Signs of a soon-to-be-hot neighborhood Real estate investing is a hyperlocal business in which successful investors carve out niches in specific ZIP codes. Its critical, therefore, that theyre able to recognize hot emerging markets in the early stages and become the authority on those neighborhoods. Some indicators that an area is heating up include the arrival of trendy new businesses and the presence of at least one big economic development, such as a new light-rail station or a major new employer. Another sign of an impending pickup in real estate values in an area is the removal or improvement of a trait – such as high crime rates – that previously had put an undesirable stamp on the area. Hot neighborhoods also are often re-born out of urban communities that were formerly disenfranchised but are nonetheless blessed with highly convenient and desirable locations near jobs, public transit and commuter arteries. Other clues that should key real estate professionals in to a change for the better in a market include a slow but steady drop in the amount of time it takes for-sale properties to sell and a renovation frenzy by individual homeowners. Get the Insiders Edge on South Florida at ht.ly/yFVGa
Posted on: Fri, 25 Jul 2014 23:02:25 +0000
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