Inman News, a prominent real estate and technology based website, has named Buffalo the #2 Real Estate "market to watch" in 2011.
The article cites Buffalo's very low foreclosure rate as a major reason why the real estate market is ready to flourish. If you think about it, this makes perfect sense. Less foreclosures equals less discounted or vacant property equals higher demand and higher appreciation.
Foreclosure rates dropped 43.5% in 2010. Buffalo's foreclosure rate of 1 in every 332 homes is dramatically lower than the national average of 1 in every 45 homes.
The key to Buffalo's continuing market upturn is that the bubble market that burst in 2007 never made it to Buffalo. Housing prices did not dramatically spike and then dramatically fall. This allows Buffalo to be one of the very few major markets to actually see price appreciation in the last several years. The economic and job recovery in the region has helped spur the real estate market recovery too.
Obviously, this trend is expected to continue in 2011...
This article spotlights why investing in income producing real estate in Buffalo is such a good strategy. Let's face it, investing in speculative real estate appreciation in not in play anymore in the US Market. It's a buy and hold for income market now. And with all of the good market news coming out of the region today, Buffalo is a prime location to build your investment portfolio.
Friday, March 25, 2011
Thursday, March 17, 2011
Buffalo, NY with the Second Lowest Foreclosure Rate in the US in 2010
Another notable sign here that the Buffalo housing market is one of the overall best in the country. Buffalo ranked in 2010 as having the second least number of foreclosures in the nation. While this is not good news for those out looking to buy foreclosures, those who are looking for a stable place to park their investment dollar should certainly consider Buffalo. High market stability, inexpensive pricing and a great rental market make Buffalo an ideal place to purchase income investment property.
While many investors are heading straight for areas with high foreclosure rates (Las Vagas, Most parts of Florida, Arizona, California, Detroit) a savvy investor will realize that unstable markets such as these are extremely high risk areas of investment. Many of these areas (Detroit and SW Florida in particular) are areas of near total economic ruin where the infrastructure itself cannot function. Speculative investing in these areas will most like lead to financial ruin.
An investment in an income producing, fully rehabbed, turn-key investment property in a stable market like Buffalo will allow for a solid, nearly guaranteed rate of return on your investment dollar.
10 Highest & Lowest Foreclosure Rates in 2010
While many investors are heading straight for areas with high foreclosure rates (Las Vagas, Most parts of Florida, Arizona, California, Detroit) a savvy investor will realize that unstable markets such as these are extremely high risk areas of investment. Many of these areas (Detroit and SW Florida in particular) are areas of near total economic ruin where the infrastructure itself cannot function. Speculative investing in these areas will most like lead to financial ruin.
An investment in an income producing, fully rehabbed, turn-key investment property in a stable market like Buffalo will allow for a solid, nearly guaranteed rate of return on your investment dollar.
10 Highest & Lowest Foreclosure Rates in 2010
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