Nearly every day now, headlines and feature articles in the local papers talk about some terrible economic news, foreclosures, the buyer's market that we are in. Many of these articles originate in New York, Los Angeles, or Washington. Sure, things are pretty grim, but when readers in Santa Clara Valley see the headlines, they often don't read on and realize that this is not a picture of the Sunnyvale, Cupertino area, where good schools and jobs combine with low inventory to produce a strong market. So when someone from San Jose wants to buy one of our carefully priced properties, he remembers reading "Buyer's Market" and comes in with a lowball offer, as someone did on my townhouse listing this week. I am afraid that the newspapers will create a new reality and outside opinions will begin to effect our property values. Can headlines take precedence over traditional supply and demand?
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