Real Estate is Hyperlocal | Neighborhood Specific, not National
Chicago to predict it? Of course, not! Who cares what is happening in Ohio if you live in Colorado? Or New York if you live in Houston, Sugar Land, Katy or Richmond, TX? Even north Houston to south Houston can have a differential of rain vs. sleet.
Inside each city you experience a more local version of the market. However, here in the Houston local you have master planned communities and whole subdivisions that differ from each other. For instance, in the Chicago real estate market, there are enormous shifts in sales prices and activity throughout the different areas of the city. Just as it does from Kingwood to The Woodlands to Cinco Ranch or First Colony. Telling me that my house won’t sell in Houston based on the entire city or a national statistic is nuts. You need to know what is going on in your neighborhood. You need a local REALTOR to pull sales data and show you current trends that affect your property. The evaluation needs to compare apples to apples i.e. one story to one story and should also include data of similar age, size and neighborhood amenities. The location and proximity to local shopping, medical facilities and areas out of the flood ways are all key factors in evaluating a house for sale.
I’ll close by saying that Real Estate Experience is not Expensive – it is Priceless! I have sold real estate in this area for over three decades so my experience level is high… #MartiP #realestate #sellahouse #buyahome #buyersagent #sellersagent #thereisadifference #harriscounty #fortbendcounty #sugarland #richmond #katy