Anyone know where growth and appreciation continues despite the climbing interest rates. :
Personally, the best thing to do is sit back and watch the carnage! Realtors (R) will be beaten, Real Estate Investors will be jumping out of their unfinished Condo Towers, it’s gonna get pretty interesting in the next few years.
Hey Jagsterr,
Minorities and women may comprise as much as 70% of all subprime loans in the next 36 months.
I have more information available if you want.
Direct Funding
A good emerging market is a small town called Englewood, FL. Check it out on mapquest - it’s (to the best of my knowledge) the last cape/penninsula in the US that isn’t developed yet.
2,500 homes coming out of the ground now, and numerous condo developments under-way.
Baby boomers are beginning to retire, statistically, FL gets 22% of them and there are 77 million retiring over the next ten years - this means FL will grow by about 1 million people per year over the next 10 years and the East Coast is already very expensive.
Property to the north and south of Englewood is also VERY high. This is the last place where prices are still reasonable.
What do you think of Dallas and Phoenix - overplayed? :-\
actually texas IS a very hot place. I will give proof:
AOL has Houston and Dallas as #1 and #2 on their list
NY Times has the Austin Hill country as one of the hottest places in the US
Fortune Magazine has 7 Texas cities in the top 30 in the nation
Texas has never had that tremendous skyrocket of land cost since there is so much. because of this you dont make that crazy profit in 60 days. Texas is, however, the place for cash flow in the form of property rental. land is cheaper and the mortgage matches up with rents and you can actually cash flow, unlike alot of over inflated properties in California, NY, Floriday, Arizona, etc.
biloxi
Check out this months issue of Money magazine. It gives a pretty good report on anticipated markets in the coming year.
It all depends on what your objectives are as well, cashflow or appreciation.
You may find that one spot is a great place to cashflow, but it may not appreciate rapidly. Where as you may not be able to cashflow in another area, so you’ll have to have some cash to sit on, but you could possibly reap the rewards of astounding appreciation in 6 months to 1 year.
Also consider, proximity. How easily can you get to and from the spot you are investing in if things go sour? And consider that you need a pretty solid team in that area and a good sense of that local market.
Once you find an area, they say to become an expert in that market and you can thrive regardless of trends.
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Austin, San Antonio, Dallas, and Houston are hot and growth is slated to continue for the next 5 years.
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I also read that Jacksonville, Florida is growing because of the lack of affordable investments inland.
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Central Atlanta is also doing well. I spoke to a client with a condo that’s 2 minutes from downtown Atlanta. She said downtown is being revamped and she’s still getting cashflow.
http://www.fifthstreettowers.com
Minneapolis is hot right now. http://www.fifthstreettowers.com is good market indicator.
you’re right. texas is pretty hot, especially in the summer. gets humid too.
but now that the wave is rolling through texas, utah, daho, etc. where’s it going next?? rust belt states??
I wouldn’t put money on the rust belt. You need employers (and young, upwardly mobile employees) moving into an area, not away from it. Of course, as another poster has noted, retirees in Fla. may also be a good bet.
i’m betting my farm on san antonio… because…
- Price per sq ft. is low!!!
as little as $30 per
tucson, where i started, which is now 50% more than san antonion
$$$ per capita, is pretty good
Higher than tucson, where i started, as well Toyota is moving out there cre8ting substancial number of jobs.
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Top 10 places to live in 2005
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High rent compared to house prices…
= I’m renting there for now… just for a few mos. to find a good deal on my first purchase…
The house i’m renting for 1050.00 / mo. retails for only 110k! 2300 sq ft, white collar neighbor hood, in good condition!
the only loose end i haven’t nailed down is the cosiderably high tax rate for propery about 3% annually, although i’ve heard there is a rumor of a 30% decrease… But I just can’t see how paying 48-75k on a three bedroom 2 that fetches 900/mo could be bad…
What math would one do? Obviously TAXE are a direct loss, but so is interest and the extra 100k one would have to pay in inflated areas…
I’m putting 2gether a spreadsheet to compare markets…
Can someone play the devils advocate b4 i drop anchor???>>
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Report on Real Estate market -Residential and Commercial market
pdf file See->http://finance.groups.yahoo.com/group/indianground
That is a great way to put it Dan732 that is why I got out and only get into great deals now in and out and 3-5k per deal do ten a month and have no ownership issues. And/or get at least 20-30% equity in the property flip and hold a note at 13% APR 10 a month brings in an extra 3,500 per month (at 40k note) so there it is.
I think what the real question here is DOES ANYONE HAVE A CRYSTAL BALL I CAN BORROW?