Sunday, October 2, 2011
Media Clouding Housing Market
Constantly in the news media, newspaper, and television we hear how bad the housing market is. People make estimates on when and if the housing market will ever pick back up, but frankly its like a weather forecast and therefore cannot be exactly predicted. As bad as the media wants to make it, 2007 was the 4th best year in over 35 years of record keeping. A home that is priced right, in the right condition, and aggressively marketed will sell. People are still getting the price they want for their homes, but they just have to find the right buyer.
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This is an interesting post. It is interesting to look at all the variables mentioned above: priced correctly, right condition, aggressively marketed and a right buyer.
ReplyDeleteThe housing market is definitely crippled but not broken. These variables mentioned above are for a lucky few living in a housing location with high demand. but there are countless homes that cannot be sold for half the retail value.
Another interesting variable is something I remember from a Chuck Stull class about realtors. There is little incentive for a realtor to aggressively market a home, because the return the realtor receives does not compensate the effort needed to "aggressively" market a house.