KARE 11 Sweeps Story Distorts Issue - Go Figure!

I caught a recent sweeps Extra on KARE 11 by Rick Kupchella that really proves theory most people in Real Estate have - 90% of the coverage we get is either negative or outdated.

This report was BOTH.

Rick not only wears a rather questionable tie in the opening of this journalistic "piece" he contradicts himself.

Early on he asserts that:

For most Minnesotans, housing is the place where we have most of our money invested.

But just how much money we have there is in question these days, with the market in decline.

While there certainly is some truth to this statement (the market has slowed but we have not lost any ground on values) he reports later in the same story that:

Heidi Olson and Andrew Stoltmann lost two homes to competitive bidders in recent weeks, despite their bidding over the asking price.

and

Prices are high and surprisingly unwavering despite the slowdown in the market.

So which is it Rick? A market in "decline" or one where prices are holding and competition among buyers is heating up?

Sounds to me like he's trying to put a negative spin on a story that is actually improving. Most analysts agree that the market bottomed out LAST year...but yesterday's news does not a good sweeps week make!

It doesn't help that Rick interrogates Glenn Dorfman the "El Presidente for Life" of the Minnesota Association of Realtors (MAR). Glenn manages to insult the public telling them they are stupid to consider their homes an "investment" (which is what they are for many people - as well as being their home) and then in the next he's talking about a 2-5% return on their, um, investment!?!

In the end Rick sums up his story - about the DECLINING Real Estate Market by saying Buyers waiting for prices to fall are wasting their time.

The sad thing about this is that the take-away for most viewers is that the Real Estate Market sucks (it doesn't) and you should be afraid to make a move.

Fear & Loathing, the essential ingredients to most Sweeps Week Stories.

Here's a link in case you want to check out this story.

I smell Pulitzer!