Overview

10 Year Population Growth Heat Map Local Expert Insights

Coral Springs, FL

• Look in zip code 33065 where there are over 1,000 listings (2/3 foreclosure, 1/3 short sale)

• Single-family homes previously at ~$500k, now selling at $160-$170k, below replacement cost

• 100k, so investors enter this market for under 20k

• Since many families have lost their homes to foreclosure, they are looking to rent and a rental home does not stay on the market more than a week if it’s priced correctlythe market more than a week if it’s priced correctly

• Buying for resale: don’t expect to be able to flip these homes; there’s a lot of supply and the market will remain soft for some time. Plan to hold for at least 2-3 years

Coral Springs is a city on Florida’s southern Atlantic coast, in northeastern Broward County. Coral Springs is thirty minutes northwest of Fort Lauderdale, twenty minutes northwest of Pompano Beach, and fifty minutes northwest of Miami. Coral Springs is thirty-five minutes from Port Everglades, the second busiest cruise port in the world.

Many area schools received the “Five Star School Award” from the Florida Many area schools received the “Five Star School Award” from the Florida Department of Education for exemplary community involvement. The city itself was awarded the Malcom Baldrige National Quality Award in 2007, and continues to garner kudos on a State and regional level.

Overview

School Ratings Heat Map Local Expert Insights

Hialeah, FL

• In Hialeah, you can buy a 1,400 SF home on a small 3,500 SF lot for $200k and in Miami Lakes, you can get a 2,000 SF home on a 5,500 SF lot for $285k

• The unincorporated area has mostly newer homes in planned communities, many that used to sell for $600k can now be pur-chased for $300-325k

• It still takes 30-60 days on average to get homes into escrow due to the tight credit conditions

• New home construction activity has stopped and most of the inventory is REO or short sales

• Opportunity to buy a $50-60k two or three-bedroom condo and rent it for nearly $1,200/month

Founded in 1925, Hialeah is located in Miami-Dade County in southeast Florida. Twenty minutes northwest of Miami and twenty-five minutes north-west of Miami Beach, Hialeah is the fifth largest city in Florida and sits on 20 square miles of land.

Miami-Hialeah was ranked 22nd on Inc. Magazine’s 2004 list of the “Top 25 Cities for Doing Business in America” in the “large cities” category. The Hialeah Fire Department is nationally ranked as Class I; making the top 25 local fire departments in the United States. Hialeah schools also rate very highly in the already region (see heat map).

Overview

Local Expert Insights10 Year Population Growth Heat Map

Bakersfield, CA

• Focus on zip codes 93313, 93312, and 93309 where most of the inventory is REO/foreclosures

• The level of inventory has dropped significantly recently and multiple offers are common. Most new listings are on the market for 30 days or less.

• Approximately 20% of buyers are now investors and 80% are owner-occupants (mostly first time homebuyers) owner-occupants (mostly first time homebuyers)

• Investors are primarily buying the less expensive homes and turning them into rentals

• Schools are generally well-rated and the oil industry is still a primary source of employment in the area

Settled in 1858, Bakersfield is a city of almost 300,000 people, located in inland Southern California, an hour and fifty minutes north of Los Angeles. The city is a both past finalist and winner of the National Civic League’s coveted “All-America City Award”. The city is the 11th fastest growing city in the US and the 11th largest city in California.

Bakersfield provides a wide assortment of arts and cultural offerings, including: The Rabobank Arena Theater & Convention Center, The McMurtrey Aquatics Center, The Bakersfield Symphony Orchestra, The McMurtrey Aquatics Center, The Bakersfield Symphony Orchestra, and The Fox Theatre.

Overview

Local Expert InsightsIncome Smartzip ScoreTM Heat Map

Palmdale, CA

• Supply of homes has dropped significantly, 25% of level just 8-9 months ago

• For older homes that are priced lower, try zip codes 93550, 93534

• For more desirable, newer properties on the west side, try 93551 and 93536

• With the decrease in supply, some lower-priced properties • With the decrease in supply, some lower-priced properties may receive over 20 offers

• Average days on market is now less than 30 (non short sales)

• Rental market is strong as victims of foreclosure are entering the market

Incorporated in 1962, Palmdale is a city of nearly 130,000 people located in northeast Los Angeles County, in Southern California. Palmdale is a little over an hour north of the City of Los Angeles, over the San Gabriel Mountains.

The Antelope Valley Enterprise Zone and the Foreign-Trade Zone both offer businesses friendly state and federal tax breaks through their respective programs.

Overview

Growth SmartZip ScoreTM Local Expert Insights

Antioch, CA

• As of June 28, there were 259 homes for sale (2% short sale, 31% foreclosure)

• Prices are 50-60% of where they were (peak, and have now stabilized)

• Inventory has been steadily decreasing over the last year due to the moratorium on foreclosures, but expect inventory to rise

• Prices have been fairly stable as a result of the decrease in • Prices have been fairly stable as a result of the decrease in supply and homes priced less than $250k have actually seen prices rise as they cash flow positive

• Expect prices to remain at depressed levels for at least another year or two

• The average time for a listing to move from active to pending is only 7 days, but it takes 45 days to move to sold because of a slow short sale process a slow short sale process

The city of Antioch, known as the Gateway to the Delta, is located on the banks of the San Joaquin River in Northern California. It is situated in Contra Costa County, about 45 miles east of San Francisco, 50 miles west of Stockton, and 60 miles southwest of Sacramento.

The City’s location gives it access to employment opportunities in the three The City’s location gives it access to employment opportunities in the three larger cities, and easy access to Bay Area attractions, museums, and com-munity activities. The city has a municipal marina and two public fishing piers, as well as private marinas, boatyards, and yacht clubs.

Overview

Local Expert Insights10 Year Population Growth Heat Map

Roseville, CA

• Recommend zip codes 93765 and 95678 as attractive markets

• Approximately 75% of current listings are either bank-owned or short sales

• Estimate that 70% of investor buyers are buying and holding/renting, but the remaining 30% are still flipping

• Inventory levels are definitely being monitored closely by the • Inventory levels are definitely being monitored closely by the lenders and they are not letting bank-owned property flood the market

• Properties in short sales are being priced aggressively in a declining market so there are typically 10-20 offers on a new listing

Roseville is part of the metropolitan area of Sacramento (the city of Sacramento is 17 miles to Roseville’s southwest). Roseville was an unchallenged railroad center since it’s inception in the 1800’s through to the the 1940’s. By the 1950s the airline and trucking industries also got a foothold.

While transportation is still strong there, today’s Roseville has branched While transportation is still strong there, today’s Roseville has branched out to the electronics industry has made its presence felt with both Hewlett-Packard and NEC Electronics becoming major employers in Roseville and South Placer County.

Overview

Local Expert Insights10 Year Job Growth Heat Map

Port St. Lucie, FL

• Buyers are coming back (est. 50% investors)

• While the inventory level is down from the peak, there is still a lot of supply and approximately 80-90% of listings are either bank-owned or short sale (3 to 1 ratio short sale)

• Prices are still trending down, but at a slower rate of decline, and are likely near bottom

• Recommend zip code 34953 as it is a newer area with lots of • Recommend zip code 34953 as it is a newer area with lots of foreclosure activity, great location between major highways

• Rental market is stable. Active to pending is 30 days on aver age for a foreclosure, 60-90 days for a short sale

• Expect future job growth from biotech firms relocating to the area

Port St. Lucie is equidistant from Miami (to the south) and Orlando (to the northwest). The city has transitioned from a residential community to one of Florida’s fastest growing and dynamic cities. Recreational opportunities are abundant in Port St. Lucie: The beach is only a short drive away, with water-related activities like fishing, canoeing, kayaking, surfing, sailing, as well as activities at many public parks.

Port St. Lucie is home to the Professional Golf Association (PGA) Port St. Lucie is home to the Professional Golf Association (PGA) Learning Center, the PGA Historical Center, and the PGA Golf Professional Hall of Fame.

Overview

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Tracy, CA

• Almost 100% of current supply is either short sale or bank-owned (70% short sale)

• Recommend zip code 95353 for investors

• The market has stabilized some but we are still likely not at the bottom, so expect further price declines

• More bank-owned homes will be hitting the market as lenders stop holding off the foreclosures stop holding off the foreclosures

• Most investors are buying and holding, seeking appreciation or income, not flipping

• Rental market is strong due to foreclosures

• Creates a great buying opportunity if you are willing to hold for a year or two at least

Tracy is located in San Joaquin County, about 60 miles east of San Fran-cisco. Beginning in the 1980s, Tracy experienced growth as people began looking for a more affordable alternative to Bay Area home prices, and a less hectic lifestyle. A steady period of growth ensued, as many companies found Tracy an ideal location for their distribution facilities.

The city today is home to several distribution facilities and is setting its sights on emerging industries, including expansion of hi-tech companies from the Silicon Valley. With a focus on new, emerging technology and silicon valley business, Tracy is positioned well for a recovery.

Overview

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Corona, CA

• Home prices are down 33% in last 14 months, but have stablized in May/June

• Very low inventory level, only 615 listings on MLS (12% REO, 58% short sale)

• Average time from active to pending is 2-3 days and multiple offers are common

• Income play: zip code 92883 • Income play: zip code 92883 (specifically Sycamore Creek community) where there are many 2-3 year old homes with a high spec level, elementary school, ~3,000 SF of living space, priced in the mid-$300k range that rent for $2,200 to $2,500 per month

• For lower priced, older homes, try zip code 92879 for homes with 1,200 to 1,500 SF of living space, priced in the $150k range $150k range

Founded in 1896, Corona is located in Southern California in Riverside County and is a city of over 131,000 people. Corona is approximately fifty minutes southeast of Los Angeles and thirty minutes northeast of Long Beach. It is near the Cleveland National Forest and in a region known as the “Inland Empire”.

In recent years, Corona has become a bedroom community for Orange In recent years, Corona has become a bedroom community for Orange County and the larger cities of the Inland Empire. The development of commerce and industry in the city has been accelerated by congestion on the Riverside Freeway, with many firms leaving northern Orange County to be closer to their employees’ homes in Corona and Riverside.

Overview

Local Expert Insights10 Year Job Growth Heat Map

Temecula, CA

• Residents attracted to the high quality of life and low cost of living, nice neighborhoods, great weather, wine region, lots of open space, and low crime rate

• Very affordable, bedroom community with home prices now in the $90 to $110 per square foot range, attracting couples and young families who want to own their own homes

• Low inventory level means that homes are now selling as fast • Low inventory level means that homes are now selling as fast as they come on the market with multiple offers

• Short sales may remain active in the MLS after an offer is submitted to the bank, making supply appear larger than actual

Temecula is a city located in the southwestern part of Riverside County, California. Temecula lies about 86 miles southeast of Los Angeles and 60 miles north of San Diego.

The community grew steadily through the 20th century, with dramatic The community grew steadily through the 20th century, with dramatic changes taking place in the 1970s following the onset of large-scale subdi-vision and the development of real estate. Temecula today is the site of one of California’s oldest wineries, and Temecula Valley serves as one of the state’s small but significant wine producing regions.