Although the US real estate market is getting back on its feet and slowly, but steadily is recovering from 2007 housing bubble, there is still room for foreign investors. Prices may not be as low as they were 5 years ago, but they certainly are not where experts expect them to be. Thus, investing in houses for sale in America is still a good money-making opportunity. And many Australians take advantage of it.
Of course, investing in houses for sale in America still comes with risks, so if you have no experience, hire a professional agent. The more you know about the US real estate, the higher the chances of making the right investment strategy. You may ask why this is important. First and foremost, knowing in which American market to invest is is crucial. Not every city nor state offers same profit-making opportunity. Following are the top markets to buy a property.
#1 – Wichita Falls, Texas – Investors who have bought properties in this north Texas area and have rented them has reported great returns on their investments.
#2 – Lubbock, Texas – Although it has a lot of wide open spaces to build properties on, home prices in Lubbock remain low. In this Texas city, homes sell for almost half of the national median price.
#3 – Syracuse, NY – There is a lot of opportunities for real estate investors to make money in this market. That’s because every fall there is more than 20,000 students returning to Syracuse University’s campus. The University keeps the economy steady there.
#4 – Oklahoma City – A good place to invest in properties if you want to rent. Not only are the prices of house below national median home price, but also the area offers a wide variety of new properties to choose from and schools that appeal to buyers.
#5 – Ithaca, N.Y. – This metro area is full of colleges and schools such as Cornell, Ithaca College, and others that make Ithaca a prime target for foreign real states investors. And although the home prices here aren’t as cheap as in other US markets, you can make up the difference by charging higher rents.
#6 – Austin,Texas – Thanks to the giant University of Texas at Austin campus which enrolls more than 50,000 students, more than 40% of the Austin metro area housing stock are rental units. The increase in occupancy rates are causing the increase in the prices of residential properties too. However, there are still some areas where foreign investors can find good bargain deals.
#7 – Rochester, N.Y. – Alike majority of the markets on this list, several colleges and universities including the University of Rochester and Rochester Institute of Technology are drawing thousands of students to this New York State area each year. Thus, Rochester is a good market to invest in.