Great Time to Invest in Minneapolis Real Estate?

HomeVestors of America Inc., otherwise known as the “We Buy Ugly Houses” people, has named the top ten real estate investing markets for the first quarter of 2008. HomeVestors buys, refurbishes, and sells modest homes. The company based its findings on the number of houses bought in each market by its franchise network during the first quarter of this year. The full list is as follows: Top Ten Cities For Real Estate Investing, 1st Quarter 2008

1. Dallas, Texas
2. Houston, Texas
3. Atlanta, Georgia
4. Fort Worth, Texas
5. St. Louis, Missouri
6. Philadelphia, Pennsylvania
7. San Antonio, Texas
8. Denver, Colorado
9. Minneapolis, Minnesota
10. Phoenix, Arizona

It is important to recognize that this is only one organization’s measurement of the market, but there may be something to it. Conditions in Minneapolis have created a unique buyers’ market. As this previous post discusses, the price of homes across the Twin Cities area tumbled in February. At the same time, the market has been flooded with homes for sale. To make their homes more appealing in this competitive market (and to get rid of unwanted properties), sellers have aggressively lowered their sale prices. All this adds up to plenty of available real estate at rock bottom prices. Okay, so maybe HomeVestors is on to something, even if their methods don’t appear to be all that scientific.

Real estate investment isn’t for everyone. Not every person wants to be or should be a landlord. But if real estate investment is something that has interested you, now may be the time to act.