All Real Estate Is Local
What You Need to Know to Profit in Real Estate - in a Buyer's and a Seller's Market
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- $6.99
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- $6.99
Publisher Description
Whatever the national trends are with regard to real estate – whether they are booming or busting–what really matters is what the market conditions are in your region, town, or neighborhood. For as David Lereah points out, in the end, all real estate is local.
What does that mean? Even during the real estate boom of 2001-2005, a great many cities and regions did not participate in the boom–they lagged behind, or even decreased in value. Similarly, when prices began to fall nationally, there were plenty of regions and locales where prices rose, and sales boomed. As Lereah makes clear, the most important factor in buying or selling a home isn’t what is going on nationally–it is what is going on in your local market. Evaluating present and future trends and influences in your region or neighborhood is essential to creating long term wealth, whether you are in a buyer’s or a seller’s market. And David Lereah, as the Chief Economist for the National Association of Realtors, shows you how to determine the conditions in your neighborhood. Lereah reveals how to:
Evaluate the DNA of homes in the town or county or region you are considering (every town has its own real estate DNA–the characteristics that make a region or city more or less desirable to live in).
Determine whether property values in your targeted neighborhood are on the rise.
Research future real estate influences and trends, from migration into or out of the region, to plans to attract or develop new businesses in the area.
Understand the local factors that can affect your investment in the future.
Countless books offer advice on how to buy and sell a home. But ALL REAL ESTATE IS LOCAL is the first book to explain how knowing the ins and outs of the local market you are targeting is essential to deciding when, where, and what to buy.
PUBLISHERS WEEKLY
As pointed out by Lereah, senior vice president and chief economist of the National Association of Realtors, over 80 percent of homeowners in America depend more on the value of their home for retirement than stocks and other savings. This guide to evaluating local real estate markets is meant to make smarter property buyer of both heavy investors and first-time house hunters. In textbook-ready prose, Lereah (Why the Real Estate Boom Will Not Bust) leavens the often stressful process of real estate procurement with common sense and clarity. Lereah introduces fresh concepts like market DNA "the set of attributes that determine a given market's future performance "which he uses to profile specific locales and explore the relative merits of such concerns as climate, resources, diversified economy, education, government, sports, medical services, transport, culture, safety and less obvious X factors (e.g., the power brokers of Washington, D.C.). Lereah's profusion of tables, indexes, ratings and rankings are practical, and his step-by-step guides to the purchasing process are well laid out. Along with the ins and outs of an intelligent buy, Lereah includes some 80 pages of statistics on a wide range of cities, making this a valuable reference.
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