National real estate stats are useful, but it’s important to focus locally
The real estate market has experienced some good news of late. Last week, it was reported that new home starts were on the rise. This week, sales of existing homes have blossomed a bit as well.
These are great signs to see, of course. But for some of you out there, we can understand if they lead to confusion. After all, isn’t today’s market full of scandal and vagaries? Well, yes and no.
On the whole, when factoring market data into the decision to sell or buy, it’s important that you stay local. That is, look into data for your particular region of the market, often drilling down to your very street. In the simplest terms, some neighborhoods sell better than others, even if close to the same set of regional amenities. A lot of the little things really add up; everything from ease of access in and out of the neighborhood to how close the walking trail is to your driveway can make a difference in price.
This is one reason why we started our “Living in…” series here on Ann & Amy’s Neighborhood Journal. We hope to help you understand the nuances of individual residential neighborhoods in towns and cities like Cary, Apex and Raleigh.
As much we hate to drag out this old cliché, real estate is all about location. Even in markets like Detroit or Las Vegas, for example, which have been hit severely by the recession, there are still areas that are popular, selling in substantially less time than others just around the corner. However, since real estate data is often calculated, and then reported nationally on a macro-level, it becomes hard to discern the pockets of success within areas that may interest you.
Our point is that we will always help you drill down into the specifics of your sale or purchase to help you make the absolute best choice. And, we’ll use localized information to arrive at the best possible price, whether you are selling or buying.
We feel that sometimes mass-market statistics can send the wrong message to homeowners. To exercise another cliché, sometimes it is important to see the trees within the forest. Especially in the fall, when the leaves are really pretty. (Sorry.)