Most all Media reports regarding real estate focus on national statistics such as median homes prices and the amount of homes sold. It is definitely true that we all need to keep up on the national market, but aren't we all concerned about the market around and near us?
Each national poll is made up of thousands and thousands of markets with all different circumstances. Locally there can be many unique factors that determine the prices of homes. The local economy, government policies, taxes, and the current employment rate locally. These factors will have much more of an impact on the local market, than the national statistics. This is why you see some areas where the homes are still selling for asking price, while other areas have been hit very hard with price reductions. Be sure to contact me to understand your local market and get the most updated information.
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