall to this day. There is not a strong employment base to support home prices and sales. Unemployment in the Reno area is 12.1 percent.<br />
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24/7 Wall St. relied on CoreLogic's Home Price Index to identify the metropolitan statistical areas that increased and decreased the most from January to October of this year. CoreLogic also provided Foreclosure data for the 384 MSAs that the company tracks. Data reflecting the amount each housing market is down from its peak value is from Fiserv-Case Shiller. Unemployment data for October of this year is from the Bureau of Labor Statistics.<br />
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24/7 Wall St. found, as it reviewed the housing markets in 384 U.S. metropolitan statistical areas, that those regions that survived the recession the best economically have begun to see a rebound in home prices. Markets marred by high unemployment and sharp drops in home prices have usually not recovered at all.<br />
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<strong>More from 24/7 Wall St:</strong><br />
<a href="http://247wallst.com/2011/12/09/the-most-dangerous-cities-in-the-world/" target="_blank">The Most Dangerous Cities in the World</a><br />
<a href="http://247wallst.com/2011/12/21/cities-gaining-and-losing-the-most-jobs/" target="_blank">U.S. Cities That Gained (And Lost) The Most Jobs</a><br />
<a href="http://247wallst.com/2011/11/22/cities-where-violent-crime-is-soaring/" target="_blank">Cities Where Violent Crime Is Soaring</a><br />
<br />
<strong>Also see:</strong><a href="http://realestate.aol.com/blog/2011/12/23/open-houses-of-the-week-christmas-edition/" target="_blank" title="View Open Houses of the Week: Christmas Edition on AOL Real Estate"><br />
Open Houses of the Week: Christmas Edition </a><br />
<br />
<em><strong><em>More on AOL </em><a class="inlinked" href="http://realestate.aol.com/"><em>Real Estate</em></a></strong><em><strong>:</strong></em></em><br />
<span class="response" style=""></span><em>Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a> payments.<br />
<em><em> Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em> in your area.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em> in your area.<br />
Finds<a href="http://realestate.aol.com/blog/rentals/" target="_blank"> homes for rent</a> in your area.</em></em><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/12/23/housing-market-2011-price-increase-most-improved-worst-markets/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20133831/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/12/23/housing-market-2011-price-increase-most-improved-worst-markets/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>best housing market</category><category>best real estate</category><category>housing market 2011</category><category>worst housing market</category><category>worst real estate</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-12-23T10:00:00 00:00</dc:date></item><item><title>10 Top Markets for Bargain Hunters</title><link>http://realestate.aol.com/blog/2011/11/18/10-top-markets-for-bargain-hunters/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/11/18/10-top-markets-for-bargain-hunters/</guid><comments>http://realestate.aol.com/blog/2011/11/18/10-top-markets-for-bargain-hunters/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a>,<a href="http://realestate.aol.com/blog/category/buying/" rel="tag">Buying</a></p>Many Americans are planning to buy homes in the areas that have been hardest-hit by the real estate crisis, according to housing data released this week. Real estate research agency Trulia reported that there are a number of major metropolitan areas in the U.S. where people from around the country -- many of them retiring baby boomers -- are looking for bargains. 24/7 Wall St. has identified the 10 with the highest rate of "inbound" searches.<br />
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Eight out of the 10 areas on our list had a more severe decline in home prices than the U.S. average from pre-recession levels. In six of them, median prices are less than half what they were five years ago. In the Cape Coral-Fort Myers region of Florida, home prices are down nearly 60 percent.<br />
<img alt="" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/11/10-orlando.jpg" style="width: 350px; height: 234px;" /><br />
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Dramatic declines in home prices, coupled with rising unemployment, led to a financial crisis for millions of Americans as their homes became worth less than their mortgages. Seven of the 20 regions in the country with the highest rate of underwater mortgages appear on our list.<br />
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A consequence has been high foreclosure and vacancy rates. Some areas are still seeing extremely high foreclosure rates, including the Sarasota-Bradenton-Venice area, which had a 57 percent increase in foreclosures from the second quarter of this year to the third.<br />
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The large volume of foreclosures has led to a massive inventory of homes that are now being offered for a fraction of their original prices. "Inventory puts downward pressure on prices," says Jed Kolko, chief economist at Trulia. According to Kolko, with a huge quantity of foreclosed homes worth very little, the 10 areas on our list will be buyers' markets for the foreseeable future.<br />
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In addition to Trulia's list of the regions with the highest metro movers score -- the ratio of inbound searches to outbound searches -- we included former, current and projected home price information from Fiserv, as well as unemployment rates from the Bureau of Labor Statistics. We also included, from CoreLogic, information on underwater mortgages and the percentage of regional sales that have been on formerly-foreclosed-upon homes.<br />
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Click through the above gallery to see the 10 metropolitan areas where people want to buy homes.<br />
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<strong>Also see:</strong><a href="http://realestate.aol.com/blog/2011/11/18/open-houses-of-the-week-golden-opportunities-for-retirees/" target="_blank" title="View Open Houses of the Week: Golden Opportunities for Retirees on AOL Real Estate"><br />
Open Houses of the Week: Golden Opportunities for Retirees </a><a href="http://realestate.aol.com/blog/2011/11/18/fha-loan-limit-raised-despite-opposition/" target="_blank" title="View FHA Loan Limit Raised, Despite Opposition on AOL Real Estate"><br />
FHA Loan Limit Raised, Despite Opposition </a><br />
<a href="http://realestate.aol.com/blog/2011/11/18/when-it-comes-to-mortgages-women-dont-shop-enough/" target="_blank" title="View When It Comes to Mortgages, Women Don't Shop Enough on AOL Real Estate">When It Comes to Mortgages, Women Don't Shop Enough </a><br />
<br />
<strong><em>More on AOL </em><a class="inlinked" href="http://realestate.aol.com/"><em>Real Estate</em></a></strong><em><strong>:</strong><br />
Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a><em> payments.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em> in your area.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em> in your area.<br />
Finds<a href="http://realestate.aol.com/blog/rentals/" target="_blank"> homes for rent</a> in your area.</em><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/11/18/10-top-markets-for-bargain-hunters/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20110012/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/11/18/10-top-markets-for-bargain-hunters/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>buyers market</category><category>cities where people want to buy homes</category><category>foreclosure crisis</category><category>Foreclosures</category><category>home buying</category><category>hot housing markets</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-11-18T18:30:00 00:00</dc:date></item><item><title>10 Cities Getting Slammed by Foreclosures</title><link>http://realestate.aol.com/blog/2011/11/11/ten-cities-getting-slammed-by-foreclosures/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/11/11/ten-cities-getting-slammed-by-foreclosures/</guid><comments>http://realestate.aol.com/blog/2011/11/11/ten-cities-getting-slammed-by-foreclosures/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/foreclosures/" rel="tag">Foreclosures</a></p><img src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/11/8.-vallejo-calif.--1321031924.jpg" style="border-width: 1px; border-style: solid; margin: 4px; float: left;" />Foreclosures have increased 14% between the second and third quarter of 2011, following five straight quarters where the number of <a href="http://realestate.aol.com/blog/foreclosures/" target="_blank">foreclosures</a> has gone down. This increase could dampen the recovery of the American housing market and harm economic recovery for cities where foreclosures rose significantly. Based on data recently released by RealtyTrac, 24/7 Wall St. has identified the 10 metropolitan regions where foreclosures increased by more than 30%.<br />
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The housing crisis that began half a decade ago is the cause of most of the foreclosures, even today. The bubble did not burst at the same time across the country. Many of the cities on this list were among the first to be hit. Eight out of the 10 metropolitan areas listed reached a peak median home value in the first quarter of 2006, after which they started declining. Most regions peaked toward the end of 2006, into 2007. This means the regions listed here have been declining longer than the rest of the country.<br />
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Because home values have been dropping in these areas longer than most other markets, they have generally also fallen further. In half of the regions on this list house prices have declined 50% or more since their peak. Home values in the Cape Coral-Fort Myers area, where foreclosures increased over 35%, have dropped by nearly 60% since the beginning of 2006, the seventh-greatest decline among any region in the U.S.<br />
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With a few exceptions, most of the cities listed are full of financially distressed and underwater homeowners - those whose homes are worth less than their mortgages. Six of the cities on this list are among the 20 cities with the largest portion of underwater homeowners. In the case of Fairfield-Vallejo, Florida, 53% of homes are in this position.<br />
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24/7 Wall St. used a RealtyTrac's press release on quarterly rates to identify the 10 cities where foreclosures had increased the most between the second and third quarter of 2011. To illustrate other economic factors at play in these regions, we used unemployment rates from the Bureau of Labor Statistics and home price changes and median family incomes from Fiserv. Finally, 24/7 Wall St. also looked data from Corelogic on the cities with the highest percent of homes with underwater mortgages.<br />
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Most of these cities have high unemployment rates, low median family income and falling home values. These three forces combined suggest that foreclosures are likely to get even worse in these areas before they get better.<br />
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<a href="http://realestate.aol.com/blog/gallery/10-cities-getting-slammed-by-foreclosures/" target="_blank">Click through the gallery</a> to see the 10 cities where foreclosure rates are skyrocketing.<br />
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<strong>Also see:</strong><br />
<a href="http://realestate.aol.com/blog/2011/10/18/mortgage-prof-why-banks-foreclose-instead-of-settling-for-les/" target="_blank" title="View 'Mortgage Prof': 5 Reasons Banks Would Rather Foreclose on AOL Real Estate">'Mortgage Prof': 5 Reasons Banks Would Rather Foreclose </a><br />
<a href="http://realestate.aol.com/blog/2011/08/25/the-mortgage-fix-that-can-save-the-economy/" target="_blank" title="View The Mortgage Fix That Can Save the Economy on AOL Real Estate">The Mortgage Fix That Can Save the Economy </a><br />
<a href="http://realestate.aol.com/blog/2011/10/25/5-foreclosure-flip-tips-from-the-flip-men/" target="_blank" title="View 5 Foreclosure Flip Tips From the 'Flip Men' on AOL Real Estate">5 Foreclosure Flip Tips From the 'Flip Men' </a><br />
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<span class="150331117-23082010"><strong><em>More on AOL </em><a class="inlinked" href="http://realestate.aol.com/"><em>Real Estate</em></a></strong><em><strong>:</strong><br />
Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a><em> payments.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em> in your area.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em> in your area.<br />
<a href="http://realestate.aol.com/blog/rentals/" target="_blank">Find rentals</a> in your area.</em></span><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/11/11/ten-cities-getting-slammed-by-foreclosures/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20103733/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/11/11/ten-cities-getting-slammed-by-foreclosures/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>foreclosure rates</category><category>Foreclosures</category><category>housing crisis</category><category>housing market</category><category>realtytrac</category><category>worst cities for foreclosures</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-11-11T13:00:00 00:00</dc:date></item><item><title>10 Best Cities to Live Car-Free</title><link>http://realestate.aol.com/blog/2011/11/02/10-best-cities-to-live-in-car-free/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/11/02/10-best-cities-to-live-in-car-free/</guid><comments>http://realestate.aol.com/blog/2011/11/02/10-best-cities-to-live-in-car-free/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a></p><img border="1" hspace="4" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/11/7-train-terminal-alamy.jpg" vspace="4" /><br />
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Several factors make a city easy to live in without a car. The most important one is a widely available and efficient public transportation system. Another is having daily amenities, such as groceries, shopping, schools and entertainment, nearby and within easy reach on foot or by bicycling. The best cities have both features and 24/7 Wall St. has identified the 10 best ones to live in without a car.<br />
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For people without cars, large cities with dense populations can be easier to handle if they have exceptional levels of "walkability." New York City, for example, is great for a car-free lifestyle because the majority of daily conveniences are reachable on foot. In Boston, the situation is similar. Both cities also have highly efficient public rail systems. As a result, people can easily get to work even if the distance is too far to walk.<br />
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More sprawling metropolitan areas can also be easier to negotiate for those without cars as long as they have highly developed public transit systems. The Los Angeles metropolitan area runs more than 500 bus lines, covering 96 percent of neighborhoods. Similarly, San Jose covers nearly 96 percent by running about 100 bus lines. Although these cities do not have exceptional levels of rail service, residents can avoid owning automobiles by relying on city buses.<br />
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The majority of cities that are easy to maneuver on foot or by public access also have relatively large bicycling communities. For example, more people bike to work in a city like Portland, Ore., than in a city like San Antonio, Texas, which is not very pedestrian or bicyclist friendly. These cities tend to have an exceptional number of programs and bylaws for bicyclists. Seven of the cities on 24/7 Wall St.'s list are also featured on<em> Bicycling</em> magazine's list of the top 50 bike-friendly cities.<br />
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To compile this list of the best cities to live in without a car, 24/7 Wall St. examined the 100 largest metropolitan areas. In each city, we looked at the percentage of neighborhoods covered by public transit, the frequency of service for those neighborhoods and the share of jobs reachable within 90 minutes or less by public transit for people living in those neighborhoods, all provided by the Brookings Institution. We also looked at the "walk score" for the primary city of each metropolitan area, provided by research group Walk Score. This number represents how accessible-on-foot the amenities are for city residents. Finally, we considered the percentage of commuters who bike to work, using data from the Census Bureau.<br />
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Having cities that allow easy, car-free living has other benefits. Nick Spang of Walk Score told 24/7 Wall St. via email: "Walkable neighborhoods are one of the simplest and best solutions for the environment, our health and our economy."<br />
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See 24/7 Wall St.'s post on <a href="http://247wallst.com/2011/11/01/the-best-cities-to-live-in-car-free/" target="_blank">the best cities to live in without a car.</a><br />
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<strong>Also see:</strong><br />
<a href="http://realestate.aol.com/blog/2011/11/02/where-are-the-real-home-bargains-not-where-you-think/" target="_blank" title="View Where Are the Real Home Bargains? Not Where You Think! on AOL Real Estate">Where Are the Real Home Bargains? Not Where You Think! </a><br />
<a href="http://realestate.aol.com/blog/2011/08/10/college-town-real-estate-investments-score-high-marks/" target="_blank" title="View College Town Real Estate Investments Score High Marks on AOL Real Estate">College Town Real Estate Investments Score High Marks </a><br />
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<strong><em>More on AOL </em><span class="inlinked"><em>Real Estate</em></span></strong><em><strong>:</strong><br />
Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a><em> payments.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em> in your area.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em> in your area.<br />
</em><em>See <a href="http://realestate.aol.com/blog/tag/celebrity+real+estate/" target="_blank">celebrity real estate.</a></em><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/11/02/10-best-cities-to-live-in-car-free/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20095766/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/11/02/10-best-cities-to-live-in-car-free/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>best cities for commuters</category><category>best cities for commuting</category><category>car free</category><category>car free cities</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-11-02T17:00:00 00:00</dc:date></item><item><title>Cities Where Homeowners Are Staying Afloat</title><link>http://realestate.aol.com/blog/2011/11/01/cities-where-homeowners-are-staying-afloat/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/11/01/cities-where-homeowners-are-staying-afloat/</guid><comments>http://realestate.aol.com/blog/2011/11/01/cities-where-homeowners-are-staying-afloat/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a></p><img alt="lancaster " src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/10/lancaster-pa-alamy-1320089865.jpg" style="border-width: 1px; border-style: solid; margin: 4px; float: left;" />President Obama recently announced he would extend the nation's mortgage refinancing program in an effort to provide relief to homeowners whose mortgages are worth more than the value of their homes. With 11 million underwater households no one can claim the housing crisis over. However, some regions have survived the crisis better than others. In those areas, home values are either stable or rising, and unemployment is below the national average.<br />
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24/7 Wall St. has identified the markets with the fewest underwater homes. When the housing bubble was in full swing in the beginning of the 2000s, millions of Americans bought new homes at historic high prices. Based on the belief that property values continue to rise, it seemed a good strategy. However, when the housing bubble finally burst and the recession began, home values declined sharply, unemployment skyrocketed, and homeowners could no longer make their mortgage payments.<br />
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Strong employment and housing markets went hand in hand. Regions that added jobs also had sizzling housing markets. Of course, the housing boom in these areas contributed to further job growth. In places like Las Vegas, which saw major job growth during the the boom, home prices increased by 36 percent during the first half of the decade. When the market collapsed, these regions were hurt the most. The extension of the Home Affordable Modification Program, which is considered a failure by many economists, may provide a shot in the arm to such markets.<br />
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It appears that the only places that managed to survive this crisis were those that were suffering economically at the time when people were building and buying new homes. These cities, which include Rochester, Buffalo and Pittsburgh, were in many cases former industrial powerhouses that have been steadily losing jobs for the past 40 years. In these regions, home values remained stable during the crisis and relatively few risky mortgages were taken out on new homes.<br />
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Now these regions, which did not benefit from the nation's housing boom, are doing better than most. Because fewer homes were built in the last decade and these cities are now adding jobs, prices have remained stable and even increased.<br />
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Using data obtained from housing data and analytics firm CoreLogic, 24/7 Wall St. has identified the 10 regions built around an urban center -- core-based statistical areas -- with housing markets that had the lowest percent of homes with underwater mortgages. We compared the data to the number of REO sales (sales of homes that had been repossessed) and distressed sales (sales by homeowners who could not continue to make mortgage payments) for the same regions. We obtained unemployment data from the Bureau of Labor Statistics. We obtained data on homes built since 2000 from the U.S. Census Bureau.<br />
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<a href="http://247wallst.com/2011/10/28/the-american-cities-where-mortgages-are-staying-afloat/" target="_blank">Click here to see 24/7 Wall St.'s 10 cities with the fewest underwater mortgages. </a><br />
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<strong>Also see:</strong><br />
<a href="http://realestate.aol.com/blog/2011/10/26/upside-down-on-your-first-house-just-buy-a-second-one/" target="_blank" title="View Upside Down on Your First House? Just Buy a Second One! on AOL Real Estate">Upside Down on Your First House? Just Buy a Second One! </a><br />
<a href="http://realestate.aol.com/blog/2011/09/21/viewpoint-why-no-new-houses-may-be-a-good-thing/" target="_blank" title="View Viewpoint: Why No New Houses May Be a Good Thing on AOL Real Estate">Viewpoint: Why No New Houses May Be a Good Thing </a><br />
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<em><strong>More on AOL <span class="inlinked"><a class="inlinked" href="http://realestate.aol.com">Real Estate</a></span>:</strong><br />
Find out how to <a href="http://realestate.aol.com/mortgage-calculator?flv=1" target="_blank"><span class="inlinked">calculate mortgage</span></a> payments.<br />
Find <a href="http://realestate.aol.com/homes-for-sale"><span class="inlinked">homes for sale</span></a> in your area.<br />
Find <a href="http://realestate.aol.com/foreclosures"><span class="inlinked">foreclosures</span></a> in your area.<br />
Find <a href="http://realestate.aol.com/blog/rentals/" target="_blank">rentals</a> in your area.</em><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/11/01/cities-where-homeowners-are-staying-afloat/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20094911/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/11/01/cities-where-homeowners-are-staying-afloat/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>Best cities for housing</category><category>distressed properties</category><category>foreclosure crisis</category><category>homeowners</category><category>housing crisis</category><category>reo</category><category>underwater mortgages</category><category>Upside down house</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-11-01T06:00:00 00:00</dc:date></item><item><title>Pity the Homeowner Who Tries to Sell in These 10 Cities</title><link>http://realestate.aol.com/blog/2011/10/20/pity-the-homeowner-who-tries-to-sell-in-these-10-cities/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/10/20/pity-the-homeowner-who-tries-to-sell-in-these-10-cities/</guid><comments>http://realestate.aol.com/blog/2011/10/20/pity-the-homeowner-who-tries-to-sell-in-these-10-cities/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a></p><img border="1" hspace="4" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/10/lede-1319059846.jpg" vspace="4" /><br />
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The number of homes listed for sale in the largest cities in the country has fallen 20 percent in the past year, according to a report released last week by Realtor.com. While the number of homes on the market has dropped around the country, the average number of days that listed homes have been on the market has remained the same: 107 days.<br />
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24/7 Wall St. has identified <a href="http://realestate.aol.com/blog/gallery/cities-where-homes-will-not-sell-0/" target="_blank">the 10 cities where homes are on the market <span style="text-decoration: underline;"> </span>for the longest time</a>.<br />
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When it comes to the housing crisis, foreclosures and home prices often dominate the headlines. Other information, however, is just as important to a complete understanding of the crisis. Chief among these is the amount of time that homes are on the market and whether the total inventory of available homes has changed. These are better indications of supply and demand than any other data.<br />
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Wilmington, N.C., tops the list, with houses remaining on the market for 164 days. Compare that to a city in bad shape, like Detroit, where the number is only 65 days. Wilmington's figure is not necessarily a bad sign. A city where listed homes have been on the market for a long period may be one where many homeowners still believe there is a chance that they can make a sale. Detroit's figure is probably low because people are no longer listing their homes for sale due to a lengthy and depressed housing market.<br />
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The one figure that does often coincide closely with the high number of days on the market is foreclosures. In eight of the 10 cities where homes are on the market for the longest period, foreclosures were at or well above the national average. Clearly, people who must sell their homes keep them on the market as long as they can. Eventually, particularly in cities with many days on the market, the ability of these homeowners to pay their mortgage runs out.<br />
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Another reason that homes in many of these cities have been on the market for so long is that they are among those that had rapid population growth between 1990 and 2010. This caused a rapid expansion of inventory. The cities became overbuilt as the housing crisis began to drive up foreclosures, particularly among homes with subprime mortgages.<br />
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Notable among the cities that added large numbers of people are Tallahassee. The population of the Florida state capital rose over 20 percent from 1990 to 2000 and another 20 percent from 2000 to 2010, according to the Census Bureau. West Palm Beach grew even more rapidly over the same 20 years. Gainesville grew by 30 percent from 2000 to 2010. Florida, which has five cities on this list, has the second highest foreclosure rate of any state, trailing only Nevada, according to RealtyTrac. Florida's population rose by approximately 30 percent each decade from 1970 through 2010.<br />
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The most obvious sign that the housing market has begun to recover will be when prices begin to rise and foreclosures abate. There will be other signals. Days-on-market for homes may actually rise for some period nationwide. Homeowners seeing a market recovery will put their homes on the market. As a consequence, inventory will rise. The real test of a recovery will be how quickly this increased inventory eventually will fall.<br />
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In order to identify the cities where homes stay on the market the longest, 24/7 looked at pricing and listing data provided by Realtor.com. For these cities, we identified whether the number of homes available increased or decreased, as well as how much prices have changed during that period. We also included most recent foreclosure rates provided by Realtytrac, and compared those to the national average.<br />
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<strong>Also see:</strong><a href="http://realestate.aol.com/blog/2011/09/29/viva-las-vegas-sin-city-now-bargain-city/" target="_blank" title="View Viva Las Vegas! Sin City Now Bargain City on AOL Real Estate"><br />
Viva Las Vegas! Sin City Now Bargain City </a><br />
<a href="http://realestate.aol.com/blog/2011/10/18/viewpoint-housing-is-ghost-issue-in-presidential-race/" target="_blank" title="View Viewpoint: Housing Is Ghost Issue in Presidential Race on AOL Real Estate">Viewpoint: Housing Is Ghost Issue in Presidential Race </a><br />
<a href="http://realestate.aol.com/blog/2011/09/29/viva-las-vegas-sin-city-now-bargain-city/" target="_blank" title="View Viva Las Vegas! Sin City Now Bargain City on AOL Real Estate"><br />
</a>%Gallery-135308%<p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/10/20/pity-the-homeowner-who-tries-to-sell-in-these-10-cities/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20085643/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/10/20/pity-the-homeowner-who-tries-to-sell-in-these-10-cities/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>247 Wall Street</category><category>cities where homes will not sell</category><category>homebuyers</category><category>housing crisis</category><category>housing market</category><category>housing outlook</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-10-20T14:00:00 00:00</dc:date></item><item><title>States Where the Most (and Fewest) People Own Homes</title><link>http://realestate.aol.com/blog/2011/10/11/states-where-the-most-and-fewest-people-own-homes/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/10/11/states-where-the-most-and-fewest-people-own-homes/</guid><comments>http://realestate.aol.com/blog/2011/10/11/states-where-the-most-and-fewest-people-own-homes/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a></p><img src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/10/new-york-1318284062.jpg" style="border-width: 1px; border-style: solid; margin: 4px; float: left;" /> The <a href="http://realestate.aol.com/blog/2011/10/07/census-american-dream-of-home-ownership-may-be-gone-for-good/" target="_blank">dream of owning a home</a> has become increasingly unattainable for many Americans, and the situation is not likely to improve soon, as the collapse of the housing market and the recession continue to take their toll. That is the disturbing conclusion to be drawn from the U.S. Census Bureau's newly released report "<a href="http://www.census.gov/prod/cen2010/briefs/c2010br-07.pdf" target="_blank">Housing Characteristics: 2010</a>," an overview of the national home market at the end of the last decade.<br />
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One of the highlights of the report is a list of the states that have the highest and lowest percentage of homes occupied by their owners. 24/7 Wall St.'s review of the data found that homeownership rates were high in thinly populated states and those with low home prices, while homeownership was low in states with expensive homes and large cities.<br />
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The swing between the states with the highest and lowest homeownership is extraordinary. Just over 53 percent of the people in New York State own homes. At the other end of the spectrum is West Virginia -- with a homeownership rate above 73 percent. In addition to New York City, New York State includes the relatively large cities of Rochester, Buffalo, Syracuse, and Albany. In West Virginia, by contrast, the two largest cities -- Charleston and Huntington -- are barely cities at all. Together they have just over 100,000 people in a state with 1.9 million residents. For this article, 24/7 Wall St. has primarily considered cities' metropolitan areas, which are cities and their adjacent communities that, according to the Census Bureau, "have a high degree of economic and social integration" with the cities.<br />
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According to the report, in the last decade, homeownership in the U.S. dropped the most since 1940. The post-war housing boom lasted for over half a century as increased construction and liberal lending practices made homes affordable to a large majority of Americans. Subprime mortgages stretched that ease of availability to the breaking point. When the market collapsed, so did the ability of many Americans to own homes because of tighter lending practices and fears that the market still has much further to fall.<br />
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The pattern of homeownership will probably not change much in the years ahead. People in large cities have opportunities to rent not available in suburban and rural areas. Home prices are low in states where the number of people per square mile is low. There is little supply in these states, but their populations are not large enough to create excessive demand.<br />
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The American dream of homeownership may have peaked around 2000. Much of the U.S. population is still in a struggle with high debt and stagnant income. And job security may not return to pre-recession levels for a number of years. Even if the reasons to own a home return with rising prices, the ability to buy one may not.<br />
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<strong>More from 24/7 Wall Street:</strong><br />
<a href="http://247wallst.com/2011/10/05/the-ten-states-with-the-cheapest-gas/" target="_blank">The 10 States With the Cheapest Gas</a><br />
<a href="http://247wallst.com/2011/10/06/america%E2%80%99s-recession-proof-companies/" target="_blank">America's Recession-Proof Companies</a><br />
<br />
<strong><em>More on AOL </em><a class="inlinked" href="http://realestate.aol.com/"><em>Real Estate</em></a></strong><em><strong>:</strong><br />
Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a><em> payments.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em> in your area.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em> in your area.</em><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/10/11/states-where-the-most-and-fewest-people-own-homes/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20077945/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/10/11/states-where-the-most-and-fewest-people-own-homes/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>247 Wall Street</category><category>Census 2010</category><category>census bureau</category><category>highest home ownership</category><category>home ownership</category><category>housing characteristics 2010</category><category>lowest home ownership</category><category>rates of home ownership</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-10-11T08:00:00 00:00</dc:date></item><item><title>11 Things Today's Home Sellers Must Do</title><link>http://realestate.aol.com/blog/2011/08/31/11-things-todays-home-sellers-must-do/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/08/31/11-things-todays-home-sellers-must-do/</guid><comments>http://realestate.aol.com/blog/2011/08/31/11-things-todays-home-sellers-must-do/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a>,<a href="http://realestate.aol.com/blog/category/selling/" rel="tag">Selling</a></p><img alt="home seller tips" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/08/home-for-sale-ap-1314738950.jpg" style="border-width: 1px; border-style: solid; margin: 4px; float: left;" />The environment for <span class="inlinked">home sales</span> becomes more difficult with each passing month. Some estimates put 11.1 million <a class="inlinked" href="http://realestate.aol.com/information/explanation-mortgage-types">mortgages</a>, about 23 percent of the U.S. total, underwater, meaning that homeowners owe their banks more than the underlying properties are worth. <span class="inlinked">Home foreclosures</span> reached 212,764 in July. The number for the year could rise above three million according to research firm RealtyTrac. <a class="inlinked" href="http://realestate.aol.com/foreclosures">Foreclosed homes</a> are usually sold at a discount to market so that banks can rid themselves of inventory. These artificially low prices pull down the value of homes in adjacent neighborhoods<br />
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The federal government let its tax benefit for homeowners expire in April 2010 and has not renewed it since then. The program did boost sales in 2009 and early last year. Shoppers must now face a market without the <a class="inlinked" href="http://realestate.aol.com/credit-center">credit</a> in which many <a class="inlinked" href="http://realestate.aol.com/information/home-prices">home prices</a> continue to fall.<br />
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(Click the gallery below for the full list of <a class="inlinked" href="http://realestate.aol.com/blog/2010/07/20/selling-your-home-quick-fixes-for-big-returns/">home-selling tips</a>.)<br />
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The clamor over flawed <a class="inlinked" href="http://realestate.aol.com/foreclosures">foreclosure</a> paperwork and robo-signers could further chill the housing market. People who might have bought a <span class="inlinked">home in foreclosure</span> will now worry about obtaining proper documentation and effective transfer of title.<br />
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24/7 Wall St. spoke with experts at <a class="inlinked" href="http://realestate.aol.com">real estate</a> research firms Zillow.com and RealtyTrac to find the best way to sell a home. We also interviewed management from the National Association of Realtors, a number of real estate brokers, bank managers and elected officials in affluent communities. What emerged from these conversations and our research is the following: Successful home sellers often do the same small number of things correctly. These tactics are often the difference between finding a buyer and not.<br />
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<em> <strong> More from 24/7 Wall St.:</strong><a href="http://247wallst.com/2011/07/21/108558/" target="_blank"><br />
Where People Pay Most/Least In Taxes</a><a href="http://247wallst.com/2011/08/11/the-best-paying-jobs-you-can-get-with-a-high-school-degree/" target="_blank"><br />
Best Paying Jobs with a High School Diploma</a><a href="http://247wallst.com/2011/08/19/cities-where-americans-cant-get-to-work/" target="_blank"><br />
Cities Where Americans Can't Get Work</a></em><br />
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<em><strong>More on AOL Real Estate:</strong><br />
<a href="http://realestate.aol.com/blog/2011/08/24/11-most-active-real-estate-markets/" target="_blank" title="View 11 Most Active Real Estate Markets on AOL Real Estate">11 Most Active Real Estate Markets </a></em><br />
<em><a href="http://realestate.aol.com/blog/2011/08/17/seller-financing-an-idea-whose-time-has-come/" target="_blank" title="View Seller Financing: An Idea Whose Time Has Come on AOL Real Estate">Seller Financing: An Idea Whose Time Has Come </a></em><br />
<em> Find out how to <a href="http://realestate.aol.com/mortgage-calculator?flv=1" target="_blank"><span class="inlinked">calculate mortgage</span></a> payments.<br />
Find <a href="http://realestate.aol.com/homes-for-sale"><span class="inlinked">homes for sale</span></a> in your area.<br />
Find <a href="http://realestate.aol.com/foreclosures"><span class="inlinked">foreclosures</span></a> in your area.</em><br />
<br />
<p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/08/31/11-things-todays-home-sellers-must-do/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20029533/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/08/31/11-things-todays-home-sellers-must-do/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>247 Wall Street</category><category>buyers market</category><category>home seller advice</category><category>home sellers</category><category>housing market</category><category>housing outlook</category><category>how to sell your home</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-08-31T09:00:00 00:00</dc:date></item><item><title>The 10 States Where No One Wants to Buy a New Home</title><link>http://realestate.aol.com/blog/2011/08/22/the-10-states-where-no-one-wants-to-buy-a-new-home/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/08/22/the-10-states-where-no-one-wants-to-buy-a-new-home/</guid><comments>http://realestate.aol.com/blog/2011/08/22/the-10-states-where-no-one-wants-to-buy-a-new-home/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a></p><img alt="new home sales" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/08/home-construction-ap-1314039278.jpg" style="border-width: 1px; border-style: solid; margin: 4px; float: left;" />There is a strong indication that homebuilders have almost ceased activity in several states as demand for newly built homes has dwindled. The slowdown in new home permits is particularly stark when compared to the total number of existing homes in each state. 24/7 Wall St. looked at the statistics for building permits to find the states where no one wants to buy a new home.<br />
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Building permits are among the carefully watched numbers issued by the real estate industry each month. Permits are needed in most jurisdictions before individuals or contractors can break ground. Therefore, they are a reasonable indicator of future home construction. The data on permits is issued by the Commerce Department.<br />
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Building permits have fallen in most months since the housing crash began in 2007 -- a trend that continues today. In the first half of 2005, slightly over 1 million permits were issued; there were fewer than 300,000 in the first six months of this year. Some states have seen an 80 percent decline in new permits.<br />
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Building permits are not enough, in and of themselves, to mark a slowdown. Their number in relation to the total amount of existing homes is also an indication of the state of the housing market. Consider that in a large state like California, across all towns and cities, just over 20,000 permits were issued during the first six months of this year. The number of permits may seem like a lot for a weak housing market, but it's negligible when compared to the 13.6 million existing homes in the state.<br />
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24/7 Wall St. looked at the total number of building permits issued by each state for the first half of the year. We then identified the states that had the lowest percentage of new housing permits when compared to the total number of housing units.<br />
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Surprisingly, our list of states where few recent permits have been issued differs from the typical list of the worst housing markets. California, Nevada and Florida are always on those lists because many homes are vacant and home values continue to drop. But the three are not on this list. It may be that prices have dropped so low in these markets that home inventory has begun to move, even if only tentatively. Instead, markets where housing permits are very small in relation to total homes are markets in which builders have abandoned any hope of near-term sales.<br />
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The 24/7 Wall St. analysis is another look through the prism that is the collapsing residential real estate market. Most data the public sees is based on home prices, number of homes sold or foreclosures. Housing permits are a way to look ahead at what is likely to happen in the markets in the next year. Once a permit is issued, the builder has no obligation to begin or complete the construction. This additional risk has a compounding effect.<br />
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Click through <a href="http://realestate.aol.com/blog/gallery/states-where-no-one-wants-to-buy-a-new-home/" target="_blank">the gallery</a> to see the states where no one wants to buy a new home.<br />
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<em><strong>More from 24/7 Wall St.:</strong><br />
<a href="http://247wallst.com/2011/08/18/the-eight-ways-the-market-collapse-will-cripple-your-finances/" target="_blank">8 Ways the Market Collapse Hurts Your Wallet</a><br />
<a href="http://247wallst.com/2011/08/16/the-nine-ipad-apps-changing-business/" target="_blank">9 IPad Apps Changing Business</a><br />
<a href="http://247wallst.com/2011/08/11/the-best-paying-jobs-you-can-get-with-a-high-school-degree/" target="_blank">$100,000 Jobs You Can Get With Only a High School Diploma</a></em><br />
<br />
<strong><em>More on AOL </em><span class="inlinked"><em>Real Estate</em></span></strong><em><strong>:</strong><br />
Find out how to </em><a class="inlinked" href="http://realestate.aol.com/mortgage-calculator?flv=1"><em>calculate mortgage</em></a><em> payments.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/homes-for-sale"><em>homes for sale</em></a><em> in your area.<br />
Find </em><a class="inlinked" href="http://realestate.aol.com/foreclosures"><em>foreclosures</em></a><em> in your area.</em><br />
<em>See <a href="http://realestate.aol.com/blog/tag/celebrity+real+estate/" target="_blank">celebrity real estate</a></em>.<p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/08/22/the-10-states-where-no-one-wants-to-buy-a-new-home/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20022334/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/08/22/the-10-states-where-no-one-wants-to-buy-a-new-home/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>247 Wall Street</category><category>home builders</category><category>home construction</category><category>new home sales</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-08-22T16:00:00 00:00</dc:date></item><item><title>Top 10 Hidden Costs When You Can't Sell Your Home</title><link>http://realestate.aol.com/blog/2011/08/17/top-10-hidden-costs-when-you-cant-sell-your-home/</link><guid isPermaLink="true">http://realestate.aol.com/blog/2011/08/17/top-10-hidden-costs-when-you-cant-sell-your-home/</guid><comments>http://realestate.aol.com/blog/2011/08/17/top-10-hidden-costs-when-you-cant-sell-your-home/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://realestate.aol.com/blog/category/news/" rel="tag">News</a>,<a href="http://realestate.aol.com/blog/category/home-improvement/" rel="tag">Home Improvement</a></p><img  src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/09/bedbugs-ap.jpg" style="border-width: 1px; border-style: solid; margin: 4px; float: left;" /><img border="1" hspace="4" src="http://www.blogcdn.com/realestate.aol.com/blog/media/2011/08/logo.247wallst.387x90.071511-1313440277.jpg" vspace="4" />The U.S. housing recession is so deep that an average home takes nearly a year to sell. In the hardest hit areas, it can take several years. Just ask residents of Detroit, Nevada and parts of Florida, Arizona and southern California. As if that were not enough, there are hidden costs associated with an unsold home in which the owner still lives, including upkeep and repair costs incurred while the house is on the market. 24/7 Wall St. looked at the ten most expensive repairs and what they cost. Some frequently needed repairs can cost over $10,000 to fix.<br />
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The costs of the ownership of an unsold home are already at historic highs. Research firms that track home trends say that over 11 million U.S. homes have underwater mortgages. Owners have no equity in these homes to tap to pay for upkeep, so damage to a home has to be paid out of pocket unless the event that caused the damage is covered by insurance. Homes on the market for several years obviously have an increased risk of eventually incurring some repair problem.<br />
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Owners of unsold homes face two financial problems. The first is that many of the repairs are essential to simply have a livable home. These cannot be put off. The second is that a home with substantial problems that are not repaired becomes more difficult to sell. Buyers have enough alternatives as it is in this over-supplied housing market.<br />
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In order to identify the most expensive costs homeowners have to incur, 24/7 Wall St. consulted a number of contractors, contracting associations, the National Homeowners Association and several other organizations to come up with repairs and replacements that generally cost the most. Because these costs can vary widely depending on the region of the country, the extent of the damage and the size of the home, we provided approximate estimates on the range of these costs. --Michael B. Sauter, Charles B. Stockdale, Douglas A. McIntyre<p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;">&nbsp;</p><p><a href="http://realestate.aol.com/blog/2011/08/17/top-10-hidden-costs-when-you-cant-sell-your-home/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/forward/20018215/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://realestate.aol.com/blog/2011/08/17/top-10-hidden-costs-when-you-cant-sell-your-home/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>bed bugs</category><category>home costs</category><category>home repairs</category><category>home sale costs</category><category>nar</category><category>National Homeowners Association</category><category>underwater mortgages</category><dc:creator>24/7 Wall St.</dc:creator><dc:date>2011-08-17T12:00:00 00:00</dc:date></item></channel></rss>
