When you see one of those “best places to live” lists, in a magazine or elsewhere, what do you think? Do you long to move to one of those places or do you think the ratings are just a big bunch of baloney? How do these lists cause you to feel about where you live?
Oddly enough, the economic recession actually can turn 2009 into a great time to move, depending on your circumstances.
If you can manage to sell your current home for a decent price, and if you can qualify for a new mortgage under today’s tighter guidelines, you can find outstanding value elsewhere. This is especially true if you plan to stay in your new home for a long time without worrying about whether it will appreciate in value.
The Cash-Shiller home price index, published at the end of December by stock index Standard & Poor’s 500, showed that home prices in 20 major United States cities dropped by a record 18 percent during the past year. Furthermore, the outlook is for an extended slump into 2009. That’s bad if you’re selling but good if you’re buying. America’s housing price bubble from earlier this decade has definitely burst.
The biggest price drops are in the Southwest and California, which many people perceive as dream locations on those “best places to live” lists. Phoenix had an incredible price drop of 32.7 percent, Las Vegas 31.7 percent, San Francisco 31 percent, Los Angeles 27.9 percent and San Diego 26.7 percent.
Speaking of best places to live, residents of Bellingham, Wash., have decided to take matters into their own hands. On bellinghamster.com, they declared Bellingham the best place to live.
“There are a number of major magazines that publish a list of their picks for best places to live,” the Web site states. “While they can be useful in pointing you in the right direction, you might be left wondering how a city can be No. 1 in one year and not even make the list the following year. Maybe the town was overrun with a stampede of new residents?”
Bellingham’s pitch is that with 75,000 residents, big city conveniences and culture are combined with small town friendliness and security. It also has a waterfront and golf courses.
Money magazine’s best places lists have gained the most publicity and no doubt have promoted sales and subscriptions. Virtually every local newspaper and television station reports the annual rankings. Civic leaders in the highly rated communities boast that Money magazine has recognized them. Civic leaders of the low rated communities blast Money magazine, often with quotes such as, “Nobody from Money magazine has ever visited our city.”
Last year, Money’s top honor went to Plymouth, Minn., population 70,100. Salutations include “numerous lakes, top-notch schools, good jobs, affordable housing, low crime, an active outdoor culture.” Besides that, the Mall of America is nearby.
But if you don’t like winter weather, Plymouth will not make your best places list. That’s the point made by editors of findyourspot.com, who begin with this headline, “The Best Places to Live - and Other Fairy Tales.”
Everyone is different, asserts findyourspot.com. Readers are given roughly 15 minutes of questions that cover preferences for everything from climate to culture, from home prices to religious faith. Then you hit a button, and 24 communities are suggested.
Sperling’s Best Places allows you to search a variety of categories, anything from healthiest to greenest to best dating to worst dating. You can enter the name of any community, including your own for a report.
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