TheMReport — News and strategies for the evolving mortgage marketplace.
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As home prices continue to rise in some states, they're stalling in others, leaving a great divide between where it's getting pretty hot to sell—and still too cool to buy. TOP BUYER'S MARKETS ASHEVILLE, NORTH CAROLINA PEORIA, ILLINOIS CHARLESTON, WEST VIRGINIA PHILADELPHIA, PENNSYLVANIA CELEVELAND, OHIO Statistics: Median List Price: $249,000 Total Listings (Jan. 2012– Jan. 2013): -10.62% Median Age of Inventory (Jan. 2012–Jan. 2013): -12.35% Statistics: Median List Price: $120,000 Total Listings (Jan. 2012– Jan. 2013): -14.32% Median Age of Inventory (Jan. 2012–Jan. 2013): -15.25% Statistics: Median List Price: $140,000 Total Listings (Jan. 2012– Jan. 2013): -10.62% Median Age of Inventory (Jan. 2012–Jan. 2013): -12.35% Statistics: Median List Price: $215,000 Total Listings (Jan. 2012– Jan. 2013): -6.19% Median Age of Inventory (Jan. 2012–Jan. 2013): -3.22% Statistics: Median List Price: $119,900 Total Listings (Jan. 2012– Jan. 2013): -16.36% Median Age of Inventory (Jan. 2012–Jan. 2013): 12.4% It's a Fact… Homes are staying on the market for an average of 149 days in Asheville, making it one of the slowest-selling markets in the nation. It's a Fact… Unemployment in Peoria is at 8.3 percent, one of the nation's highest unemployment rates. It's a Fact… Inventories are up 1.03 percent in comparison with January 2012, while prices have decreased by 9.61 percent since last year. It's a Fact… Homes in Philadelphia are staying on the market for 142 days on average. Hot Home: The house is large enough to be a bed and breakfast, which is exactly what it is currently, but for $1.45 million, this three-story home could be the dream residence for one. Inside the lovely estate are six bedrooms and six bathrooms, making it ideal for entertaining company. The Victorian-style home has new appliances, and all furnishings come with the house. The property also includes landscaped grounds with distinct and unique garden furniture. Hot Home: This landmark Peoria home is nestled on a 3.5-acre lot boasting an expansive river view. The house is one of the more extraordinary and distinctive properties in Peoria. The five-bedroom, six-bathroom abode has an open floor plan on the main level to the recently renovated lower level. The cohesive merging of two separate spaces serves as a great entertainment venue. The marble tiled floors lead to an impressive master suite that overlooks the split-level stone terrace that opens to the back of the estate. This mansion is currently listed for $2 million. Hot Home: This Spanishstyle mansion is on the market for $1.25 million. The 12,589-square-foot home features six bedrooms and six-and-a-half bathrooms. It also has a pool and hot tub, a marble tiled foyer, brand new kitchen appliances, and an elevator to transport its inhabitants between floors. The estate sits on almost 11 acres, which is the real star of the show. The rolling slope of the back acres is breathtaking, and the house has plenty of sun-filled rooms that offer views of the fantastic lot. Inside, there is space enough to serve as a small banquet hall, and a winding staircase leads to the indoor pool. Hot Home: Former basketball star Allen Iverson has seen his fair share of trouble with the law, but he's also had money problems that have plagued him for the last decade. His lavish spending outpaced his lagging income and as a result his home was foreclosed and is now being listed for $2.9 million. The swanky crib, which Iverson moved into in 2006, has a large pool, landscaped garden, home theater, and a wine cellar. This 8,141-square-foot home sits on nearly two acres and features a billiard room, six bedrooms, and seven-and-a-half bathrooms. It's a Fact… List prices have fallen by 6.98 percent in Cleveland since last year. Hot Home: The Van Sweringen Mansion is situated on more than seven acres and has been featured in Architectural Digest and Country Life in America. The home boasts an indoor pool, a master suite with his and her baths and dressing rooms, a firstfloor guest wing with four suites and a private library, nine fireplaces, and three separate apartments for guests or staff. Gorgeous views are offered from the verandas surrounding the house, which overlook the garden and tennis court. This home is listed for $4.975 million in the heart of one of Cleveland's swankiest neighborhoods. The M Report | 13