smart zip tracy top 10 real estate investment market report july 2009
Post on 20-Jun-2015
411 Views
Preview:
DESCRIPTION
TRANSCRIPT
TM
Local Expert Insights
• Almost 100% of current supply is either short sale or bank-owned (70% short sale)
• Recommend zip code 95353 for investors
• The market has stabilized some, but we are still likely not at the bottom, so expect further price declines
• More bank-owned homes will be hitting the market as lenders stop holding off the foreclosures
• Most investors are buying and holding, seeking appreciation or income, not flipping
• Rental market is strong due to foreclosures
• Creates a great buying opportunity if you are willing to hold for a year or two at least
Overview Tracy is located in San Joaquin County, about 60 miles east of San Francisco. Beginning in the 1980s, Tracy experienced growth as people began looking for a more affordable alternative to Bay Area home prices, and a less hectic lifestyle. A steady period of growth ensued, as many companies found Tracy an ideal location for their distribution facilities.
The city today is home to several distribution facilities and is setting its sights on emerging industries, including expansion of hi-tech companies from the Silicon Valley. The recent economic recession has put much of this expansion in a holding pattern, but with a focus on new, emerging technology and silicon valley business, Tracy is positioned well for a recovery.
On the Map
July 2009 | www.SmartZip.com
TRACY, CA
Key Investment Metrics
Average SmartZip Score™ 69 Growth
59 Income
Average Market Value: $248,354
$130 per Sq. Ft.
10-Year Proj. Appreciation: 46%
Average Monthly Rent: $1,554
Average Cap Rate: 3.3%
10-Year Proj. Population Growth: 39%
Tracy, CA Heat Maps
About the Top 10 Markets The SmartZip Top 10 Markets™ is a featured list of the top rated markets hand-picked by our panel of investment analysts. Candidates for the list are identified using our proprietary SmartZip Score™ ratings averaged across the Growth and Income investment strategies. Learn more at www.SmartZip.com
www.SmartZip.com | ©2008-2009 SmartZip, Inc. All rights reserved.
10 Year Job Growth School Ratings
Investment Market Comparison
top related