News stories within the past 24 hours show how much interpretation of information makes a difference when it comes to the real estate market.
On one hand, a story about how some experts consider some Dallas area homes to be "overvalued" by at or above 10%, based on statistics they judge by.
On the other hand, a story out of Roanoke VA about how strong the real estate market is and how the median price is at record levels in some parts of the state.
What we have is opposite reactions to a similar situation.
If only more people within the real estate community would think about the message they send to consumers BEFORE these statistics and "reports" are made public.
From here, the Virginia story sends a positive message to consumers. It tells potential buyers that they stand to gain value when they buy a home in these areas, thus making for a solid investment in addition to the desired living conditions.
The Dallas story just served to make buying a home in those areas less appealing, making a consumer feel that they would or could overpay for what they get. This sentiment hurts both those trying to sell as well as to buy.
And for what?
This many homes in different zip codes can't ALL be "overpriced".
If only the writers of the Dallas story had used the theories of the Virginia story writers. They might have done local sellers and buyers a nice service, instead of hurting their chances.
See for yourself:
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