With Housing Down, Some Buying Spots The Boom Bypassed
Report:
The tougher the real estate market gets, the more analyzing location matters.
Not since the dot-com collapse of 2001 have sales of existing homes been so depressed. Residential property values have declined significantly in 46 states, with only Vermont and North Dakota recording marginal increases, according to the National Association of Realtors. Home sales in Seattle, Tucson and Baltimore, for instance,were down more than 40% from a year ago in the third quarter, a recent study by Re/Max International found.
So where can a prudent investor look for value and return when last year's preferred locations have plateaued or depreciated? For some the answer is found in undervalued urban areas bypassed by recent property run-ups.
Take Buffalo, N.Y., in decline for more than half a century. The Rust Belt city is now undergoing renewal and attracting investors.
"It's still possible to get in on the ground floor here," said Anthony Kissling, director of a more than century-old investment firm in New York City, Kissling Interests. He owns 20 buildings in Buffalo with 800 apartments, all of which are rented.
"I'm still looking around," Kissling said. "Property in Buffalo is ripe for the picking."
The tougher the real estate market gets, the more analyzing location matters.
Not since the dot-com collapse of 2001 have sales of existing homes been so depressed. Residential property values have declined significantly in 46 states, with only Vermont and North Dakota recording marginal increases, according to the National Association of Realtors. Home sales in Seattle, Tucson and Baltimore, for instance,were down more than 40% from a year ago in the third quarter, a recent study by Re/Max International found.
So where can a prudent investor look for value and return when last year's preferred locations have plateaued or depreciated? For some the answer is found in undervalued urban areas bypassed by recent property run-ups.
Take Buffalo, N.Y., in decline for more than half a century. The Rust Belt city is now undergoing renewal and attracting investors.
"It's still possible to get in on the ground floor here," said Anthony Kissling, director of a more than century-old investment firm in New York City, Kissling Interests. He owns 20 buildings in Buffalo with 800 apartments, all of which are rented.
"I'm still looking around," Kissling said. "Property in Buffalo is ripe for the picking."
posted by YourMoralLeader at
11:22 AM
1 Comments:
Its very good information related to homes in Tucson real estate . The tougher the real estate market gets, the more analyzing location matters. I suggest as soon as possible one should have a home at tucson.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home