I have done that already, and in short I came to following high level findings.Positive impact on appreciation: -area was historically undesirable due to association with “East Austin” demographic stereotype, but that his changed rapidly in last 10 years due to proximity to downtown, universities, corporations moving in, redevelopment of parks/recreations etc.

Like others have said above the area is growing rapidly!

(As what happens frequently thanks to the rapid changes in technology) bottom line the industry was no longer fulfilling me and I had no desire to rekindle that flame.

Would love to hear any opinions on either of these markets as I'm currently researching what it would be like to purchase in Austin vs Iowa City/Cedar Rapids area.

Edmonton Alberta CanadaI am very new to real estate and am currently renting a property through a property management  company .After doing some market research I have discovered the neighborhood I reside is rising in value quite rapidly (riverside location beautiful parks and recreational area's )Now my question to everyone (pardon my ignorance)If I wanted to approach the house owner regarding a Lease option would I try to get his information from the property management company or would I contact the property management company about wanting to lease option.I feel as though it would conflict against the property management company seeing as how they make money from me renting .Any advice would be appreciated immensely !

Hi Bowman, it seems to me that your biggest disadvantage will come from the lack of knowledge about what is feasible in the market you are in, because I think that should largely affect what your acquisition strategy is.For example you may want to buy something that cashflows but if you are in a rapidly appreciating market like we are in right now in the Twin Cities, you will have a hard time finding something to get excited about and will need to target different asset types or adjust to find another way to get your money to work for you.In this market your advantages aren't particularly helpful as there is so much money chasing deals, that the ability to qualify for financing doesn't really set you apart.  

Detroit, Metro Detroit, Grand Rapids the U.P. etc...

And if that is true, in markets where rents and home price appreciation has diverged significantly (i.e. flat to down rents with rapidly rising home prices, or vice versa), can any conclusions be drawn about those markets that might help guide decisions to invest (or not) in those markets?

I am a recent engineering graduate who moved to Cedar Rapids, IA.

A couple of questions come to mind:4BR, 2BA Brick ranch property sits on more than 1/2 acre in growing city with strong economy and rapid home appreciation last 4 years, 1960s construction with original everything, lead paint included free of charge!