Real Estate

Location: Rule #1 of Real Estate

Aug 9, 2007 - With the alarming news we continue to read and hear about regarding real estate values, in conjunction with the swelling rate of mortgage delinquencies and foreclosures, it is important to note that some areas of the country are actually experiencing good news.  While the over all trend on a national level may be weak to declining values, what is happening in your own backyard, your city and state are far more important factors. In many areas of the country, it is a buyers market and the good times have continued to roll for buyers.  Incomes are generally on the rise and with home prices now declining, affordability levels are up.   The key components to those areas nationally which are still experiencing gains in real estate values are an expanding job market along with rapid population growth in areas of the country which were unlikely to have experienced the hyper-speculation of recent years.  Of course it is high real estate prices in some areas that are leading to the migration of jobs and the resulting shift in home buying activity into new areas.  The following characteristics define a good real estate location today:


  • A Solid Job Market – businesses are moving into an area because of reasonable real estate prices, lower operating costs (compared to those areas they are relocating from) as well as an educated work force to tap into.  Typically these are areas of close proximity to major universities.


  • Population Growth – good demographics result from an area that has amenities and attractions appealing to a population that is varied in age and socioeconomic makeup.   


  • Great Schools – whether you have kids or not, having good schools, those with strong national and state test scores, benefits everyone and parents are typically  interested in living only in areas which have good public schools.  This is one of the most important considerations for both renters as well as buyers with school age children.  


  • Convenience – you want to be close to major amenities and attractions in the area as well as close to where the jobs are.  It is usually property furthest away from a city's main arteries that have the most difficulty selling in a market downturn.  Proximity to freeways and public transportation is also of crucial importance.


  • Local Tax Rates – smaller towns and cities have a smaller populace to spread the fixed costs of financing schools, police and fire services.  Know what you are getting into when you buy, if you are purchasing in a small, rapidly growing area then you should count on rapidly increasing property taxes as well.  You can avoid rapidly escalating taxes by searching for property in those areas that already have experienced some population growth and have a well developed infrastructure in place.

Nancy Osborne, Nancy Osborne has had experience in the mortgage business for over 20 years and is a founder of both ERATE, where she is currently the COO and Progressive Capital Funding, where she served as President. She has held real estate licenses in several states and has received both the national Certified Mortgage Consultant and Certified Residential Mortgage Specialist designations. Ms. Osborne is also a primary contributing writer and content developer for ERATE.

"I am addicted to Bloomberg TV" says Nancy.

Fannie Mae & Jumbo Mortgage Rates

Just One Click! = Current Rate Chart

Pennsylvania Mortgage Rates Current Mortgage Rates - Hawaii Current Mortgage Rates - Alaska West Virginia Mortgage Rates Virginia Mortgage Rates District of Columbia Mortgage Rates Maryland Mortgage Rates Delaware Mortgage Rates New Jersey Mortgage Rates Connecticut Mortgage Rates Rhode Island Mortgage Rates Massachusetts Mortgage Rates New Hampshire Mortgage Rates Vermont Mortgage Rates New Hampshire Mortgage Rates Maine Current Mortgage Rates Vermont Mortgage Rates Current Mortgage Rates - New York Current Mortgage Rates - Michigan Current Interest Rates - Wisconsin Current Mortgage Rates - MINNESOTA Ohio Mortgage Rates Current Mortgage Rates - Kentucky Current Mortgage Rates - Indiana Illinois - Current Mortgage Rates Current Mortgage Rates - Iowa Missouri Mortgage Rates Current Mortgage Rates - North Carolina South Carolina Mortgage Rates Current Mortgage Rates - Florida Current Mortgage Rates - Georgia Current Mortgage Rates - Tennessee Current Mortgage Rates - Alabama Current Mortgage Rates - Mississippi Current Mortgage Rates - Louisiana Current Mortgage Rates - Arkansas Current Mortgage Rates - Oklahoma Current Mortgage Rates - TEXAS Current Mortgage Rates - New Mexico Current Mortgage Rates - Arizona Current Mortgage Rates - Kansas Current Mortgage Rates - Nebraska Current Mortgage Rates - Colorado Current Mortgage Rates - Wyoming South Dakota Mortgage Rates Current Mortgage Rates - North Dakota Current Rates - Montana Idaho Current Rates Washington Mortgage Rates Current Mortgage Rates - Oregon Current Mortgage Rates - Utah Current Mortgage Rates - Nevada Current Mortgage Rates - California

Start by selecting your state


Get the Updated and Improved Mortgage Rates App from

iPad for Mortgage Rates

Refinancing: Getting Started

Refinancing Info and Advice

Refinancing: Selecting a Loan

FREE Mortgage Rate Widgets
Your State's Rates or National Rates
Get this Widget for any State you want