Taking out a full-page ad in USA Today's Oct. 6, 2006 edition, Realogy is sending a strong message to the press, the public and its franchisees -- there's a positive story to tell about real estate -- namely, that interest rates are low, inventories are favorable, and now's a great time to buy a home.

Says Alex Perriello, president and CEO of the Realogy Franchise Group (ERA, Coldwell Banker, Century 21, Sotheby's, The Corcoran Group), "We’re trying to motivate buyers with the facts. Rates are good, inventory is plentiful, and people are buying homes. Armed with the facts, we think buyers will feel confident enough come down off the fence that the media hype has put them on."

In a letter of explanation to franchisee brokers, owners and office manager, Perriello wrote:

"Tomorrow, Realogy is running a full-page ad in the main news section of USA Today to shine a positive light on the opportunities that exist in the current real estate market. We have attached an advance copy of the ad for you to share with your colleagues as well as your homebuyers and sellers.

"Although the media has focused on the downside of the changing real estate market, there are also compelling messages about real estate that we need to reinforce to consumers. The recent extended drop in mortgage interest rates and the greater selection of available homes make this a good time to buy.

"This ad marks the start of a concerted effort to underscore the positives that exist in the real estate market. Periodically, Realogy will be sharing topical news articles, market data and survey findings with you to talk about with consumers in order to help reinforce the inherent value of buying and selling real estate.

"As real estate professionals, it is our responsibility to understand market conditions and explain them to consumers so they hear the entire story and can make well-informed decisions.

"We have a good story to tell. Let’s tell it."

It's high time somebody fought back against the deluge of negative press the housing industry has received of late, and slowly people are beginning to stand up to the financial press, the me-too press and others who so enthusiastically posted and sometimes spun housing data as negatively as possible.

Despite pleas for reason by economists such as Frank Nothaft, chief economist, Freddie Mac, and David Lereah, chief economist for the National Association of Realtors, that housing is not going to crash on a national level, the financial press has appeared to take delight in the falling sales and prices of select areas, and blowing them up to appear as if those areas are the norm, including parts of southern California, Florida, Nevada and Michigan.

As Nothaft pointed out over a year ago, "Freddie Mac's analysis of single-family houses over the last half century hasn't shown a single year when the national average housing price has gone down. The last consistent drop was during the Great Depression, when the unemployment rate got up to 25 percent, or five times the level we're at now."

Since then fears have escalated that 2006 will end as the first year since the Great Depression that home values have indeed dropped below previous years' records. But the circumstances are far from the same. Homeowner benefits, from tax relief to low-interest Federally secured loans, are enormous. Mortgage interest rates are back to February lows. And higher home inventories mean better selection for homebuyers to improve their vantage point as homeowners.

"If you see that investors are accounting for a third or a half of purchases in a local community, then I would be more concerned about speculative fervor," said Nothaft. "And I would expect stagnation in home-value trends in markets where unemployment is higher than 7 percent."

While unemployment has certainly hit some parts of the country hard, such as Michigan staggering under GM and Ford's woes, nationally unemployment has trended downward and is currently at 4.6 percent.

But the financial press has yet to laud the good news in housing, and that's why Realogy has taken over the reins.

Perriello isn't alone in thinking that the popular press has gone too far and is actually creating its own negative drag on the housing market. A week ago, Nicolas P. Retsinas, director of the Joint Center for Housing Studies at Harvard, wrote an op-ed for the Cincinnati Press titled, "There's Nothing To Fear In Housing Market" in which he said, "Cassandra, though, can stop wailing: the expected price corrections mark a slowing in the rate of increase -- not a precipitous decline. This will not spark a chain reaction that will devastate homeowners, builders and communities. Contradicting another gloomy seer, Chicken Little, the sky is not falling."

This is not to discount the fears of people in areas where there has been tremendous investor speculation or job loss, but as Nothaft points out, real estate is local and dependent upon local economies.

Perriello says,"We will certainly continue our efforts to share the ‘good news’ using a multilayered approach. Whether it’s through additional ads, media interviews, or sharing market statistics with the brokers and sales associates in our networks, our desire is to end the buyer-seller disconnect that still exists."

Published: October 9, 2006

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.