How Local is Local?
Okay, so after I wrote my blog this morning about real estate being local, there was an interesting post on my Twitter Feed from a mortgage company. It's to THIS LINK - an interactive tool on CNN Money. This tool let's you look at the real estate forecast in your city. Really, my city? How exciting!
However, when I go to click on "my city", the closest city is actually Los Angeles. What's wrong with this picture! Well, for starters, Los Angeles metro is about a one and a half hour drive from east Los Angeles County, where I live. Seriously, you want me to call this local?
There is no possible way that Los Angeles real estate is the same or even close to La Verne real estate or anywhere along the 210 corridor where I live and serve. For instance, I serve Pasadena through Fontana. I just sold an older home in Pasadena with three bedrooms and two bathrooms for nearly $550,000. A home of this size and age in Fontana would be around $250,000. A huge difference! And in Fontana, there is quite a bit of newer construction where you can purchase a home for around $350,000 that has four or more bedrooms and more than 2000 square feet. So when you compare the neighborhoods in Fontana, even those vary greatly.
So when I tell you that you need a local expert, one who knows the neighborhoods and prices at the very least, I tell you this for your own protection. You need someone who knows the market to get you the very best deal you can possibly get. It also helps if that person knows the schools and the community so you can come into it with a good idea of the area.
I try to stay on top of the communities I serve and be a local expert for all of them. So if you are interested in buying or selling a home, or if you simply have real estate questions, please feel free to contact me. I will be more than happy to assist you!