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RSS FeedInvest or not to invest in the Triangle? That is the question of the day. |
Sep. 14, 2006
Categorized in: Community Details
Tagged with: cary real estate, investments, positive cash flow, raleigh real estate, roi, triangle homes, triangle real estate investments, wake county
I’ve been getting a lot of calls from investors around the country looking to expand outside their current market. As you may be aware there are many areas in the country that have seen a remarkable slow down in the real estate market. To the contrary, certain areas in the Triangle are continuing to see strong growth and low inventories. The main question I’m being asked is where would investors find the best returns?
July sales were down slightly in the Triangle, but overall we have achieved nearly 2% stronger sales year-to-date than 2005. Cary, Raleigh and the Triangle continue to win numerous accolades as the place to start a new business, the place to find affordable housing, the best overall employment & low cost of living, great weather and safest neighborhoods. Our area has been touted as having a terrific business climate and even one of the best places to meet singles. I guess all the downtown urban living trends have paid off.
These awards of national recognition and ratings have been a constant for over 20 years and show no sign of diminishing. It makes a very good case for long term growth. From an investors perspective, let's say the next 5-10 years look very bright for continued growth and prosperity in local Triangle area.
I do recommend high growth areas for maximum gain on residential investing. The bulk of out of state investing has been focused on new home development below 225k. The out of state investor wants to “get in” our market and “get out” fast. That may be just the right approach for some of the new homes neighborhoods. I see out of state investors that never drive across the state line buying many new construction homes on-line.
I recommend a longer approach to investing and would target areas close to new commercial developments such as Southpoint near Southwest Durham , North Hills, West Cary, and North Raleigh. I would say almost any home under 300k should be considered if it has premium location. Homes in these areas usually rent well. If the home breaks even from rental income verse mortgage payment – and is poised for maximum appreciation - it's usually a strong investment.
July sales were down slightly in the Triangle, but overall we have achieved nearly 2% stronger sales year-to-date than 2005. Cary, Raleigh and the Triangle continue to win numerous accolades as the place to start a new business, the place to find affordable housing, the best overall employment & low cost of living, great weather and safest neighborhoods. Our area has been touted as having a terrific business climate and even one of the best places to meet singles. I guess all the downtown urban living trends have paid off.
These awards of national recognition and ratings have been a constant for over 20 years and show no sign of diminishing. It makes a very good case for long term growth. From an investors perspective, let's say the next 5-10 years look very bright for continued growth and prosperity in local Triangle area.
I do recommend high growth areas for maximum gain on residential investing. The bulk of out of state investing has been focused on new home development below 225k. The out of state investor wants to “get in” our market and “get out” fast. That may be just the right approach for some of the new homes neighborhoods. I see out of state investors that never drive across the state line buying many new construction homes on-line.
I recommend a longer approach to investing and would target areas close to new commercial developments such as Southpoint near Southwest Durham , North Hills, West Cary, and North Raleigh. I would say almost any home under 300k should be considered if it has premium location. Homes in these areas usually rent well. If the home breaks even from rental income verse mortgage payment – and is poised for maximum appreciation - it's usually a strong investment.
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