Wednesday, February 24, 2010

Asheville, Hickory & Wilmington: Overvalued cities?

A new study that lists the most overvalued and undervalued places to live in America places Asheville, Hickory and Wilmington in the "bad" column.

"A CNN website rating 330 cities across the country shows Wilmington is a bad deal for real estate, ranked 15th on the list," says WECT.

[Click here to see America's most overvalued cities]

While the study may or may not be accurate, experts agree that when you look into the details of how the research was compiled, you can see why Wilmington is near the top of the list.

Economist Dr. William Hall says bad loans are to blame, but also believes things are improving.

"Things are not declining as much as they have in the past," said Hall. "In fact, sales have may in fact stabilize, or beginning to increase. I'm not so sure prices have reached their low point but they are close to it."

The good news -- from the state's standpoint -- is a number of N.C. cities are on the undervalued list. Among those are Burlington, Charlotte, Durham, Fayetteville, Greensboro, Greenville, Raleigh, Rocky Mount and Winston-Salem.

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