Home Price vs. Home Value

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Although the median sales prices of homes has increased approximately 19% from 12/2011 to 12/2012; this statistic can be a bit misleading in terms of the value of ones home.  In fact, the value of homes have only increased about half as much.  The actual sales price is being driven up due to low inventory and the subsequent multiple offer situations and their escalation clauses for clients willing to go above asking price.

To read more about the interaction between these two values and its effect on the market, you can read the full article here >>