Members of the Media Shut UP!

Real Estate Agent with Hardy Realty

The following is taken from Lori Cain. Thanks Lori.

Members of the Media reporting on the housing market - would you shut the hell up?!!

Members of the Media reporting on the housing market are giving the public a very skewed view of the reality of our real estate market. It may be a "Buyers Market" in some areas and a "Sellers Market" in another. While home prices have declined in some markets, they are completely stable in other areas.


Don't believe all that you hear in the news!

It's my job to educate my clients in my geographic area and it's YOUR job to report the news accurately. You can't talk for five minutes about how HORRIBLE the housing market is, then close with a ten-second disclaimer that "local markets vary."

How has your irresponsible reporting affected my job? My ROME home Buyer considered putting an offer on a home that he loves five weeks ago, but after hearing YOUR report, he decided to wait a little longer - just in case we "hadn't hit bottom yet." He still wants to offer 15% below list price because he HEARD you say that no one should pay full price in "this market." In the meantime, he's lost over $10,000 due to the increase in interest rates in the last five weeks.

Members of the Media reporting on the housing market - would you shut the hell up?!!

And my home Seller received two offers this week on her property - both well below asking price. Thankfully, she doesn't HAVE to sell and has the luxury of waiting on an educated Buyer to make an offer on her Rome home for sale.

So, members of the media reporting on the housing market, why don't you PREFACE your reports that markets differ geographically? And while you're at it, why don't you report on some of the areas of the country that are on stable footing? In other words, do your job and let me do mine!

Comments (4)

CJ Davies
Davies and DeGennaro Real Estate - Long Beach Island, NJ
Davies and DeGennaro

Yes, national reports shouldn't be the basis of any decisions making.  If it was like that we would all be out of a job!  You want to deal with your local Realtors, not your National Realtors right?

Mar 10, 2011 04:46 AM
Henry Pailles
Chula Vista Realtor,Short sale,Eastlake Real estate,Realtor - Chula Vista, CA
San Diego Real Estate, San Diego Realtor, Chula Vista Real Estate

Wow! Sorry to hear what happened, but it really happens more often than not.

I remember losing a $1M sale of a downtown San Diego Condo a couple weeks after Katrina, because the media said that San Diego was next for a Tsunami.

Mar 10, 2011 04:47 AM
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Ugh it's brutal out there, Karen!  The media certainly like to talk, talk, talk, without the important and often overlooked element of educating themselves on what they'll be talking about!

Mar 10, 2011 04:48 AM
Karen McAlister Jordan
Hardy Realty - Rome, GA

This did not happen to me, but I loved what she said. A realtor named Lori Cain, actually wrote this. I do get tired of the media ruling the economy don't you? A realtor in my town commented in our local newspaper that short sales were selling for half of the total owed on the property. I don't know what she is selling, but that sure hasn't been the case for me. Now everyone here wants to offer half of the asking price. Come on People!!!

Mar 10, 2011 05:02 AM