Real Estate Markets Where Appreciation Happens

What are the Fastest Appreciating Real Estate Markets

CNNMoney.com listed recently the best and worst performing real estate markets. If you check out the real estate values, you will realize that they are more in the local element of a state. This simple means that aside from looking at the bigger, state picture of your home’s market value, it is also important that you consider the local factors of the market – even on your street itself.

Based on the CNN Money forecast, if you are looking for the best place to see appreciation values you should check out homes in Southern California. On the other hand should you want to see the worst, well it is interestingly Hanford, California.

Top performing cities includes:

• Merced, Wyoming
• Washington, California
• Corvallis, Arkansas
• Bremerton, Washington
• Tacoma, Oregon
• Bend, Oregon. 

If you observed, the best performing of these cities belong to the Northwestern portion of the country. And the least performing are in the southern and mid Atlantic.

What This Means to me?

As a prospective home buyer, what does this information mean? They are very important if you look at the local aspects. There is a big possibility that your property will not be affected in any way, whether positive or negative, when there are changes in the nationwide trends.

It is important to know what has been happening in the real estate markets because:

1. The appreciation of home values will mean buying a new home is more expensive. Right now, there is appreciation seen in many local cities, as predicted by experts.
2. The home prices and interest rates are quite low. This only indicates that this is the best, perfect time to purchase a new property because of the great deal you will get. If you check and compare data from 5 years ago, you will see how low the home values now are.
3. If you wait for six months to a year before finalizing the decision to buy a property, you will just be likely to pay more since home values have started to creep back upwards.

Knowing this information, you can now weigh in what you should do. Well, the very first thing would be getting and collecting a mortgage loan quotes to see what your options are. Through these quotes, you will be able to see the costs of purchasing a home now and what interest rates you will be paying –whether it is short term or long term you desire.

Contact your lender and talk to him. Get his estimate of the value of your home. You should not forget, however, that you should take a look at the overall goals you aim for in buying. But my suggestion is that if you are planning to purchase a property in the next six months, might as well move now and get pre-qualified for a home loan and see for yourself how much you will get to save before the costs go up.

The Return of Second Home Buyers and Real Estate Investors

According to the National Association of Realtors, vacation home sales increased, and their numbers are even higher than the sale of primary residences. As per their report, vacation homes sales have increased by 7.9%. Primary residence property sales, on the other hand, have increased only 7.1%. Right now, people who are buying these residences in the Colorado Springs or Denver area are buying because they wanted a vacation home. The numbers have spoken: the investment property sales decreased by 15.9% across the country.

Lawrence Yun, Chief Economist of the National Association of Realtors, said and I quote, “The typical vacation home buyer is making a lifestyle choice, with 9 out of 10 saying that they intend to use the property for vacations or as family retreat. Investment buyers primarily seek rental income, with 6 in every 10 people planning to rent to others, although 1 in 5 wants a family member, friend or relative to use the home.”

Are you interested in buying a second home? Will you use that home to make more money as an investment property or would you use it as your family getaway home? No doubt, you will get to see and find beautiful, affordable propertieds available for you to buy. This is actually the reason why a lot of people are considering buying this property.

Second home buyers are quite popular investors. Most of these people are looking for vacation properties to invest in. This is why cabins and resort community homes are in demand. Most of these properties are low priced due to foreclosure. If you think you are the only one looking for these kinds of properties, think again. There are actually a lot of investors looking to invest in properties like these.

If you want to have an in-depth knowledge of these things, contact your mortgage lender. They can give you all the information you will need and provide you with all the mortgage tools you can take advantage of. They can give you access to an all-inclusive mortgage calculator that will give you the details you will need to be able to get a home loan for a second home. Now is the perfect time to start investing. Start moving now and get your getaway vacation home!