Misleading Reports Do Not Help The Real Estate Market

By
Real Estate Agent with Joe Manausa Real Estate 8508880888

Do people who report on real estate market activity actually think about what they are doing? I understand the concept of sensationalism in reporting, where a newspaper can sell more copy with an exciting headline.

Today's Business Section Of The Tallahassee Democrat

In the real estate report pictured below, a reporter's message is that the market improved.

Tallahassee Democrat Real Estate Article

 

Today's Real Estate Blog - Tallahassee Democrat

In the real estate blog pictured below, I report the actual activity in Tallahassee. Still declining, though not as bad.

Tallahassee Democrat Real Estate Blog

 

 

Year over Year home sales in Tallahassee


Do Not Mislead With Real Estate Reporting

I get the fact that confident consumers buy more. I really do. But I also think that the average consumer has a brain and will only fall for fictitious reporting for a while. That garbage needs to be in the past, and real estate professionals need to step up and provide the reality where the media is missing the mark.

I suspect newspaper reporters do not have the time to research this, they just write a quick piece based upon NAR reports. I propose that if you value your reputation with clients, you will give honest, fact-based opinion on the market.

 

 

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Rainmaker
1,162,133
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

I'm way too jealous of you Bill! I hope the Austin, Texas market keeps shining!

Sep 25, 2009 03:44 AM #72
Ambassador
1,631,683
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

We have to look at everything we use in a hyper-local, and segmented way. Just because $150K homes in Edmond, Oklahoma show a 3 month absorption rate, does not give me the accuracy to say that the market is great. It also does not give me the right to point out that homes above $500K in the same market have a 2 year supply. Overall I am happy with the state of the Oklahoma City market, but the devil is in the details. Thanks for the topic, it is a big one. 

Sep 25, 2009 03:51 AM #73
Ambassador
753,885
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Joe,

I just thank God every time we close a purchase loan.  The market in Tucson (as in many places) is segmented, with some parts of the market improving, and others still declining.  We look for the opportunities wherever we find them.

Mike in Tucson

Sep 25, 2009 04:00 AM #74
Rainmaker
1,162,133
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Joe. WIth a name like Joe, you gotta be right!

Sep 25, 2009 04:04 AM #75
Rainmaker
1,162,133
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Amen Mike. We're trying to see if we are finally making the turn here.

Sep 25, 2009 04:04 AM #76
Rainmaker
1,527,531
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Joe, you're the best at this stuff, no doubt.  Is it the mis-reading of the info given by the Florida Board of Realtors then?  Or is it a twist from the market in Florida to the national market?  OR is the Florida Board smoking something illegal entirely?  There is positive spin and then outright lying.  You are the person though to clarify those stats for buyers and sellers.

Sep 25, 2009 04:32 AM #78
Rainer
89,485
David Salvato
David Home Inspection Service Home Inspector San Bernardino - Los Angeles, CA

Hi Joe: Congrats on the feature. It's amazing how numbers can be displayed differently to tell whatever story people want to tell. We need to remember while others are down in sales someone has got to be up. Like I tell everyone keep crapping yourself out over bad news, I will be happy to take your market share.

Sep 25, 2009 04:35 AM #79
Rainer
8,415
Dan Perkins
SmartZip.com - International, IT

I've been writing copy and blogging for a few years now and a lot of what's out there is just drivel-  A company tells a writer what kind of a piece they want and the writer has to make a case.  The turn around time on a article has to be faster than ever before, so research is done hastily or poorly (if at all).  

The important thing to do is to pinpoint the legitimate sources and hold them accountable.  We don't need to worry about a tiny, lame blog somewhere, but when a large media outlet makes a mistake or comes to an illogical conclusion, we need to jump on them.  Unfortunately bad news is more believable than good, and good news is often regarded as propaganda...  what we have is 1000 boys calling 'wolf' 1000 times.  Keeping track of the legit sources is the key.

Sep 25, 2009 05:02 AM #80
Rainmaker
117,024
Jason Burkholder
Weichert, Realtors - Welcome Home - Lancaster, PA
Associate Broker, Realtor, e-Pro, CMS

Locally, our association hired a professional PR person to develop relationships with the media so we can report fair and above all, accurate, market reports to the public, encourage your area association to do the same!

Sep 25, 2009 06:35 AM #81
Rainmaker
231,989
Emily Lowe
The Lipman Group | Sotheby's International Realty - Nashville, TN
Nashville TN Realtor

I have been surprised at how many people recently told me that they believe the market is on the upswing again.  I am like you - I don't want to be negative and I think it's great to have a positive attitude no matter what, but facts are facts.  Thanks for sharing!

Sep 25, 2009 09:30 AM #82
Rainmaker
231,989
Emily Lowe
The Lipman Group | Sotheby's International Realty - Nashville, TN
Nashville TN Realtor

I have been surprised at how many people recently told me that they believe the market is on the upswing again.  I am like you - I don't want to be negative and I think it's great to have a positive attitude no matter what, but facts are facts.  Thanks for sharing!

Sep 25, 2009 09:32 AM #83
Rainer
80,845
Gene perez
Greater Mortgage Solutions & Valley Hills Realty - Santa Maria, CA

I think all this is really for the consumer and the economy as whole basically getting everyone to feel good vs panic on how things are still bad or maybe getting worse??

Sep 25, 2009 10:38 AM #84
Rainmaker
662,099
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

Hey...."bad news sells quicker than good news!" So why print the good stuff!!  It's boring.

Patricia

Sep 25, 2009 11:07 AM #85
Rainer
209,706
John Wall
Realty Connect USA - Hicksville, NY

Winston Churchill said there were "lies, damn lies and statistics".  Having worked previously in cost studies, I know you can make numbers do just about anything you want...if you present them just right.  Most of the figures I've seen are accurate, they just don't really mean what they seem to at first glance.  It's a source of amusement (maybe amusement is the wrong word) in our office that we read how the housing market has hit bottom one day, then the next how we're on the verge of the next wave of foreclosures.  Unfortunately there's always an agenda...even in the news.

Sep 25, 2009 01:27 PM #86
Rainmaker
565,518
Mike Saunders
Lanier Partners - Athens, GA

Joe - excellent perspective. I report weekly, monthly and sliding annual stats in my market reports. I try not to editorialize and let the consumer/reader reach their own conclusions.

Sep 26, 2009 05:05 AM #88
Rainmaker
1,036,503
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

Joe - Right On ... The Good The Bad The Ugly ... Tell It Like It Is.

My personal preference is to discuss current conditions with individuals as it relates to their situation rather than constantly give out quotes and stats from our board that can be read in the paper.

Sep 26, 2009 05:55 AM #89
Rainmaker
1,765,876
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

It looks like the first report may be statewide while yours focuses in on Tallahassee. For me it's important to include both price and volume in a report. Showing one without the other is only giving part of the story.

Sep 26, 2009 06:03 AM #90
Rainmaker
478,373
Lana Robbins Realtor ® Licensed Real Estate Broker
Aloha Kai Real Estate - Clearwater, FL
Florida and Washington Real Estate

Hi Joe. I'm in Tampa Bay and some local reporters skew data to sensationalize the housing market though in a negative light when it is actually improving. ~ Lana

Sep 26, 2009 08:42 AM #91
Rainmaker
1,607,549
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

The public has come to expect it and this is why the media can get people to do just about anything. No one verifies the numbers for whatever reason and the media knows this.

Sep 27, 2009 09:33 AM #92
Rainmaker
1,162,133
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Hey John. Yes and No. The first report is statewide, but it also contains our local market. The local paper did a sloppy job reporting, even though the business editor had information that was opposite of what was reported.

Sep 28, 2009 03:54 AM #93
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