Los Angeles - What are some great sources for market research?

[Account Closed]

I'm knew to the world of real estate, still in school but would like to start researching in my free time.

What are some great sources for market research in Los Angeles, so I can start learning trends for square foot pricing by neighborhood and price comps, etc?

[Karen Margrave]

Angelo Evangelatos Welcome to BP! Go get some of the free Home Guides you find at the supermarkets, and get familiar with some of the different areas. Go visit Open Houses in different neighborhoods, and try to watch the houses, what they're listed for and what they sell for. Pay attention to the finish work, look in the cabinets, are they corrugated wood, solid wood, etc., what's on the floors, look at the quality of windows, etc. In subdivision model homes, look past the staging! All of that is there to distract you, so that you don't see the construction. Also, on models, be sure you look at what you get for the price, because most models are highly upgraded, and thousands more than the price advertised.

You can also go on to www.realtor.com and www.socalmls.com

Snoop around, ask questions, and have fun! Post any questions you have, and someone will answer!

[Account Closed]

Hi Angelo,

Welcome to BP. Personally, I like Redfin.com.

[Account Closed]

@Minh L. Thank you, I've heard Redfin as well as Zilllow are great resources. Someone I know who works in real estate says the only reason he prefers the MLS is because it offers real time information in comparison.

@Karen Margrave Thanks for that! So if I want to study particular neighborhoods for price comps, those are sources I could use? If I was interested in Marina Del Rey by example, and found a listing for a two bedroom, two bath, I would want to find price comparisons for places in the same area with similar factors in order to see if it's a fair listing?

[Josh Prince]

Redfin has lots of information about listings and sales. If you want to see what rents are being offerred check out craigslist - use the map search, and also padmapper. Those will show you what people are asking for rents in the city.