Comparing Residential Real Estate Investments Across Markets
New Investment Assessment Tool Rolling Out
I just read about this new company, SMARTZIP.com, who is now in beta testing but intends to go national next year. They have come up with a system to rate residential property investments across different markets, just like any investor would rate a stock, bond or mutual fund.
I think this is a great tool! We'll be able to see each property's investment ranking for future capital appreciation, as well as for cash flow. For residential property investors, they will be able to compare an investment in Charleston, SC, with an investment in Wilmington, NC.
A word of caution: Nothing substitutes local knowledge. These "generic" tools (like SmartZip or Zillow) have to be considered in conjunction with the local knowledge a REALTOR can provide (generic or national tools have to make some assumptions, and what applies to a whole zip code may not apply to a specific neighborhood). However, it does make the comparison of two different investment properties in two different markets much easier...
I cannot wait until SmartZip rolls out nationally...
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