Have Financial Experts Forgotten That "All Real Estate Trends are Local"?
Doom & Gloom or Let's Celebrate. Should we believe the news media? Statistics: What are they telling us? Who is telling us the truth?
Jane Grant makes valid points in today's post that we all need to consider.
I've noticed so much negative press about the real estate industry lately.
No one should be surprised that residential Real Estate, re-sale business is lagging during the Holiday Season. A recent report by Dataquick, mentioned that Real Estate sales statistics were down in both price and number of units sold, in November 2010. However, Dataquick only casually mentions that prior to October 2010, sales have been up for 12 consecutive months.
Analyze the wording of this paragraph directly from Dataquick, with me, for just a minute and it will show how statistics can be made to look good or not so good."La Jolla, CA---Southern California home sales fell in November to the second-lowest level for that month in 18 years, reflecting the weak economic recovery, a dormant new-home market and tight credit conditions. The median price paid for a home rose above a year earlier for the 12th consecutive month, though November’s gain was the tiniest yet, a real estate information service reported."
If the Dataquick guru's put the second sentence first it would shed a better light on our housing numbers in Southern California.
Of course numbers are down slightly in October and November but the fact that they were up for 12 consecutive months is extremely overshadowed by the first sentence.
All Real Estate Statistics are local, and lumping this one market, La Jolla, in with all of Southern California, creates a very confusing environment for consumers, trying to figure out the Residential Real Estate Market.
As Real Estate Professionals, I don't think we can state enough to each and every consumer that, "All Real Estate Is Local", and finding out what is going on with "Recent Sold Comparables", is essential to perspective home buyers!
Contact me for specific Sold price information and Real Estate trends, per neighborhood, throughout Southern California. If you're thinking of selling your home call me for a complete comparative analysis! I do FREE virtual tours and offer staging advice from a Home Staging professional - To help your home sell quickly!SEE MORE OF MY RECENT POSTS! Search For Homes
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