Many people want to look at any news on the housing market and immediately categorize it as either good or bad. In reality, most news about real estate is not‘good’ nor ‘bad’. It’s just news.

Current home values are much lower than just a few years ago. Many see this as bad news. However, there are two competing parties in every real estate transaction. When a house sells today, 50% of the people in the transaction (the sellers) could see the lower prices as bad news. However, the other 50% (the buyers) probably see this as great news.

Many have said the struggling global economy is horrible news for the real estate market. But, the current economic challenges have also brought us sub 4% mortgage interest rates. We will see the eventual resurgence in the economy as good news for housing values. Let’s just realize that, at that time, we will also see rising mortgage rates as bad news for buyers.

There will be challenges in every housing market. Those challenges will also bring opportunities. Spend less time trying to categorize the news and more time highlighting the opportunities the market presents.

— Reposted with permission of Keeping Current Matters

About The Staten Island Board of REALTORS® (SIBOR)

The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.

SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.

Comprised of over 1,600 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.

SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.

All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).

SIBOR may be reached at 718-928-3220 and viewed online at http://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Living,” on Twitter via @SIBOR, and on YouTube at the Staten Island Board of Realtors and RelevantPR channels.

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