Have ya ever noticed that it's always the bad news that seems to get all the press?
Our favorite shows are only interrupted with "Breaking News" that would alarm or scare the viewers..."A gunman is loose"..."An apartment building is on fire"..."A child has been kidnapped"...
Yes, these are all important stories, but isn't good news ever considered to be just as important?
My point is that right now, all of the media networks seem to be having a hey day reporting the bad, bad real estate market. "Foreclosures are on the rise"..."Families are losing their homes"..."Mortgage companies are going under"...
True, true and true.
But what about the buyers out there that are being able to move up to a new standard of living, simply because today's home values, combined with outstanding interest rates are allowing them to do so?
What about the people that never before would have considered keeping their existing home as a rental property, but that are now increasing their net worth and allowing someone else to make one of their house payments for them?
These aren't the stories that seem to be making the headlines.
And of course, how can we forget the current incentives for first time homebuyers? I wish someone would have given me an $8,000 credit when I bought my first home! Do the newscasters ever break in to tell us another first time home buyer just got $8 grand direct deposited into their checking account?
I don't think so!
What worries me the most about this is all of the people that cling to the nightly news to try and stay current with the local real estate market.
The local media is NOT current with the local real estate market. They never are!
By the time the media is telling you the market is better, it will mean the market has been better for quite a while already. Then people will frantically run out and try to buy something because the media has made them feel "safe" to do so, but by then it will be too late.
The best deals will be gone because the savvy buyers were out grabbing them left and right while everyone else trembled on their couches...wondering if things would ever get better.
Remember what Warren Buffett said..."Be greedy when others are fearful and fearful when others are greedy!"
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