Thursday, November 8, 2012

Stats and Philosophies vs. the Housing Market

If more than half of your friends and family members bought a new car this month, would that make you go out and buy one?

I didn't think so.

But some unknown reason far too many people think this way about the real estate market, and therein lies at least some of the problem. Statistics and philosophies have become dominant. Not overly positive, and not overly negative (for a change). Just dominant.

If you want positive stores about the real estate market, you don't have to spend as much time looking this month as you did a few months back. Here is one example:

Although the above story provides encouraging statistics for the local Washington (state) market, I find one important element lacking in this story. Specific local market reasons why. The story fails to provide even one reason for the increase. It's as if they think that buyers and investors are going by the statistics from six months or a year ago.

Personally, I have not been to the area featured in the above story link. But after reading that story, I have no idea WHY those properties seem to be more in demand this month when compared to the recent past. Is there a lot of new construction? A new shopping development? A new expressway? Did the property taxes drop?

In other words, what is the cause? Now, I don't mean for this to be negative. What I do mean is that, just as the realty agents and associations should not be releasing negative market statistics (like they have been doing non-stop for the past three years), they also need to provide a positive slant.

I'll put it this way. Home sales in that area are clearly on the rise. But that also means more people are selling and getting out of there. Or does it? With nothing to indicate WHY people are getting out, it could negate the positives of why others are moving in. I don't have the answer. But that's my point.

Yet, it is not just statistics. There are those who are overly philosophical. Over the past three weeks, I had several potential clients (for advertising services) tell me that they "want to wait and see how the election turns out". The 'wise guy' in me wanted to call them on Wednesday morning (hours after the election was complete) to ask them if they are ready to move forward.

I'd love to have been able to ask them what they thought could change. Aren't they still going to be in business and needing to attract more clients after the election, no matter what?

All houses are not the same. Some are larger, some smaller. The number of bedrooms and baths differs, and so on. It takes a lot more than statistics and philosophies to get them bought and sold. If only that information was more readily available.


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