Location, location, location – How to research online!
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Everybody knows that location is one of the most important things about buying property in USA and anywhere else. However if you are foreigner and not even located in USA, how to find the best location for your investment? I was trying many tools for online research and I will share today with you the best available. What is great as well, this tool is completely free. This market research tool is called Trulia (www.trulia.com). Go to the trulia website and click on the “Stats and Trends” menu item at the top. We aren’t today interested much in the actual real estate listings, we want to find more about some particular locations. In the “Search trends in” field type the location you would like to research. It can be whole city, or just some quarter, however it’s possible to view statistics of home prices for the whole state as well. So for example if you will type in Miami, you should get to this page: http://www.trulia.com/real_estate/Miami-Florida/ . Now the best thing about this website is that it gives you all information you could imagine. You can see the median prices “heat map” – you can zoom in or out in it, you can see information about the schools or crime and market trends in the area. This way you can find out if a REO or foreclosure, which you found on Bank of America REO’s or another website is really as good deal as it looks. Simply by checking out the local market trends and house prices. However this is just the first part of the research. Next time I will show you how to find out what can be the expected rent rates for particular property and more details about renting. That’s how you will make the return on your investment and therefore it’s crucial as well. If you need any info, write me in the comments area.
Monday, March 2nd, 2009 at 12:00 am and is filed under buying property in usa, General Education. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.