Real estate success is local. While many communities across the nation are seeing home values continuing to slide, many other markets appear to have stabilized or are displaying signs of stabilizing. One day we hear good news, the next bad, but overall the big picture is much better than it has been.

What is affecting real estate the most is jobs. Where there are jobs there is typically a more stable housing market. Where unemployment rates are high, real estate prices are still (for the most part) slipping. It is a complicated cycle, we need jobs for real estate recovery and yet real estate is a catalyst for economic recovery. Which comes first, the chicken or the egg?

On the positive side of real estate recovery, today’s home buyer is making an investment that should put him in good stead. The old investment adage buy low, sell high, has never been more apropos. It is much better to be a buyer than a seller in today’s market where prices are still low in many areas because of the number of bank owned properties driving prices down.

The bottom line: If your local real estate market hasn’t stabilized yet, have patience it will eventually.

Click here to read an interesting article from the Wall Street Journal, “How to Tell if Your Housing Market Has Hit Bottom”.

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
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