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The Cheapest Places To Live In America.

Cheapest Places to live in America start with looking in Texas and Arkansas.

Five of the ten cheapest cities in the U.S. can be found in Texas and Arkansas.
If you’re looking for affordable places to live, start your search in Texas and Arkansas. Five of the ten cheapest cities in the U.S. can be found in those two states. The rest of the cities are scattered across the nation’s midsection, from as far west as Idaho to as far east as Tennessee. Some might come as a surprise.We compiled our list based on the Council for Community and Economic Research’s calculations of living expenses in 307 urban areas. Its Cost of Living Index measures prices for housing, groceries, utilities, transportation, health care, and miscellaneous goods and services. We screened out cities with population below 50,000. All ten finalists, while different in many ways, shared one overarching similarity: super-affordable housing options for renters and homeowners alike.Take a look at our list of the ten cheapest places to live.
10. Idaho Falls, IdahoCost of Living: 12% below average

City Population: 57,646

Median Household Income: $45,990 (U.S.: $52,762)

Median Home Value: $146,900 (U.S.: $186,200)

With the Teton Range to the east and overall housing expenses a full 29.2% below the national average, Idaho Falls residents can afford big views on tiny budgets. In fact, affordable housing is the single biggest contributor to the small city’s low cost of living. Not only do homeowners reap the benefits of modest real estate prices, but apartment renters can enjoy the same panoramic views for just $655 a month, on average. (Nationwide, typical rent for an apartment is $870.) And yes, potatoes are cheap in Idaho Falls — 26% cheaper than the national average, to be precise.

What $300K Buys You Now
9. Conway, Ark.

Cost of Living: 12.1% below average

City Population: 60,470

Median Household Income: $44,745

Median Home Value: $147,400

Conway is just 30 miles north of Little Rock, but it’s a world away when it comes to living costs. The city is nestled between Lake Conway and the Arkansas River, and everything from health care to utilities to housing is cheaper in Conway than in the state capital. Medical services are a particular bargain. A visit to the doctor runs about 17% less than the national average, and a dental checkup costs 23% less. Another eye-opening health savings: A trip to the optometrist is nearly 19% cheaper than you’d typically find elsewhere in the U.S.
8. Springfield, Ill.

Cost of Living: 12.3% below average

City Population: 117,076

Median Household Income: $48,022

Median Home Value: $114,100

Abraham Lincoln, the president whose image graces the humble penny, slept here — a good omen of the Illinois capital’s affordability. The median home value falls an enviable 39% below the U.S. median. More telling, you can buy a house in Springfield for less than half the cost of a house in Chicago. Dollars stretch even further thanks to modest utility costs (electricity, phone service and the like), which fall 15.2% below the national average.
7. Pueblo, Colo.

Cost of Living: 12.9% below average

City Population: 107,577

Median Household Income: $34,750

Median Home Value: $118,400

Pueblo, a small city in southern Colorado about 100 miles from Denver, is a perennial contender whenever we look for the cheapest places to live. The median home value, for example, is just half that of the state as a whole. But low living expenses come with a trade-off. Pueblo’s median household income is the lowest on our list and 34% lower than the nation’s. At 22%, the share of the population living below the poverty line is nearly double Colorado’s poverty rate. Unemployment hovers north of 10%.

QUIZ: How Smart a Home Buyer Are You?
6. Wichita Falls, Texas

Cost of Living: 13.6% below average

City Population: 103,931

Median Household Income: $42,559

Median Home Value: $90,500

Wichita Falls has the second-lowest home values on our list of cheap cities, and a typical apartment goes for just $565, $305 less than the national average. To put that rental figure in perspective, the average apartment in Manhattan will set you back $3,902 a month. But income is solid relative to the city’s reasonable across-the-board living expenses, and the unemployment rate is low. Sheppard Air Force Base is a top employer of Wichita Falls residents and a major contributor to the regional economy.
5. Fayetteville, Ark.

Cost of Living: 14% below average

City Population: 75,102

Median Household Income: $35,970

Median Home Value: $177,900

This low-cost city lies in the northwestern corner of Arkansas, a short hop from Missouri, Oklahoma and the Ozark National Forest. Fayetteville is best known for being home to the University of Arkansas, a major local employer. While salaries aren’t big, unemployment in the Fayetteville area is below the national average. It doesn’t hurt that Wal-Mart is based in nearby Bentonville. Paychecks stretch further thanks to Fayetteville’s particularly low housing, transportation and utility costs.
4. Memphis, Tenn.

Cost of Living: 14% below average

City Population: 652,050

Median Household Income: $37,072

Median Home Value: $99,000

Memphis is a big city — it’s the biggest in Tennessee and has over half a million more residents than the next-largest city on this list (McAllen, Texas). Yet it doesn’t have big-city prices. You can buy a home in Memphis for less than $100,000, a price tag that’s hard to match in a comparably sized city. Proximity to the Mississippi River makes it a hub for the shipping and transportation industries. Memphis is home to three Fortune 500 companies (FedEx, International Paper and AutoZone), numerous colleges and universities, mouthwatering ribs and, of course, Graceland.

6 Fabulous Prefab Homes
3. Norman, Okla.

Cost of Living: 14.4% below average

City Population: 113,273

Median Household Income: $46,595

Median Home Value: $147,100

Lying just south of Oklahoma City, Norman enjoys a unique combination of low unemployment, low living expenses and high incomes. Housing and health care are particularly affordable. Apartments rent for $647 a month, on average — $100 less than in Oklahoma City — and a doctor’s visit costs 21% less in Norman than in the state capital. The city is home to the National Weather Center, which is fitting considering that Norman sits in the heart of tornado country.
2. McAllen, Texas

Cost of Living: 14.6% below average

City Population: 133,742

Median Household Income: $39,193

Median Home Value: $105,300

McAllen, which sits in the southern tip of Texas along the Rio Grande, has close ties to Mexico, both geographically and culturally. Nearly 85% of the residents are Hispanic, 78.9% speak a language other than English at home, and 28.6% are foreign-born. There are busy border crossings between McAllen and Reynosa, the adjacent Mexican city that’s seen its fair share of drug violence. And it’s a closer drive to Monterrey, Mexico (about three hours away) than to San Antonio (four hours) or Houston (six hours). Area unemployment is high, but living costs are low, especially for housing and groceries.
1. Harlingen, Texas

Cost of Living: 18.2% below average

City Population: 66,122

Median Household Income: $35,267

Median Home Value: $77,900

Head east toward the Gulf of Mexico from McAllen, number two on our list, and you’ll soon run into Harlingen, another South Texas city with ultra-low living costs. Cheap housing is a big factor in its affordability, but so are cheap groceries. Of the 307 urban areas we looked at, only Corpus Christi and San Antonio, also in Texas, have cheaper groceries than Harlingen. But affordability doesn’t necessarily equate to prosperity. Near- double-digit unemployment contributes to the city’s 32% poverty rate, nearly double the statewide mark of 17%. The median household income for Harlingen trails the nation by a full $17,500.

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Ten Cheapest Places To Live In America Start In Texas and Arkansas.

Affordable Places to Live, move to Arkansas or Texas!

Texas Most Affordable Place To Live!

Texas Most Affordable Place To Live!

If you’re looking for affordable places to live, start your search in Texas and Arkansas. Five of the ten cheapest cities in the U.S. can be found in those two states. The rest of the cities are scattered across the nation’s midsection, from as far west as Idaho to as far east as Tennessee. Some might come as a surprise.We compiled our list based on the Council for Community and Economic Research’s calculations of living expenses in 307 urban areas. Its Cost of Living Index measures prices for housing, groceries, utilities, transportation, health care, and miscellaneous goods and services. We screened out cities with population below 50,000. All ten finalists, while different in many ways, shared one overarching similarity: super-affordable housing options for renters and homeowners alike.Take a look at our list of the ten cheapest places to live.
10. Idaho Falls, Idaho

Cost of Living: 12% below average

City Population: 57,646

Median Household Income: $45,990 (U.S.: $52,762)

Median Home Value: $146,900 (U.S.: $186,200)

With the Teton Range to the east and overall housing expenses a full 29.2% below the national average, Idaho Falls residents can afford big views on tiny budgets. In fact, affordable housing is the single biggest contributor to the small city’s low cost of living. Not only do homeowners reap the benefits of modest real estate prices, but apartment renters can enjoy the same panoramic views for just $655 a month, on average. (Nationwide, typical rent for an apartment is $870.) And yes, potatoes are cheap in Idaho Falls — 26% cheaper than the national average, to be precise.

What $300K Buys You Now
9. Conway, Ark.

Cost of Living: 12.1% below average

City Population: 60,470

Median Household Income: $44,745

Median Home Value: $147,400

Conway is just 30 miles north of Little Rock, but it’s a world away when it comes to living costs. The city is nestled between Lake Conway and the Arkansas River, and everything from health care to utilities to housing is cheaper in Conway than in the state capital. Medical services are a particular bargain. A visit to the doctor runs about 17% less than the national average, and a dental checkup costs 23% less. Another eye-opening health savings: A trip to the optometrist is nearly 19% cheaper than you’d typically find elsewhere in the U.S.
8. Springfield, Ill.

Cost of Living: 12.3% below average

City Population: 117,076

Median Household Income: $48,022

Median Home Value: $114,100

Abraham Lincoln, the president whose image graces the humble penny, slept here — a good omen of the Illinois capital’s affordability. The median home value falls an enviable 39% below the U.S. median. More telling, you can buy a house in Springfield for less than half the cost of a house in Chicago. Dollars stretch even further thanks to modest utility costs (electricity, phone service and the like), which fall 15.2% below the national average.
7. Pueblo, Colo.

Cost of Living: 12.9% below average

City Population: 107,577

Median Household Income: $34,750

Median Home Value: $118,400

Pueblo, a small city in southern Colorado about 100 miles from Denver, is a perennial contender whenever we look for the cheapest places to live. The median home value, for example, is just half that of the state as a whole. But low living expenses come with a trade-off. Pueblo’s median household income is the lowest on our list and 34% lower than the nation’s. At 22%, the share of the population living below the poverty line is nearly double Colorado’s poverty rate. Unemployment hovers north of 10%.

QUIZ: How Smart a Home Buyer Are You?
6. Wichita Falls, Texas

Cost of Living: 13.6% below average

City Population: 103,931

Median Household Income: $42,559

Median Home Value: $90,500

Wichita Falls has the second-lowest home values on our list of cheap cities, and a typical apartment goes for just $565, $305 less than the national average. To put that rental figure in perspective, the average apartment in Manhattan will set you back $3,902 a month. But income is solid relative to the city’s reasonable across-the-board living expenses, and the unemployment rate is low. Sheppard Air Force Base is a top employer of Wichita Falls residents and a major contributor to the regional economy.
5. Fayetteville, Ark.

Cost of Living: 14% below average

City Population: 75,102

Median Household Income: $35,970

Median Home Value: $177,900

This low-cost city lies in the northwestern corner of Arkansas, a short hop from Missouri, Oklahoma and the Ozark National Forest. Fayetteville is best known for being home to the University of Arkansas, a major local employer. While salaries aren’t big, unemployment in the Fayetteville area is below the national average. It doesn’t hurt that Wal-Mart is based in nearby Bentonville. Paychecks stretch further thanks to Fayetteville’s particularly low housing, transportation and utility costs.
4. Memphis, Tenn.

Cost of Living: 14% below average

City Population: 652,050

Median Household Income: $37,072

Median Home Value: $99,000

Memphis is a big city — it’s the biggest in Tennessee and has over half a million more residents than the next-largest city on this list (McAllen, Texas). Yet it doesn’t have big-city prices. You can buy a home in Memphis for less than $100,000, a price tag that’s hard to match in a comparably sized city. Proximity to the Mississippi River makes it a hub for the shipping and transportation industries. Memphis is home to three Fortune 500 companies (FedEx, International Paper and AutoZone), numerous colleges and universities, mouthwatering ribs and, of course, Graceland.

6 Fabulous Prefab Homes
3. Norman, Okla.

Cost of Living: 14.4% below average

City Population: 113,273

Median Household Income: $46,595

Median Home Value: $147,100

Lying just south of Oklahoma City, Norman enjoys a unique combination of low unemployment, low living expenses and high incomes. Housing and health care are particularly affordable. Apartments rent for $647 a month, on average — $100 less than in Oklahoma City — and a doctor’s visit costs 21% less in Norman than in the state capital. The city is home to the National Weather Center, which is fitting considering that Norman sits in the heart of tornado country.
2. McAllen, Texas

Cost of Living: 14.6% below average

City Population: 133,742

Median Household Income: $39,193

Median Home Value: $105,300

McAllen, which sits in the southern tip of Texas along the Rio Grande, has close ties to Mexico, both geographically and culturally. Nearly 85% of the residents are Hispanic, 78.9% speak a language other than English at home, and 28.6% are foreign-born. There are busy border crossings between McAllen and Reynosa, the adjacent Mexican city that’s seen its fair share of drug violence. And it’s a closer drive to Monterrey, Mexico (about three hours away) than to San Antonio (four hours) or Houston (six hours). Area unemployment is high, but living costs are low, especially for housing and groceries.
1. Harlingen, Texas

Cost of Living: 18.2% below average

City Population: 66,122

Median Household Income: $35,267

Median Home Value: $77,900

Head east toward the Gulf of Mexico from McAllen, number two on our list, and you’ll soon run into Harlingen, another South Texas city with ultra-low living costs. Cheap housing is a big factor in its affordability, but so are cheap groceries. Of the 307 urban areas we looked at, only Corpus Christi and San Antonio, also in Texas, have cheaper groceries than Harlingen. But affordability doesn’t necessarily equate to prosperity. Near- double-digit unemployment contributes to the city’s 32% poverty rate, nearly double the statewide mark of 17%. The median household income for Harlingen trails the nation by a full $17,500.

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If you were in Foreclosure between 2009 and 2010 you may be getting a payment from your lender.

Foreclosure Payments/Settlements are from a $9 billion dollar settlement betweeen banking redulators over the Robo Signing Scandal.

Borrowers who were in the foreclosure process in 2009 and 2010 may want to watch their mailboxes closely starting mid-April.

Federal officials have sent out postcards to more than 4 million people across the nation to let them know cash is coming their way — part of a $9.3 billion deal between banking regulators and mortgage servicers that settle foreclosure-abuse allegations.

The allegations center on robo-signing, the bank practice of approving loan paperwork with little or no approval.

Expected payment amounts range from a few hundred dollars to $125,000, depending on the possible wrongdoing in each case, said the Office of the Comptroller of the Currency. A wrongly assessed fee would likely merit the minimum compensation, while a wrongful foreclosure could secure the maximum, a spokesman for the Office of the Comptroller of the Currency said in a previous interview with U-T San Diego.

Consumers did not have to fill out paperwork to receive these payments. Also, by taking the money, borrowers are not waiving their rights to pursue legal cases against those servicers, regulators said.

The settlement, originally pegged at $8.5 billion in January, replaced a costly and lengthy process that let borrowers request free foreclosure reviews. That process encountered a host of issues, from lack of participation to drawn-out review processes. Regulators got a total of 495,000 requests out of 4 million-plus solicitations. At least 56,000 of those came from San Diego County.

The new deal involves $3.6 billion in cash payments and the rest in mortgage assistance to people whose primary homes were at any point of the foreclosure process and whose loans were serviced by any of these companies:

America’s Servicing Company, Countrywide, PNC Mortgage, Aurora Loan Services, EMC Mortgage Corporation, Saxon Mortgage, BAC Home Loans Servicing, Goldman Sachs, Sovereign Bank, Bank of America, HFC, SunTrust Mortgage, Beneficial, HSBC, U.S. Bank, Chase, Litton Loan Servicing, Wachovia Mortgage, Citibank, MetLife Bank, Washington Mutual, CitiFinancial, Morgan Stanley  Wells Fargo Bank, CitiMortgage, National City Mortgage and Wilshire Credit Corporation.

Borrowers will likely get letters from Rust Consulting, Inc., the consultant hired by regulators, within the next three to seven weeks. Others may be asked to provide tax information before a payment can be sent.

If you have questions on the settlement, call Rust Consulting at (888) 952-9105. If you want to read more about the foreclosure settlement, visit occ.gov/independentforeclosurereview.

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San Diego Property Auction in San Diego Yields $3.5 Million Dollars.

San Diego Property Auction sold off more than 60 properties that were owned by delinquent taxpayers.

656 Seacoast Drive in Imperial Beach sold at public auction for $472,000.

656 Seacoast Drive in Imperial Beach sold at public auction for $472,000.

San Diego County has auctioned off more than 60 properties that belonged to delinquent taxpayers, raking in nearly $3.5 million, said the tax collector’s office on Monday.The purpose of the annual auction, which was held last week, is to recover unpaid property taxes and pay lenders and creditors, said San Diego County Treasurer-Tax Collector Dan McAllister.The parcels belonged to people who hadn’t paid their taxes for five years.2008 marked the height of the county’s foreclosure crisis. Residential foreclosures peaked July 2008 at more than 2,000 in the county, DataQuick numbers show.”We find ourselves in a unique position in the status of the economy,” McAllister said. “These are properties, in many cases, that have come to us by way of a down economy.”

The amount raised at auction this year reached at least a five-year peak mainly because higher-quality homes and land parcels hit the auction block, McAllister said.

Sales rose nearly 30 percent from last year, from 48 to 62, but the year-over-year increase in money recovered increased 131 percent, from $1.5 million to almost $3.5 million.

Records show the priciest property, a house in Imperial Beach, sold for $472,000. Last year, the most expensive sale was about $425,000, McAllister said. Typical buyers are investors, some of whom flip several properties at a time.

The nearly $3.5 million brought in this year will cover roughly $876,000 in unpaid taxes for the sold parcels, the administrative costs of putting on the auction and payments to any parties who are owed money, including lenders and other creditors.

Unsold parcels may be sold at another time, either online or at a future auction.

Because the foreclosure crisis — which affected homeonwers of all price ranges — stretched beyond 2008, the county may see more higher-quality, delinquent properties coming to auction within the next three years, McAllister said.

But that hinges largely on the state of the economy, he added. If it continues to recover, then more people may be able to catch up on their property-tax payments and fewer properties will be auctioned off.

The next county auction is set for June, when up to 500 delinquent timeshares could be up for sale.

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Banks Are Doing Short Sales Faster, More Efficiently And Here Is The Reason Why:

Short Sales, Previously Known As Diffiult And Time Consuming Are Now Becoming Faster And Easier.

San Diego County’s level of housing distress took a pivotal turn this year. Short sales, once rare deals in the real estate world, now make up a bigger share of the residential market compared to foreclosed homes that have been resold.

Short sales allow homeowners who can’t afford their mortgages to sell their homes for less than what they still owe, as long as the lender says OK. One in five homes resold in the county were short sales, based on August numbers from local real estate tracker DataQuick. Compare that to single-digit percentages seen while the housing bubble began to percolate in 2007.

Short sales are expected to become even more common and easier to close as Freddie Mac, which owns or guarantees a sizable chunk of mortgages in California, will make it easier for borrowers to complete them starting next month. Borrowers will see that the process is considerably shorter and that it will leave less of a financial black mark on their credit histories.

Already boosting the number of short sales is a $25 billion mortgage deal between the nation’s biggest banks and 49 states that settled foreclosure abuse allegations and was signed earlier this year. The agreement essentially forces banks to do more short sales and provide relief to borrowers on expedited terms. Some banks are even offering cash as incentives to get more people to short sell.

The end result appears to be good for the housing market.

The increase in short sales means a more dynamic real estate market, fewer losses for banks and increased chances that short sellers could buy homes again after a shorter hiatus.

For More on this article: http://www.utsandiego.com/news/2012/oct/06/short-sale-depth/

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Shannon Biszantz

Shannon Biszantz

Shannon Biszantz reviews

CalBRE #01787015
16236 San Dieguito Road, Suite 4-12,
Rancho Santa Fe, CA 92067

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