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Fla. has two 'top 10' cities for RE investing

ORLANDO, Fla. – April 13, 2016 – HomeVestors – the We Buy Ugly Houses people – and Local Market Monitor published their Best Markets Top Ten List for Real Estate Investing for the first quarter of 2016, and two Florida cities made the list: Orlando and Tampa.
To identify top investment cities, the study ranks them based on increased job opportunities in the past year. The overall national average increase was 1.9 percent.
Two Texas cities topped the list: Dallas-Plano-Irving followed by San Antonio. Grand Rapids-Wyoming, Michigan fell to third place, with Orlando in fourth place. Atlanta-Sandy Springs-Marietta, Georgia came in at No. 5.
“Good job growth is driving prices higher in our markets, mainly in business services but also tourism (Orlando, San Antonio), finance (Charlotte, Dallas) and manufacturing (Grand Rapids),” says Ingo Winzer, president and founder of Local Market Monitor.
While home prices have recovered in Texas, Florida and California, the report predicts that some local markets in each state will be over-priced in another year.
“Over the last year, we have seen an increase in population and job growth,” says David Hicks, HomeVestors co-president. “However, housing prices are increasing significantly faster than incomes. As a result, home sales are slowing, limiting the housing demand. Therefore, investors need to be careful where and when they invest.”
“Yesterday’s opportunity becomes today’s risk once prices move higher than they should,” says Winzer. “This is especially true for investors in rental properties and especially now that the deep discounts at which properties could be bought have largely disappeared.”
“Investors always need to think hard, but in this environment they also can’t afford to think too long,” says Ken Channell, co-president of HomeVestors.
1Q 2016 best markets top 10 list for real estate investing
1.Dallas-Plano-Irving, Texas
2.San Antonio, Texas
3.Grand Rapids-Wyoming, Michigan
4.Orlando, Florida
5.Atlanta-Sandy Springs-Marietta, Georgia
6.Charlotte-Gastonia-Concord, North Carolina
7.Salt Lake City, Utah
8.Nashville-Davidson-Murfreesboro, Tennessee
9.Tampa-St. Petersburg-Clearwater, Florida
10.Phoenix-Mesa-Scottsdale, Arizona
© 2016 Florida Realtors®
Source: Florida Realtors Feed

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