A REVOLT. That's what has to happen. Some of us will be DAMNED if we'll buy in to the mainstream media 'script' about the sorry state of the market.
I'm not in denial. I recognize the recent slowdown in home sales and some very serious financing issues within the industry. But these are short-term obstacles that will be behind us in no time.
I'd love to see an all out media campaign blitz that would counter, even take-on the gloom and doomer message that now dominates. Matching the sheer volume of published material would be an awesome task at best.
I believe that there is a pent-up demand for homes. Particularly in my neighborhood (Nevada). But buyers cannot or will not buy right now because they're listening to the script. People need to be made aware of FHA and other loan products along with the lowering of interest rates and other positive items in the mix.
Those who won't buy because of market uncertertainty are SEEKING OUT the positive side of the story. The more written material with an optimistic slant they see, the sooner we'll see investors and the like snatching up homes with the expectation that prices will appreciate again soon. This will mean profit for fixer-uppers, foreclosures and flips.
People need a reason to buy, but if all they hear or read are reasons NOT TO, it can be difficult to justify.
What about industry experts predicting a REBOUND in March 2008? Do you think that message has been in the faces of enough potential buyers? I don't..
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Nevada REALTOR®, RRG A seasoned professional w/particular expertise in New Home/Builder Negotiations, Foreclosures, Bank Owned & Resale Property. Degreed in Marketing w/more than 30 yrs experience.
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I love your attitude, Keri. It's nice to hear your optimistic approach!
Keri, You are absolutely correct about the negative effect the media has on the market. We are already in deep sh*t with the subprime mess, oil prices, and declining home prices. if the moronic media would work as hard at promoting a positive image as it does at harping on the negative, our recovery would be a lot quicker.
Agreed. Things could certainly be worse! It's a great time to buy, so where are all the buyers??? They're going to miss out on the perfect opportunity because they are listening to the media.
I am with you. It is so far out of place to say "The Market is doing well". I have plenty of Buyers just waiting and it will be to late to get the good ones when the cycle starts.
Yes, the media is all about the "hype". Headlines are so much more interesting if they cause anxiety in viewers and readers, it makes them "stay tuned" to watch or buy more papers so selling more advertising.
Keri I'm glad to see that I'm not alone in thinking that way. I'm alwaystrying to look at the bright side if you read the blog I just wrote. I said in there that I always see the glass half full instead of looking at it as half empty. I am so tired of the media whether it be the newspapers or the television of always saying how bad everything is. The news media has taken such a negative slant in everything that they report. They never show the good things that are happening because it deosnt sell news.
No one has a crystal ball. I remind my buyer clients of the last time the market changed to a sellers market and how one buyer ended up paying $60,000 more for a similar house but they tell me they heard it will not change till 2009 and can I guarantee the market will improve in the spring?
I have sellers who had a buyer offer a certain price for lease purchase in a year, and the seller said he wants much more because the market will improve next year. He would rather rent this year and list after one year.
There is so much information out there I continue to ask my buyers, do it because you found the right home for you. And stay there for a while!