Positive Real Estate Professionals

One of the main points that is lost among all the stereotypes and generalizations that much of the mainstream media perpetuates is that markets are down or falling everywhere. This is simply not true. It is impossible to make a statement like that with any basis in fact.

The most obvious thing that makes such statements incorrect is that all real estate really is local. In fact, there is even evidence that real estate in some areas is hyper-local. Let me explain these terms and how they make your real estate market unique.

What is meant by all real estate being local is that it is impossible to compare a market like Des Moines to a market like Charleston in any but the most superficial way. Factors that impact Charleston, like tourism and the beach, will be much less relevant in Des Moines. The things that make a locale unique and attractive are the same things that impact the real estate in that market. These qualities will vary as will the performance of that areas real estate market. Generalizations by their very nature are incapable of factoring in these things.

Another reality is that in large markets, and some small markets, there is a noticeable difference between real estate performance among suburbs, communities, and neighborhoods within one area. This is an example of hyper-local real estate. For example, a waterfront community may have far different property values than a non-waterfront community within the same city. So, when you hear all that the sky is falling, be sure to look outside to see if the sky in your area is falling or if this is just another example of media hyperbole.