St Louis makes list of 100 best places to invest in rental property

st-louis-realtor-dennis-norman-best-places-to-buy-rental-propertySt Louis made the list of the “Best 100 U.S. Markets to Invest in Rental Property“, developed by HomeVestors and Local Market Monitor, coming in right in the middle at number 50.  Las Vegas was in the number 1 slot and California was the star of the show with 12 metros on the list

There are good opportunities for investors in every one of the top 100 markets,” said HomeVestors’ co-president, David Hicks. “But investors would be wise to take into account other dynamics for the ideal timing to enter the market.” Hicks sites job growth as a key indicator of a market prime for investment. “Higher job growth rates normally indicate a stronger market for rentals,” he said. “Strong growth rates and higher risk-return premiums usually point to the best markets to invest in now.” Continue reading “St Louis makes list of 100 best places to invest in rental property

Report shows St. Louis metro prices to decrease by 2% in next 12 months

Dennis Norman

Dennis Norman

By: Dennis Norman

A report published by Local Market Monitor, Inc. predicts the St. Louis metro area will see real estate values decline 2% in the coming 12 months.  This projection does not sound bad and would support the possibility that the market is leveling off and perhaps we have seen the bottom.

Local Market Monitor June Graph

Local Market Monitor Graph - St. Louis Metro Area, Home Values Forecast vs. Actual

The report also states that in the St. Louis metro market jobs have fallen by 2.5% in the past year, compared with a drop of 4% nationwide.  According to Local Market Monitors “Equilibrium” report, home prices in this area are “balanced”, meaning not over priced, nor under priced.  They also note that home prices in our market are 27% lower than the national average.