By almost every account, 2013 was a great year for real estate investors who took advantage of the opportunities presented to them. The current state of the housing sector recovery has nearly returned home values to their pre-bubble highs and equity has reduced the number of underwater mortgages. Those who invested at the right time are experiencing incredibly high profit margins. However, with the current trajectory of the recovery, those interested in buy-and-hold properties may be the biggest beneficiaries of them all.
Current conditions favor buy-and-hold investors, as they are able to recoup any losses that may have occurred during the recession. With rental rates reaching an all-time high, it is no wonder investors are trying to scoop these properties up at an alarming rate. However, with that being said, where can investors find these properties? As this trend becomes more popular, good deals are harder to come by.
One market, in particular, has gained some momentum. RealtyTrac analyzed housing and economic data from resort towns with some of the nation’s top ski resorts to come up with a list of some of the top ski resort towns for real estate investing. They considered factors such as the town’s unemployment rate, distance from the nearest airport, foreclosure inventory for finding bargains, rental vacancy rate, gross rent yield, and median list price.
Taking into account each of these factors, the following list acknowledges the top 5 ski resort towns for real estate entrepreneurs to invest in buy-and-hold properties:
- 1.) Whitefish, Montana: Whitefish currently has a median list price of $249,736 with a gross rental yield of 5.21 percent.
- 2.) Vail, Colorado: Vail currently has a median list price of $626,142 with a gross rental yield of 2.96 percent.
- 3.) Truckee, California: Truckee currently has a median list price of $379,492 with a gross rental yield of 4.88 percent.
- 4.) Avon, Colorado: Avon currently has a median list price of $459,658 with a gross rental yield of 4.03 percent.
- 5.) Jackson, Wyoming: Jackson currently has a median list price of $647,042 with a gross rental yield of 2.71 percent.