Day Late and a Dollar Short-Don’t get your Aliso Viejo Real Estate information from the News

by keithwatts on December 8, 2011

in Buyers, How Much Is My Home Worth?, How's The Market, Sellers

Do you get your Aliso Viejo Real Estate Information from the Newspapers?  Do you watch the evening news to get caught up on home sales and values?   That sounds reasonable if you want yesterday’s information.  Journalism is about reporting the Who, What, When, Where, and why, not the Now, and Tomorrow.   Isn’t the present and future what you really want to know when making financial decisions like buying a home or refinancing your property?

Of course it’s impossible to predict the future but knowing today’s events will better equip you to make future decisions than knowing last month’s data.    I’ve stopped reading the Real Estate Sections of the LA Times unless I want to know when Brittany Spears sells her next home because I’m amazed how often they will report record low interest rates a few days after they’ve returned to higher levels and how often they report record home sales when it’s clear to me inventory is growing and prices are about to fall.

If getting up to date information is important to you then I suggest you find a trusted realtor and lender.  Ask around and I’m sure you’ll find someone you can trust.  The biggest mistake most people make is sourcing their Realtor, and Lender’s information against the news.

“I saw on the news that rates are at a new low, Should I think about that refinance on my Aliso Viejo property?”

Maybe they were when that article was written…..yesterday.   Unfortunately this morning the Stock Market rallied and the Bond Market had a sell off so rates went up around lunchtime.  Don’t expect yesterday’s interest rate if you haven’t even found your dream home yet.  I can’t tell you how often people put the cart before the horse.  Get prequalified with a trusted lender and then trust that lender to get you the lowest rate.

You’re bound to get better service, and most referral based lenders handle each referral with care.   Only a good lender can look at the Bond Market in real time and give you an intelligent prediction about the day to day in the mortgage business.  I haven’t met any Journalists who will take your call when you need that information in order to decide whether or not to lock in your rate.

“I saw on the news that homes sales are up.”

Home sales where?  Condos or Single Family Homes?  Nationwide or in California?  Los Angeles or Orange County?  In your neighborhood or your Friend’s?  It’s true that the high tide raises all boats but it rolls through in waves.  If prices are going up then eventually every home will go up, if prices are going down then eventually everything will suffer.

I’ve seen times when the Condo market appears it will hold up while everything else is falling only to find out months later it was just the last domino to fall.   If you’re thinking about selling your home find a local Realtor (hopefully by referral) and ask them for a market analysis of your home.  These Realtors will use “Comparable” data and you’ll find that their opinion of value contradicts the good or bad news the media has reported.

The moral of the story is that the information the News provides is no more relevant than a bad lender or Realtor.  If you want help then hire a professional to help you.  Spend more time on finding someone you can trust than trying to learn the business for yourself.  Leave it to the professionals.

Blog Photo: Attribution: Alan Cleaver

Teaser Photo Attribution: Alan Cleaver

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Keith has written 98 articles.

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