Winston-Salem Named As Top 10 Cheapest US City

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Cheapest US cities

Even though home prices may be low, buyers still have to consider the cost of living for the region they want to move to. To help buyers out, Kiplinger recently released their list of the top 10 cheapest U.S. cities to live in based on research from the Council for Community and Economic Research. Making the list at number 10 was our very own popular Carolina real estate destination, Winston-Salem, N.C.

Winston-Salem is the most budget-friendly big city within the Tar Heel State, with Raleigh coming in at second. The cost of living index is a 87.5, which means it is around 13 points below the national average. The median household income is below the national average at $41,483, but the average home price is also well below the national average at $199,118. In addition, renting an apartment typically costs around $590 a month. Two of the most popular and biggest employers for the area are Wake Forest University and Reynolds American.

If you’re considering purchasing a new home in either South Carolina or North Carolina, Winston-Salem is the only big city to make Kiplinger’s list of cheapest cities for either state.

Durham Named a Hot City for Foreclosures

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durham a hot city for foreclosures

With the real estate market in the condition it’s in, buyers these days are looking to get the best deal possible. In most markets, housing prices are still extremely affordable and interest rates are low, so buyers are able to get more house for less money. However, these conditions are starting to cause a decrease in inventory, especially foreclosure inventory, in many areas, which means prices may soon be on the rise. Even though all of this is true, Business Insider recently named Durham as one of the 10 hottest cities for investing in foreclosed homes.

According to RealtyTrac, home sales prices in the area increased by almost 20 percent between the first quarter of 2011 and the first quarter of this year, but the average foreclosure sale price remains around $150,000. This price is considered an almost 25 percent discount when compared to pricing on a North Carolina new home. However, foreclosure buyers need to act quickly because the company predicts that the foreclosure inventory is down to almost only 11 months of supply.

The only other southern city to make Business Insider’s list is Montgomery, while the rest were confined to Massachusetts, Washington, California, Ohio, Arizona and Rhode Island.

Home Styles Change to Meet Buyers’ Needs

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When buying a home, pay attention to storage space

When buying a home, pay attention to storage space

If you look at homes built just 10 years ago, you can see huge differences from current home styles. Plans and designs have changed to meet the needs of modern buyers, but what are those needs? Are they met in Carolina new homes you might be considering buying? The Equifax Finance Blog shares some key information about home features that you may find interesting in the new article, “

What Do Buyers Want in a Home?”

Armed with data taken from the Census Bureau’s 2011 Characteristics of New Housing report, the new article shares housing trends that can help you recognize some of the best features when

buying a home. For instance, buyers in 2011 were really keen on storage space for their busy lives, from pantries in kitchens to walk-in closets in master bedrooms. However, buyers are turning away from some traditionally thought of luxuries. They cut out big additions like media rooms and full outdoor kitchens. Instead, the money that would be put aside for those types of spaces is being used on premium appliances such as fire pits and high-end grills.

To learn more about real estate trends and

housing market predictions, check in with the Equifax Finance Blog.

Greenville Remains On June’s Improving Markets Index

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Good news for South Carolina real estate buyers and residents, Greenville remains this month on the list  of the  nation’s improving markets on the monthly NAHB/First American Improving Markets Index.

Improving economic conditions have resulted in payroll employment being down just 5.2 percent from its highest point set in February 2008. This number is also up 4 percent from its lowest point set in September 2009. Single family home permitting is also up 3.2 percent from its low point set in September 2010.

Greenville’s success has been due to the city’s ability to reinvent itself from a textile center into a growing center for automotives, healthcare and logistics. Greenville is a transportation hub for many trucking firms and distribution centers because of its prime I-85 location between Atlanta, GA and Charlotte, NC. Greenville is also home to two highly regarded and still growing major health systems. Plus, the city is home to the North American headquarters for Michelin and BMW as well as the Clemson University International Center for Automotive Research.

The Improving Marketing Index is a relatively new index unveiled by the National Association of Home Builders. It serves to draw attention to the fact that housing market are local, and that there are many metro areas where economic recovery is underway. The index measures monthly data on employment, single family housing permit growth and housing prices to determine whether or not a market is improving.

Florence, SC also made the June list, while the following North Carolina cities are on the list: Jacksonville, Burlington, Goldsboro, Greenville and Hickory.

Raleigh Makes 15 Hottest American Cities of the Future

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Which cities are being influenced by the next generation of hipsters, tech-savvy pros, artists or environmentalists? According to Business Insider, Raleigh is sixth on its 15 hottest American cities list of the future.

Job growth, population growth, demographics, affordability, livability and health of residents are all factors on this list. Also, how the city is innovating in terms of technology, sustainability and culture are considered in defining how a “cool” city attracts the young, creative types.

Raleigh attracts thousands of college students, families and immigrants with its many job prospects, safe communities, affordable housing and short commutes. As a result, Raleigh was ranked the number one city for business and careers by Forbes, with the fastest growing market in the U.S.

settling into Raleigh is easier than ever with a young, vibrant population and endless opportunities for employment. With major employers like Duke University, the University of North Carolina, IBM, Cisco, GlaxoSmithKline, Nortel, Verizon and Lenovo. Raleigh is the new high-tech and biotech hub with over 75,000 new jobs. Between the steady job growth and culture scene and the diverse population, Raleigh is the next future hot spot!

Cities such as Brooklyn, Seattle, Portland and Detroit are on the list of 15 hottest cities.

For a complete list of 15 hottest cities, visit Yahoo Finance. For more information on Carolina real estate, explore our site.