In a recent article written by Forbes Magazine, the top 10 cities in the nation were ranked for being the best city for bargain house hunters. Salt Lake City, UT was ranked number 1 because of it's highest in the nation job growth and low foreclosure rate.

Many people try to speculate what is going to happen to the nationwide housing market, and that is a near impossible task to accomplish. Housing markets are local and are based on many different factors of the local economy. Economic factors nationwide can absolutely have an effect on these local markets but they may not be as dramatic as the media would like you to think.

Salt Lake City has always been known for it's slow and steady growth. When everything was booming for other cities, Salt Lake was growing moderately. Another aspect about growth in Salt Lake City is that space is very limited due to the surrounding mountains. This lack of space creates scarcity and in turn that scarcity and demand for housing increases values.

It was interesting to see Phoenix, AZ & Las Vegas, NV in the list. I have always thought these great markets to buy in a bust because of their popularity. Las Vegas is unique because of it job growth in many different industries.

As always I say when investing in real estate, invest for the long term. Leave the speculation to the people on Wall Street, and the media that likes to report the doom and gloom.

Here is the Link to the Article:

Best Cities For Bargain House-Hunters

Here is the quick list so you don't have to go through their photo tour.

10. Houston, TX

9. Richmond, VA

8. Jacksonville, FL

7. Las Vegas, NV

6. Seattle, WA

5. Phoenix, AZ

4. Charlotte, NC

3. Orlando, FL

2. Raleigh, NC

1. Salt Lake City, UT

Bryan Maynes - Realtor

Dwellings Real Estate

801.631.7530 - Phone

maybry@wfrmls.com - Email