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Don't listen to national broadcasts for LOCAL real estate information...

By
Real Estate Agent with Springer Realty Group RS305712

Well they've done it again..National Broadcasts announce real estate gloom..

  Did you ever hear of the famous saying in real estate: Location Location Location? Of course you have.  Well, it is very true in more ways than the way it is normally used.  I woke up yesterday to Good Morning America announcing that National numbers are pointing to the fact that the "double dip" in real estate prices has arrived.  Real estate is local.  As a matter of fact, it can be as localized as a 5 mile radius!  Just because real estate markets may have dipped to an all time low in (East Dirtfield, USA) that has NO bearing on what the market is doing in your neighborhood-unless of course you live in East Dirtfield~ ;)

I will keep this short and sweet.  The real estate markets success is based a great deal in consumer confidence.  I ask you, how confident is everyone when the media chooses to announce doom and gloom across the country because they have found a few pockets in an area that are not doing so well? 

Do yourself a favor-find yourself a well educated real estate professional in your LOCAL area.  Sit down, have a cup of coffee and discuss your local market.  THAT is the only area you need to worry about if you are considering selling your home.

Have a great weekend and don't believe everything you hear, folks!

 

Comments (5)

Jill Kipnis
Move, Inc. - Westlake Village, CA

Faith, I completely agree with your comments. It is critical for individual home buyers and sellers to focus on what is happening in their neighborhoods. This year, Realtor.com has started releasing monthly data reports that show median list price, inventory counts and median days on market for 146 MSAs. It's really interesting to look at that and compare to national numbers: http://www.realtor.com/blogs/2011/05/18/realtor-com-data-listings-notch-upward-as-home-buying-season-starts/

Jun 03, 2011 07:54 AM
Sarasota & Manatee Counties FL
SaraMana Properties - QuickFreeMLS.com - Bradenton, FL
QuickFreeMLS.com - Listings In Paradise

Point well taken! Thanks for sharing your thoughts on this!

Jun 03, 2011 08:10 AM
Karen Crowson
Coldwell Banker Residential Brokerage - Rancho Bernardo, CA
Your Agent for Change

The news can paralize people with fear about the what if's. Truthfully, sometimes I avoid it altogether. And guess what?  I don't expect the market to affect my business, and it doesn't.

Jun 04, 2011 02:54 AM
Marilyn Harrell
Better Homes and Acres - Beaverton, MI
Wixom Lake - Beaverton MI

The market does vary greatly from one area to the next. Have a great day!

Jun 05, 2011 05:54 AM
Brigita McKelvie, Associate Broker
Cindy Stys Equestrian and Country Properties, Ltd. - Lehigh Valley, PA
The Broker with horse sense and no horsing around

Faith,

Very well put.  The Lehigh Valley home sales were up (by 29.3%) in May and the average sales price for May was up 8.1%.   If you ask me, that sounds like it's good news.

Brigita 

Jun 13, 2011 08:16 AM