The Worst Places To Find Local Real Estate Information
Stories on TV about the national real estate market are misleading to Americans. This is because there is no such thing as a “national real estate market”.
There are many areas, cities and even whole states that have remained strong during the present real estate crisis. There are cities in hard hit states that have seen their home values remain relatively flat or even increase slightly. And, of course, there are some neighborhoods within cities that have outperformed others. When thinking of the real estate market remember this.
There are 124,377,000 homes in the United States according to the most current American Housing Survey. These homes are within:
The data is based on all 50 states and there are too many neighborhoods to count with more than 30,000 incorporated cities.
Our media clumps the 124 million homes in a huge group and attempts to analyze their data. It doesn’t matter one iota how the media presents this because houses in Los Angeles can’t be compared to houses in Pittsburgh.
To get real estate analysis that matters, look local instead. And I don’t mean stats from your state — I mean stats from your neighborhood. It’s the only way to know what’s driving home prices on your street.
The media doesn’t report small markets. Consult your neighborhood real estate agent or someone with access to the data. The professional can provide a better picture of what is driving your neighborhood market.
By talking to local professionals that know your backyard, you’ll get a much clearer picture of your local market — good or bad — than the national media could ever provide.
Remember, real estate is unlike a gallon of gas. Gas may be similar from state to state but not real estate. Don’t worry about the stories you hear on national media. Real estate is a local market so your real estate data should be local, too.
If you are in the early stages to Buy a Home then check out Rob Kosbergs’ Detailed FREE Guide on Buying your Dream Home with a Zero Down Mortgage or for up to date Mortgage info visit my Mortgage Blog
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9 Nov 2007 at 8:55pm
(Best Syndication) This video will explore the option of refinancing a loan as opposed to taking out a second mortgage. When you refinance a ...youtube.com
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