Yahoo Finance Which Cities Is Barbara Corcoran Investing In? The Answer May Surprise You
With a constantly evolving real estate market, cities that are affordable today may not be in a few years. If you want to invest in property, it's best to buy when prices are still low.
Real estate mogul and "Shark Tank" investor Barbara Corcoran follows this advice by investing in cities she believes are poised for growth. Corcoran told GOBankingRates she's betting on Pittsburgh, Indianapolis and Columbus, Ohio.
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"They have a young, educated population with lots of job growth and big companies in the area," Corcoran said.
Take a closer look at the cities Corcoran is focused on.
Pittsburgh
According to Zillow, Pittsburgh’s average home value is up 6.2% to $227,329 over last year. While it's known for its robust steel industry, Pittsburgh is also a center for advanced manufacturing, climate tech, and distribution & logistics.
It boasts 88 colleges and universities, and 33% of its workforce has at least a four-year degree.
Columbus
Zillow found that the average home value in Columbus increased 6.9% to $243,838 over the past year and sales are brisk, with the average home listed for sale shifting to pending in about five days.
The city's strong business community includes brands like ScottsMiracle-Gro, Express, JPMorgan Chase, Nationwide and Abercrombie & Fitch.
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Indianapolis
According to Zillow, the average home value in Indianapolis rose 2.3% to $224,099 over the past year. The city's diverse economy is based on a strong foundation in the education, health care and finance industries.
Sports tourism is another major player, with Indianapolis hosting many conventions and sporting events, including the Indianapolis 500.
Last month, GOBankingRates reported that Corcoran said that people who don't plan to raise children should buy anywhere in a poor school district where prices are really low.
"Go anywhere in the South, other than the hot spots," Corcoran said on the Elvis Duran Show. "There's always a cheap house to buy."
She also reemphasized her belief that there is never a time that it's not smart to buy a house.
"It's always a good time [to buy]," she said. "I think the sooner you get in the market, the sooner you have a chip in the game."
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