houseThe real estate bargain is overflowing with great options for both investors and prospective homeowners. If you place yourself in one of these categories, you’ve likely seen a number of these deals kicking around the market. All sectors of the real estate market lost value when the bubble burst in 2007. Anyone with the capital to invest can see the opportunity in properties valued well below their peak prices. You don’t have to talk to a broker to find the best deals in your area of interest. Move your family into a new home or expand your real estate portfolio by looking in these two places for great housing deals.

Rural properties

There’s a term in economics called velocity. The velocity of a commodity like housing has to do with how fast it moves from buyer to seller to buyer to seller. Rural properties have always had a lower velocity than their urban counterparts. This fact has more to do with population density than anything else. When the housing crisis hit, that velocity slowed to a crawl. Rural housing markets are saturated with properties that were priced to move five years ago. If you look hard enough, you may be able to find a great country or vacation home for yourself at an excellent price.

Recently gentrified neighborhoods

In America’s urban centers, gentrification was clipping along at a rapid pace in the 90s and 2000s. Previously crime-ridden neighborhoods became prosperous, bohemian havens and property values skyrocketed. Rising property values led to new developments. When the market tanked, many of those developments stalled and the ones that were finished struggled to find buyers. Property values remained stagnant and some even went down. If you look around areas like the East Village and Little Italy in downtown San Diego you will find a number of empty housing complexes begging for buyers. Some of these complexes, originally intended for sale, have even resorted to renting their units. Any one of these options presents a great opportunity for the savvy investor or aspiring homeowner.

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