The media's affect on the market

When it comes to buying and selling a home, most people are at least a little bit nervous. Then when you add in the media hype about how terrible the market is, it is a double whammie! I just wish they would quite down. I recently heard one newscaster saying that the solution to the issues in the market should come from home sellers reducing their prices. He thought if these sellers would lower their prices, buyers would be interested in buying. I must say that I do not necessarily agree. In my opinion, home buyers (and especially first time home buyers) need reassurance during these difficult times that it is okay to buy. So when the media is out there scaring them away, it's no surprise that the market continues to decline. But really, I think of it this way...when do you buy stock? The answer: when the stock drops! Well wouldn't it make sense then that the best time to buy a house is when the market is DOWN! It is an excellent time to buy, and in my area, even to sell. We are still selling houses in weeks, if not days, and in some cases even with multiple offers. It is just a matter of taking the right listings. I think we, as agents, need to start advising our communities to stop listening to all the hype in the media.