Question Details

Margaret Mit…, Real Estate Pro in York, ME

What is your opinion of a local market blog, with detailed analysis of the local market?

Asked by Margaret Mitchell, York, ME Mon Jul 7, 2008

I am interested in creating and publishing a local real estate blog, with a fairly detailed analysis of what's going on locally in real estate, accessible by the general public. First, do you think this is a good idea? Second, is there a standard disclaimer/language that I can use, indicating that the information should not be copied or distributed without acknowledging the source?
Any comments or advice that you might have for me is greatly appreciated!

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Answers

2
Yes you should do it. You are referring to a Hyper local blog

Go to http://www.Agentgenius.com
or
http://www.bloodhoundblog.com
Search Hyper local.

Or the Queen of SEO Mary Mcknight at http://www.RssPieces.com, she has written a few step by step hyper local blog blah blah

Yes it is worth it, especially in your area. You really don`t have that much competition out there.
Take lots of pictures, and video`s also

Good Luck
1 vote Thank Flag Link Tue Jul 8, 2008
Mr.P, Other/Just Looking in Arizona
MVP'08
Great Idea Margaret... I hope this info helps!!

The market is a function of simple supply and demand. In real estate, supply is the total number of active listings and the demand is the total number of buyers purchasing every 30 days. (New Pending)

The total inventory... divided by the new sales... is called the monthly supply of inventory. For example, a typical market may have 25,000 homes for sale and 2500 new sales per month. That means the market has a 10 month supply of homes.

Here is what happens to prices:
0 to 1 month supply of homes, prices are rocketing higher with crazy multiple offers.
2 to 3 month supply of homes, prices are going up steady
4 to 6 month supply of homes, prices go flat
7 to 10 month supply of homes, prices begin to fade
11 to 15 month supply of homes, prices fall
16 to 20 month supply of homes, prices fall hard
21 to 25 month supply of homes, prices free fall

Remember, each price range or geographic area will have a different ratio. The higher end may be at a 18 month supply where as the low end might be at a 4 month supply. In this example... Prices are dropping like a rock in the high end and holding steady in the low end.

The key is to watch this number each month. When the monthly supply of inventory reverses direction and starts getting smaller we have reached the bottom and started to come back. Prices will not return to appreciating levels again until the inventory has "sold off" to a 4 month supply again. (2010)

E-mail me for my full report on running a real estate business in a declining market.
All the best!
Bob
0 votes Thank Flag Link Tue Jul 8, 2008
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