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Your local housing market is NOT the national housing market

By
Real Estate Agent with Diane O and Friends - Benchmark Realty 290309

Imaging watching the weather and the announcer is from Boston, Massachusetts and he states that today we will have a high in the 60's with a 75% chance of rain.  This information may or may not be accurate for Boston, but it you are in Franklin, TN not so much.

Well that is what is happening with the media's constant negative drum beat of the housing market. Headlines read,  Housing Crash Continues, Bubble Pops, US housing starts slip in July , and  Housing Market Teeters Between Recovery, Relapse

Maybe if you are in one of the depressed areas of the country, but not if you live in Williamson County, where July was one of our best months in a year.

Take for example a homeowner I've been working with.  She said that prices are so low that she really can't sell even though they really needs to.  OK, lets look at the numbers.  She bought her home in 2002 for $218,000 and today we could list it for $335,000 and it would most likely sell for $325,000.  Well, that means that she has gained more then $100,000 in value in 7 years.  Not a bad investment.

If you are thinking of buying or selling call your local realtor to learn about your market.  Every market is different, some better then others.  If you are looking to move , whether its  the Greater Nashville area or Boston, MA look no farther then Diane O and Friends for your real estate needs.  We can help you locally here in Tennessee and through our national referral network.

 

         

Posted by

 

Benchmark Realty,318 Seaboard Ln., Ste 115, Franklin, TN  615-371-1544
Diane Osowiecki, license #290309 cell - 615-406-2184  email  diane@dianeo.us
Bob Osowiecki, license #325031  cell - 615-878-3902 email  bobointn@gmail.com
 

Comments (2)

Roy Kelley
Retired - Gaithersburg, MD

Good information. Too many listen to the national news and think all of the information applies to their local market. In the Maryland suburbs of Washington DC, we have our share of buyers that are waiting for the bottom of the market when, in fact, the market has firmed up and we are seeing multiple contracts on many listings.

Aug 19, 2009 02:28 AM
Leslie Helm
Tennessee Recreational Properties - Jamestown, TN
Real Estate For Trail Riders

Good point, Diane, and good post. You are absolutely right! I live in Jamestown TN where, as you undoubtedly know, the Big South Fork national park is a destination for trail riders. When your area is a destination with whatever its particular draw might be, its real estate pulse will be a little different from the rest of the country or even the rest of the state! 

Aug 19, 2009 03:15 AM