The one fact about real estate that never changes is that they don’t make any more of it. You can take a big piece and cut it into a bunch of small pieces to make it go further or you can take a piece and develop it to make it produce more, but you can’t make any more of it. Where it is located has a huge impact on its value.
The term “location-location-location” is commonly used by real estate professionals to describe the three most important factors when determining the desirability of a piece of real estate. Identical homes in different locations can have dramatic differences in value. Proximity to schools, transportation, health care, shopping, recreation, entertainment, jobs, views have a positive impact on the values of real estate. Negative impacts to real estate values can be caused by proximity to commercial/industrial areas, near railroads, freeways or under flight paths, crime ridden neighborhoods, economically depressed areas or close to hazards.
A real estate strategy that savvy investors have used successfully through the years is to invest in the “Path of Progress.” Key areas where cities or towns are expanding or are redeveloping with infill or renewal projects can offer outstanding profit potential. Addition of new infrastructure, roads, bridges, accessibility or convenience can add value to stagnant areas and new life to profit potential.
Vision, knowledge and timing are keys. To be able to see the where change is going to take place and the possibilities it offers, to know the details of what is going to happen and the time frame and to know when and where to act. If you are a developer, getting in when the values are low is a key factor in a successful project. If you are a business owner or investor, going to where the action is and will continue to be is good for long term growth, stability and resale value. If you are a home buyer, investing in the path of progress will increase your chances of making a solid real estate purchase because of the market demand that is created and maintained because of the location. Some people call this Luck, but as Roman Philosopher, Seneca said: “Luck is when Opportunity Meets Preparation.”
http://diamond-real-estate.com/wp-content/uploads/2015/10/Chuck-Platt-4.jpg16562484Chuck Platthttp://diamond-real-estate.com/wp-content/uploads/2016/03/logo2.pngChuck Platt2016-09-20 21:46:302016-09-22 20:49:43Investing In The Path Of Progress
COMMERCIAL REAL ESTATE
Representing both Seller & Buyer FOR Commercial, Residential & Lots/Land Real Estate in Yellowstone County
Diamond Real Estate
145 Grand Avenue, Suite 8
Billings MT 59101