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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Monitoring the Real Estate Market Posted by Ward-CA- on June 21, 2001 at 9:20 AM In Reply to: Monitoring the Real Estate Market posted by Mike on June 20, 2001 at 7:49 AM : Hi Ward, I was wondering if you could tell me if there are any sources on the web that helps you to monitor the real estate market. Such things like the trends of per capita income, building permits, apartment occupancies, office occupancies, new businesses coming in, etc.. =•=•=•=•=•=•=•=•=•=•=•=•= Wow, a very good question—especially in the context of staying on top of the foreclosure market locally. I guess there are really two things you’d want to know about your local real estate market: 1) In what phase is the local real estate market right now? Is it a Seller’s, Buyer’s or Neutral market? This is an important question because it will dictate how long you’re going to be holding a foreclosure if you buy one today. And you will want to factor in the length of your holding period when figuring out your maximum bid for any foreclosure sale you attend. There are two indicators you have to check to answer this question. The first indicator is the current mortgage interest rate being quoted. The second indicator is the number of days it currently takes to sell a house in the neighborhood where the foreclosure prospect is located. The marketing time I get from the local Multiple Listing Service. The current mortgage interest rate I get from the local office of Countrywide Funding. 2) Where is the local economy going in the next 6 to 12 months? Generally the best indicators of the mood of the economy are the current trend of unemployment and the trend of your local consumer confidence index. I get both of those indicators from the research department of the Greater San Diego Chamber of Commerce. I’ll bet you can do the same thing with your area wide chamber of commerce. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward, I was wondering if you could tell me if there are any sources on the web that helps you to monitor the real estate market. Such things like the trends of per capita income, building permits, apartment occupancies, office occupancies, new businesses coming in, etc.. : =•=•=•=•=•=•=•=•=•=•=•=•= : Wow, a very good question—especially in the context of staying on top of the foreclosure market locally. I guess there are really two things you’d want to know about your local real estate market: : 1) In what phase is the local real estate market right now? Is it a Seller’s, Buyer’s or Neutral market? : This is an important question because it will dictate how long you’re going to be holding a foreclosure if you buy one today. And you will want to factor in the length of your holding period when figuring out your maximum bid for any foreclosure sale you attend. : There are two indicators you have to check to answer this question. The first indicator is the current mortgage interest rate being quoted. The second indicator is the number of days it currently takes to sell a house in the neighborhood where the foreclosure prospect is located. The marketing time I get from the local Multiple Listing Service. The current mortgage interest rate I get from the local office of Countrywide Funding. : 2) Where is the local economy going in the next 6 to 12 months? Generally the best indicators of the mood of the economy are the current trend of unemployment and the trend of your local consumer confidence index. I get both of those indicators from the research department of the Greater San Diego Chamber of Commerce. I’ll bet you can do the same thing with your area wide chamber of commerce. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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