It's times like these when I couldn't be more proud to be an HP'er:
Here's the standard whiny real estate clerk letter in the Las Vegas Journal (which I thought for sure was meant as an ironic joke, but alas, it was not, it's the real estate clerk who is the joke):
LETTERS: Spare us bad news about housing market
To the editor:
OK, by now even the most casual observer is aware that the Las Vegas real estate market is not doing well. We have been bombarded by your newspaper, network news, and the Internet telling us over and over again how bad things are.
It seems as if almost every day you run an article predicting the percentage that the market will decline and quoting the same experts (over and over) with their personal opinions (which is all they are -- no one has a crystal ball).
Enough already. The sellers know the market is tough, and it is very depressing for them to see article after article about how bad things are and how much worse things may get. Prospective buyers who read your articles predicting a "possible 5 percent to 10 percent decline" in prices are smart enough to figure out that maybe they should wait to purchase.
You keep saying the average home price is around $300,000. If I were a prospective buyer and saw that a 10 percent decline was expected this year, I would wait a year to buy and save $30,000.
Perhaps all the negative news and press is partially responsible for prolonging this real estate decline. You are creating a surge of "fence sitters" when you predict to buyers that more money can be saved if they wait. If you could you just refrain from running an article every day about the dismal market, maybe things could turn around.
Las Vegas is a great place to live. Let's focus on the positive.
Karen Newkirk
LAS VEGAS - THE WRITER IS LOCAL REALTOR.
And Here's HP'er John's response which they then published:
LETTERS: Slow housing market not all bad
To the editor:
In response to Karen Newkirk's Tuesday letter, "Spare us bad news about housing market".
Ms. Newkirk, a Realtor, believes that accurate reporting by local and national newspapers is somehow causing the bursting of the housing bubble. Apparently, when one's commission checks are affected, it is time to find a scapegoat.
She should realize that inventory increased, home sales slowed down, and prices fell because of other factors, such as: too many speculators in the market, the lowering of lending standards, foreclosures, developer overbuilding and -- most importantly -- affordability. The average person no longer can afford the average house. Something has to give, and I doubt that wages will be greatly increased.
When Las Vegas house prices were appreciating by 10 percent to 20 percent each year, and this was reported by the newspaper, did Ms. Newkirk write to complain that the reporting of price increases was fueling even higher prices, and thus eliminating many potential buyers who only want affordable housing?
Reduced prices will give more people an opportunity to own a home, and for them that would make Las Vegas a great place to live.
John Hildahl
February 09, 2007
Whiny realtor writes letter to editor complaining about media coverage. HP'er then puts her in her place. Gotta love it!
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20 comments:
1) spell 'whiney' right
2) nice job, John. I'm sure she never expected a "fair & balanced" response. The msm is supposed to be a one-way megaphone where the REIC tells the people what they want them to believe. Of course, you're off her Christmas card list...
she probably won't e-mail you her recipe for cookies either...
whine (hwn, wn)
v. whined, whin·ing, whines
v.intr.
1. To utter a plaintive, high-pitched, protracted sound, as in pain, fear, supplication, or complaint.
2. To complain or protest in a childish fashion.
3. To produce a sustained noise of relatively high pitch: jet engines whining.
v.tr.
To utter with a whine.
n.
1. The act of whining.
2. A whining sound.
3. A complaint uttered in a plaintive tone.
whiner n.
whining·ly adv.
whiny, whiney adj.
ok, so we're both right on whiney. Your spellin' looks strange though.
OWNED
I'm shedding a tear.
Lets tie him to a steak and whip him for 9 days.
Quote: "Las Vegas is a great place to live. Let's focus on the positive." That's the problem, too many consumers have been only told of the positive-in relation to home buying.
Dear Keith,
Spell 'was' right. (:
iw
(which I thought for sure mas meant as an ironic joke,
just sayin
from someone who can not spell.
John did a great job!
John Hildahl
F**K YEAH!!!!!
Sorry but, Whiney realtor is redundant!
Buyers ... ??? what buyers ...??? What imaginary, mythical freaking buyers ... ???
Doesn't anyone that has ever seen a house ... have 1 ... or 10 already ...
Cool.
cow_tipping.
That sounds like something Faux News would do
"When Las Vegas house prices were appreciating by 10 percent to 20 percent each year, and this was reported by the newspaper, did Ms. Newkirk write to complain that the reporting of price increases was fueling even higher prices, and thus eliminating many potential buyers who only want affordable housing?"
F---ing poetry. Couldn't have nailed it better myself.
I can't figure out why that Las Vegas REALTOR(tm) is complaining. Didn't she get the last few dozen monthly reports from the NAR:
"We've hit bottom."
"The worst is behind us."
"It's a great time to buy!"
The whiney realtor wasn't complaining when prices went up 100-200% and her commission remained at 6%.
And now we're supposed to feel bad because she can't sell a house to sustain her lifestyle that was an illusion fueld by the greed of specultors, realtors, mortgage brokers, builder etc.
Welcome back to reality!
These days, whenever I see a letter to the editor of someone (usually a bitter seller or realtor) complaining that the media is exacerbating a decline, I take a much bigger picture of free speech in the media than what has been presented here.
Maybe that whiny realtor would be happy if we didn't talk about how bad things are in Iraq. You could take her letter to the editor, modify only about 20-30 words, and turn it into a letter telling the paper not to talk about Iraq! So maybe we should let the media say that Iraq is moving closer toward peace and stability every day. Otherwise you're just rallying those darn insurgents to set off more bombs because you are encouraging them, darnit!
Or maybe we shouldn't let people know through the newspaper that a sexual predator is living in their neighborhood. You know, it's just bad news....who wants that? Let's just keep people in the dark and talk about positive, happy things.
Or maybe we should not let the newspapers report current and forecasted economic data like GDP, inflation, etc., unless it will likely be interpreted as positive news for a growing economy. If the numbers aren't good, let's just be hush-hush about it. The important financial decisions that "common folks" need to make every day shouldn't have to put up with such bad news. It gives people migraines, for crying out loud.
When placed in this context, I think the message is clear. The media is there to INFORM us, to report events and gather both facts and opinions on those events. It gives people more information to make better, more informed decisions on how to run their lives.
If this whiny, ill-informed realtor doesn't understand why this information needs to be reported, maybe she should move to Cuba or North Korea, where government control of the media is alive and well.
You properly dissected her argument and once again whether investing in real estate or stocks we cannot disregard the fundamentals- what is the underpining cause for a demand and can it be sustained and is it supported by solid reason or emotion alone. Affordability is key and both buyers and sellers are now facing this reality with it being painful for sellers.
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