Forcasting a Great Neigborhood to Buy

I have become a huge fan of Barbara Corcoran over the past several months. I love her vibe and advise. I have seen her speak in a number of places from the Today Show on Home Staging and a Millionaire maker show with The Rich Dad Author Robert Kiyosaki, Loral  Langemeier, David Bach and more.  Anyway, she has a terrific methodology to find great up and coming neighborhoods for investment.

I first saw it on the "Millionaire" show and she just posted her process at her Barbara Corcoran blog. Check it out for yourself, but let me give you a couple of her clues that an area is up and coming:

1. If a little old lady is sitting on a bus bench at night, it is safe.
2. Is there nightlife? Are people out freely shopping?
3. Are there any new cars?
4. What are the SAT scores?
5. Buy the lower end house, it has the most room to go up.
6. Are rents going up?

She says the time to buy is now if it is in the right area.

Her top up and coming areas? Go to her site to get reasons why:

• Austin, Texas
• West Midtown, Atlanta, Georgia
• Biddleville, Charlotte, N.C.
• Seward Park Seattle, WA
• Reading, PA
• Farmington, NM

Her Videos:

With Trulia:

More:

• YouTube
• Millionaire Inside

Comments

[Dave]

I enjoyed your information about "Forcasting a Great Neighborhood to Buy"

[James Sanson]

I feel a great area to buy is anywhere if you calculate the current value correctly. You always win on the buy and not the sale.

Say we are in normal market where it takes about 120 days to sale a home. This area has appreciated historically 2% less than the other great buyers that you are told about, and you want a 10 year play.

Then simple compund the 2% per year for 10 years, and then make an offer of current market value minus this number.

[Kenny Alex]

Great post, "I feel a great area to buy is anywhere if you calculate the current value correctly. You always win on the buy and not the sale.", I total agrees. I found the same great articles here http://realsblog.com/2007/in-recent-years-there-has-not-been-a-better-time-to-buy-a-home-so-what-are-people-waiting-for/

[Jason]

A good neighborhood will always be a great place to invest in some prime real estate. Even investing in a foreclosure can turn out to be a good idea if the surrounding area has got some good vibes. It’s best to investigate though.