Signs of New Development

Posted: July 18, 2015 in Real Estate
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One of the keys to consistently making money off of real estate is having a thorough knowledge of the local real estate market. By knowing the area and its history, and by knowing what developments are underway and being planned for the future, successful real estate professionals are able to keep a step ahead of everyone else.

But none of it happens by accident. Succeeding in real estate means having to do a lot of homework. There are a handful of tricks that they use to stay up on new and emerging trends in the business, instead of chasing after them. And keeping a step ahead over everyone else is what it’s all about.

One of the most important things to keep an eye on are the current price trends in an area. An investor should track home prices in an area to see whether they are accelerating any faster in one part of town than they are in others. They also compare the average prices of properties against those in neighboring towns and cities to get an idea of where the biggest demand is, and to get an idea of what the going rates are for certain properties.

And they know what to look for. One of the sure signs that an area is on the cusp of new growth is the development of new infrastructure. New roads and schools going up is a sure sign that a community is about to see new growth. This could be an ideal time to invest; growing communities can be very profitable. Spotting these signs is as easy as looking out your car window and observing land clearing, surveyors at work, and the beginnings of road construction, like the widening of traffic lanes or new traffic lights going up.

Michael Yanko is a real estate developer who has been in the field for seventeen years.

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