How do you get to know a market well?

[Ben Feder]

When investing in real estate, you're supposed to know your market, what all the nieghborhoods are like, where to invest and where not to invest, etc. How do you get to know a market like this without extensive research that can take months by literally finding out what all the neighborhoods are, exploring all of them, talking to people in all the neighborhoods, etc.? Is finding a good agent who knows the nuances of the market enough, or do you need more information before investing in a particular market? If you need more info, then what information do you need and how do you get that information?

[Aaron K.]

You don't need to know every detail but you need a solid feel.  When you are looking casually you don't get this.  At least for me as soon as you start looking with real money and a real budget you learn pretty quickly, which areas have value which areas have problems.  This kinda works with just internet shopping but is greatly magnified if you are actually touring houses.