Is it really that bad?!?

With all the gloom-and-doom articles out there, it’s pretty hard to feel confident about (fill-in-the-blank). In particular, real estate. You cannot go one day without seeing some sort of article about how bad things are.  Is it the best time to sell a house?  Maybe not.  Were there still over 2600 people that have successfully sold a home (single-family, condo, multi-unit) in NKY over the past six months?  Yes. 

The best advice I can give is to not pay attention to the national news media, and get in touch with a local real estate professional to give you up-to-date statistics on what is going on in your neighborhood.  You wouldn’t pay attention to the weather forecast for California to decide what to wear for the day, would you?  Why pay attention to their real estate market when it has nothing to do with whether or not your home will sell?   A successful home sale is still based on the same things: your asking price, your competition, and how well your home has been maintained.  Period.   The number of foreclosures in Tampa FL will not affect how quickly your home sells.  I promise.

Even some of the national media postings are contradictory.  Take the following graph for example.

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They’d like to have you believe that the little tail at the top of the graph indicates the end of the real estate world as we know it.  What they don’t take into account is the bulge that threw the entire scale off…  Everyone in the industry knew, even if they didn’t want to admit it at the time, that the boom couldn’t last forever.  But what does this graph really show?

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It shows that we’re actually right about where we should be if you take out the egregious influx that we experienced.  As with anything you read, please take the national articles with a grain of salt.  And I’d like to reiterate, the most important and relevant information you can attain is from a local professional. 

For more on Northern Kentucky real estate, please visit my site at www.NickDailey.com.