Depending on how you define “good real estate market”, defines how you view the market. It goes like this:
It’ a Bad Real Estate Market if
- You bought your home in 2007 and are $30,000 underwater
- You live in a newer neighborhood like Dry Creek Run where homes have dropped 75% in home value since they were built in 2006.
- You live on a street with several foreclosed homes that have been vacant for 2 or more years.
- You live in one of the many Tallahassee neighborhoods where home values have risen 5% in the past year.
- You bought a home at the 2011 market bottom, and have made $10,000 in equity since then.
- You bought your home in the 1980s and are sitting on $100,000 of home equity.
- You see homes on your street sell in 60 days or less.
How fast has your neighborhood home values been rising? Call us 850.445.2476.