You Paid Too Much
If you just bought a second home in Naples, Fla. you probably paid nearly double what the property is really worth.
A Barron's study based on info from National City, a Cleveland banking and mortgage outfit, says homes there are overvalued by 96 %. Second on the list is Port St. Lucie/Fort Pierce, Fla. Top 10 overvalued cities include Tucson, Prescott and Phoenix in Arizona; Bend, Ore.; Napa, Calif.; Barnstable, Mass.; and Ocean City and Atlantic City, N.J.
Labels: Arizona, Atlantic City, Barnstable, Bend, Florida, Fort Pierce, Massachusetts, Napa, Naples, New Jersey, Ocean City, Phoenix, Port St. Lucie, Prescott, Prices, real estate investing, second homes, Tucson