What is the first rule of real estate? Location! Location! Location! In any market this holds true, particularly in a downturn market people are looking to make wise real estate purchases and location is always the key!
These days with higher gas prices people are looking to location, in particular location in relation to their job as a deciding factor in their real estate search. Also job creation and loss figures at a local level are under more scrutiny as people are relocating to where there is work in the nation – with Dallas posting the highest number of job increases and Detroit one of the largest dives people naturally are moving to where they can work. This creates pressure on the local real estate market and of course fuels demand and fuelled demand can eventually lead to a run up in prices.
Interestingly when housing becomes more affordable, the number of sales increases – a trend which we are starting to see nationwide right now. In 2008 there has been an average of 6% decrease in the average price nationwide, this could mean a potential 4.3% price rise in 2009!
In New Albany and the surrounding real estate market there is stability, a great local economy and a great lifestyle!
If you are thinking about purchasing your dream home in New Albany or the surrounding Central Ohio communities then contact the Raines Group for professional Real Estate advice.