“The Crash is over,” says Mark Zandi, the Chief economist for Moody’s Analytics. With a recovering US Housing Market, now is the best time to invest in USA property. The only thing you have to decide is where to buy. Read on for info on the Top 5 USA Property markets…
1. TEXAS- Hands down the number 1 place to buy property in this economy with a 11.5% estimated profit increase according to the ROI. “Texas Real Estate defies US property market” says Texas Real Estate Magazine. The rise in property prices means an increase in returns and value for your investment. Finding reliable tenants for your property is also extremely important. It is a good thing that Austin is a job creating machine that expects to have created more than 810,000 new jobs by the end of 2012. Unemployment is also expected to drop from 7.1 percent in 2010 down to 5.8% by the end of the year. The bottom line is that buying USA property in Texas will give you ample returns and tenant security.
2. FLORIDA- All the recent speculation about the USA property market has thrown the media into a frenzy. However, when it comes to the Florida market, everyone seems to agree. Zillow and Florida Relators are reporting an upward shift in prices across the state. The numbers show that single family home sales are up 30%! The increase in sales is a good sign that prices will begin to rise steadily for 2012. This prediction is supported by the Federal Reserve’s report on an increase in borrowers wanting prime residential mortgages. Banks are expected to start issuing more loans over the course of 2012.
3. ATLANTA- This place has the total package for USA property investment. For the past decade, Atlanta has seen some of the largest population increases in history. A growing city certainly means a growing economy and a decrease in unemployment. Still, prices are extremely low due to the large number of foreclosures. At the same time, rent hasn’t seen the same decreases most other cities in the USA. A strong demand for renters means that you won’t have problems finding quality tenants!
4. TENNESSEE- Memphis and other cities in Tennessee faced hard times during the housing crisis. Right now, prices are extremely low because of the large number of foreclosures. Have you ever heard the expression “Buy low, sell high?” Property prices in Memphis are expected to rise steadily over the course of the next decade, making it a hot spot for potential USA property investors.
5. OKLAHOMA- The best thing you can do is stay away from the West Coast. Places like California, Nevada, and Arizona are bust markets. Instead, look at middle states with strong economic fundamentals. Oklahoma City has a reliable economy and steadily increasing housing market. Sometimes, the safe play is also the best.