Could be.

I will have to think of that one.

Good post.

BARBARA - Interesting question.  While I can see the advantage of not using labels, the reality is that the media will not stop, so for avoiding the term as a REALTOR is unrealistic.  The reason that I think that we need to use the terms is to manage expectations and create a sense of urgency.  No REALTOR, in any market, strives to work with the unmotivated.  By speaking in terms of a buyer's market, the sellers have to realize that proper pricing is going to be their only chance to sell their home.  Conversely, any buyer that would be tempted to see a number of homes and make lowball offers in a sellers market, are likely to find themselves on an endless search. 

There is no sensationalizing the middle, and the media relies on sensationalizing.  My guess is that once the media determines that the markets have recovered, that we'll start seeing stories that will talk about the recovery and then eventually into the next seller's market.

As a Realtor, you will always have to do some form of damage control.  Rarely will any deal go through where you dont have to wipe someones nose or hold thier hand.  It comes with the territory

Linda-

I will be interested in hearing what you think

Adam

Thanks for commenting- I agree it is media driven. Great points!

Clint

Thanks- I agree, we all choose to do our damage control differently

It is a good question. As Realtors we are supposed to be knowledgeable . If the market really is one or the other then I think you do more damage to your credability if you skirt the issue. Now you can say things like we have a good inventory. Price are competitive. Good homes sell. So you can qualify the buyers market statemtn and frame it so the buyer does not think it is a fire sale market. But look at it the other way. When it was a "sellers" market didn't you tell your buyer making an offer. This is a great house we should act fast there is a lot of interest?

It is always a good time to buy or sell.  There are always opportunities for both buyer and sellers.  To label a market as slanted one way or another is not a good idea.

Identifying with the state of the economy is more important than media sensationalism, Barbara. Supply, demand, money and banking influence the position of the market in addition to other factors that swing the pendulum in one direction or the other. I'd listen to the economics experts possessed of the special knowledge and skills to crunch the numbers.

Charlie, Steven and David- Thank you all for great comments. I think for me it is easier just to not try to identify or "name" it- The market is the market- I try to remain focused on either finding a buyers dream home or getting a sellers property sold- Each deal is unique... 

Barbara,

I like your take on the subject...and continuing my question...maybe 'labels' are unfitting to apply at anytime...in 36 years around the industry it almost always has been a good 'time' to buy...even when interest rates were over 16%!!!

BTW, thanks for the kind words about my7 blog!!! Thanks,   Fran

Barbara I think the media makes matter worse. Media are not encouraging buyers to go out and buy a house at a time when a lot of houses are on sale for 50% or more than the market value. As long as buyers keep listening to the media,it is not going to matter. Thats what I think. Great post.

Hi Fran and Lanre  Thanks for stopping by!

Fran- I am glad you started this discussion. You are absolutely right- It is always a good time to buy a home. The benefits of home ownership remain.

Lanre- My daughter is a news producer- She will tell us sensationalism sells! Everything has to be reported bigger than life- for fear of being boring. For Exit Agents there are our daily affirmations to sort of neutralize the negatives ;)

At times I'm sure we do damage by labeling things and in particular the real estate market. I think daily about our market and to be honest with you I don't know what I'd label it. I hear many buyers quickly pull out the "It's a Buyer's Market" label and it simply is not a true buyer's market here. In our area it's a great time to sell, our inventory is down 7% from last year and both buyers and sellers have the advantage of the low interest rates. I'm going to have to put some thought into this and see if I should put something on Localism about our current trends.

Hi Bob

I will be interested in seeing your post on Localism- Thank you

Barbara - I would say that it's supply and demand dressed in real estate clothing.

high supply/low demand = buyers market.

low supply/high demand = sellers market

Great analogy- Peter

Thanks

Barbara-I agree with Peter's wonderful analogy. So simple, why didn't I think of that? Great post, very thought provoking!

 Thank you, Elizabeth. I am glad you found it thought provoking.