How Do I Assess My Market?
I am just beginning to get educated about REI and can't seem to find any speicifc steps on how I can best assess my local market to identify opportunities.
Any direction would be greatly appreciated.
Thanks.
The way you do that is you figure out if it is a buyer's market or a seller's market. In the buyer's maket properties usually sit for a while before being sold, in the seller's, they sell quickly, sometimes with multiple offer.
Read artilcles on the economy in the area. What is happening with the economy are there a lot of companies comming to the area, is there a lot of new development, malls opening, infrustructure, new roads, highways. All this would indicate future appreciation.
If the opposite is happening, you might be looking at prices depreciating.
Just start with that.