Where are the best cities for real estate investing today?
The housing market may be in recovery mode but it is clear that some markets are far outperforming others in terms of home values, home sales and reducing distressed inventory levels. The others will catch up eventually but America?s economic landscape is also changing dramatically meaning that some cities may fail to be as glorious as they once were and others will overtake them and see more growth and more appreciation over the next decade.
There is a lot of debate over what makes a great place to invest in real estate today. Is it those that are simply marketing themselves the best and capturing the most media regardless of their sustainability for the long term, is it those with the strongest manufacturing and industry foundations or is it the hot newcomers who are developing themselves as the top tech hotspots of tomorrow?
Is it wiser to invest in real estate markets which are leading the recovery and are posting the biggest gains but also have the most competition like Phoenix, Key West and Sacramento or is it better to invest in markets which are still bottoming and offer the least competition and largest growth prospects for the new boom period like Connecticut?
USA Today recently published a list of the top 10 cities for tech startups:
- San Francisco, CA
- Boston, MA
- New York, NY
- Los Angeles, CA
- Washington D.C.
- San Diego, CA
- Chicago, Il
- Austin, TX
- Denver, CO
- Seattle, WA
Others pushing themselves as new tech hotspots include Miami, Portland and Grand Rapids.
CBS Money Watch also just published a list of top 10 cities for job growth:
- San Francisco, CA
- Houston, TX
- Denver, CO
- Seattle, WA
- Phoenix, AZ
- San Diego, CA
- Cincinnati, OH
- Riverside, CA
- Portland, OR
- Boston, MA
It is interesting to see the overlay in these lists and how some cities continue to stand out, some of which are also boasting the best real estate growth figures too. However, affordability and competition should definitely be kept in mind before leaping into any market too.
Despite the advantages of diversifying real estate investments some real estate investors are firm on sticking to their local markets. That?s fine and no matter where you are there will always be deals to be found, though how many you can never tell.
If you are determined to keep your investments local and your city isn?t hitting top 10 lists like this then you should at least be asking yourself how you can gain more visibility and promote your destination to a wider and more affluent audience.
How can you create more demand for your real estate investing deals and flips and fuel local growth? Is it garnering more publicity through press releases, collaborating with travel and tourism organizations and business groups or is it simply guerilla marketing tactics like social media and in person networking?
Source: http://reieducationcompany.com/top-cities-for-real-estate-investing-today/
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