This morning on Twitter I saw a tweet saying that foreclosures have decreased quite a bit over prior data. But the tweet right next to it was about how defaults have increased. Most of us in the industry are aware of trends and realize that there are several factors at work that make both of these seemingly-contradictory items true.
But depending on how each story is presented, it could be perceived as encouraging news or discouraging news for the real estate market. So almost any news item about the state of real estate needs to be read carefully. It might contain only part of the story. I remember how last year there was gloom and doom about how sales were down in the months immediately following the expiration of the first-time homebuyer tax credits. The news was highly expected, yet this negative news seemed to dominate media outlets when it was released.
We need to look at the headlines, but we can't stop at the headlines. We need to read the story and see just what is is and is not saying. And we shouldn't be surprised when people react to the headlines instead of the whole story. The public has an increasing awareness of robo-signing thanks to 60 Minutes, but they might not be able to put the pieces of the puzzle together as well as those of us who closely follow news that affects the real estate industry.
For homes in Carmel Indiana (new homes, resale homes, foreclosures and short sales) contact me or visit my website about Carmel Indiana real estate. While national trends can affect markets around the country, the Indianapolis-Carmel Indiana real estate market has a recent history of being one of the most affordable areas in the country.