Magazine article Mortgage Banking

California, Florida and Texas Dominate List of Best Investment Markets

Magazine article Mortgage Banking

California, Florida and Texas Dominate List of Best Investment Markets

Article excerpt

New third-quarter data compiled by Dallas-based HomeVestors of America and Cary, North Carolina-based Local Market Monitor, found 14 markets based in California qualify for the most attractive category of investment property--low risk. The rankings are compiled based on data from 300 real estate markets in the United States.

The Best Markets report data is compiled quarterly and categorizes markets based on four different investor risk preferences--dangerous, speculative, medium risk and low risk.

While California offered investors many single-family housing markets to invest in based on minimal risk, two other states had more markets in the low-risk category--Florida (16 markets) and Texas (15 markets).

"The California markets present a different kind of investment opportunity. With some notable exceptions, they're growing again--both in jobs and in population--as is clear by double-digit home-price increases," said Ingo Winzer, president and founder of Local Market Monitor. He added, "But investors in these markets are likely to see more of their gain come from price appreciation and less from a long-term rental stream, because most of these markets are no longer underpriced."

A press release explaining the rankings said that for investors willing to take a risk on their housing investments, the markets falling in the speculative category might represent an opportunity. …

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