States Where Real Estate is Booming

The fall market may typically be one of the worst times to buy or sell a home, but that’s steadily been changing over the years. With cooler temperatures, less competition, and motivated sellers, more people are buying homes in the autumn than ever before.

So where are the housing markets trending to make a high return on your investment? Get your frequent flyer miles ready, and see below for the best booming markets this year.

Nevada. With a fair price to income ratio and great median house prices of around $260,000, Nevada housing prices have experienced a steady rise over the past five years. Be cautious, however, as the state has seen this kind of boom before, and could be part of a bubble about to burst.

Washington. With Seattle experiencing a massive tech boom, Washington state is quickly becoming one of the most popular states to invest in a home. The home base of Amazon, Boeing and Microsoft are all located there, so Washington has welcomed an influx of employees and in turn, residents.

Oregon. Portland is a quickly growing location, with all of the appeal of California without the high priced housing costs. Starts up are drawn to the area because of its proximity to both Silicon Valley and Seattle, so this has become a scorching market with rising prices, which have remained steady over the past several years.

Utah. Utah has been named one of the best states to start a business, and with beautiful scenery and a friendly population, it’s becoming a great place to live and work. In fact, the population is set to double by 2065, so now is the time to invest a property there while the median housing cost is affordable, and always rising.

Michigan. Even though Detroit was hit hard by the housing bubble burst, the housing prices have risen nearly 7% in the past few years. The median price is a very affordable $138,000, and the supply of houses is plentiful. With so much supply and such low prices, Michigan is worth a look.

Arizona. Another state stricken by the recession, the housing market has not fully recovered. However, this means it’s a great time to invest in real estate while the prices are low, but trending upwards every year.

So what to do after you find your perfect investment home? The best answer is to be prepared. Research financing options that can deliver a quick return, like a direct lender. With a hard money loan, you can secure the financing you need within a few days or a few weeks, and be ready to pounce on these hot markets before the competition sets in. With a fall market, you can get a great property now, and have it fixed up and remodeled in time to sell for a profit in the spring.can get a great property now, and have it fixed up and remodeled in time to sell for a profit in the spring.