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Old 10-04-2007, 10:09 AM
 
Location: woodland wa
26 posts, read 129,299 times
Reputation: 16

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I am writting a piece on the general publics thoughts on purchasing or selling property at this time. I would also like to here from you as to how the media's information has affected your desicion on this subject if at all. I am planning on using the information provided for creating a new page to my web site , also for editorials sent to the press and for information sent out to colleagues. If you have an opinion I would love to here about it. Thanks so much for your time
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Old 10-04-2007, 10:33 AM
 
307 posts, read 1,419,348 times
Reputation: 103
It is always a good idea to purchase property that has some intrinsic value (value not suseptible to market fluctuations and not something that can easily be added to a property--like new kitchen countertops). An example is: great location, excellent school district, large lot, view, historic home, etc. I believe it is most important to look for these things in a soft or declining market. If you buy something with great intrinsic value it will always have value, even if the market dips. Who do we see having trouble now?: people who purchased new homes in outlying areas at top dollar because they wanted all the bells and whistles. Big mistake. Better to buy something older, smaller, and less flashy in a excellent neighborhood or a property with a great view. Granite countertops no longer mean that your house was a good purchase.
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Old 10-04-2007, 11:03 AM
 
Location: Edmonds, WA
223 posts, read 1,272,831 times
Reputation: 92
I have nothing constructive to add regarding your question, but if you are "writting" a piece for public consumption, you might want to make use of a spelling and grammar checking program before you "here" from others about it.
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Old 10-04-2007, 11:04 AM
 
534 posts, read 3,107,287 times
Reputation: 240
Media is nearly irrelevant to me. All it seems to focus on is NY and CA, which are both very far removed from my reality.

I do watch NWCN though. They have a tendency to focus more on actual statistics/news than speculation/opinion or gloom and doom reporting. When they talk about real estate, I typically take it into consideration as long as it's not based on AP news. They identify news from the AP by saying "The AP is reporting today...". When I hear that I usually leave the room or change the channel.

Media does not affect my decision to purchase or sell real estate. You may as well watch TV to get stock tips. There are almost *always* good deals in real estate if you are willing to be patient. Buying the first thing that meets your minimum criteria will always bring regrets. Whether or not this is motivated by media, is certainly not cut and dry. I have a tendency to believe people are motivated by the "monkey see, monkey do" aspect of human nature.

However, I for one would like to see the media report actual news and statistics, not misleading or propaganda based nonsense from the AP/govt or overly motivated journalists. One week the economy is steaming along, the next week it's on the verge of total collapse. Total nonsense.

(stepping down from soapbox)
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Old 10-04-2007, 11:17 AM
 
Location: woodland wa
26 posts, read 129,299 times
Reputation: 16
Default thanks

Quote:
Originally Posted by wythors View Post
I have nothing constructive to add regarding your question, but if you are "writting" a piece for public consumption, you might want to make use of a spelling and grammar checking program before you "here" from others about it.
Thanks ,
I will take that into consideration.
You have a great day!
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Old 10-04-2007, 11:19 AM
 
Location: woodland wa
26 posts, read 129,299 times
Reputation: 16
Default I think we're on the same wave length

Quote:
Originally Posted by chris View Post
Media is nearly irrelevant to me. All it seems to focus on is NY and CA, which are both very far removed from my reality.

I do watch NWCN though. They have a tendency to focus more on actual statistics/news than speculation/opinion or gloom and doom reporting. When they talk about real estate, I typically take it into consideration as long as it's not based on AP news. They identify news from the AP by saying "The AP is reporting today...". When I hear that I usually leave the room or change the channel.

Media does not affect my decision to purchase or sell real estate. You may as well watch TV to get stock tips. There are almost *always* good deals in real estate if you are willing to be patient. Buying the first thing that meets your minimum criteria will always bring regrets. Whether or not this is motivated by media, is certainly not cut and dry. I have a tendency to believe people are motivated by the "monkey see, monkey do" aspect of human nature.

However, I for one would like to see the media report actual news and statistics, not misleading or propaganda based nonsense from the AP/govt or overly motivated journalists. One week the economy is steaming along, the next week it's on the verge of total collapse. Total nonsense.

(stepping down from soapbox)
Thank you so much for taking the time to respond!
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Old 10-04-2007, 11:20 AM
 
Location: woodland wa
26 posts, read 129,299 times
Reputation: 16
Default thank you

Quote:
Originally Posted by ness View Post
It is always a good idea to purchase property that has some intrinsic value (value not suseptible to market fluctuations and not something that can easily be added to a property--like new kitchen countertops). An example is: great location, excellent school district, large lot, view, historic home, etc. I believe it is most important to look for these things in a soft or declining market. If you buy something with great intrinsic value it will always have value, even if the market dips. Who do we see having trouble now?: people who purchased new homes in outlying areas at top dollar because they wanted all the bells and whistles. Big mistake. Better to buy something older, smaller, and less flashy in a excellent neighborhood or a property with a great view. Granite countertops no longer mean that your house was a good purchase.
Thank you so much for your opinion.
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