Choosing the location for your family home is one of the most important decisions of your life, and while it is important to factor in considerations such as the local school ratings, crime statistics, and employment opportunities in the area, something else that should be factored in is how likely the property is to sell, and the areas that have seen the most off-market estate transactions
Off-market real estate refers to properties that are not actively marketed or sold through traditional estate agents and has become an increasingly popular trend, particularly in major cities or desirable areas. This is due to the discreet nature of the sale, which can be useful for high-profile personalities or families going through financial and personal issues, or simply if the homeowner doesn’t want to deal with multiple bidders. For the majority of cases, off-market sales are of benefit to both the buyer and seller – homeowners can save on substantial estate fees and are dealing with just one interested party, while buyers can negotiate a price without the influence of multiple bidders or have the opportunity to purchase their dream home rather than wait for it to hit the market.
To uncover the best major cities for this, along with the hidden gems across the country, our research looks at the main house buying factors and the likelihood to sell.
The research analyzed 12,132,366 properties, taking into consideration house prices and average loan to value (a financial ratio that compares the amount of money being borrowed to the market price of asset being purchased) and the likelihood to sell ratio, along with population density (working on the assumption that increases are a measure of location desirability), neighborhood safety, school ratings and employment status, as well as loan to value rates.
Key Findings
- Atlanta, Georgia, had the best ranking of all the major cities analyzed for likelihood for the properties to sell.
- Arizona’s capital Phoenix came second of the places that are most likely to sell.
- Charlotte, North Carolina, topped the index for the best city to live, due in part to reasonable housing costs ($588,189) and a relatively safe crime ranking.
- California was the state with the highest number of cities in the best places to live rankings, with nine of its cities making the top 50 rankings.
- Texas was the state that saw the second highest number of cities to make the rankings, with two making the top ten – Fort Worth in 6th and Houston in 9th.
Best Major Cities For Off-Market Real Estate Properties
To understand the best major cities for off-market real estate properties, the research analyzed a range of different variables, including population density (working on the assumption that increases are a measure of location desirability), neighborhood safety, school ratings and employment status, as well as loan to value rates.
Spokeo worked alongside Leadpipes AI to conduct the ranking, using its Sellability Score to collate the findings. This approach uses machine learning and artificial intelligence to assign every property in the country a number, which correlates with its propensity to sell in the next 90 days.
The research found that Atlanta, Georgia, had the best ranking of all the major cities analyzed for likelihood for the properties to sell. The capital city of the Peach State had one of the lowest loan to value averages of all the cities analyzed, and a particularly low crime ranking for its population.
Phoenix, the capital of Arizona, came second with a likelihood to sell an average of 574.75 out of 1000. With warmer than average temperatures and reasonable house prices (the average property costs are $685,995), it is no surprise that it is seen as an attractive choice for homeowners. Although Las Vegas isn’t known for its residential areas, 628,970 Americans call Sin City home, and with a higher than average likelihood to sell average (574.06), properties here could be a lucrative investment for property flippers or those looking to quickly sell their home.
The best major cities for off-market real estate properties, based on the likelihood to sell analysis, are:
1 The likelihood to sell mean average has been calculated using all the properties in each area within the Spokeo database – the closer the score to the top rating of 1,000, the higher the likelihood the property will sell within the next 90 days.
Best Undiscovered Cities For Off-Market Real Estate Properties
Although major cities always see a lot of property interest, especially from commuters who are often willing to settle off-market to secure a home in sought after areas, the research looked to uncover the best undiscovered cities for booming real estate. As well as looking at the likelihood to sell averages, the undiscovered cities rankings were weighted by the number of employed adults in the area, loan to value ratios, crime rankings and health care ratings, as well as Average House Prices.
Charlotte in North Carolina, home of the NASCAR Hall of Fame and the Carolina Panthers, topped the index for the best city to live. With reasonable housing costs and a relatively high crime ranking (of which 10 is the safest average), Charlotte also scored highly for school ratings – making it a popular choice for those with families. Although Charlotte topped the index for the best place to live, it is one of only two North Carolina cities to make the list, Raleigh being the only other location in the Tar Heel state.
The full list of best undiscovered cities for off-market real estate properties, based on the index, are:
This post first appeared on Spokeo People Search Blog | Famous People News Of The Day, please read the originial post: here
