NEGATIVE MEDIA MONGERS & REAL ESTATE SALES IN BROWARD COUNTY, FLORIDA

SINGLE FAMILY HOMES IN BROWARD COUNTY:
THE LAST 6 MONTHS:
This past February, there were 1 % more single family home (sfh) listings in Broward County, than there were a year ago, during February of 2006…
But, this past March, there were 3 % less sfh listings than on March of 2006…
Last April, there were 6 % less sfh listings than on April of 2006…
Last May, there were 14 % less sfh listings than on May of 2006…
Last June there were 16 % less sfh listings than on June of 2006…
Last July there were 17 % less sfh listings than on July of 2006…
See the gradual reduction in the number of houses for sale?
The less the supply, the higher the demand, no?
Significant? Is this not a positive trend which should be publicized,
to stimulate & encourage the buying public’s confidence?
Why don’t these factual and positive figures get picked up by the mass media?
This data is available at the website for Realtor Assoc. of Greater Ft. Lauderdale:
http://www.r-world.com/ to anyone interested enough to do the research themselves.
Last Feb.’s Average Sale Price of sfh’s (over Feb. 2006 average) was up by 5 %.
Last March’s, Average Sale Price of sfh’s (over March 2006’s average) was up by 6 %
Last April’s, Average Sale Price of sfh’s (over April 2006’s average) was up by 6 %
Last May’s, Average Sale Price of sfh’s (over May 2006’s average) was up by 4 %
Last June’s Average Sale Price of sfh’s (over June 2006’s average) was up by 9 %
Last July’s Average Sale Price of sfh’s (over July 2006’s average) was up by 3 %
Why don’t these encouraging figures get published by the mass media?
When, for example, In December of 2006, the number of homes that were taking more than 121 days to close was up by a whopping 300 %. That has tapered down these past 6 months to 167 % in February, 158 % in March , 120 % in April, 129 % in May, 120 % in June, and 120 % in July. That’s an average of 115 %. This is less than half of what it was last December!
Homes are still taking a long time to sell (especially when priced above their current market value).
All in all, though, there are encouraging trends... or am I delusional in my brutal optimism?
Are we in one of the toughest real estate markets that our area has seen in decades?
The answer is Yes.
And, are there positive trends beginning to develop already?
I believe that answer is also Yes. See the figures above!
So, what’s the problem with home sales in our area?
In large part, the fault is the media’s, yes... but the fault also falls upon those homeowners who insist on listing their homes for sale in the current market at way over the current market value of their property.
And, also in part, by those real estate agents willing to take on a listing, which is priced way over its current market value.
The average monthly "Total Sold Dollar Volume" for single family homes in Broward County during the past 6 months is down by an average of almost 20% over last years’ figures.
But, that SAME monthly average "Total Sold Dollar Volume" comes to a total of $281,306,000.00.
That means in plain English that an average of over $281 million dollars per month have been changing hands monthly, during the past 6 months, in the sale of single family homes in Broward County.
SO . . . HOMES ARE SELLING! At a monthly average of total sales of over 281 million dollars' worth ... (even if it's 20% down from last year's...).
Which homes sold? Ahhh... there's the rub!
Sellers in general expect more money for their homes than what the current market value of the property warrants. This belief is partly human nature, and partly the result of inflated prices over the past few years. It is the owners' real estate agents’ responsibility to give their customers the real facts in this soft market. Many homeowners develop unrealistic expectations about how soon they will be selling their home, tending to expect the same market activity that flourished until 1-2 years ago. They also believed their agent's initial agreement with the seller's own asking price. . .
Homeowners must accept that home prices have fallen considerably from what they were 1-2 years ago. If they fail to accept this, an overpriced listing will become “invisible” in the eyes of Buyers and Buyers’ Agents, who will seek out & choose the very many available & lower priced comparable homes within any price range for any particular neighborhood within our County. It's that simple, and that difficult for a homeowner to accept...
HOMES WILL NOT SELL AT ABOVE
CURRENT MARKET VALUE
IN TODAY'S MARKET.
NOT NOW, AND SELDOM IN MOST BUYERS' MARKETS.
CURRENT MARKET VALUE FOR A HOME, IS ESTABLISHED BY THE AVERAGE SOLD PRICE OF SIMILAR HOMES IN A PARTICULAR AREA DURING THE PAST 3-4 MONTHS. BY THAT, IS MARKET VALUE ESTABLISHED, FOR ANY PROPERTY, IN ANY MARKET CONDITION.
It’s the listing agent’s job to educate their sellers to accept the difficult realities of the current market… Listing a property way above its current market value is not fair to the homeowner, or to the real estate industry. We all need to be objective (the press, the homeowners and the real estate agents), about dealing with these realities if we are to turn the market around from its present state. Selling a home is a true team effort.
Why does the media, then, continue to focus on the worst scenarios when there is factual evidence to the contrary? To undermine consumer confidence? For whar reason or purpose? The unwillingness on the part of some in press to give objective information may be due in part to their personal political views (even though a political bias seems to be an ethical breach of the essence of their own profession)…
Are we going to continue to allow some media mercenaries spinning in favor of private &/or political interests tell us what to think, what to believe, or how to interpret the news. Will we allow their transparent brainwashing to take hold 'till we become permanently catatonic?
With a “free press” like we have at present, who needs foreign terrorists and enemies beyond our borders; when in fact, the most effective enemies we have are native born, living among us, and doing the work of destabilizing our country from within… subtly, daily, and relentlessly.
We listen to them in radio & TV daily, and read their thoughts every day in newspapers & magazines!
These are critical times for the future of our country. Look carefully at the sources of information you choose to accept as "truth".
If we allow evil intentions from some in the press to continue undermining us, it will affect not only the real estate industry, the construction industry, and the investor blocks. Gradually, like dominoes in a falling line, all aspects of our economy will continue to be affected by this process of repeatedly being told that there is nothing to be done, that we're in a crisis, that the economy is the worst in 30 years (which, of course is just the opposite!), etc.
And who, if not each one of us, in our own special ways, to make it our business to fight back and expose some of these powerful individuals & institutions obsessed with presenting our nation's condition in the worst possible light,and who have made an art out of spinning good news into bad news... and the bad news into worse news of catastrophic proportions?
Hope to hear from you!
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Thanks for visiting!
Ray Diaz, GRI, Realtor