Tom Tollen | Keep in Mind of These Things Before Buying a Property

Tom Tollen is a freak famous real estate agent who explains that those who continually make money in real estate know the marketplace. They know the locations and the record. They know what new improvements are organized. They know the transport and the educational institutions. They know almost everything about the place where they invest. They have to know it all.

Keeping yourself ahead of the competitors in real estate investment means carrying out your homework. If you are new to the organization, it can be challenging, but in this post, we will instruct you five techniques that the old pros use to get forward of the trends instead of chasing them.

Study Local Rates

By Tom Tollen the first things to study are the current value trends in the location. For example, a prospective investor should look to see if the value of homes is increasing faster in one area than in others. Next, check to see if the average home value is more than in other nearby towns. This will offer an idea of where the greatest demand is. Another purpose to study these trends is that, over time, you'll begin to develop a sense for which rates are "fair" for certain houses and which are overheated. For persons looking to buy houses at the lowest cost possible, this information can be invaluable.


Realtors and real estate broker are a fantastic source for this details, given their access to the Many Listing Service. The local paper, the internet, and the city hall may have a history of recent sale prices as well.

Get Pre-Approved for a Home Loan

There is a host of advantages you can enjoy by obtaining pre-approved for a home loan. Primary among them are financial benefits. For example, most lenders will lock in an interesting price for you once you are pre-approved for a home loan. This can be a help if interest rates begin to rise while you are house-hunting. Further, if you're capable to be pre-approved for a mortgage prior to getting your dream home, then you become a recommended buyer in the eyes of the retailer: You have demonstrated you have critical financial backing.

Look for a Catalyst

One signal that an area is up-and-coming and that it will be suitable for the future is the growth of new facilities. When you see highways and schools being created, it's a signal that the group is set for a growth spurt, and investing in an increasing community can be very money-making. In inclusion, certain types of growth, like new shopping centers, may be incredibly attractive to home buyers, and may also help keep the tax base small.

Spotting new improvements can be as simple as looking out your car window as you drive by. Revealing signs of land clearing, evaluating or the beginnings of development in and around significant roadways are fairly big tip-offs. Also, look for the expanding of traffic lanes, the set up of turnaround lanes and the erection of new traffic lighting. All recommend the possibility of growth, to accommodate more activity.

Next, check out the town hall at the municipality or the county stage, and speak with the roads and the making departments. They should be aware of any major projects planned to begin in the area, and they may even be able to provide you with a connection at the state level so you can find out if any state-owned highways or properties are scheduled for development as well. Real estate brokers also have a common idea of what new assignments are about to be set up.

According to Tom Tollen also, you will want to watch to see if a re-evaluation is set to take location in the near future, as it may mean that residence taxes are about to go up. Beware of cities and communities that are becoming congested; signs include schools filled to capability and perpetually gridlocked roadways. This could mean the town will have to do some major development to provide the influx of people. And how do they pay for that development? Tax dollars.

Check Out The Institution Rankings

Nearly every state rankings its institutions by how well college students in each district fare on tests in mathematical and English. Sharp-eyed shareholders should look for educational institutions that are moving up or are in the listing. These areas are often suitable for parents. Access to excellent education is a big selling point for home buyers.

Read More

Outstanding Real Estate Professional

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License