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Buying A Home – Interpreting Media Reports About The Real Estate Industry

By Sarah P. Shimanski

How often have you observed newspaper headlines announcing that property selling prices fell 10% during the finals months of the previous year, or maybe how property selling prices have risen 15% over the most recent three months. Although these statistics may get your attention, don’t rely on the accuracy of these facts. In quite a few instances, these figures are way off from what’s really happening within a neighborhood’s current market.

When the neighborhood newspapers and magazines publish the adjustments to residence values, they’re incorrectly referring to median selling price numbers. It’s essential to know the median current market value doesn’t offer insight into whether a property appreciated or depreciated in value. The median only establishes the price in which half of the properties sold below this cost and half sold for greater.

In the real estate cycle when most homebuyers choose lower priced homes, the median will drop. In cycles where higher end buyers commence to invest in homes, the median value will improve. You can find out what price group within the current market is most active by searching out the median value figure. This number won’t reveal if the value of listed properties are going up or down when compared to the median. Just because you hear news reporting a rise in median value for a community won’t tell you if properties actually appreciated. You would have to evaluate the sale-resale facts for comparable houses.

By incorrectly linking changing median selling prices with appreciation or depreciation confuses quite a few homebuyers. Quite a few times homebuyers have mistakenly believed property selling prices were falling when they were really rising.

It’s important for you to evaluate property pricing carefully. Property price ranges may truly be appreciating slower than what appears to be an increasing median price. As a sluggish economy makes its rise to a complete recovery, move-up homebuyers will get back to perusing the real estate marketplace. As upscale buyers begin to acquire high end properties, the median price could shoot up as high as 15 to 30% more. Even so, without having researched the sale-resale value information, you could incorrectly assume that home rates actually jumped that much.

To recap what we just discussed, make certain you aren’t misled by media reports of median costs. Be certain to perform your own study and analysis of properties and neighborhoods. Seek the services of a trained real estate agent to guide you through the existing condition of present residence prices and where they’re headed for certain kinds of properties. By working with realistic facts as an alternative to unreliable averages, you’ll boost your odds of maximizing profits from each property.

Are you trying to search through homes for sale in Huntington Beach? Use these local Huntington Beach real estate agents to help you find one.

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Article Citation
MLA Style Citation:
Shimanski, Sarah P. "Buying A Home – Interpreting Media Reports About The Real Estate Industry." Buying A Home – Interpreting Media Reports About The Real Estate Industry. 22 Aug. 2010. uberarticles.com. 20 Dec 2014 <http://uberarticles.com/real-estate/real-estate-fsbo/buying-a-home-interpreting-media-reports-about-the-real-estate-industry/>.

APA Style Citation:
Shimanski, S (2010, August 22). Buying A Home – Interpreting Media Reports About The Real Estate Industry. Retrieved December 20, 2014, from http://uberarticles.com/real-estate/real-estate-fsbo/buying-a-home-interpreting-media-reports-about-the-real-estate-industry/

Chicago Style Citation:
Shimanski, Sarah P. "Buying A Home – Interpreting Media Reports About The Real Estate Industry" uberarticles.com. http://uberarticles.com/real-estate/real-estate-fsbo/buying-a-home-interpreting-media-reports-about-the-real-estate-industry/


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