There are several options for property investors in Randolph County NC to choose from. Raw land, multi-family rental dwellings, apartments, duplexes, and single-family homes for sale in Randolph County NC – all of these provide investment opportunities for local investors.
An investor usually makes a decision on what type of property to purchase by studying the rewards versus the risks of buying a certain type of property for sale in Randolph County NC.
The biggest risk facing investors is foreclosure, so most investors study the history of distressed properties. Whether it’s Randolph County NC foreclosure statistics or nationwide trends, these data provide a projection of the likelihood of foreclosure in the particular area.
Investors interested in buying real estate should give due diligence to studying Fannie Mae’s recent study regarding the relationship of an investment’s property’s relative location to the rate of potential foreclosure. Though the data on this nationwide study is concentrated on cities with big populations, it is still relevant to determining the likelihood of foreclosure in Randolph County NC homes. Take note that it is not just the property’s location, but its relative location that is given emphasis in this study.
- Proximity to the workplace. A property near to the workplace matters. Every extra minute of commute time increases the risk of foreclosure by 3.7%, meaning every 5 minutes of additional commute time raises the likelihood of default 18% higher!
- Public transportation. The study found that if 30% or more of the neighborhood’s population commuted by train, the risk of a Randolph County NC default would be lowered by 58.4%.
- Affordability. If Randolph County NC homes for sale fit Fannie Mae’s definition of affordable housing, the risk for default is decreased by a staggering 61.9%
- Mixed-used areas. When there are 16 or more retail outlets near the neighborhood, the risk of foreclosure is reduced by more than ⅓.
- Parks. If the Randolph County home for sale is located within one mile of parks or protected green areas, the risk of default is lowered by 32.5%
All real estate investors should be aware of possible future Randolph County NC foreclosure and avoid investing in properties with higher risk of default.
For more current information on the Randolph County NC market, contact me now.