Westcoe Realtors, Riverside California…Since it is our custom to end the week on some type of good real estate news, today we will pay homage to the national media, who for the 4th day in this week found something good to say about the real estate market. The latest tidbit of positive news had to do with new housing starts, which were up 3% when compared to this month last year.
Ordinarily, housing starts have very little to do with residential resale sales, but that is not the point. The real issue here is the law of self-fulfilling prophesy as it pertains to the national media and the mindset of the general public.
At times, doesn’t it seem to you that if the media (all forms..national, print, TV, internet) just focused a bit more on the positive and a bit less on the negative, that we all might feel better…and things just might get better quicker? I mean, sometimes you just shake your head at all the hype the negativity seems generate. Don’t get me wrong…news is news, and obviously it is not always going to be good. But does that mean we, as a society, have to constantly be bombarded with the negative when even in these times, there is much positive to report?
For example, in our own little real estate neck of the woods in Riverside, we have been touting on this blog for months that our market is hyper-active, houses are selling quickly, and prices (at least in the range below approximately $350,000) have stabilized..and could be going up with a little less fear from the appraisal world. And yet, this gets very little attention next to the normal real estate headline one finds about Riverside, which usually focuses on the large number of foreclosures in our area. Yes, we have a lot of foreclosures…and that is very unfortunate for every home owner effected…but the simple fact is that these foreclosures are the result of decisions and factors that took place 2-3 years ago….not today.
Today’s reality is that our market is very active because the upside to all these foreclosures is that so many first time buyers are now able to afford a home…and isn’t that news worthy of some attention?
We think so, but what do we know? We are only the largest independent real estate company in the area for the past 24 years, but hey…why deal in facts when the media can deal in emotion? However, enough of my rant. The good news for today is that this week, the national medial stuck their collective heads out of their shells long enough to report real positive news most of the week…and if they do that often enough, then people will start to believe it, and the laws of self-fulfilling prophecies will kick in. Until then, stay upbeat, and let’s celebrate this weeks good news….even if that is all we get for a while. Only time will tell, but we will continue to stay positive here at Westcoe.
Take care, have a great weekend, and as always, if there is any issue you would like to see addressed here, just let us know.
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