Isn't there a circular equation error here? Heck, before I spent $40,000,000 on an ad campaign, I'd check my math and logic...
Oh well. I hope they got some bang for their buck. People stupid enough to not notice faulty logic are stupid enough to buy a home at the start of a crash and pay someone 6% of the purchase price I guess.
February 02, 2007
I still don't get the logic of this NAR ad - someone help me here...
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15 comments:
Reasons to buy:
"Prices have stabilized and are starting to rise"
hahahahaha
Now is a great time to smoke up and say no to drugs!
What it makes sense to buy and sell at the same time - what don't you get?
Lets see, it does appear to be a great time to sell, because if you wait you'll only get a fraction of what you could still get today. But if I buy I'll lose everything and go bankrupt.So I guess they should have just come out with the "sell" campaign, but then nobody would buy.
Like tobacco warnings on packages, by law, there should be some percentage of fine print that describes real estate horror stories right from the mouths of those who got totally fu@&#d. (sorry about the language, but I simply could not find a more appropriate word.) By all means, print success stories also. This would let potential consumers see that there could be a dark side too.
The $40 million was probably paid for using a derivative investment, with the actual number put in by the NAR $50,000. The NAR is throwing around the $40 million number because it sounds impressive. When the dust settles, we'll all know most people actually only had a fraction of what they claimed to have.
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"Prices have stabilized and are starting to rise"
hahahahaha"
hahahahaha indeed. Stupid liars.
Oh wait in Orange County prices are up YOY. In NY prices are up YOY. In Seattle prices are up YOY. In Portland prices are up YOY. And in Atlanta, Dallas, San Antonio, Austin, Salt Lake City, Boise, Nashville, Memphis, Raleigh and many more.
Stop assuming Arizona/Florida = the whole housing market.
If you believe the government or NAR numbers on pricing I have some real estate in florida to sell you
Lies. All lies.
Prices are crashing, just not reported in the "official" numbers which don't include cash-back and incentives
People keep saying Orange county prices are up year over year, but housing tracker has LA prices down. What's the source for the Orange county data?
The ad has exactly 1 positive stat based on solid data, not predictions, and it's that pending home sales were up 4% in August 2006. July, September, October, November all fell, but hey August was up so you'd better buy while you can!!!
Keith, if the numbers do not include cash back and other incentives than how are you arriving at the conclusion that incentives are common and large? If you are willing to rely anecdotal evidence than I have some Franklin Mint Collector's plates to sell you!
I DO get it.
NAR is just a shill for RE Industry. Just like political extremists on both sides;
1. NOTHING they say is EVER wrong
2. If something does go wrong, it's ALWAYS the other person (opposition's) fault..
People keep saying Orange county prices are up year over year, but housing tracker has LA prices down. What's the source for the Orange county data?
Housingtracker and housing-watch post ASKING PRICES. But SELLING PRICES are up in OC. This may seem counterintuitive but it makes perfect sense.
Asking prices were way out of wack 12 months ago. So someone lists a home for $800,000 in Jan '06. It stays on the market forever with no offers. Then the seller drops the price by 10% to $720,000 and sells for $715,000. On housing-watch or housingtracker, that is shown as a 10% drop.
But in reality that home selling for $715,000 is 1 or 2% higher than what a similar home sold for 12 months ago. And that is the data that shows prices rising.
And at the end of the day the only thing that matter is selling price. All the rest - asking price, days on the market, number of listings, foreclosurers - is background noise.
The ad has exactly 1 positive stat based on solid data, not predictions, and it's that pending home sales were up 4% in August 2006. July, September, October, November all fell, but hey August was up so you'd better buy while you can!!!
Pending sales are up 4.9% in December too. QWEEFIE must have overlooked posting that info so here it is.
February 1, 2007, 12:46 PM CST
A widely watched housing indicator edged higher in December, suggesting that the wilting real estate market has stabilized, according to the National Association of Realtors.
The Realtors' Pending Home Sales Index increased nearly 5 percent in December. It was at its highest level since June, though it was down 4.4 percent compared with December 2005.
and here is the reaction from that news:
Thu Feb 1, 6:02 PM ET
NEW YORK - Prices for U.S. Treasury bonds were dragged down Thursday by a report that suggested the housing market was stabilizing.
The data back up suspicions among investors that the housing market may already have troughed and is starting to improve.
This NAR ad is like a monkey-trap. The monkey tries to grab the banana out of the jar but when he makes a fist it is too big to get out of the mouth of the jar. The NAR can't decide whether to focus on buyers or sellers, they aren't smart enough to let go of the banana.
You know what? I'm going to exercise, eat right and live right. Why? So I can have the joy of outliving David Lereah and dance on his grave.
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