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Five hard-hit real estate markets to monitor in 2011

Las Vegas is one of five real estate markets to watch in 2011.

Las Vegas is one of five real estate markets to watch in 2011.

Though the housing crisis is still years off from being fixed, Investopedia recently unveiled reasons why five of the worst-hit real estate markets in America will show signs of progress in 2011.

The markets listed on the website include Las Vegas, Phoenix, Fort Myers, Miami and Santa Barbara.

Despite what the website calls an "overdependence" on gambling and tourism to create real estate revenue and a 15 percent unemployment rate, Investopedia says Las Vegas can make a turnaround beginning in 2011 given the appeal to retirees and the lowest-priced homes in years.

Due to the dramatic declines since the housing crisis began, the website thinks these markets, excluding Santa Barbara, have some of the most affordable houses in the country, citing Las Vegas, Phoenix, Fort Myers and Miami offering many properties below $150,000.

HousingTracker.net, a real estate data website, states the median average home price for Las Vegas in January 2010 was $136,973. By December 2010, the median average price was down to $124,900. Overall, the median listing price for Las Vegas homes from December 2009 to December 2010 dipped 9.7 percent.