The Media Needs To Stop Promoting Bad News About Real Estate

     Everywhere you turn it's common to see another report or article from the media about how bad real estate is.  It has gotten to the point where buyers and investors are being affected by these reports and thus creating a low point for buyer's confidence and buyer's spending. 

     This has put the real estate market in an awkward position.  I remember back in November of 2005 when real estate seemed to hit a brick wall, the media was coming out with reports that said that the city of Orlando and its neighbors were in the midst of a tremendous boom.  The information that they were referring to was from the second quarter of 2005 when the market had peaked.  The information was old.  It was not up to date.  When sellers asked me about the market I would tell them that the market had hit a lull to say the least.  Most sellers at this point were hesitant to believe me because everything they read was to the contrary.  So they continued to insist on listing their houses for higher amounts thinking that they were still in the midst of an economic boom.

     Six months later people began to realize what I had been telling everyone.  The market was well on its way to a correction.  Today I hear and see the same mistake by the same sources reporting news that is outdated.  The market is not as bad as the media makes it to be.  I'm not going to sit here and convince people that the market is picking up, but I will tell you that it is a great time to get investors involved and try to pick up some fantastic deals.

     Once the market does turn for the better the media will continue to report that real estate is dropping and that buyers should wait before they consider purchasing a house.  Don't forget the news that is reported is anywhere from 3 to 6 months old. 

     We're all guilty of placing too much stock in what we hear and read as a reliable source when it's in print or on television.  The truth is the message they're spreading is correct, it's just that information is outdated.

     So if you're looking to get information that is up to date and accurate, contact a local realtor and ask them how is the market doing.  Ask them how many closings they have had in the last 30 or 60 days and compare that to their average.