Gas Prices Differentiate Neighborhood Values
The recent spike in gas prices reinforces the primary tenet of real estate, location, location, location. Right now people who bought great “houses” out in the suburbs are realizing that even granite counter tops can’t compete with a good location. Little old tear downs close to the Twin Cities are holding their values better than any of the fancy new luxury homes stuck out in the country.
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While some outlying neighborhoods with strong community amenities are faring well, the prices of the great majority of the cookie cutter homes built during the recent boom are falling faster than a paralyzed falcon. This is a great reason to make sure that choose a realtor who has been in the business for a while, realtors with staying power like Jeff Lundquist of IGotRealestate.com have seen market ups and downs and advise clients based on sound principles not media hype.