Real Estate
Unreliable Information about The Real Estate Market
October 23, 2009 by Rob Kosberg · Leave a Comment
National TV and radio stories talk about something called the national real estate market. We are hearing about a market that does not exist.
Without a doubt there are many states, cities and neighborhoods that have fared well during the real estate crisis. Some areas have seen real estate values stay flat while others have even seen a slight increase. The data differs from area to area so consider these facts.
A national survey called the American Housing Survey most recently concludes that there are 124,377,000 homes which are in:
The data is based on all 50 states and there are too many neighborhoods to count with more than 30,000 incorporated cities.
And yet, the media repeatedly groups all 124 million homes into one giant lump and then gives an analysis. No matter how you slice and dice the data, a home in Oregon can’t be compared to a home in Mississippi. This is why national real estate statistics are somewhat useless.
If you want useful data, you need to find the local real estate analysis. You will want data from your specific neighborhood, not the entire state. This data will show what drives the local market.
Unfortunately, finding local data like this isn’t easy; it’s far too narrow to be covered by the press. So, the best place to get local real estate data is from a local real estate agent or from somebody else with access to raw real estate data in and around your neighborhood.
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
categories: zero down mortgage, no money down mortgage, home buying, down payment assistance, FHA, short sales, Mortgages, Refinance, Real Estate, Finance, Economy, Money
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