Market Thoughts

By
Real Estate Agent with Better Homes and Gardens Rand Realty

There has been so much media play at the national, regional and local level about thecurrent state of our real estate markets.  Although it might be spellbinding, if not depressing, news, the fact is all real estate is local.  So for good or bad, buyers and sellers need to be primarily concerned about what is happening in their specific community.  When our local media creates a barrage of reports on the decline/reversal/free fall of the market, the greatest influence on the market becomes less economic conditions, and more the danger of self-fulfilling prophecy as a result of real estate reports. How does one escape the trap of being influence by the media reports and make decisions based on market facts?  Talk to a local Realtor--they can provide you local statistics about the number of homes that are currently on the market in your area, the number of homes that have been sold in your area, the average selling price, the average days on market and other market facts that will give you a more definitive basis for understanding the dynamics of the market in your area.  As Realtors, we can also give you information on how homes similar to yours have sold in our current market.  Remember even in this market their is good news---buyers and sellers can make good deal--if it is the right deal for them--in any market.  Buyers, rejoice--there has not been such a good time to buy in recent history.  Sellers--remember--your house is not the entire market. The successful sale of your home only takes finding one buyer--the right buyer for your home--and a great Realtor will find that buyer for you.

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Comments (17)

Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

We all need to start educating our buyers, sellers and the media.  We have all focused on the bad market long enough.  If we all start talking positive, it will begin to go in that direction.  Try it, it will happend.  Make a change...make a difference.  Let's get on the Band Wagon and DO IT!!!

 

Roxanne Schilling, Realtor at Lake Tulloch in California

Jun 19, 2008 04:18 AM
Carrie Perez
Elk Rapids, MI
MBA

People are so entranced by the talking heads that they never even do the real research or dare to think otherwise. They simply believe what the media says is fact...which so often is a small fact sensationalized into way more than what it is. People are learning that the news does not mean the truth, though.

Jun 19, 2008 04:29 AM
Edward Balcsik
Law Office of Edward Balcsik - Chicago, IL

As the old saying about real estate goes, there are only three things that matter: location, location and location.  The news media tends to concentrate on national figures and to some extent dramatic figures.  News is a business and drama sells.  But even in this current downturn some areas of the country remain strong.  More to the point even in a local downturn some area might remain stong.

Chicago metro is in a downturn.  Still some neighborhoods and suburbs have seen increases in sales and/or median price.  The city center has remained a vibrant market.  Areas close to public transit seem to be holding up better than areas without it, perhaps reflecting concern over gas prices and travel times.

 

Jun 19, 2008 04:33 AM
Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Welcome to Active Rain and congrats on your first post.  Be sure to spend some time looking around at what and how others are blogging here.  It is a great education and lot s of fun.  Looks like you're off to a great start...keep it up!

Jun 19, 2008 04:36 AM
Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Welcome to Active Rain and congrats on your first post.  Be sure to spend some time looking around at what and how others are blogging here.  It is a great education and lot s of fun.  Looks like you're off to a great start...keep it up!

Jun 19, 2008 04:41 AM
Stefan Geyer
SOA Realty - Aurora, CO

Thanks for your post and welcome to Active Rain!

Jun 19, 2008 05:16 AM
Crystal Corr
Keller Williams Greenville Central - Simpsonville, SC

Welcome to Active Rain. I hope you enjoy it as much as I do! Happy Blogging.

Jun 19, 2008 05:35 AM
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm

Jun 19, 2008 09:11 AM
Bill Kennedy
Keller Williams Greenville Upstate - Greenville, SC
Homes For Sale Greenville SC

Welcome to Active Rain!  This is a great site for learning and sharing - plus you'll get to know some awesome people from all over the country.

Check out some blogs, join some groups, and have fun!  I look forward to reading some of your future posts.

Jun 19, 2008 12:26 PM
Anonymous
Anonymous

Congrats on joining active rain! This is a great site to meet new people and network with I look forward to seeing you around! Enjoy.

Jun 19, 2008 01:43 PM
#10
Connie Rice
Keller Williams Greenville Central - Simpsonville, SC
Connie Rice & Partners - Greenville, SC Real Estat

Thanks for joining! Youve found a great place to meet new people. I look forward to hearing more from you in the future. Enjoy and happy blogging!

Jun 19, 2008 01:51 PM
Kirk Westervelt
Van West Realty - Greenville, SC Realtor -Short Sale Expert! - Greenville, SC
Kirk Westervelt, Broker In Charge, Van West Realty - CDPE - Short Sale Agent - Home for Sale - Greenville, Simpsonvil...

Hello,

I would like to welcome you to Active Rain!

I hope to see more of your blogs in the future!

Educate us, learn from others and don't forget to have a little fun while you're at it!

Take care!

Jun 19, 2008 03:39 PM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Noreen,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

Jun 20, 2008 09:08 AM
Peg Gilliland
Charlottesville Solutions - Charlottesville, VA
Broker, GRI, CDPE

I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.

Jun 25, 2008 09:45 AM
Mike Klijanowicz
Cummings & Co. Realtors - Perry Hall, MD
Associate Broker @ Cummings & Co. Realtors

NOW IS THE TIME TO BUY AND MOVE TOO!  Interest rates are at all times lows and paced to go even lower (they hope).  This is going to help feul the 2009 BOOM!  Get in now before the BOOM starts, because it is coming soon!

Dec 04, 2008 11:47 PM
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

Local is where it is at - for better or worse. My local market we are starting to see more multiple offers.

Jun 15, 2009 06:23 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Noreen-- I followed you here from a comment you left on my blog recenly.  Please consider posting your own material here at ActiveRain.  I have been a member for a year and have gotten to know a few people and have learned so, so much from everyone.  I will watch for your next post.

Aug 09, 2009 05:54 AM