Real Estate and the Media

By
Real Estate Agent with RE/MAX Twin Rivers Real EstateINC.

This blog is directed towards Real Estate in Oklahoma and other parts of the United States that are not affected by the so called Real Estate bubble bursting. One of the very first questions I am asked when people find out that I am a Realtor is "How is the market doing?" followed quickly before I can give a response "I hear it is not doing very well". People have the tendency to believe everything that the media reports on, whether it pertains to the part of the country they live in or not. Because Real Estate on the East and West coast started showing a decline in home values, the media reported on this and people here in Oklahoma started believing that the gloom and doom days are here. In Oklahoma 2007 will go down as the 5th highest year for home sales in history. One of the differences between 2007 and 2006 is that homes stayed on the market a little longer. Home values are still increasing and are selling close to the list price.This information is more positive than what the media reports and what they want us to believe. With mortgage rates historically low and dropping and new lending programs coming available, 2008 looks to be a very promising year for home sales.

Comments (2)

Gary Bland R (S) E-Pro, ABR
Hawaii Life Real Estate Brokers - Wailea, HI
The media makes plenty of money telling people things that are not true.  It is a biz for them.  You know the truth It is the time to buy!
Jan 22, 2008 11:50 AM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate
We get the same type of comments from people here in NJ. There is a constant bombardment on both TV and in the papers of negative reports on housing. When I tell people I'm a Real Estate agent, they usually get a mournful look on their face and say "Oh, I hear things aren't so good right now". When I respond that the market is actually pretty active and that it's a great time to buy Real Estate, they tend to look at me like I have six eyes.
Jan 22, 2008 12:01 PM