The real estate developer must have an idea, usually based on experience in the market place, or intuition, abou t a residential real estate development that he/she believes the market demand for exceeds market supply. For example, if the population and number of households in a local market are growing, and the developer believes that he has an idea for a residential subdivision with innovative amenities and attractions, and if the developer has a strong desire for creating that type of development, then the developer should pursue the creation of that development. The two key factors about having an idea for a real estate development are: (1) strong market demand for that type of development or a market niche, and (2) a strong emotional and financial commitment by the developer to create that type of residential development.
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