This week’s Capital Market commentary is provided by Tom Powers:
A recent article in the Washington Post about Woodward/Bernstein and Watergate reminded me of the importance of using real-time ‘boots on the ground’ market info when making real estate investment decisions. We all know there is an incredible amount of great information available on the Internet regarding market trends in any given market. A good portion of this info is relegated to viewing from 30,000-1,000 feet level. Very little is ground level, real time information – the kind of info that often separates a good investment decision from a great one. When I got my first job in commercial real estate right out of college (not Yale!) my mentor told me to “Know more about your market than anyone else”. I still believe today that it is important to dig deeper than what you can find on the Internet. The Internet is a good supplement but nothing beats ‘boots on the ground’ market intelligence. Woodward and Bernstein are probably using the web when researching stories but I gather they are still beating the bushes for the info that will turn a good story into a great one.