Find Gold In The Heartland Of America’s Property Market
Friday, September 3rd, 2010With the pounds value increasing to a 5 month high against the US Dollar and the amount of people looking for property to rent rising due to continuing foreclosures, it would seem that the opportunist time to invest in the US remains very much open.
Over the past 18 months a steady wave of foreign investors have snapped up BMV real estate at bargain prices with the states of Florida and Michigan receiving the lions share of interest however now, as these markets stabilise in line with national economic recovery, savvy investors are looking for the next buy-to-let hotspot.
And it is the Heartland of America that is attracting attention. The mid-western states of Ohio and Missouri, home to the growing cities of St Louis, Kansas City, Toledo and Columbus, present a very appealing investment environment with sustained demand for rental accommodation generated by the large employment base and detached family homes available at up to half below cost to replacement build.
Steven Worboys, MD of USA property investment experts, Experience International, comments,
“There is huge demand for rental accommodation from working families in the mid-western cities such as St Louis and Toledo. Up to 50% of residents in St Louis rent their homes with most of them requiring detached family homes. Property prices in these cities are well below the national median of $182,600 (Zillow.com) and owners can expect rental incomes of up to 12.5% in addition to capital gain.”
Combined these cities hold a population of over 6 million and have faired the economic storm better than many other higher profile cities. The US Department of labor statistics show that Kansas City has held a lower unemployment rate than the national rate with the healthcare and service industries replacing most jobs lost in the manufacturing sector and Columbus has been ranked the nation’s 6th most stable market by Standard & Poor’s as well as one of the 10 safest real estate markets in the US by the P.M.I. Institute.
National Association of Realtors statistic’s revealed that property prices in St Louis for the first quarter of 2010 were higher than the previous 12 months with appreciation at 15.1%, Toledo showed 13.3% appreciation, Columbus 6.3% and Kansas City 3.2% over the same period.
Worboys continues,
“Many believe that the whole of the US was affected to the same extent by the recession but this is simply not the case. Yes some states saw considerable unemployment and as a consequence thousands of foreclosed properties but many states such as those in the Heartland due to diverse employment sectors avoided worst case scenarios and now as the economy shows continued although slow growth these cities are the first to recover.”
It is this recovery that savvy foreign investors are keen to take advantage from. this attractive USA property investment market. With 3 bedroom detached family homes available from as little as $24,500 with 50% Loan to value.Fully refurb’drefurbished homes in desirable after locations can expect to deliver up to $860 per month in rental revenue and are sold with tenants already in place on long-term leases. A year’s home maintenance is also included and investors cantake advantage of exclusive finance packages available.
To find out more about investing in real estate in Heartland America then contact the experts at Experience International on + 44 (0) 207 321 5858 or go to Experience-International.co.uk.