This informations is as valid today as it was when it first appeared.
Gary Keller: “The only market that matters is yours!”
Gary Keller: “The only market that matters is yours!”
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Don’t be alarmed by all of the media hype. We hear so much gloom and doom from the national media that it is difficult to understand what is true and what is designed to merely get and keep your attention. Much of this is picked up by local media and presented without qualification.
On the Today Show, during an October 2007 segment on the national real estate market, CNBC’s Jim Kramer uncompromisingly stated, “now is the absolute worst time to buy!”
Here’s what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current market, and it is as true now as it was then:
First, residential real estate is not a national market product — it is a local one. To say from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees — it is a useless and irrelevant perspective. What is happening in your local market is all that matters.
Second, trying to predict when it is a good time to buy, or not, means you’re trying to time the market. Staying on the sidelines is the surest way for most people to never time anything correctly.
Last, and maybe most important — there are always two markets in every market. There is the market of properties that are good buys and there is the market of properties that are not good buys. Interestingly enough, this is true in either buyer or seller markets. To categorically say that this is the time to buy (or Sell) or not is absolutely ignoring the fact that every market really has two markets inside it.
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The Dayton Metropolitan Area housing market had a record year in 2006 and is off only slightly from that pace in 2007. We at Team Jones3 have received, arguably, the best training in the industry. We study the local markets and evaluate the data personally. We don’t compare our market to California or Florida or even Cincinnati. No more than you can compare Dayton View to Brookville. Every market and sub-market is unique to the characteristics of that area. Property values in each community are impacted by items specific to those communities like taxes, schools, business growth or decline and planned community development to mention just a few.
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Let us help you to understand and succeed in YOUR market. Call anytime.
Real Estate Consulting to the power of THREE
Jim, Diane and Vincent Jones 937-478-6519
