Buyers need to understand real estate is local. They have to know what is going on in their market specifically, not what's happening nationally.
Austin, TX (PRWEB) January 17, 2012
Homes.org announces one of the latest additions to their real estate resources, a quick guide to measuring the health of real estate markets. Given the current state of real estate markets across the country, some of which are recovering while others haven't yet seen much improvement or remained steady throughout the recession, real estate professionals stress that it's more imperative than ever that home buyers understand all real estate is local and in order to buy smart they must known how their market is fairing.
In fact, understanding that all real estate is local is the first lesson of the guide. Eric Bramlett, owner of Austin-based brokerage One Source Realty, told Homes.org, "buyers need to understand real estate is local. They have to know what is going on in their market specifically, not what's happening nationally." In larger cities buyers should get more granular and measure down to the neighborhood level which can vary greatly from one area to the next.
Other information featured in the guide includes:
- Explanation and importance of a balanced market.
- How the lending situation effects the health of a real estate market.
- Understanding of how appreciation potential affects a market and the influence to buy.
- In depth look at ratios that can help home buyers measure the health of their local market with actual statistics.
Understanding how your own local real estate market is fairing is something that all home buyers should be aware of before they start searching for a house. Inventory, activity, the percentage of the sales price that the home is actually sold for and the local economy are just some factors that can make a market more buyer friendly or provide opportunities for good investments. The quick guide will give readers an overview of the type of things they need to be considering in order to gauge the current situation in their own market.
Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.
About Star Nine Ventures®
Star Nine Ventures® is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine's core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.