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Have Financial Experts Forgotten That "All Real Estate Trends are Local"?

Reblogger
Education & Training with Alan Kells School of Real Estate/Howard Hanna Real Estate

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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Contact me for information about living and playing in Riverside County, California!


 

Jane Grant Real Estate Broker In Riverside County, California -  DRE  01109492
Southwest Real Estate, Inc. 
Telephone:  866 621-0155

 

Temecula Homes For Sale

Riverside County Homes For Sale
 

"Riverside County Living"

Click Here for disclosure of non affiliation!

 

Posted by

 ***************

Mary Yonkers

 

      I thought about a Real Estate career for 11 years before I made the decision to get my Pennsylvania Real Estate license in mid-80's.  

      Thirty years later I can say affirmatively that Real Estate has been a fantastic career. 

      Come join me in class soon. Mary Yonkers, Real Estate Instructor

 

With so many homes for sale in Erie PA, this is the right time to begin your career as a Real Estate salesperson in Erie, PA.

 2018 Alan Kells

 

 

 

www.alankells.com

Mary Yonkers, Real Estate Instructor

 

 
 Mary Yonkers Howard Hanna Real Estate Services in Erie, PA

          Office:  814-835-1200 or Cell:  814-881-7548

Real Estate Classes Alan Kells Schools of Real Estate in Erie, PA  1-412-967-0240 

Real Estate Career in Erie, PA  1-814-835-1200

 

Comments (10)

Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Mary...How true!  What happens in our area determines, at least the current market, the health or weakness of our market.  We have found that even within our market there are some types of properties more marketable than others.  Watefront homes are always the most popular and retain theire value more.

Off to thank Jane also.

Kate

Dec 22, 2010 04:27 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Good reblog Mary. so many folks just don't get that it's local.  In fact it's more hyper local, neighborhood by neighborhood.  Phoenix is so complex. Some think we're heading back up - others think we're still going down. Both are correct depending on the area.

Dec 22, 2010 06:49 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Kate--And that is why working with a Realtor who know the local market is so, so important.  Yes, waterfront is always popular & holds it value quite well even in a down market.

Dec 22, 2010 08:10 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Anna--northwest PA was very lucky during the last down turn that our market did not suffer as much as other areas, but then we don't have the huge upswings in our market during good times.  We are more slow & steady.  We trudge along through good & bad, however, we did have a very slow market for last two years. 

Those who work smart as well as hard will perserve and be around for a long time.  I know that you are one of them in the Phoenix market.

Dec 22, 2010 08:18 AM
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Mary:  Thank you so much for the re-blog, I really appreciate it!

Dec 22, 2010 12:28 PM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

You are very welcome, Jane.  Merry Christmas.

Dec 23, 2010 12:20 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Mary,

I agree with you (and Jane).  We've been having one of our busiest Decembers with buyer and seller contacts.  All our websites are showing good activity as well.  (shhh, we don't want the news to get hold of this)

MERRY CHRISTMAS,

Steve

Dec 23, 2010 01:48 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Quite a few areas have been busy this fall.  Yes, the news media is no where to be seen.  Guess they are looking for more outrageous stories so they can grab the year end headline.

Enjoy the holiday.

Dec 23, 2010 02:26 AM
Lanre-"THE REAL ESTATE FARMER" Folayan
Samson Properties - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Mary my name for the Media is Poison (Only when they state their Real Estate Reports). 90% of what they always say about the Real Estate is bad which discourages more ready,willing and able home buyers from buying. Great to see you back Mary. Happy Holidays to you and your family. Great post.

Dec 23, 2010 04:22 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Thanks, Lanre.  It is so good to see you, too.

Merry Christmas--Mary

Dec 23, 2010 04:28 AM