While our realtor Erin Naomie was analyzing properties for local banks she came across a interesting find… Youngstown Ohio appreciation has increased by over 22%. This is one of the biggest jumps she has seen after years of working in real estate. In this article she discusses factors that may have influenced this appreciation.
There are multiple strategies one could take to successfully invest in real estate. Some prefer the cash flow method, where you purchase right away. After the purchase you start receiving an instant flow of cash from the property.
This can make you a lot of profits in the long run. Others prefer the appreciation strategy, where you buy a home that is valued low in hopes of an appraisal increase. The appraisal increase allows you to turn around and sell the house for more than you paid, which could result in high profits in a lump sum. Though more risky, the appreciation strategy results in much more profits than a cash strategy. For example, if someone purchased a home a couple years ago before the Youngstown Ohio appreciation raise, they would be trying to sale around now. This is the time when that investors gets to cash in on a risky move.
But how does one predict when rates are going to increase? That is why we have Youngstown’s rockstar agent Erin Naomie, to scope out local markets and find us the best deals. Erin sees no end to the Youngstown Ohio appreciation increase currently happening. She gave us many factors to why these numbers will continue to grow.
Erin praised companies such as The Youngstown Neighborhood Development Committee (YNDC) on its dedication to assisting in the local economy. YNDC helps the community by tearing down vacant houses, re-purposing vacant lots into urban farms, designing access to fresh food, and by employing a few dozen young people from at-risk communities over the summer. With this effort, property values are raising in the city. This makes now a better time than ever to invest in Youngstown. For more information on YNDC and how to help, visit: http://www.yndc.org/
Downtown Youngstown has grew into a lively strip full of restaurants, bars, venues, and museums. The downtown community is so tight and committed they formed a Downtown Youngstown Partnership to help bring people to their businesses and attract visitors to the city. Youngstown is also home to the Covelli Centre, which houses hockey team Youngstown Phantoms. It also hosts concerts featuring Pitbull, KISS, Lionel Richie and many more. Companies like the Youngstown Business Incubator and America Makes, a national institute for 3D printing, have employed over 400 people since 2011 and continue to expand in Youngstown. Here is a link to all of the dining options downtown Youngstown: http://bit.ly/2vPRubW
Up the street from downtown is Youngstown State University which has seen an increase in enrollment as well and had dormitories at capacity last two semesters. YSU along with these local companies are bringing more opportunities to the city, increasing population, and overall positively affecting the economy.
Not many places have recovered well from the housing market crash years ago, however Youngstown has prevailed and now shines. Evidence of this is in the 22% increase of Youngstown Ohio appreciation. The market is filled with affordable houses, single family and multi-family, that are currently experiencing an increase in appreciation. If you are thinking about investing in real estate, consider investing in Youngstown Ohio. We offer property management that could increase the chance of instant equity in this growing town. After working with investors who are now seeing major profits from this small town in Ohio, our confidence is high that you can succeed with us. We have tons of connections, knowledge, experience, and passion about the Youngstown area and would love to help you invest here. Learn more about us at our About page now!
For more information regarding real estate investing in Youngstown and property management visit www.investyoungstown.com or call us at (330)729-9404