I love Granny Carol's Blog. I am so glad she made this available for a re-blog. Enjoy!
You know what really ticks this old bird off? (Of course you don't, so that's why I'm asking you!)
I get ticked off when the media just blurts out some figure that is erroneous or has nothing to do with the cost of tea in China!
Remember when they interview that fellow from Redfin? I mean, the interview was filled with a bunch of nothingness which just left anyone with a brain- scratching their heads from disbelief, and the only question you can think of is "What the heck was the purpose of that gibberish being televised?"
Much of the news media is totally irrelevant, they're a bit like the SEAGULLS that fly in from the ocean somewhere, only to drop a load of (You know what) and then head back out to sea as if there was no actual purpose for the flight at all...other than to diddle on my patio furniture!
That's sort of what the media does with so many news items...they drop headlines loaded with crap on the public...then before you know it, they're gone and its on to a commercial or the weather...disappearing back out to sea...just like the seagulls!
Recently a client called me to confirm new and alarming information regarding what she has just heard on some national television morning show. Property down 60 percent! Wow, where the heck were they talking about...Siberia?
What the irresponsible news reporter didn't bother to explain was the difference between number of sales reported verses the sales prices, nor exactly where these prices were down. The difference...HUGE!
But the media doesn't bother with explaining that difference! I often wonder what the heck happened o responsible journalism. Instead of the children's computer game "Where's Waldo" how about Where's Walter? (As in Cronkite) we need some responsible news reporting!
(FYI: Attention all Realtors under the age of 12, click on link) http://en.wikipedia.org/wiki/Walter_Cronkite
In my community, sales prices are down about 30 percent in some areas of town. Yet, in other areas of town, prices are down only about 5 percent, still in some areas the prices are up 5 percent. How confusing is that for people to understand. However, sales volume (NOT PRICES!) are down about 35 percent in our area. That being said, sales volume in some of our neighborhoods are record high this month, including a few sales taking place only hours after the property is listed, and garnering multiple offers and prices over asking price...go figure? Where's that news reporter with those particular figures? Those flipping seagulls lurking in dark corners where you least expect them to be...don't even ask about the dad-burn Pelicans and the mess they leave!
You can imagine my client being alarmed by the news reporter announcing that property sales were down 60 percent...when she thought she knew the truth about our local marketplace.
So many folks watch the national news programs, and rarely do any reporters distinguish the difference in these not-so-subtle aspects of the real estate market. Firstly being that all real estate is not the same. Homes in Missouri are not ever going to be equal to homes in California, as typical homes in California are never going to be equal to the penthouse at Trump Towers in New York City...there are way too many variables. Having Donald for a neighbor being only one of them! (He can't get enough of Granny's blog by the way!) Another link for any 12 year old Realtors out there. http://en.wikipedia.org/wiki/Donald_trump
I think that the national news folks need to make clear what they are talking about when they make their seagull type proclamations on air. Especially since real estate is still all about the condition of a specific property, as well as all real estate being about location, and all locations NOT being equal.
They also need to differentiate what they mean by sales being down (Or up!) because as we all know, sales volume has to do with the number of properties that have closed escrow, and sales prices has to to with the PRICE paid for a property.
That is when the buyers and sellers of the world get confused...they need to be educated as to the differences...and that they should only listen to more localized news reports when it comes to their real estate comparables, breaking it down by county, city, neighborhood and finally comprables withing their own tract of homes and their identical model of home.
Anyway...THATs the type of irresponsible reporting that this old gal gets ticked off about, all those...blanket comments made by mainstream media...blankets that don't cover the whole country and blankets that don't exactly reach both sides of the bed.
That's the kind of stuff that grinds my dentures!
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