Al and Cal Homes and Community: Does Conflicting News About The Housing Market Confuse You?

Does Conflicting News About The Housing Market Confuse You?

Does Conflicting News About The Housing Market Confuse You?

 

Well, It does me. 

Not a day goes by when someone says,

"Did you hear .......?" 

 

Oh sure, I have heard, and sometimes what I hear confuses me!

 

I am a self admitted news junkie.   I try to stay very current on what the news media reports about the real estate market.   Super focused on the local market, yet sometimes, it makes me scratch my head. 

news reports regarding housing, real estate, ma real estate,

 

For those that do not have a front row seat to the real estate show, are these conflicting reports giving folks the wrong idea?

 

Eye catching headlines can be misleading.  

 

An example.    There are times when I will hear or read a media market report touting the speed or lag in real estate sales, while myself and coworkers are experiencing just the opposite.    I know that the facts that they are basing this particular news clip on is  closed sales, which is old news when one factors that the offers on a property are accepted in general 45 - 60 days ahead of close.  Using closed sales to deliver up to the minute activity can often be misleading.    

 

Another example.   I got these two Headline reports in an email this afternoon.

 

 "Another All-Time High for Massachusetts Pending Home Sales in May",  and, in the same email, another headline that read,  "Jump in New Listings a Positive Sign as Massachusetts Home Sales Down Again in April".

 

Call me crazy, but in my quick glance whatI see is,

  • All time High, in one
  • and Home sales down in the other.

Both clearly are trying to relay positive info, but confusing.   

 

In my market area, there is no question the market has shiftedfrom an extreme buyers market, to a more stable and in some communities an extreme sellers market.   Some being the key word.    I think most people are aware of that.    They are aware that there are multiple offers on homes and some homes selling for more than the asking price.

 

But not all homes!    News reports can lead one to believe that it's time for a seller to price their home aggressively and have all kinds of bonafide offers knocking at their doors.     Not so fast, not so simple! 

 

In our quest for up to the minute and more, more, more info, we are inundated with studies and reports in every field imaginable.    We hear reports and stats on how and what we should eat, to how we exercise to what flowers are best planted in certain climate, how we should decorate or homes and write our wills.      

 

All info good.  A lot contradicting and confusing.    

 

Real Estate is no different,

 but if you want to really know what's happening in your market area, consult your local Realtor!

 

 

Give me a call if you have a question about the market.   

 Put my 25 years of experience to work for you!     

 

 

Carol Ann Palmieri

 

 

 

Carol-Ann Palmieri

Al and Cal Realty Group

Remax Executive Realty

www.AlandCal.com

 

Cal@AlandCal.com

 

508-494-9061

 

Comment balloon 54 commentsCarol-Ann Palmieri • June 13 2013 06:06AM

Comments

Carol Ann, true there are conflicting reports, but all too often, the real estate agents are behind the 'curve' just like the very people they serve. Here in Florida, the market is in flux and the economy has a direct correlation to whether it is a buyers' or sellers' market.

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (Realty National) over 5 years ago

Hi Carol,

I hear on the news that housing starts are on the fall and then I hear that the builders can't find enough qualified help to keep up with the rising demand for new housing starts. Both are on different channels and I would think someone needs to step in and set the record straight once and for all.

Have a great day in Franklin, Ma.

Best, Clint McKie

Posted by Clint Mckie, Desert Sun Home, Comm. Inspection 1-575-706-5586 (Desert Sun Home, commercial Inspections) over 5 years ago

Carol Ann: I really feel for consumers who are trying to decipher all the conflicting real estate information, at the national and state level...at the local level we have the opportunity to turn the tide by blogging about we we see and what the local stats tell us.

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) over 5 years ago

You are correct.  Residential real estate is local Cal, and many news stories about regional or national trends may not apply to your neighborhood.

Posted by Al Raymondi, Ormond By The Sea Florida - Home and Condo Sales (Ocean View Realty Group in Ormond By The Sea Florida) over 5 years ago

With all the ups and downs it can certainly be confusing Carol Ann.  Hiring a local Realtor® to give you the actual scoop is the only way to truly find out what the market is doing.  Suggested :)!

Posted by Brenda Mullen, Your San Antonio TX Real Estate Agent!! (RE/MAX Access) over 5 years ago

Hi Norman.    I guess I hadn't give much thought that the agents could be behind that curve too.    Thanks for weighing in!! 

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Hi Clint.  It makes me shake my head in confusion.   :)  Hope all is well!

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Hi Anita.      Market reports on AR and agents blogs always seem info packed and not slanted to grabbing headlines.   

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Hi Al.   So true.   It varies from town to town and state to state.

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Hi Brenda.  Thank you for hitting the button.   I may just be getting wary of news media these days, but relying on the local pro seems like the way to go.  

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Love your advice to consult their local REALTOR!  

Posted by Ava Anderson, Selling Atlanta from A-Z! (A-Z Atlanta Realty ) over 5 years ago

Carol Ann, You are so correct with this post.  I got so annoyed last week when the local paper on line had a statement about sales being UP in my area that I purchased the paper because I need to subscribe on line to it (for a fee) in order to read the articles.  Once I purchased the paper and read the article, it was from some company I had NEVER heard of...frustrating because the public takes the "Daily Rag's" reports as true!

 

Posted by Christine OShea (Christine E O'Shea Real Estate Broker) over 5 years ago

Hi Ava.  Thank you.  

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Carol Ann- Great post.. I think we hearallkinds of dirrent news depending upon the agenta of those creating the news (yes, I said creating not reporting).

Posted by Scott Fogleman, New Home Team (New Home Team 804-573-9592) over 5 years ago

Hi Christine.    Folks believe what they see and in some cases it misleads them.  Not just about real estate either!  

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

I think the key is to see what the local Realtors are thinking. I believe Real Estate is local and therefore the market should be looked at locally.

Betty

Posted by Team Honeycutt (Allen Tate) over 5 years ago

Local real estate is definitely local! I find that the mass media headlines are frequently designed to scare though- Thank you Washington Post for scaring everyone senseless! 

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) over 5 years ago

Carol Ann, as much as Real Estate is local, it does have a global impact. And yes, sometimes the news is confusing - because they read the numbers, they don't live them, we live them!

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners) over 5 years ago

I do not listen to the local media because of this reason. People in the trenches will give you the real scoop

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (Real Estate and Beyond, LLC) over 5 years ago

Carol Ann, mixed results for sure. I just did a market report on one of my service towns, sold listings were up by almost double from the previous month, yet even with that the number of new listings that came on th  market were almost 3 times as many as were sold. Can't see a psitive there

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) over 5 years ago

Carol Ann, it is so true that consumers are inundated with conflicting data and market reports. The greatest advice we can give our client is how to decipher the data and how it affects our local market.

Posted by Les & Sarah Oswald, Broker, Realtor and Investor (Realty One Group) over 5 years ago
The media has been distorting the truth about everything and for long time. I no longer watch TV and ll of its lies. It also works on the subconcious mind that has been dumbing us down for years. and these facts we have been warned about.
Posted by Jimmy Faulkner, The Best Of St. Augustine (Florida. Homes Realty & Mortgage) over 5 years ago
It's so very true, it's a city by city market, and in some cities it's a community by community market. Every market is different and every community and city is different, the best thing to do is seek a local Realtor! Great post, thanks for sharing.
Posted by Graziella Bruner, Associate Broker - Serving Wayne & Oakland County (NCS Premier Real Estate) over 5 years ago

Carol-Ann, it's just that the market is so different in so many different markets throughout the country.  National media has a horrible way of painting the news with such a broad brush that it really IS hard to tell what is happening.  Of course, they don't report for us, they report for ratings.  Grrrr.

Posted by Karen Anne Stone, Fort Worth Real Estate (New Home Hunters of Fort Worth and Tarrant County) over 5 years ago

As Realtors, we must remind people that real estate is local. I was just reading about IBM lay-offs in the Hudson Valley today (which is where I am from). My market is on fire but I have many friends and family in NY who should be worried about their home values right now due to the local economics. Only local market reports are most accurate information for the consumer.

Posted by Carol Culkin, Overland Park (Reece & Nichols) over 5 years ago

Thanks for sharing your thoughts! :)

Posted by Jamie Bulaich, Long Beach/ Seal Beach/Sunset Beach - Coastal Homes- 5624493637 (Keller Williams Realty) over 5 years ago

Conflicting news is all over, not just real estate . . . but I get used to it and filter it out, or turn it off completely.  The market is so fickle . . . 

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) over 5 years ago

Real estate isn't just local, it's hyperlocal. Overwhelming majority of press on the real estate industry (particularly when quoting statistics) is on a national, state or metro level and in all likelihood has no bearing your little pocket of sunshine. Educating our clients is a huge part of our job as what they read in the paper or online often creates all sorts of false impressions of their local market.

Posted by Aaron Hofmann, aka Mr. Smyrna Vinings (Atlanta Communities) over 5 years ago
Yes, it can be confusing. The key is that I follow my market very closely, and we can't argue with facts.
Posted by Gary Frimann, CRS, REALTOR and Broker (Eagle Ridge Realty / Signature Homes & Estates) over 5 years ago

Good morning Cal, yes to the confussing and absolutely to poor writing of headlines. Stable is a good thing. We are so overheated again down here it is scary.

Posted by Marco Giancola, Realtor (305)608-1922, Miami Beach Florida (Beachfront Realty) over 5 years ago

Hi Scott.  I love that.  Creating not reporting.  

 

Hi Betty.  Ditto!

 

Hi Lisa.   I agree!

 

Hi Praful.   One can always make numbers say what they want, can't they?  

 

Hi Harry.  Boots on the ground always have the real scoop!

 

Hi Ed.  Exactly what I mean.   Town to town here.  

 

Hi Sarah and Les.    Some buyers and sellers are surprised when they see the actual facts that pertain to their situation.  

 

Hi Jimmy.   I couldn't agree more!

 

Hi Graziella.   Very true.   I find it the same here.

 

 

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Hi Karen Ann.  True,  and, not just when it come to real estate either. 

 

Hi Carol.    Yes, big impact, but one wouldn't know it by reading a broad reporting.   

 

Hi Jaime.  Thanks for commenting.  

 

Hi Carla.    Sometimes funny if you can filter through.

 

Hi Aaron.   Exactly.  I am dealing with that right now!

 

Hi Gary.   What was that... just the facts Mamn!

 

Hi Marco.  Crazy the ups and downs huh?

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Cal, 

Well I completely agree with what you are saying. I had a RE mentor who use to say to anyone who spit out supposed Real Estate knowledge.. Well how many homes has this person ever sold? Well with the news media the answer usually is NONE.. Congrats on the feature.. I take most of that stuff with a grain of salt.. Old saying.. 

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) over 5 years ago

One weather forecast for the country, world does not work either. Media tendency for generalizations that fit beyond the local level are misinformation. Ask the local professional wearing the blue and gold "R" for the real estate forecast.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) over 5 years ago

In my last 18 years as a Mortgage guy, I have noticed that no matter what the market or blah blah blah is, I have still been able to find and help those that need to take action.

Posted by Ron Aguilar, Mortgage & Real Estate Advisor since 1995 (Continental Mortgage) over 5 years ago

Though I always keep up w/ the news, I have never let what I hear dominate my business plan.. I work as hard as I can, and follow every lead... When business is good, I put away some nuts for the times it is a little lean. Love what I do!!

Posted by Robert Hicks (United Country River City Realty) over 5 years ago

Yeah mixed market here as well. With young Military families moving IN this time of the year, houses under $150,000 go quickly! Up to $250,000, not as quickly because they are generally older officers and not as many of them. But the Market is leveling out, so the conflicting news is sorta right.

Posted by Travis "the SOLD man" Parker; Associate Broker, email: Travis@theSOLDman.me / cell: 334-494-7846 (Team Linda Simmons, Enterprise, AL 36330) over 5 years ago

It's easy to become confused if we believe everything we hear/read. Concentrate on what you know to be true in your parts.

Posted by Jill Sackler, LI South Shore Real Estate - Broker Associate (Charles Rutenberg Realty Inc. 516-575-7500) over 5 years ago

I think your right it is very hard for someone not in Real Estate to know the true local market...When the National News is singing to a different tune!

Posted by Frank Harper, Broker/Owner, Realtor, GRI, SFR. (Idaho Family Real Estate) over 5 years ago

Ya know, it's  all about ratings.  Give six reporters the identical story any you will see six different stories reported, usually, each reflecting the reporter's predisposition.  Don't listen to the news.  Rely on your own experience.  Remember, the experts didn't see the crisis looming, it was people like you and I who said that the extremely high and rising prices made no sense.  Well, the market corrected.  The real question is will the Un-Affordable Care Act hurt the market when it gets fully implemented next year and by how much? 

Posted by Roger Stensland, Let's Move! (The Cascade Team Real Estate) over 5 years ago

I found that there were conflicting reports just the other day on foreclosures in my state. One said up, the other said down.  I think that is why breaking it down to your own little part of the world is good with market reports.  That is the true key not something that encompasses the entire U.S.

Posted by Lyn Sims, Schaumburg IL Real Estate (RE/MAX Suburban) over 5 years ago

The news about the real estate are very confusing because they are generalized and get the reality out of it digging for used facts is necessary. I see this all the time when I am on my way to do BPO's of lenders.

The general market data says low inventory and rising prices but when you look closer I see neighborhoods where the inventory is very low and the prices are still declining.

Posted by Andrea HoffDomin, - in Real Estate always on your side! (Florida Dream Homes Realty) over 5 years ago

You can make a case for just about anything if you are willing to reach far enough.  By the time the Newpapers figure out what is going on the market has generally already changed.

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) over 5 years ago

Hi Al & Cal, we see the conflicting reports however we choose to draw our own conclusions.  Which right now shows mostly positives in the market.

Posted by Bob Miller, The Ocala Dream Team (Keller Williams Cornerstone Realty) over 5 years ago

Out here in Phoenix we are really overheated, 111 degrees, and yes the sellers are driving the stagecoach.

Another bubble, no way, oh really, has your cab driver been telling you the best way to buy real estate is to borrow from your 401K plan.  I know in 2005 the cab driver had a real estate license.  Out here folks are very interested in how to use their 401Ks for down payments.

I have to leave, the a/c needs readjusted.

Thanks,

Jim Miner in Phoenix AZ.

Posted by Jim Miner, Loan Modfication & Short Sale Specialist (Miner Noh & Associates) over 5 years ago

The news media is loaded with misinformation, speculation and sometimes simply misrepresentation. It depends on your news source yet most people never confirm the facts of the news or events or research the validity of the news. Furthermore, most agents are basing their perception on only the data from real estate, so if the economy isn't getting better, how could you say that the real estate market has improved dramatically? 

Posted by Kimo Jarrett, Pro Lifestyle Solutions (WikiWiki Realty) over 5 years ago

Cal, 

Wow you got many comments on this ecellent  blog and Congrats once again. I hope your family had a good Father's Day. 

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) over 5 years ago

Headlines are supposed to get you to read the article. If you did that, the headline is a success.

Articles are designed to express an opinion or report on an event. Accuracy is nice, but not necessary.

Posted by Thomas McCombs (Century 21 HomeStar) over 5 years ago

Thank you all for your great comments.  It was great to hear/see your perspective on this!   Thank you!

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Carol Ann, it so drives me crazy...well look at what they are getting for the new condos and I can't get the same price for my house?  Like they are the same because the media says it is so...a local realtor makes all the difference if you WANT to hear the truth!

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) over 5 years ago

Hi Cal, 

I am just stopping b y to say hello and I would guess you buried in Real Estates deals.. take care.., 

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) over 5 years ago

Hi Ginny.   haha.  Me too.

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Hi Bob.  Thanks.  It has been a week for sure!!   Hope you are well. 

Posted by Carol-Ann Palmieri, "Cal" the Real Estate Gal (RE/MAX Executive Realty, Al and Cal Realty Group) over 5 years ago

Hi Cal, 

Thanks for commenting on my blog and it is always good to hear from you. Take care and remember to take some personal time. 

Posted by Robert Bob Gilbert, Your Katy TX ( West of Houston) Real Estate Expert (Berkshire Hathaway HomeServices Anderson Properties) over 5 years ago

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