Real Estate Hype 2008-2009
Author: Juhlin Youlein

Since 2006 the media has butchered real estate. It seemed that
every time the 6:00 news was on there was some horror story
about foreclosures or depreciating markets. The market has been
bad, but it has been worse because of the negative coverage. The
negative vibe in the media echoed through the real estate
market.

Well things are at the beginning stages of a turn around. The
media is right back in there with their hype, this time
positive. Is it going to have the opposite effect that it did
when the market was turning bad?

Real estate value use to be based on the last comparable sale
in the neighborhood. In the down turn real estate became worth
only what somebody would pay for it, which isn't very much. With
the negative vibes in the market the active homes for sale on
the market were being priced well below the last comparable
sell. It was a downward spiral. It seemed every time the media
came out with something negative it only got worse. Real estate
became emotional. Comparable sales didn't mean anything.

Now with the hype that this is the time to buy, we may see the
opposite effect. So what does that mean for you? Well in my
opinion if you are a home owner than it is great!. Hype isn't
all bad if it will counter balance the bad publicity we've had
so long in this market. With the government reinforcement, the
positive news coverage, and the low interest rates things
definitely can change for the better. In the post when the
government has given incentives to buy real estate and the media
coverage publicized it, things got better fast. Anything can
happen at any time. Is this the time? It may be.

Well what does this mean for buyers? Should you schedule an
appointment with a realtor and go buy a house this weekend? The
answer is it is up to you. All you can do is watch for the signs
and make your best judgment. There are always opportunities in
the real estate market wether it is down or up. In my opinion
there are more opportunities in a down market, but they take
more work. If you are looking to buy a home to enjoy and live in
yourself than this is a great time to buy. Take advantage of the
vast inventory of homes. Never before have there been so many
homes to choose from.

Well what about working with a realtor? Every realtor is
different so find one that is looking out for your needs. Did
your realtor encourage you to buy a home in 2005 right when the
market crash? Did your realtor openly talk to you about the
declining market even though you were a buyer? If he or she
didn't than maybe you should find a new realtor who is more
cautious of your needs than their own pocket book. There are
plenty of good realtors out there, look for an honest one who
can decipher the hype.


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