5 Best Real Estate Markets for 2010

by Tim Krulia – Private Money Blueprint CFO

As part of our quest here at PMBP to give you the single best resource on the financial aspects of growing your real estate investing business (aka, we help people find private money quickly, easily, and abundantly)… here’s an article I found that will show you 5 markets you may want to look at in 2010.

Okay, with 2009 behind us… it’s time to start looking at 2010 and how we can all kick some more butt in the real estate market. With our forecasts… getting private money for real estate in 2010 should be about as plentiful as it was in 2009, so don’t hesitate to shoot us a message if you have any questions on that front anytime.

Okay, according to a recent article at the MSN Real Estate site… most of the major real estate markets in the U.S. will still be down in 2010… but, they’ve forecasted these 5 markets below to be the top 5 real estate markets in 2010 as determined by forecasted appreciation rates:

The top 5 cities for home prices

  1. Tacoma, Wash. (+2.44%)
  2. Memphis, Tenn. (+0.99%)
  3. Pittsburgh (+0.89%)
  4. Charleston, S.C. (+0.18%)
  5. Seattle (-0.50%)

These five markets are culled from data on Moody’s Economy.com and based on the largest 100 metro areas.  There are a few other really great points in the article in addition to the “top 5 markets” that you’ll want to take 2 minutes to check out.

I’m a fan of this article because it raises a few great points of interest and is in line with my personal philosophy of how 2010 should play out.

Scherzer writes (and I feel strongly that this is also the case), that “even though there are government stimuli in place (tax credit) and low interest rates (which help stabilize the market’s values) the leading factor that’s going to lead to increasing home values is a turn around in the labor markets first and foremost.

The article lists their potential top 5 cities for the housing market in 2010.  A leading factor used to determine the values includes looking at the labor market & the economies of the listed cities.

She includes some great statistical content about 2008, 2009 and probable 2010 foreclosures and also how they may relate to ARM mortgages making their first adjustments.  Don’t miss the link for RealtyTrac and all the foreclosure listings (http://www.foreclosurelistings.com/).  If you don’t know about this website, you should check it out ASAP!

Note that if you are in the business of buying foreclosures, this article notes an expected increase from 3.2 million foreclosures in 2009 to 4 million in 2010! As we know, one of the smartest ways to buy real estate is by using private money.

If this is your business, I think it would be smart to be aggressive recruiting funds now to take advantage of this next huge round of “low hanging fruit” to buy this year.  There’s some great free articles and resources here on this blog under the “Private Money Articles” section that you can refer too.

So, whether you’re investing in one of those 5 markets or not… it doesn’t really matter.  There’s deals everywhere and there’s buyers everywhere… just clarify your strategy in whatever real estate market you’re in and get ready for 2010 and the continued wave of sub prime and Alt A foreclosures (and the wave of commercial foreclosures starting to pile up too).

– Tim

————————————– Highly Recommended ————————

AUTOMATE YOUR REAL ESTATE WHOLESALING BUSINESS – This new software I ran across last month is built by wholesalers… for wholesalers, and completely automates the whole wholesaling opertion. It automates the websites (it sets them up for you), property listings, it creates your squeeze pages, automatically posts to Craigslist and other sites, automatically finds your cash buyers, creates your documents and contracts, collects your leads, analyzes your deals and tells you what to offer, runs your comps, follows up with your leads, et.  Whew! That was a mouthful.  Here’s a full DEMO video for you to check it out for yourself >>  Go here to check out the demo video now.