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In its 4th quarter report of 2006, the real estate information site estimates the home value trends for the U.S. and 75 metropolitan areas. According to the data from http://Zillow.com, home values are now declining slightly on a year-over-year basis for the first time in a decade after years of appreciation.

Zillow’s home value data goes back to 1997 and reveals the depreciation of home value rates at 0.48 % year-over-year at the national level. The depreciation in home value every quarter is at 4.77 %. Zillow’s appreciation rate is based on the value of all homes in an area, including those that were sold.

Although there is a fall in the over-all home price growth, areas such as Seattle and Portland are experiencing a surge in home values at good appreciation rates. Besides national home values, the report also presents comprehensive data on local market price growth and decline in 75 metropolitan areas. The Zillow report gives detailed data on home value changes for counties, cities, neighborhoods and ZIP codes in U.S.A.

The top 5 metro areas with the highest price growth, year-over-year, are:

1. Lakeland-Winter Haven, Florida, with an appreciation rate of 25.88 %
2. Yuma, Arizona, with an appreciation rate of 25.66 %
3. Myrtle Beach, South Carolina, with an appreciation rate of 21.24 %
4. Flagstaff, Arizona, with an appreciation rate of 19.02 %
5. Ocala, Florida with an appreciation rate of 17.56 %

The 5 metropolitan areas that have the most declining home values, year-over-year, are:

1. Panama City, Florida, with a depreciation rate of 11.84 %
2. San Luis Obispo-Atascadero-Paso Robles, California, with a depreciation rate of 11.35 %
3. Punta Gorda, Florida, with a depreciation rate of 9.23 %
4. Sarasota-Bradenton, Florida, with a depreciation rate of 8.99 %
5. Greenville-Spartanburg-Anderson, South Carolina, with a depreciation rate of 8.73 %

The Zillow national report also includes the top five most expensive and least expensive metro areas measured by the Zindex home value indicator.

The top 5 metro areas that are most expensive are:

1. San Francisco-Oakland-San Jose, California at $684,459
2. Salinas, California at $654,503
3. Santa Barbara-Santa Maria-Lompoc, California at $627,323
4. Honolulu, Hawaii at $626,452
5. Los Angeles-Riverside-Orange County, California at $545,409

The top 5 metro areas that are the least expensive are:

1. Davenport-Moline-Rock Island, IA-IL at $86,201
2. Peoria-Pekin, Illinois at $91,984
3. Greenville-Spartanburg-Anderson, South Carolina at $96,508
4. Tulsa, Oklahoma at $97,186
5. Dayton-Springfield, Ohio at $103,729

Even within these markets, there are hot and cold housing segments of the community. Be sure to seek out the services of a local real estate agent, who can advise you about local market conditions that impact the price of homes, condos and other types of real estate.

Sitting on several miles of Florida’s most unspoiled and gorgeous white sand beaches, is the highly sought after Casey Key real estate bargains in homes and business properties. Casey Key is a barrier island at the Southern end of Sarasota County and is a world famous playground to the rich and famous who come to Sarasota and Casey Key to enjoy their private and secluded Key Island estates, which might be their 3rd, 4th, or even 5th vacation home. The exclusive Island of Casey Key is home to some of Florida’s most extravagant residences and large estates which are owned by some of the worlds most influential persons. On the east side of the island is the Intra-coastal waterway which is just a few minutes away from the Venice inlet and the blue waters of the Gulf of Mexico. Nearly every home has a view of the Gulf on this narrow, secluded island located south of Siesta Key between the Gulf of Mexico and Blackburn Bay. One of Florida’s most prestigious addresses, Casey Key consists almost entirely of large mansion type single-family homes and offers unparalleled privacy, uncrowded beaches and some of the City of Sarasota’s most exceptional properties.

The white sand beaches, sophisticated arts, world class shopping, entertainment activities, five star resorts, beautiful exclusive country clubs, legendary fine dining and community events coupled with the areas natural beauty and year-round good weather are just a few reasons that Sarasota and Casey Key and the other Key Islands rank among the nations 15 most livable communities. Sarasota’s high per capita income supports a wide variety of recreational activities and many exclusive arts organizations. Some of those are the theater, ballet, opera and international film festivals.

Whats the secret to Sarasota’s growth and success?
The City of Sarasota, through its elected officials, puts much effort into the planning for its future, and does so through its young. Sarasota County’s public schools serve more than thirty-six thousand students. It has twenty elementary, eight middle and nine high schools, Sarasota provides educational opportunities for all; from the challenged to the gifted. The area is also home to a wide variety of private schools of various affiliations. Every teacher in Sarasota County is top-ranked with the same goals for educating the children here as do the residents who hired them and continue to monitor them on a regular basis.

If seclusion and privacy is your passion and your goal, then this elegant and very exclusive Sarasota Key Island may just be the ideal location to live your dream of owning a new secluded estate on one of the most exclusive pieces of real estate anywhere. Made up almost entirely of large and luxurious single family homes. Most all of the homes on Casey Key have a Gulf of Mexico view. Casey Key is “old Florida” at its finest. No high-rise condos here, no chain hotels, just 400 permanent neighbors who are friendly, warm and caring, wonderful un-crowded beaches and quiet winding streets covered by canopies of tropical palms on this barrier island that is so narrow, some homes have a front yard that faces the Gulf of Mexico and a backyard that faces Sarasota Bay.

Ms. Adams has been blogging about Casey Key real estate for years with great enthusiasm and dedication to this island paradise.Article Source:http://www.articlesbase.com/real-estate-articles/casey-key-real-estate-1745568.html