Would the newspapers please shut up??

By
Real Estate Agent with Keller Williams Fort Myers & The Islands

In my previous post entitled, "It's a buyers market, have we bothered to tell our sellers" I spoke of the challenges we face as Realtors to prep our sellers for lower offers and explaining to them that the buyer is not their foe. I also spoke of the Real Estate Guru, Katie Couric.

My local paper had this headline today, "Lee home-price skid among worst in U.S., study says" 

What goes through a sellers head when they see this? Pessimism, despair, anger, even hopelessness. 

What goes through a potential buyers head when they see this? On one side they are getting excited about the possibility of finally affording a home, but many are also thinking they are going to be able to get something for nothing.

We all know this in not the case. Unless a seller is comatose they are not going to take 40% of the asking price for their home. Realtors for the most part list a home at a price they think is applicable to  market conditions. Yes, some Realtors will say anything the Seller wants to hear just so they can get their sign in the yard, but good Realtors advise their clients wisely in pricing.

Yes, home prices are lower than they have been on several years, but several years ago they were so inflated that the working class segment of the population found themselves priced completely out of the market.

The fact of the matter is that I have been able to help 2 first time home buyers this month because single family homes are now affordable for them. My business is picking up because buyers are seeing the market welcome them back.

The newspaper completely ignored the outcome of lower prices....that being a larger pool of eligible buyers. Call me crazy but more people being able to buy a home is a GOOD THING!!! I sincerely hope I won't see a headline in the near future that reads anything close to "Home prices in Lee County rising quickest in the US study says"

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Florida
Tags:
newspapers
media
first time home buyers

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
120,738
Ronald Gillis
Southwest Florida Notaries (Mortgage Notary Signing Agent) - Port Charlotte, FL
CNSA Southwest Florida. Notaries, Port Charlotte, 941-7-NOTARY

The papers sell on gloom & doom, that is how they sell their product!

Signature

Sep 21, 2007 11:17 AM #1
Rainmaker
826,128
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Kimberly,

Nice post. The media would rather see a catastrophe occur in the market than acknowledge good news for first time homebuyers! Thanks,   Fran

Sep 21, 2007 11:22 AM #2
Rainer
233,668
Brett Noel
Keller Williams - Paso Robles, CA
Nice post, The media has predicted 12 of the last three recessions.
Sep 21, 2007 11:40 AM #3
Rainmaker
325,871
Esko Kiuru
Bethesda, MD

Kimberly,

Sellers do have to adjust to a new standard on prices, unfortunately. In the long haul it's good for the industry as more homes become affordable to the average buyer and that in turn will generate more transactions for us to handle. The media sometimes misses the boat, doesn't it?

Sep 21, 2007 11:55 AM #4
Rainer
72,964
Jeffrey Tumbarello
South West Florida Real Estate Investment Association - Fort Myers, FL

Kim

, my mentors have been those whose lives have changed the world for the better. Be they good teachers, great Doctors, hard-working scientists, engineers, realtors, lenders, store owners, single Moms/Dads, if their lives somehow improved theirs AND others', I listen carefully to all they have to say

 

Brett

They caused most of them

Nov 08, 2007 05:14 AM #5
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
17,489

Kimberly Lang

Ask me a question
*
*
*
*
Spam prevention

Additional Information