California Tops Best Real Estate Investment Markets
For bottom-fishing investors it might be a great idea to leave to Las Vegas for the New Year, but not because the town is a constant party starter. Sin City, together with Stockton, Detroit, Modesto and Vallejo are some of the best places for investors to get involved in real estate. The housing market has hit rock bottom in these towns, and making investments is an excellent idea.
A good investment opportunity in the real estate market is all about looking for problems and taking advantage of these problems. Home buyers want to invest in convenient properties and in order to do that, they need to turn to communities that have extremely reduced interest rates. Prior to making a decision however, investors are advised to analyze the market and check the best market rankings.
Real estate experts have mentioned that both investors and owners are not in a rush to make any decisions, and they’d rather to wait for the market to bottom out. That might not be a very wise choice either, because if the demand suddenly goes up the prices will also begin to increase. If the market recovers the prices won’t remain low, and that’s the main reason listings change so drastically. As opposite to 2012, this year sellers won’t be in a hurry to give their homes away; on the contrary, some of them will be willing to wait for the market to perk up in order to obtain a better price.
Markets with less than one million in population also fell from top ten. Among them there were Daytona Beach that dropped from 4 to 20, Fort Myers from 6 to 15, Boise City from 10 to 33 and Bakersfield from 5 to 11. It’s obvious that major changes happened on the market recently, and with the start of 2013, further surprise will definitely come our way.
It seems that in Boise City, home prices dropped 13% from the last year, which is a very bad aspect for the market. In Orlando, there has been a decrease of 10 percent but this year nothing changed. In Phoenix, prices had initially fallen with 12%, but now they are facing an increase of 10%. For long-term investors, original prices aren’t the most important ones. They see short term gains as an essential aspect of their opportunities.
Unfortunately, due to the bad economy, the real estate marketplace has suffered a lot of changes. Things are now trying to get back to normal, which will be a great improvement for the future of the US real estate business.