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 December 05, 2007

Potential Buyers Should Be Aware of their Market
In today's real estate market, there is no such thing as a "national real estate market." Buyers need to be in touch with the conditions in their own market area if interest. Potential buyers should focus in on what is going on in the city and region in which they intend to buy. Most home buyers plan to purchase a home and stat in it for at least 10 years. Buyers that are looking to buy for the long-term should know that housing continues to be an excellent investment.
Today's typical seller purchased their home about six years ago, when the median price within the third quarter of 2001 stood at $159,100. Even though there has been a dip in the national median price throughout 2007, the median increase in value for home sellers who purchased just 6 years ago still stands at approximately 39% in nearly every market in the country.

Even in areas that are currently experiencing large declines in prices, long-term increases continue to be quite respectable.

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