Profile picture for GSOAT

Where are the new retail/commercial developments going to be?

I am about to put my house on the market and after selling it, I will be looking to move closer to the city.  I know that finding areas where development is happening (strip malls, restaurants, shops, etc.) is a good strategy for assuring that my property gains value after my purchase.  But how do I find information about where commercial and retail developments are planned in 2011/2012?

Thanks in advance!

Andy
  • September 01 2010 - Atlanta
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Answers (3)

Profile picture for ABBAUSA
All cities have what is a called a master planning
guide which shows potential future growth and new streets planned, etc.
This can give you an idea of where things are headed at some time in the future.

The quick rule is to follow what a major grocery chain is doing in your area.
In Texas, if you follow HEB, you will not go wrong. It is unbelievable how good their master planners are. You will see some of their stores or strip centers out in the middle of nowhere and then in a few short months to a year or so the area is built up around them. I wish our federal government ran as smooth as HEB.

Good Luck!

James Callas - Realtor
  • September 02 2010
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Profile picture for Sally English
Andy:
I am not in agreement with your strategy.  All development, residential, commercial, O&I, has ground to a halt in the present economy. 

In particular, retail is at a stand still.  So, new developments are not, in my opinion, where the values are in real estate in the present market.

Savvy buyers are looking at
1. Real Estate Owned (REO).  This is property banks have taken back through foreclosure.  Banks desparately want to sell these properties.  They are available for immediate occupancy and can close in 30 days ususally.
2. Short sales.   These are homes where the owners owe more than they can sell their home for in the present real estate market.  Banks have to agree to take less than the amount owed as full payment for the loan when a sale closes.  There are some great deals but many short sales take 6 months or more to close.  The banks move slow in giving approval to the short sales.
3. Desparate sellers.  Sellers who have been transfered, divorced, lost their job etc are selling at below market rates because they have to move.  These are motivated sellers who are willing to deal.  Closing are generally quick.

Good luck!
Sally English

  • September 02 2010
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Profile picture for spnagalla
I would need more information to help you. Please call me. Thanks.


Shyam Nagalla
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  • September 01 2010
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