The next wave I'm expecting is a boost in commercial properties.  

This assumes you didn't wave it in your offer.

About a year ago, there was wave of homicides in the area - luckily the community came together and that seems to have subsided (there was a story in the Indy Star recently where they said they were celebrating a year without homicides: http://www.indystar.com/story/news/crime/2016/10/13/homicides-jump-across-indianapolis-one-neighborhood-gets-reprieve/91986988/).

There has been a tremendous appreciation wave since the recovery from the financial crisis, but one has to wonder how long that can continue.

The MLS can be hit or miss, I find the good stuff comes in waves followed by a few months of a dry spell (currently in one).  

Jennifer, I spent two years permitting a house and pier in 100-foot and 1000-foot buffers of tidal wetlands of the Chesapeake Bay in Maryland.

The area surrounding this target property is in the midst of a huge wave of development, and my initial thinking is that this would be a great area to own in for years to come.  

I realize that.... but after all these years as an investor who watches these things, I really get a clear sense of where to invest (or where to stay away from) and what neighborhood to target based on the wave of the Cap Rate movements.Hopefully this helps in some way to the reader of this post!

I agree, I think we have only seen the beginning of the next wave of migration from the Bay to Sacramento.  

Don't get me wrong I love what I do with Interior Design but self marketing while working with clients has me in money wave pool.