I am seeing a spike in prices over the past 5 years in about 7 different areas of Pittsburgh. I try to focus on those areas but sometimes I feel its too late. I want to get there before the hype. I am trying to hone my skills to sniff out the next hot spot. Things I have been looking for is population growth, rise in sales prices, days on market, rental prices, economic development that may be coming to that area or the perimeter of the area that could cause a higher than average appreciation.
Anyone want to chime in on other indicators that they look for?
Something I look for is where the city is spending money. Sometimes you'll hear a city or a city group spending money to revitalize an area of town that used to be very bad. That is when I go in and buy as much as I can in that neighborhood.
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