Considering that the housing bubble burst from 2008, land values are steadily regaining across the nation — but a few towns are recovering quicker than many others. According to Kiplinger.com, a couple of top performers have observed double-digit property worth percentage gains from 2011 to 2012. The towns all have populations of over 500,000, and may be a fantastic place to begin looking if you are in the market for an investment land — but bear in mind that land values can change quickly, so assess real estate assessment websites such as Zillow.com for up-to-date info.
1. Phoenix, Arizona
One year cost increase: 28.4percent
Median home price: $160,000
Homes in Phoenix are in high demand — recently vendors obtained 100 percent of the asking price, and sold their land within an average of 45 days.
2. Provo, Utah
One year cost increase: 21.8percent
Median home price: $192,050
The next biggest city in Utah has witnessed stable property value gains, due in part to the financial increase of neighboring Brigham Young University.
3. Cape Coral-Ft. Myers, Florida
One year cost increase: 19.5percent
Median home price: $124,300
This holiday destination has been dominated by condo property, and has recovered more rapidly than a number of other areas of Florida.
4. Minneapolis, Minnesota
One year cost increase: 16.8percent
Median home price: $188,000
Although a lot of the Midwest was hit hard by the housing market recession, Minneapolis is well on its way into a solid economic recovery.
5. Akron, Ohio
One year cost increase: 16.5percent
Median home price: $95,000
Another Midwest town has seen promising property developments during the previous couple years. Even though the average time a house takes to market a house in Akron remains relatively high, it has decreased significantly from one year before, and should continue to drop.
An investment property is not the sole reason to check at those places. If you intend to move soon, look at obtaining a mortgage in a place where property values are on the increase — it might make your new house buy a solid long-term investment.