| Start your real estate market research with | | | | for a long time, or do they go fast? Where |
| the U.S. Census information about a town. You | | | | are the good and bad areas? What are the good |
| want to invest in a town that is growing, | | | | and bad things about the town?Prior to moving |
| especially if you are investing in income | | | | to Tucson, Arizona, part of our real estate |
| properties. It's getting easier to do this | | | | market research was to call people in |
| now, with all the information available | | | | potential towns to see if they owned a snow |
| online. Just go to the official U.S. Census | | | | shovel. If they did, we crossed the town off |
| site at you call the chamber of commerce, or | | | | the list. Two different places can both get |
| the local department of economic development, | | | | 25 inches of snow per year, but in one it |
| they may have a packet of statisics they can | | | | stays all winter, and in another it melts |
| send you too, showing population figures, | | | | before noon. Our snow shovel question told us |
| employment mix, and more. These are a couple | | | | the truth behind the statistics.That was just |
| of the statistical tools and information that | | | | a personal thing with us, of course, but |
| can help, but one of the easiest and most | | | | talking to people can tell you much that is |
| useful research tools, is talking.Real Estate | | | | more directly related to investing. In fact, |
| Market Research - Choosing a CityTalking is a | | | | a good local bar can be a great place to do |
| great way to research a town. I once called | | | | your research once you are in a town. Patrons |
| the Chamber of Commerce of Deming, New | | | | will tell you what big employers are about to |
| Mexico. In the course of our conversation, | | | | move in or out of the town, how fast homes |
| the chairman casually commented that the city | | | | are selling, whether there are gangs, and |
| was using up the water faster than the | | | | much more.Ask which areas are improving, and |
| aquifer was being replenished. I also learned | | | | which are getting worse. Listen for stories |
| that they had no back-up plan. That was | | | | about noisy or animal-infested areas. This |
| enough to cross Deming off our list.When you | | | | kind of information is important, but hard to |
| want to know more about a town, use the | | | | get from the raw data. Of course, people do |
| phone. Use any excuse to call anyone from a | | | | sometimes exaggerate, so try to verify what |
| real estate agent to a random resident. Ask | | | | you hear. Still, talking to people of can be |
| questions about crime, whether the local | | | | a great way to do real estate market |
| government welcomes new businesses, what the | | | | research.Steve Gillman has invested in real |
| climate is like. Are houses sitting for sale | | | | estate for years. |