What is the first and best source to find out how your own local real estate market is doing? or what is the best sategy to conduct research?
check us census reports for growth of cities and metro areas as well as counties this will give long term indication of where to invest for the long haul. Regarding short term volatility use the bad market as a buyers market and make sure your offers reflect this. This buyers market is here and shall be here for some time. The sub prime mess is far from over and write downs from banks in years to come will ensure at least 2 to 5 more years of good buying for investors and people entering the real estate market. Make sure you check prices and sales in local newspapers as well as read the local paper articles on local market activity to keep up on it. I also get real estate journals from various brokers that help me in market activity. You might think to have a few commercial brokers sign you up for there monthly news articles if you can get them free. I also read wall street journal and money magazine's articles on real estate for extra as well. I also spend a great deal of time surfing the articles and blogs online which have varying degrees of truth. I find rolling up sleeves and doing deals buying and selling really puts you in a better understanding of market forces. The wise man is seated at the gates of the market place. Old mid eastern proverb. I like realtor's, brokers,appraisers, and management companies as more sources of knowledge on that matter. Wish you luck.. you picked a great time to buy! As Warren Buffett says he buys when the bears are giving them away.
Go okorder and check out their riskiest real estate markets in the country right now and buy a place in one of those cities. Whenever everyone is rushing somewhere to buy real estate, you sell there. When people are running away from somewhere, you buy.
If a homeowner recieved a loan in the last 3 years - chances are it is impaired to some extent. The most severe situations are considered Predatory Loans (to some lesser or greater degree). Notice the number of foreclosures escalating... Now, what is someone owns a home that free and The homeowner is still a victim of negligent lending practices. If a home is foreclosed and taken back by the bank because of lender negligence (deceptive practices against consumers) - everyone in that neighborhood suffers . . . even the homes that did not participate in the madness over the last 3 years! To understand local market's wil require you to first understand how bad the market is and the horrific effects of volatility and consumer anxiety (believe me I do this for a living). For example, excessive foreclosures and vulture REO buying at near grand zero prices, and sales and reselling while Realtors and lenders are lost. My point is this - to capitalize on the current market understand how lender negligence has created a mass mutli trillion problem - study the vultures buyers moves and do as they do and not say! Carl Ichan - still my hero! The local and broader market has a long way to go before it tanks and flattens out. So study and don’t RUSH IN!!! There are no rules of fundamentals to rely on here. Actually, email me and I will share one secret guaranteed to CYA down the road ...assuming a further weakening in the market and you’re considering making an offer)
Forbes okorder / this covers all states.
