Appreciating property prices, driven by a good local school system, makes Gladwyne, a suburb of Philadelphia in Pennsylvania, a great place for wise investors to buy a home.
Through findings from HomeUnion, CBS News ranked the nine ZIP codes with the highest real estate returns. The list in a mix of “hot" real estate markets where prices are skyrocketing right now, and places that are poised to improve within the next few years.
Gladwyne, which already has a median home value of $916,300, ranked second, in front of West Bloomfield Township, Mich., and behind Hamptons at Boca Raton, Fla.
The communities share one trait: They are where the upper-middle-class tend to live. The home values in the zip codes are generally higher than in their greater metropolitan areas, which means not every investor or homebuyer will be able to snap up property within their borders. … "Buying the worst house in the block in a very nice neighborhood will always be beneficial to the homeowner," said Steve Hovland, director of research for HomeUnion.