The best 10 real estate markets in 2014 for investors to make a profit are scattered across the U.S. and can often be found in cities where foreclosures have been a major issue for local economies. However, states with the most foreclosures, including Florida, Ohio and Illinois don’t necessarily provide the swift upward appreciation that most investors want.
Home values have seen strong increases in many areas of the country over the past year, including double-digit hikes in many of the hardest hit regions like Las Vegas, the nation’s foreclosure capital for more than four straight years. But as home sales slow due to higher mortgage rates and a soft economy, prospects for home prices to climb more quickly weaken.
|Nonetheless, some housing markets are always better than others, which is what attracts investors to buy real|
|estate in different cities. Exceptions may be the investors’ rule for buying investment property in 2014 as they search for better areas to turn a profit.|
Albuquerque, New Mexico leads Money Examiner’s top 10 list for investors this year as it slowly positions back into a stronger real estate market given a more mobile economy than it was once known for these days. Atlanta, Georgia finds itself second in the best 10 real estate markets as the southeast’s strongest city moves back into more prosperous economic times.
Atlanta was hit hard by the Great Recession, but things are starting to come around as businesses hire more workers and consumers return to make more investments in real estate.
Las Vegas still has a lot of recovering to do in terms of home values, which is why it lands the third spot, with average appreciation topping 26% for the past 12 months. Nevada lawmakers may be making the difference when it comes to banks ripping-off homeowners, instituting new laws to make foreclosures illegal without proof of ownership and forcing short sales to be approved or denied within 30 days from the time an offer on a home is made.
Denver, Colorado landed fourth. The mile high city has been booming with economic growth, while so much of the country has still been hurting. San Antonio, Texas places fifth. Eight states are represented on the annual list.
Counter to a national trend of declining foreclosures, February foreclosure starts jumped from a year ago in 14 states, according to RealtyTrac. The increase demonstrates a clear picture that the foreclosure crisis is far from over, giving investors plenty of time to find a bargain to make a profit.