Location – The Local Neighborhood

The term "local neighborhood" refers to an area wide enough to cover
your residential area plus nearby stores such as the "neighborhood
grocery store."

You want to be sure all essential shops and services are located
nearby. This would include grocery stores, gas stations, dry cleaners,
and convenience stores. There should also be fairly convenient access
to local highways, major traffic routes, and mass transit.

One thing you should look out for, though. If your local shopping
center is in decline, it could be an indicator that the local neighborhood
is in decline, too. Check to see if a lot of storefronts in your local
center are vacant or available for lease. If they are, you might want to
consider moving your purchase a few blocks.


copyright 2000 by Terry Light and RealEstate ABC