I can see how the general public is in the confused state that it is. Why I get the strange looks I do when I stress that our local market is NOT the way the national news is reporting.
The national reports of the real estate economy is forever reporting the general state of the market based on those areas hit hardest by the slow down.
Last week the news headlines locally reported that Pennsylvania's foreclosure rate is up 71%.......how scary is that?
Today in a bottom of the screen sub-line (at the bottoem of the screen) while the news is on, showed that Pennsylvania is in the bottom 1/3 of the states in foreclosure.....good news, yet just run by the reporter and not stressed by the news.
Is this crazy or is it just me, wouldn't this show that Pennsylvania has not been hit as hard as most states and still a place to look for a stronger real estate market?
Oh well, it remains on the Real Estate Professional to continue to educate the consumer.
Dan Brudnok - John McGovern
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8 Comments on What is the REAL truth?
HI Dan, This is so true! I went to a mortgage convention a few monhths ago and we had national economists spend 3 days telling us one thing, the problem is'nt everywhere, educate your consumers, be a part of the solution not the problem!
great post Dan.....Media creates sweeping and hasty generalizations which are both by definition illogical - people who believe everything they hear & see on TV become demoralized and fear stricken - it's only the savvy few who will emerge having capitalized on the incredible opportunites that exist in this housing market now!
sincerely,
Grace
Christina,
We have to spend a lot of our time trying to sift through what is real and not....what truly effects us and doesn't.
Hi Dan - I'm afraid I'm in one of those states which the media loves to hype. Unfortunately the news is more often true than not. I'm hoping that our seriously low prices alone will drag the market back up. It's been almost 3 years of a down market here. Having said that, there are certainly agents who will do well, we just have to work harder and smarter.
I love statistics - foreclosures up 71% doesn't tell me much. Is that 1% of all homes? 10%? A jump from 1000 to 1710 is a 71% increase. My point is it sounds scary until you peek behind the curtain to see what it really means.
Grace,
We try so hard to keep it real......the absurd makes it so much harder for us.
Ryan,
Numbers can be anything...without looking behind them you can never be sure their meaning.
Gail,
I hear your pain and hope too that the recent changes in leadership, whether you voted that way or not, will make the needed permanent changes to move all of the country forward.