Hi everyone, I am new to this site, and look forward to getting to know more investors.
I am looking to get in to new ;D markets. I am currently investing in Vegas and Arizona. Looking to find the next “HOT” markets.
I have been looking in to Utah and Atlanta, but am not sold on either.
Depends on what you mean by “hot”. Austin is “hot” right now, but if you’re looking for a the best deals, you’ve missed the boat because of the competition. Experienced, cash buyers are the ones getting the best deals now. Lately, more rehab investors have been shifting to San Antonio or Bastrop.
Austin investors are focused in Central East because of the revitalization. Lots of courthouse tax sales (due to the properties appreciating so fast), foreclosures, and rehabbing still going on. Many young, educated, “high-tech” couples are also looking for fast appreciation, so we have a demographic shift in that area.
Bastrop, TX is a hot market because it’s slated to be a retirement community. There has been a lot of new home or retirement development going on in that area.
San Antonio and Houston are always popular because the properties hold their values and rent well. In my networking circles, there have been an increase in hotel conversions and apartment investements.
Retail markets in Texas are generally on the rise.
i did look in to Tx about a yearback, and it made sence from the rental side, but as far as appreciation, it was just too low. under 10% almost everywhere.
i am looking for appreciation of 30 to 40%, which is what i have been experiencing in other markets
A “HOT” market as far as rise in property costs is normally because:
Supply is low
Demand is high
Interest Rates and loans are more easily obtained
For example, Las Vegas.
We had a great spike for a bit here. Why? Demand was high and our supply of houses dipped and building was a little slower. You also have the lack of land issue starting to come up. Right now we have a huge supply and while demand is still great, supply more than outweighs it–thus the market is cooled.
Texas is flat appreciation wise because the supply of land far exceeds the demand. It will be this way for sometime. For a place like Houston to go up significantly, supply needs to lower and building needs to slow down while demand increases.
Still, in any city, you will find hot pockets. Normally these are decent areas where the housing prices are lower than normal. As housing prices rise in the area, people begin to look for nice areas that are cheaper.
I agree that pockets are hot. I’m just afraid that we’ll have too much speculation. Homes are going for way too much right now, depending on the area. It’s very tough getting a good rehab deal or below market rental.
unfortunately, i do not want to do re-hab. What i have enjoyed is getting in at the right time, and flipping with in a few months for a 30% profit. But for that to happen you need to be in the right market. Vegas was that last year, Arizon and Sacramento still in the running, and a few new markets on the rise.
I think Yuba City and Modesto are showing promise, as well as Boca and west palm beach.
any thought on those?
I never look at high taxes as being a prob. face it you got to pay them!!! And the more you make the more you pay! So I look foward to high taxes that means I mad a ton of money! I personally think Az is going to stay hot for awhile! As far as Utah I don’t see it I am going to do some checking today! On the other hand there is a ton of buildable land there to I don’t really see my friendly neighbor to the west booming any time soon then again stranger things have happened! I know areas like Saint George Utah is Nice and the property there goes up 6% or so on the other hand I consider that part of Nevada its right on the border!! As far as Salt Lake area I would rather invest in a small town in Wyoming!
Texas residents pay more property taxes, but we have no state income tax.
In the Dallas area, rate of appreciation is pretty flat, but somewhat tied to how close to the city you are. Mass transit is in its infancy here, and people will pay a premium to be closer to the city. If my house was 10 miles closer to the city it would likely be worth an extra 40-60k.
What cracks me up is the 100 year old million dollar homes right in the city, with an S8 warzone across teh street
Harborwalk, by Zaremba homes. this is going to seem crazy but this property just outside of Cleveland, OH is going to explode b/c waterfront property is sparse at best. It’s on Lake Erie and a casino is planned for the site. They have TH’s and will have lofts soon as well. It’s going to be a vacation destination b/c it’s on the water, between downtown Cleveland and Sandusky, OH, where Cedar Point amusement park is, and that casino is planned. They start in the $160,000’s and go up to $300,000. It will out perform the rest of the Cleveland market by leaps and bounds.
I saw Dallas had a Red Alert on their air. Unhealthy for EVERYONE to be outside. Lovely. First one and more to come. Sadly, Las Vegas is starting to develop LA syndrome. The air here is getting worse and in a few years we are predicted to be a mess.
I need to go visit the place I love most, Seattle.
Yes, Flagstaff, AZ…if you haven’t been to Flagstaff in the summertime, you should try it…it’s in the mountains great in the summer. For instance, today’s forecastfor Phoenix is 102, for Las Vegas - 95, for Flagstaff - 76.
s. florida is still a hot market. If you can get in and flip quickly you will make money right now. Boca, and most of palm beach county
Also, pompano beach hottest zip code right now waterfront. peoplae are still moving here in droves!!