Many parts of the country are experiencing massive relocation cycles. Companies and employees are migrating from more expensive, established metropolitan areas to outer-lying areas. Why? Because they can find good real estate buys.
So, what kind of market is our Lancaster & Hershey area experiencing...A buyer's market, seller's market, investor's market...? Here's some tips on finding the answer:
1. What what is happening in certain neighborhoods. Are new families and/or businesses moving in or moving out?
2. What is the policy of the local government? Is slow-growth popular, or perhaps no-growth; or, on the other hand, new development can be a major goal of the political machine of an area.
3. Always watch infrastructure. Where are the new roads going in? What is the 30 year transportation plan of the city or county?
Paying attention to the forces at play in your area will help you determine what kind of real estate market exists.
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