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“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 neighbourhood, it’s a sign that the neighbourhood is up-and-coming, and therefore a smart real estate bet.
One of the best ways to stretch your buying dollar is to find a neighbourhood 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 neighbourhood is on the upswing. You can bet that big chains like Starbucks spend a lot of money and time analysing neighbourhood potential before they open up a new store. So go ahead, tap into their market research and be their neighbour.
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