The Real Estate Blog

What's happening in our market?

July 5th, 2011 1:39 PM by Wendy Thomas

I'm sure you've seen the commercial for the National Association of Realtors, stating that "every market is different. Contact a Realtor in your area".... Do you believe that?  You should, because it's absolutely true!  It makes me crazy to have a client who may live in California or Texas, or somewhere far from here, who has a house listed in this area (or is buying here), and they quote some national news source regarding home prices being down "40%".  I don't know about you, but I can promise you that my house and all that I have listed are worth way more than 60% of what they used to be worth!!  It's the national news and their perception of what's going on in the market that hurts our local real estate community.  Yes, in larger areas or specific areas, values may be down that much, but a lot of the reason is because prices were probably that significantly inflated to begin with! 

I know that values are down, and yes, in our area, they are as well. But we are not as bad as many other areas of the nation, and I just want to get the point across that just because the national news says one thing, it's not necessarily true for our area.  I have to spend a lot of time negating this information, and proving to my sellers the right price for them to list at, and to buyers, why an offer of 60% of the list price is unacceptable, and if buyers and sellers would allow me to help them become more educated on our local market from the beginning, I could spend more time on marketing their homes or finding them new ones.

If you want to keep up with the national news, please do. However, before you buy or sell in York County or even in SC or NC, talk with a local Realtor and get the facts based on what's been happening in our local market.  There are some of us out there who still love what we do, and who focus on the facts and figures, and can keep you updated better than anyone else out there.  Our market is not the best and there's always room for improvement, but we are on the upswing, and preparing for a great second half of the year, leading into a phenomenal 2012. 

Posted in:General
Posted by Wendy Thomas on July 5th, 2011 1:39 PM

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