Location, Location, Location
Lesson time 09:33 min
What makes a great location? Robert explains what to look for in making a smart real estate investment: job growth, culture, public transport, and a diverse community.
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Topics include: Follow the Artists · Consider What the Home Is Like Throughout the Day · Prioritize Quality of Life · Getting Around, Being Close · Find Your Community
Teaches Buying and Selling Real Estate
Robert Reffkin, the founder and CEO of Compass, helps you get closer to finding your dream home by simplifying and demystifying real estate.Sign Up
[MUSIC PLAYING] - So if you're looking to move, and you just have a-- it's a blank canvas-- you don't know what city or where you want to move, yeah, I would really urge you to think where are jobs growing and where are they declining. The trajectory of jobs is one of the most important decisions around home value, because in areas where jobs are growing, value tends to increase. In areas where jobs are decreasing, the prices are likely going to go down, because it means less jobs, less people, which means less demand for homes. The less demand for homes will lower the price of homes over time. If you're going to buy, you want to buy in an area where prices of homes will increase in value over time. With that context, if you are in an area where you feel like a lot of new companies keep on coming in and there's a lot of job growth, it can give you more confidence on the financial decision. You can go online and just look at you know, where are jobs increasing and where are the new jobs? Many of them are being driven by technology right now, as technology is transforming every major sector in our lives. So Seattle, a lot of new jobs. San Francisco Bay Area, a lot of new jobs. Boulder, Austin, Nashville, Denver, and Washington D.C. Think about those markets with jobs. That will not only give you again, the job flexibility, but it will also create the backdrop for price appreciation for your home. [MUSIC PLAYING] You know, there's a saying in real estate, wherever the artists go, the-- you know, everyone else follows. And so that was in New York with Soho, and then people followed. Then it was Brooklyn, people followed. It's Nashville, it's Denver, it's Austin. So you know, people tend to follow the artists. And where people flow, prices flow. [MUSIC PLAYING] Austin has often been rated the number one city to live. And there are three reasons why. There's the arts, job opportunities, and quality of life. When it comes to the arts, there's so much music. There's more live music in that city than any other city in the world. And it's not just the musicians. It's all-- all types of art. And then secondly, you have jobs. You have a lot of the big technology companies, whether it's Google or Amazon with offices-- they are major presences-- but also a lot of startups. You know, they call it the Silicon Hills. The third aspect of Austin that's very special is quality of life. Just beautiful lakes, beautiful forests, tree. Like, there's places where you can go on beautiful hikes and parks. It's just a beautiful area. I mean, so the arts, job growth, quality of life. [MUSIC PLAYING] You have to consider more than just that actual home and what it looks like at a moment in time. You have to consider what will it look like at any time that you're going to be in or around the home. What's it going to look like on the weekends? Your neighborhoods are different on the weekends than during the week. What...
About the Instructor
As the CEO and founder of Compass, Robert Reffkin has used modern technology to revolutionize the real estate industry in the U.S. Now he’s demystifying the ins and outs of the American home-buying process and sharing tools that will help you buy or sell a home with confidence. Learn how to approach your search, choose an agent, make an offer, and more. Your future home is waiting—let Robert help you find it.
Featured Masterclass Instructor
Robert Reffkin, the founder and CEO of Compass, helps you get closer to finding your dream home by simplifying and demystifying real estate.Explore the Class