Why You Should Ignore Trends In Real Estate

Why You Should Ignore Trends In Real Estate

Why You Should Ignore Trends In Real Estate
Many people tend to​ get caught up in​ real estate trends reported in​ magazines, newspapers and​ on television .​
This is​ a​ mistake of​ the​ highest order.
Why You Should Ignore Trends In Real Estate
In this modern information age, you can learn just about anything on a​ particular subject .​
While access to​ information is​ usually a​ positive development, things can get a​ bit crazy if​ you get overloaded with it .​
Look long enough and​ you can find two pieces of​ information offering exactly the​ opposite views on a​ subject .​
Obviously, that doesn’t really help you make a​ choice .​
In real estate, the​ information offered in​ the​ media is​ usually uniform .​
For the​ last six or​ seven years, everyone with any brains at​ all has reported the​ real estate market has been hot .​
Now, many of​ these same pundits are suggesting the​ market is​ cooling off .​
Some are even predicting a​ crash in​ the​ market .​
As a​ potential buyer or​ seller, how should you evaluate the​ information being produce in​ the​ media? the​ simple answer is​ you should ignore it .​
The problem with these reports is​ not the​ accuracy .​
Instead, the​ problem is​ they are reporting national trends in​ real estate .​
National trends are great and​ all, but they have little or​ no application to​ your specific area .​
Consider the​ following if​ you do not believe me .​
The real estate market for​ the​ last few years has been reported as​ hot, hot, hot .​
In Colorado, however, the​ market has been flat throughout this time .​
If you were considering buying or​ selling in​ Colorado, the​ information being provided for​ national trends simply did not apply to​ you .​
If you think Colorado is​ the​ exception, it​ is​ not .​
The state with one of​ the​ worst appreciation rates over the​ last four or​ five years, for​ instance, has been Texas .​
Put in​ practical terms, this means homes in​ Dallas, Houston, Denver, San Antonio and​ Houston have not followed national trends .​
The only real estate trends that matter are those in​ your local markets .​
Never rely on national data .​
If you are considering buying, you have to​ be very careful when considering real estate trends .​
If it​ looks like a​ seller’s market in​ your area, you may make the​ mistake of​ not buying .​
Even in​ a​ seller’s market, buying a​ home is​ better than renting .​
Every day you are in​ the​ home is​ a​ day you are growing your personal wealth through equity accumulation .​
Don’t stay out of​ the​ market simply because you feel it​ isn’t the​ right time .​
It is​ easy to​ get caught up in​ real estate trends since they are plastered in​ front of​ your face on a​ daily basis .​
In truth, they really should not play much of​ a​ role in​ your decision making process.

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