Finding A Good Rental Area

A good rental area is where tenants are plentiful and can afford the rent, and there is not an oversupply of rental housing. How do you find such an area? 

Here are some important tips:

Jobs & Employers

1. First, look for an area where there are many employers to provide a steady base of employed tenants! 

Avoid older homes

2. Avoid older homes. They tend to need more care for maintenance issues, such as plumbing, electrical, roof leaks, and worn-out appliances. 

3. Avoid large lots or large homes with pools. A big lot requires big maintenance. Also, when it comes to resale value, you will find that a big lot will provide only marginal returns for your money. 

4. Beware homes on busy streets! Proximity to high-traffic streets knocks down the value of the home. These houses may be attractive as rentals, but they can be difficult to resell later on. 

Rental Values

5. Finally, check out the rental values within the region. 

Source: Zillow

Sources:

Robert Irwin

Zillow Data

The 10 Top Cities to Buy a House in America

Data company Niche recently released its list of the top cities in which to buy a house based on home values, property taxes, public school rankings, and other factors. Here are the top 10 places on the list. With four cities on the list, the Lone Star State dominated the rating! 

1. Plano, Texas
2. Overland Park, Kansas
3. The Woodlands, Texas
4. Rochester, Minnesota
5. Richardson, Texas
6. Naperville, Illinois
7. Round Rock, Texas
8. Huntsville, Alabama
9. Palm Bay, Florida
10. Cedar Rapids, Iowa

Source: 

Niche.com

Why Cities Lag Behind Suburbs in the Housing Recovery

By  LAURA KUSISTO

Despite a boom in urban living and rapid run-ups in home prices in many cities, urban homeowners with mortgages are struggling more in the recovery than their suburban counterparts, according to new research.

More Info: The Wall Street Journal

http://blogs.wsj.com/economics/2016/08/18/why-cities-lag-behind-suburbs-in-the-housing-recovery/