(Lake Tahoe Real Estate Blog / June 4, 2011 / Richard Bolen)
Sensation sells headlines, but what does the Case Schiller Home Index have to do with South Lake Tahoe?
It's like a repetitive parrot… with tourettes syndrome,. the national news media is when they report about home value decline. The word's double-dip pour out unexpectedly… without thought. The media, it seems, just can't help it.
The video above is about the Case Schiller Home Price Index report that came out a few days ago; how the real estate media reported it, and the effect the report and the news media had on South Lake Tahoe, if any.
And on top of that, the media characterizes a home value decline as bad news, when it is actually terrific news for home buyers. We explore that in some detail in the video above too, and even more so in the next one coming in part 2 of this series.
What follows is the actual shooting script to the video, which is a live television broadcast on Lake Tahoe Television (Cable Channel 12), and do be sure to see part 2 of this 2-part series. It's a context we've been thinking about for some time as it relates to the news media, and the monthly Case Schiller report on home values in the top 20 U.S cities not named "South Lake Tahoe."
FADE IN ON:
Opening: Richard Bolen w microphone in hand. Behind him is a visual of South Lake Tahoe.
Richard
This is Real Estate Central from Lake Tahoe Television, Richard Bolen reporting. The case schiller index came out yesterday, and we though we’d use that as an example to discuss real estate reporting. We’ll do that in part one of this two part series, and in part two we will look at whether Case Schiller and the national news is consistent with South Lake Tahoe market reality, and if it has an effect on South Lake Tahoe or not.
Insert: Logo South Lake Tahoe Home value report.
Richard (VO)
The Case Schiller Index is reported monthly by Standard and Poor. Here’s the S & P webpage, and here’s the webpage for the Case Schiller index.
Insert: animated graphisc w text that follows the narrative. This is a chart, maybe a screen capture of an animated power point graphic, with supporting graphs and or chart(s).
Richard (V.O.)
In general, Case Schiller Index tracks housing values in the top 20 United States Urban markets. Here are those cities, and note that South Lake Tahoe is not one of them.
The report in this example cites the following key points: US home prices are down 5.1% from a year ago. Values are at 2002 levels,and home prices are down 32.7% from their peak five years ago.
What’s interesting about a Case Schiller report, is it is trumpted throughout the national news media big time. So much so that it seems to be everywhere.
The google search results here show that the report yesterday generated 1,100 news articles across the country, and it was covered by every major television news network as well.
The news media operates on headlines, and the more sensational they are, they more people they gather, and the more that folks gather, the greater advertising dollars become. The news is a people driven advertising business model indeed.
We’ll explore this, and any effect case schille has on South Lake Tahoe in part 2.
Closing: Richard Bolen w microphone in hand. Behind him is a visual of South Lake Tahoe.
Richard
For me and Lake Tahoe Television, we hope you find our real estate market reports helpful.
In the meantime, for stats, data and more details on all South Lake Tahoe real estate market conditions, check us out at the Lake Tahoe Real Estate Blog. It’s where home buyers are.
Other news spots from Real Estate Central on Lake Tahoe Television:
May 18, 2011: (part 4 in a 4-part series) Episode 4 in our Lake Tahoe Television Series about South Lake Tahoe neighborhoods.
May 16, 2011: (part 3 in a 4-part series) Episode 3 in our Lake Tahoe Television Series
May 9, 2011: (part 2 in a 4-part series) More News from Us on Lake Tahoe Television
May 3, 2011: (part 1 in a 4-part series) Yep, we're on-air Television Reporters Now.
Other videos of ours on South Lake Tahoe you may enjoy:
Apr 30, 2011: Our New Television Commercial, We Are Where the Buyers Are
Feb 11, 2011: Our Real Estate Seminar Television Commercial
Dec 11, 2010: The Lake Tahoe Weather
Dec 9, 2010: How to find and use our Bolero Button… and why you should.
Oct 20, 2010: Bijou Neighborhood video
Sep 28, 2010: A South Lake Tahoe Indian Summer
Sep 23, 2010: Emerald Bay Treetops… and a Bald Eagle
Sep 16, 2010: Walking on Water… South Lake Tahoe Style
Sep 11, 2010: Al Tahoe Neighborhood video
Comments(0)