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Real Estate Statistics 101

March 14th, 2008 categories: About this Blog, For Buyers, For Sellers, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe Statistics

Real Estate statistics 101There is a difference from one market to another.

There will be four subsequent posts on this subject, which is not statistics per se, but reports from the National Association of REALTORS®  (NAR) about how much more money a REALTOR can get selling a home than its owner. This is the set up for those to follow.

The one thing we write about most on this blog is hard market data about the real estate market on the South Shore of Lake Tahoe specifically. That is the primary focus of this blog: to provide the public (you) with real time South Lake Tahoe real estate information 24/7.

Second to that, it seems we are also quite often doing articles that compare national real estate news with current South Lake Tahoe trends and conditions. Much of the substance of these discussions include statistics, especially when showing the difference between what we all hear and read on the news and real estate reality here.

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Other than your local real estate statistics, and those that that come via the national news, there is also a flow of US real estate statistics that comes out of the National Association of REALTORS® (NAR).

BAD statistics don't help anybody. It has been our experience that some NAR statistics are spot on. Especially those that reflect buying behavior, who buyers are, their characteristics, and the sources of information they use to look for a home they intend to purchase. We use these such statistics much of the time. They are discussed in our real estate seminars, and often form the foundation for our campaigns to market a particular house.

Like many of the national real estate news pieces that all of us see, there are also NAR statistics that do not apply to South Lake Tahoe, primarily because “all real estate is local.” This phrase is real estate lexicon and it simply means that real estate trends and conditions are often quite different from one market to another.

There are also statistics that come from NAR that leave us scratching our heads. We just don’t know how they got them, or where they came from. When this occurs we always let you know, and these usually have to do with NAR painting a rosier real estate market picture that what it appears to be.

This is very much the only real problem with have with NAR reporting. It is a national professional association, and like all of them, they have a responsibility to provide for the best interests of its members. In the case of NAR, that would be us.

Sometimes though, a national association can be over eager to promote its members. When NAR does this, at least you know why. But one always has to be careful when reading statistics, from any source. The problem isn’t statistics. The problem is BAD statistics. And we are always on the lookout for them.

Here is a recent article from NAR that discusses this subject. We thought you would find it interesting.

It has to do with the fact that a REALTOR® will normally get a higher price when selling a home than if the homeowner sold it themselves. This is the concept we will be exploring in our next four articles.

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This entry was posted on Friday, March 14th, 2008 at 3:57 pm and is filed under About this Blog, For Buyers, For Sellers, Lake Tahoe NV Statistics, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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