All Real Estate Is Local
Friday, July 10, 2009 4 comments
Most successful Realtors know the truth of my Title (Paraphrased from ex Speaker of the House of Representatives Tip O’Neill “All politics is local”).
Unfortunately many of our clients get most of their information from the talking heads and empty suits of the mass media whose purpose is to sell advertising, with LITTLE or NO REGARD to TRUTH or CONTEXT.
They are therefore led to believe that any house can be bought for at least 20% less than a year ago, anywhere it happens to be located.
Here are a couple of facts that might be thrown into the running conversations about “How’s the market”
Over the past 10 years the average home price has INCREASED by 6.2% Nationwide.
Over the past 20 years the average home price INCREASE has been 4.7% Nationwide.
Source www.ofheo.gov
These are way below the numbers for Santa Clara County (Silicon Valley) where I live and work, and they are way above the numbers for Dallas Texas.
The Morale is “East San Jose is NOT Palo Alto. Sacramento County is NOT Santa Clara County, Southern California is NOT North California”. Florida statistics are not relevant to any other State.
ALL REAL ESTATE IS LOCAL
Glad to hear it helped. Will have a contoversial market update posting today.
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