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Local searches are a very important factor, but not the only one. You should also check if there are companies with ads in that keyword and how much they are paying. It's very common to find words or phrases with high searches in areas like entertainment (artists names), warez and hackers, among others, but that doesn't make them really a good investment. You should always ask yourself "what's the end user for this domain", what kind of business can be established with it".
theres still some great names available but you gotta dig deep. i've bought some just recently with xxx,xxx exact monthly local search (.com.mx). if .mx can subsume .com.mx and the market does well these should be worth some bank