Palm Bay - Melbourne - Titusville Identified by Forbes as #18 Best Bang for the Buck Cities

Location, location, location!  Wow, another endorsement for homeownership in Brevard County!  Back in August I blogged about Melbourne Beach being ranked #6 out of the Top 20 Best Neighborhoods to Retire.  Now, Forbes.com has listed the Palm Bay-Melbourne-Titusville Metro area #18 out of the top 100 Best Bang For the Buck Cities. When collecting their statistics for the list, Forbes looked at a number of factors including vacancies, unemployment rates, a three-year job growth forecast, a three year home price forecast, housing affordability, and median travel time to work.  They then located healthy housing markets by looking at metros where foreclosures were no longer a big part of the local market signaling a potential bottoming out.  While Florida has generally been a state negatively affected by the subprime loan debacle along with the home building and buying craze, this area along the Space Coast is the only metro area in Florida to make the top 20 list.  Reasons for this endorsement are its affordability and convenience (it ranks #7 on the home price index, and #10 for travel time to work).  All these factors point to a bounce back in the next three years according to Moody's Investor Services, which performed a three year forecast on markets that economists thought would improve most in the near future.  So, what are you waiting for?  If you are looking for a desirable place to retire or relocate, pay us a visit and see what all the talk is about.  If you currently live in the area, this is good news for those contemplating the purchase of their first home.  For those thinking about upsizing or downsizing, this too is an excellent sign that the time may be right to make that move.