Real Estate is Local; There isn’t a National Real Estate Market

I find it difficult to find good information in the news media about my real estate market. The daily news is full of stories about National Housing Trends, Banking Issues and National Real Estate Trends but it just doesn't help me understand what is happening in my local Wisconsin Dells market. This misinformation is confusing local home owners and local buyers and when confused most people tend to sit still.

The problem is that I believe in Real Estate and to me the current market is offering opportunities that we may not see again in our lifetime. As a buyer, mortgage money is cheap and there is a great selection of properties to purchase. As a home owner, this may be the best time to move up to that dream home. But it is tough to feel comfortable to make a move in the market with all of the negative reports in the daily media.

As a REALTOR I have an obligation to my clients and customers to keep them informed of what is happening in the market. During my discussions I try to explain to them that it is the local market that matters. I try to monitor the pulse of the local mortgage rates and lending requirements. I find that community lenders are frustrated by the national stories because they have money to lend and not enough customers to lend it to. I track property sales by neighborhood and have found that in some areas property values have actually increased. I have also found that some properties are selling better than others. I think it is very important in today's market to prepare a full Comparative Market Analysis when evaluating a property; the market is just too complicated to take a casual approach.