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My Goodness, A Positive Real Estate Article!

By Tchaka Owen

Real Estate Agent with Galleria International Realty

March 04, 2008 04:56 AM

Rainers, I have incredible news for everyone!! How many times have we talked about and tried to combat the continuous negative press about most real estate markets? Imagine my surprise when I ran into the following article just printed on CNN/Money:

http://money.cnn.com/2008/03/04/real_estate/markets_less_overvalued/index.htm?postversion=2008030412

Les Christie's article states that this is the best time to buy in 4 years. And the horn-blower isn't NAR but National City and Global Insight. I mention this because the common critique of NAR is that they're inherently biased towards positive real estate news.

Obviously real estate is local so each market will be different. But I'm thrilled to read an article that doesn't continue to pound the industry.

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Sonya Rosser

Better Homes and Gardens Real Estate Metro Brokers - Douglasville, GA

Hi Tchaka, thanks for the information. This is what we need some positive news. But lets remember when we don't hear good news we will still remain positive.

Mar 04, 2008 06:24 AM

Katrina Madewell

Charles Rutenberg Rlty- More than 5,000 agents(813) 777-1196 - Tampa, FL

Tampa FL Homes for sale | Tampa Bay - (813) 777-1196

WOW! A bit of a shocker, but some great news to say the least! Thanks for putting that here...

Mar 04, 2008 04:12 PM

Jan Wood

None - Gallatin, TN

Tchaka: Boy, do we ever need some good news. Maybe the other news agencies will pick up on it and start running some good positive stories for us. Thanks for the link.

Mar 12, 2008 11:27 AM

Esko Kiuru

Bethesda, MD

Tchaka,

This is indeed a rarity these days, but now that the door is open a crack, maybe more of these good news will be coming out. Mortgage rates are still nice and low, so it is a great time to buy a home, especially in markets where prices have dropped, like in Las Vegas.

Mar 12, 2008 03:18 PM

Karen Parker

Parker Holdings of Tampa Bay, LLC - Brandon, FL

I felt that way before I read this article. It is also the best time to sell if you are in the proper place. The real estate market has not suffered in all areas of the country. Values in areas such as Seattle, Portland, Charlotte and Jacksonville have actually apprecited. Some substantially. The focus has been so heavily placed on the areas that have seen drastic declines that we all fail to look at the positive ares. I think it is human nature. If you'd like to look at the reality of the situation, take a look at this article:

http://www.msnbc.msn.com/id/16929669/

Mar 12, 2008 07:59 PM

Dionne Bass

Ask The Underwriter - Atlanta, GA

Blog: Ask The Underwriter

It's great to hear something positive! The sky is falling headline is getting a little old..... thanks for posting.

Mar 12, 2008 08:41 PM

Artur Urbanski

Cimpler Real Estate, Inc. - Burlingame, CA

Helping property owners to maximize property value

Tchaka,

I am not sure if I would agree with a statement that affordability in California improved. In San Mateo County, CA we have only a few cities were prices dramatically dropped in the last 12 months (20% and more). In a few cities - prices went up over 20% (yes!). In most - they have increased from a few to 10%. Additionally, as jumbo prices are still very high sand guidelines much more restrictive, I simply don't believe in the statement. Wea re waiting for conforming loans increased to $729,500 (up from $417,000). Hopefully it helps, assuming that the rates for new conforming loans will not go up.

Mar 12, 2008 08:45 PM

Tchaka Owen

Galleria International Realty - Hollywood, FL

John - let's hope this good news does become self-fulfilling!!

Sonya - you are correct and that's one of the things I love about my company, we all keep a positive attitude. When things go bad we brush them off quickly and don't allow anything to drag us down. Thanks for commenting.

Katrina - you should have seen my face when I came across that article! :-)

Mar 13, 2008 05:17 AM

Tchaka Owen

Galleria International Realty - Hollywood, FL

Jan & Esko - I have since seen one other positive article so that crack may be widening! I understand that there's a lot of bad news, I'm just happy to see both sides being represented in the media. With the new security backing for loans, rates may rise a bit, but overall they're still low. Hopefully more buyers will take that into considation.

Mar 13, 2008 05:21 AM

Cynthia Tilghman, Realtor® Onslow County NC Home Specialist

Kingsbridge Realty, Inc - Hubert, NC

Hello Tchaka,
Good to make contact with you again. I hope things are well with you.

Good real estate news is very welcome, no matter the source! I would love to hear the major news medias start report good news. You can bet that will not happen until well after a recovery is under way.

Mar 24, 2008 01:51 AM

Jacob Webster

Sagamore Home Mortgage, LLC. - Zionsville, IN

Indiananulls Senior Mortgage Consultant

WOW! Great news for everyone! Thanks for sharing this information.

Mar 24, 2008 03:52 AM

Debbie Malone

Londeree's Real Estate & Property Management - Lynchburg, VA

From Lynchburg To The Lake (434) 546-0369

Tchaka, this is really good news, msn money had a similar report about the top 291 metro markets (Lynchburg is 34). As Realtors, we have to be proactive and get the good news out to our local community.

P.S. Thanks for commenting on Kat's blogs; it's cool that you went to school just 'up the road'

Mar 26, 2008 09:38 AM

Michael Veri

Realty Executives Mid Florida - The Villages, FL

It's finally good to hear the media tide turning, or at least 1 speck of good news.

It's a grat time to buy here in Ocala, we have the lowest median sales price out of any market in FL and it is a great community to live!

Mar 26, 2008 04:38 PM

JL Boney, III

Coldwell Banker - Columbia, SC

Columbia, SC Real Estate

It's nice to hear that someone in the media does not want to kick the market while it's down. Thanks for the post.

Mar 29, 2008 01:28 AM

Jacob Webster

Sagamore Home Mortgage, LLC. - Zionsville, IN

Indiananulls Senior Mortgage Consultant

Good news and great article. Thanks for the exciting information.

Mar 29, 2008 01:40 AM

Tchaka Owen

Galleria International Realty - Hollywood, FL

Artur - I'm sorry I didn't address your post earlier. I believe that they're looking at the state as a whole. I know that there are certain parts of California that are going in a different direction than "affordable"! An increase in the conforming limit will certainly help many people there.

Mar 30, 2008 05:45 AM

Tchaka Owen

Galleria International Realty - Hollywood, FL

Cynthia, Jacob, Michael & JL - thanks for stopping by. I'd like to add that just a few days ago I was watching one of the business channels during my lunch break and Gerri Willis of CNN was a guest. She also reiterated that now is the time to start buying again. She commented that interest rates are low and prices in many markets have dropped (which we already know). As more people like her speak out, the tide will turn.

Mar 30, 2008 05:49 AM

Tchaka Owen

Galleria International Realty - Hollywood, FL

Debbie - Lynchburg is #34? Wow, I would have never guessed. I will look that report up and see what else I can gain from it.

Even though Kat went to Virginia Tech which is at the end of dirt roads and the average IQ there is around 4 (lol, she's going to kill me!), I was happy to comment. It was an important topic that has many arguments on either side. I hope no school ever experiences anything like what happened last year. I'm proud of her for caring enough to do something.

Mar 30, 2008 05:55 AM

Artur Urbanski

Cimpler Real Estate, Inc. - Burlingame, CA

Helping property owners to maximize property value

Tchaka - no problem. Let me add some good news of my own. In one of the hardest hit cities of San Mateo county - Daly City - condos are starting to sell again. As prices dropped during the December - February period we see much more buyers activity, but most importantly - more pending sale.

Mar 30, 2008 06:46 AM

JL Boney, III

Coldwell Banker - Columbia, SC

Columbia, SC Real Estate

There was also a positive article the other day in Time magazine.

Apr 03, 2008 01:36 AM

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