"Local" Real Estate Markets

There has been a lot of media hype of a recession and "global" downward spiraling real estate values. It is important to remember that the press make their living selling newspapers, and that being said we must keep in mind that there is a difference in "global" versus "local" trends in real estate values. The fact is, all real estate values are highly "local", for example an apartment in down town New York City or San Fransisco are far more expensive, then per say Oklahoma City or for matter a fact Fort Worth. So if you were to remove the three most speculative real estate markets (California, Florida and New York), the rest of the market is not so bad.

The Dallas Business Journal Reports that Dallas was actually named 3rd best market for real estate investors 2007. Three other Texas cities ranked in the top ten as well, including Houston at #1, Fort Worth at #6, and San Antonio at #7. One area in Dallas (University Park) actually experienced double-digit equity growth last year. So when you read "national" trends, buyers beware and do your math right. Real Estate values are very "Local".