Until the housing bubble started bursting back in 2007, there had never been a nationwide crash in house prices. Buying a house in most markets was simpler, because most went up in value over time.
But today more than ever, buyers need to heed the old expression: location, location, location. So how do you know you're buying in the right neighborhood. Well there are some simple tips that are going to help.
First, know what you want. If you're raising a family, check schools online. If you want hip and urban, there are online services like neighborhood scout to help you find what you want.
One simple tip that a neighborhood is on the upswing - look for trendy retailers, like Starbucks. Or upscale, locally-owned businesses.
Another good sign: people are fixing up their properties, and there's a lot of turnover. In other words, houses aren't sitting for sale on the market for very long.
Whatever neighborhood you consider, visit at different times. Weekdays, weekends, night, day. And talk to people other than your realtor. Ask residents what they like and dislike. Talk to business owners.
And don't ever forget the main thing that makes housing prices go up: the population is increasing and so are jobs. Bottom line... there's a reason for the expression, "location, location, location."
Pick the right neighborhood, and you'll be happy when it comes time to sell.
Now what you need is more information and it's waiting for you at moneytalksnews.com.
Just do a search for "real estate."
For Money Talks News, I'm Stacy Johnson.