myEmpirePROReal estate is all about location, location, location. As the market starts to take a deep slump, there are certain cities that are defining the odds and bucking the nationwide decline. The realtor.com hottest markers list takes the temperature of local markets across the country by comparing demand and supply variables.
Demand is measured by the number of views per listing, while supply is measured by how long listings linger on the market before getting snapped up. For the month of March, Rochester, New York, was deemed to be the hardest market of all for the second month in a row. Located near Lake Ontario, this unassuming city boasted listings that received 2.6 times more views than usual and spent a mere 26 days on the market before buyers pounced. In other words, homes in Rochester are still flying off the market.
Rochester isn’t the only city with hot real estate. In second place, we have Manchester, New Hampshire, an hour north of Boston, where homes received 3.1 times more views per listing and spent only 30 days on the market. In third place is Hartford, Connecticut, where listings received 3.8 times more views than demand, and homes are selling on average within 36 days.
Other cities on the hottest markets list include Columbus, Ohio; New Haven, Connecticut; Worcester, Massachusetts; and Springfield, Massachusetts. Regardless of rising interest rates, buyer demand is high. Given the sluggish state of America’s real estate as a whole, these bustling real estate markets beg the question: what do they have that other cities don’t? The answer is affordable prices. In Rochester, for instance, homes are listed for a median of $257,000, well below the national median of $424,000.
As a wholesaling real estate professional, you need to understanding these thing.
Wholesaling is a popular method of real estate investing where an investor contracts to purchase a property and then assigns that contract to another buyer for a profit. It’s a low-risk way for beginners to enter the real estate market, but it’s not without its challenges.
One of the most difficult aspects of wholesaling is consistency, especially for those without experience or practice. But even if you’re just starting out, there are ways to increase your chances of success.
First and foremost, your presentation is everything. Even if you give a low ball offer that doesn’t make any sense, the way you present it can make people curious and interested in learning more. You can show them some numbers and educate them on the conferences of comparables going on in the area. You can also make the deal contingent upon satisfying certain terms and offer to get them more money if you’re able to close.
But it’s not just about what you say, it’s also about how you present yourself. This includes how you show up, how you dress, and even the body of your email. You want to exude confidence and show that you know what you’re talking about.
And even if you’re just starting out and don’t have a lot of experience, you can still bring value to the table. You can talk about your goals as an investor and how you want to make sure the seller is happy with the deal. You can ask for feedback and make it a conversation, rather than just a yes or no answer.
Ultimately, consistency comes with practice. You might have to fake it till you make it, but with time and experience, it will become easier to present yourself confidently and bring value to every deal. So don’t be afraid to put yourself out there and take risks, because that’s how you’ll ultimately grow as an investor.
In conclusion, the hottest real estate markets in the US right now are those with affordable prices, high demand, and low supply. These cities are defining the odds and bucking the nationwide decline, making them attractive to investors and buyers alike.