When seemingly endless statistical reports show steadily declining home values, it is essential to analyze geographic micro-markets to properly assess the value of residential properties. Although many media and data tracking sources will often cite national declines in median housing prices, a significant number of areas, or micro-markets, will simultaneously experience an increase in home values. As if the old adage of “location, location, location” needs to be repeated ad infinitum, prospective home buyers will attempt to reduce the stress and confusion associated [...] So how does this micro-market phenomenon repeatedly occur with each turn of the real estate cycle?
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