In the present state of the market, it might very well be the most lucrative and most secure investment in America.
Lets take a glance in the marketplace in Houston right now…
Last May marked the 12th straight month of increase and positive sales in the Houston housing marketplace. Powerful sales on houses from $250,000 and upward shoved the average historical home cost upward to levels.
For prospective investors, one of the main stat is month ending pending sales, which totaled 4,476, up 10.5% since last May. This implies a further increase in sales for the coming months. Foreclosed sales totaled May, an in 7,327 increase of over 24% from that of last year. The substantial quantity of sales has caused the cost of these foreclosed houses to grow 4.1% to over $80,000 per house.
All this favorable news may come as a surprise to a lot of folks. It’s accurate, sellers and buyers alike are experiencing a national marketplace filled with over-enjoyed houses as well as a lack of home buyers. Texas appears to be the anomaly. Why?
Texas has an impressive 11.5% estimated gain increase according to the ROI. Obviously, gain increase does not mean much to investors who have problem locating renters, such as in regions with high unemployment like Detroit and California.