Conduct Your Own Due Diligence

From a reader a few posts ago:

I know this is outside your comfort area, but how would I do research on all the different neighborhoods of Burbank? I've combed through the CityData forums and Redfin comments. Where else can I look?

First of all, my approach should probably work almost anywhere. But before focusing in on a specific area, I would look at a larger area and break it down by city limit, school district (and specific elementary school boundaries), school API scores, zip code, etc. I did some of this for Culver City to familiarize myself. All of this info can be found via a quick Google search. In the case of Culver City, I was able to quickly figure out that there are two zip codes (90230 and 90232) which I wanted to look at. I actually used Zillow to take a wide angle view of the area and surrounding areas. If you zoom out enough you will see all the different towns/cities/areas shaded as separate areas. On Culver City's town website there is a zip code map and you can also then see where the different elementary school areas are. You can use the California API website to see which schools score better than others.

But after you take this wide view you really need to get down on the ground and walk around a bunch and on week days and weekends. Busy streets, airports, freeways, and downtown areas create traffic and noise. But they also offer benefits too. Gotta figure out what works for you.

I would then go to guests.themls.com and do some searching. Go to open houses. Talk to some real estate agents. Ultimately it is your responsibility to do your own homework because nobody is looking out for you. There is no "fiduciary duty" for anyone else to make sure you buy the right property at the right price. So if you are really a nut then you will start copying down MLS #s of properties that you like. An example would be "10-443485". Then you would copy down the MLS website URL and paste in the MLS #s to really track properties...

http://pro.themls.com/All_Searches_Preview_Files/pow_one_client_detail_preview.cfm?se=1&header_title=no_header&chosen=10-443485&property_type=0

Keep a spreadsheet.

Really it all comes down to spending time in an area and walking it a lot. Just looking at different properties should give you enough info to figure out what type of people live there, if an area is getting better, young people moving in, etc.