Aldy Way

Many years ago people would seek to buy a house that was in place they wanted to live for a long time.

They were looking for a place that is content home buyer would like great schools, cute houses, restaurants and shopping nearby and a lot of other things that are the home and neighborhood is desirable.

It's so old real estate term ... You know the one ... "Location, location, location ".

This is one aspect of real estate that is most neglected in the house flipping craze.

picking up cheap foreclosure in a poor neighborhood is very different than buying a house in a great neighborhood that needs work.

Buying in the wrong neighborhood can be a problem. This may be an issue of personal happiness point of view, as well as investments in real estate standpoint. If you live in the wrong place for your lifestyle, work, and loved the place it matters. And to the question too, that people who might buy your property ... or not.

to keep a fourth of its value, even in bad real estate market.

Other neighborhoods, especially in distant suburbs around the cities will do much less than in nearby, established neighborhood with great schools and a short lead. And at a time when gasoline prices are not expected to go down, the surrounding suburbs will be harder to sell in the coming years.

Many of the houses overlooking the distant suburbs of the newer houses are struggling as they try to resale. Maybe they lose their job or just get a pass, but the resale takes way too long. And sometimes resale never occurs and a second home goes into foreclosure. It is all too often happened recently, depressed economy and brings a new reality for us all.

But in a neighborhood close to many towns are not much better.

As an example, we know a couple who bought a 1940-vintage house them near Piedmont Park in Atlanta shortly after college in the early 1970s. It is close to downtown and shopping and is a desirable place to live now that they are considering retirement. They will be eager to find a pool of customers, if they decide to sell.

know the younger couple bought a 1920 vintage style Queen Anne house in the same area recently. Although the house was not in perfect condition were able to resell quickly when they are transferred to Europe.

neighborhood has a good resale and now it's a good resale 40 years ago.

So when you buy it right. Buy the right kind of neighborhood. On May require greater financial investments, remodeling and more cautious and knowledgeable shopping. However, additional work could serve better than buying the wrong type of property in this less certain market.