Cindy's Blog

There are a couple of things I just need to get off my chest. First of all, real estate markets are local, not national. I just finished reading a rather annoying (on a number of levels) article on a real estate news site. The problem had begun when there was article in the local paper (in another market) about the horrible state of the real estate market , and it created a firestorm of controversy.

Seriously, it really is ridiculous- the media really does focus only on the bad. When the market was great, there were no headlines (that I recall, at leat) saying, "Hooray, the market is great!" If I recall correctly, they were something more along the lines of "how long can this continue," "prices are out of control", "the markets are overheated..." It is the bad news that sells papers, whether the topic is Britney Spears or the real estate market. Period.

Now, having said that, there are definitely homes that are sitting longer, and homes that are having multiple price reductions, that a few years ago would have had multiple offers, but overall, our market is not as bad as it is in some areas of the country. It's just not.

The other thing about this article that annoyed me was that there were agents who wrote in outraged about the article, and not just because it may not be true in their area, but because they felt that because they spend their advertising dollars with that paper, there should be some sort of bias about the way the news is printed.

Fundamentally, the stories should be about not only the national story, but the local one too. Balanced, and including the local angle. However, is it so hard to see how bad that makes this profession look when we expect to influence the news because of our advertising dollars? I mean, I'm all for an editorial rebuttal, but seriously!

We as realtors are only going to improve our reputation when the sleazeballs and the numbskulls get out of the business, and the people who really are in it for the long haul, understanding that it is all about the client, not all about the commission.

I will take this opportunity to mention, however, that the National Association of Realtors did just release the figures for the month of February, and while numbers are down since last year, by nearly 24% compared to last February, but the good news is that the numbers were slightly up from January, showing that for the moment, at least, there appears to be a temporary halt in the downward slide nationally.

In our area, it is not as bad as many, but no one is delusional enough to think that everything is coming up roses. I mean, gas is $3.50 in Richmond, for Pete's sake! That's crazy! However, despite all of the questions about the economy, there are still awesome rates, increased conforming and FHA limits, plus lots of great deals to be had. While it's perhaps a dubious time to sell (although again, things are taking longer, but if they are in a good location, well maintained, updated, and some care is put into getting them ready for the market, they will sell), it is all relative, and while you might sell for a bit less, you will most likely get a home for less as well. It's all relative...