The real estate market is vast. Yet the market for a particular home is far more defined. And while there is a trend among transactions in aggregate, the market for your particular property may (or may not) differ from the whole. Availability of property similar to your own will have an effect on price achievability and time on the market. It's a traditional supply/demand equation. But how do you know which direction the market is moving? How do you find out for yourself which direction things are going? We recommend that you use a website called Melissadata.com and enter your home's zip code into the appropriate field. This site is NOT a valuation tool but it will give you a total history of sold housing units by month over the last three years. You can see the volume and price trends and although property types vary dramatically within a single zip code - it will give you a volume and price movement trend. Are more houses selling or fewer? Are prices moving up or down? This site is by no means scientific in it's processes. It does not take into account new developments or changes that might have affected the volume of housing units in a zip code (like a large condo coversion) but it will answer some questions generally. You can also use the website Zillow.com to find home sales in your general area and that information can be valuable. There are also a number of real estate specific informational sites, see our Helpful Resources page for a list, to read up on trends by state and county. But all of this is just information. Helpful but incomplete. Without knowledge it's just a slightly higher refinement of just raw facts. What you get is data, what you need is knowledge and wisdom to make choices. Eisner, Feldman & Grant agents take the detailed and specific information about home sales that we have access to in our proprietary databases and apply multiple elements of knowledge to arrive at details that help you make better choices. We look at the trends for your specific property type, availability and performance of similar properties, interest rates, borrowing programs, job growth and employment trends, new developments in the area, migration patterns and additional details that affect your property's immediate market and marketing cycle. Contact us when you're ready and we'll help you understand your homes value through a Broker's Price Opinion and Market Analysis. These reports provide you with a detailed and specific analysis of the market and a strategy for selling your home. |