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.
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
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.
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.
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!
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!
Welcome to Active Rain. I hope you enjoy it as much as I do! Happy Blogging.
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
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.
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!
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!
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
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.
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!
Local is where it is at - for better or worse. My local market we are starting to see more multiple offers.
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.
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