June 21, 2007

From the enemy playbook: Here's how ramen-eating real estate clerks are spinning the housing crash now

1) How dumb do these guys think we are?

2) How dumb are these guys?

Here's a random laugh-out-loud sampling from den of thieves Realty Times. Post more gems here...

If you are looking to buy, there may not be a better time than NOW! Prices are softening due to the current excessive inventory. Buyers are able to negotiate on homes, including price, home warranties, and closing costs in today's market. There are many anxious sellers waiting for an offer.
GREETINGS FROM PHOENIX! Indicators show that Phoenix currently is a neutral market. Real estate is ALWAYS a great investment and time ALWAYS proves me right!
Finally a normal market. Don't believe all of the gloom and doom you here in the media about the housing market. If the home looks good, smells good & is priced good it will sell.
With prices evening out we are now at the bottom of this buyers market. Many homes are priced at or below appraised value. So, if you have been waiting on the sidelines now is the time to make a move.
Naples, Florida is a paradise and will remain as one of the most desirable cities to live in the U.S. Naples has experienced very rapid growth and appreciation. This growth is projected to continue fueling our local Real Estate Market. Real Estate cycles have their ups and downs and if you are thinking about buying- Now is the time.
Well...FINALLY, it looks like the market has bottomed...and the deals for buyers have NEVER been better!
Home sales appear to be bottoming out with lower home prices attracting buyers in many areas of the country
The Las Vegas area is exeriencing significant price drops due to the high inventory levels and the new booming foreclosure market. Market conditions are ripe for the home buyer to get a deal on a home at prices that are cheaper than what you can build a home for today.
With summer, optomisum, growth and renewal are in the air. Don't worry sellers, the market is definitely on the rise
Real Estate market is good in Sacramento area.
Yes, the market is "softening" but not "crashing" - there is no "Bubble" here! Why wait for the market to go even lower?


Adam said...


WTF? If you can't even spell it, you probably shouldn't be claiming to have it.

Anonymous said...

"there is no bubble here" followed by "why wait for the market to go lower"

Yup, stupid

Anonymous said...

I knew Realtwhores were disgusting, but this shows them to be rotten to their black cold cores.

"Everything is fabulous. Our city is the most desirable. Now (insert any date for the past 100 years) is the PERFECT time to buy or sell. London is dreary, San Diego is not." I mean really, aren't they disgusting and gross. Just like a scabby pole dancer with STD's????

Mark Rhymes said...

"The end of the decline of the stock market will probably not be long, only a few more days at most".

Irving Fisher, November 14, 1929

History doesn't repeat itself, but it sure does rhyme

Mark Rhymes

garyk said...

This is the best quote:

"Why wait for the market to go even lower?"

Hmmm, maybe because I'm not a moron.

Anonymous said...

Well what the fuck would you expect them to say? You really are naive expecting anything else.

And there is a grain of truth to what they're saying. A friend of mine who would fit right in on HP recently bought a house in AZ. WHAT?? you say? Is he insane?

Well no. He bought a new house in a subdivision that was selling in the mid $500Ks last year, yet he paid $415K and got a lot of extra shit thrown in. So he got the house for 30% off last year's price if you include the free upgrades.

He knows that price could fall some more but decided at 6% for a 30 year mortgage he was willing to take the chance. He's planning on living there for the long run and a 6% fixed rate made it a good deal in his eyes. His reasoning was valid and knowing the guy as I do, I am sure he was not influenced by anything a relator had to say.

I personally am still waiting since I have enough cash to put down that a 1% or 2% increase in mortgage rates won't affect me all that much. Not everyone can say that. So yes low interest rates that are sure to go higher before they go lower is an incentive for a lot of people and it would not surprise me to see a bump is sales this summer for that very reason.

The Thinker said...

Question: "Why wait for the market to go even lower?"

Answer: Silly Realtor (TM), I will wait for the market to go even lower because then I get to pay less for the exact same house!

Anonymous said...

"There isn't going to be a flood of hedge funds liquidating, but other guys are having problems."

Anonymous said...

I am optomistick that prices will begin to fall in the D.C. Metro area soon; out of control development is still occurring, and existing homes are not selling.


Anonymous said...

You guys are unbelievable!
All those statements are correct!
Some crash!

Anonymous said...

There's also never been a better time to get into a heavily CDO weighted Bears Stearns hedge fund.

Chris G

Anonymous said...

"Don't believe all of the gloom and doom you here in the media about the housing market."

I should believe someone who doesn't know the difference between hear and here. Riiight.

Anon 6:05 mom fellates said...

With summer "optomisum", don't believe all you "here" in the media.
Believe me, now is the time to spend hundreds of thousands.
Trust me...

Anonymous said...

Most realtors I know have not been involved in a transaction in over a year. I don't think they understand whats going on.

Anonymous said...

prices going up = great time to buy

prices going down = great time to buy

this is like asking etrade or ameritrade if it's a good time to execute a stock transaction

Anonymous said...

MSM Filthy Lying Cheerleading Whores At It Again :

Paulson: Housing slump likely near end

U.S. economy to expand in coming months

Clowns. Pure Asswipe Clowns.

Anonymous said...

they're just working a "dutch auction" scenario...

if the stockmarket stagnates, perhaps people will start pulling their money out and start "feeding it into" real estate?

K.W. - Southern Ca. said...

True ... there isn't a bubble ... it already popped.

These people have no choice to lie, their incomes are tied to the
housing chain - a very bad spot to
be in right now.

People always say those who survive in this world need to pick-up new skills.

The question is, in this competative world, what will these people be able to do, and for what wages?

That many people out of work will put an enormous burden on the economy, and this affects us all.

Anonymous said...

To be fair, the Dept. of Treasury stated that the market is at (or near) the bottom, the loss is fully contained, and economic turmoil WILL NOT spread to other areas of the economy.

When you consider that and realize that Mr. Yun has promised a Q3 and Q4 turn around, you'd have to be a damn fool not to get in the game.

I think it's a good time to buy. Since I pull almost 60 thou a year, I'm going to be able to invest in 2 or three houses while you losers miss ut on all the free cash.

Enjoy poverty... the wealth train departs soon.

Anonymous said...

Bear fund collapse raises mortgage questions
Initially it will hurt only company, but effects could eventually hit Main St.

MSNBC News Services
Updated: 5:51 p.m. ET June 20, 2007
NEW YORK - Two Bear Stearns Cos. hedge funds that invested heavily in securities backed by subprime mortgage loans are close to being shut down as a rescue plan is falling apart, The Wall Street Journal Online reported on Wednesday.

Late last week, the fund sold off at least $4 billion of mortgage securities, to help pay for client redemptions and expected margin calls.

That would mean heavy losses for the investment bank and lots of buzz on the New York financial scene. That's bad for Bear Stearns, but for the average person, what's the big deal?

more details: http://www.msnbc.msn.com/id/19337651/

Anonymous said...

From Las Vegas:

Judy Bake
as of 6/7/2007:
** This is a great time to purchased a home in Las Vegas. Sellers are adjusting to our market conditions and prices are adjusting in the buyers favour.

great time to purchased..hey dumbass at least proof read your propaganda and favour...um honey, this ain't Canadia, we don't put a u in favor

Sandy Worthen
as of 4/15/2007:
There's no place for Vegas to go but,up!

BWA HA HA HA!! Hmm Sandy might like to see my neighborhood. I sold my a month before her post for $441K. Two identical houses just down the road are listed for $419K and $409K. Nowhere to go but up huh Sandy?

I almost feel bad for my buyer. He seemed like a nice guy, but he fell for the snake oil of his realtor since he got a great "deal" from me. I listed for $489K originally and look-ey here he got a a bargain at $441K. Good luck selling it for $341K in 2 years. I bought for $189K in 2001. Refied to a 5.45% fixed in 2003. No helocs. My only regret is not selling sooner, oh well still can't complain.

Illegals Everywhere said...

"So, if you have been waiting on the sidelines now is the time to make a move."

If you are smart enough to be on the sideline, you are not dumb enough to buy into REIC Bull$hit..

Frank@NeverColdCall.com said...

They called Phoenix a neutral market?


Anonymous said...

hey wackjobs how's that gold investment doing for everyone? anyone who takes financial advice from this blog needs medical help

Shakster -all up in you said...

Anonymous said...
hey wackjobs how's that gold investment doing for everyone? anyone who takes financial advice from this blog needs medical help
Very well,thanx for asking.Hey,Btw my Land ,and Shak investments are doing great too.The key things to remember were ,Hard work,due dilligence,NO Realtors,and waiting for a lower price before buying.
A reminder to HPers that the Gieco lizard said that renters were COOL.

RiperDurian said...

Blanche please write another editorial about how the media is conspiring against Realtards(TM).

I need a good belly laugh.

Anonymous said...

Actually my gold investment is doing quite well thank you - up 40 percent in the couple of years. Thanks for asking.

Anonymous said...

seattle is at the edge

shakster said...

That flippers in trouble website is getting unreal.20-45% percent drops in prices from 2005-06?
The Trolls ,and certain Anons better hope none of them sell at all,because that sure look like over 10% to me.Oh well,we all know that dropping the asking price doesn't count ,right?

The Thinker said...

Hey Anon who made the comment about gold, gold is at about $650 an ounce. A few years ago it was half that.

I was a gold bear when gold was pushing $700 an ounce, but if it falls much farther, the Thinker may rate gold a "buy."

Anonymous said...

gold was at $640 on Jan 1. It's at $650 now. That is a gain of 1.5%.

Compare that to the dow or s&p and it's not even close.

Stop talking about what gold was 2 years ago. Yes buying gold in 2005 was a good idea. As long as you sold in 2006. Much like buying a house in 2003 was a good idea as long as you sold in 2005.

Holding gold for the 1/2 half of 2007 has been an awful investmnet, much like holding real estate has been an awful investment.

Agent #777 said...

I think it's a good time to buy. Since I pull almost 60 thou a year, I'm going to be able to invest in 2 or three houses while you losers miss ut on all the free cash.

Enjoy poverty... the wealth train departs soon.

June 21, 2007 4:12 PM

Why post ANON - we all know it is you, Jeff from San Diego!
Oh wait, no - he QUIT his job to buy those houses in SW Florida!
How is that working out for him now? Anyone see any recent updates since the ones where his FL comps were going as low as 185k?

Agent #777 said...

Why buy gold when you can buy the mining shares?
Personally I bought Southern Arc at .59, and sold at 1.20. I realized that I might have got out too soon, and bought back a couple weeks ago at 1.40.
I am trying to not be annoyed now that they are stagnating - around 1.90!!

Anonymous said...

Is the world's oldest profession hooker or con man?

Think Eve

Anonymous said...

excellent graph over at albertabubble.blogspot.com
shows exactly whats happening now

Anonymous said...

"Stop talking about what gold was 2 years ago."

Translation: I got owned, time to move the goalposts.

Anonymous said...

Yes, the market is "softening" but not "crashing" - there is no "Bubble" here! Why wait for the market to go even lower?

This is truly the dumbest comment I have ever heard.... Now, Why WOULD I wait so I could buy at a lower price?????? I am the scarecrow from the Wizard of Oz!

Anonymous said...

I remember when silver went to $50 an ounce in 1980. When it "hit bottom" at $24, I started buying. Then at $13, it was an even better deal. I later got an even BETTER deal at $7! What good deals I had made buying at the bottom all the way!! I sat on $4 - $5 an ounce silver for 20+ years. All the wishful thinking people kept calling the "bottom" all the way along, "subconsciously" (in denial) looking to ways to justify their opinion - crafted by fear.

joe said...

I'd rather own gold right now than real estate. I'd rather buy gold right now than condos in Miami, Vegas or Phoenix. You don't have to pay property taxes and interest on gold. There are no maintenance or HOA fees with gold. There's no 4-6 % selling fee with gold. There's no $10K closing costs with gold. RE is probably the worst investment for the masses. The fees, expenses and time associated with it are the highest.

Buying a moderately priced home to live in for 10 years is fine. Buying a home to flip is stupid. It's no different from gambling on the NASDAQ bubble. You could get rich if you buy/sell in time or you could lose it all. It's not an investment, it's a gamble. There are a few pros out there who buy cashflow positive RE, but those are few and far in between. The rest of the people are lucky to have dumped their overpriced home on a moron, or they're the moron who bought that overpriced home.

Adam said...

A tale of two realtors in the same town (Quartz Hill, CA).

Realtor #1:


Due to the proliferation of highly-leveraged loans in the Antelope Valley, there are numerous bank-owned properties competing with the resale market, as well as properties offered subject to bank approval of a short payoff.

Inventory is expanding at an alarming rate of 1500-1800 homes per month, with sales running at an average of 300-500 homes per month.

It is critical, in my opinion, to price homes aggressively to avoid the loss of existing equity during this down market.

I teach market analysis to 175 agents in our Keller Williams Realty office

Realtor #2:


Chicken Little Says the Sky is Falling

Chicken Little in this equation is the media and the sky is the real estate market. The media will have you believe we are in the middle of a real estate doomsday. To some extent it is this exact press that is perpetuating what dowfall we are seeing.

It is true that foreclosures are on the rise. It is true that all of the creative financing that has been happening over the past few years including 100% Financed Interest Only and/or Adjustable Rate Mortgages are mostly to blame for this sudden rise. However, we are also seeing no slowdown in new construction and this is both a cause for concern and a cause for hope. Builders will not continue to build if there is no money to be made, which tells us there are still plenty of buyers out there ready, willing and able to buy.

This is still a very desirable area to live with an ever increasing population.

From what we have seen statistically since the turn of the market late last year seems to be a leveling off. The resale homes will need to come down in price and match the new homes. Once this happens, our market will not be a down market, it is in a normal real estate market. This may be shocking as we haven't been in a "normal" market in quite a few years and causing us to mistake it for something it is not.

There is no need to make any real estate decision out of panic. If you need to sell, a real estate professional can help you make sure that you get the most for your property as possible. If you need to buy, you are going to have plenty of choices and the luxury of time to think about your decision (which was lacking in the previous market).

Much of the creative fiancing has been discontinued which will only stabilize our market as we move into the next few years. This market can be good for everyone, just ask your real estate professional.

So which one seems more credible to you: the one who says you need to price aggressively to get out of the market, or the agent prattling on about Chicken Little? BTW, love this part:

However, we are also seeing no slowdown in new construction and this is both a cause for concern and a cause for hope. Builders will not continue to build if there is no money to be made, which tells us there are still plenty of buyers out there ready, willing and able to buy.

WTF? How can overbuilding be both a sign of hope AND concern? Uh, builders make money by BUILDING. What are they SUPPOSED to do? Crochet doilies instead?

I'll pick #1, who seems like he's not trying to bull-shit consumers.

Anonymous said...


I thought it appropriate that one of the blogs is called "Housing Armageddon"...