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Whether they’re dropping $10 or $100,000, consumers usually want to know they’re getting the most “bang for their buck.” Of course, what you get for your money can range from brand to brand or store to store. Likewise, what you end up getting in housing markets across the U.S. can vary dramatically.
Currently, the median home value across the U.S. sits at $146,900. In light of that, here’s a snapshot of homes for sale for $150,000 (plus or minus $5,000) in five cities:
|A three-bedroom home in Charlotte's prestigious Ballantyne area. |
With major financial institutions such as Bank of America and Wachovia calling Charlotte home, the city has been a longtime hub of relocation activity, which could in turn help relocation sales. Despite home values declining 6.8 percent year over year, the city has modest growth in home values since last quarter, and median Charlotte home values remain affordable at $125,600.
This 3-bedroom, 2.5-bath home on the Charlotte real estate market is located in Southampton Commons in south Charlotte’s prestigious Ballantyne area. The home has an open-concept floor plan and features a large great room with gas fireplace, master bedroom with en suite bathroom, and one-car garage. Amenities at Southampton Commons include a pool, clubhouse, playground, sitting parks, and nature trails.
|The three-bedroom Houston home was built in 2005. |
According to 2010 Census data, Houston grew 7.5 percent, up to a population of 2.1 million, to sit secure in its spot as the fourth-largest city in the U.S. The Houston housing market held to positive territory as 2012 began, with January marking the eighth consecutive month of increased home sales. Median home values in Houston have settled at around $159,000.
For $150,000, this 3-bedroom, 2.5-bath Houston home for sale could be yours. Built in 2005, the one-of-a-kind home has been fully customized and upgraded with features such as cherry hardwood floors throughout, high-efficiency insulation, granite slab showers and a covered dream patio. Current low mortgage rates make this home’s monthly payment around $550 with a 20 percent down payment and 30-year-fixed mortgage.
|A three-bedroom bungalow in suburban Atlanta. |
While the sprawling metro is still a major hub for the south, the economy has dropped prices of Atlanta single-family homes12.8 percent compared with a year earlier. Still an attractive city to musicians and millionaires alike, it’s possible to snag a prime piece of Atlanta real estate for a steal.
While A-listers and music stars have multi-million-dollar mansions and condos in downtown Atlanta, you can pick up a relatively new home on the more suburban Riverside real estate market for under $150,000. This 3-bedroom, 2-bath bungalow was built in 2003 and features finished hardwoods, vaulted ceilings, a large dining area, and large front porch with unobstructed views.
|This brick home includes four bedrooms and 2,224 square feet. |
The Nashville housing market saw improved job growth and inventory levels during the fourth quarter, which shows positive signs for 2012. Analysts are attributing low mortgage rates and high rental costs to the list of factors that could end up driving potential buyers into the market this year. With the Nashville real estate market stabilizing, there are plenty of great deals on homes attracting more than just country music stars and pro athletes.
Located just 11 miles southeast of Nashville, in the small town of Antioch, is this smart and trimmed brick “Venice-style” home that offers 2,224 square feet of living space with 4 bedrooms and 3 bathrooms. Nine-foot ceilings, oversized bedrooms and an enormous open kitchen offers a comfortable sense of space.
|This ranch-style Phoenix home has five bedrooms. |
House sales in Phoenix have been rising for the 12th straight month on a year-over-year basis, and distressed real estate accounted for the smallest share of purchases since 2008. However, Phoenix led the 25 largest U.S. metropolitan areas with two-thirds of its mortgaged homes in negative equity at the end of the third quarter and steep discounts have lured investors and bargain hunters to Phoenix in hopes of capitalizing on the real estate overhang. Current Phoenix median home values are significantly below the national level, hovering around $119,000.
Priced just under the U.S. median home value, this 5-bedroom, 2.5-bath house recently took a $5,000 price cut. Built in 1965, the home has had numerous upgrades. The Phoenix home for sale is a ranch-style home and features an open floor plan, as well as a backyard pool for cooling off during those summer heat waves.