Do you know what's happening in the housing market?
Right now people on all sides of the housing market are researching and looking for information about what the real estate market is doing. Buyers are looking to see if they can afford their first home, or are looking to upgrade their current home. Curious sellers are interested in what their home is worth or are looking to cash in on the hot market. Investors always have their thumb on the pulse of the market. Taking steps to understand the different factors which effect the market in your neighborhood is essential when you hope to make a move in real estate.
So how do you keep track of the market?
There are hundreds, even thousands, of places which provide general information about the housing and real estate markets. Most of which provide general overviews of geographical regions such as the "Seattle Area" or "Oregon Market" and don't provide details about what the local market is doing.
Neighborhood News is a free monthly email which is customized to your zipcode. It provides real market data about the homes in your area. In the email, you'll get the bullet points about the month's stats and change from last month. Dive in deeper, by clicking on "View Full Report" in the email to get an interactive page which allows you to narrow down to your street and see the activity within blocks of your home.
- This great resource is valuable for anyone wanting to keep current on their market.
- Provides an overview of recent transactions and homes just listed.
- View full report to get details about homes in your neighborhood
For those wanting details about what your house is worth, request a CMA. A CMA or competitive market analysis is a document that a real estate broker can put together which summarizes comparable properties that are currently on the market, are pending, or have been sold. With the data from the comparable properties, your agent is able to create a range which your home is valued. Great CMA's are a powerful tool in helping you to understand what your home's current value is based on the market. Each one is custom tailored to a single property and takes many factors into consideration from square footage, location, style of the home, lot size and type, and much more. Many agents will provide these free of charge and are an extremely valuable tool.
- CMA's are customized to your property.
- Provides an estimated value for your home relative to comparable properties and the market.
- Most agents are happy to provide a CMA free of charge.