In both the mortgage and real estate industries we’ve gone beyond the “It is on the Internet, so it must be true,” to “How did they just spin that?”
Really smart and really successful Steve Harney (negotiation expert and leadership trainer for real estate professionals), recently crystallized my point about the confusion that is perpetuated in the media. I thank him for bringing this particular instance to our attention.
He recently blogged about how one report (the S&P/Case-Shiller Home Price Index of 20 Cities) yielded two completely different news stories. Freedom of speech, of course! But two completely opposing conclusions drawn by the Wall Street Journal and CNN Money?
So if two esteemed resources interpret information so differently, how is the average home buyer to proceed? On what do they base their actions and how they progress with their potential real estate purchase?
The trials and tribulations of the housing market is fodder for millions of news stories and speculations; but meanwhile, home buyers and sellers just swirl in the vortex. Shocking headlines about home prices dipping and recent home sales increasing make for nice blog traffic, but as I’ve said repeatedly, your numbers don’t lie and the lower the risk you represent as a borrower, the increased odds that you’ll be packing a truck with your stuff for the big move.
At the end of the day, whether you are purchasing a short sale or a foreclosure or a newly constructed home, rely on your Realtor and your mortgage lender to navigate and you will succeed. Just don’t believe everything you read; you’ll start questioning your own sanity.