Where to Invest?

By Jordan H • October 7th, 2010

housing_in_hand

Where to invest?

In the tumultuous real estate market, it’s hard to know where a good place to put your money is.The first answer that may surprise you is… Upstate. Albany is a newcomer to the top 10 best places for a conservative investor to buy some property.

A new report From Local Market Monitor profiled by the Wall Street Journal puts the capitol alongside Tulsa, Oklahoma and San Diego, California as a newcomer to the best places to invest. The firm used data through Sept. 30 for 315 U.S. markets, and has built its reputation using “equilibrium” home prices to make forecasts (meaning the values homes should have in relation to population, job growth and income.)

A high-ranked place for investors will be judged based on price-appreciation instead of rental income, a positive three-year home price forecast and a stable employment. For these rankings, only towns with more than 200,000 residents were ranked. At this point, good markets for conservative investors are showing signs of price stabilization, while dangerous markets show a strong possibility of prices falling further combined with a poor local economy.

So who’s new to the top of the list? El Paso, Cincinnati and Worcester. Ocala, Port St. Lucie and Boise City, on the other hand,

Here are the rankings:

Top 10 Conservative Metro Areas

  1. Tulsa, Okla. new
  2. Oklahoma City, Okla.
  3. San Diego-Carlsbad-San Marcos, Calif. new
  4. Albany-Schenectady-Troy, N.Y. new
  5. Indianapolis-Carmel, Ind.
  6. El Paso, Texas
  7. Winston-Salem, N.C.
  8. Cincinnati-Middletown, Ohio-Ky.-Ind. new
  9. Worcester, Mass. new
  10. Louisville-Jefferson County, Ky.-Ind. new

Top 10 Dangerous Metro Areas

  1. Ocala, Fla. new
  2. Lakeland-Winter Haven, Fla.
  3. Reno-Sparks, Nev.
  4. Orlando-Kissimmee, Fla.
  5. Deltona-Daytona Beach-Ormond Beach, Fla.
  6. Port St. Lucie, Fla. new
  7. Las Vegas-Paradise, Nev.
  8. Boise City-Nampa, Id.  new
  9. Prescott, Ariz.
  10. Cape Coral-Fort Myers, Fla.

Photo Credit: thinkpanama

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