By Dennis Yen
Today's news really gives us mixed signals about the real estate
market. Some say real estate is flourishing and some say that it
continues decline. The fact of the matter is that there are quite a few
angles from which you can view the real estate market. It isn't simply
prices and loan rates, as most people like to report. It's much deeper
One important angle, and the focus of this article, is
that real estate ought to be looked at through a regional perspective.
Even in a city, each neighborhood has its own characteristics. Some
neighborhoods have families that have lived in their homes for more than
20 years, other neighborhoods have homes that are owned by investors,
others have young families just moving in... you get the picture.
Because each neighborhood is so diverse, the general outlook of the
city's perspective may not do justice to the individual gems that are
hidden within it. Not all neighborhoods have foreclosures or short
sales, or other transactions that could reduce the property value of the
neighborhood. A little bit of research, or the help from your real
estate agent, can help you determine the state of your neighborhood, or a
neighborhood into which you would like to move.
perspective on the regional market outlook can make a huge change in how
one perceives the market, as a whole. Keep in mind that despite all
that doom and gloom that we are hearing about real estate, transactions
continue to occur. First time home buyers are taking advantage of home
and loan pricing, and open houses continue to grab the attention of many
prospective buyers; from investors to homeowners to home upgraders.
People are upgrading from smaller homes to larger homes. By that same
token, some folks are moving from larger homes to smaller homes, as they
age and look for more simplicity.
There are plenty of reasons
that people buy or sell a home. Despite the market, these reasons still
exist, and dreams of home ownership continue to be fulfilled. What we
hear quite a bit of in the media is how housing starts are low and how
people are losing their homes, and the media is coinciding home losses
with the lack of home sales. Economically speaking, when a homeowner
loses the home, that is one less home that needs to be built, right? So,
if many people are losing their homes, then it follows that there is no
need to build more homes, as the inventory is still full. That does
not, however, mean that home sales have stopped. Make no mistake about
it. In some areas of the United States, real estate is going strong.
Admittedly, in other areas of the United States, real estate is not
doing too well. Again, this goes back to a regional perspective of real
estate.When it comes to choosing a professional to assist you with your real estate needs...Experience is Priceless!