Are Real Estate Prices Local or National?
July 24th, 2008 categories: Liberty Township Ohio, West Chester Ohio
When you put your home up for sale in West Chester, Ohio – did you or your realtor compare real estate pricing for homes in Miami, Florida or Phoenix, Arizona?
No!
Most likely- you looked at a CMA (Competitive Market Analysis) for West Chester, Ohio. After all, buyers shopping in West Chester or Mason or Cincinnati Ohio are comparison shopping in the local area.
Take a look at a discussion on the “Morning Joe” program on MSNBC featuring author Jim Cramer (Author of “Stay Mad for Life”) who has some very positive words about the real market and suggested he will be buying some property soon. However don’t be alarmed by Mr. Cramer’s statements concerning real estate prices in Florida.
Remember the housing market in Miami and Daytona Florida is unique and should not be compared to “local real estate” in southwestern Ohio. Too many of today’s news stories/articles are written from a national perspective and aren’t accurate about our local real estate market.
If you are ready to jump into the real estate market- as a seller or a buyer- use recent data from the local Multiple Listing Services and county Auditor sites to determine pricing.
Not sure about the local real estate market- call or email more information. Or subscribe now and stay up-to-date.
Related Articles: What the Toledo Blade Doesn’t Know
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Your exactly right! It is crucial to look at the housing market for your specific area. Market trends are usually affected by local prices and local business. As in Phoenix, the housing market has gone down quite a bit because of foreclosures and right know is a great time to buy!
Well our local newspaper’s “above the fold” article this morning was all about the bad market. Unfortunately they look at overall MLS stats and do not ( or cannot) look at counties or areas that are doing ok. Oh well- this too shall pass.