The sky is falling, the sky is falling.

By
Real Estate Agent with ERA Excel Realty

Well ok maybe not, but here in Southern California seems like a lot of the news would have you believe otherwise.  Yesterday the Los Angeles Times reported that prices are down, sales while up compared to February are lower than normal seasonal increases, blah,blah, blah,  http://www.latimes.com/news/local/la-fi-homes16apr16,1,5279643.story

What isn’t being talked about:

Well in my office just in the past 2 weeks some of my associates have seen as many as 12 offers on a single property.  One even had multiple offers above the asking price.

Now that’s not to say the pain is over, BUT median home prices across the state or average days on market don’t tell the whole story.  If they did your local lawyer wouldn’t have the book:

 

Book "How to lie with Statistics"

 

How to Lie With Statistics by Darrell Huff and Irving Geis (Paperback - Sep 1993)

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Excerpt - page 8: "... 8 HOW TO LIE WITH STATISTICS formal way. It was based on a sample, a remarkably ..."

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Just like in so much of life there is more below the surface.

One of the questions that I ask myself( and hopefully you do to) is,

What might this person hope to gain from telling me this? 

Well in the case of the media.  They say “Home prices up, economy strong, unemployment down, and sunny weekend coming.”  And we all go, “Isn’t that nice”.  But if it’s “The sky is falling, the sky is falling.”  Well than most of us stop and buy the paper, the magazine, or watch the   6 o’clock news and hope to make sense of it.   Are these bad people out to deceive everyone? Or are they simply doing their jobs and trying to sell you something?  You’ll have to decide for yourself, but in the meantime I’ll continue to be an optimistic/realist.  Look for the opportunity that others don’t see.

 

Comments (6)

Stephanie Ballou
Keller Williams Coastal Realty - Dover, NH
The media no longer reports the news, it makes the news!
Apr 16, 2008 09:43 AM
Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team
Russ, great post!  Unfortunately I have to agree with Stehpanie, the media does make the news.  I hope that things are starting to get better in Southern California and everywhere else!
Apr 16, 2008 09:47 AM
Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes
Haha that's funny when I tell people statistics can lie they just look at me. I learned years ago in high school that you can skew statistics in whatever manner you wanted and the numbers would work.
Apr 16, 2008 09:49 AM
Jude Sandvall: DreamHomes by Jude
Brokers Guild Classic - Englewood, CO
720-427-1021
I agree with Stephanie, the media is so out of touch they simply will spout anything that will get ratings and/or viewers, readers, etc.  Rarely is anything fact based or supported by detailed information.
Apr 16, 2008 10:22 AM
Shannon Ziccardi
"A Quick Note" ...in Tennessee! - Clarksville, TN
"A Quick Note" Mobile Notary ...in Tennessee!

 

read my post from about 5 weeks ago...and the comments that follow it:

http://activerain.com/blogsview/409950/Why-do-I-believe

 

Chins up!!

Apr 16, 2008 11:16 AM
e h
ct - Victorville, CA

I hate the media, it gets customers all exited over nothing and leaves us to clean up the mess.

Oct 06, 2008 10:08 AM