Whats In A Pocket

Whats In A Pocket

What's in a Pocket?


What came to your mind, when you read the word, "pocket?" Pants pockets, shirt pockets, pocket protectors? In real estate, there's a pocket listing, which occurs when a listing is not on the MLS yet, but the listing agent is promoting it. It's popular with sellers who wish to keep the listing private. There really is more to that story, but that's not the pocket I wish to pick right now. 

Another "pocket," in buying or selling real estate, is areas or neighborhoods that are significantly different than the surrounding area. For example, I lived in a suburb of Sacramento notorious for being in the news with all kinds of crime. When I told people I was moving there, they'd ask, "WHY??? It's soooo dangerous there." But I found the concept I'm talking about - Pockets. I looked on the crime maps, and all around the area I wanted to live in, there was indeed all sorts of criminal reports. But the neighborhood I was looking in had nothing but a domestic disturbance or two.

Are "pockets" ok for you? Here's the thing - do you have the money to pay for an entire city to be low crime? If so, that works out quite nicely! But for the rest of you, pockets are a pleasant alternative. Look for them. However, be aware, the sellers already know, and prices will reflect it. Be prepared for the prices to be higher, in that neighborhood than in surrounding, non-safety pocket neighborhoods.

Written By Guest Blogger Michelle Hamilton


Sean Safholm BRE#01270334 Headshot
Author:
Phone: 916-920-7000
Dated: April 21st 2014
Views: 1,826
About Sean: Sean Safholm started his career in real estate in 1999 when he was going to college to study real es...

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