The Louisville Real Estate market and Yellow Journalism
Posted Sep 30, 2007 @ 7:10 am, Viewed by 959 Visitors, Read 976 Times.In my opinion, the Louisville real estate market is suffering somewhat from visit back to those dark days.How else do you describe the onslaught of real estate articles promoting doom and gloom. The Courier-Journal has been a veritable negative news factory--and all of this in a market that has actually outperformed last year in the dollar volume of homes sold.
Recently Joe Simms, current president of GLAR, went back on the offensive and received some positive press for his efforts. Kudos Joe. I applaud your efforts.
Bottomline: Yes, there is a TON more inventory than in the past. And due to that some folks have had their homes sit on the market longer. BUT (and it is a BIG BUT), there is NO correlation between that and the ability to sell a home IF it is priced right and is in proper saleable condition.
The problem is that lazy (and yeah--even yellow) journalists are reporting the national real estate trends as if they are local. ALL real estate is local. The market in Florida or California or Timbuktu has ZERO ( ok --a VERY limited impact) on our market here.
Note to the Courier Journal re: Louisville real estaete.
Do local jobs makrets matter. Do interest rates matter? Do the number of subprime loans in an area matter sure...Why not report that! You will find that these indicators are ALL very positive for the Louisville homes market.
The cup can actually be half full in my opinion, but I guess that doesn;t sell as many papers as "doom and gloom", now does it?
Eric Blackwell
Technologist
Louisville Real Estate | Southern Indiana Real Estate
RE/MAX Properties East
Southern Indiana Search Marketing / EriconSearch
My Local Search Engine Marketing Blog
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Hi Roger, don't believe we've met, but thanks for dropping by the blog. Since you are local here, feel free to drop by and see me sometime. It's has been a bit since I wrote this, but it still applies today like it did then. A little more true digging and research on the media's part will go a long way to portraying the true local economy a LOT more accurately. Good to meet you! Eric
Roger Taylor
Thanks, Eric. Nice to meet you too. Roger My Web site: http://www.acmehousingcompany.com
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Eric Blackwell is Director of Technology for RE/MAX Properties East. He helps REALTORS reach and assist their clients using Technology and he is the Webmaster of www.HomesinLouisville.com.
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I agree. While the real estate market is not booming anywhere it's as good or better here in Louisville than the rest of the country. The local economy is strong and year-over-year sales are very close to last year's. The local media should conduct a bit more research prior to publication or broadcast on this subject. Roger Taylor, Louisville investor Sell your house today; Sleep better tonight