Tuscan, Arizona is one of the best places for real estate investment. There are several opportunities for those interested in buying condominiums or town homes as investment. Best thing to do here is to rent out a home, collect rental income and wait for price appreciation on properties, according to a study prepared by Realtor.com.
"There's no real shortage of renters, either, since many people still don't qualify for mortgage loans," said Steve Berkowitz, chief executive of Realtor.com.
Realtor.com ranked the city number one this year. "Homes are selling 12 percent faster than a year ago. The area has the benefit of being a vacation destination as well as a college town," Berkowitz said.
Next comes Austin, Texas, "Austin has been a little of a clone of Silicon Valley, in terms of tech (businesses)," Berkowitz said. When the entire country was not doing well in real estate investment, the prices didn't drop down here. "The median list price for a home in Austin was $229,500 in February. Yet Austin home buyers aren't immune to tighter lending standards, meaning that many will not be able to qualify for a mortgage - increasing the need for rental inventory," Berkowitz added.
Number three is Kansas City, prices are recovering here. According to Realtor.com, the average price for homes here is $134,950 (as on February), a 4 percent increase in prices compared to the previous year. "You're starting to see a little bit of that economic recovery work its way through some of Middle America," Berkowitz explained.
According to Realtor.com Baltimore is rated as number four for investing. There is a 3 percent increase in prices compared to last year; an average house here costs $239,500. Appreciation price is considerably high in the city.
Fifth best place for investments is Fort Worth, Texas. According to the report, homes are being sold 20 times quicker than the previous year. The average price here is $1.6 million, 8 percent higher than last year.