Tip Jar: Don’t Believe the Hype!

Today's national headlines read that the home builder market is at an all time high, in fact has doubled since September 2011, and the housing crisis will end this year. The future certainly sounds bright. We are all ready for some good news, right? Let's just keep in mind that there is still a significant amount of foreclosures that are bringing prices down for many communities and appraisals are still coming in low. Thankfully we have historically low interest rates for those who are able to get a loan but there again, getting a loan still remains challenging for so many people who want to buy.

Our tip? Don't believe the hype! 

These headlines are attention getters, I admit, but let's take a step back. The data gathered to fuel these headlines are gathered nationally. That means the info is a collective from all of the states across the U.S. So, the market condition in your area may not reflect the national headline news.

My strong suggestion for you as a consumer, a home buyer, a home seller or just an inquiring mind, is to contact your local real estate expert to get the market statistics in your neck of the woods. Find out about the new construction projects, the foreclosures, and the recent sales data. That information will provide you with the real news.

So don't believe the hype, not until you do a little due diligence in your real estate market!

Public Enemy said it best: