If A Starbucks Opens In A New Neighborhood, It's Time To Buy A Home There

Posted by The Cascade Team Real Estate on Monday, November 19th, 2012 at 9:13am

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Starbucks Coffee Logo

Meredith Galante

"Wake up and smell the coffee," writes Michael Corbett, Trulia's real estate  expert and and host of NBC's "Extra's Mansions & Millionaires!" in his book Before you Buy! The  Homebuyer's Handbook for Today's Market.

He's talking about big chains such as Starbucks  and Whole Foods. If you see them opening in a new neighborhood, it's a sign  that the neighborhood is up-and-coming, and therefore a smart real estate  bet.

In his book he writes:

One of the best ways to stretch your buying  dollar is to find a neighborhood that is in transition. Called fringe or  transitional neighborhoods, they are typically close to major metropolitan areas  and were once neglected and less desirable. Is there a trendy restaurant where a  tattoo parlor used to be? These neighborhoods are now beginning to enjoy a new  life and your goal is the find them.

Has a Starbucks just opened on the corner or  maybe a Whole  Foods Market? These are all good signs that a neighborhood is on the  upswing. You can bet that big chains like Starbucks spend a lot of money and  time analyzing neighborhood potential before they open up a new store. So go  ahead, tap into their market research and be their neighbor.

R

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