Google real estate and you will find a cluster of articles relating to the housing market. Depending which one you click on the housing market is either on the rise or on the decline. So which are you suppose to believe?
According to Nationwide, the month of October showed a small increase in house prices placing it in positive territory for the first time in six months. What they fail to mention is that when rates are the lowest they have been in 40 years there’s no other way but up. With that said, maybe there is more to this story? The fact is home prices are dropping drastically therefore sells are continuing to increase - especially depending on your location.
Small city’s at this time are flourishing more than others. People are moving out of the bigger cities, where there is a greater loss in jobs and moving to an area that has showed greater recovery. However, whether you are in a small or big city, foreclosures are everywhere and can be a double edged sword. One side being that finding a foreclosure deal can be especially great on the wallet. While the other side is finding a neighborhood with three foreclosures on one street can quickly turn someone away.
With such confusing statistics it can be hard for buyer or seller to know when to act. Realtors are your friend in these situations. They don’t want to put you in a house you’re not satisfied with. Or for you to sell a house at a price that will stay on the market for way too long. Realtors are there to do a job and one of those jobs is making their customer happy. Keep that in mind when you find yourself ready to buy or sell.
Finally, another hot topic when it comes to our real estate recovery is the term “normal.” Tune into a morning show or pick up your local paper and the question will be raised - when will we return to normal? Well, what is normal in the 21st century? Real Estate was on a steady pace for 30 years, which is technically abnormal. So what do we have to compare to? What we have are numbers and how many people are moving into homes and not losing them. And from this we see that maybe there is hope in sight, and with baby steps maybe we will reach our so-called normal.
About: Ann Stiles is a real estate broker for Wilkinson and Associates. She began by selling homes in New York and has over 29 years of experience in real estate. After relocating with her family to North Carolina in 2008 she continued her passion for real estate. She currently resides in the Point Lake and Golf Club in Mooresville, NC with her husband and five children.
Follow @AnnStiles
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