As an investor, you are getting ready to spend money on something that you are hoping makes you money, and doesn't lose you money. What do you do as an investor to get accurate data in a market before you purchase the home? Obviously comps matter to everyone, but what about the other things happening in the City?
Does it matter what is happening in the market cycle? What about the market index of supply and demand? Do you want to know what areas have large contract ratios? Does the employment rate matter, and what new job opportunities are coming?
What about the Government? Does the Consumer Price Index or the Personal Consumption Expenditure matter?
OR do you follow the leader? When you hear other investors are going somewhere you jump on the bandwagon and ride along? If so, are you sure the information you have heard is current? I know in Arizona December was a buyers market, and now, well its not and it's February. If you talked to someone with great advice two months ago things are changed, and you might be basing your investment goals on old news. I can state that, because I keep up on all of those things weekly and biweekly. It's important for my clients to know how to put in a good contract to get a property they want. Its also important for my clients to price their properties to sell. Time is money. Are you keeping up with the times?
