So I wrote a post yesterday, titled Housing Decline-What is really going on.
In it, I thought that we real estate agents are spending too much time blaming the media for their coverage of the housing market.
I thought our time would be better spent getting our homes priced right so they would sell.
So I decided to look closely at my Chicago Tribune business section this morning and see how the news is being portrayed. Here goes:
Page 2: Centex: Centex Corp., the largest U.S. home builder plans to pull out of the Detroit area as demand slumps. Sounds scary.
Page 3: Kimball Hill: Kimball Hill, which has filed for Chapter 11 bankruptcy protection is hoping to find investors to rescue the home building company. Also scary enough.
Page 4: New Home Sales: Sales of new homes plunged in March to the slowest pace in 16 1/2 years as a two year housing downturn extended into the start of another spring sales season. Fairly scary too.
OK. Not all fun and balloons. Three stories. All bad. One business section.
But they are all true.
More importantly, they might not be that bad, unless of course you are a home builder.
If you are looking to sell your home, home builders are your enemy. They are flooding the market with inventory.
They continue to build even in markets that cannot support the building.
Centex is just now pulling out of Detroit? That market has been very tough for years. They should have gotten out a long time ago.
My point is home sellers and buyers, home builders struggles are probably good for you.
If you are selling, less competition.
If you are buying, they are offering very good incentives to move their remaining inventory.
Either way, contact me and I can help.
Plus if the big boys are struggling, it sure makes me feel better about my business!:)