Is your City Hot or Not, Real Estate Market over priced?

As some of you would already know that, the name of this Blog is Seattle Houses, so would you guess that the Seattle Real Estate market is a hot or not? I saw a report yesterday on CNN Money real estate section, and it listed all the major cities in the US. It went on to mention, if the real estate prices in those major areas were over priced or not. It quoted an analyst I can't remember, and the numbers seem to make sense to me. You can view the article on http://money.cnn.com/realestate

Seattle was listed right in the middle as fairly priced real estate market. The report mentioned that Santa Barbara was the most over priced market? How the study was done, and how the analyst can make such a decision is based on economic factors or jobs, etc.

Even though I am just a real estate agent in Seattle, I do read a lot about economic indicators. Economics and local real estate economics are based on supply and demand. If a city or local market is short on land, you can assume that it's going to be pricey. If a city is located on a coast, as most major cities in the US are, you would assume land is short. So real estate prices tend to be higher on the coast.

Now about demand, demand is based population growth, job growth, quality of life etc. We will talk more about that next time, but would you guess, that demand is high in places such as Seattle, Santa Barbara, and San Francisco, Minneapolis, Chicago, New York City, Boston? Why, Let's see why quickly than off to dinner and the Sprout Let's grow with the kids:-) Do all of those areas have great universities, research centers, and jobs? Yes, and they also have culture based on the educated class of people who go to universities, and hence they also have good quality of life! Notice that most of the cities I picked are in the North, why? To show you that a real estate market follows, quality of life, and quality of life follows jobs, and universities.

As always do visit our website for Seattle WA Real Estate at UrbanTango.com, Our website is growing, and so is our team!