In reality, most news about real estate is not ‘good’ nor ‘bad’. It’s just news. Current home values are much lower than just a few years ago.
Many see this as bad news. However, there are two competing parties in every real estate transaction. When a house sells today, 50% of the people in the transaction (the sellers) could see the lower prices as bad news. However, the other 50% (the buyers) probably see this as great news.
Many have said the struggling global economy is horrible news for the real estate market. But, the current economic challenges have also brought us below 4% mortgage interest rates. We will see the eventual recovery in the economy as good news for housing values. Let’s just realize that, at that time, we will also see rising mortgage rates as bad news for buyers.
There will be challenges in every housing market. Those challenges will also bring opportunities.
I believe we need to spend less time trying to categorize the news and more time highlighting the opportunities the market presents.
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