How is the Baltimore real estate market looking for 2014?
That is a very good question, and one that is not easy to answer.
There is much confusing information out there as to the “rebounding” real estate market, or how prices are “soaring” or “slowing,” depending on which article you read.
And the truth is — IT DEPENDS.
It depends on which neighborhood in which your home is located.
It depends on what is happening in the area around your home.
It depends on the condition of your home — as well as others.
It depends on so many variables that no one report can answer that question.
The above picture is a great example of the confusion even one report can cause. The two headlines came out about the same report, the S&P/Case-Shiller home price index. CNNMoney states that prices jumped 13.6%. Meanwhile, the Los Angeles Times take on the report is that home price increases slowed. Both may be true, but it makes the news very confusing to follow.
Real estate values are very local. These articles show that to be true! Sometimes real estate values can vary street-by-street – even within a neighborhood!
National real estate news, in general, does not affect your home’s value. I cannot stress that enough!
To find out your Baltimore house value, please contact me. I’d love to help!