I often have the opportunity to answer real estate related questions and enjoy sharing the love with some of my answers…
If you had the choice of any of the 50 states, I’d like to know your opinion on the best state today to invest in real estate in terms of attractive low prices, attractive neighborhoods, potential for growth, varied industries in the area to support the area, etc…
Answer from Ryan:
*Disclaimer* Here comes a completely biased answer… :-)
Washington – specifically the area’s surrounding Seattle.
We may not have the largest gains over the next decade – but we also didn’t have the biggest drops in prices like Florida, Nevada, or Arizona. There is only so much land to build on due to Mountains on one side and the Puget Sound on the other. Sort of a natural “growth-protection” against urban sprawl. Nobody can complain about job opportunity here…with Boeing, Microsoft, Amazon, Starbucks, Nordstrom, a large port, and Gov’t jobs in the area – we aren’t dependent on one industry to keep the economy moving along.
You aren’t going to see low prices like you will in Arizona or Nevada, but you can also find area’s that don’t have outrageous prices like some other cities along the West Coast (Southern California or San Fransisco). Any type of niche neighborhood that you’d like to invest in – you can find here. There are also enough bank-owned & foreclosure auction homes to satisfy most investors, but not so many that they will keep prices down for an extended period of time.
If you want nice steady returns, I would put the Seattle-area on your list of potential real estate investment locations.
Ryan Halset, Realtor ®
Boardwalk Real Estate | Seattle, Wa