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SOURCE HomeVestors of America, Inc.
DALLAS, Dec. 27, 2013 /PRNewswire/ -- Fort Worth and Dallas sit in the first and second spots among the top 10 housing markets in the country for investing in single family homes, according to new data compiled by HomeVestors (known as the "We Buy Ugly Houses®" company) and Local Market Monitor. Job growth, particularly in lower paying jobs, population growth and relatively low home prices are factors making investments in single family homes as rental properties a nearly risk-free opportunities in Fort Worth and Dallas as well as several other markets across the country, explained Ingo Winzer, president and founder of Local Market Monitor.
"Fort Worth and Dallas have low unemployment rates, 5.9 and 6.0 respectively, coupled with strong population and job growth rates and home prices averaging below market value -- 20 percent for Fort Worth and 12 percent for Dallas -- which makes them ideal market for investing in single family homes as rental properties," said Winzer.
Markets in the top 10 include Fort Worth (1), Dallas (2), Charlotte (3), Nashville (4), Houston (5), Atlanta (6), Oklahoma City (7), Orlando (8), Las Vegas (9) and Boise City (10). "These markets also have strong home price appreciation, but are still underpriced by as much as 28 percent," Winzer said.
"We think the markets hold considerable opportunities for investors as long as they do not over pay for properties," said David Hicks, HomeVestors co-president, noting that risk of investing in all markets across the country remains low. "Only seven of the top 100 markets continue to be ranked as 'speculative.'"
These include Columbia (SC), Los Angeles, Gary, Providence, Buffalo, Toledo and Cleveland. "These markets continue to have weak population and job growth that makes them more risky investments," Hicks said.
Hicks noted that the strong markets have fueled unprecedented growth in home purchases by HomeVestors® franchisees. "We just passed the 55,000 mark in the overall number of homes we purchased company-wide," he noted, "and we're on track this year to considerably outpace our 2012 total of 2,500 homes purchased in a 12-month period."
About HomeVestors of America, Inc.
Dallas-based HomeVestors of America, Inc. is the largest professional home buying franchise in the U.S., with over 55,000 houses bought since 1996. HomeVestors recruits, trains and supports its independently owned and operated franchisees that specialize in building businesses based on buying, rehabbing, selling and holding residential properties. Most commonly known as the "We Buy Ugly Houses®" company, HomeVestors strives to make a positive impact in each community. In 2013, for the eighth consecutive year, HomeVestors was among the prestigious Franchise Business Review's "Top 50 Franchises," a distinction awarded to franchisors with the highest level of franchisee satisfaction. For more information, visit www.HomeVestors.com.
About Local Market Monitor
Local Market Monitor, the premier real estate forecasting solution, offers investors in homes and home mortgages the local market risk intelligence they need to make informed decisions. Using a proprietary formula called the Equilibrium Home Price, Local Market Monitor determines if markets are currently over or under valued, equipping users with a long-term risk and investment perspective. Covering over 300 local markets, Local Market Monitor also presents key investors with a 12, 24 and 36-month home price forecast. The solution includes sorting capabilities allowing subscribers to view and compare real estate markets along various metrics, including an Investment Suitability Ratings to identify opportunities based on individual investing goals. To learn more visit www.localmarketmonitor.com or call 800-881-8653.
CONTACT: Susie Lomelino
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