Is Denver Colorado a Good Investment
Yesterday, I spoke with Larry Hotz who has been selling Denver Real Estate on the south side since 1978. He is a broker with The Kentwood Company which is Denver’s largest independently owned and operated real estate company. I wanted to know how that city is weathering the downturn in home sales and if it is a good prospect for real estate investment.
Larry says home prices have held about even since the first of the year in the better neighborhoods. But, rents for houses for rent have increased over 10% in the last year. Evidently, Denver is experiencing a net gain in population because the economy is healthy and major companies are transferring employees into the market. Still, sales are down about 8% from the year ago period. So, not everyone who moves there is buying a home. Many are going into rentals.
Now, investors can actually expect positive cash flow with 10-20% down payment on single family homes in good neighborhoods. Most investment homes are rented as soon as a sign is posted in the yard. So, vacancy is not a cash flow issue there.
The bottom line is that Denver might be an attractive market for real estate investment so long as Denver relocation by major companies continues.
Florida Real Estate Investing
Investing in Florida real estate used to be a great way to invest your money but the softening Florida market is in a state of flux right now. Read more
San Diego Real Estate Investments
There are many areas across the country depreciating. The big question is: When is the right time to jump in and invest? “Analysts say housing prices in San Diego County held fairly steady last month, but home sales fell to the lowest level in ten years… From June of 2006 to last month, home prices for San Diego real estate were down nearly 2%, though the new numbers from Data Quick show an increase for May to June of about $3,400 to a new median price of $494,500. With sales down to just over 3,999 last month, it was the slowest homes sales month in San Diego County since 1997.” Some real estate experts say we are getting close to the bottom, but there are a few that say we still have a ways to go before the real estate in San Diego hits bottom. Only time will tell. The best thing to do is contact a local San Diego Realtor and depend on their area expertise.
If you do plan to go buy a San Diego real estate investment you may want to consider checking out San Diego vacation rentals to stay in while you are house hunting.