Companies Issue 10 Best Markets List, Declare the Foreclosed Housing
DALLAS–(BUSINESS WIRE)–Atlanta, Charlotte, Fort Lauderdale, Riverside (Calif.) and San Diego
have been included among the 2015 Best Markets Top 10 List compiled
quarterly by HomeVestors,
the We Buy Ugly Houses® people, and Local
Market Monitor, the premier real estate forecasting solution. The
list evaluates and rates approximately 300 markets.
“Top markets” mean strong rental markets where home prices are likely to
increase steadily over the next few years, resulting in better returns,
since home bargains will be harder and harder to find. “The boom in
snapping up foreclosed properties is pretty much over,” said Ingo
Winzer, president and founder of Local Market Monitor.
“Our Top 10 list consists of growing markets where higher home prices
already signal more demand than supply, and where renters are at least a
third of the local population. With the exception of Atlanta, where
bargains still exist, home prices are pretty much aligned with local
income,” continued Winzer.
The third-quarter 2015 Best Markets Top 10 list includes:
Orlando, Florida – the large and growing tourism industry
provides plenty of lower-paying jobs.
Dallas, Texas – growing rapidly, with lots of jobs in business
services and finance; many renters despite fairly modest home prices.
Riverside-San Bernardino, California – growing again after a
big real estate recession.
Seattle, Washington – high home prices give many renters little
choice; economy is doing very well despite a moribund manufacturing
Austin, Texas – as with other Texas markets, not enough
construction in the past decade; strong demand for rentals from
government and university workers.
Fort Lauderdale, Florida – renewed growth in a market with a
large retirement population and service providers.
Charlotte, North Carolina – the large banking and business
services sectors provide ample medium-pay jobs; home prices are
moderate but many prefer to rent.
Atlanta, Georgia – recovery from the large number of sub-prime
foreclosures has produced more renters; some bargains can still be
San Diego, California – high (but not outrageous) home prices
produce a large renter population; the large business services sector
– with medium-pay jobs – provides growth.
San Antonio, Texas – increased tourism boosts demand for
“These Top 10 markets demonstrate that real estate investment
opportunity is widespread,” commented Ken Channell, HomeVestors®
co-president. “There are locations with great potential from coast to
coast, in the biggest markets and in smaller cities, if you evaluate
carefully. For instance, while some people might assume any California
real estate is completely overpriced, we see two Southern California
markets that have exceptional values.”
HomeVestors® co-president David Hicks concurs, “Seattle and Charleston
may not seem like they have much in common, but both have the job and
population growth that will fuel rental demand. As the largest
professional home buying franchise in America, our independently owned
and operated franchisees run successful businesses in more than 44
states. They do it by combining solid real estate fundamental principles
with current market intelligence, and we’re proud to say many of them
are having banner years.”
About the Quarterly Data:
The data identifies markets that will be good rental markets and where
home prices are likely to increase at a good rate over the next few
years. Criteria include markets where:
The population has been growing at above-average rates (4% or better)
with growth coming from people moving there in search of jobs;
- The current rate of job growth of 2% or better; and
There is low unemployment, so that new jobs will be filled by people
who move there, not by unemployed people who are already there.
Markets are excluded that:
- Have a small population because they don’t have stable economies.
About HomeVestors of America, Inc.
HomeVestors of America, Inc. is the largest professional house
buying franchise in the U.S., with more than 60,000 houses bought since
1996. HomeVestors® recruits, trains and supports its
independently owned and operated franchisees that specialize in building
businesses based on buying, rehabbing, selling and holding residential
properties. Most commonly known as the “We Buy Ugly Houses®”
company, HomeVestors strives to make a positive impact in each
community. In 2014, for the ninth consecutive year, HomeVestors was
among the prestigious Franchise Business Review’s “Top 50 Franchises,” a
distinction awarded to franchisors with the highest level of franchisee
satisfaction. In 2014 HomeVestors was recognized as the 25th
fastest growing franchise by Entrepreneur Magazine and number 126
in the Franchise 500 by Entrepreneur Magazine. For more
information, visit www.HomeVestors.com.
About Local Market Monitor
Local Market Monitor, the premier real estate forecasting solution,
offers investors in homes and home mortgages the local market risk
intelligence they need to make informed decisions. Using a proprietary
formula called the Equilibrium Home Price, Local Market Monitor
determines if markets are currently over or under valued, equipping
users with a long-term risk and investment perspective. Covering over
300 local markets, Local Market Monitor also presents key investors with
a 12, 24 and 36-month home price forecast. The solution includes sorting
capabilities allowing subscribers to view and compare real estate
markets along various metrics, including an Investment Suitability
Ratings to identify opportunities based on individual investing goals.
To learn more, visit www.localmarketmonitor.com
or call 800-881-8653.
for HomeVestors of America, Inc.
Stacey Gaswirth, 214-213-4675