Be Careful About What You Read In The Newspapers

As active Realtors in Toronto, we’re often asked for our input on what’s happening in our local real estate market.  Sometimes people are reading the doom and gloom stories about foreclosures in Miami, Las Vegas and parts of California and thinking that we’re in for the same thing.

Fortunately, that’s absolutely wrong!  See an earlier POST of mine about why the real estate market situation in Toronto is totally different from those specific US cities.

A rallying cry has been sounded by many US real estate professionals in other markets, too: that their local real estate markets are unique, and reports of national market trends in local publications tend to overlook the fact that markets in many US cities are performing better than others.

In fact, average sale price stats from throughout the US show that the majority of communities are doing just fine, with positive, low-level appreciation.  They’re complaining, just like I am now, about being ‘tarred’ by the same brush as the more foreclosure-prone US communities.

Remember, looking at local market statistics will give you the information you need to make a wise buying or selling decision.

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