Misleading Reports Do Not Help The Real Estate Market

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

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.

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.

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!

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!

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!

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??

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

Patricia

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.

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.

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.

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.

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

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.