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Garbage In:Garbage Out; How the Newspapers are Trashing the Real Estate Market, by Susan Laskin

Extra! Extra! Read All About It (But Don't Believe It!)

Once again one of our local newspapers has created a sense of anxiety by printing a sensationalistic article about the state of the current Real Estate market in Bergen County and Pascack Valley. The question, which came first, the chicken or the egg, immediately comes to mind.

The Real Estate Market has adjusted downward due to economic issues, of which we are all aware. The sub prime mortgage crisis of Summer '07 will probably make the history books, and had a significant impact on the current Real Estate Market.

However, the job of the newpaper industry should be to report the news, not to create it. Rarely do I see articles about the homes which are selling for full asking price just days after coming on the market. Yes, folks, this is happening, and more often than you think, right now in this market.

All we see are doom and gloom articles which are impacting the confidence level of the potential buyers. Great Buys are out there, ready for the picking. The buyers who are jumping into this Pascack Valley Real Estate Market understand value, and are really getting incredible buys.

A word to the wise buyer: The only way you will know that the market has hit bottom is when you missed it! Donald Trump just said in an interview last week that he believes the market will be turning around within 6 months..

Educate yourself to value, become an "Educated Consumer", and then enjoy what this Real Estate Market has to Offer!

Have any more questions? Visit my website, SusanLaskinRealtor.com

Susan Laskin #1 Sales Associate, 2007 YTD, 2006 & 2005, Coldwell Banker Residential Brokerage, 50 Broadway Hillsdale New Jersey 201-930-8820 ext.117, Direct Cell 201-615-5353. My Focus is on my Clients' Goals! © 2007 Susan Laskin.

Enjoy this blog? Read some of my other blogs including "Can This Be Indicative of A Change in the Real Estate Market?" or "Persistance is a State of Mind: How to Succeed in a Down Market"

Posted by Pascack Valley Real Estate, Susan Laskin on 10/23/2007 02:44 PM

Comments (6)

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6 Comments on Garbage In:Garbage Out; How the Newspapers are Trashing the Real Estate Market, by Susan Laskin

OCT

2007

The drive-by media is looking for something to attract attention. Newspapers are the worst of the lot, because many of them are going down the drain. And with an election year coming, what better way to create an issue than to take a sore spot in the economy and pick at it?

Thank you, Eric, for your comments. This is a very frustrating market. Just when you think things may be turning the corner in a positive direction, the papers do their number and create a state of frenzy. "There ought to be a law!!" Here's to the market turning around inspite of our friends in the media.

Susan Laskin

Lots of bad stuff out there! Keep your head up these guys are just trying to make a name for themselves.!

Remeber people are always trying to kick someone when they are down. Stay positive!

OCT

2007

Hi Richard,

These guys are only looking to sell papers..All the news that fits they'll print..What is amazing is the control they have over the buyers..Anything that is in print must be true..Unbelievable..Thank you for your kind words..

OCT

2007

Susan... the last thing we need is a law. The only thing worse that the media sensationalizing is elected officials "doing something about it." With the doom and gloom in the media, you might actually be able to talk them into a story about the turning market if you can back up the story with solid facts. They are just as lazy and the next bloke, so packaging something up might just make it happen.

NOV

2007

I've had the impressions for about the past eight years that mortgage shoppers like car shoppers want to hear what they want to hear irrespective of what the truth is. It has come as no surprise that we are faced with a credit crisis. There to my knowledge were many mortgage shops set up just to exploit the homeowners with language they wanted to hear, irrespective of what the truth was. At the same time a very loose credit market with no controls and it is just a matter of time before cows would have to come home to roost.

P.T. Barnum said it best “There is a sucker born every second”. Our current market conditions reflect such thinking so vividly. It is part of that Free Lunch mentality.

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