The 10 Least Expensive Houses in the 10 Most Expensive Zip Codes
The first rule of real estate is location, location, location. Why? A home can be enlarged, repaired, renovated, updated and upgraded but it cannot be picked up and moved to a better or more desirable location. The "best" location is subjective, but certainly one of the best locations to buy real estate is in one of the 10 most expensive zip codes in the U.S. — if you can afford it. According to data combined by Forbes, the 10 most expensive zip codes in the U.S. have an astonishing combined median home price average of $3,454,392. All 10 of the most expensive zip codes are located in just three areas: California, New York and its less sexy but still expensive neighbor New Jersey. The bad economy and slumping housing market have touched even the most affluent communities. Of the 10 most expensive zip codes in the country, only three saw price gains in 2009 and the other seven saw drops ranging from a not so bad 5% to a painful 26%. With real estate prices still on the decline and interest rates low, is it a good time to buy into one of the top 10 most expensive zip codes? It is possible to buy in most of the country’s priciest communities for far less than the median home price but the cold hard truth of the matter is that in most cases, it still takes a way above average income to buy even the least expensive property in one of the most expensive zip codes. Photo Credit: sashafatcat
Dubai has claimed its place as a new home to luxury and high-end lifestyles. Its housing market is no different. Here, MainStreet highlights several homes that make American mansions look like dollhouses.