Where do you think the market will grow with the highest %?
Where the market is undervalued?
(Southern California used to grow about 20% a year. Now the boom seems to be over.)
sam12,
Thanks
Does anybody know where to find statistics on this? Are there any websites or publishers that offer information on which zip codes are/were appreciating at what rates? I think Wesley is correct in saying the days of double digit appreciation are gone for now.
It's true that double-digit appreciation won't be back for a while. But there are 2 places, it seems to me, where growth has been exploding for two decades and will likely continue: Las Vegas and Phoenix suburbs. At some point the sprawl will be contained either through boundaries like Indian reservations (to the south of Phx) or simply too great of a distance from jobs to make people's commutes worthwhile -- which will jack up prices in places where people have already built, which means even more appreciation for home values.
The big negative here is that these are cities in the desert, and if drought keeps going (a real possibility), then there might not be the natural resources there much longer that would sustain the population, which of course would mean people selling and moving out and losing a lot on their real estate investments.
Great questions. The Wall Street Journals magazine, Smart Money, had an issue several months ago giving what cities were growing the fastest, as far as appreciation goes, and what cities were the most undervalued. It was a very interesting read from many different vantage points.
I think the entire real estate market is slowing and that's exciting. It's time to start buying and holding in many different areas of the county.
Watch NW Florida. Panama City Beach, FL has lots of cheap beach property and the "in-town" area homes (Panama City & Lynn Haven specifically) are inexpensive and great for rental income. PCB is attempting to revitalize the beach area by bringing in upscale retail, housing, dinning, etc. The attempt is to get away from being the College Spring Break town and bring in the Baby Bommers.
This is the development project link http://www.pcbonthemove.com/
Dayton, OH · Member since 2008 · 517 posts · 17 votes
20y
The "hottest" markets may simply be the ones that fall down the least... or manage to grow a modest amount. Sometimes you just have to preserve your capital in safer investments and wait for better opportunities. At least that's my 2 cents.