Media and the Alabama Market

Everyday it seems that the media is spreading more doom and gloom about the real estate market and how bad it is. The economy is questionable at best right now but it is nothing that cannot be overcome. The media's role in this is to paint the picture as being worse than it is.

I heard some really interesting statistics today that makes the Alabama Real Estate Market not seem as bad as what is being touted by the media. These stats are as follows:

NV,CA and FL make of 50% of the foreclosures on the market

Add GA, CO, MI and OH to that number and it is 80%

However, 30% of home owners have no mortgage at all and a staggering 91% of homeowners are making their payments on time.

Knowing these statistics certainly sheds a different light on the market for me and lets me know that there really is hope for the market afterall. It is hard everywhere with the bailout bill, gas prices being outrageous but if you look back in history most election years have some uncertainty in the economy. Some years just more than others.

My point in all this rambling is that it is not as bad as the media is making it out to be. There are still buyers out there and there are still sellers, we just need to work harder to get and keep them.