Bad News Everyday....

Everyday I check the newspapers and the internet for news on Real Estate. There are always a few articles on real estate. I would like for anyone reading this post to realize that ALL real estate is local.

While there are similarities in markets, you have to realize that local is key. What is happening in Detroit is not what is happening in the Big Apple!

Take the time to do your homework when it comes to your market. Some sources to use are statistics from the local multiple listing board, if you have one. Some counties will publish numbers in local newspapers. On the internet, resources such as Zillow and Property Shark are becoming more accurate everday. The thing to remember with these sites, they may have closed transaction information, but they do not have details on size and condition of the houses. Zillow will give you a chart of homes that have sold, if you know the neighborhood, that helps.

Your largest resource would be to contact a qualifiied realtor for the information that you are seeking.

If you are a seller, keep in mind that the selling price is the price that you are willing to sell at AND that a purchaser is willing to buy at! Condition and location are all important. Gone are the days of buying a handyman special at high prices.

When pricing your home, you want to be at the lowest price of your style home and even 5% less than the lowest price! Be aware of the days on market in your neighborhood. If you wish for your home not to be stale, then price your home accordingly.