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Two articles, same author, same newspaper, Tucson Real Estate the topic in both. But different styles in communicating the information. I decided to talk about this with “The Dog”.
Foreclosures push down your home’s selling price
This article is about how foreclosures in any neighborhood can have the effect of bringing down sale prices for the entire area. This is true and would seem obvious. The lack of clear information in this article is what catches my attention.
I’ve come to expect the inflammatory use of terms like “Flooding” in articles from this author. It seems the author is in possession of a “Dictionary of exaggerated terms and phrases.” This one makes it early in the article which is where you want to place these kinds of phrases for those that only read the headlines and first couple of paragraphs.
“Not only are foreclosed properties flooding the market, but they are also becoming the only standard of comparison for other homes sold in some areas.” (bolding of text mine)
No where in the article do I see how many homes are “flooding the market” or where they are located. There are a lot of percentages thrown around but they are of little value without numbers to back them up. For example:
- Nearly 14 percent
- up about 40 percent from March
- and more than 80 percent from April 2007
The source for the 40 and 80 percent RealtyTrac. We’ve talked before that RealtyTrac is not a good source for this information because it lumps anyone receiving a late notice in their figures. We have noted before as well that foreclosures are on loans not homes, and there can easily be two foreclosures on a home with a first and second mortgage. This too is not clarified.
I want to know real numbers and facts. Where specifically is this happening in Tucson, not just a single anecdotal reference.
I also want to know more then just percentages of change.
If I sold two apples today and sold four apples yesterday my sales are down by 50%.
Headline:
“Catastrophic sales decline 50% for local business”
We are only left to guess why we don’t have real number. Could it be things aren’t as bad or portrayed? Could it be no one really has good numbers so it is easier to pull percentages out of the air? Could it be just another article pour fuel on the fear of Tucson Home Sellers? We are left to our own devices to decide.
All of this could be avoided with some real numbers. But then the Dictionary of exaggerated terms might have to be closed if we find out it isn’t all that bad. For now we honestly don’t know based on the information provided in this article.
Tucson-area home buyers emerge
The second article stands in sharp contrast to the first. Real people, real numbers, real places. Here is an article we can get some valuable insight from the content. This article isn’t just positive, it provided good information.
- new 1,800-square-foot home, which cost about $220,000
- In April, the median price dropped about 13 percent from the previous year to $195,000, according to statistics from the Tucson Association of Realtors Multiple Listing Service.
Just a couple of examples of good numbers which help us grasp how the Tucson real estate market is performing for some. This article give us something we can evaluate and assess not like the first one at all.
You should take the time to read both of these article in their entirety. When the Dictionary of exaggerated terms is shelved and replaced with good solid numbers we all benefit.
If you want to know how interest “The Dog” was after our discussion click his picture to see what he thought.
(All quotes taken from the Sunday June 1, 2008 “Arizona Daily Star” as referenced in the links to the specific articles)
