Paul Kraaijvanger, Founder of Real Equity Group, on Local Markets

When one hears their local real estate market is headed for a pop, it becomes all too easy to get wrapped up in the hype and make detrimental decisions, such as buying or selling their current properties too quickly. Therefore, it is imperative one does not throw caution to the wind in such scenarios. Instead, they must carefully evaluate their expectations and the overall market before even considering making a move.

With that fact in mind, let us highlight some methods of evaluating a market before buying or selling a home.

Use the internet

While this option may seem painfully obvious, one would be shocked by the number of individuals move forward with real estate transactions based on their gut feelings alone.

Be sure to mitigate any poor decisions by simply doing some research online, as the information found in your search engine is likely hyper-relevant to the area you are thinking of moving to. Plus, the results you find will be far more reliable than most word-of-mouth advice — that is, so long as you utilize the proper search term. For instance, consider searching for information on specific neighborhoods, school district ratings, and so on, rather than looking for local attractions from the onset.

Acquire necessary data

Outside of merely getting to know your potential new neighbors, it is important you garner as much information on the area’s market as possible. To achieve such a feat, consider scanning some local brokerages’ quarterly market reports to fully grasp the ebb and flow of the area’s real estate history.

Work in tandem with local agencies

Along that same vein, local title companies also yield a plethora of relevant market insights. If you are still torn after reviewing a brokerage’s quarterly report, be sure to tap a professional in the local title office, as they can produce a number of data reports that will give you a more granular look at the area — from recently closed sales to market trends over time.

Buying or selling a home should never be a visceral or split-second decision. Instead, it should be a carefully thought-out choice that is supported by data, extensive research on the area and its highlights, as well as a thorough understanding of the negative aspects of moving. Be sure you check off each of these boxes prior to even leaning toward a specific decision. Otherwise, you may find yourself regretting your move in the near future.

Paul Kraaijvanger is the founder of Real Equity Group One, a real estate rehabilitation company based in San Francisco. Outside of his career, Paul is passionate about helping others better grasp the inner workings of their real estate markets, as well as participating in local water polo events. To learn more about Paul Kraaijvanger, be sure to visit his website.