Today's real estate market has some of us concerned, worried or maybe a little fed up. Do what I find myself doing from time to time - Take a deep breath and count to ten... Did it work? If not there is still hope.
Everything you are hearing on the news and reading in the papers may paint an ugly picture for the sale of your property and we may even need to hold our own for a short sale, but before you give up - realize that REAL ESTATE IS LOCAL! (Don't rely on the national media for valid local information)
Everything effects real estate locally. We must research all the statistics before we place a price!
- WHAT HAVE COMPARABLE HOMES SOLD FOR?
- IN YOUR NEIGHBORHOOD/COMMUNITY?
- CITY/TOWN.
- COUNTY.
- WHAT IS THE ANNUAL INCOME VIA MORTGAGE PAYMENTS?
- DOES MONTHLY INCOME EXCEED 1/3 OF PAYMENTS?
- HAVE THERE BEEN FORECLOSURES IN YOUR NEIGHBORHOOD?
- WHAT IS THE UNEMPLOYMENT RATE?
- THE SMALLEST FALL CAN EFFECT SALES.
All these local statistics can have a big impact on the sale of property. Making sure you have a Realtor do the research will determine if you have your real estate priced right and salable! Extensive on-line and local marketing is also a big factor.
For a free consultation / sit down with a cup of coffee at my office - feel free to contact me.
- CHRISTINA WILLIAMS / LICENSED TN REALTOR
- F1RST REALTY COMPANY
- (931) 510-0859 / (931) 484-1005
- tennesseeliving@gmail.com
Hi Christina! It is so great that you are reminding people that real estate is local. It will go up and down and vary from city to city. One thing I can tell you is that you should not get your information from the media. They like to report doom and gloom and it is hurting my buyers. Some are convinced that they should wait (because of the media) but I am afraid for them. All the homes in my buyers' price range get multiple offers and we are getting out bid!
Bravo! What a great way to be the most professional of real estate agents! Excellent advice!
Christina, so good a reminder for everyone, and even areas within the local section vary widely too.
I still have to do our 3rd quarter reports. I printed all the data but it's so tme consuming to make all the charts. But I have to do it since I alredy did the 1st and 2nd quarters =/
Cristal - I completely agree. The media is the great downfall of most information and their own opinions!
You can do it Lisa - will only pay off. Educated stats on our local market is key.
So true Gary. What stats do you summarize?
Hope your doing well Jim....and thanks
Christina... Great post.. people should just ignore the media reports on the Real Estate Market as they are surely not talking about the local markets.
River , True. Some people live by the media / sad. Have a great week Ro
Good morning Christina,
You are so right ma'am, all real estate is local. This is something that we all to often fail to realize. We have been trying to make this point for over a year now and I think that we may be making so headway. Thank you for the post.
Great post Christina. You are so right, you can't rely on the media to tell the absolute truth. Often statistics can be used to say what ever they want them to say.
June = thanks for the re-blog.
Media not telling the truth is one thing; realtors too stupid to know what in the !@#$% they are talking about is another! I hear this all the time in my area... "Our market is picking up." WHAT??? Can I have some of what you are smoking??
Susie ~ haaaaaaaaaaa You took the words right of my mouth.
Christina - another great post! your right, Real Estate is local and Tennessee is thriving!
HI CHRISTINA!
I see why this post has been re blogged twice. You've said a mouth full! Boy if this isn't the truth, I don't know what is! Great post!