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SOURCE: Buyer's Edge
AFIRE’s Annual Foreign Investment Survey ranked Washington DC in the top U.S. cities for real estate investment. According to Buyer’s Edge President, Steve Israel, some of the compelling reasons why Washington DC is a good investment for real estate investors include a highly educated and constant workforce, a high level of income per capita, and the cosmopolitan nature of the area.
Bethesda, MD (PRWEB) January 22, 2013
Washington DC was named one of the top global cities for foreign investment according to a recent survey released by the Association of Foreign Investors In Real Estate (AFIRE). The 21st Annual Foreign Investment Survey ranked Washington DC number four behind New York, London and San Francisco. “Washington DC real estate continues to provide some of the most stable and secure real estate investment opportunities,” said Steve Israel, President of Buyer’s Edge, an Exclusive Buyer Brokerage firm serving the Metropolitan Washington area.
“Washington is a city that is economically strong and has an abundance of prime real estate,” said Israel. “Compared to housing markets in America’s big cities, the D.C. area appears to be having the strongest and steadiest recovery. Even during the worst of the national housing slump, the District continued to attract foreign and U.S. real estate buyers. The region has one of the highest levels of education and income per capita in the U.S. With the Federal Government and all its contractors located in the area, the workforce is constant, and job growth is projected to be substantial over the next several decades.”
For foreign investors, the cosmopolitan nature of the area is particularly inviting said Israel. “Representatives from different countries and working in different fields live in the area, providing a solid group of renters for housing and commercial spaces. In contrast to top-ranked New York City, whose market is exclusively very expensive high-rise apartments and townhomes, the Washington DC, Maryland and Northern Virginia area offer a wide array of housing types and investment levels. “In DC,” explained Israel, “An investor can find inexpensive or very high-end condo options in downtown locations, semi-detached or attached row houses, retail and office options of all kinds and even fabulous single family detached homes across a wide price range.”
Israel recommends that anyone considering buying a home retain an Exclusive Buyer Broker who will only represent the buyer, not the seller of the property. Israel pioneered the concept of buyer representation when he owned his own construction business. “A number of people I knew were asking me for help when they were looking for houses,” he recalled. “I realized, at that time, there wasn’t anybody doing buyer representation. Everyone in the business was representing sellers.” Today, Buyer’s Edge has 13 agents working in the DC Metro area. The company does not list homes for sale, so there is no conflict of interest. “All our efforts are directed to finding the best houses, at the lowest price, on the best terms for the buyer” said Israel.
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