I want to buy an investment home either in Illinois or Michigan. I am looking for a good location that has good appreciation and reasonable property tax.
2007-06-23 03:48:43 · 6 answers · asked by from_chicago_with_love 2 in Business & Finance ➔ Renting & Real Estate
Friend,
The first link may give you more info than you are looking for, but I included it any way. Don't be concerned about the intended audience. It has useful info for others as well.
Appreciation, in my opinion, involves several if not many factors that can change with local / regional circumstances. Economical, logistical, legal, social, international, industrial, meteorlogical and agricultural reasons to name a few. New Orleans and its surrounding region provides a good case in point.
The second link may proof useful in knowing what questions you may need to ask when you hook up with a living realtor with the expertise you are seeking.
Also, talk to your tax professionals. They frequently have good answers to various questions covering differing subject areas.
Any answers you obtain via this method (Yahoo)may prove to be pure conjecture, and need to be evaluated by professionals.
I hope I gave you some good food for thought.
2007-06-28 17:02:58 · answer #1 · answered by healthsys2 3 · 0⤊ 0⤋
Cold call some businesses and residents in the area and make small talk let people who live in the area you can tell them your with some business and your doing a survey LOL make up something, they know the bad neighborhoods as well as the good ones. Also call the local goverment agenices ie the property tax office talk to some one in there. A lot of police officers are home owners in there community and they know alot about there areas as well so you can call them im sure they will be happy to chat with you for a little while.After you get an idea of so good neigborhoods look them up on line to get demographics, avg wages, ages all that stuff. it should be on the cities website. you can ask a real estate agent but the only down side to that is they have a incentive to make everything seem great, remember they are in the business of sales, so dont put all your money on what they say.
2007-06-23 05:19:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I don't think you're going to find a website which will calculate appreciation values or predict future appreciations. You will have to do some serious digging to discover the information you desire. I recommend contacting real estate agents in the various locations in which you are considering purchasing.
2007-06-23 03:52:16 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
You need to find a Realtor in those areas are are experienced in investment properties.
2007-06-23 03:53:38 · answer #4 · answered by Alterfemego 7 · 0⤊ 0⤋
For general knowlege of a community as to the asking prices, sites such as http://www.Realtor.com http://www.Homes.com http://www.Trulia.com will give great insight to a community.
Sites such as http://www.zillow.com may even give some sales data or estimates as to the market value. With Zillow it can be +-.
As others have stated, nothing beats a good experienced local agent.
2007-06-23 04:57:19 · answer #5 · answered by Jimmy 5 · 0⤊ 0⤋
WEICHERT.COM
2007-06-23 03:50:53 · answer #6 · answered by jeff c 2 · 0⤊ 0⤋