Naples FL and Las Vegas NV both positioned for strong price growth
Young people and investors wondering when would be a good time to get back into the USA residential real estate market may want to ponder this one word for a few seconds: NOW!!! Canadian snowbirds looking for that ideal retirement shack need to take a peek at Naples in Florida and Las Vegas in Nevada, for these hotspots currently provide tremendous value for the longterm real estate investor.
Las Vegas homes are now selling for median price of $118,000, down from $314,000 just four years ago. It may be awhile before the 2007/2008 prices are eclipsed, yet if homes make it halfway back to previous highs, today's buyers will experience a 100% jump in value and even bigger rise in equity (assuming a mortgage covers part of the purchase).
When reviewing residential real estate price trends in Naples, Florida, a similar pattern emerges. The median house in Naples now sells for $141,000, yet this same property sold for $391,000 just over four years ago. Naples has a lot of mansion-like homes on or close to waterways, so the 140k actually buys you a lot of house. The other factor is relative strength, as historically Naples real estate sold for more than the Florida and national averages, and that hasn't been the case the past couple of years. Look for Naples to become a semi-Canadian city as thousands of Ontario buyers snap up these great deals!
3 main reasons to BUY USA real estate NOW:
One, bottoming prices!
Two, attractive interest rates!
Three; inflation will return, driving up home prices yet again.
Yes Virginia, it is time to believe in the USA, take the plunge and buy a home for the longterm.
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