Real Estate News and The Media

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Mortgage and Lending with Canopy Mortgage 89769

Maybe the media should start talking about some of the positive things like" This is a great time to buy a home with prices down slightly and interest rates still at a all time low"

The media should encourage buying now instaed of making everyone think the real estate market is crashing!

Let's face it house prices are dropping some but there is no 50% discounts out there, the people who have houses priced reasonable and fair are still selling their house and the ones who were way over market value are the ones who are causing the nventory to stay high. It seems like the market is flooded with homes that are way over priced because these people are trying to cash in big! These buyers bought a house 3-5 years ago for $200K and now want $350K with no or minor upgrades and the market is not there and these houses are sitting.

Take a look at new construction for example, in the past a builder would make about $20K on a $125K-175K house profit at the end of the day, that same builder is now looking for $60K-100K profit on a house that cost them $150K to build. I work with a lot of builder and the ones that are greedy are sitting on their spec. houses and the ones who are willing to sell a house that was built for $275K and sell for $335K-$350K are selling their homes.

The media needs to spark the housing market by letting people know that over the past 30 Years we are Still At The Lowest Interest Rates For Mortgages IN History outside of about 2 years ago when it hit rock bottom. A Typical 30 Yr Fixed Rate is around 8%-9% and still being in the 6%-6.5% range is GREAT and people should buy now!

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Rainer
434,914
Scott Daniels Florida Real Estate 2.0. Agents Earn 100% Commission.
Florida List For Less Realty, Inc. Broker/Owner. - Cooper City, FL

So true... I`m sure in your area near Candlewood Lake one can secure a beautiful home for $60K below appriased value right now. Of course this is what my sister is saying to me.

I know Danbury very well. Had a Summer home on Ilon Drive once.Always enjoyed that area..

Oct 29, 2006 11:45 PM #1
Rainmaker
402,658
Suzanne Marriott
Keller Williams Arizona Realty - Anthem, AZ
Associate Broker, CLHMS, e-PRO
The media lives to bring us bad news.  I don't even bother to watch or read it very often anymore.  Good data is interesting and useful, media spin is a guaranteed waste of time.  If they did have something positive in their spin - I would be suspicious!
Oct 31, 2006 01:45 AM #2
Rainer
16,405
Allan Pape
Austin, TX

Yes, the media unfortunately tends to focus mostly on the negative of anything instead of the positive.  Now think about how that effects and shapes the perception of the masses...

Very powerful and unfortunate!

I wish that the news would do more positive stories for this reason if nothing else.

Nov 01, 2006 07:02 AM #3
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Rainmaker
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Leo Namiot

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