Real Estate Appreciation for Elmira, New York: - 1.75%
Appreciation for MSAs:.
The state appreciation level can be a good benchmark for comparing an individual MSAs perfomance.
If we analyze Elmira, New York MSA appreciation it was - 1.75% (- 0.44% yearly) from 1994 to 1997.
During the same time period, NY had + 2.27% (+ 0.57% yearly).
From 1994 to 1997, New York outperformed the individual Elmira, New York MSA. Do your research to try and determine why this MSA did not perform as well as the rest of the state.
Elmira-NY
| Year | Quarter | Price Index | Quarter Increase or Decrease | Annualized |
| 1994 | 2 | 101.75 | - 3.90% | - 15.60% |
| 1994 | 3 | 99.37 | - 2.34% | - 9.36% |
| 1994 | 4 | 99.91 | + 0.54% | + 2.17% |
| 1995 | 1 | 100 | + 0.09% | + 0.36% |
| 1995 | 2 | 94.84 | - 5.16% | - 20.64% |
| 1995 | 3 | 100.31 | + 5.77% | + 23.07% |
| 1995 | 4 | 104.36 | + 4.04% | + 16.15% |
| 1996 | 1 | 103.03 | - 1.27% | - 5.10% |
| 1996 | 2 | 102.43 | - 0.58% | - 2.33% |
| 1996 | 3 | 103.79 | + 1.33% | + 5.31% |
| 1996 | 4 | 103.44 | - 0.34% | - 1.35% |
| 1997 | 1 | 98.49 | - 4.79% | - 19.14% |
| 1997 | 2 | 103.59 | + 5.18% | + 20.71% |
| 1997 | 3 | 105.3 | + 1.65% | + 6.60% |
| 1997 | 4 | 104.03 | - 1.21% | - 4.82% |
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 Chemung, New York Refinance, or Chemung, New York Reverse Mortgages, you could estimate your home value.
If you knew your Chemung, New York home was worth $91,000.00 in 1994, you could multiply by - 1.75%, add the gain and see the home should be worth $89,409.99 in 1997. Home value is an important part of every mortgage transaction.
Average YEARLY Real Estate Appreciation for Elmira-NY from 1994 to 1997:
- 0.44%
Appreciation Comparisons
In contrast, the worst 5 MSAs from 1994 to 1997 were Honolulu-HI, Utica-Rome-NY, Binghamton-NY, Riverside-San-Bernardino-Ontario-CA, and Kingston-NY .
- Honolulu-HI decreased by - 14.47% between 1994 and 1997
- Utica-Rome-NY decreased by - 12.23% between 1994 and 1997
- Binghamton-NY decreased by - 9.70% between 1994 and 1997
- Riverside-San-Bernardino-Ontario-CA decreased by - 8.40% between 1994 and 1997
- Kingston-NY decreased by - 6.47% between 1994 and 1997
The worst perfoming MSAs ever for a 4 year period, were Lafayette-LA, Grand-Junction-CO, Lafayette-LA, Casper-WY, and Casper-WY .
- Lafayette-LA lost - 34.71% from 1985 to 1988
- Grand-Junction-CO lost - 34.70% from 1982 thru 1985
- Lafayette-LA lost - 34.44% from 1984 thru 1987
- Casper-WY lost - 34.10% from 1983 thru 1986
- Casper-WY lost - 32.07% from 1984 thru 1987
Zip Code in MSA: 14825 - CHEMUNG, NY
MSA Pop: 90413Zip Pop: 918
Avg Value: 62200
County: CHEMUNG
Elev: 873
Region: Northeast
Lat: 42.047481
Long: -76.61873