It is amazing to me whenever any industry is on fire or struggling how many so called "experts" are giving their two cents worth that in reality isn't worth a fraction of a cent!
If one has watched the "Today Show" in the last couple of weeks and took the information to heart you would be scared to buy real estate and scared to be a Realtor.
Within the last two weeks the NBC Today show has told viewers:
- Don't buy a home in today's market
- If you buy a home offer a lot less than asking price
- Buyers sue Realtor for overpaying for home
I remember during the 2005 market there were comments being made by the media that the real estate market of that time would last 5-10 years and there was fortunes to be made in real estate.
In contrast, I can go online, listen to the news on T.V. or radio and hear every so called "Expert" telling us why the real estate market is in the toilet and what you or I should or should not do. The so called "Bad real estate market" will last 1-4 years depending on who you listen to.
I have seen too many fortunes made in my lifetime where individuals paid no attention to the media and purchased real estate when they chose to. 99.9% of the time these individuals made some serious returns.
I have also seen individuals that were always "waiting for the best deal" to come along and never ever purchased real estate or purchased at the wrong time and never made good investments.
One can't help but wonder what percentage of the real estate sales the past 12 months have been controlled by the media.
I have turned the news off and if I want to hear anything at all I am putting my IPOD headset on and listening to something that at least makes me smile.
I also change my mind and last night decided I will be attending the annual RE/MAX Convention in Las Vegas this March. I am going with a mindset to attend many of the awesome classes offered and to surround myself with a lot of positive minds and top achievers.
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George, George, George. I love this.
If it were easy to get rich trading real estate, real estate agent folks would all be rich.
If real estate folks are not all rich, what makes the consumer investor believe that they can become rich in real estate.
It must have something to do with those infomercials that sell a lot of books and tapes. That's where the money is.
George,
Great advice.... turn off the news and surround yourself with positive people! Be your own 'expert' and make the market work!
What a Great Title George. Backed up with a great post.
George,
The papers & the TV news are in the business of sensationalism and will report anything that makes them money or get higher ratings. We need to educate our clients on what is happening in our market, not what is on the news. Great post!!
Len - Thank you very much and have a great weekend
Jim - Very, very true!
Martin - Amen!
Joan - Glad your market is well!
Herb - Thanks my friend!
Steve - Let's hope more and more people ignore the news!
Harold - Yes, sensationalism is what they are after!
Missy - I did not, thanks and I will check it out
George - Great post and I agree! Off with the news and on with the iPod.... see you in Vegas...with all the top achievers!!
George - if anyone follows the media patterns they will see that the 'scoops' go with the way the wind blows. They go up and down more than a roller coaster.
A person investing in real estate will still be making a more solid investment (in the long term) than these doggoned wonder-kids that are day trading and living on the edge. I like to think that there is a whole populace out there that has common sense. But - I have been disappointed before.
George,
I turned the tv off a long time ago. I tell my buyers the truth about our market and I think more and more people are beginning to realize that the sky hasn't fallen. We need to be the source of the truth for our clients and help to guide them in today's market more than ever before. Good post, thanks.
Hi George...The whole Real Estate market is having a Giant Home Sale...and the Press is saying you're not.
Donald trump was on TV a few weeks ago and he told the viewing audience to buy real estate within the next six months because it will bottom in 6 to 12 months!
maybe someone should listen to Donald! ...Like the Press ...but then again they beat him up when he was down too.
Cheers, Talk to your clients let the know it a great time to buy
Candace - Thank you my friend and see you soon!
Carol - Very true my friend
Andrew - Good for you!
Fred - Thanks for sharing my friend
I stopped being upset about the reporting of the real estate market six months ago. In South Florida we are being pounding with this kind of reporting. What matters is how an individual reacts to the reporting. The smart money knows that the best time to buys is when everyone says it isn't. And or, when everyone else is selling. I guess that makes me a contrarian. The smart money isn't watching the Today Show, but thats beside the point.
I explain to my buyers that we won't won't know where the bottom was until prices have already begun to rise. If you are buying for the long term you can't lose. You also will never see this many choices again. I do agree that buyers should make agressive offers. I guess I ran out of sympathy for sellers about the same time.
Very true Tom....Hope you have a great 2008!