Bad news sells papers and gets people to tune in to the evening report.

A solid housing market doesn’t make news, but the "waily, waily, waily" of a down market can. ("Woman commits suicide over foreclosure" — remember that from last week?)

It’s a bit wearing.

Enter the Real Estate Bloggers with a post, "26 Things The Media ISN’T Telling You About The Real Estate Market."

It’s time for the media to quit all the doom and gloom reporting, even if it gets more ratings than fluff stories; for the lazy agent to quit whining that there’s no work to go after; and for everyone to realize that what we’re REALLY seeing across most of the country is simply the leveling out of a major housing boom.

What follows is a list of facts gleaned from various sources. A few are worth pointing out.

4.  Only 15 out of 50 states have shown any actual price decline in the past year. The rest still show modest appreciation in home values.

Virginia had an overall increase of home values of six percent from the second quarter of 2007 to the second quarter of 2008.

8.  A “boom” in economic terms means a period of unsustainable growth - with the term unsustainable being the keyword. In the real estate world, a boom market is considered one in which prices have risen over 30% in 3 years, while a bust market is one in which home prices have dropped by at least 15% over a 5-year span. By that definition, very few markets are experiencing a bust. It is more likely that prices are simply bottoming out from the big boom. (According to the Federal Deposit Insurance Corporation.)

Definitions can be tricky things. We’ve all see how terms like "bull market," "recession," even "torture" can be redefined to suit your point of view. But "housing bust" is a lot stronger than "post-boom housing readjustment."

21.  Most of the decline is seen around 2 main types of markets: weak, industrial economies that are under pressure from the struggles of the Big Three automakers; and the areas that were previously part of the biggest boom markets.

Virginia, in case you hadn’t noticed, is neither.

No one’s saying the housing market is running on all cylinders, or that there hasn’t been a pretty major decline. That’s obvious. But a little perspective can go a long way, and a little hard data can help. Kudos to the Real Estate Bloggers for giving some of each.

PS:

25.  Many real estate agents are helping to fuel the supposed ‘market bust’ by giving in to fear and worry. They believe what the media and politicians are saying and are simply giving up, using the excuse that ‘the market’s no good.’ If agents’ were out there working hard, cultivating prospects and persuading people to buy or sell, the market would show definite improvement.

For the past 12 months, an obscure agency created by President Herbert Hoover during the Great Depression has come to the rescue of the banking industry. It is called the Federal Home Loan Banks.

Like Fannie Mae and Freddie Mac, the FHLB is a government-sponsored enterprise. But it differs from the wounded giants in some significant ways. Instead of being owned by public shareholders, as Fannie and Freddie are, the 12 independent regional FHLBs are owned by their 8,100 members.

(If you want just an overview of the FHLB, Slate links to one.)

W00t!

Quoth:

Virginia remains an excellent location for new or existing businesses. It has the best regulatory environment by our count, thanks to the second-best incentive programs in the country–as well as the fifth best tort atmosphere. Other high points include energy costs 30% below the national average and an educated labor force fueled by its proximity to Washington, D.C., and top colleges like (sic; should be "such as") the University of Virginia and William and Mary.

The rankings "measure states on six main areas of importance: business costs, labor supply, regulatory environment, current economic climate, growth prospects, and quality of life." ("Measure" is a strong word — most of those are subjective. But still.)

And now for a little schedenfreude:

Business costs are weighted the most, but low costs were not enough to keep Louisiana and  West Virginia from being the bottom two in our ranking.

Still, we can’t rest on our laurels. Our lead over #2 Utah is "razor thin." [Snarky rationale for Utah's high score deleted.] Plus, "Driven by higher labor costs, business costs in Virginia jumped, and are now approaching the national average."

And the big story, per Forbes, is Georgia, which has jumped from 15th to 5th place. Major lessons to be taken from those peach-eaters: Think international. Georgia has been doing it for a while, including opening an economic development office in Seoul 22 years ago. Result: Kia Motors is going to open a $1.2 billion car manufacturing facility in West Point, Ga. that will employ 2,500 people directly, "and another 5,000 or so workers will be needed for the numerous auto suppliers popping up around the Kia site."

Georgia has also opened offices in Beijing, Mexico City; Munich, São Paulo, and Tokyo.

In an amazing coincidence (really, it is), the next issue of Commonwealth magazine will focus on — wait for it — working with immigrants. Cool, huh?

First, the practicalities as they affect REALTORS®. Well, practicality, because there’s only one, but it’s a biggie: that $7,500 tax credit. It’s basically a 15-year interest-free loan for first-time homebuyers from your dear old Uncle Sam.

To take advantage, you must not have owned your home during the three-years before the purchase; you must buy a home between April 9, 2008 and July 1, 2009; and you must have an income less than $75,000 ($150,000 for married couples).

So many, many people will qualify, and it’s something you need to bring up when you’re working with first-time buyers and trying to counsel them in an uncertain market.

And that, of course, is the idea: Give folks an interest-free loan and hope it convinces them to buy a home. But the housing bill is more complicated than that, and it has some notable downsides — and its share of critics.

The good

Offering first-time buyers an incentive in the form of, essentially, an interest-free loan, should help increase home sales, according to NAR. At the very least it could push some ‘fence-sitters’ over the edge and into home ownership. Supporters say even a small increase in home sales could be enough to jump-start the housing market.

The bill also extends a line of credit to Fannie Mae and Freddie Mac, and increases oversight of the companies — both these things should restore confidence in the secondary mortgage market that’s been clobbered by its over-enthusiasm on housing prices.

And the bill also allocates $300 billion, through the Federal Housing Administration, to let the government back cheaper mortgages (to bail out homeowners who can’t afford theirs) and for local governments to repair foreclosed homes and increase property values. “Mortgage relief” is a phrase that thousands of people will love to hear as they try to cope with skyrocketing payments on ARMs that reset on homes that lost value.

The bad

All these programs cost big money, money the government doesn’t have. And when government spends too much, you get inflation. Critics also point out that much of this money is going to bail out private corporations and irresponsible homebuyers, rather than letting the free market determine their fates. Many of the same critics say that this economic adjustment is necessary, and that meddling in the housing market with artificial stimuli will only postpone a full economic rebound.

(There are some other buried measures in the bill that haven’t gotten as much press, but should at least raise an eyebrow. For example, anyone working in the mortgage industry will be fingerprinted. )

While it’s easy to say that the housing bill is “great for America” or “a long-term disaster,” the reality is that, in any legislation this complex (600 pages!), there’s good and bad. And trying to predict its long-term effect on a monster economy like ours is all but impossible. So hang on.

Out on the Net

RealCentralVA brings us Ron Paul’s take: “[T]oday’s vote on the House floor dealing with the housing bubble there’s no sign that we’re about to tighten our belt and live within our means.”

From the Piedmont Real Estate Blog: “First, you should know that almost no one really likes this bill. But even those who don’t will generally admit they think it’s a necessary evil.”

Marc, a REALTOR® in Florida, offers his perspective: “It’s being touted as a panacea for our mortgage and housing market ills, but unfortunately comes nowhere near to being such.

Musings of Caroline Virginia says: “The Housing Bill that President Bush approved on July 30, 2008 appears to be a life preserver for many communities.”

Matthew Kelly of Geek Estate offers a detailed list of suggestions.

And the National Association of Home Builders has lots of information, too.

Where will future conventions be held? Will the budget be approved? Lots of questions, and answers coming soon. You’ll get them here first.

“You may be wondering, Mr. Brunner, why we’ve assembled this informal gathering of our homeowner association members here in your front yard this morning.”

“Uh, yes. I was just bringing the dog out to let him, um…. Could you let me throw some clothes on?”

“That’s not necessary, Mr. Brunner; you look dashing enough there in your bathrobe.” 

“Um, thanks. Well good morning, uh, neighbors.”

“I’ll get to the point, Mr. Brunner.”

“Harriett, please call me Scott…I mean, like you usually do.”

“Certainly. As president of our little association, I want you to know you’re among friends here, Mr. Brunner – friends concerned about the unusual zeal with which you have attempted to enforce safety rules here on our little cul de sac. Consider this an intervention, of sorts, Mr. Brunner.”

“Well, I…”

“We understand your interest in assuring our street is safe for the children. We share that interest. But is it not true that you have taken up the habit of accosting random service delivery vehicles here on our street and tongue-lashing the drivers for reckless driving?”

“It wasn’t a tongue-lashing, exactly. You’re talking about when I shouted “slow down” at the mail lady as she whizzed by in her little truck, right?”

“Well yes, that. And when you stopped the UPS man. And that Latino fellow from our grounds maintenance crew, who, I should note, was on a riding lawnmower at the time.”

“He was going fast.”

“He was mowing, Mr. Brunner.”

“I see your point.”

“You just about gave the poor man a palpitation hollering ‘Citizen’s arrest!’ the way you did.”

“I’m truly sorry about that.”

“Did you not also, Mr. Brunner, just last week right here in the street, with your arms waving and your bathrobe slightly – shall we say ­­– askew, chase down the Fishers’ sixteen-year-old son and his friends in the boy’s car?”

“Right. I apologize for that one, too.”

“And did you not refer to him at the time as ‘Jeff Gordon and his posse’ and threaten to report him to the Bureau of Alcohol, Tobacco and Firearms – a governmental agency that, by the way, has nothing to do with traffic control?”

“It was an unfortunate reference on both counts. I doubt Jeff Gordon would be caught dead in a ’97 Sentra with a busted muffler. But the kid was flying…”

“He was pulling out of the driveway next door. How fast could he have been going…in reverse?”

“What can I say? He struck a nerve. There are 12 children under age 10 living on this street, and like it or not, they sometimes play in or around the street. We don’t even have a speed limit sign.”

“No, Mr. Brunner, we apparently, instead, have you. It is, after all, not a playground. It’s a street, Mr. Brunner.”

“And they are, after all, children…who sometimes don’t remember to look both ways. All I’m asking for is for is safer driving. Slower speeds. I’ve been thinking what we need is a speed bump…”

“Perhaps that would explain the pallet of concrete you had delivered here to the front of your house yesterday, Mr. Brunner?”

“Well…”

“And the invitation neighborhood children recently received to what you’re billing as “Bob-the-Builder’s Bring-Your-Own-Trowel Street Party” later this afternoon?”

“Just a bit of neighborly fun.”

“There are child labor laws, Mr. Brunner. And permits, approvals, all of that.”

“You know what they say about forgiveness being easier than permission….”

“Mr. Brunner, the county builds speed bumps, not our homeowner association and certainly not individual citizens with a Barney Fife complex.”

“Touché.”

“And Mr. Brunner?”

“Yes?”

“Whatever you’re planning with that water cannon I can see there in your backyard, we urge you to rethink your plans.”

Scott Brunner is VAR’s CEO and traffic control officer. Email him at scott@varealtor.com.

Daniel Mudd, the CEO of Fannie Mae, received $11.6 million in salary, stock and other compensation for 2007. Richard Syron, CEO of Freddie Mac, took home about $18.3 million last year.

These guys have a lot to worry about these days, and I prefer that they concentrate on running their companies, rather than worrying where their next meal is coming from.

We suggested to one of our member service partners that it create a post we could put on the VARconvention.com blog. We thought that, it being a blog, we’d get something, well, blog-like.

That turned out not to be the case.

I can’t in good conscience put this up. I just can’t. So I hatched a plan. We asked the company, "Can we ask our bloggers and readers to improve it?" And the folks at Oakwood said, "Er… OK."

Here’s the "blog entry" they sent:

Oakwood Worldwide is the global leader and provider of furnished and serviced apartments. For one need or many, local or around the globe – Oakwood offers flexible, easy-to-use, custom solutions to meet any temporary housing need. A wide range of inventory and supplier management options allows Oakwood to provide the optimal housing solution whenever and wherever it’s needed – our clients decide and we deliver with reliability they can trust. With nearly 3,500 Oakwood associates worldwide, nearly 23,000 apartments, and more than 300 network partners to meet any need, we’ve got our clients covered. Our staff of trained professionals throughout the world, innovative technologies, and our unparalleled customer service have made Oakwood the premier choice in temporary housing solutions for nearly 50 years. For more information, please visit oakwood.com.

We need your help.

Fix it. Take a minute or two to edit to your heart’s content — or just tell us what would make you actually read a post from a company like this. Yes, it’s an ad. Help us make it an ad that works.

Why? Because if we can convince more people of what works and what doesn’t, we’ll all start seeing more readable (and more-readable) ads on the VAR sites.

Here’s a start:

"Got a client who’s waiting for a closing? Does he need a place to stay? That’s what we’re here for…"

(By the by, in case you didn’t realise it, the poll questions rotate each time you view the page. So there’s no way to figure, "It’s always the last choice.")