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Where do they get this stuff?

By Maureen Francis

Real Estate Agent with Coldwell Banker Weir Manuel

August 17, 2006 12:05 AM

A mortgage rep we work with sent me this article from USA Today about the Detroit real estate market. Personally, I don't know where they are getting their data. Maybe they are only talking about the city of Detroit.

We work in the suburbs, and while we are seeing increased inventory, actual sales in my market are up over 2005. This is not getting reported. Frankly, Dmitry and I have never been busier than the last 3 months! Homes are selling and the MLS stats show this. Its not all gloom and doom in metro Detroit.

And another thing, there are 6 homes on the market over $8.5 million, though this article lists the most expensive home at that price. Where did they get their information? The most expensive home in our MLS is listed at $20,000,000.

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William Seufert

Florida List For Less Realty, Inc. - Pembroke Pines, FL

I too see we`re busy. For a HOT AUGUST thats rare!I don`t trust the media...

Aug 17, 2006 12:08 AM

Maureen Francis

Coldwell Banker Weir Manuel - Bloomfield Hills, MI

Coldwell Banker Weir Manuel

Unfortunately, the buyers are getting the media's message. Makes things challenging!

Aug 17, 2006 12:23 AM

Kristal Kraft

Novella Real Estate - Denver, CO

Selling Metro Denver Real Estate - 303-589-2022

Have you ever tried contacting the reporter who wrote the article? Maybe becoming a trusted resource you could impact what is being reported.

Sometimes that is much easier to do than one would think.

Aug 17, 2006 01:18 AM

Good point Kristal. I hadn't thought of that.

Aug 17, 2006 01:58 AM

Doug, Kathie & Billy Whitehouse

Hannett, Wilson, Whitehouse & Burke, LLC REALTORS - Birmingham, MI

As I have said in several previous blogs - The media is looking to selll media and they tend to take whatever makes their point and show it as the whole truth.

Aug 17, 2006 03:01 AM

Sherri Berry

Reliant Realty, Murfreesboro - Murfreesboro, TN

Murfreesboro TN Homes & Real Estate

Our newspaper has been running a series on housing prices here that has amazed me at how inaccurate most of the data us. One story had a picture of a home from a million dollar subdivision with the caption that homes in this development can run "upwards of $250,000". For $250,000 I think I'd buy the entire development!

Aug 17, 2006 04:29 AM

Teri Isner

Keller Williams Realty at the Lakes - Orlando, FL

GRI, CRS, CIPS

You could also position yourself to be the expert and make sure that this person gets a correct market update from you on a regular basis. If they are going to do another article you would be glad to help collect the stats for them. Doing this propelled another agent I know to the point now that he is the go to source for the local news!

Aug 17, 2006 10:48 AM

Christopher H

REAL ESTATE - Shelby Township, MI

Metro Detroit sales are down. Your city may be up. Overall it is down.

Aug 17, 2006 04:11 PM

My city is up and I've seen realcomp figures that show us flat to up year to date in oalkand county for sales.

Aug 17, 2006 08:05 PM

Sara Lipnitz

Max Broock Realtors - Birmingham, MI

As I mentioned on The Whitehouse's blog... If you tell a child that thy're stupid, they become stupid. If we want to give our customers confidence we must choose to share TRUTHFUL information. There is thruthfull information out there that's positive about the metro Detroit market.

Aug 18, 2006 07:24 PM

Where do they get this stuff?

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