Author Topic: Assessing local market  (Read 1214 times)

MrNiceGuy

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Assessing local market
« on: March 31, 2014, 01:18:39 AM »
Really straightforward question, how do you assess your local real estate/rental market? 

GoldenStache

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Re: Assessing local market
« Reply #1 on: March 31, 2014, 06:47:26 AM »
Craigslist...

You can get a really good idea about what things are going for.  When I was first starting I made a spreadsheet and tracked asking prices, I contacted a few and offered less to see if they would be willing to take it.  After a month or two you will see the ads that are still listed asking too much.  Compare the pictures and if they do not have pictures ask for them.  In the DC area, we get flooded with interns looking for places just for the summer so a much higher demand but don't assume you will be able to get that price the entire year. 

arebelspy

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Re: Assessing local market
« Reply #2 on: March 31, 2014, 06:57:59 AM »
Really straightforward question, how do you assess your local real estate/rental market?

Really straightforward answer: the same way you'd assess any other real estate market.  :)

(I'm not being sarcastic, I'm trying to point out that there is nothing special about your local market.  Approach it how you would any investment.  And if you're not sure how to do that, hopefully by realizing this fact, you can read about assessing a real estate market long-distance, which is a more common topic, and apply those techniques to your local market.)
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