Mass media is full of bad news about the real estate market. It seems like 99 % of national news focuses on bad news. Foreclosure stories, short sale numbers, gloom and doom stories can be very interesting. And the stories that are being spotlighted in the news are mostly true. But they do not tell the whole story. Real estate is local - right down to the neighborhood.
There are many neighborhoods in many cities that have bottomed out - including some neighborhoods in Mesquite NV - my town. In those neighborhoods, now is a good time to buy. Smart buyers should be watching neighborhoods where they might like to live, not watching national real estate news.
Are there overall markets that are still declining? You betcha! But even within some of the worst areas, hardest hit by the gloom and doom ... I think there might be neighborhoods that are stabilizing, some even appreciating just a little bit. Those little pockets of encouraging results do not make the national news.
"What does it take for an idea to spread from one to many? For a minority opinion to become the majority belief? According to a new study by scientists at the Rensselaer Polytechnic Institute, the answer is 10%. Once 10% of a population is committed to an idea, it’s inevitable that it will eventually become the prevailing opinion of the entire group. The key is to remain committed."
Can you commit to sharing any real good news?
Are there any neighborhoods in your city that have already bottomed out?
Do you know of any subdivisions in your area where the prices are going up?
Any areas of your town that are starting to bloom?
Do you have any good news to share about the Real Estate Recovery?
Linda and Peter Pfann are committed to letting the world know that there are some good stories about the Real Estate Recovery - they even have an AR Contest going on.
A Pfanntastic place to share any positive posts - add your 2 cents toward the 10% of the good news about the real estate market - and the beginnings of the Real Estate Recovery. It is local!