On a day to day basis I am just floored by the influence the media has on all of our lives. How many times have you turned on the news to see a "Special Report" on the "Housing Bubble" and the newscaster (who is sitting at a desk somewhere in the US) is rattling off housing statistics that are compiled from the NAR (National Association Of Realtors) The key word here being National. These reports always concentrate on the negative aspects of todays housing market simply because it creates fear and fear creates ratings. When sellers see these reports they get very nervous and decide the only way to compete in this market is to drop their price. And it gets worse, buyers see this report as an opportunity to offer substantially less for a home. This double whammy to the housing market is creating a downward spike in sales. All of this in my opinion is a prime example of how we visualize and move toward our future. Lets think positive!!
Hi Sean
We apparently watch the same news. However, there is an upside. As the prices drop (adjust) those previously shut out in the housing boom (middle income wage earners) will become eligible. As much as 65% of the buyers were previously shut out.
Perhaps it is time to focus on them. Many lenders are working a variety of loans and pre-approving the working class families who are the next generation of hime buyers.
I personally see the adjustment of over priced housing as a good thing. Yes we will have to work harder, but we can make money in volume. I have come to learn that Realtors who chase the pot of gold often overlook the leprechans.
Allison, I couldn't agree more. It is a real shame to see hardworking people like Firefighters, Police Officers, and School Teachers who may be just starting out in their careers and have a family to support that can't afford to buy a home because of the inflated prices. These people are the lifeline of our community and their lifestyle shouldnt be sacrificed to an inflated market.
And as far as working harder, as a Broker I am tired of seeing lazy agents who got by over the past 2 yeaars becasue it was so easy to make a buck from friends and family they knew who were buying or selling. I'm sure we both have horror stories to share about past dealings with unprofesional and untrained agents flooding the marketplace lately.
All i was saying is that it would be nice to hear the truth on the news for once and and see some positive focus, i am sure you agree.
Comments(2)