All Forum Posts by: Philip E.

I think the best way to determine what may happen in a future market bubble in a particular community or neighborhood is to go back and look what happened there during the most recent bubble/bust cycle.  For example, in the area where I invest, Washington DC, property values declined much more significantly in the DC suburbs than they did within the city itself.  Within DC, certain neighborhoods actually maintained or had a very small decline, while others had a much bigger one.  

I would begin my research by selecting some targeted areas and then seeing how much property values declined in those areas between 2006-2010.  It's a good bet that the places that saw the biggest declines will still be the weakest come the next market decline unless they've had some major changes (neighborhood revitalization, new public transportation options, etc).  

@Greg Baur

First of all that is a great question and a lot of people are looking for ways to figure out how much construction is going to cost when you are flipping a house or holding for a rental. 

And normally as always, time is very important, meaning that you have to come up with a quick but very good close estimate. 

We created a item called a Budget Cheat Sheet which is a simple 4 by 6 postcard. That has two sections Exterior and Interior. Then 3 columns across the top 1,000 sqft 2,000 sqft and 3,000 sqft. 

You simply pick your square footage then simply line up the items that you need and it will show you a close estimate as to how much it cost for labor and material. 

If you want one PM me and I can probably email it to you.

See Below: