53 cities across U.S. have overvalued properties

Printer Friendly

August 18, 2005 A recent study by Richard DeKaser of the National City Corp., regarding U.S. housing prices, has suggested that in 53 cities across U.S.A. homes are extremely overvalued. At the top of the list was Santa Barbara Calif., which showed that 69 percent of houses in that area are overpriced.

In addition to the Santa Barbara area, California cities Merced, Riverside and Salinas populated the top five in the list compiled by a Richard Dekaser of National City Corp.

The survey, conducted by DeKaser and reported Wednesday in USA Today, was based upon surveys and looking at 299 metropolitan areas across North America. - Article by Nolan Voight for CMR news.

US metropolitan area	Actual value compared to actual market pricing	Rank
Santa Barbara, CA	Actual value only 69 percent of current market pricing	1
Salinas, CA	Actual value only 67 percent of current market pricing	2
Naples, FL	Actual value only 62 percent of current market pricing	3
Riverside, CA	Actual value only 60 percent of current market pricing	4
Merced, CA	Actual value only 59 percent of current market pricing	5
Stockton, CA	Actual value only 58 percent of current market pricing	6
Port St. Lucie, FL	Actual value only 58 percent of current market pricing	7
Madera, CA	Actual value only 57 percent of current market pricing	8
Napa, CA	Actual value only 57 percent of current market pricing	9
Medford, OR	Actual value only 55 percent of current market pricing	10
Sacramento, CA	Actual value only 54 percent of current market pricing	11
Modesto, CA	Actual value only 53 percent of current market pricing	12
San Diego, CA	Actual value only 53 percent of current market pricing	13
Santa Rosa, CA	Actual value only 52 percent of current market pricing	14
Chico, CA	Actual value only 52 percent of current market pricing	15
Barnstable Town, MA	Actual value only 50 percent of current market pricing	16
San Luis Obispo, CA	Actual value only 49 percent of current market pricing	17
Oxnard, CA	Actual value only 48 percent of current market pricing	18
Fresno, CA	Actual value only 48 percent of current market pricing	19
Los Angeles, CA	Actual value only 48 percent of current market pricing	20
Miami, FL	Actual value only 46 percent of current market pricing	21
West Palm Beach, FL	Actual value only 46 percent of current market pricing	22
Vallejo, CA	Actual value only 45 percent of current market pricing	23
Ocean City, NJ	Actual value only 45 percent of current market pricing	24
Bend, Ore	Actual value only 45 percent of current market pricing	25
Sarasota, FL	Actual value only 45 percent of current market pricing	26
Redding, CA	Actual value only 44 percent of current market pricing	27
Fort Lauderdale, FL	Actual value only 43 percent of current market pricing	28
Nassau-Suffolk, NY	Actual value only 42 percent of current market pricing	29
Santa Ana, CA	Actual value only 41 percent of current market pricing	30
Atlantic City, NJ	Actual value only 41 percent of current market pricing	31
Bakersfield, CA	Actual value only 40 percent of current market pricing	32
Oakland, CA	Actual value only 39 percent of current market pricing	33
Santa Cruz, CA	Actual value only 39 percent of current market pricing	34
Palm Bay, FL	Actual value only 38 percent of current market pricing	35
Las Vegas, NV	Actual value only 38 percent of current market pricing	36
Poughkeepsie, NY	Actual value only 37 percent of current market pricing	37
Vero Beach, FL	Actual value only 37 percent of current market pricing	38
San Jose, CA	Actual value only 36 percent of current market pricing	39
Bellingham, WA	Actual value only 35 percent of current market pricing	40
Panama City, FL	Actual value only 35 percent of current market pricing	41
Cape Coral, FL	Actual value only 35 percent of current market pricing	42
Providence, RI	Actual value only 34 percent of current market pricing	43
Reno, NV	Actual value only 33 percent of current market pricing	44
Kingston, NY	Actual value only 32 percent of current market pricing	45
Visalia, CA	Actual value only 32 percent of current market pricing	46
Deltona, FL	Actual value only 31 percent of current market pricing	47
Boston, MA	Actual value only 31 percent of current market pricing	48
Washington DC	Actual value only 31 percent of current market pricing	49
Essex County, MA	Actual value only 30 percent of current market pricing	50
San Francisco, CA	Actual value only 30 percent of current market pricing	51
Prescott, AZ	Actual value only 30 percent of current market pricing	52
Duluth, MN	Actual value only 30 percent of current market pricing	53

Today's Mortgage Rates

5/1 Adjustable Rate:
30-Yr Fixed Rate:

Find Your Lowest Rate!

What type of loan do you need?
Mortgage Refinance
Home Equity Loan
Debt Consolidation
New Home Loan
In what state is the property in question located?
What is the property type?