Instead of following the herd to search for $100 distressed homes does it make more sense to invest in the nations’ priciest real estate and if so where’s it at?
Real estate investors have been grumbling recently due to a dramatic increase in competition over fewer cheap homes, while REO prices rise. So why not dodge the crowd and go right for the gold in some of America’s most expensive destinations? It can mean fewer headaches and stress and it could definitely be argued that areas with the best schools, exclusive communities, luxury homes and big incomes are the last to fall in a crisis and the first to rise again when things get better.
According to a CNN Money report America’s 25 top earning towns are:
- Bethesda, MD
- Greenwich, CT
- Palo Alto, CA
- Newport Beach, CA
- Lower Merion, PA
- Ashburn, VA
- Newton, MA
- Hoboken, NJ
- Brookline, MA
- Fairfield, CT
- Arlington, VA
- Ellicott City, MD
- Johns Creek, GA
- Naperville, IL
- North Hempstead, NY
- The Woodlands, TX
- Wayne, NY
- Carmel, IN
- Flower Mound, TX
- Clarkstown, NY
- West Bloomfield, MI
- Highlands Ranch, CO
- Catalina Foothills, AZ
- Eden Prairie, MN
- Sandy Springs, GA
Clearly there are many other wealthy cities and expensive locations for investing in real estate which aren’t on this list from Key West to California but this may give you a few you haven’t thought about investing in yet.
Plus of course every city has its glitzier neighborhoods which investors can hone in on. They don’t have to be huge because the property prices already are. This may mean doing fewer deals but why not work less and make more.
