Home : Blogs : Bill Roberts - "Baby Boomer" Retirement Planning : Financial Strategies by Bill Roberts

Not Again! A Real Estate Market Update

Not Again! A Real Estate Market Update by Bill Roberts

This morning on the CBS Early Show Mark Zandy, the Chief Economist for Moody's economy.com said that he expects another 10% decline in real estate values over the next twelve months.

Why are they doing this? Haven't they fueled this market decline enough? Since markets are basically driven by psychological factors they are the problem. The mass media provides the information that most people use to make their decisions. If that information is faulty, then their decisions will probably also be faulty.

These so-called experts have a responsibility to all of us to stop spreading these negative opinions. After all, they are only opinions. TV allows them to promulgate these ideas to the general public. The public responds to this kind of "information." Their response makes the pronouncement correct. A self-fulfilling prophesy.

There is a lot of anecdotal evidence that we have reached a bottom, or are very close to it.

It is our duty to counter these TV "experts." We can't let them call the tune.

Watch this:

Posted by Bill Roberts - "Baby Boomer" Retirement Planning on 02/27/2008 11:18 AM

Comments (17)

This post has been included in California Information San Diego County, CA Information

17 Comments on Not Again! A Real Estate Market Update

Bill - I didn't see it but you're right....this does nothing for morale. Besides, I wonder if Mr. Zandy was astute enough to also reveal that Real Estate is Local and not National? Some markets are in really good shape and actually getting better!

02/27/2008 11:24 AM

by Jason Sardi, Pennsylvania Mortgage Broker (First Choice Equity Group Inc.)

Bill, it is how the sell their commercials. The don't disclosure their holdings now do they. I often wonder if they the media companies don't have their own agenda.

02/27/2008 11:25 AM

by Frank Rubi Louisiana Real Estate-Homes for Sale (Specialized Real Estate Services, Inc.)

Goodness. Don't you have cable?

02/27/2008 11:34 AM

by Lenn Harley, Homefinders.com, MD & VA Real Estate

Bill, If my market only declined another 10% I'd be a happy camper!! But that's my market, not the nation. I just don't like broad strokes. There are areas where values are actually increasing. Maybe they should talk about those some more.

02/27/2008 11:41 AM

by Bryant Tutas-Tutas Towne Realty, Inc

Frank, I would like to know if there is a hidden agenda. Didn't Moodys take a hit on rated those MBS?

Bill Roberts

02/27/2008 11:45 AM

by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

Jason, I think the message has to be "Now is the time." I just added a video. Please watch it.

Bill Roberts

02/27/2008 11:48 AM

by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

Lenn, I just like to keep up with what the real people are doing.

Bill Roberts

02/27/2008 11:49 AM

by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

Well do Bill.

02/27/2008 11:50 AM

by Jason Sardi, Pennsylvania Mortgage Broker (First Choice Equity Group Inc.)

BB, I thought you made a pretty good case for buying in Poinciana NOW.

I was actually tempted to come down there and make an offer on something. You know, Buy and Wait rather than Wait and Buy.

Bill Roberts

02/27/2008 11:52 AM

by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

Bill, thanks for sharing this. I missed this. I am glad others are around to catch things I miss.

02/27/2008 11:55 AM

by Dave Cheatham (INC Financial )

Dave, It is all of our responsibility. Nobody can look in all directions at once. Thanks for commenting.

Bill Roberts

02/27/2008 11:57 AM

by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

The news media coverage is so powerful, and the ratings and advertisers contribute to the sensationalized stories.

Kathy

02/27/2008 12:22 PM

by Kathy Riggle Houston Home Staging-STAGING SMART NSOLD (STAGING SMART N SOLD)

Bill: The media should be reporting that now is a good time to buy. Now is a good time to find quality investments and people need to act before these conditions change. The FHA will probably buy all the "good apples" if Congress has their way about it. Investors need to call us now.

02/27/2008 12:32 PM

by Jan Wood, Realtor (R) - Nashville TN Real Estate (RE/MAX ELITE)

Kathy, You got it. Thanks.

Bill Roberts

02/27/2008 12:49 PM

by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

Jan, I thought they were calling you. Oh well.

BTW did you get your points for participating in our contest? I need feedback on this to see if I need to follow up with AR. Thanks.

Bill Roberts

02/27/2008 12:53 PM

by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

Bill - Same old story, isn't it? If we used our heads, we'd all realize that the time to buy anything is when prices are down, and the time to sell is when they are up. But there are so many doom sayers out there right now that the average person thinks, "Things are bound to get worse if I buy property now, so I'll just wait." Maddening, isn't it? Btw, nice video!

Ken Tharp, Iowa Equity Exchange

02/27/2008 05:06 PM

by Ken Tharp - Section 1031 Exchanges, Iowa/U.S. (Iowa Equity Exchange)

Ken, Its only maddening if you expect to convince everybody, but if you are working with a limited number of people who trust your judgment then these are good times indeed. Thank you.

Bill Roberts

02/27/2008 06:00 PM

by Bill Roberts - "Baby Boomer" Retirement Planning (Brooks and Dunphy Real Estate)

Leave a response…

Name:

Notify me of new comments:

Comment:

What does the graphic say?