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Home Foreclosures: A Tale of Two Different Articles

December 12th, 2009 categories: For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

Both Say the Same Thing, Kinda, but the Spin is Different.

Just for drill, lets look at two articles reporting on a recent decline in monthly home foreclosures. The facts in each article are essentially the same, but we thought it worthwhile to compare each in tone. Obviously one presents a different perception to the public than the other.

Here’s how CNNMoney.com reports it:

Head: Foreclosure plague slowing: Filings fall 8%.

Sub head: Foreclosure filings fell by 8% in November, making it the fourth consecutive month of improvement in the housing market.

Here’s how CNBC.com reports the same thing:

Head: US Foreclosures Show Decline, But Drop May Be Temporary

Sub head: The nation’s foreclosure rate fell last month to its lowest level since February, according to new data, but the drop might be temporary.

Things are getting somewhat better. How much so, and how long recovery will take is anybody’s guess. All seem to agree that we’ve got a long road ahead of us. One thing for sure is foreclosures will continue to be a drain on housing industry recovery until the U.S. jobs market returns to normalcy. In the meantime, we’ll report both the facts, and spin when we find it, as the recovery road unfolds.

We’d also like to note that there are superb housing deals to be had in South Lake Tahoe today. And we are confident that will continue for some time to come.

At present we are seeing the median sold price repeat itself somewhat over the last quarter once again. We will be doing median sold price reports in our next few posts to help bring you up to date with where we are now, how much the decline has been to date, and the effect that foreclosures have had on the South Lake Tahoe real estate market.

(CNNMoney.com article here, CNBC.com article here)