Main Principle of Value in Real Estate
maria gudelis | July 17, 2008One of the basic “Real Estate 101″ things to know is supply and demand cycles. This is taught and mostly forgotten in realtors’ pre-licensing courses: The Principles of Value. If anyone can really understand the main principle of value in real estate: YOU must know SUPPLY AND DEMAND, then you will make money.
Some experts say that 98% of real estate agents don’t understand or grasp basic supply and demand cycles. The 2% that do will be all stars in their field. In addition, as a real estate investor, you will then know what type of real estate investing to do based on supply and demand in your area. Click more to read on…
Let’s look at Las Vegas as an example, did you know that by 2012 to 2014, about 500,000 people will be moving into Las Vegas? Why, simple – employment coming into Las Vegas due to the 6 main casinos being built and the completion date. It is simple math to then calculate based on the number of employees required, the primary employment and the secondary employment figures.
What are the six casinos that will make Las Vegas enter a demand cycle by 2012?
Stay tuned for my next blog entry for that answer!
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