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GOOD NEWS ABOUT REAL ESTATE

September, 2008

Sick of sad data about home prices? Come right this way. At HappyREnews.com (created by IMS, a researcher for realtors), all the news is positive. The fact that the median-priced home in Las Vegas is forecast to plunge another 18% in the next year is nowhere to be found. But the site does mention the one bright spot the Vegas market has to offer: The number of homes sold per month has increased since December. That makes HappyREnews the perfect place to wrap yourself in a cozy blanker of real estate denial. "There's nothing wrong with looking at the bright side," says IMS president Leon d'Ancona.

Even if you don't crave the Kool-Aid, the site is worth checking out so you can see the date that realtors will be gathering in order to convince you how good the market is. Ask realtors a couple of pointed questions: Are home prices stable? Are there more or fewer homes on the market than there were last year? If they’re still smiling, watch out – they might be sampling their own stuff.

-JOE LIGHT




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