The worst performing markets, according to a recent report by the Office of Federal Housing Enterprise Oversight (OFHEO), where property values are falling the fastest in the country are Florida with eight (8), California with six (6) and Michigan with three (3).
Merced, California has the honor of being that fastest deflating city in the country with an annual depreciation of -13% over the past 12 months. This is followed by Punta Gorda, Florida at -12%, and Santa Barbara, California, one of the most expensive markets in the country at -12%.
So where are some of the best markets? Well, the US Gulf Coast where markets are rebounding from hurricane Katrina happen to have some of the best investment opportunities for investors today. Housing is affordable, rental numbers make sense, and property values are increasing between 6% to 7% per year. Those are some of the biggest reasons for our Bayside Park investment opportunity in Waveland, Mississippi.