The TAR DIGEST, December 1, 2008
The news these days is full of facts, figures, and statistics about the housing market, the economy, the latest bailout, etc.
ONE item that most REALTORS surely understand may still baffle or mislead some of your consumer clients and customers. That’s the issue of “home prices” which — according to most news reports — are going DOWN in many parts of the country. The confusion comes when they confuse the rise or fall of home prices in the news with the price that a home in any community should bring on the market.
What is most often reported is the movement in the median price of homes that SOLD …therefore it’s NOT measuring how much the price of an individual home in the community should rise or fall (or its value in the marketplace). INSTEAD, what’s being reported will simply tell you which price ranges are selling faster than others!
Lately, it’s apparent that lower-priced homes are selling faster (and in greater numbers) than higher-priced homes in many areas, bringing DOWN the median price of homes sold.
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Should you have questions regarding our market, or need help buying or selling a home, I am here to help you in every way! Please call me any time on my cell at 615-812-4174.
Remember, Don't spend a PENNY 'til you call JENNY!
Office 615-826-4040 and ask for Jenny.