Seeing the forest and the trees in real estate
Sourced through Scoop.it from: sacramentoappraisalblog.com
Seeing the forest and the trees in real estate by Ryan Lundquist. Look at more than 12 months of data
My comment: Great Point, Ryan!
Yesterday, I was completing a SMART Appraiser history graph of median sales price showing +7.8% gain over the past 12 months for sub-market. But, I knew better in this particular market, looked at an 18 month chart of same and saw where even with the +7.8% increase of recent, this market was still down 18.9%. It would have been mistake to apply a time or market adjustment for increasing prices when this market is still so battered from correction. A historical perspective points out the obvious, ugly or positive.