?Wake up and smell the coffee,? writes Michael Corbett, Trulia?s real estate expert and and host of NBC?s ?Extra?s Mansions & Millionaires!? in his book, ?Before you Buy! The Homebuyer?s Handbook for Today?s Market?.
He?s talking about big chains such as Starbucks and Whole Foods. If you see them opening in a new neighborhood, it?s a sign that the neighborhood is up-and-coming, and therefore a smart real estate bet.
In his book he writes:
?One of the best ways to stretch your buying dollar is to find a neighborhood that is in transition. Called fringe or transitional neighborhoods, they are typically close to major metropolitan areas and were once neglected and less desirable. Is there a trendy restaurant where a tattoo parlor used to be? These neighborhoods are now beginning to enjoy a new life and your goal is the find them.?
Has a Starbucks just opened on the corner or maybe a Whole Foods Market? These are all good signs that a neighborhood is on the upswing. You can bet that big chains like Starbucks spend a lot of money and time analyzing neighborhood potential before they open up a new store. So go ahead, tap into their market research and be their neighbor.
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