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What a difference a state makes
I recently sold a house in the state of New Mexico with the help of a skilled real estate agent (thanks Rich Cederberg!), and as both a New York real estate agent and the seller of a home in another state, I can say with certainty that real estate certainly is local.
Most of the time when we talk about the local nature of real estate, we are talking about price points or home styles. Real estate professionals know that the price range for a 4 bedroom, 3 bath colonial with an acre of land can be dramatically different from town to town and even from street to street. But in addition to varying price points, the process for purchasing and selling a home can be significantly different from area to area. And in this case, there were some big differences in the way real estate works between my area in New York and the Albuquerque area of New Mexico:
The important takeaway from this overview is that real estate truly is local. That statement doesn't just refer to the price points, home style, and amenities, but the buying and selling process as well. If you are purchasing or selling a home for the ... more
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