I’ll be frank. The media is the cause of all of our negative perception. Last night as I was listening to Fox news (Channel 10 Cox Cable, Scottsdale Arizona) I heard nothing good. People dead, people run over, people hurting, bad, bad, bad…
…and the bad news continues. “HOME PRICES POST A RECORD DECLINE.”
…yeah? And?
Here’s the bottom line. If you owned a home before 2004, or you bought in 2004, then you’re probably exactly where you should be. I purchased my town home in 2003 for $115,000. In August of 2005, my neighbor purchased the same floorplan for $319,000. That’s a disgusting increase in value. It’s unheard of. It’s 177% in 12 months (15%/month).
No market can sustain this type of abnormal growth and when you have record artificial growth you are bound to have a record decline. Thanks to the media, most people look at their 401K, their wallet, their job, and they freak out when they see that “even the media says” that things are bad. These things are all relative.
There is money for qualified buyers. That is who should be buying a home. If you don’t have to sell right now, then don’t sell because you’re not in control, the buyer is. Stop listening to the media and start listening to we who are in the trenches every day working out the numbers, talking to the lenders, keeping it real.
