Homes for Sale Dayton Ohio - Opportunity!
Remember just a few years ago, buyers and investors were snapping up cheap foreclosures for a starter home or investment and how crazy it was? It's likely to get nuts again!
Dayton Ohio Real Estate - Undervalued 17%!
Dayton area home prices are among the most undervalued in the U.S., according to Forbes, as much as 17% of what they should be ranking the Dayton area as the #3 most affordable market in the U.S. It's almost ironic this news from Forbes came out soon after I published a post on house values in four Dayton suburbs, comparing Springboro with three other Dayton communities..
Some speculate it's a augury of an approaching housing bubble, but I don't believe so and agree with Forbes. Housing bubbles push us into recession, and though homes are undervalued across the county in many locations we're no where near bubble territory yet. Only Akron and Cleveland had homes undervalued more.
I believe as news like this continues to come out, more research is done and with increased awareness, sellers will gain more confidence pushing these values up. For now, it's a ripe investment opportunity. Some communities in the metro Dayton area slid backwards a little bit in 2014 for house values (1-2%) like Centerville, Beavercreek and Kettering, though house values in Springboro were up 6% the last 12 months, but keep watching. I'll bet my next commission over the next two years these values will be drastically different. It still feels like buy-hold-and-rent from an investor vantage, but definitely a good time for first time buyers to consider paying less for a home now.
There is some good news for sellers; house values on average have risen 5%, however, overall the remain an average of 2% less than what they should be.
Forbes Article - Housing Bubble-Watch and Undervalued Markets.
Juanita Limes - Your Greater Dayton Area Ohio Realtor - Give me a shout for all your real estate needs,
937-776-6903 or just email me.