Investor · Houston, TX · Member since 2019 · 22 posts · 3 votes
Hi,
For someone who is starting out, what would be the best way to know the local real estate market, which neighborhoods are appreciating or going bad? Are there any journal, newsletter that RE investors subscribe to in order to stay informed with their current RE market?
@Sam Pant - Before jumping into specific neighborhoods, take a look at more macro-sites like city-data.com to get a grasp on population growth/decline, median home values, crime trends, job growth....etc.
Digging into a specific neighborhood, you can find some decent general info on sites like niche.com, the bureau of economic development for the area, and business journals (usually just at the city level), but as @Jim Pellerin mentioned, you need to get info from boots on the ground. Talk to investors, property managers, realtors, cash buyers - these are all things you can easily google and find the right players.
I'd personally go there myself as well. If you're not local, invest in the plane ticket to get there. If you're not willing to fork over a few hundred dollars to get a lay of the land, the out of state route might not be a great fit.
Lastly, it's a simply step but commonly overlooked, check out the market every single day. I don't necessarily buy off the MLS but I check it everyday to see what's selling and what's stagnant to get a clearer grasp on my ARV and the general market trend for my little area. You can do the same for rents with sites like rentometer and others.
Hope that helps, feel free to reach out with questions.