Can you help me judge a future market?
13 Replies
Tony Gallina
Commercial Real Estate Broker from Bellingham, Washington
posted over 2 years ago
Any help on doing this?
Christian Harris
Real Estate Agent from Atlanta, GA
replied over 2 years ago
Hi Tony,
It's pretty tough from what I hear and what I try to dig up to find out exactly what Mr. Market is going to do in the imminent future. However, there are historical trends that you can look for to take a guess at where you local real estate market is within the cycle. Let me know if this article below helps at all!
Tony Gallina
Commercial Real Estate Broker from Bellingham, Washington
replied over 2 years ago
very helpful thank you! @christian
@Christian Harris undefined
Ryan Cox
Investor from Austin, Texas
replied over 2 years ago
Hi Tony,
A few things that I would consider when evaluating a market:
- Population Trends
- Job Trends
- Job Diversity
- Who are the top employers in the market
- Are companies moving into market/leaving market
- New construction starts
- What are the top industries/Is the market dominated by one
Hope this helps! RC
Tony Gallina
Commercial Real Estate Broker from Bellingham, Washington
replied over 2 years ago
Thank you.
@Ryan Cox do you think proximity to the Canadian border would have much to do with rental markets?
Ryan Cox
Investor from Austin, Texas
replied over 2 years ago
I think that the growth in Washington state and specifically in Seattle-Tacoma-Bellevue point to strong rental markets based on population growth in the past 5 years(8.54% growth 2010 to 2015). How that applies to Bellingham would need further research.
Tony Gallina
Commercial Real Estate Broker from Bellingham, Washington
replied over 2 years ago
interesting....how would one research that?
Zach Quick
Investor from Pittsburg, Kansas
replied over 2 years ago
@Tony Gallina Start googling the questions you are asking, that would be a start. Are you really a commercial broker?
Tony Gallina
Commercial Real Estate Broker from Bellingham, Washington
replied over 2 years ago
Yes.....albiet a new one
Tony Gallina
Commercial Real Estate Broker from Bellingham, Washington
replied over 2 years ago
Yes.....albiet a new one
Brian J Peterson
from North Riverside, Illinois
replied over 2 years ago
Originally posted by @Ryan Cox :
I think that the growth in Washington state and specifically in Seattle-Tacoma-Bellevue point to strong rental markets based on population growth in the past 5 years(8.54% growth 2010 to 2015). How that applies to Bellingham would need further research.
According to this data it looks like Bellingham has seen almost 41.5% growth in population since 2000.. This is a great tool for evaluating areas as a whole and even comparing them to other areas side by side..
Brian J Peterson
from North Riverside, Illinois
replied over 2 years ago
Originally posted by @Ryan Cox :I think that the growth in Washington state and specifically in Seattle-Tacoma-Bellevue point to strong rental markets based on population growth in the past 5 years(8.54% growth 2010 to 2015). How that applies to Bellingham would need further research.
According to this data it looks like Bellingham has seen almost 41.5% growth in population since 2000.. This is a great tool for evaluating areas as a whole and even comparing them to other areas side by side..
Brian J Peterson
from North Riverside, Illinois
replied over 2 years ago
check out this tool I found online when looking at properties.. all of this info should be readily available and easy to access for a Commercial Real Estate Broker.. How long have you been a broker for, I've got friends and family out there, maybe I can send them your way if they ever need help finding a property!!
Tony Gallina
Commercial Real Estate Broker from Bellingham, Washington
replied over 2 years ago
Iv been a broker for about a month now. Thank yes please do i always like to net work!
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