And now, a word about the media and the housing market...

Every day the bombardment of news and information touches all of us and influences how we think, how we feel, and what we do on so many levels that it's impossible to name them all. Most of us probably underestimate the power of the media in shaping what goes down in the markets and even at the dinner table.

The most important thing to remember about the media, especially the news media, whether it's newspapers, cable news, network news, radio talk shows -- whatever -- the focus is always negative. Never do these outlets talk about the upside of an event that they report as "news".

And there are upsides to everything in life. For example, the current rearrangement of financial institutions on Wall Street, at the very least, can be seen as a culling, or pruning that will in the long run strengthen and realign financial practices. It takes a little research perhaps to find, but there are certainly many more positives that will come out of this time.

The power to choose...

We all have a choice to react to headlines and stories, or to stop and think about the context of the news and also look for the upside and advantages in any situation. Not only that, it is helpful to remember that every day, all over the world, in every moment, a lot of people are are doing something kind, loving, wonderful for someone else. The majority of people are doing an honest day's work, taking care of their businesses, their families, having fun, enjoying life. Every day in every moment a lot of people are thinking good thoughts. This is much more prevalent than the bleak, shocking stories that are streamed over and over again on news stations to snag viewers.

We did not, as a nation, reach the unprecedented level of prosperity that we now enjoy by focusing on bad, sensationalized news 24/7, caving to the negative emotions and fears it creates, living in fear of bleak tomorrows. No...we have traditionally kept our eyes focused on a bright future, have found the upside and capitalized on it, planned for it and continued to be cheerful (an adjective many in other parts of the world use to describe Americans) and led the way into ever more prosperity.


Of course our forefathers and mothers were not inundated by the print and electronic media as we are. But we definitely have a choice: to choose how (and how much) we will view the events of the day as they are presented to us. We may notice that the less "news" we absorb and unthinkingly accept as truth, the better we feel, the more energy we have. As we choose to feel good more of the time and see "news" for what it is, we may notice improvements in all areas of our lives as we take care of business responsibly and apply our energy to making our best dreams reality.

Professionals weigh in...
Recently journalists and real estate professionals from around the country weighed in on the effects of the media on the housing market. To what extent does reporting on market conditions influence buyers? The consensus was that the news definitely helps shape behavior. Here are excerpts from the comments, which are in the current issue of Ideas, a magazine published by the National Association of Home Builders (http://www.nahb.org/):

From Tim Kane, president of MBK Homes in Irvine, CA:
"I think that the most astute economist will tell you that public perception is a large component of how economics works. And the press is a large factor in the formulation of public opinion...We're in a chicken and egg situation. Yes, the market declined. Yes, the media reported it. The fact that the media reported it did indeed cause the market to decline further. At a certain point, the market is going to reach equilibrium and stabilize and then the new story will be that the market is turning around. And I think that the stories that the market is turning around and that real estate prices are increasing helped fuel the last real estate boom as much as the stories that the market was declining have fueled this .... (Note: real estate values in San Antonio continue to increase.)

From Dorothy Tayloe, broker, Daniel Homes/Ingram & Associates, Birmingham, AL:
The media's impact is enormous in regard to virtually everything. Obviously, the situation in home sales is no different. Real estate markets are local, and when the national media brings you the doom and gloom, nobody bothers to say here in good old Birmingham, Alabama, that our market is still very good...Journalists didn't create the bad market, that's for sure. But again, real estate markets are very local. And I think they should be covered as such.

From Lauren B. Cooper, Reporter, Birmingham Business Journal, Birmingham, ALA
Every real estate market is different. They're all local. But to hear the national news all lumped together as not very good news can be very discouraging to many people on a local level, so I think that contributed to the slow down.

From Andrew Star, Executive Managing Director, Cantor Real Estate, White Plains, NY
A lot of people are saying that the media has created this problem and if the media would just put out some positive stories, this would all go away..I don't hold those beliefs. We got where we are in the real estate market because we weren't paying attention to the fundamentals of the assets and the transactions themselves...That being said, when all you hear out there is the bad news, and we don't talk about some of the positives in the marketplace, then it does become somewhat self-fulfilling.

What do you think? We'd love to have your comments and know to what extent you are influenced by what you see and read in the news about housing and real estate now.

Feel free to comment here or email us at bridlebit@gmail.com

Come Join the Parade

Today is September 3 and we're in the middle of the 2008 Parade of Homes at Cibolo Canyons. The homes in this year's Parade are remarkable for lots of reasons -- for their beauty, fine design, size, location, the people who designed and built them, and all the people whose companies made the products that go into these fine houses.

Significantly, this is the first year that the Parade is green from the ground up -- green means that building practices and materials ensure minimal environmental impact. Green building has health benefits for home owners, too. For more information about green building, visit www.buildsanantoniogreen.org

And, come visit us at the Parade. Say hello to Fred, Russell, Jesse, Rose and Terry. We would love to meet you. You can find directions to the Parade, times and more information at www.sabuilders.org