+
The secondary and tertiary markets “are going to be the best options for real estate investors because of the lower prices,” Blomquist says. He adds that while lower prices are good, the combination of lower prices and strong underlying economic fundamentals are what make a market truly desirable. “I think there will still be that strength in the market when you have that combination of affordability, job and wage growth—population growth is the other one I’d throw in there as a good kind of nexus of factors that are going to be the strongest markets in 2017,” Blomquist says. Other markets that institutional investors are heavily into include Memphis; Augusta, Georgia; Lakeland, Florida; and New Haven, Connecticut. New Haven doesn’t necessarily have
a lot of jobs, Blomquist notes, but it’s close to a city with a plethora of jobs: New York. “With some of these markets, it’s not always that there are a lot of jobs right there, but it’s at least access to jobs,” he says. The bottom line for real estate investing in 2017: While still good, experts agree that real estate investing will be more challenging than the past couple of years. “It’s still a very favor- able market, I would say, for real estate investors, but 2017 won’t be as good as 2016, and 2016 wasn’t as good as previous years, honestly, as the market has risen,” says Blomquist. •
RESOURCES
THE DOMINION GROUP www.thedominiongroup.com 410-727-0908
REALTYSHARES www.realtyshares.com 855-880-6050 REALTYTRAC www.realtytrac.com 800-550-4802
Robert Springer is a regular freelance contributor to Think Realty Magazine. Contact him at rtspringer@gmail.com.
14 | think realty magazine november :: december 2016
thinkrealty . com / mag | 15
Made with FlippingBook flipbook maker