Hi! Basic questions, I am sure there is actually a resource for them on the BP, I just haven't found it yet.
When analyzing a neighborhood's value....
1. What are the best trend indicators to follow? Crime, School Rating, recent sales comps, ... anything else?
2. Also, what resource should I be using to forecast future growth/value of a neighborhood? I see on Zillow they have "neighborhood evals", but how are they determining increases and declines in growth rate? Id rather use more resources that just Zillow to determine popularity. I hear investing in Parker is great, but as a newbie/soon-to-be investor, why would I know its great?
1.) Comparing the previous year's rents, values, etc. Average days on the market for properties in that county is good thing to look at as well. Robert Campbell has a great book called "Timing the Real Estate Market" that really breaks down the best indicators. I definitely recommend checking that out. I tend to look at population trends, economic trends (i.e. local business growth), as well as the other things you mentioned.
2.) I'd be curious to hear other people's suggestions for aggregator out there for this info. I think The National Association of Realtors gives forecasting, I take some of it with a grain a salt but it may help point you in the right direction.
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