You hear sometimes that real estate is "local", that each market has it own rules, in essence. I think that is true. However, many people read the latest real estate news article and think that it pertains to them.
I'm calling it the Yahoo affect.
It's when a potential customer reads an article online about the national real estate market, rate increases, fed comments, and a housing bubble and assume that it pertains to their area. This is not necessarily the case.
You rarely, if ever, come across an article talking about local market conditions. Not all markets had a meteoric rise in home prices. Many were steady and honest (for lack of a better way to put it) - like Ithaca.
The market I am in, Ithaca NY, is thriving. We have had steady growth and development, not the overheated market like say, Boston.
Its too bad. But this is the way the market works - i guess.