Who do you think has the most powerful voice in the world? You know, the one who most influences people’s opinions.
It’s not George Bush. It’s not some presidential candidate or Hollywood star, professional athlete or music idol. It’s not even the Pope or the Dalai Lama or Bill Gates.
It’s the MEDIA. Yes, the media decides what is important and what isn’t. Who’s good and who’s evil, what is right and what is wrong. It sways opinion, builds concensus. It can give someone their 15 minutes of fame or tear down and destroy a person. Consider how the media has influenced your perception of Anita Bryant, Jimmy the Greek, Vietnam, Patty Hearst, Thomas Eagleton, Walter Mondale, Muhammed Ali, Richard Nixon, hippies, the World Trade Center bombing, John Dean, Mel Gibson, Bill and Hillary Clinton, Paris Hilton, and Hurricane Katrina. And …, the real estate market.
The real estate market was the darling of the media from 2001 to 2005. “Buy, buy, buy”, they said, and people did. But then that story got old and tired. Time for a new slant. “There’s gonna be a bust” became the new story. Folks backed off from the real estate market, choosing instead to sit on the fence to see what happens. Actually, most were just waiting for the media to say it’s okay to buy property again. The media hasn’t yet bestowed its blessing on that notion.
In the second half of 2007, our real estate agency noticed a decided upturn of business in our Cape May County, New Jersey area. Buyers were coming back. It seemed to be people mostly in their 50′s and 60′s who came to the realization “What am I waiting for? I’m not getting any younger”. If they wanted their piece of the pie at the Jersey shore, now was the time.
The trend continues here in early 2008, making us wonder when the media will catch on. Interest rates are under 6%, there is plenty of inventory to choose from, and prices are down about $100,000 from 2004. To the opportunist, the conditions are perfect to get a good deal.
To those unwittingly hog-tied by the media, they’ll continue to sit on the sidelines. But for folks who have worked hard all their lives while dreaming about owning a condominium or house at the shore, their time is now!
- Mountain Man
To read more about the real estate market in Cape May County, New Jersey go to our website at http://www.JewellRealEstateAgency.com and click on “Newsletters”. You’ll find years worth of our Newsletters, full of our thoughts and observations.
Tags: beach, Cape May Court House, Jersey shore, media, ocean, real estate blog, Wildwood, Wildwood Crest