Thursday, May 23 2013 11:56 PM EDT2013-05-24 03:56:10 GMT
(WMC-TV) - A Mid-South community grieves the loss of a seven-year-old girl who was hit a killed by a truck while riding her bike. Neighbor Rosie Donald lives down the street from where it happened in aMore >>
A Mid-South community grieves the loss of a seven-year-old girl who was hit a killed by a truck while riding her bike.More >>
Thursday, May 23 2013 11:55 PM EDT2013-05-24 03:55:47 GMT
(WMC-TV) - In Oklahoma, many residents are still cleaning up and trying to put their lives back together. An EF-5 tornado tore through Moore Monday, ripping apart the strip mall where Jim Fields spendsMore >>
In Oklahoma, many residents are still cleaning up and trying to put their lives back together.More >>
Thursday, May 23 2013 11:52 PM EDT2013-05-24 03:52:34 GMT
(WMC-TV) - The Memphis Police Department director said idle threats are uncalled for between his employees. Toney Armstrong discussed the firings of two officers accused of threatening comments to fellowMore >>
The Memphis Police Department director said idle threats are uncalled for between his employees.More >>
Thursday, May 23 2013 11:36 PM EDT2013-05-24 03:36:25 GMT
(WMC-TV) - Memphian Kris Thomas is home adjusting to life away from NBC's "The Voice" stage and constant rehearsals. He took the long flight back to his hometown of Memphis Wednesday, and Thursday he wasMore >>
Memphian Kris Thomas is home adjusting to life away from NBC's "The Voice" stage and constant rehearsals.More >>
Thursday, May 23 2013 11:15 PM EDT2013-05-24 03:15:03 GMT
(WMC TV) - PROJECT GREEN FORK RESTAURANT OF THE MONTH: Fuel Cafe, 1761 Madison Ave., Midtown Memphis, (901) 725-9025 Fuel Cafe's new Spring/Summer menu is a new dedication -- to vegetation. HealthyMore >>
Where's the beef? It takes a back seat for the summer at Andy's Project Green Fork Restaurant of the Month!More >>
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SOURCE ZipRealty, Inc.
Two Texas metros top the list, while two East Coast cities are among the most expensive.
EMERYVILLE, Calif., March 14, 2013 /PRNewswire/ -- ZipRealty, Inc. (http://www.ziprealty.com) (NASDAQ: ZIPR), the leading online technology-enabled residential real estate brokerage company, has released a list of the 10 most affordable housing markets of 2013 based on ZipRealty's analysis of two years of authoritative MLS data and U.S. Census Bureau information. The evaluation compared median home sale prices in 30 metropolitan areas to median household income levels in those same cities. Those metropolitan areas with the lowest ratios of home price to household income were deemed to be the most affordable areas for the purposes of the study.
Metropolitan areas in Texas and non-coastal regions are the best places to find a real estate bargain, according to the study. Dallas-Fort Worth, Houston and Minneapolis-St. Paul top the list as the most affordable metropolitan areas, while Washington, D.C., Brooklyn, N.Y. and the San Francisco Bay Area are the most expensive.
"ZipRealty's analysis shows that in the most affordable areas, the average home sells for about five to six times annual average household income levels," says Lanny Baker, CEO and President of ZipRealty. "However, at the other end of the spectrum, homes in the least affordable metro areas are selling for as much as 11 to 13 times the local household income standards, and in one city we researched, the average house price to income level ratio was almost 17,"says Mr. Baker. "Purchasing a home is a major ticket item for people in any city, and yet our research clearly shows that housing affordability can differ vastly from one city to the next. It is important for consumers to understand how housing in their local market tends to be priced relative not only to local income levels, but in comparison to other areas of the nation," he continues.
Below is a list of the Top 10 Most Affordable Housing Markets with the current ratio of median home sales prices to median household income shown for each metropolitan area.
1) Dallas-Fort Worth
5) Las Vegas
6) Raleigh, N.C.
ZipRealty's list of the most affordable housing markets was created using the most accurate and complete data in the real estate industry, which is detailed in the company's Data Quality Report, http://bit.ly/107LMMp, which was released on March 6, 2013. ZipRealty discovered that prominent real estate websites consistently fail to display a significant number of MLS-listed homes for sale, while also presenting a large number of sold homes as if they were currently for sale. The study results show that up to 30% of MLS listed homes for sale are missing from other real estate websites, and over 15% of the listings on these websites are stale, expired or inactive. In contrast, ZipRealty never includes sold homes in search results, and has an accuracy rate of greater than 99% on MLS listed homes for sale.
Based on ZipRealty data, the Top 10 Most Expensive Housing Markets are:
About ZipRealty, Inc. ZipRealty is a leading national real estate brokerage and provider of proprietary technology and comprehensive online marketing tools for the residential real estate brokerage industry. For home buyers and sellers who increasingly want control, choice and a seamless, customized service, ZipRealty offers Internet-enabled, state-of-the-art technology and complete access to accurate, timely information via their website and mobile applications, which real estate professionals can combine with their own local knowledge and personal expertise to offer an exceptional start-to-finish client experience. For real estate professionals who seek more productive ways to conduct business, ZipRealty provides technology and online marketing tools to enhance their online sales channel, including lead generation, conversion and service of their clients. ZipRealty's technology and online marketing products serve its full-service, owned-and-operated residential real estate brokerage business in 19 markets nationwide, as well as its Powered by Zip network of leading third-party local brokerages in 15 markets.
Thursday, May 23 2013 9:52 AM EDT2013-05-23 13:52:45 GMT
(WMC-TV) - There is a major slowdown in Memphis this Thursday morning, where a tractor trailer has flipped on Interstate 240 Westbound at the Walnut Grove exit. All lanes of Westbound I-240 have beenMore >>
There is a major slowdown in Memphis this Thursday morning, where a tractor trailer has flipped on Interstate 240 Westbound at the Walnut Grove exit.More >>
Thursday, May 23 2013 1:22 PM EDT2013-05-23 17:22:07 GMT
(WMC-TV) - A Bartlett Medal of Honor recipient has died. Vernon McGarity, a U.S. Army Veteran, was awarded the Medal of Honor for his heroism during World War II in 1952. Action News 5 spoke with McGarityMore >>
A Bartlett Medal of Honor recipient has died. Vernon McGarity, a U.S. Army Veteran, was awarded the Medal of Honor for his heroism during World War II in 1952.More >>
Thursday, May 23 2013 11:55 AM EDT2013-05-23 15:55:08 GMT
(RNN) - Dozens of Cleveland restaurants have pledged to give the man who rescued three Ohio women from captivity, free burgers for life. Charles Ramsey, the guy who famously stopped eating his Big MacMore >>
More than a dozen of Cleveland restaurants have pledged to give the man who rescued three Ohio women from captivity, free burgers for life.More >>
Wednesday, May 22 2013 11:00 PM EDT2013-05-23 03:00:22 GMT
(WMC-TV) - A Memphis mother defends her teenage son who is charged with murdering someone at a graduation party. Rebecca Miller and her son are anything but strangers to Action News 5. Our station helpedMore >>
A Memphis mother defends her teenage son who is charged with murdering someone at a graduation party.More >>
Wednesday, May 22 2013 11:40 PM EDT2013-05-23 03:40:29 GMT
(WMC-TV) - The Memphis Police Department issued a city watch for a 12-year-old boy Wednesday night. Robert McBride II was last seen leaving his residence on foot on Jamaica Avenue. He has a mohawk, andMore >>
The Memphis Police Department canceled a city watch for a 12-year-old boy Wednesday night.More >>
Wednesday, May 22 2013 11:24 PM EDT2013-05-23 03:24:43 GMT
(WMC-TV) - A Memphis skateboard shop was going under until the Grizzlies' big wins, that is when owner Hunter Demster started selling T-shirts. The "Grind City" shirts saved his Midtown business whichMore >>
A Memphis skateboard shop was going under until the Grizzlies' big wins, that is when owner Hunter Demster started selling T-shirts.More >>
Thursday, May 23 2013 9:50 AM EDT2013-05-23 13:50:12 GMT
(WMC-TV) - The U.S Attorney's office of the Eastern District of Arkansas sentenced a former West Memphis councilman and a West Memphis police officer for a conspiracy to commit election fraud. Former WestMore >>
District Judge Kristine Baker sentenced a former West Memphis councilman and a West Memphis police officer for a conspiracy to commit election fraud.More >>
Wednesday, May 22 2013 11:00 PM EDT2013-05-23 03:00:20 GMT
(WMC-TV) - A Mid-South mother of four is convinced that one of her sons was murdered. And after spending the past four years trying to prove it, she is turning to the Action News 5 Investigators. FrancesMore >>
A Mid-South mother of four is convinced that one of her sons was murdered. And after spending the past four years trying to prove it, she is turning to the Action News 5 Investigators.More >>
Wednesday, May 22 2013 9:38 PM EDT2013-05-23 01:38:14 GMT
MOORE, OK - The trembling, mud-spattered dog whose photo went viral on Tuesday was not actually standing watch over her owner's body - her name is Susie, her owner is named Curtis Collins, and he's alive.ThanksMore >>
There's a happy ending to the story of the little dog who was found standing guard over a body after the EF-5 tornado that decimated her neighborhood in Moore, OK. Her owner is alive, and they have been reunited thanks to the viral photo. More >>