Addressing Mr Piper's comment about financing... Financing has not dried up. You may have to work harder to find the right lender for your client but it is there, even for those with less than perfect credit. So again, misinformation - we are just as guilty in spreading it as the media.
No matter what your view is on HOW we got here the truth is that the picture is not as bleak as the media makes it sound. With some feed of the facts that we receive into our local media maybe Vicky is right, maybe that will help. Unfortunately I think they also have the same information but choose to keep things on the sensational level. Remember, no one reads positive articles or about heroes - they don't miss a word though about mass destruction or details of a killing. Therefore, good news doesn't sell!
Write and post blogs. Write and submit stories & press releases giving factual statistics that show the REAL situation, including the positive. Submit them to TV, newspapers, etc.
The economy is improving mainly because your money is no longer going into your gas tank!
Walstreet speculation created this mess! Not increased demand from China or India, it was all massive greed from Wallstreet oil barons
now that we all have an EXTRA 2.50 per gal extra in our pockets, people will be able to pay their bills on time!
We as Realtors need to be honest with people, while trying to bring out the positives of the current market. Buyers need to talk with the banks we show them handfuls of properties. Not everyone is meant for home ownership. Banks have money to lend, but the criteria has tightened up to get these loans. This is a step in the right direction in my opinion. People should have money down for this large of a purchase.
We also need to keep reminding clients that each market is very different, and that the media is taking an overall snapshot. These numbers are only that. You can not put any more meaning to these numbers than you would salary averages for the country, or unemployment for the country. Tell them honestly what your market is doing. Are you up, or down, and by how much. How has the average sale price changed in the last 12 months, etc.
If we are professional and positive, that will only help with our consumer confidence.
Michael,
It is a day by day and client by client effort that we will need to fight on the ground as agents. The reality is that a lot of the financing has dried up and that it really is only available for well qualified buyers. We as agents, need to resist the temptation to make a quick buck and throw those people who can't afford houses into them. While we are out educating, we need to make sure that we aren't slipping back into the old mode of selling just anyone a house - that is why we are in this mess to begin with.
Cameron Piper
It's up to those of us in the real estate profession to lead the charge, making sure the public has access to accurate information.
When given the opportunity to spread the good word, we caution people to not buy the newspaper and watch less television. It is true, people accept what the hear and read through these media forms and incorporate the information as part of their belief system, without processing it.
Michael, the problem is much bigger than the money lending issue.
I'm listening....are there any creative thoughts.
Bill Eckler
Excellent question - now if we could get the media to stop being so negative and scaring the wits out of people we may be able to turn our economy around a little sooner. Iti s a proven fact that good economics combined with consumer confidence makes for a healthy economic environment. The misinformation from the media is only delaying the positive aspects of our economy to kick in. I am so tired of sensationalistic reporting. There is money available and it is available for many people who think they could never qualify. I wish they would just let us help them. I had a client the other day that wanted to rent and apy $2500 a month. I suggested she look into buying and the savings to her both monthly and by way of tax savings was remarkable. She was buying into the hype of the media.
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