Since ramen-eating real estate clerks can only start making money again if homes start selling again, doesn't that mean that instead of denying the bubble and trolling housing panic with disinformation and spin, shouldn't they instead be out there SHOUTING that asking prices are WAY TOO HIGH, that homedebtors are delusional, and that if anyone wants to sell a home in this environment they'll need to DRASTICALLY cut their asking price?
In other words, are real estate clerks and the NAR even dumber than even we thought possible (it's a great time to buy and sell a home!)?
HousingPANIC's message for the real estate clerks of America - SHOUT FROM THE ROOFTOP TO ANYONE WHO'LL LISTEN THAT HOMES ARE INSANELY OVERPRICED.
Unless homedebtors hear that and hear it loud, you'll keep eating ramen. It is your job to make sure homedebtors panic at this stage, and buyers think they can get firesale prices. The days of "buy now or be priced out forever" are over. You fools!
Now get out there and get 'er done! Even though nobody respects or trusts you anymore, at least get your message right. Geeze.
In other words, are real estate clerks and the NAR even dumber than even we thought possible (it's a great time to buy and sell a home!)?
HousingPANIC's message for the real estate clerks of America - SHOUT FROM THE ROOFTOP TO ANYONE WHO'LL LISTEN THAT HOMES ARE INSANELY OVERPRICED.
Unless homedebtors hear that and hear it loud, you'll keep eating ramen. It is your job to make sure homedebtors panic at this stage, and buyers think they can get firesale prices. The days of "buy now or be priced out forever" are over. You fools!
Now get out there and get 'er done! Even though nobody respects or trusts you anymore, at least get your message right. Geeze.
Home prices should spring back in coming months, the National Association of Realtors said Thursday, after it reported that prices slid in 73 metro areas in the final months of the year.
Home sales seemed to have hit bottom already in many areas: 71 metropolitan areas had price gains, and 14 of them posted double-digit year-to-year increases.But it's unclear how far the improvement will go or how long it will last.
"At least the bottom appears to have already occurred," says Lawrence Yun, a senior economist at NAR.
23 comments:
I've been wondering the same thing for a couple of months. It would make sense for the RE industry to start shouting to homeowners: "SELL NOW, OR BE PRICED OUT (stuck in your own house) FOREVER!!"
But they're not used to this situation and they only know how to circle the wagons.
I've been talking to RE clerks and the newbies are just lost. The older one's are very savvy. They are very subtle in their disinformation campaign. The talk about how they just sold their listings are full asking price, but talk about how other listings are overpriced/unrealistic. Basically they are trying to mentally prep you to have them represent you and get you to accept a price that will make the transaction go so that they can transfer the ramen menu from them to you. So in addition to all the marekt issues out there be very careful and mindful of the masters of manipulation if you're in the market for a purchase or sale.
Holy cr*p!
Housing starts forecast this morning to be 1.6 million.
Actual housing starts: 1.4 million.
That's A HELL OF A MISS, even with all of the bad news which was swirling about already.
Man these idiots are dumb
They're getting what they deserve
Look at the chart at Piggington.com that was posted today! It's shocking. Click on the comments for it as well. There's another chart showing the rate of increasing foreclosures and it's very very scary. It's much worse than even we on this blog think it is.
I bet that Ramen tastes good with a sprinkling of humility on it
They are dumb.
A friend of mine is smart - he does RE on the side (he's an insurance agent full time) and when he gets a listing, he immediately confronts the homedebtor about lowering the price. If they won't lower it, he refuses to take the listing because he knows it will never sell.
Now that's smart.
One reason the the Real Estate Clerks won't call it is because they're holding real estate they need to dump on some unsuspecting suckers, I mean buyers.
There are a lot of "owner / agent" signs tagged to For Sales signs in the Phx metro.
Keith,
That's a stupid questions. Why don't the call the market?
THEY ARE REAL ESTATE CLERKS!!!!
NO SKILLS/LOW SKILLS = follow the corrup DL
I WISH housing would start going down (or at least quit going up) around here. I'm already sick of renting this lakefront condo and it's only been a few months. I kinda wish I would'nt have sold my house.
I have to keep reading this blog just to reassure myself that I am not the only person who sees a potential problem. If you listened only to the msm media-whores you'd still be buying the homebuilders and CFC.
Uhm because there is no crash? Oh there is a crash in HP land for sure. And in HP land gold will be $3000 and gas will be $8 a gallon any day now too.
In the real world however things are a little different.
Los Angeles Arebound:
http://seekingalpha.com/article/27225
Yesterday, DataQuick released the Southern California real estate sales report for the month of January. Overall, it's the same old story - from year ago levels, sales volume is way down and the median price is between +5 percent and -5 percent of where it was, depending upon where you live. For the region as a whole, the median price is up 6.1 percent from year ago levels.
Yeah a crash indeed with a 6.1% increase in prices. Oh but San Diego Co. is down 5%, a-ha say the HPers!! OK it's down 5%. That's FIVE percet. Not 50%. 5%. As in you bought for $800,000 and you've lost $40,000 of value. Not the end of the world people.
Part of the problem is that most of the sellers are also the buyers. So no home sale = no home purchase. Most of the new buyers stretched there budgets in 2003 through 2005. They can't afford to lower there price.
The teapot is about to blow!!!
"Yeah a crash indeed with a 6.1% increase in prices. Oh but San Diego Co. is down 5%, a-ha say the HPers!! OK it's down 5%. That's FIVE percet. Not 50%. 5%. As in you bought for $800,000 and you've lost $40,000 of value. Not the end of the world people."
OK, those are year-on-year numbers. Why don't we wait a few months, and see if you are still so excited that you feel the need to use the Mogambo Guru's trademarked double exclamation mark (DEM) to make your point.
Just because the crash hasn't hit you yet, doesn't mean it's not coming.
Go buy some more $800,000 houses, and make sure to get back to us with how you're feeling in a few months, OK?
believe me, realtors are asking for price reductions, constantly. You can only educate, then it is up to the seller to price it.
That is why homes sit on the market for months. Do you think it is because realtors aren't advertising it? No. It is because unrealistic sellers price it where it doesn't reflect what the market is bearing so it sits.
The greatest teacher is school of hard knocks.
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Real estate clerks out on the street (the ramen eating ones) may be asking for price reductions, but you have the NAR and The Corrupt and Incompetent David Lereah calling bottom and saying how prices are going to go back up in Spring.
Get it? Big-time disconnect between the soldiers and the general.
Why real estate clerks aren't in open rebellion against the NAR I'll never understand. Realtors should be marching on their office, throwing the bums out on the street, lighting the place afire if they needed to.
It's time for leadership and since realtors have none, they'll sink into the abyss even faster.
Shame.
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