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What Me Worry?

By Jack Lewitz

Real Estate Broker/Owner with Exit Strategy Realty

June 23, 2010 09:55 AM

"What Me Worry?" was the phrase used in Mad Magazine and I think it is appropriate here.

They say bad news comes in threes:

First, the National Association of Realtors reported existing homes sales dipped 2.2% last month.

Second, the National Association Of Home Builders shows sales of new homes dropped a record 32.7% in May. This is the lowest level in four decades.

Finally, the Mortgage Bankers Association showed mortgage applications dropped off by 5.9% even when mortgages are at a all time low.

All three indicate the real estate market is struggling after the First Time Home Buyer Tax Credit expired April 30, 2010.

Lets hope there is a silver lining somewhere for real estate in the near future.

Re-Blog

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Vickie McCartney

Maverick Realty - Owensboro, KY

Broker, Real Estate Agent Owensboro KY

Hi Jack~ It's funny that May was the best month I have had in Real Estate in years. I guess you can never tell!

Jun 23, 2010 09:57 AM

Dave Kohl

First In Promotions - Chicago, IL

Extreme Real Estate Marketing

I keep saying it. I can't believe these industry associations continue to pump out all of these negative statistics and shoot themselves and their hard working members in the foot.

Instead of reading the comparisons to last month, last year, last decade, etc., just tell the people out there how many homes SOLD during a particular month. If 5,000 homes sold during May, just tell that to the people. Then it sounds impressive and reminds them that people are buying. But, no. These associations seem to have to tell people "however, 8,000 homes sold the May before" and make it seem negative.

It seems to be such a basic and simple marketing move, but not enough people are doing it. What a shame. Thousands more people now think the market is still down. They won't be calling you or any of your colleagues for a while, yet. Thank the NAR for releasing the negative information.

Jun 23, 2010 10:03 AM

What Me Worry?

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