Keeping up with real estate news and property listings is definitely the best way you can stay on top of the game. You’ll need up-to-date information so that you can gain new understandings on different aspects of the industry and then use that knowledge to make wise investments and ultimately make money. You’ll also need to know where properties are located and which ones have potential or not.
Real estate news is not a difficult body of information to acquire. You can get it just as easily as if you were picking up a newspaper at a nearby stand or even watching the evening news at home. It takes very little effort.
In fact, if you have a newspaper lying around, scan the real estate section and see what’s listed. If not, pick one up at the closest convenience store and while you’re at it, scour the surrounding stands and magazine racks for real estate publications. They can usually be found near the entrances or around newspaper racks.
If you’re reading this guide, then you probably have Internet access. The World Wide Web is perhaps the best way to gain updated information, property listings, and valuable tips associated with real estate. Check out Resources for a listing of web-sites we like. But if you want a more interactive approach, there are several online communities where you can sign up for newsletters and participate in forums and even Wikis that are entirely devoted to real estate. You can communicate with people all over the world and learn how things operate under a myriad of different contexts. Insider information such as this is extremely valuable, and you won’t find a lot of it anywhere else.
No matter how engrossed you may be in learning all things real estate, don’t get too wrapped up in the Internet and local papers. You’ll need to go real estate hunting!
Instead of taking the same route to work, the grocery store, or wherever else you frequent, try an alternate course. The idea is to drive through different areas that you normally do not visit. You’ll be able to get a fresh view of the surroundings and evaluate the scene according to your own interests, expertise, and possibilities. Or maybe you’ve heard good things about the area and just want to check it out yourself. But don’t stop there. When you’re done looking at this spot, take a relaxing, long drive through other surrounding areas that you know you never would have visited had you not made the initial trek. But be careful to monitor the distance and time you travel. You might find yourself a few hours away from home! And better yet: This type of exploratory trip is tax deductible.
Depending on where you live, it may seem as if construction and expansion are occurring all over the place. As the world population increases, and as different types of people displace each other, new buildings are inevitably going to be built to accommodate this ever changing and expanding population.
To get an idea of some hot spots, take a look at the list below. These are areas and circumstances that almost always cause growth of some sort, or at least a relatively high turnover rate of tenants.
• Universities – Often, universities or other academic institutions of the like increase their student bodies, which as a result necessitates more housing.
• Schools – New schools (e.g. grade, middle, high, etc.) not only generate more jobs but also housing for families. And in great volume!
• Stores, businesses, restaurants - When businesses introduce new stores into the area, such as Best Buy, Applebee’s, or Whole Foods, keep an eye out. This creates incentive for people to live near their favorite stores and restaurants.
• Malls and shopping centers – Just like above, entirely new shopping centers will inspire new residency.
• Public transportation – Improvements and additions to major roads/highways, bus systems, etc. will turn a once unaccommodating area into a more desirable locale. Think about it: people want as little hassle getting to and from their home.
• Parks – People always love a park.
• Local regulations and covenants that change.
After conducting your own research and scouting out different areas, you should contact local real estate agents or neighborhood councils to discuss your plans and ambitions.
Arrange meetings with real estate agents and council members you would like to speak to. Just ask them out to lunch, dinner, or a simple cup of coffee to discuss real estate. These face-to-face meetings allow you to ask questions that are tailored to your own interests. These people will gladly share their knowledge with you and will most likely point you in the right direction. Tips of the trade, warnings, and other kinds of information they can dispense is free, so take advantage of it. And don’t forget to take notes!
After these get-togethers, you’ll then have information from all types of different sources, all of which varies according to context—insider tips from the experts, articles about the real estate market, hot spots in and around town, and specific information that relates directly to your own pursuits.