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Why Do Some Real Estate Agents Still Not "Get It?" All Real Estate Is Local !

For some reason, in addition to the national media continuing to paint the entire country with the ultra-negative news that is mostly happening in four states... California, Florida, Arizona and Nevada... too many individual Realtor agents also do not seem to be able to tell the difference between "the sky is falling everywhere" and "all real estate is local."

In a recent post, another Active Rain member was singing the same "paint the bad news with a broad brush" song with his negative mentality.

Below is a quote from that particular post:

Said the author:  "I was either bold or crazy enough to suggest that the overall drop in home prices across the country announced is"Good News"!! "

Many of his readers responded thusly:

I believe what those who attempting to question you were trying to say... myself included... was that your all-encompassing statement was not true. 

What I and the rest were trying to share with you is that there has NOT been an "overall drop in home prices across the country."  There are many, many areas where prices have NOT dropped... and are actually appreciating in value.

What I/we were objecting to is how you were choosing to paint a nationwide picture with a broad brush... that prices have dropped everywhere.  They Have Not !

There was another article put out by CNN/Money Magazine about foreclosures... and how they are rising at a record-setting pace.  It turns out that 89% of the foreclosures were from FOUR states... Arizona, Nevada, California and Florida.  The other 46 states had only 11% of the total foreclosures.

I am sorry the market in Arizona has experienced such a horrid drop in prices... but both of your (the writer's) posts made it sound like prices in the entire country have had a major drop... which they have not.

As a personal note... I have grown so weary of the national news media... as recently as yesterday morning on the Today Show... having so-called "real estate experts" on their programs showing their blatant lack of real estate market knowledge.  It just seems even more bizarre that so many agents inside "the business" continue to show that they don't know what they are talking about, either !

Comment balloon 22 commentsKaren Anne Stone • June 17 2008 01:18PM

Comments

California checking in!!!!!!   Well this was bound to happen, sorry that your state is getting the overflow of a bad rap!!!!

Posted by Aida Pinto, Real Estate Broker (562) 916-3237 (United Associated Brokers) over 9 years ago

Hyperbole such as what you are referring to does not serve to help the situation in those states that have been effected. It really demonstrates not only a lack of knowledge, but a lack of the initiative needed to acquire knowledge. You are 100% correct that all real estate is local!

Posted by Rich Dansereau (Positive Real Estate Professionals) over 9 years ago

It is all local but folks, especially the news media, do like to generalize.

Posted by Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC, ... a small office, delivering big service! (Waters Realty of Brevard, LLC) over 9 years ago

Hi Karen Anne:  I am thinking about putting "Responsible Journalism" right up there on my list below "Jumbo Shrimp" as my favorite oxymorons!

Posted by Steve Shatsky over 9 years ago

Aida:  I feel very badly for you, and for all my Realtor, lender and homeowner friends in California.  Florida, Nevada and Arizona, too.  I wish only the very best for all of you... but these media weenies, and a few Realtors just cannot seem to open their eyes wide enough to get the whole picture.  Aida... that's ok... feel free to lean on us if you need to.  :)

Posted by Karen Anne Stone, Fort Worth Real Estate (New Home Hunters of Fort Worth and Tarrant County) over 9 years ago

Rich:  I think you hit a big part of it that I missed.  Not only lack of knowledge, but a lack of the initiative needed to acquire the correct knowledge.  Rich... thanks for sharing your wisdom with us.

Posted by Karen Anne Stone, Fort Worth Real Estate (New Home Hunters of Fort Worth and Tarrant County) over 9 years ago

Gary:  You are correct.  It is never a good idea to generalize.  Wait a second.  I just did generalize... uh oh.  LOL.

Posted by Karen Anne Stone, Fort Worth Real Estate (New Home Hunters of Fort Worth and Tarrant County) over 9 years ago

Steve:  You forgot about "plastic glass."  And as far as Responsible Journalism, our world lost one of it's most responsible journalists last Friday.  We are all the less with the passing of Tim Russert.  Many of the stories about him mention his Catholic upbringing, the nuns in grade school, and his Jesuit education with it's almost obligatory minor in philosophy at John Carroll University... and then his law degree at Cleveland Marshall Law School.

I, too, had the nuns in grade school, and also graduated with my major in Psychology and my minor in Philosophy from the same John Carroll University in Cleveland.  Their uniquely high quality brand of education served Mr Russert so well.  I miss him already.

Posted by Karen Anne Stone, Fort Worth Real Estate (New Home Hunters of Fort Worth and Tarrant County) over 9 years ago

Karen - Anne -  I commented on that blog as well.  The trouble is that this sort of nonsenes creates  HAVOC when I take out buyers. Our area has been a fascinating hodgepodge of  price craziness. Areas near public transportation and within about 40 minutes of Manhattan have appreciated. Other areas have gone down significantly.  It's HYPER-Local around here.  Just a few blocks can spell the difference between a price increase and a price decrease.  Clients find this confusing.  Most of them WANT to live where there have been increases....but they get angry when they see that just a few blocks away, there have been decreases - which they won't benefit from - because like EVERYONE ELSE, they want the same location.  What doesn't penetrate is that the same criteria that is drawing THEM is drawing everyone else and their pet canary. They keep hearing about the great "buyer's market" yet it doesn't seem to benefit them and they are madder than wet hens about it.  Sometimes I actually get the feeling they think I'm "hiding" the good stuff from them to increase my commission.  RIDICULOUS!!

 

Posted by Ruthmarie Hicks (Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605) over 9 years ago

Ruthmarie:  I remember reading your comment.  I have been sitting on this post... trying to decide if I should post it or not... so I just did it.  But, I am so tired of all this nonsense.  I can understand the talking heads on cable... but to have experienced Realtors perpetuate this fable is just beyond me.  Thanks for sharing... take care... and try and keep your chin up !

Posted by Karen Anne Stone, Fort Worth Real Estate (New Home Hunters of Fort Worth and Tarrant County) over 9 years ago

Ohhh...that was a good vent........!  You are right real estate is very local - here the market can be different from one township /municipality to another................it can be high in detached, low in attached.........there are so many differences, tht make each market area unique..........not a good idea to 'broadbrush'...why would one want to?  hmm

Posted by Liz Moras, Chilliwack Realtor, Garrison Crossing,Chilliwack, Abbotsford (Harrison Hot Springs, Cultus Lake) over 9 years ago

Hi Liz:  Yes, that was a good vent.  I feel better now... LOL.  I am guessing your market in Chilliwack is doing pretty well.  Yes... every city even has many, many mini-markets and neighborhoods that can vary greatly one from another. 

Posted by Karen Anne Stone, Fort Worth Real Estate (New Home Hunters of Fort Worth and Tarrant County) over 9 years ago

Thanks Karen-Anne, I'm trying.  With interest rates as they are and prices at least softened, this is when people SHOULD BUY. It's maddening!  Yet sales in my immediate area are down 35%.  Brokerages are closing their doors. The only thing that hasn't dropped is the part-time agent population that use real estate to earn pin money.  We didn't have as much buildable land as the areas that got into trouble.  Pubic transportation to Manhattan is driving the market prices. It's spotty. Some municipalities have a station - others don't. Parking permits for the train stations are issued to resident's where those stations are located EXCLUSIVELY.  In White Plains, there is a two year waiting list for a permit!   That makes specific municipalities pure gold and with a location just 20 miles and 30 minutes north of Manhattan - its going to be expensive to live here - that is until Manhattan is under water from global warming!  I feel Donna's pain too when she wrote that blog.  People hear this stuff and then she has to unscramble the eggs because hers is a decent market.

Why agents don't "get it" I can't say.

Posted by Ruthmarie Hicks (Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605) over 9 years ago

There are 50559 Active listings for homes for sale in Maryland.  There are 595 Foreclosure/REO listings.

Yet, every other contact I get from a consumer is someone looking to find a "deal" with a foreclosure.

It's the media.

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) over 9 years ago

It is the MEDIA!!  I keep having clients who listen to the national media and think our sky is falling also.

I actually just had a call from a reporter with the Houston Chronicle (one of my clients had referred her to me) who was trying to write a story about what was happening in our local market and keeping it positive.  I guess we are an anomaly all the way around.  . 

Posted by Marchel Peterson, Spring TX Real Estate E-Pro (Results Realty) over 9 years ago

Hey now...  Don't start generalizing California either!  Even we have areas that aren't overwhelmed with foreclosures.  :)  Although I do understand your point.

Posted by Sandra Carlisle, Residential Sales & Property Management (McMonigle Team) over 9 years ago

The media? Why would an agent listen to the media? Oh I know, he/she wants an excuse for why their business is so bad and then whine about it.  When someone asks me did you hear what they said on the news today, I say no. The media is not the place to learn about your area and if you have a moment I would be happy to fill you in on what is really happening right here where we live.

Sure will be glad when all those 'sky is falling' agents move on. Thanks for a great post.  

Posted by Martha Brown, Your Homes Around Annapolis Agent (Long & Foster Real Estate, Inc., Annapolis MD 21403) over 9 years ago

Those newscasters have a tough job.  How would we like to have to fill up 24 hours a day with news!  We'd grab anything just to keep on talking.  Personally, I'd like fewer news channels but I don't listen to any of them anyhow.  I read the newspapers for my news.

But in our little corner of the world, Searcy AR, things have actually increased in price and things are selling well. So you are right.  Real estate is local.

Posted by Barbara S. Duncan, CRS, GRI, e-PRO, Executive Broker, Searcy AR (RE/MAX Advantage) over 9 years ago

Hi Karen Anne.....my turn to chime in.  Real Estate is local, what goes up does come down, the market is cyclical and so is the economy, there is an ebb and flow in real estate as in life.  Well then the press and media sells not on good news but frenzie.  So here we are.....the areas that are experiencing a poor market....this too will pass.  ok that is my two cents!

Posted by Pam Winterbauer, "Providing Blue Ribbon Service" (Pam Winterbauer Real Estate) over 9 years ago

Hi Karen Ann...didn't see the post you're referring to...but maybe it was just a case of misery loves company? LOL

Posted by Joan Mirantz, Realtor, GRI, CBR, SRES - Concord New Hampshire (Homequest Real Estate) over 9 years ago

Karen,

Unfortunantly, bad news sells and good news isn't marketable. As long as the general public keeps buying it the National media will keep exagerating to gat peopple to tune in and buy more papers and magazines. News these days is not so different from buying a copy of National Enquirerer. Great post I enjoyed it.

www.goseecindy.com

www.yourpowerhouseteam.com

Cindy Cranston--RE/MAX Vista, San Antonio

Posted by Cindy Cranston (Fulmer Realty- Floresville, LaVernia, San Antonio) over 9 years ago

Cindy:  I am so glad you enjoyed this post.  We continue to be battered by the national media that cannot get it through their think heads that the market in Tampa is different from the market in Fort Worth or San Antonio.

Also... about your two links in your comment.  I would be pleased if you would remove them... they are in violation of Active Rain guidelines.  Also, I am curious.  The first link goes to a RE/MAX blog, while the second link is branded with Keller Williams.  It is confusing.  Thanks for removing the links... take care...

Posted by Karen Anne Stone, Fort Worth Real Estate (New Home Hunters of Fort Worth and Tarrant County) over 9 years ago

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