May 26, 2008

And then the realtors, after two years of not eating, finally turned on their lying and deceptive National Association of REALTORS masters

The hungry army of 1.2 million ramen eating realtors should march on the NAR offices in Chicago and demand an end to Lawrence Yun's happy talk and spin, the NAR's non-stop "we've hit bottom" and "prices aren't falling" spew of lies and deception.


Because this line of BS is actually hurting the 6%'ers, a HELL OF A LOT more than helping. Besides destroying their dwindling base of dues-payers' credibility (what very little of that there's left), the monkeys at the NAR are also confusing would-be sellers into not pricing their debt-traps at saleable prices, and transactions (that aren't REO's) dry up.

No transactions = no commissions = no NAR dues = more ramen

As we've said for years, the NAR should be out there saying "prices are plummeting and will fall even more. If you're a seller, lower your price, lower it big-time, and get out. If you're a buyer, get even more aggressive with your low-ball offers"

Instead, the NAR happy-talk is just freezing the market, as sellers point to the NAR spin as a reason to NOT lower prices, and buyers don't buy, because prices are still way to high.

Meanwhile, the realtors don't eat. And they're getting pissed.

Here's the latest, thanks to the
NJ Real Estate Report, who's still kicking HP's ass in that REIC contest btw...

Real estate agents debate local statistics

The latest positive numbers for home sales and prices have divided real estate agents, ordinarily a group uniformly upbeat about the housing market.
Some doubt the numbers, even though they're from their own association, and say it's making it tougher to get home sellers to reduce their prices to more realistic levels.

In particular, Dawe said the figures from the National Association of Realtors, and other information gathered from state and local Realtor groups, seemed to disagree with what the Multiple Listing Service showed.

"As we talk to our sellers about the declining market we are actually facing and the fact that they have to be aggressive in pricing their homes if they expect to find a buyer, the statistics in your article are baffling and impact our credibility with customers," Dawe said.

To Eileen Raynes, an agent with Rosenthal Realty in Margate, the higher sales and price figures were a very welcome break from media coverage she described as "standing on a corner screaming 'Get your dead fish.'"

Bruce E. Breunig Jr., broker at Century 21 Alliance in Margate, admitted that "we Realtors remain part of the problem. We blame the media for fueling the downturn and try to counterbalance it with our own positive spin."


Anonymous said...

Are the absurd gas prices a deterrent to knife-catchers who need to drive a lot in order to visit all open houses? Are gas prices a factor that could postpone house hunting even further? After all, that used to be America's hobby, but with these high gas prices...

Discuss amongst yourselves...I feel a little preeclamptic.

Anonymous said...

Well, once again, NASA just landed successfully the Phoenix Mars Lander probe. Hey Europeans, do you want us to look around to see if we can find your POS Beagle 2 probe you guys lost before even getting close to Mars? bwahahahaha Meanwhile, the almighty China is supplying our 7-11s with keychains and plastic lighters.


Anonymous said...

Why is it that millions of Americans stuff their faces with hot dogs and beer on the holiday, but they can't go to Costco to buy a damn bag of rice for $6 to send to Myanmar?

To see those thousands of kids waiting for some food on the side of the road, it's just heartbreaking:

Get your fat arse to Costco this week to buy those huge bags of rice for $6 ea, especially you, elitist freaks from the cult of the Messiah.

Anonymous said...

Loudoun County Virginia Realtors® takes a rather optimistic view of the current market conditions.

The article is titled Loudoun County Real Estate Market Showing Continued Signs Of Strengthening

And when they explain HOW it is strengthening, it is the REDUCTION OF SHORT SELLS:

3) The percentage of total listings that are foreclosure/bank-owned and short-sale properties has stabilized.

WOW! Compelling reason to buy NOW! Can't wait until prices fall further, more people walk away, and there are even more short sales. Buy NOW! BUY! BUY! BUY!

Anonymous said...

Ladies & gentlemen, welcome to Peak Oil. They said that Mexico was the first to go, and we told you to get a bunker. Enjoy a Mad Max experience coming near you. Meanwhile, Democrats are crying to oil executives to fake they care or know how to solve this energy crisis. What's Obama plan? None, of course. Oh I get it, we all should chant with him "change" and "si se puede", that's the plan. Got it; I feel much better now.

Bloomberg -- Mexico's crude oil production fell 13 percent to 2.767 million barrels a day in April, Mexico City-based Pemex, as the company is known, said on its Web site. Output a year earlier was 3.182 million barrels a day. The decline was the largest since October 1995, when output fell 29 percent.

Output at Cantarell, Pemex's biggest field, fell 33 percent to 1.07 million barrels a day, according to the Energy Ministry. That was the lowest output since March 1996 at the field, which peaked at 2.192 million barrels a day in December 2003 and once accounted for about 60 percent of the company's output.

Exports fell 14 percent to 1.439 million barrels a day. Pemex has said it will cut exports as output falls so that it can refine more of its own oil.

Anonymous said...

Do you see all the signs around you?

Perhaps governments know something we don't.

Anonymous said...

Back to check out stand 6!

Anonymous said...

Oh yeah, the EU (aka Next Shoe To Drop) is swimming in money:

(Bloomberg) -- U.K. home values fell for an eighth month in May and will probably drop further, Hometrack Ltd. said.

The average cost of a residential property in England and Wales slipped 0.5 percent to 172,200 pounds ($341,000), the London-based research company said today in a statement. Prices fell 1.9 percent from a year earlier, the biggest decline since November 2005.

``The `buyers' strike' continues,'' said Richard Donnell, director of research at Hometrack, in a statement. ``Pricing looks set to remain under downward pressure over the coming months.''

Bank of England Governor Mervyn King predicted this month that property values are ``likely to fall further'' and said there is a risk that the U.K. economy may contract. The construction industry dragged down economic growth to the slowest pace since 2005 in the first quarter and homebuilders are cutting tens of thousands of jobs.

Anonymous said...

"standing on a corner screaming 'Get your dead fish"

Best quote ever

Anonymous said...

I can't believe this. I am sitting in Arizona bed with my girlfriend. And I say to her, "If you want to piss your mom off (a realtor), you should send her a link to"

Five seconds later, I read the Eileen Reynes "Dead Fish" quote.

Eileen Reynes is my my girlfriend's mother!

I cannot believe it.

Anonymous said...

They think it's bad now? Wait until Lord Humongous rolls down their quiet suburban street.

Anonymous said...

"To see those thousands of kids waiting for some food on the side of the road, it's just heartbreaking:"

I love to see these little rats and their sorry eyes. I picture myself hungry depending on some communist chink for a handout for survival. Guess what, I'd be dead because they don't even give a shit about their own people, never mind another nations people in trouble.

F*ck China AND Burma. DIE U PIGS.

bearmaster said...

I am starting to wonder if sale statistics are being manipulated in Redondo Beach. There is a new mega senior citizen condo complex here (the ticky-tacky box type), and a number of units have recently been sold, but have so far not shown up in any sale stats.

These are tiny little cr*p boxes, and their sales, if aggregated to the remaining sales for RB, would pull the median WAY down.

The only reason I know about the sales is because I was snooping around in Zip Realty and happened to click on "Sold Homes" while researching a listed property in the general neighborhood of these s**tboxes, and there they were.

This senior citizen complex, BTW, is right next to Ruxton Pacific.

Anonymous said...

I am a REALTOR in Memphis, TN and avid HP reader. This is a great post and I will link it on my blog. The Real Estate leaders here still are touting our great market (even though it is down 17% from last year), and following the Yun mantra, with the new "all real estate is local" twist. Believe it or not, some buyers and sellers really want to hear the truth.... while our local association pushes

Anonymous said...

from 7:53

You absolute Moron!

What the hell am I suppose to do?

Buy a sack of rice, put a priority stamp on it , and then drop it in the mail????

Where am I suppose to mail it to,

Nyguen Ding, Shack #4 Ching bang Ave., Myanmar?

It doesn't work that way Nimrod!

Even if you could, the warlords would confiscate it!


Anonymous said...

The aide that is sent by the U.S. to any and all nations that request it is staggering !
Aide to others is More and Faster than it was after Katrina !!!

Any natural disaster that happens, the first thing those (any) ungrateful Bastards do is Cry for American Aide, in the form of MONEY, food, medical aide and medical supplies, clean water, generators, fuel, various other items!


Then when we've done our job, we are pissed on and told to leave, taking nothing with us!

And when disaster strikes... we do it all over again!

Because we are The Greatest Nation,
Blessed by God Almighty!!


Anonymous said...

Its the 6% commission. Lower selling prices means lower commission. They talk about sellers being in denial on the dropping value of their homes, but I think many realtors are in denial about their shrinking 6% commission. Like the sellers they can't accept the fact that prices and therefore their commissions have went down and will continue to go down for sometime to come.

Anonymous said...

Here at the Jersey Shore the realtors seem to be in a particularly bad state of denial. Most will insist prices will not fall because we are "special". Nevermind the fact that prices are already down 10-20% and nothing is selling.

Anonymous said...

The NAR just keeps pounding away. Look at their latest propaganda release late last week. Yun and company are zooming down the road to irrelevancy.

RE agents stand to loose a great deal of their tenuous credibility if this keeps up.

Anonymous said...

Greg Swann Rocks!!!!!!!

BloodhoundRealty is an exceptional-service residential real estate brokerage in Metropolitan Phoenix, Arizona!!!

Paid for by the propaganda dept. of Bloodhound reality and the forces of darkness. I'm greg swann and I approve this message.

Anonymous said...

See international friends, that's what America is about. On the same day that we land the Phoenix Mars Lander probe on Mars, Robbie Knievel jumps over 24 trucks with a motorcycle:

Where else do you see this stuff but here? Perhaps Obama will tell Robbie Knievel that he should ride less his motorcycle, otherwise countries might complain about it. We need to ask Obama's permission to do stuff in America now, like using our thermostat. Folks, that's communism trying to take over.

Anonymous said...

You're dead on Keith.

I'm a broker. I think I'm the only one in my local association who thinks prices, which only recently started falling here, are going to go through the floor.

My colleagues distribute rosy economic predictions from NAR and other MSM economists that predict housing prices will start rising again the end of the year.

What a F'ing joke. They tell their buyers that prices are going to start going up any day now, so now is the time to buy. It makes me sick! Watch what happens when their knife-catching clients sue them for false inducement. You know, errors and omission insurance specifically excludes promises of future appreciation from coverage. So when these agents get sued for their pressure tactics, they will be held personally responsible.

When a potential buyer asks me if now is a good time to buy, my reply is usually "if you plan on staying here a very long time." That, and most of the rentals are shit around here. That will change with all of the foreclosures coming our way.

I recently opened my own brokerage, focusing on fee for service. As a broker, I think 6% is a rip off and I'm out to help destroy the traditional compensation model.

NAR makes me sick. If membership wasn't a requirement to be in the MLS, I'd boycott the bastards. Talk about a monopoly . . .

Anonymous said...

tail = monkey
no tail = ape

Either describe realtors as apes or better yet use a baboon (monkey) pic instead of a Chimp (ape) pic.

Anonymous said...

Where am I suppose to mail it to,

Nyguen Ding, Shack #4 Ching bang Ave., Myanmar?

It doesn't work that way Nimrod!

Even if you could, the warlords would confiscate it!

Local churches are collecting. You know, there's that thing called internets and the google. I bet you still want the UPS to pick if up for you, huh? Lazy and selfish bastard.

Anonymous said...

Would someone put Lawrence Yun out of his misery.

Anonymous said...

end of the 6%er...i think this is pretty

Real estate agents earned $93 billion in commissions in 2006

In a report last year, the Justice Department and Federal Trade Commission found limits on discount brokers' access to Web listings of properties for sale prevented consumers from getting the cost savings and other benefits online competition has brought other industries.

Anonymous said...


UNICEF is now collecting!

Give it to them

Now there's a honest bunch?!?!

As if!


Anonymous said...

from 11:47

Hey jackass,

Even churches and other organizations have to go through governmental red tape and warlords ya know!

Let your tax dollars feed them,

Thats what America does!

Anonymous said...

Aide is currently not being accepted by open door, but only through smuggled efforts in Burma!