Entering into real estate market investments can be risky and complicated, especially if it's your first time. However, for those who educate themselves and make some big moves, the rewards can be worth it. What is the secret to finding success?
Some experts say that in order for an investor to succeed in the real estate market one must be acutely aware of present trends and be able to use that information to make projections about the future of various real estate markets. It will help to have an idea about possible housing price growth, population growth and unemployment rates.
This doesn't mean you have to figure this information out by yourself; there are experts for that! Check out this list of the best U.S. real estate markets to invest in according to the experts:
Florida: The spot with the most investment opportunities
Florida takes recognition as being one of the top markets for real estate market investment opportunities according to the Local Market Monitor, a data company based in North Carolina. Seven Florida cities made it into the company's top 20 list for the “Best Buy Cities” for 2016.
Miami didn't make the list, but it was recognized by Bigger Pockets as a hot real estate investment market, having a year over year ROI of 18.6% with the public referring to it as a great place to live.
The 7 cities that made the list include West Palm Beach, Tampa, Jacksonville, North Port, Orlando, Cape Coral and Fort Lauderdale.
Orlando landed in the second spot on the list, with a 6.7% population growth between 2011 and 2014, a 28% three-year home price growth prediction and a 3.7% annual job growth rate. Homes for sale in Orlando currently sit at an average price of $202,809.
The Local Market Monitor awarded Texas with the second highest number of flourishing cities for real estate market investment, including San Antonio (3rd), Dallas (6th) and Austin (7th). The state fair quite well after the 2008 recession, thanks to the energy sector that allowed the housing market to remain strong. All three cities in the top 20 had strong job growth and population growth remain high as well.
The Carolinas: Growth in the real estate market and reasonable investments
Various cities in both North Carolina and South Carolina were included for having some of the best real estate markets including Columbia, Charleston and Charlotte. With an average home price of $220,758, the Charlotte-Gastonia-Concord area has done very well and boasts a 22% three-year home price increase prediction as well as experiencing 3.6% job growth.
According to the Local Market Monitor, the best place for investing in real estate markets is in Grand Rapids, Michigan. It is one of the most affordable places for homes and its job growth is 14th in the nation. Because of these factors, Grand Rapids boasts a 3.1% population growth rate and the three-year home price growth prediction is 22%. The average price of a home is just $154,348.
Experienced investors should also look out for opportunities in Detroit, where the ROI is at 16.2% and housing is extremely affordable but soon to be on the rise.
If you want to enter into the world of real estate investing, you'll have to be smart about your planning and value strong foresight before you take any chances. If you want to learn more about current trends and helpful tips in the market, feel free to browse the Showcase Realty blog for some valuable information and discussion.
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