What may come as a surprise is that all of these cities were North Texas suburbs. Frisco came in as the number one Texas commercial real-estate market followed by McKinney and Allen. Richardson came in fifth and Carrollton squeaked in the top 10 at number 8. When ranked by top real-estate markets alone, Allen was added to the top 10. Other cities in this category included Seattle, Denver and Nashville. Seattle also showed up as the city where houses spend the fewest days on the market.
These specific areas showed up as the best and worst for each of the following categories:
· Percentage of homes with negative equity: Lowest—Berkeley, CA / Highest—Bridgeport, CT
· Average days on the market: Lowest—Seattle, WA / Highest—Albany, NY
· Median home-price appreciation: Highest—Richmond, CA / Lowest—Newark, NJ
· Foreclosure rate: Lowest—Ann Arbor, MI / Highest—Springfield, MA
· Delinquent mortgage holders: Lowest—Santa Clara, CA / Highest—Newark, NY
· Unsold homes owned by banks: Fewest—New Orleans, LA / Most—Detroit, MI
So, in light of the above, is now a good time to buy? According to James P. Gaines, Chief Economist at the Real Estate Center at Texas A&M University, the answer is a resounding yes. Like many, he sees the biggest downside in the current historically low supply. He does not foresee the increased interest rates that are sure to come from the Federal Reserve in 2018 having much of an impact. He also believes that the top 5 indicators for a healthy housing market include job growth, population growth, family income growth, new home construction and home prices.
The Texas economy is expanding. As of August 1, 2017, 188,000 new jobs had been created and the statewide unemployment rate posted the largest decline in America. Given that 5 of the top 10 cities were found in Texas, it would seem that this, the second largest state in the nation, is a good place to start placing some of your investment and development capital, and others would agree. Residential construction activity increased while the lending index dipped due to multifamily construction decline. Texas led the way in total issued building permits and average days on the market fell to 56 days while Dallas’s days on the market went below 30.
Finding the right market for your project is one of the most important steps you can take when creating a profitable real estate portfolio. The other is finding the right type and amount of funding. At Level 4 Funding, we offer various types of loans from bridge to construction to commercial private hard money. If you can dream it, we can often fund it. Call us for a no-obligation quote.
Level 4 Funding LLC Private Hard Money Lender
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.