Gotta love realtors - a year ago it was "Housing is your best investment - and prices have NEVER gone down."
Now, a year later "Get out now while you can, prices are gonna TANK!"
They get paid on the way up, and they get paid on the way down, they get paid when they lie, and they get paid when they're wrong.
And that's why these two-faced blood-suckers just need to just go away.
August 06, 2006
Realtor interviewed by CNBC talking the new talk: "Price right now, to get out now, because we don't know where the bottom will be"
Subscribe to:
Post Comments (Atom)
15 comments:
Does this mean that realtors will remove their photographs from their cards and advertising? Gawd, I can only hope.
REALTORS might even stop shouting their name
The entire profession needs an enema
If you think real estate agents are bad, just try going to a real estate attorney. You haven't known the definition of "bloodsucker" until you have had the delightful (not) experience of dealing with a real estate attorney. Wait until the average Joe Blow starts trying to sell his property on his own, with the "help" of a real estate attorney, especially if the buyer also has a real estate attorney. WHOOOOEEEE! Now there's a real hoedown hootenanny!
Great post Keith! Finally, some truth coming out of CNBC about real estate. And what did the Real Estate Agent say, after Labor Day if inventory goes up who knows where the bottom will be. Lord A Mighty! I'm glad that I don't suffer from that dreaded herd mentality. I pity the people who will be stuck but then it would have been impossible to tell them otherwise in 2004 or early 2005. I tried with several people I know but to no avail. I'm sure they thought I was the nut, but now they are stuck.
"I pity the people who will be stuck but then it would have been impossible to tell them otherwise in 2004 or early 2005."
Believe me, I tried telling my very own relatives about it and they thought I was just simply - jealous. Now, they don't even want to talk about it nor they can look at me straight in the eye.
i am watching a house across the street. It was listed with one RE agent for $200K. Lowered to $190K. No activity. i saw the owner there last weekend and said I might be interested around $150K but with no RE agent involvment. He didn't want to listen.
Now a new RE sign in front. I stopped the agents and asked the listing price. $170K, they said after a lot of research it was too high before. Funny but when I said "Suzanne researched it" they didn't have a clue what I meant!
I also said I would wait him out and maybe see him at $140K.
I hope they raise rates next week .50 points.
waiting them out - classic! keep us posted
suzanne - what a bitch!
The only thing lower than a stockbroker or a child molester is a realtor.......maybe a......what's the name of, oh, yeah necropheliac is even better.
Bumped into a friend whose wife was a bubbly RE Agent with expensive tastes in clothes and cars this weekend.
On asking how her RE Sales where doing in Milwaukee Area this summer, he said she got out of Real Estate sales because she wasn't making any money.
I almost laughed until he told me she of all people, was now a Financial Credit Advisor for some company.
I could only think to myself..the Horror..the Horror !
I posted at the begining of the year that realtors will lead the charge to communicate the markets new pricing to sellers in order to keep their transaction volumes moving. They live for transactions, not raw listings, though the previous boom made listings the end all.
Now its "counseling" the sellers to set a realistic price so that a transaction occurs. I actually believe they have more incentive to force the price low enough for a quick 2 week sale, rather than have to work really hard for 3 mo to more the turkey before the listing expires.
This is appauling. The RE industry needs serious reform. I have a feeling that this crash and the realtor recommendations leading up to it - and after it - will not be long forgotten. So many people are going to get their asses chapped, I predict congressional hearings on the subject to hear the painful sufferings of couples and families who listened to the RE fluff, gambled everything and lost it all..
Anon 2:02-
Actually, CNBC has been all over this bubble since early last winter at least.
It started with foreigners worried about the US housing market on the late night "World Wide Watch " show and then by late winter/early spring, American commentators were joining in.
There really is no excuse for people to be still clueless about what's coming.
Between common sense and news reports, only an outright fool would be out house shopping right now.
Anyone who gets burned now deserves it.
latest Lereah "bad news' report:
"The house party had to end eventually, even if sellers refuse to believe it. Many remain defiant to the point of delusion".
An actual quote by our main man!
Between common sense and news reports, only an outright fool would be out house shopping right now.
Dagnabbit, those $160K - $170K new build prices in Maricopa and Casa Grande (Arizona) were starting to look tempting...
As always, you have compiled a very interesting blog here. I think you would enjoy my real estate property listings usa blog. You should check it out if you are interested in all things related to real estate property listings usa
Post a Comment