With all of the noise and advice about short sales and foreclosures, it’s easy to lose focus on the fundamentals of house value. If a buyer wants to come out with a sound investment at the end of this downturn he best pay attention to what has always affected real estate.
When shopping in this market it’s best to look at a variety of possibilities but keep in mind that location is number one!
There are houses in the market that whould have sold for $500 that now are not worth $300k because they have a view of SR 14. Don’t be tempted by price if the location is a problem. When we come out of this market and values begin to rise, you will still be the last to sell, and you will not see the appreciation that everyone else is getting because you ignored the fundamentals. A bad location is still a bad location no matter the market conditions or the price.
And now for the self serving comment: The people at Scott Mikel and Associates suggest that you “Ask your Realtor”.
