This article calls attention to the most important rule of real estate… it’s LOCAL!!!
You must know what your local market is doing before you attempt to make any decision,
otherwise you won’t be making a well informed decision – call us, we’ll be happy to help
you gain the information the author speaks about below.
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“How can you go about assessing your own local market? You can start by looking at the same key identifiers the NAHB uses. Have their been increases in housing permits? What is the current rate of pending sales/contracts in your community? Are homes sitting on the market longer than 6 months?
Perhaps most important is to consider the state of the local economy. What is your local unemployment rate and is it on the rise or decline? The jobs markets is key to the health of many local housing markets for a simple reason. People with steady employment make moves. Those who are unemployed or struggling to keep the job they have are not generally inclined to jump into the large financial decision buying a home is.
In order to find this information, you’ll need to enlist the help of several local professionals. Local real estate agents have access to a wealth of local information, including days on market, median sales prices, and they can even provide you with a market analysis on your own home. Local county offices may have public records that can show you the latest jobs trends for your city and region.
The figures are mixed for markets across the country. Some areas are seeing marked improvement, while others continue to face an uphill battle.”
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Read Full Article Here; More Markets Show Signs of Improving – Realty Times
Yours to Count On,
Erika Madsen
The Madsen Team ~ Our Trademark is Communication
Associate Broker/Realtor ®, CDPE, CLHMS
Coldwell Banker ~ Howard Perry & Walston
919.467.1882 office
919.520.6612 cell
919.653.4821 fax
