So, Is the market getting better or worse?? Post #1 of a series of 4 or maybe 5
Tuesday, February 2, 2010
O.K., first I’d have to ask you a couple of questions:
- What day are you reading this on? If it’s any other day than the one on which I’m actually writing this, the answer could be 75% wrong!
- What exact, micro, super hyperlocal market are you talking about? 5 miles away, I could be at least 90% wrong!
- What price range are you wondering about? $400K and under? $750-900K? $1MM and over? WOW, I’d have to give you 3 different answers!
- Are you asking about Single Family Homes, Town Homes, or Condominiums?
You get the idea I’m sure, it’s really pretty complicated and we can talk about each of these 4 points more in depth in future posts. Right now let’s talk about why generalizations just don’t work in Real Estate. The national news feeds say the market appears to be getting better and I can only wonder WHO they are listening to and WHERE that very enlightened person is reporting from. If they are in Detroit, they are possibly lying through their teeth! If they are talking about Silicon Valley, Single Family Homes listed under $400,000: BINGO! They are right on the money! So, nationally you cannot make that kind of blanket statement.
Let’s bring it home a little bit more and listen to what they are saying about the California Real Estate Market “Most California real estate markets have already hit bottom”. Makes me wonder where this person bought their crystal ball? I hope they kept the receipt! Depending on what part of California we are speaking of, MOST markets, have not even heard, much less seen the giant whose shoe is going to be the next one to drop…..
In the next post we will examine our local market more closely and expand more on the shoe industry- nos vemos soon…