Tuesday, August 5, 2008 - Signs of the Times - LA Times, That Is

Ask just about any real estate agent and she'll tell you that advertising in a newspaper is a waste of money. Most buyers use the internet these days to look for houses. Last year I gave newspaper marketing a good test -- did a lot of it for open houses and to drive people to my website. Nada. So I've given it up this year. It just isn't a smart way to spend advertising dollars. So the following news wasn't a total surprise...

Newspapers have really been hurting and there is no starker evidence than this -- the 107-year-old Real Estate Section of the Los Angelos Times has folded, along with the sharpest staff and production cuts in the newspaper's history. Chatter on the internet has it that this is the start of a trend that will hit other large newspapers as well.

I know from the blog of a local photographer that the Baltimore Sun just laid off at least 100 people; 60 from the newsroom -- he was one of those let go.

In a somewhat related story, there was a news article in the NY Times about a new wave of foreclosures that are looming - those with good credit are struggling with mortgage payments as unemployment rises.

Well, here's hoping that there's NOT more to come!

(C) Susan Pruden.