The 100 Best (and Worst) Places to Raise a Family

Ranking from Children's Health Magazine : Parents : The 100 Best (and Worst) Places to Raise a Family.

Methodology is:

we embarked on a comprehensive statistical analysis to rank 100 noteworthy American cities scattered across the country. We considered more than 30 factors that parents deem vitally important, including crime and safety, education, economics, housing, cultural attractions, and health.

Here is ranking. I am surprised to see that San Francisco, the lowest Kids : Adults ratio, in 14th.

1. Burlington VT
2. Madison, WI
3. Fargo, ND
4. Lincoln, NE
5. Fremont, CA
6. Lexington, KY
7. Honolulu, HI
8. Cheyenne, WY
9. Omaha, NE
10. Yonkers, NY
11. Austin, TX
12. St. Paul, MN
13. Jersey City, NJ
14. San Francisco, CA
15. New York, NY
16. Little Rock, AR
17. Washington, DC
18. Minneapolis, MN
19. Colorado Springs, CO
20. Billings, MT
21. Boston, MA
22. Seattle, WA
23. Sioux Falls, SD
24. Pittsburgh, PA
25. Bangor, ME
26. San Diego, CA
27. Albuquerque, NM
28. Raleigh, NC
29. Portland, OR
30. Providence, RI
31. Louisville, KY
32. Manchester, NH
33. Wichita, KS
34. Anchorage, AK
35. Lubbock, TX
36. Boise City, ID
37. Durham, NC
38. Des Moines, IA
39. San Jose, CA
40. Nashville, TN
41. Montgomery, AL
42. Atlanta, GA
43. Spokane, WA
44. Denver, CO
45. Fort Wayne, IN
46. Newark, NJ
47. Aurora, CO
48. El Paso, TX
49. Indianapolis, IN
50. Kansas City, MO
51. Charlotte, NC
52. Charleston, WV
53. Buffalo, NY
54. Oklahoma City, OK
55. Richmond, VA
56. Rochester, NY
57. San Antonio, TX
58. Arlington, TX
59. Columbia, SC
60. Tulsa, OK
61. Greensboro, NC
62. Baton Rouge, LA
63. Norfolk, VA
64. Columbus, OH
65. Anaheim, CA
66. Corpus Christi, TX
67. Jacksonville, FL
68. Los Angeles, CA
69. Fort Worth, TX
70. Chicago, IL
71. Oakland, CA
72. St. Louis, MO
73. Tucson, AZ
74. Cincinnati, OH
75. Riverside, CA
76. Philadelphia, PA
77. Wilmington, DE
78. St. Petersburg, FL
79. Salt Lake City, UT
80. Dallas, TX
81. Houston, TX
82. Jackson, MS
83. Baltimore, MD
84. Bakersfield, CA
85. Hartford, CT
86. Birmingham, AL
87. Milwaukee, WI
88. Sacramento, CA
89. Grand Rapids, MI
90. Modesto, CA
91. Toledo, OH
92. Las Vegas, NV
93. Phoenix, AZ
94. Tampa, FL
95. Cleveland, OH
96. Fresno, CA
97. Memphis, TN
98. Orlando, FL
99. Miami, FL
100. Detroit, MI

It is interesting to note that worst ranked markets are metros in Sunbelt and Rustbelt that are facing horrible economic slowdown......

Happy investing!!!!

America's Most Expensive ZIP Codes - Top 500

Forbes.com has announced 2009 Top 500 Most Expensive Zip Code.

I did some number crunching on their data as follows:

I. Most Expensive Median Sales Price and Price Change
- Top 10 are dominated by the zip code in California dn New York metro area.
- Most of Top 10 zip code has shown declined median price.
* With regard to Brookside and Duarte, since inventory is very small, their price might not be statistically relevant.

ZIP Code City/State Median Price Change
1 7620 Alpine, N.J. $4,139,041 -23%
2 94027 Atherton, Calif. $3,849,133 -26%
3 10014 New York, N.Y. $3,521,514 -24%
4 91008 Duarte, Calif. $3,444,773 ＋18%
5 90210 Beverly Hills, Calif. $3,367,167 -5%
6 92067 Rancho Santa Fe, Calif. $3,362,493 -12%
7 93108 Santa Barbara, Calif. $3,284,652 -9%
8 94024 Los Altos Hills, Calif. $3,277,500 4%
9 10065 New York, N.Y. $3,176,534 -10%
10 7926 Brookside, N.J. $3,121,115 ＋17%

II. Worst 10 Zip Code with Price Decline

- Clarksburg near Sacramento CA has shown the largest decline since Sacrament is one of worst hit metropolitan area.

- Somehow, 4 out of Worst 10 zip code is in New York suburb. I guess significant slump in financial industry affects well-to-do Wall Street executives.

ZIP Code City/State Median Home Price
1. 95612 Clarksburg, Calif. $547,077 -44% （Sacramento CA)
2. 7976 New Vernon, N.J. $2,099,629 -34% (NYC Metro)
3. 11965 Shelter Island Heights, N.Y. $1,856,154 -31% (NYC Metro)
4. 81657 Vail, Colo. $1,724,429 -30%
5. 7931 Far Hills, N.J. $1,733,601 -29% (NYC Metro)
6. 94104 San Francisco, Calif. $1,321,038 -29% (Financial District)
7. 96712 Haleiwa, Hawaii $990,468 -28% (Honolulu Metro)
8. 94960 San Anselmo, Calif. $868,106 -28% (San Francisco Metro)
9. 11559 Lawrence, N.Y. $866,046 -28% (NYC Metro)
10. 91302 Calabasas, Calif. $1,503,358 -27% (LA Metro)

III. Average Days on the Market

- Second home markets such as Olympic Valley, Calistoga, Miami Beach and Tahoe City shows 300+ days to sell.

- It is interesting to note that there are four VA/MD zip code in Washington DC metro.

ZIP Code City/State # Median Price Change Average Days on Market
1. 20129 Paeonian Springs, Va. $734,988 10% 403
2. 96146 Olympic Valley, Calif. $646,600 -19% 381
3. 94515 Calistoga, Calif. $1,335,577 -26% 365
4. 33109 Miami Beach, Fla. $2,484,958 -15% 358
5. 21056 Gibson Island, Md. $3,031,923 3% 354
6. 10069 New York, N.Y. $1,440,500 -4% 317
7. 20143 Catharpin, Va. $740,754 -17% 316
8. 20861 Ashton, Md. $795,358 -5% 313
9. 96145 Tahoe City, Calif. $704,065 -13% 308
10. 94104 San Francisco, Calif. $1,321,038 -29% 307

IV. Zip Code with Highest Median Household Income

- For those who own luxury property, majority of household have significant passive income such as investment, dividend and rental income. However, it seems that there are strong correlation with salaried income as well.

- Having said that, with $200,000 household income, maximum amount you can borrow is only $1 million due to tighter lending. This means, you need to have significant passive income or massive down payment.

ZIP Code City Median Home Price Change Median Household Income
1 33109 Miami Beach, Fla. $2,484,958 -15% $200,001
2 60043 Kenilworth, Ill. $1,948,586 9% $200,001
3 94027 Atherton, Calif. $3,849,133 -26% $200,001
4 92067 Rancho Santa Fe, Calif. $3,362,493 -12% $196,298
5 7078 Short Hills, N.J.　$1,549,129 -6% $185,466
6 10577 Purchase, N.Y.　$2,709,154 -20% $183,686
7 10514 Chappaqua, N.Y. $1,061,020 -6% $173,368
8 60022 Glencoe, Ill. 　$1,092,330 -16% $171,063
9 94028 Portola Valley, Calif.　$2,391,997 3% $164,479
10 11568 Old Westbury, N.Y.　$2,219,483 -10% $163,046

V. Ranking of States that has Most Top 500 Zip Code

- California rules (still)! 270 out of Top 500 most expensive zip code is located in California, followed by NY, NJ, MD, CT, MA, etc....

1. California 270
2. New York 85
3. New Jersey 33
4. Maryland 16
5. Connecticut 15
6. Massachusetts 14
7. Virginia 10
8. Florida 10
9. Illinois 8
10. Colorado/Hawaii/Washington 5

VI. Ranking of Metropolitan Area that has Most Top 500 Zip Code

- San Francisco Bay Area lead with 141 zip codes. This is quite notable as SF Bay Area's population is 1/3 of New York Metro.

- It is also notable that how expensive California's Central Coast (Santa Barbara, Monterrey and San Loius Obispo Metro) real estate properties are, considering there is no significant industry. How can regular people make living in Central Coast????

1. San Francisco Metro 141
2. New York Metro 131
3. Los Angeles Metropo 86
4. Washington DC Meto 29
5. Boston Metro 14
6. San Diego Metro 13
7. Santa Barbara 9
8. Chicago 8
9. San Louis Obispo 7
10. Monterey 7

VII. Ranking of City that has Most Top 500 Zip Code

- New York City (Manhattan) is definitive leader in this category, followed by San Francisco CA.

１. New York, N.Y. 28 (Manhattanのみ）
２. San Francisco, Calif. 18
3.; Los Angeles, Calif. 17
4. San Jose, Calif. 9
5. Santa Barbara, Calif. 7
6. Great Neck, N.Y. 4
6. Newport Beach, Calif. 4
6. Oakland, Calif. 4
6. Santa Monica, Calif. 4

US real estate market decline started with low-end of properties and spreading upward toward luxury housing. Since conforming mortgage limit is $720,000 in the market like SF or Manhattan, I see continuous decline in higher end real estate. We'll see how it goes in 2010!

Happy Investing!!!!

Making Suburbia More Livable by WSJ

Related to my previous posting about mass transit usage and the relationship between housing value and walkability, WSJ has done very interesting article about "Making Suburbia More Livable" by building walkable neighborhood.

Below is the project Mableton, Ga:

Local officials are working on plans to fashion a community where people can live more easily throughout their lifetimes. To that end, the plans call for developing several "nodes":

• 1) New housing and retail space and services would enable residents to age in place.
• 2) An arts center would expand an existing amphitheater and add galleries and live-work units for local artists
• 3) A new town center, coupled with greenways, would make Mableton more pedestrian-friendly.
• 4) A civic center would include wellness and fitness centers.
• 5) A historic area would feature restored homes and a commuter rail stop.
• Details of proposed changes in Mableton (.pdf)

I believe you will see more and more of this type of projects in coming years!

Happy Investing!!!

New Study Shows More Walkable Homes Are Worth More

CEOs For Cities has issued new report about "How Walkability Raises Home Values in U.S. Cities".

This data is compares house value in the neighborhood with "median walkablity" Vs. "75% percentile walkability" using walkability score from www.walkscore.com. For example, in Austin Tx, the house with 75% percentile walkability (74) is $23,871 more valuable Vs. the one in median walkability (62) neighborhood.

Interestingly, in 13 out of 15 metropolitan area, more walkable homes are proven to be worth more (car dependent Las Vegas NV and Bakersfield CA was only exception).

Contribution of Walk Score to Housing Values
Metro	Median	75% Percentile	Walk Score Estimated Housing Gain from Moving to 75% Percentile
Arlington	71	82	19,028
Austin	62	74	24,871
Bakersfield	31	51	-2,242
Charlotte	54	71	33,763
Chicago	86	92	31,562
Dallas	46	51	4,278
Fresno	49	60	7,427
Jacksonville	35	51	12,951
Las Vegas	43	55	-7,157
Phoenix	46	58	18,689
Sacramento	49	62	34,345
San Francisco	57	68	32,837
Seattle	68	82	19,789
Stockton	51	10	10,338
Tucson	51	66	10,841

As I pointed out in previous blog posting about mass transit usage, I think US is slowly moving away from car-dependent suburbia to mass transit oriented walkable neighborhood.

So make sure that you check the walkscore when you purchase your new house!

Happy Investing!!!

Homeowners who 'strategically default' on loans a growing problem

This is article from LA Time about rising number of "strategic defaulters". This is rising trend and I have posted it while back.

Here is the summary of finding!

* The number of strategic defaults is far beyond most industry estimates -- 588,000 nationwide during 2008, more than double the total in 2007. They represented 18% of all serious delinquencies that extended for more than 60 days in last year's fourth quarter.

* Strategic defaulters often go straight from perfect payment histories to no mortgage payments at all. This is in stark contrast with most financially distressed borrowers, who try to keep paying on their mortgage even after they've fallen behind on other accounts.

* Strategic defaults are heavily concentrated in negative-equity markets where home values zoomed during the boom and have cratered since 2006. In California last year, the number of strategic defaults was 68 times higher than it was in 2005. In Florida it was 46 times higher. In most other parts of the country, defaults were about nine times higher in 2008 than in 2005.

* Two-thirds of strategic defaulters have only one mortgage -- the one they're walking away from on their primary homes. Individuals who have mortgages on multiple houses also have a higher likelihood of strategic default, but researchers believe that many of these walkaways are from investment properties or second homes.

* Homeowners with large mortgage balances generally are more likely to pull the plug than those with lower balances. Similarly, people with credit ratings in the two highest categories measured by VantageScore -- a joint scoring venture created by Experian and the two other national credit bureaus, Equifax and TransUnion -- are far more likely to default strategically than people in lower score categories.

* People who default strategically and lose their houses appear to understand the consequences of what they're doing. Piyush Tantia, an Oliver Wyman partner and a principal researcher on the study, said strategic defaulters "are clearly sophisticated," based on the patterns of selective payments observable in their credit files. For example, they tend not to default on home equity lines of credit until after they bail out on their main mortgages, sometimes to draw down more cash on the equity line.

Well, as writer points out at the end of article, it is possible that lender may figure out the way to sniff out "strategic defaulters" from "desperate defaulters". So, if you are doing short sales or apply for loan modifications, you may want to move fast!

Happy Investing!!!

Mass Transit Share by Metropolitan Area

Forbes.com come has posted interesting ranking about "America's Cleanest Commutes", based on American Community Study 2008. And they ranked San Francisco as No.1. While I don't necessarily agree with their methodology, I thought it is interesting to share the "share of commuting method" --- Mass Transit, Car Pool or Drive Alone as follows:

MSA	Mass Transit	Car Pool	Drive Alone
New York City MSA	30%	7%	50%
San Francisco MSA	14%	11%	64%
Washington DC MSA	13%	11%	66%
Trenton-Ewing, N.J.MSA	12%	8%	69%
Chicago MSA	11%	9%	71%
Seattle MSA	8%	12%	69%
Honolulu MSA	8%	16%	64%
Boston MSA	7%	11%	71%
Portland MSA	6%	11%	71%
Los Angeles MSA	6%	12%	73%

The report says that, due to recession, share of mass transit and car pool has increased slightly. But it has LONG way for US to "transit" to energy efficient non-car-dependent society (Yes -- I was raised in Tokyo).

Anyhow, as for the real estate appreciations, I believe those cities with strong mass transit and high walkability will win as 1) more and more people are craving for "walkable" neighborhood and 2) gas price continue to go up and 3) Americans are aging rapidly.

Happy Investing!!!

Food Related Articles

This is for memo purpose.

Great Eating in San Francisco - Carry On - Travel + Leisure http://bit.ly/19LQBc

The 50 best foods in the world and where to eat them | Life and style | The Observer http://bit.ly/ngiFK

Mad Men Manhattan - Articles - Travel + Leisure http://bit.ly/1ePcPd 3 minutes agoMad Men Manhattan - Articles - Travel + Leisure http://bit.ly/1ePcPd

Happy Eating!!!