Market trends and real estate investing

You all know how important it is to check the background of any real estate investment such as:

Market value

Holding cost

Repair cost

Moreover, on of the most important issues in your real estate purchase is the title research of the subject investment but most investors fail to trend out the market area of the subject investment.

The real estate investing community generates some of the largest volume of news on a daily basis than any other form of investing or even news in general. Our community news rivals all other areas of news and because of this, we as investors need to filter the good from the bad.

The best way to deal with this is to simply study the market, verify the facts and then make your investment purchase.

Never take any ones word for what you should do when it comes to real estate investing until you have verified all the facts.

Our industry is one of the most lucrative sectors of business in the world and with it comes a lot of wolfs in sheep's clothing who are seeking out investors who are motivated by promises of high returns and who have limited industry knowledge. With this mix you will easily be parted from your money and have nothing to show but how you where taken advantage of.

You can avoid this by simply knowing the market area!

So how do you know your market area? Take the following steps and you will become a well-informed investors!

Step 1: Pick up some local real estate magazines from the market area and study what the asking prices are in the area of investment

Step 2: Search the online active MLS listings for the area of investing

Step 3: Read the real estate adds in the local newspaper

Step 4: Drive the neighborhoods where you would like to invest in

You will also find some great sites that will help you better understand the market area like:

Market Trends

http://www.househuntnews.com/MCR/

http://realtytimes.com/rtmcrtop/home.htm

http://www.fdic.go

http://www.firstgov.gov/Topics/Reference_Shelf/Data.shtml

http://houseandhome.msn.com/pickaplace/nf_Overview.aspx

http://www.bestplaces.net/default.aspx

http://quickfacts.census.gov/qfd/index.html

http://www.lib.berkeley.edu/ENVI/plandata.html

http://www.census.gov/cgi-bin/gazetteer

Free Data Down Loads

National Summary

http://www.localmarketmonitor.com/NationalSummary.pdf

Annual Home Prices for 330 markets, based on OFHEO repeat home sales index.

http://www.localmarketmonitor.com/Home%20Prices.xls
Home Value Ratings for 100 markets.

http://www.localmarketmonitor.com/HomeValueRating.xls
Risk Return Ratings for 100 markets.

http://www.localmarketmonitor.com/RiskReturnRatings.xls

United States Housing

http://factfinder.census.gov/servlet/SAFFHousing?_sse=on

http://www.census.gov/hhes/www/housing.html

http://www.zip-codes.com/

Home sales

http://ditech.com/calculators/appraisal/form.do

Home Prices Where You Live

http://www.kiplinger.com/personalfinance/tools/houseprices/index.php

Low cost data:

Home Sales by ZIP Code

https://www.melissadata.com/ssl/homesales.asp

"You're never a loser until you quit trying."
By Mike Ditka, Football Player, Coach
 
John Michael - "King of Bling"
Investor/Teacher/Mentor/Author
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