All of Us Rely on the Media to Keep us Informed " Up To The Minute" on Current Events and the manner we receive this information varies from the Internet, Television and the old fashion Newspaper but the fact remains we all to a certain degree allow others to influence our opinions. What if the information we receive is slanted to fit the Ideals of the Reporter and how much influence does it have on the population as a whole? Does this create a mindset that influences people's attitude? You bet it does but do most people investigate the information to see if it is true? Most of the time the answer is NO!!!!!
It is no Secret the Real Estate Market is Down From Previous Years and the media has reported this even though the years they like to use as a comparison were over inflated as the early years of 2000 were not Average. So be it but now many in the Media are trying to bring to the public the falsehood that people cannot get a Home Loan let alone qualify for a loan. What a bunch of "BS" being dumped upon the American public as what the Media is neglecting to say is it's not possible to get a"Liars Loan" where no information on the loan application is verified!!!!
Thirty Years Ago My Wife and I Purchased Our First Home with a FHA Loan, last I heard FHA was still in business, that allowed us to achieve the American Dream of owning our own home at the tender age of 22 & 20 respectivally. We had to verify that we had jobs and a 3% down payment, borrowed from my parents, and with this Old fashion concept we moved into Our Taj Mahal. By the way the interest rate back then was 10% fixed!!!!
When I have a Problem With my Car I seek Out the Advice of a Professional Mechanic even though the Media reports GM is having a problem with their business as I do not understand how my vehicle was built but they have the Truth to my questions. IF you have a question about a subject seek out the advice of a professional in the industry as they know the reality of the their Profession regardless of what the Media may say.
In The Past Three Weeks Four Families Have obtained Loans and Closed Escrow on homes with me personally, three in Murrieta and one in Menifee Ca., so I guess they must not have been watching the news as they were too busy achieving the American Dream. I don't say this to brag as I sell Real Estate and I don't know the first thing about running a Newspaper or Media outlet.
UPDATE 10/30/08: Check out Jeff's Post:
Hey all you MEDIA OUTLETS, listen up, I am pissed !!!!!!
For Your Real Estate Needs Please Contact Me: cameron.wilson@century21.com
Cameron,,,
Yes, it was a good thing that obviously they did not listen to the pundits and prognosticators! Congrats on the sales.
The interest rates are still better than they were in the 80's. I agree with you. FHA is still available and Conventional is not bad either. Now is the time to buy. If you sit on the fence you will really miss out.
Morning Cameron,
Good news doesn't sell newspapers.... thankfully not everyone listen to or believes everything coming out of the media.
Yes, interest rates are still attractive. We bought a home in the 80's an were so happy to get owner financing at 12%. Rates were going at up to 18% at that time.
I agree Cameron. The meia does more to harm us thatn do us good. That goes for all facets of our lives
This is exactly why it is so frustrating when people get angry with Realtors who say "now is a great time to buy"....I have said this myself....I am of course talking about interest rates! They are still low and even though it may seem harder to get a loan these days, is it really? Good credit and money down, not so hard to figure out!
I hear a commentator last night tell people not to buy until prices start going up. If everyone does that we will stay in this paralysis state!
The media loves real estate when it is spiraling upward or plummeting downward--otherwise it's not newsworthy. Their ink and air time go toward the stories that sell. With a few dated statistics and an interview or two, they pronounce the sky is falling. Hey, they're in business to make money, and they have to do what works for them. However, they are not the absolute authority on local real estate.
The media definitely lives and dies by the credo "If it bleeds, it leads!". Good news usually falls under the 'Aww, isn't that nice' category. You will find it buried deep in the newspapers and being the wrap up story on the network news casts.
The market is what you make it. Just remember, doom and gloom are contagious. And misery loves company.
Recession or no recession, wouldn't you rather be in a beautiful home you love than a small one your family has outgrown? Now IS a great time to buy. Period.
Cameron, there's even more misrepresentation than people ever realize. For after beating us down repeatedly with doom and gloom, the media will commission a poll (aka making up news) and discover to their amazement that many people believe it's doom and gloom time. That becomes the follow up story. Self-fulfilling prophecy or validation of their expertise or too little real news to fill 24 hours. Take your pick.
Most likely the media has a toxic relationship with most subjects they deal with. Now, they're calling the election 3 weeks before it happens.
Cameron, I am so glad to see a positive post taking on the media! We really need stories like yours to be heard, thanks!
Here is my suggestion:
http://activerain.com/blogsview/737350/What-if-we-made-the-media-a-POSITIVE-thing
What a great way for AR members to make a statement to the real estate community as a whole !
Cameron:
I am with you. We all need to stick together and get the possitive word out! Just as anticipated the DPA folks have found a new program to assist buyers. This is sure to help with more sales. Great to see your glass is FULL.
Cameron, There are certainly loans out there for folks that have a history of paying their bills on time. FHA, VA and USDA Rural Housing can all be done with ZERO down. There are also numerous grant programs out there to help folks get money for down payments on conventional loans.
Not only are loans available buy prices are very low and interest are lows. AND......you have plenty of homes to choose from. It all sounds good to me.
It might be a terrible time to be a seller but buyers are in good shape.
Cameron...
Hot dang, looks who's on the feature dashboard ... again! Congrats!
I have said it so much lately that I know I'm beginning to sound like a broker record...BUT I'll say it again. The media (IMHO) is just as responsible for the problems we are experiencing in the real estate industry as the banking crisis. The reason: They have fed the American public so much garbage that the American public no longer knows the truth from the lies...and they are reacting to the lies. That is why it is so important that we...THE EXPERTS...the ones who are working in this industry...to stand up and tell the truth. GREAT STUFF! Congratulations on the little gold star and GBU!
Well, Cameron, I do know about running a newspaper and we are being mis-served. Too many soundbites and not enough genuine reporting.
Cameron,
Thanks --- I agree with you 100% ---- things are great now for buyers. I wish they would get off the fence in Charleston SC.
Liz Loadholt
AgentOwned Realty
I agree with Hal -- good news doesn't sell newspapers or motivate people to watch the local news. There are still PLENTY of banks lending money, you just have to have a reasonable credit score and a small downpayment.... just like the good old days!
I continue to say to anybody who will listen, 'the media only has the power we give them.' I say TURN THEM OFF!
I gave up news papers a year ago and have vowed to give up news in any fashion after the election for as long as I can. Hopefully that will be forever. I've decided to be a news maker. Wish me luck please.
RICHARD, We have four happy families that got loans in spite of what the is saying.
MEL, Preach on my Dear.
HAL, I remember the 18% rates. Bought my second house then and assumed two loans.
BILL, What makes me mad is the Media doesn't contact the professionals and verify their information.
TERRIE, It may be harder to get a loan but it's not impossible.
one of my biggest issues is their use of the CASE/SChiller report. It only focuses on 20 cities and is very coastal oriented. Here in middle america we have seen very little of what is going on the 2 coasts but we are lumped in the same bag everytime housing numbers ar released.
JEAN, The Media bases a "good" Real Estate from the sellers point of view. If prices are going up then it's good but they ignore the buyers perspective.
NORMA, My opinion is they are not an Authority on anything.
ROB & JEANNIE, Couldn't have said it any better.
DARLA, I agree 100%.
JOHN,Very well stated my man.
DIANE, Wish they could give me the winning numbers to the Powerball since they know everything.
JANE, Thank you. My question to the Media is hoe come they don't speak with folks who have recently bought homes and ask them why they bought now.
SALLY & DAVID, Great idea but just be careful as they have a way to twist what is said to fit their Preconceived agenda.
GWENN, We need the DPAs back more than the Bailout.
BROKER B, Everything you listed makes it sound like it's a good time to buy. Guess the media won't be looking to interview you.
RICHARD, Thank you Sir!!!!
ELIZABETH, Write a post about all you stated because I want to hear it and I know You have more to say!!!!
FRED, I agree with your comment.
LIZ, If the Media would shut up the buyers will get off the fence.
KERRY, Amazing concept isn't it?
MARIAN, AMEN!!!!!
CHARLES, Good Luck to YOU.
MICHAEL, Skewing statistics is the Media's specialty.
I love this post! The negativity that the media portrays is there because negativity sells. More people watch because they are worried, so more ad spots are sold. It's a money game.
I keep hearing the same thing. Credit is frozen. Can't get a loan even with 20% down.
Nonsense.
In the past two weeks we have closed 2 VA loans, one FHA 203(k) loan, one conventional 5% down with PMI, one 60% conventional conforming, one Construction to Perm. All closed.
The key is in being prepared and know what the buyers is best suited to do.
Thanks for that post. I ambsolutely agree that everyone in the industry has to almost shut off thier TV's and not listen to the commotion. I work in marketing for realtors through the internet and my business has never been better. Why? Because we make our own destiny and put in extra work to find new business. And our customers do the same. So yes the American Dream is still alive, but those who are continual coasters in life are going to get knocked down a notch.
MN Web design
Great point ! We had 2 settlements on friday last week - both deals were FHA buyers putting down 3 percent and qualifying for close to a 6 percent sellers assist. These loans are still alive and well and are a big part of our market - the first time homebuyer market. The media is just downright awful spreading the fact that "no one can get a loan" !
Cameron,
Brag on....see if the media will post good news....they won't.....plus we know it is all about you as it should be........(send you an email - don't be afraid to open it)
CHRISTINE, The Media is in the Negativity business for sure.
LENN, Being prepared to meet the needs of the buyer is a Fantastic statement. Appears you have some clients who don't listen the the crap being Spewed by the Media.
STEVEN, The agents who are determined will succeed and the buyers who are Determined will get a loan.
CHRISTOPHER & STEPHANIE, Good for You and your clients as FHA is Alive and Well.
JULIE, I don't like to brag and as you stated those clowns wouldn't put it out to the Consumer.
Cam, I recently went to an FHA workshop given by a mortgage person who is a personal friend. FHA is easier than ever, with no more grief than a conventional loan and she said that 45% of her business is FHA. The ratios are great, they are easy to work with and unless the house has lead paint peeling off of the window sills, the appraisal will be no different than conventional.
SUSAN, Would you please call your local newspaper with this NEWS!!!!
Forget the Media AND real estate, how about just MEDIA is a toxic relationship! Unfortunately, the media is a money-making business and the normal stuff does not sell, but the sensational does. Nice blog entry Cameron!
•:*¨¨*:• Joe & Colleen Lane •:*¨¨*:•
Our ActiveRain Blog: "What Is A Luxury Home"
My friend has been having these seminars to educate us so we can educate the consumer and stop a lot of this misleading information the media is putting out. I can't find the folder, but she even had a chart from NAR showing how very few people are getting turned down for a mortgage vs. what we are hearing on the news. Yikes!
Cameron...
For a small up front fee...I can have a few friends of mine pass by your way and assist with a little toxic dumping. How much BS would you say you've accumlated? :)
TLW...ROAR!
I hear you Cameron and am so glad that my buyers aren't listening either. Where is the media getting that info anyway? We keep getting bid out on homes in the first time home buyer arena and I bought my first home with an FHA loan too.
Unfortunately, popular sentiment and news are not always the same, and some media outlets seem to forget that perception doesn't always equate to reality.
"Man bites dog" sells. Period.
I'm in construction with a brokers license to facilitate my client's dirt purchases to build. "Housing starts DOWN 20%". Guess what, 80% are still doing something.
North Texas is one of the top 3 markets for RE stability in pricing and sales. However, the national averages have impacted mindset. Some really big custom builders have closed up shop.
Guess what? I have 80!!!!!! people who want to build a new custom home within the next 12 months. 80!!!!
It all has to do with how you run your business and how well you know your market.
BTW, anyone having trouble selling a house in Texas? Check out my profile for our alternerative energy program. Even though the state has no incentive programs, we can get a deal done on homes to be sold or bought. (end of advertisement).
Mike Michaud, Custom Homes AT COST! by North Texas Help-U-Build, part of the Preferred Builders Network of Texas.
Cameron: If you listen to the media one would think the sky is falling.. last I looked up... The sky is still in place. Yes the times are more challenging these days.. Business is still there... Lets go get it
There have been times when I thought the media actually "talked" us right into a housing crisis.
Myrl, you are 100% right. homebuyers hear on the news that there are no loans, so they stay home. Unfortunately, the attitude is that if it is on TV "it must be true". We know better but we don't have the means to share the truth with the public in a way that will out shout the media.
I agree 100%, I have a battle out here in the field everyday. People that want a home but are afraid. I have people saying, "Nobody can get a mortgage." Even had a person call me up to basically tell me I was incorrect telling my sellers mortgages were available. I have used USDA and FHA this year and I'm here to tell you the mortgages are still there, it's just going back to the old way of doing things (which we should have never left).
I have blogged about the problem, I have written emails to the doom-and-gloom-not-give-all-the-information media, I'm getting ready to write NAR. Do you think it will do any good to write our congress men and women? Free speech is fine but they give false reports when they don't tell all the information.
Just Friday, I saw a news report that said, "Mortgages rates have had the highest rate increase in history, it couldn't be WORSE!" Now was this report correct? yes and no. There was a high ONE DAY rate increase, historically rates were close to the all-time low when this increase occurred. We are no where near the worse mortgage rates in history which was over 18%! So blog I did about historical mortgage rates. Emails went out to the station.
Please forward this blog to NAR they need to see this.
Maybe you should switch it out & get the front page of your local newspaper? You do the headlines if they do the real estate? You are correct that it is so biased that the public's security is being shaken even in owning their own little 'Ponderosa'. I remember selling homes FHA when the interest rates came down to 14% somewhere under Jimmy Carter. Things were really screwed up back then - 6.5% is a piece of cake now. That was the beginning of the 'liar loans' but you had to have at least 30% down which made it tough to walk away from.
The news in any form tends not to tell the whole story. But then, the entire truth rarely makes good news.
Great post! Hasn't the last few years really pointed this out? You have to think that a portion of the current market is a result of the media blowing things out of portion and scaring away consumers.
Thanks so much for your words of wisdom. I could not agree more, I have not had any problems selling or closing on homes with truly qualified clients (key phrase "qualified clients"). If you do the legwork upfront and make sure they are motivated and qualified, the rest falls into place.
I do run into the occasional buyer who has an unrealistic picture of the market and thinks that they can name their price and get everything for a steal. Needless to say they are in for rude a awakening, especially after they lose the first property then they usually wise up.
When I run into friends and aquaintances, I constantly hear "I'm so sorry you're in Real Estate, things must be really bad" or "Are you going to have to find a new line of work?" Hopefully this perception will dissapate after the election. I am getting to tired of the negativity and the doom and gloom, it is beginning to make me ill.
As Chairwoman of our association I have made it my mission to get accurate information out to the public. Lately that has meant getting the word out that you can get a mortgage! Luckily I ran into a good reporter and this story just ran on our local newscasts. Thought it somewhat humorous that the anchor lead in had to be negative & scary - at least they let my positive comments run.
Heres a link to the clip from sunday nite, l0pm channel 6
news:
http://www.myfoxmilwaukee.com/myfox/pages/Business/Detail?contentId=7679011&version=1&locale=EN-US&layoutCode=VSTY&pageId=4.1.1
Cameron- Great post and we need to keep putting the word out in front of people so they know and are informed correctly.
Cameron,
Good topic. I was of the same mind, frustrated that the nightly news was running stories that were counter to what I was experiencing in the field. So I did something to correct it.
I joined the news team.
We are working with ABC15 here in Phoenix producing a running news series called Home Smart. If you can't beat 'em, join 'em! At least I get to have 'some' influence over the real estate news. They edit the heck out of the pieces, but I have found that the subject matter does not have to bleed profusely to lead. Let's face it, we each see troubling developments occuring everyday in our respective markets. From banks destroying equity with home giveaways, to people still thinking that an orange and black "For Sale By Owner" sign is the marketing tool of success.
All the news has to be is "interesting". Framed the right way, just about anything can be deemed "interesting". The news producers just want a piece that will encourage people to stay tuned to the next commercial break. This is not rocket science. Make the media your friend. Become a correspondent. Help get the truth out. We work with some incredibly talented people at ABC15. Believe it or not, reporters are people too. People with homes. People with a vested personal interest in getting the market stabilized.
Find an interesting story. Contact the news station with it. You can see some of our spots at www.JDSamuelsonGroup.com . If I can do it...anybody can.
JOE & COLLEEN, LOL. Thank you.
SUSAN, It's up to US to educate the consumer and all of should be doing that at every opportunity.
TLW, Three semi trucks full. How much you want up front?
CRISTAL, Perfect example the Media is not reporting the real story.
LANE, They make their own agenda.
MIKE, You are proof the Media is full of crap and slanted.
ROLAND, I hear You, Lets Go Get It!!!!
MYRL, I agree.
LINDA, I appreciate the suggestion about sending this to the NAR but I don't place any faith in them after selling US out to Realtor.com. Politicians.
LYN, I would love to write the Headline for a Big newspaper but I don't think they can stand the Heat that I'll put onthem.
JL, Very good point.
MATT, I agree with you as the Media has done their part to bring down the market.
JENNIFER, Buyers do have to be realistic but they can get a loan if they qualify. Had a loan fund today on one of my listings. Silly people bought a HOME.
BETH, EXCELLENT!!!!!!!!!!!
LORI, Lets you and me tell all the consumers it a good time to buy.
STANLEY, Fantastic work!!!! I'm not photogenic, have any suggestions?
BTW, I thought Russell hogged up the TV in your area. LOL
Cameron, great post on the "power" of the media. I think it is so sad that negativity sells more ads & papers, etc than positivity. I also have customers like yours that are too busy buying a home to listen to the negative news. Great line: "so I guess they must not have been watching the news as they were too busy achieving the American Dream"
Good news is on the horizon, Cameron. None of us will be hearing much about a lousy economy once the election is over. Given the media's motivation to influence the outcome of this election, they're hoping we'll have a repeat of history by playing up the "worst economy since the Great Depression". I agree with Myrl-- this current economic 'crisis' is escalated by the media's fearmongering.
Cameron... some great advice and tips. We need to keep writing about how good the market is now more than ever. I am trying to write one of these posts once a week. The media really, really sucks right now and yes, it is mostly BS. It makes me cringe. But we can't hide or get angry, we need to educate.
Cameron- OK lets you and me do this thing! I am going to re-post this informative blog!
I do get extremely tired of listening to people saying the market is bad, and with that the current listings being overpriced since the market is "so" bad. I wonder since the car industry isn't the best if buyers tell the sales dept how "overpriced" the vehicles on the lot are, that foreclosure is looming and they should take $xxx less than what it's worth.
Since no news is good news I don't think any will be hitting the network airwaves soon.
PAM, Sounds like You are doing a good job educating consumers.
PAULA, I hope your right.
JEFF, I agree with you completely. Keep up the good work.
BUFFY, I'll take the "no" news about Real Estate if this is the way the Media portrays it.
Cameron: If the media doesn't have us panicked, they have no ratings. That's just the way it works. Good news ain't no news at all! :)
CHRIS ANN, I agree. Bad news sells!!!!
Well, it always sounds better to say that an imminent storm threatens a small town, than it might rain today.