“What’s market performance got to do with it?”
How many times did you hear that the market was going to crash? Probably too many times to actually remember, but you did hear it many times, correct?
If you are like most people you may have heard it from the media again, and again and again. Actually a year ago, it was all the rage! Everyone was like Chicken Little and we all felt smart stating something that the media drummed into our psyche. Of course the media provides an invaluable service to the public, but it has its motive well defined, to generate headlines that sell.
Now, we all feel a ‘little chicken’ to state the truth…that the market is actually performing the way that it should. A Darwinian twist on the real estate game, “survival of the fittest” in more ways than one. How many times have you heard this? Although you may not have heard this one, ad naseum, you may want to consider accepting this simple truth. What’s even more intriguing is the fact that the ‘great information highway’ delivers news (taken as advice by the public) that summarizes the performance of a national market, not a market summary of our market. Yet, we willingly accept the reality painted by the media as our own. And it doesn’t accurately reflect our distinct reality, more and more people are learning to understand this to be true.
Will the real reality please stand up?
Hudson County continues to perform nearly as briskly today as it did a year ago.
“Really?” you ask.
Yup, really.
When you think about it. It is so easy to be duped into acquiring a herd mentality. Especially when it concerns a subject that everyone perceives to be true, when in fact, it is not.
Consider the following, it’s quite an eye opener and you may find yourself wanting to know even more detailed information. (You can look forward to it in another post, soon.)
During the month of August 2006 there were 1453 listings processed in Hudson County, or a little over a hundred listings per month.
How many listings do you think were processed in August 2007?
Remember, the “bubble has busted” (yes, in some areas far removed from our county)
The reality is that in the month of August 2007, there was a grand total of 1433…a difference of 20. Does 20 constitute a bubble bust? Not hardly.
Now you may be asking yourself “yeah, Grant, but I’m more concerned with how many of those listings actually sold, don’t tell me they all did”
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