Booming Areas of the Country - Posted by Scott Ames

Posted by Stewart on March 12, 2001 at 12:41:02:

3/12 8:45am local
Aloha from guess where??
Just purchased the Carlton Sheets program, for the 2nd time, last was about 10 years ago.
So, what DO you know now??
tks. Stewart

Booming Areas of the Country - Posted by Scott Ames

Posted by Scott Ames on March 12, 2001 at 09:21:13:

Where can one find information on areas of the country about to experience a real estate boom?

I have heard of one group that sells that information. They take people on bus tours of the target area and everyone looks for property. Once the boom hits they take their profits. They target areas of the country where business is moving in thus creating demand for real estate.

It is an interesting concept and if combined with ideas from Russ Whitney and Carleton Sheets one could really do well. The trick is to find the areas that are about to boom.

I’ve lost track of the company doing this. Any ideas? Let’s brainstorm.

Re: Booming Areas of the Country - Posted by Frank Chin

Posted by Frank Chin on March 12, 2001 at 10:49:49:

This has intrigued me for a while, particularly because I didn’t beleive a friend who told me about Somerset New Jersey some 15 years ago. I just heard on the news that Somerset NJ was the fastest growing county in New Jersey based on the recent census. Here’s what he saw back then:

1- He was pumping gas at his uncle’s station from age 17 to after college. In that period, the annual gallons pumped increased fourfold. Burger Kings, McDonalds, strip malls increased proportinately.

2- Office bulidings were going up like weeds. I myself was transferred from New York City to one of these sites.

3- Then traffic congestion and road widening followed.

4- Farmland purchased and turned into developments.

I’ve been hearing about the same phenomenon in the areas surrounding Boston, San Francsico, and New York City. If one can go to the map and draw a radius of one hours drive or commute from each one of these major job centers, I believe you would find potential boom areas, if it hasn’t already boomed.

The exception is if its an area of major crime. But I understand that municipalities now understand solving the crime problem can bring boomtimes to towm. I’m watching such an effort in Springfiled MA at present.

If I only knew then what I know now!!

Re: Booming Areas of the Country - Posted by Scott Ames

Posted by Scott Ames on March 12, 2001 at 15:54:21:

A similar thing happened in Utah a few years ago. Suddenly buyers were lining up to buy properties. I found my little house which I purchased for $56,000 (and I thought I paid too much) was worth $92,000. People were actually going door to door looking for an apartment to rent. Things were crazy.
The people who really cleaned up were those who had lots of units years before the boom. If they kept them and rented, the rents doubled thus providing a very nice cash flow. If they sold, they took a large profit.