question buttonReading the latest editions of Money Magazine had me shaking my head.  Consumers  eveywhere are having a tough time knowing which set of data to believe when it comes to the market in their area and what was written in a leading magazine is just another example of why.

The first article titled "The Last of the Red Hot Markets" mentioned a few cities where the appreciation was still high for homeowners and sellers were in the drivers seat.  One of the cities they mentioned was Grand Junction CO with a 14.3% appreciation rate.  WOW the folks in Grand Junction must be jumping for joy!

But wait when you get to the article titled "The Outlook 2008" there is Grand Junction CO mentioned again.  Only this time the writer has indicated that there is a bleak outlook for the city and in fact shows a depreciation rate of -9.9%.

How can two articles in the same edition of a magazine be so far apart?  What data were the two writers examining that would provide such a huge gap in values?   Of course I don't have the answer to the question for Grand Junction CO but I've fired off an email to Money Magazine to see what they have to say.

It just goes to show that there is little agreement among "experts" on what is happening in the market and that anyone looking to buy or sell a home needs to work with a local area expert instead of relying on data from national sources.  

 ___________________________________________________________________________________________________

If you are thinking about buying or selling a home in Northern Virginia give me a call at 703-346-2213 to discuss the market in your neighborhood. 

 

                No Hassle-No Pressure-Just Straight Talk About The Northern Virginia Real Estate Market

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and CJ Realty Group, Inc a call at 703-346-2213. 

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8 Comments on Even MONEY Magazine Can't Keep it Straight

NOV
24
2007
201,417 Points 12 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp
Cindy, wow, that could leave a potential buyer wondering what in the heck to do!!!  Do you know what the defination of expert is?  A former drip under pressure!
4:36pm • #1
1,419,788 Points 52 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

It sounds like the first article is about recent appreciation and the second is a forecast. Still, it underscores the importance of working with a local agent who knows that market and the many potential sub-markets. A solid local agent can help both buyers and sellers make sense of the market dynamics in order to make sound decisions.
5:17pm • #2
1,912,613 Points 385 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master
Cindy, now that has my little pea sized brain reeling!  How'd they do that?
5:20pm • #3
188,185 Points 31 Featured Posts Outside Blog

You said: It just goes to show that there is little agreement among "experts" on what is happening in the market

That is because they are not the experts.  They are journalists who the general public perceives to be experts.  It is a real problem. 

 

 
7:48pm • #4
NOV
25
2007
137,058 Points
It is all so speculative I see contrasting reports, but in the same article? My favorite is that the country is going to hell in a hand basket if Fannie Mae and Freddie Mac stop buying loans. There is nothing to back up that they will stop, why make everyone stress out... whatever it takes to sell a paper, with agents not advertising anymore I guess they need to make it somewhere..
2:22pm • #5
NOV
26
2007
1 Featured Post
i'm with Laurie, the experts are not writing for the public, it is the journalists. Having been interviewed by Money Magazine myself I would say that they didn't do anything to check my comments, so I could have said "anything"...but at least I got the publicity.
11:45am • #6
DEC
03
2007
Cindy, it is crazy isn't. The media seems to want so bad to remain negative sometimes that it even tries to hide the positive. We found a newsarticle here like this recently where the title didn't match the article at all. It's a shame we see it so often
9:57pm • #7
OCT
11
2010
228,503 Points Called Shot Master

And now the experts are really confused about the market!
7:34pm • #8

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