The Press and the Real Estate Market

I work in Northern Virginia, outside of Washington D.C..  For ease of reference, we are often clumped by the press  into the "Washington,DC" market, but our market behaves differently than either DC or Maryland.

For the past year, I have watched the local and national reporting about the real estate market cause things to jump around and behave very strangley. Is it only me, or do other folks believe that the press is acting very irresponsibly by creating panic in markets that would not otherwise be as problematic as they have been?  I am in the trenches every day working with buyers, sellers, lenders, appraisers and settlment agents and I have seen over and over again the changes in the market coming almost immediately AFTER specific problems have been reported.  I understand that the press looks at a small situation and forecasts what it COULD mean for the broader market, but come on, I think the press is jerking us all back and forth!

Just this week, it was reported that the Washington,DC market was down, both sales prices and transactions. Well, guess what?  Virginia sales figures were up!  That was not reported in the same article. My clients read these articles and panic.  Buyers don't want to buy and sellers don't want to sell. 

I know that the downturn is news--believe me, no one pays more attention to these stories than I do--but how about an occasional positive slant? There are some real positives for buyers. Even sellers can be sure that the buyers are serious candidates. 

Does anyone else have any thoughts on this? Does anyone else think that real estate reporting has become very irresponsible?

 

If you like what you've read, please consider subscribing to my blog by clicking on the Orange RSS button and following the instructions. Thanks!

 Momentum Realty

A GREAT Real Estate  experience.

If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

 

 

Save

Comment balloon 3 commentsHolly Weatherwax • August 29 2007 02:18PM

Comments

Holly

I agree that the press is being irresponsible. Not sure why they keep pounding on an issue until it comes true. Happens with so many things...

All the best from Charlottesville!

Charles McDonald
REALTOR, Licensed to sell Real Estate in the Commonwealth of Virginia
http://www.mycharlottesvilleagent.com/     http://www.mycharlottesvilleblog.com/
"Whatever your mind can conceive and believe, it can achieve." - Napoleon Hill

please subscribe to my blog by clicking here. 

Posted by Charles McDonald, REALTOR®, Blogger, Principal Broker®, Owner (Charlottesville Real Estate Solutions) almost 11 years ago
Yes i agree with you 125% they press and the media in general are making matters worse. They have taken a negative slant to everything from politics, the president, the war, everything coming out of them is spewing negativity and hate. Well I for one have stopped advertising in the newspaper. I also tell other realtors here to do the same. Why should we pay them and then they turn around and bash our industry every chance they get. I can tell you what I would like to tell them what they can do with there paper. Take care sweety and have a better bad great day.
Posted by Steven San Filippo, SRES (Right Choice Realty LLC) almost 11 years ago
Hi Holly, just this week I posted about an article in our paper that was telling the consumer to "dump their agent to sell their home faster"... the author based his directions on a study in Wisconsin on homes sold from 1998-2004... not to mention it was in the Sunday paper, with thousands of real estate advertising dollars being spent a page after this article... VERY Irresponsible.
Posted by Allison Werner (To Be Announced) almost 11 years ago

This blog does not allow anonymous comments