As to values of homes increasing in other areas surrounding Orange County but not in Orange County I will remain skeptical. Quite honestly, with the exception of Manhattan, I don't see that they are.
To address Middletown in particular as a viable investment option now or in the near future I say letâ€™s look at the numbers. In the City of Middletown in the past six months there have been 78 properties either sold or under contract to be sold. (41 under contract, 37 sold). 22 of these properties are under $100,000.
If you look back 3 cycles of 6 months each you will see in sold activity alone 49 units, 43 units and 51 units. That's an average of 46.5 closed transactions in each of the past 4 six month periods. Or 7.7 each month or 1.8 a week.
I think if these transaction numbers would compare to activity in other areas, Middletown would look strong.
So I guess the question would be... What are your thoughts on a real estate investments? Is it to live in yourself or to rent out? What type of return on your investment would be needed for it to be a good investment for you? (Not always about what you pay, but how much you make and how long you hold on to it, etc.)
Depending on your answer will depend on whether or not this is a good time for you to invest in real estate in Middletown. It seems 1.8 other people each week are thinking YES!