Are you looking for a good area to invest? I frequently get asked by investors where they should look for deals. I always tell people to start in their own local markets where they can “see, touch and feel” the deals. However, if you have an itch to reach out of your local area, below are some places you may want to look.
What I like most about this note is the phrase “motivated sellers are slashing prices.” That is music to my ears. Investors (you) love motivated and flexible sellers!
Las Vegas Leads Cities for Top Housing Deals
Property values are down, but in some cities sales are up because motivated sellers are slashing prices and buyers are getting deals.
“There’s a pretty active housing market, it’s simply at a lower-priced inventory,” says Michael Feder, chief executive of Radar Logic, a New York derivatives firm.
In San Diego, Calif., transactions are up 90 percent as buyers compete for available bargains.
“Unlike stocks, housing has intrinsic value,” says Barry Ritholtz, chief market strategist of Ritholtz Research, a New York research firm. “Outside of Love Canal or Detroit, house prices do not go to zero.”
Here are the cities where sales are up the most in the last three months:
- Las Vegas
- Sacramento, Calif.
- San Diego, Calif.
- Los Angeles
- Detroit
- Phoenix
- San Francisco
- Washington, D.C.
- San Jose, Calif.
- Atlanta
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