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Even these have always corrected themselves after a few years, though.
For those who are thinking about purchasing property but areflexible about location, its good to be prepared.
After all, nobody likes surprises that cut into their returns or quality of life.
Job opportunities in the government sector are also still abundant, according to Odarchenko.
But you’re able to still find some very reasonable prices on property this summer.
The state also has a lot to offer in terms of economic opportunities.
Cities like Austin and Dallas offer a blend of high-tech job opportunities and attractive living conditions.
Home values have consistently risen and interest rates remain low.
Cabrera specifically pointed out Las Vegas as one city to buy property for investment purposes.
Las Vegas provides opportunities for cash flow through rentals and appreciation.
Arizona
Arizona also has a lot of potential for real estate investors, Cabrera said.
But if you travel inward to the Piedmont or mountainous regions, prices start to drop a little.
Theres also the opportunity for economic growth.
For example, the Research Triangle Park in Raleigh is a major employer of tech and health professionals.
But the overall cost of living may deter some homebuyers.
The high cost of housing doesnt help either.
Additionally, the states stringent regulations and high taxes further complicate property investment.
During the COVID-19 period, there was an oversupply of property, and the demand has dropped.
Home prices are still reasonable compared to many other parts of the country.
New York
New York is another challenging market, Shirshikov said.
The ongoing shift towards remote work has led to a softening of demand for high-priced urban living.
It all comes down to personal preference and needs.
However, these markets are fundamentally strong and the new construction pipeline is not getting refilled.
On the other hand, Midwestern states could be among the worst to buy with caveats.
Right now, this is where there isstrength and stabilityin terms of rents and values, Barker said.
This is good, particularly if you invested here in the past several years.
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