A local Market! The media paints with a broad brush when it comes to real estate, but as a buyer, seller, or real estate professional, one must always consider the local market in comparison with the broader national, or internationl markets. This is not to say that national trends have 'no' affect on local market, but we must all remember that it is the local market that make up the national trends. Better said, it takes highs and lows to come up with average, median, or mean figures. While one area is doing well, another may be doing poorly and those two together defines the outcome. This is paramount in the real estate industry. Most other industries can move or maneuver to create their prospective commodities, real estate is local as it can not be relocated.
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