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1. Know The Local Market
Yes, we've all heard it in the news - on T.V., on the radio, in the newspaper,
on the internet, etc. While the real estate market has been very stable for a
number of years, we now hear about the dreaded "National Bubble"
Well, before we go too far, let's make this point up front –
There is no NATIONAL Bubble. Period.
Yes, it makes dramatic news and catches everyone's attention, but buyers,
sellers, and investors should be aware of what really drives housing prices
(and real estate values in general).
We do have certain areas (such as west coast, Las Vegas, Phoenix, Florida,
etc) that have experienced significant price increases (a seller's market) and
are now experiencing price corrections (heading toward a buyer's market).
But that comes and goes, in cycles. More importantly, what actually drives
prices and values.
Imagine the MACRO Level as the red outer circle of a Target. It contains all
of the National influences, such as:
Inflation rate
Interest rates
IRS tax laws
Think of the METRO Level as the white middle circle of a target. It contains
all of the City influences, such as:
Population growth
Employment growth & stability
Household income
Zack Wiest
PaDEals.com
717-901-7763 Ext. 300

2. Picture the MICRO Level as the red inner circle - the bullseye. It contains all
of the Neighborhood influences, such as:
Age, Density, Development, Permits
Social economics, schools
Availability of land / housing
The actual Price of real estate and housing can be driven by any or all of
these factors. But, when assessing the market, be sure you look at which
INFLUENCES are truly affecting Price, and in what Location.
In today's market, the National (MACRO) influences continue to be very
stable. The City (METRO) influences vary, depending on where you buy, sell,
or invest. The Neighborhood (MICRO) influences are always changing and it
requires hands-on Local knowledge and experience to spot the emerging
opportunities.
AIM at the Bullseye!
It might be tempting to think or say the overall health of the
industry is weak. But, that is too generalized of a way to look
at it. Some might be tempted to say the opposite - that the
overall health of the real estate market is wonderfully strong
and stable. But, that too is over-simplified.
The REALITY is it depends on all the factors at all levels. Based on these
factors, some areas will be good opportunities to lose money - so don't buy
or invest there! Yet, other areas will offer exceptional opportunities. Does it
need to be said!? Yes, BUY or INVEST THERE!
Does this all make sense?
Real estate is a dynamic, look local market. So buy or invest that way, too -
where the local markets are favorable!
Log onto PaDeals.com right now to be part of the most exciting real estate
opportunity found anywhere.
Zack Wiest
PaDEals.com
717-901-7763 Ext. 300