Thanks to Betty Fulton of Bray Real Estate for setting the record straight!
GRAND JUNCTION, Colo. (KKCO)_ It’s no secret that the housing market has seen it’s share of troubled waters. But according to a new article on BusinessInsider.com, Grand Junction has the worst out–look across the country.
The article is called “13 Cites Where Investing is a Terrible Idea,” citing Zillow.com as its data source. But now even zillow says it’s not completely accurate.
Zillow says it compiled a list showing the best places to invest in 2011. Comparing price-to-income ratio, home values year–over–year and foreclosure re–sales. But according to the people at Zillow, BusinessInsider used this data out of context to create its article and didn’t take into account that only 100 cities were looked at and that the study focused primarily on investors who were looking at long term–rental income.
Local Realtors agree the market isn’t out of the woods yet, but say it’s definitely turning around.
“I think Grand Junction is an excellent place to invest in both for residential and investment properties. We are still in a slump I know we will see more foreclosures in 2011 more than 2010 but the market is picking up,” says Bray Realtor Betty Fulton.
Bray Realty also says last month was one of it’s best Decembers in several years with sales up around 5%. Low rates are expected to bottom out in 2012 actually making now a good time to invest.