What is a good barometer to tell if the real estate market in my neighborhood is improving?
Posted on May 9th, 2010 in Renting & Real Estate | 3 Comments »
Brandon asked:
I know the real estate market is pretty bad. There is a house near me that is priced lower than what I would want to ask, and it has sat on the market for over a year. What are some signs that I can look for that will tell me that the market in my area is improving?
Flathead Lake Mt Real Estate
I know the real estate market is pretty bad. There is a house near me that is priced lower than what I would want to ask, and it has sat on the market for over a year. What are some signs that I can look for that will tell me that the market in my area is improving?
Flathead Lake Mt Real Estate
3 Responses
Super Foods
There are a certain number of houses that will sell in a particular price range in an average year. If you are keen with real estate statistics and know approximately what your home is worth (based on recent comparable sales near you), then you will know how many months of inventory there are. You want to sell when the inventory of homes in your price range is lowest.
Boston Real Estate
Call a real estate agent who specializes in your subdivision. He or she should be able to tell you what you need to know. It will be a good opportunity to know someone who makes their living by knowing the market.
Once a house sits on the market for a long period of time it is shown very infrequently and is not a good indicator of property values and movement. You need some professional advice.
A general statement is that some areas are showing slight improvement but that is not true of all areas. It is also a fact that with the current levels of unemployment more people are going to be unable to pay their mortgage and the loan will go into default thus adding to the inventory of foreclosures.
The truth in all of this is that we are not out of the woods yet and you better give it one to two more years.
Thermage Skin Tightening
Touch the sidewalk in any given area in your neighborhood and see if it is RED HOT!
HAPPY DAY!