Posted on 09/28/2010 7:26:59 AM PDT by BenLurkin
For Americans looking to buy retirement property, the historic real estate crash has created all sorts of opportunities. Home prices in 20 major metropolitan areas have declined roughly 28 percent from their 2006 peaks. Meanwhile, government efforts to ramp up demand for homes have significantly reduced mortgage costs for borrowers. Thirty-year fixed mortgage rates stood at 4.37 percent for the week ending September 16, only slightly above the 39-year lows reached two weeks earlier.
Taken together, lower home prices and cheap mortgage rates have made home buying much more affordable than just a few years ago. And given that real estate values in many traditional retirement spots--like Florida and Arizona--have fallen even harder than the national average, Americans who are ready to embark on the second half of their lives are in a particularly favorable position. To that end, U.S. News has compiled a list of 10 places where retirement home buyers can purchase property for less than $600 a month.
1. Phoenix
2. Las Vegas
3. San Antonio
4. Greenville, S.C.
5. Boise, Idaho
6. Corpus Christi, Texas
7. Tampa, Fla.
8. Columbia, Mo.
9. Tucson, Ariz.
10. Ft. Myers, Fla.
(Excerpt) Read more at finance.yahoo.com ...
4545 Cottage Grove Ave?
>>Country living is great!<<
So far we’re loving it. We had tomatoes coming out our ears when we were there. Everyone was offering them. And, naturally, they were garden fresh. My wife made an amazing pumpkin soup from a pumkin we got from one of our neighbors. She was a very sweet lady that is almost seventy and, except for a trip to the Smoky mountains, has not been out of a 30 mile radius her entire life. When we said we were from Seattle, she said she had no clue where that is.
No, she was not dumb, but she WAS ignorant - of things that really don’t matter.
I owned and ran a business for over 40 years and own a home and 2 condos, the condos i bought for cash and the only cent i ever borrowed in my life was a 1st mortgage on my home that i paid off over 20 years ago.
everything else I paid cash for including my airplane.
I do collect Social Security and maybe i’ll live long enough to get back waht i paid for it.
If you can’t afford to buy it outright, then one should not buy “toys.”
“If I didn’t know better you sound like someone who has been on gummint teat, one way or another, and never owned a business or created a job and had your financial well being dictated by the free market system!”
Doubtful. Just another fellow that knows how to “live like no one else.” Some of us prefer to not be “normal.”
My apologies....
Big Lib infestation there too........
Better hurry up and sell this year, next year you get hit with the obamacare tax
Health law’s heavy impact by Paul Guppy
http://www.spokesman.com/stories/2010/mar/28/health-laws-heavy-impact/
Small towns in West Texas such as Abilene, Big Spring, Brownwood, etc. Cost of living is very low. Climate is dry and mild. However, jobs are scarce; so you better have retirement funds to live on.
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