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If you are a real estate investor and missed the housing boom, you may get another chance. Overheated in the eastern and western markets are cooling off, but there are new opportunities out there. Some of the cities that sat out the boom of the last few years are now showing stronger appreciation gains. Cities such as Dallas, Houston and Atlanta are showing signs of a strengthening real estate market. Real Estate in hot markets like the San Francisco Bay area market is showing signs of s a slowdown. Prices are rising slowly, however inventory is up. Another sign of slowdown in this hot market is the time it takes to sell a property. Last year some were getting nervous because there were only three multiple offers on a property instead of nine. In one year we have seen quite a change. Now homes that would have sold in one or two weekends are sitting on the market longer. It is not uncommon to see homes sitting on the market thirty to sixty days. This is more like a normal market. Meanwhile in Texas the demand for housing is increasing. With the new boom in the oil market aiding the job market, workers are coming to Texas from the US and abroad. This is putting upward pressure on the housing market. There are no signs of this slowing down anytime soon. While home prices in Dallas and Texas may not appreciate at the high rates of 20% + seen in some areas in the last few years, the appreciation rates should still be healthy. Real Estate Investors have been aware of this and are investing in these markets that have previously been very slow. The Atlanta market is benefiting from a healthy job market. Unlike the Texas markets, the Atlanta market is also seeing a rise in inventory. This rise in inventory should restrain the appreciation in Atlanta. A number of cities in the southwest which have seen high appreciation rates are seeing a strong increase in inventory. Cities such a Phoenix and Las Vegas are also showing a strong job market. Inventories of homes in these cities will need to be watched. If inventories continue to rise sharply, prices will tend to stay flat or fall slightly. Meanwhile the California market is looking vastly different from a year ago. In Sacramento and San Diego the market is cooling rapidly. In California it now takes an average of six months to sell a home. I was not that long ago that in some California markets, homes were selling in one weekend. In California the average home now costs over $500000. This is out of reach for many families. The pressure is now on housing prices to come down in some areas. Higher interest rates, slower sales, home prices beyond the reach of the average family all point to falling prices in some areas. Another scenario is that home prices will remain flat until wages catch up. As the market changes, more and more homeowners are getting caught in foreclosure. As prices appreciated quickly, homeowners who could not meet their mortgage obligations benefitted from an increase in equity. That will not be the case in the coming years. There are a number of sites dedicated to homeowners wanting to sell their homes without a Realtor, investors looking for deals, and agents looking for new business. RealtyTrac is one such site. Here you can find home bargains, sell a home without an agent, and discover your homes value.
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