Appreciation for MSAs:.

Comparing the real estate investment appreciation rates between a MSAs and their state can give you a lot of insight.
The state appreciation level can be a good benchmark for comparing an individual MSAs perfomance.

If we analyze Bangor, Maine MSA appreciation it was + 25.28% (+ 8.43% yearly) from 2000 to 2002.

During the same time period, ME had + 29.85% (+ 9.95% yearly). From 2000 to 2002, Maine outperformed the individual Bangor, Maine MSA. Do your research to try and determine why this MSA did not perform as well as the rest of the state.

Bangor-ME

YearQuarterPrice IndexQuarter Increase or DecreaseAnnualized
2000 2 113.38 + 4.10% + 16.42%
2000 3 114.88 + 1.32% + 5.29%
2000 4 115.92 + 0.91% + 3.62%
2001 1 121.68 + 4.97% + 19.88%
2001 2 119.73 - 1.60% - 6.41%
2001 3 123.03 + 2.76% + 11.02%
2001 4 126.23 + 2.60% + 10.40%
2002 1 127.14 + 0.72% + 2.88%
2002 2 128.31 + 0.92% + 3.68%
2002 3 134.61 + 4.91% + 19.64%
2002 4 136.44 + 1.36% + 5.44%


Now is a great time to buy and fix up real estate in many areas. Foreclosures are on the rise so there are deals to be had. If you are considering purchasing and rehabbing a property, appreciation rates are important to consider. If you feel like this is a good area to purchase foreclosure property for rehab, check out Hard Money Rehab Loan Information at Spec-Loan.com. Its important to do your homework before taking on any type of real estate purchase.

If you were going to do a Bangor, Maine Refinance, or Bangor, Maine Reverse Mortgages, you could estimate your home value.

If you knew your Bangor, Maine home was worth $102,000.00 in 2000, you could multiply by + 25.28%, add the gain and see the home should be worth $127,783.31 in 2002. Home value is an important part of every mortgage transaction.


Average YEARLY Real Estate Appreciation for Bangor-ME from 2000 to 2002:
+ 8.43%

Appreciation Comparisons

In contrast, the worst 5 MSAs from 2000 to 2002 were Wenatchee-WA, Lafayette-IN, Springfield-IL, Ogden-Clearfield-UT, and Provo-Orem-UT .

  1. Wenatchee-WA only increased + 5.30% between 2000 and 2002
  2. Lafayette-IN only increased + 7.07% between 2000 and 2002
  3. Springfield-IL only increased + 7.12% between 2000 and 2002
  4. Ogden-Clearfield-UT only increased + 7.34% between 2000 and 2002
  5. Provo-Orem-UT only increased + 7.67% between 2000 and 2002

The worst perfoming MSAs ever for a 3 year period, were Grand-Junction-CO, Lafayette-LA, Honolulu-HI, Fairbanks-AK, and Lafayette-LA .

  1. Grand-Junction-CO lost - 34.69% from 1983 to 1985
  2. Lafayette-LA lost - 31.84% from 1985 thru 1987
  3. Honolulu-HI lost - 30.81% from 1979 thru 1981
  4. Fairbanks-AK lost - 29.16% from 1987 thru 1989
  5. Lafayette-LA lost - 28.50% from 1986 thru 1988

Zip Code in MSA: 4401 - BANGOR, ME

MSA Pop: 146982
Zip Pop: 40358
Avg Value: 85600
County: PENOBSCOT
Elev: 158
Region: Northeast
Lat: 44.816283
Long: -68.778771