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Which Real Estate Markets Should You Break into Next? – HindSight

Which Real Estate Markets Should You Break into Next?

Breaking into real estate is an exciting prospect. Whether you are hoping to buy a home to rent out or whether you are wanting to invest in commercial real estate, it’s essential to know the individual markets. As you think about these different states, think about the specific factors for your real estate goals.

Idaho

Idaho is surprisingly one of the fastest-growing real estate markets around. With so many families relocating from densely populated states like California, real estate in newly developed areas in Idaho is significantly growing in value.

Idaho’s housing market is about 25 percent more competitive than the national average meaning that selling a home here will likely sell quickly and will almost always sell above list price.

Florida

Florida is another great housing market to look into. With year-round sun, endless fun activities for kids, and lots of great places for retired couples, Florida draws all kinds of buyers. Investing in Florida real estate is a great idea because you’ll likely never run out of buyers or renters interested in your property.

Additionally, investing in Florida real estate has a variety of unique perks. For example, Florida makes a great place to invest in solar panels due to weather and tax breaks. Adding solar panels to a property you own significantly increases the property value and will likely draw more buyers.

Washington

Washington has one of the best housing markets around even through the pandemic. The state itself is appealing for a variety of different reasons—for starters, the area is beautiful. Washington is one of the few states that has it all—mountains, forests, beaches, and lakes. With so much natural beauty, families, young professionals, and older couples alike have so many different activities pulling them in.

When it comes to the actual market, Washington is one of the places for homes in most demand. About half of homes tend to sell above the listing price and within two weeks of listing the home. Real estate in this market seems like it is only going to increase in value.

Finding the right fit with real estate can be challenging—as you go forward with your efforts to break into different real estate markets, consult with professionals. Finding the best property to invest in will work a lot better if you have a really good agent helping you out. They tend to know the market, have connections so they know when properties are becoming available, and they can help you find the best deals.

Read this next: How to Use Leverage in Real Estate to Grow Your Wealth

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