Top 10 Cities for a Real Estate Bargain

Bargain hunters, get ready

Today, Zillow.com and Good Morning America uncovered what they’ve deemed the “Top 10 cities to bargain for a house.”

Zillow said that to determine the list, several factors were considered “including where buyers were able to negotiate the biggest discount off the last list price, days listed on Zillow, Zillow Home Value Index, and percentage of foreclosure resales.”

The top ten cities:

1. Naples, FL
2. Cape Cod, MA
3. Charleston, SC
4. Merced, CA
5. Chicago, IL
6. Atlantic City, NJ
7. Cleveland, OH
8. New York City, NY
9. Flagstaff, AZ
10. Pittsburgh, PA

Each of these cities is quite different than the other, not only in the makeup of each metro area, but in their median prices, average style of home, lifestyle offerings and more, yet the indices show negotiation power for buyers in these areas- in the #1 city, buyers average the ability to negotiate 7% off of the home price.

If you practice in one of these areas, do you find home prices negotiated down frequently? What other factors would you look at for a list such as this?