5 Best Real Estate Markets in the Country Today
Best real estate markets
Analyzing what the industry is doing is a great idea for making an informed decision.
Why hasnt the rebound come faster?
Home prices throughout the nation as a whole did plunge sharply the first quarter of 2011. Though, this is not an overall indicator that the housing market is not on its way to recovery. The plunge seen in the beginning of the year could have been the bottom of the swing of things and the worst of things to come.
Why is housing continuing to do so poorly? Unemployment has not bottomed out, banks are still not lending and businesses are still not hiring. One of these indicators will need to change to start the recovery and the housing market might the indicator that will take us back up to the top of the well.
Best real estate markets in the country today
The real estate market in the country has seen its share of things not going well over the history of the market. There was the bubble collapse causing millions of people to feel the negative effects of buying and selling land and houses in an effort to get rich.The ultimate effect was a steep price paid for the lifestyles of an enormous amount of people, banking institutions and even America as a whole, There is now a recovery taking place. The future is looking brighter and for good reason.
There are still more than a few rays of sunshine left in this industry. Some markets are more positive compared with the rest of the country. Studies and insights into the industry reflect this statement. Home values did rise in about one fourth of the nation’s housing markets from the second quarter of 2010 to the same period in 2011.Knowing where to put those extra dollars when it comes to buying and selling in the business makes or breaks and investor. Discover the best place to sink it.
Check out these five hot or at least slightly warmer markets where values actually did increase rapidly. These are the five best real estate markets in the country today.
1. Cape Coral –Fort Meyers Florida
This is a city located at the Gulf of Mexico and the United States. The city dates back to 1957 making it fairly young compared with metropolis of the same size in the state. This little "big" cit is the largest between Tampa and Miami.
The 2011 Q2 median home price $110,900 home values were up 17.9 percent between 2009 and 2011. Population was nearly 700,000 by 2014. It is known as the Waterfront Wonderland by the inhabitants.
The economy is based entirely on local government services. This includes a small portion of tourism, but services such as hospitals, retail and real estate play a large part.
2. Elmira, New York
The 2010 census put the small city's population at only 29,000 residents. In 2011 Q2 median home price $115,200 home values were up 16.1 percent. Sitting barely a hair breathe away from the Pennsylvania state line puts the city at a great advantage. The small town atmosphere along with the big town amenities when needed or wanted.
The city originally established during the late 1700s has an abundance of historical value. The small population was due to a decline in the major industries of railroads and manufacturing. The result has been a reduction in residents of almost fifty percent in the last 30 years.
At this time manufacturing jobs are returning in the form of more greener industry. With a population on the rise once again, real estate values are also trending this way.
3. Dallas-Fort Worth, Texas
The current economy places the median home price $151,500. This means home values were up 12.5 percent since 2010. This is not a small town or city, but a major metropolis which is very popular for tourism. Though, most people would imagine there were not lots of opportunities in a community this size, they are mistaken.. Point in fact this is certainly a chance of a lifetime.
4. Grand Rapids, Michigan median home price $103,100 home values were up 10.9 percent over the last several years. Michigan is a state smack in the middle of the U.S. and has tons of attributes which are very attractive. One of the best is the weather. There is the luxury of enjoying all four seasons each year and so much more.
One of the largest drawbacks, if seen this way, is the size of the city compared with most of the others listed here. The metropolitan area houses over one million folks.It is home to five of the largest office furniture manufacturers in the country.
5. Glens Falls, New York median home price $161,600 home values were up 9 percent. This is almost a full ten percent jump in less than two years. Glen Falls is probably one of the lesser known communities in the state of New York. This does not make it the worst. This is an up and coming place to put real estate roots for the optimistic investor.
These are the cities in this fabulous nation with the possibility of becoming the starting point of a wonderful real estate recovery. Many experts have advised as a nation we should not expect to recapture the same housing market until at least 2014. Other individual experts in the field put this period out past the 2014 year.
According to Forbes magazine the revival will certainly be longer than originally anticipated. However, things may be looking up thanks to these five housing markets that have shown somewhat of a recovery since last year. Any individual searching for a better bet on the future in the industry would do well to invest in any one of these.
Every six months a thorough review of the housing market is done to compare statistics all over the country, within each state and among communities to determine if any type of recovery with the industry is taking place.
Measurements are made, comparisons and statistical information gathered in order to aid in the revival and avoid any former errors before they occur.
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