I head a few blurbs on increases as well but then yesterday Maria Bartoromo does an interview on the Today show and says in a blanket statement that housing is down 30% ! 

They LOVE to keep up with the Doom and Gloom stories and if I hear "Mortgage Meltdown" one more time I'm going to go crazy.  I wish they would start doing some "Local type" stories in areas that are not: Florida, Nevada and California.

Todd, I couldn't agree with you more, the media has created more of a problem, than the actual problem!!

I made a blog on this topic as well.  This is a great time to buy your first home.  I see a lot of first time buyers and those moving up assessing the situation and finding some great deals.

I am convinced....that if the media would focus on the positive for just one month, things would get better...

Todd - You're right.  Scranton has been great!  Home prices are coming down and bringing buyers into the market.  Couple that with the fact that rates are still extremely low, and you've got a great opportunity for buyers. 

Lenders have made things difficult with tighter guidelines for mortgage approval, but brokers can still find options for buyers with less than perfect credit.  With these declining values we've had, I've found another problem with stimulating the housing market.  People who want to "move up" are finding it very difficult to sell their home for enough to cover the mortgage.  They would buy now but they are stuck in their current home.

The people who are taking advantage are the investors.  They are the first to the table because they are usually cash buyers and there are plenty of foreclosures to be had.  Now we're seeing those houses go back on the market as fully renovated homes.  That's another factor that will bring people into the housing market.  Quality homes with exceptional prices are coming on the market every day.

We can always use good news. Scranton is in the limelight with the Pa primaries. Hope it will help your market.

Todd,

You hit the nail on the head!  Bad news sells.  Look at any news media and bad news is all over the headlines.  Bad news draws much more attention than good news. 

In our area of Mortheast PA, we are what I like to call "slow & steady".  We haven't seen extremely large jumps in appreciation but we also haven't seen any major declines.  What the media fails to realize is that real estate is local, not national.  It's like telling someone the temperature today is 80 degrees all across the country!  Thank goodness for good ol' Northeast PA.  I'll take slow & steady any day!

Todd-It is nice to see a positive post on the market. This item did hit the news, but they tend to focus on the negative, that prices are down. The decrease in prices is beginning to help on sales. Time magazine also had an article advising buyers that now is the time to act. I posted a blog on that article.

Thanks for contributing to the ABR group.

I am all for anything that sparks some life into the current market conditions. Thanks for the positive news!

Brian - Don't you hate those negative "blanket statements?"

Marc - If they, the media, would give it a rest for 3 weeks, it would make a world of difference.

Vanessa - I am going to go check out your blog

Konnie - I 100% agree

Kevin - Always nice to hear from you. Did you hear about the investor bus tour in the area?

Gita - So far, my local market is still climbing the ladder. Hope you are faring well in yours.

John - I love "slow and steady." I love it more with a large coffee in my hand!

Rich - Looking forward to reading your blog on the Time article.

Kevin - Make your own spark! All of us in the business need to think out of the box a bit.

I did hear about the bus tour.  Brilliant marketing if you ask me.

I'm tempted to hop on the bus and hand out info on my rehab funding programs.  Something tells me the Realtors may not appreciate that.  :-)

Have you been able to break into the bank-owned properties niche?  I know you were looking to get hooked up with banks a while ago.