Mortgage Myth Busters: There is a sliver lining to everything - Negativity has a positive twist

There is a sliver lining to everything - Negativity has a positive twist

media outlets - bad news is bad, just give us the good news

 

Negative news can bring someone down, don't we agree? In the last 3 years, we have heard a lot of negative news about the real estate market. But before I get started, let me ask you one simple question. Would you rather hear the truth, or would you rather hear fluff, misleading information, or information that you want to hear just to make you feel all warm and fuzzy inside.

What inspired me to write this was a post written by Christopher & Stephanie Somers. "It's the End of the World As We Know It..." or is it? -

 

After reading the post, which I thought was very well written, there was a negative comment talking about all the negativity within the post. Now, I have no problem with people voicing opinions and such. But shouldn't the public get the real story, the real facts, and not facts that are watered down to make it smelling all peachy. I will say this, I don't believe in scare tactics either. Here is a perfect example of a great scare tactic with wrong information. Paula Henry wrote HUD guidelines are creating misinformation and scare tactics. - You want to talk about negative news, please read Paula's post. And the sad part is that it's extremely wrong and misleading. 

Let's look at one topic mentioned in Christopher's post, The Homebuyer Tax Credit. They bring up that there shouldn't have been this so-called "hangover" in July because July's numbers were lower than in June. The reason being is that all buyers wanting the homebuyer tax credit had to settle by June 30th, 2010. (this of course was prior to it being extended to the end of September) Well, common sense should have settled in here, but I keep reading the opposite out there. And overall, numbers seem to mislead the general public that it has even gotten worse because numbers for purchases have dipped some. I don't want to get into such numbers and my opinion. The point being is that people needed to know why there has been a difference in regards to "sales" dropping more recently.

 

Conclusion :Can't we be positive and learn from the negative news?  I will agree that I don't like negative news at all. But in regards to the post written by Christopher and Stephanie Somers, can't we learn from the negative? ... Making a positive out of the negative?  Doesn't the public deserve to hear the truth in a polite manner. It's hard to talk sweet about any kind of negative news.  It's not easy at all. And I think they did an excellent job with this article. I would rather have someone shoot straight from the hip than someone throwing me curve balls all day long, keeping me off balanced and such. What about you?  What do you prefer?  Bad news made to look like a white cream filled donut?  Give me your thoughts.... My question to you, can you handle the truth?

 

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Copyright © 2010 by Jeff Belonger of Infinity Home Mortgage Company, Inc

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follow Jeff Belonger on Twitter

 

The FHA Expert's fan page on Facebook     Add Jeff Belonger to your network @ LinkedIN

                                                                            FOLLOW ME ON FACEBOOK

 

 

- FHA Loans - USDA Loans - VA Loans -

- Energy Efficient Mortgages - 

- Conventional Loans - 203 k loans -

- FHA Home Loans - Mortgages -

 

Experience & Knowledge at its BEST !!!

 

 

Follow me on:

Mortgage Myth Busters

 

______________________________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

HUD

 

For information about FHA myths & FHA rumors, please read : FHA Myths & Rumors

 

Copyright © 2011 by Jeff Belonger of Infinity Home Mortgage Company, Inc

Comment balloon 28 commentsJeff Belonger • September 07 2010 09:41AM

Comments

I always want the truth, whatever it may be.  If we can't know the truth, then we can't act appropriately to improve the situation.  I ALWAYS address negative issues in my business head on.  Doing otherwise is just putting my head in the sand, and apparently that doesn't work so well.

Posted by Tiffany Wilson, SFR, First Time Home Buyers & Investors (eReal Estate Corp) about 10 years ago

Anybody over a certain age knows that we learn from our mistakes (negativity) and we usually end up better people on the other side.  So yes, I think we shoot from hip, tell it like it is, and leave sugar coating to the eternally optimistic.

Posted by Margaret Goss, Chicago's North Shore & Winnetka Real Estate (Baird & Warner Real Estate) about 10 years ago

Jeff - some people seem to delight in spreading negativity and being negative, no matter what. Absolutely people need to be told the truth, but how you do that and the interpretation you make about the truth is where the trouble can arise. If you know the truth you can deal with it accordingly.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California, Inc.) about 10 years ago

 

Here is a post that I had to write a week ago, killing false & misleading information. Misleading rumors about FHA mortgages and the monthly mortgage increase.


TIFFANY.. . I think many of us do, but some just feel like they have been beat down with the negative news so much, that they can't handle it anymore. I agree, I think we can try and improve things if we knew the truth.  thanks

MARGARET... . I am not sure that everyone learns from their mistakes.  ;o)  I will leave that one alone. But yes, just give it to me straight, stop sugar coating it.

JEFF... . sure, we have those that are negative 24/7... but then others that just find the bad in a post that talks about negative news. Overall, yes, if you know about the truth, then you can deal with it appropriately.  thanks

 

Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) about 10 years ago

Hi Jeff, I found your post as a reblog on Lenn's blog. You are on the money here and though it may be "bad" news, it's the truth and we have to have that before we can do something about it in a positive and constructive manner!

Posted by Russell Lewis, Broker,CLHMS,GRI (Realty Austin, Austin Texas Real Estate) about 10 years ago

I like to set the record straight with anything negative.  Just had this happen with local news airing NAR figures of the 25% market decline which caused panic in our local market.  If you are going to report numbers address it with a local follow up because locally our market is only down 2% from last year---big difference.

Posted by Marilyn Boudreaux, Lake Charles LA Century 21 Realtor (Marilyn Boudreaux, Century 21 Bono Realty) about 10 years ago
Jeff - the facts, give me the facts and nothing else! I am an adult and can handle the facts but do not BS me, as you won't get a second chance. I simply won't do business with anyone I find telling me something that they know is not true! Negativity breeds more of the same!
Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) about 10 years ago

 

RUSSELL... . thanks... yes, many of us do believe that we need the bad news before we can do something about it.  Good point, thanks

MARILYN.... . local news is a big part of bad news gone wrong, such as you mentioned. I wrote about this over a year ago. Hey all you MEDIA OUTLETS, listen up, I am pissed !!!!!! - So yes, wrong/misleading information can put a panic out there... thanks for sharing.

BARBARA.... I believe in second chances, depending on the situation. But yes, if someone withheld info and that it was not true, no second chance.  thanks

 

Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) about 10 years ago

You are what you think.  Think negative and you will be...think positive and you will be.

Posted by Yvette Chisholm, Associate Broker - Rockville, MD 301-758-9500 (Long & Foster Real Estate, Inc.) about 10 years ago

Jeff, Honesty...transparency.  That is what my consumers demand have the right to be told the facts of "Real Estate" life right now, good and bad.  I'm with you...it can be positive when it involves negative information.  Facts are just that.  We can't change them BUT we can learn to deal with them and find a silver lining :)  Have an awesome week JB!

Posted by Elizabeth Cooper-Golden, Huntsville AL MLS (Huntsville Alabama Real Estate, (@ Homes Realty Group)) about 10 years ago

Jeff, Honesty...transparency.  That is what my consumers demand have the right to be told the facts of "Real Estate" life right now, good and bad.  I'm with you...it can be positive when it involves negative information.  Facts are just that.  We can't change them BUT we can learn to deal with them and find a silver lining :)  Have an awesome week JB!

Posted by Elizabeth Cooper-Golden, Huntsville AL MLS (Huntsville Alabama Real Estate, (@ Homes Realty Group)) about 10 years ago

I would rather hear fluff! :) 

Of course, I'm kidding.  No matter how hard it is to hear...I would rather someone shoot straight with me. 

Who says sales have dropped??  I have had a lot of buyers (and not just investors) buying...I think just about anybody can stack the numbers in favor of the argument they wish to win...but that's another topic... ;)

Posted by Sonja Patterson, Texas Monthly 5-Star Realtor Recipient for the Hou (Keller Williams - BV) about 10 years ago

YVETTE.... . this can be very true at times. Hey, I am not perfect... I think that I am a positive person, but I do have negative thoughts at times.  But there are those that are always negative.

COOP... . real estate or not, we all deserve this ...  true transparency, and the real truthful facts.

SONJA..... I would hope you were kidding... lol In regards to sales dropping... Keep in mind, real estate is local.  In some areas, sales have dropped.  But the media doesn't break any of this down... or if in a specific area, that they even have screwed this up.  Marilyn mentions this exact thing in comment # 6...

 

Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) about 10 years ago

Belonger - Leave it to you to utilize a Cruise Clip.  :) 

I'll take the Marlon Brando stance as he portrayed in "The Godfather", I expect bad news very fast.  Going one step further, I don't care whether that news fits my ideas, thoughts, agenda(s),   I want it.  Because it's damn hard to grow by believing the perceiving that you think is the truth. 

And while I admire Yvette's borrowing of Yoda's philosophy, the fact is you can learn a lot from a sitcom ... or a Star Wars.

Posted by Jason Sardi, Your Agent for Life (Auto & Home & Life Insurance throughout North Carolina) about 10 years ago

Hi Jeff -- Statistics can do more harm then good as all real estate is local and the press plays off the sensationalism of it.

Posted by Chris Olsen, Broker Owner Cleveland Ohio Real Estate (Olsen Ziegler Realty) about 10 years ago

Whatever the news is you cannot change what is going on in the world, so you must adapt or be left behind.  You need to figure out where the cheese was moved to.  Get over it being wrong, or who's fault it is, does not matter spend your energy moving forward and quit wasting it worrying about what is wrong, find a way to make it work.  (Easier said than done, but where you definately need to be)

Posted by Mary Macy, Top Agents Atlanta Metro (Top Agents Atlanta Metro) about 10 years ago

 

SARDIMAN... . I totally agree with you and actually know of a good example that you would use.... it was unfortunate. But hey, the positive... you are doing much better now. Overall, your comment makes perfect sense from start to finish... thanks

CHRIS... . I agree 110%. hence why I get very ticked off when I read an article that is local, but the author never states it, and it's easy to assume that this happens every where. I got in a disagreement with a fellow AR member who wrote about appraisals. I said, this doesn't happen to me and I do business in 5 other states.  This person said.. this post was for my area, and my readers know where I work. I chimed in and said... not everyone will know this and you should mention this in your post. They went on to say, they respect me, but don't tell them how to write. Even after I make some sense, they still want to fight me on the issue...  lol

MARY.... . no, you can't, not at that exact moment... but you can make changes, if you know the facts, negative facts or positive facts.  And yes, you bring up an excellent point. Get over it... spend your energy on changing things then,... excellent point.. thanks

 

Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) about 10 years ago

It's all about the definition of 'truth'. If a report is negative, and true for the nation, but not true for my local market, what is the truth?

Posted by Joetta Fort, Independent Broker, Homes Denver to Boulder (The DiGiorgio Group) about 10 years ago
Jeff - You raise a great point ! I think the big picture is is to take the truth, the facts and to be proactive with it. Being that how can I use this information as a Realtor, as a Mortgage Broker as a Financial Advisor to help my clients ? That is what we tried to do with our post and thus, used that information for our September newsletter in terms of interpretting the date and trying to make sense of it and thus, making recommendations to buyers and sellers as well as providing valuable info to those folks just watching from the sidelines. Thank you for highlighting our post as part of this discussion. I am glad it was featured as it does allow for an interesting and constructive chat : ) ~ Chris
Posted by The Somers Team, Delivering Real Estate Happiness (The Somers Team at KW Philadelphia) about 10 years ago

Jeff, there was a chapter in a book i read years ago titled "the sustenance of a positive attitude through the assumption of a negative result". in an abstract way, your post brought that to mind. We certainly can't bury our heads in the sand but there are agents who walk around my office like Eeyore because they are fixated on the negative. There truly ARE positives in every negative if you look for them. Great post... Bill

Posted by Bill Swanson (Berkshire Hathaway Home Services Ambassador) about 10 years ago

 

JOETTA... . I think many media outlets and the writers fail to realize that there is a real difference between local markets and the national news that is put out there sometimes... thanks

CHRIS... . I know we all would want to hear the truth, but I can see a problem, that some don't stand up to, and that is when we are given misleading stats just to make us feel happy, safe, and like things are getting better.  Again, just talk to the small business owners in the trenches. Yes, any negative news that is truthful should be valuable to most anyone if handled correctly.  And it was my pleasure to include your post in this discussion... it's what led me to write this.  thanks and thanks for the compliment.

BILL.... . that is a problem, so many bury their heads in the sand or just dwell on the negatives and act negatively against them. Thanks for the input and for the polite compliment.

 

Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) about 10 years ago

Jeff - I think folks get so worn down with all the media hype over the doom and gloom of the market that sometimes they need an escape. When the negative news is non-stop and relentless they become numb and don't realize that those amazingly bad numbers are not their market. We need to educate them and help them understand the facts...

Posted by Brent & Deb Wells, Prosper TX (LivingWell Properties) about 10 years ago

Keep the emotions in check and use a little more logic.

It comes down to how you choose to respond to the information and facts.

Jason

Posted by Jason Potrzeba, Mortgage Banking Officer (Webster Bank) about 10 years ago

Jeff: of course. But we also need to temper it with reality. I've never cared for polyannas. Their head is in the proverbial sand in my opinion. Thanks!

Posted by Paul McFadden, Pest Control, Seattle, WA. (Paratex) about 10 years ago

Hey Jeff, I agree the negative in annoying but with out the necessary negative how could we learn and grow, it's the unnecessary negative that bugs me, but then again I guess you'll need that to learn too :)

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) about 10 years ago

Data isn't positive or negative, it just is. People make business mistakes when they believe that their personal feelings about the data are relevant. Our job is to translate data into usable information for clients to make decisions with.

Posted by Leslie Ebersole, I help brokers build businesses they love. (Swanepoel T3 Group) about 10 years ago

Tony Robbins -- possibly one of the world's most positive people -- has a way of talking about this.   If something is not what you want it to be or hence is negative, he advises that you just call it what it is.  Don't make it better than it is, and don't make it worse. 

That said, generally the focus especially on the "well, OK, that's what it is, now what can I do about it" side of things should overall be positive in tone.

Posted by John Lockwood (Lockwood Real Estate) about 10 years ago

 

BRENT & DEB.... . understand about the escaping part, hence why I hardly watch the nightly news.. lol  But yes, we need to educate them. thanks

JASON... . ah, emotions.,,, well said.. and yes, how you choose to respond to the facts. thanks

PAUL... . sure we need to temper it with reality and such.. but we need to face the facts also... thanks

CAROLE... . bingo, how can you learn and grow from it... some people just think negative when they see it, hear it, or read it. thanks

LESLIE.... . I agree, to translate such data and make people understand, good or bad.. thanks

ELITE PROPERTIES aka John... . yes, this person is very positive and good at speaking... but I have to be honest, I don't buy into his stuff all of the time. But that is a whole other topic...  But I agree, don't make the issues worse or better, meaning, to sugar coat it.  thanks for the feedback.

 

Posted by Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc) about 10 years ago

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