"The days of a slower market are upon us." You hear and read this message nearly everyday. Radio snippets, nightly news segments, and newspaper articles reporting that homes aren’t selling, foreclosures are up, and prices are slipping. The “experts” say things are bad, getting worse, and not likely to improve anytime soon.
Many buyers who are hearing these reports are reacting with a wait-and-see attitude. Some buyers might think “Why would I want to buy now if I can get a better price later?” others say “Why would I want to buy a house if it is going to go down in value after I buy it?”
What if the media found just one “expert” that sees good things for the housing market on the horizon? What would happen if the media came out with a report that said “The housing market will turn around by fall 2007! Buyers should buy now to get the best value/lowest price!”? What do you think that would do to the market? Would buyers jump back into the market in an effort to get the best price/value? I bet some would.
The point is the media is not helping by churning out negative doom-and-gloom information to the very people who could turn the market around - the average home buyer.
Once the positive messages hit the airwaves and newsstands of America the market will start to recover. It'll take just one or two mainstream reports saying things are starting to look up and they will.
Is there a reporter out there who will find that 'expert' and begin to turn the tide?
Pete Shrader