ach neighborhood is information is the first step.
affected differently by a “Understanding and being able to
building project, so present those potential impacts
knowing the issues surrounding is part two of the role a
potential building projects is an ‘Neighborhood Expert’ plays in
important part of being a true the home buying and selling
real estate professional. process,” he says.
During the last century A new prison is to be built; in
homeownership has grown from 46% some areas this would have a
in 1900 to 68% in 2007. Along negative impact on property
with this growth in homeownership values, such as a suburban
comes the inevitable potential community of a large metropolitan
change of value resulting from an area. This negative impact is
outside force such as a building due to the stigma of having the
project. These projects range incarcerated next to
from roads to prisons to schools neighborhoods of families and the
to airports but not every project potential for a prison break.
has a positive impact on building The same prison being built in a
values in the area. Some that, rural area would bring jobs to
on the surface, would seem to the area may actually have the
have a positive impact can opposite affect on property
actually produce the opposite values.
affect.
The first step is the simplest
According to Allen Wright, and involves a little research to
co-author of the new cutting-edge find the local source for
Certified Neighborhood Specialist potential building projects.
(CNS) course, knowing where to Most city-planning departments
find future building project have future building projects
posted on their website. If not, noise. However, if the area home
make it a point to research how prices are based on proximity to
you can be notified of projects the airport, the perceived
that come about. increase in value because of less
noise would be incorrect.
The second step involves finding
third-party data on the pros and Real estate agents who wish to be
cons of the building project. It known as “Neighborhood Experts”
is not the responsibility of the should therefore know to research
real estate professional to future building projects and
render an opinion, but rather to identify those projects that may
present the facts. For example, have on the property values
a statement that might be affecting the areas in which they
construed incorrectly would be specialize.
that of an airport closure that
would relieve the area of airport
About the Author:
Learn how become a Neighborhood Expert or visit the Certified Neighborhood Specialist Council's website. Endorsed by RealtyU.
Read more articles by:
Zarita Senekal
Article Source: www.iSnare.com 
