TIME Gets the Message, Posted by Dick
Yesterday, I saw an article in TIME magazine that every REALTOR® and consumer should read.
We’ve been working for months now to inform potential homebuyers that national headlines about the housing market are misleading, and it looks like TIME has gotten the message.
While it’s true that home prices have fallen in many cities, they are not the only factor determining how much it will cost the average person to buy a home. As the article, appropriately titled "Ignore the Headlines,” points out, since most people finance their home purchase, interest rates play a big role in what the typical home will cost now – and in the future. Even a small rise in mortgage rates could offset a notable decline in home prices.
Consumers need to know all the facts related to the home purchase and ultimate cost. If you are interested in becoming a homeowner, please visit www.housingmarketfacts.com for information on what you need to know, and then find a REALTOR® who can help explain what is happening in your local area.
This is just one example of how NAR’s media outreach is paying off. If you see other articles that “get the message,” we’d like to hear from you. – Dick Gaylord, 2008 NAR President
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Comments
Another example of articles that "get the message" in our local SW Idaho area, from my blog: http://TuscanSpud.com titled, "Ban the Bad News..." and another one, "Boise Area Homeowners: 5 Crucial Reasons to list Your House A.S.A.P." Thanks for pointing out the Time mag article Dick. I'll use it (and yours) to keep the NAR outreach momentum going--and you're so right! It's going strong, as long as we just keep the spin-media out of our space.
Posted by: BEV@TuscanSpud.com | March 5, 2008 12:19 AM
Thanks for the comment, John. You are not the only member who is experiencing challenges with short sales. In fact, I appointed a multi-disciplinary work group of the Conventional Finance Committee, Risk Management Committee, Multiple Listing Issues and Policies Committee, and Professional Standards Committee to study the short sale issue and make action recommendations in areas where NAR can act or influence. We’ll keep you posted on our progress.
In the meantime, there is an article in the March issue of REALTOR® Magazine Online that provides some helpful advice: http://www.realtor.org/rmomag.NSF/pages/Feat1200706?OpenDocument
I encourage you to pass it along to your colleagues. And, please keep the questions and comments coming! -- Dick Gaylord
Posted by: Dick Gaylord | March 4, 2008 12:48 PM
As a career-Realtor® who has been active in this business for over 31 years, I feel that it is each of our responsibilities, to educate the public to the TRUE Facts, about our local markets, since real estate IS LOCAL!
In addition, I strongly feel that our National and State trade associations should be encouraging ALL Realtors® to research and review the positive aspects of each of their marketplaces.
We have had numerous new licensees and Realtors® join our ranks since 2000. Unfortunately, many of these Realtors® do not receive any training or guidance from their local brokers, and some are totally lost about how to react to all the negative media about the housing market, and research and review the "Positive" aspects, as they relate to our industry.
I recently published an article in our local papers in New Bern, North Carolina -- "Housing Market: Glass Half Empty or Half Full?" You can find it on my blog http://diannedunn.blogspot.com/
I strongly encourage NAR® and our state associations to help promote the positive spin on our industry, and take a look at the cup "Half-Full!"
Thank you,
Dianne Dunn, CRS, GRI, e-PRO, ASP
Broker/Owner Keller Williams Realty
New Bern, NC
www.NewBernHomes.com
Email: DDunn@DDunn.com
Posted by: Dianne Dunn | March 1, 2008 08:20 AM
Hi Mr. Gaylord,
My media outreach has been paying off also. I've started a daily real estate talk show at 8am. Matter of fact, it's about 5am PST and I ran across your post and wanted to comment.
You're welcome to listen online at http://www.jonvaughn.com and click on the listen live link. 8am... KGEO AM 1230... but it's likely you're not in Bakersfield.
I've read the Time article and matter of fact, one of the radio ads usually plays right before my radio show starts. The most negative and "car-wreck" chasing type of real estate blogs are starting to change their tune. This is exciting.
We have important issues that need to be addressed. #1 - The short sale approval process must be expedited. In Bakersfield, we have more short sales listed than bank owned property. I hear cases, and even myself, have experienced short sale offers that get ignored or rejected and the bank puts it on the market for less than that offer was. I need NAR to do something.
#2- California received a $5.6 million dollar grant to retrain the mortgage and banking industry workers to put them in Biotechnology or other areas. PUT THEM IN ASSET MANAGEMENT COMPANIES AND LOSS MITIGATION DEPARTMENTS. Banks are slow to respond and it's only getting worse.
#3 - Can you check on Section 9 of the Real Estate Settlement Procedures Act and let me know if the banks are violating that by forcing the buyer to use a particular title company? That is when the bank is acting in the capacity of the seller, not the lender. Also, you may want to look up "Affiliated Business Agreement(or Arrangement)"
I am just getting tired of buyers having no recourse on escrow extensions. I'm tired of our escrow and title jobs being outsourced to the "Big City" while smaller communities suffer and lose more jobs. Guess what? We have about half our sales are foreclosures and I'd be safe to say that atleast 90% of those title and escrow fees were outsourced. This is our community. Help.
Posted by: Jon Vaughn | February 27, 2008 08:12 AM