Knowing your market - feedback requested on how I am learning

[Luis Barahona]

Hello,

What do you think I should do to learn my market?

I have been reading The Ultimate Wholesale Bible and the first this the author suggests one does it to really learn about the market you're working in.

For me, this consists of 13 zip codes in eight surrounding cities. Here is what I have done so far:

1) Find the median sales price by zip code. I got this info from Trulia

2) Find the median time on market (last three months) - I got this information from realtor.com, albeit only at the county level.

3) Inventory - Searching the MLS with each zip code, I was able to find the number of listings in each area. I will be tracking this on a weekly/biweekly basis.

4) Foreclosures - I searched PropertyRadar by zip code for properties in foreclosure. 

5) Zoning Laws - I've downloaded zoning maps for each zip code and am going to review them. I am also planning on attending some zoning meetings as well.

What else would you suggest a newbie do to learn the market? What metrics should I be tracking on a daily/weekly/monthly basis?

[Brian J Peterson]

Go to:

https://www.homepath.com/resources.html

Go to the bottom, put in one of the zip codes, it'll bring up any properties available in that area.. A specific address isn't needed as you can search inventory by location.. Now the reason I suggest this is because this website and the links to other websites info is UNBELIEVABLE! 

Next just click on any property listed 

Scroll down until you find the "Housing Information" section and click on "View Now" (<--- just an example of what info will come up) next to "Characteristics:"

You'll find SO SO SO much excellent info about that Zip Code, you can even run side by side stats on another Zip Code as well with the "Comparative Community Overview" link at the top.. You can find Cost of Living info, school info, community overview, median household size/age/income, climate info, crime info, population growth by percentage, school test results, fair market rents..

Massive amounts of School Specific Info can be found HERE

Also be sure to check the "County Details Links" to check out more stuff about the properties/areas..

Good Luck!!