Monday, June 05, 2006

Location, Location…It All Depends on Where You Are

In today’s InmanNews, the real estate news service, Janis Mara had a very good article about the differences in the real estate market around the country. Whereas in Baltimore it is a good market for first-time home buyers, Californians are seeing a very different market - not many first-time buyers in Baltimore hope to find something for $900,000!

The answer to, “What’s the market like for my house?” is, as you might guess, “It all depends.” It depends on where you are and what the trends are in your area. Some places like Baltimore have a good inventory of homes for sale which makes it a great time to be a buyer. With fewer people competing for houses, it’s not necessary to pay more than asking price or waive any important steps like a home inspection.

My friend Linda DeVlieg in Albuquerque said it best: "It's a challenge and I think the consumer has to be more educated and work with an agent who is also educated…." Whether it’s a buyer’s or seller’s market, it can seem like a jungle. Take the time to find an experienced Realtor to guide you safely through.

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