I'm a news junkie. However it seems, for whatever reason, that no matter what real estate news article I read the bias is ALMOST ALWAYS negative. It's as if the reporters out there can't find a bright spot anywhere. If I were a consumer, it would be really hard to justify buying or selling a home when, based on the news, it appears that prices all across the country continue to drop and there's no hope in sight. Foreclosures subsiding? No! Short sales easier? No! Prices rising? No, no, no!!! But here's the thing - that's not true. In many places foreclosures are subsiding, prices are rising, and short sales are easier.
We need a Crusade of Truth. The truth is that in the San Francisco Bay Area (it's own little real estate world) and Silicon Valley in particular, we have many markets up this year. Somes of these micro-markets are up substantially in both sales and prices. So, why is it that when I read about real estate sales in the local paper or on the TV all I hear is "Silicon Valley prices continue to drop"? The truth is obscured by the reporters who only focus on sensationalizing what's happening. Plus, I think they all can't seem to be happy. It's not in their blood. Are you on board with my Crusade of Truth? I hope so. The recent contest on Activerain asked members to talk about the "Real Estate Recovery". In those articles were plenty of signs that markets all over the country are actually doing fine.
There was a report by NAR that presented recent dip in July sales and prices but put it in perspective by showing that year-over-year sales and prices were up and that overall in 2011 these figures are up. WOW!! A news report that is actually, sort of, positive. They put the short term, minor bad news into perspective and showed that, in fact, the real estate market is doing better. Did that news get coverage from all the TV stations and other media outlets? No. It got drowned out by more bad news.
Here's what I propose we do with the media:
- Find the bright spots in the local market
- Call the reporter(s) who write for your local paper or TV news
- Tell the reporters about the bright spots and back them up with facts (MLS data)
- Make sure you get quoted
We have a million members in NAR and over 200,000 people here on Activerain. It's time we got the truth out there. The public needs to know about the bright spots. If they do, the sentiment on buying and selling will change. Consumers need something good to pull them out of the funk the media has put them in. Let's do it!
UPDATE: I sent messages to 4 local TV stations and several local reporters asking them to do a report or series on the bright side of the local real estate markets. More news to follow!