Members of the Media reporting on the housing market – would you shut the hell up?!!
Members of the Media reporting on the housing market are giving the public a very skewed view of the reality of our real estate market. It may be a “Buyers Market” in some areas and a “Sellers Market” in another. While home prices have declined in some markets, they are completely stable in other areas.
It’s my job to educate my clients in my geographic area and it’s YOUR job to report the news accurately. You can’t talk for five minutes about how HORRIBLE the housing market is, then close with a ten-second disclaimer that “local markets vary.”
How has your irresponsible reporting affected my job? My Tulsa home Buyer considered putting an offer on a home that he loves five weeks ago, but after hearing YOUR report, he decided to wait a little longer – just in case we “hadn’t hit bottom yet.” He still wants to offer 15% below list price because he HEARD you say that no one should pay full price in “this market.” In the meantime, he’s lost over $10,000 due to the increase in interest rates in the last five weeks.
Members of the Media reporting on the housing market – would you shut the hell up?!!
And my home Seller received two offers this week on her property – both well below asking price. Thankfully, she doesn’t HAVE to sell and has the luxury of waiting on an educated Buyer to make an offer on her Tulsa home for sale.
So, members of the media reporting on the housing market, why don’t you PREFACE your reports that markets differ geographically? And while you’re at it, why don’t you report on some of the areas of the country that are on stable footing? In other words, do your job and let me do mine!
