If you have already invested in real estate, you know the ins and outs of what it takes to make a transaction successful. It’s an extremely complicated process that requires meticulous planning and strategic thinking on your part in order to make it a successful investment. Not only do you have the initial struggle of finding the perfect property, but then you have to haggle and negotiate for the perfect price, obtain your loan, go through the closing, and then have a property to maintain and potentially even rent out. (Which if you’ve ever rented, you know that has a whole other series of challenges that go along with it.) At times the entire process can leave you wondering why you got into real estate the first place. But, that thought quickly disappears the minute you start to see your investment payoff.
It’s that very reason that you stayed in the real estate market game, and also why you are looking into expanding your portfolio. However, you’re finding yourself back at square one because you’re looking for that perfect deal or the right market to buy into, yet are unsure. That is why we’re here to help. In this article we will share with you the hottest growing real estate markets in 2017 so you can better be able to add another successful investment into your already seasoned collection.
1. Jacksonville, FL
Jacksonville, Florida is a solid investment market for several reasons. First, in 2016 its job growth rate was reported at being a 3.8% increase, making it one of the best job markets in the state. Secondly, because of this job rate increase, Jacksonville is seeing an increasing amount of people moving into its borders. Because of this, inbound home searches have increased dramatically and therefore make it appealing to real estate investors to snap up properties while the getting is good.
2. Cape Coral, FL
Like with Jacksonville, Cape Coral has also seen a major increase in its job growth rate. In fact, currently it remains fourth in a nation. However, along with this, Cape Coral has seen a huge drop in vacancy rates over the course of 2016. Again, this makes it appealing to real estate investors because of the increasing demand of housing.
3. Deltona, Dayton, & Ormond Beach
By now you may have begun to see a pattern in Florida. All across the state you begin to see an increase in demand for housing. These particular areas are often sought out because of the weather, but they are also seeing an increase in jobs. So, if you’re a real estate investor, poking your head around the Sunshine state may now seem like a pretty good idea.
4. Grand Rapids, MI
Switching our gaze and heading up north, Grand Rapids Michigan is starting to see its economy boom. Its job growth rate has increased 2.7% over 2016, and it’s an extremely diverse community. Jobs range across the board from the medical industry to manufacturing to education. Once again, this is appealing to investors because you’ll be able to find a diverse investment market.
5. Colorado Springs, CO
Colorado Springs, like Florida, has gorgeous weather. In fact, it’s considered one of the most “fittest” states and offers a vast array of outdoor activities. Plus, its climate is extremely mild all year round, and according to the U.S. News & World Report it’s been named the 5th best place to live in 2016. But, this wasn’t just because of the weather. Colorado has also seen a high job growth rate, and an increase in affordable housing. All of this makes Colorado Springs a real estate investors dream location.
These locations along with a few others are good places to have your sights set on in 2017, if you’re a real estate investor. They are all seeing an increase in job rate, and are all showing a demand for housing. So, take advantage now by using Real Estate Virtual tours, while the getting is still good.