May 07, 2008

Blanche Evans, Senior Editor at the laughable and discredited Realty Times, shows why people will never trust people in the real estate business again


Here's Blanche, poor, poor Blanche, finding herself in a massive gaping historic obvious hole, and digging like a crazed fox.

Come on Blanche, "blame the media" or "pretend there is no housing crash" is sooooooooo 2007. Ya gotta come up with a new schtick babe. You're embarrassing yourself. Maybe do a Lereah, and come clean. More lies won't make the bad truth go away hon.

Her great advice HP'ers? (after being so so so so wrong these past couple of years) "
Stop listening to the media. Go buy a home." To which HP says "Never trust Blanche Evans, Realty Times or any realtor on commission ever again."

Why Buy Now? Media Is Wrong About Housing Slump

Why buy a house now? You've been getting bad information. Here's why.

The financial press is worried that they might have gone too far -- paralyzing the nation into recession by piling on housing. So they're finally beginning to question the indexes where they get their data, and whether the news is really as bad as it seems. Slowly but surely, headlines are changing from Don't Buy A Home Now to Is It Time To Buy?

Stop listening to the media. Go buy a home.

44 comments:

Mark in San Diego said...

Here is a contrarian view - Go Buy a Home!. . .then one year from now when it is worth 10% less than what you paid - DEFAULT! . . .add to the inventory of foreclosed homes and make the problem worse for 10 more years. . .BTW- I am back in SD - having dinner Saturday with a guy and his wife who bought a condo 6 months ago because "we felt the market had reached bottom.". . .well, it was developed by . . .drum roll. . .DR Horton. . .the place has already lost 10% of value, and DRHorton is renting some unsold units for cash flow, and the HOA is raising rates to cover expenses. . .they are sorry they ever signed the papers. . .

Anonymous said...

Blanche is a freakin' IDIOT!!

If Lereah can come clean, anyone can!! Blanche Darling--EDUCATE yourself and find another way to make a living other than leeching off of a naive public.

Your motives are SO TRANSPARENT!!

Anonymous said...

And to top it off - she's unattractive as far as RE agents go -
dang - how'd she ever make any $$ in RE??

RiperDurian said...

I knew the old battle axe wouldn't let me down.

Thanks Blanche!

"Stop listening to the media. Go buy a home."

Translation:

"Wahhh, wahhhh, Realtors want commish! Realtors want commish! Wahhh, wahhhhhh."

Anonymous said...

Everyone send her a nice note

blanche@realtytimes.com

fish said...

Who the hell names their kid Blanche anymore? I mean she's probably my age and I was born in the mid 60's.

Blanche???

HP Idiots don't get it said...

"Here is a contrarian view - Go Buy a Home!. . .then one year from now when it is worth 10% less than what you paid - DEFAULT! . . .add to the inventory of foreclosed homes and make the problem worse for 10 more years. . .BTW- I am back in SD - having dinner Saturday with a guy and his wife who bought a condo 6 months ago because "we felt the market had reached bottom.". . .well, it was developed by . . .drum roll. . .DR Horton. . .the place has already lost 10% of value, and DRHorton is renting some unsold units for cash flow, and the HOA is raising rates to cover expenses. . .they are sorry they ever signed the papers. . ."

Gee, that is a contrarian view.... You know, I would love to hear someone have a REAL contrarian view instead of pandering to the Bubble Bloggers. Here is a contrarian view - Buy a home with a good loan, with cash, then wait 10 years, then make money. All you idiots think that if you purchase now, then wait 6 mons and lose money on paper that you are catching a falling knife. Go ahead idiots - time the market. Mr. San Diego apparently does not know the history of his own state. What was the price of a house in SD in 1989 jackass? Now what is the price of that same house now? You would have made well over $200,000 just by doing nothing but holding. God, I just keep reading all you people bashing housing because you might "lose money" in 6 months or a year. If you want to make money in that short of a time frame, buy a stock, if you want to make money in RE, buy low (now) when NOONE wants anything to do with it, then HOLD for longer than all you idiots can stomach, and then sell when EVERYONE again wants in. You guys compare housing to a tech stock - yea right. How many people live in a community of tech stocks? How many people raise kids in a tech stock? Housing ALWAYS has value, but it is not a flip, or a meal ticket, it is an INVESTMENT - long term period. But it WILL be profitable if properly incubated and treated like a business. I won't even go in to how much money I have made in RE over the years, because you idiots will just pick it apart anyway, but I can sleep very nicely at night, and frnakly don't care what the government or you morons do here, because in 10 years I WILL WIN.

Anonymous said...

Wow. Looks like Blanche overdosed on the Kool-Aid.

She actually believes the unemployment numbers?!?! The true unemployment numbers are more likely between 7-8% EXCLUDING the illegals who have no work since the bubble has burst.

Then there's the case of the underemployed.

My guess is that she also believe inflation to be at 2-3%. That number is more like 10-12% these days.

Interest rates are at historical lows, however home prices are at historical highs.

This country is heading into some very troubling times but we will all survive.

Agent #777 said...

From the linked article:

"Plummer also lampooned the AP for writing that "'despite that index's limited seven-year history, home prices 'plunged by a record' percentage and 'at their fastest rate ever.'"

He also notes, "The glaring discrepancy in this case is that 17 of the 20 metro areas posted record annual declines, and yet 78 percent of the 330 metropolitan regions that the NAR tracks reported price increases ... ."


The glaring discrepancy in the noted discrepancy is what the VOLUME of sales looks like, because a YOY comparison would likely show sales transactions are down in even a higher percentage of markets than where prices are up. Prices can remain sticky for a while, but I assume next year the prices will be lower in a large majority of metro areas.

We are moving to Tennessee where hotpads.com is showing a very low level foreclosure percentage, but even there prices seemed to me to be losing buoyancy compared to what I saw last summer.

We will be renting a 5 year old house, 2300+ SF 4/2.5 on a cul-de-sac, with "pergraniteel" (hattip IrvineRenter), a whirlpool tub and double tray ceiling in the master, in the popular school district, all for 1600/month! As long as we have that, I can keep the wife at bay about buying again forever, if needed!! BWAHAHAHA!!

Anonymous said...

amazing. has she ever considered it was the media hyping home buying that is partially to blame for the over inflated mess we are in right now?

Anonymous said...

"The financial press is worried that they might have gone too far...."

What's her source for this claim? WHERE has the financial press expressed chagrin over possibly going too far?

That article is NONSENSE.

Anonymous said...

I know one of their writers. He is very arrogant

Anonymous said...

oh so the media is the one who caused the housing crash

you learn something new every day

Anonymous said...

So how is saying that Robert Shiller has good reason to be negative because it benefits him financially any different from what Blanche is doing for the little ramen munchers?

Anonymous said...

It's funny how these loosers didn't say a word when the media was propping up housing during the boom. Did they say anything about the media having it wrong? No, they came out and propped it up a little more.

What a bunch of freaking idiots.

Dny

mairca izda debol said...

http://tinyurl.com/6892wn


The Las Vegas housing-market crash represents a turnaround since 2003, when the local economy and real estate were booming.

``If you had anything on the ball, you could make it happen in Vegas,'' said real estate agent Donna Marie Gold, 62, who built a $4.5 million fortune buying and selling properties over six years.

After failing to complete a single sale last year, Gold said she fell $22,000 short each month on payments needed to maintain 14 properties. Now two to four months behind on some mortgage payments, she's lost access to a $250,000 Wells Fargo & Co. equity credit line.

`New York Minute'

``The whole thing was upside down in a New York minute,'' Gold said. ``There needs to be some forgiveness in this climate with regards to credit and rebuilding one's credit.''

Anonymous said...

Like clockwork, the crooks on Wall Street pumped the market for a few days just to fleece the stupid sheep who was cheering the fake rally like a little girl, as usual.

Aren't you sheep tired of being so stupid and manipulated by the crooks on Wall Street? Don't you ever learn? Prepare to jump on the fake rallies next week because the crooks aren't done with your wallet yet, stupid sheeple.

DOW = -1.59%; YTD = -3.40%
NASDAQ = -1.80%; YTD = -8.06%
S&P = -1.81%; YTD = -5.16%

Don't forget to add huge inflation to that.

Oh, and the best is coming to blow right on Obama's face, once Bush/Cheney leave the office. Or did you really think that the GOP/neocons would make easier for Obama and the majority in Congress? Hahahaha...stupid sheeple.

Enjoy!

Observer said...

Just Buy A Freaking House Already!!!!

Thinking Is For Losers!!!!

Anonymous said...

@ mark in san diego

Why hang out with such stupid people? Please, don't waste your time with morons like that or soon enough you'll be voting for Obama, following him like a zombie. Of course, unless you had a bad case of schedenfreude, then you're forgiven.

Anonymous said...

SUZANNE IS DEAD.

You killed her.

Now start selling the only @$$-et that you have to make a few bucks.

And Blanche dear you better hurry because from the looks of your pic thats starting to sag as well!!

michael said...

"if you want to make money in RE, buy low (now) when NOONE wants anything to do with it."

your plan...buy now and make money in 10 years.

my plan...buy one or two years from now and make alot more money than you in nine or eight years.

Anonymous said...

After nearly five hours, the Vallejo City Council voted unanimously late Tuesday night to file Chapter 9 bankruptcy protection.

The city faces a $16 million deficit in the 2008-2009 budget starting July 1 and unsuccessfully negotiated with its police, firefighter and electrical workers unions for contract concessions through 2012. Public safety salaries comprise 74 percent of the city's general fund budget.

common sense said...

Wow, that Blanche is a handsome fellow.

Wait ... that's a broad? Yikes.

ProfessorMarbles said...

"All you idiots think that if you purchase now, then wait 6 mons and lose money on paper that you are catching a falling knife. Go ahead idiots - time the market."

Exactly.

I mean, what are you gonna do, watch prices fall 10% per year for 3 more years and then in the fourth year the price goes up by 2% and you scramble to get in at 1% higher than that?

You'd look like such a f*cking idiot!

What we have to teach American consumers is that there is never a rational excuse for not buying something. *Anything*

Arizona Jake said...

``If you had anything on the ball, you could make it happen in Vegas,'' said real estate agent Donna Marie Gold, 62, who built a $4.5 million fortune buying and selling properties over six years.

After failing to complete a single sale last year, Gold said she fell $22,000 short each month on payments needed to maintain 14 properties.

Interesting choice of words "built a $4.5 million fortune". This tells me her wealth was on paper only and not actual money she made. In other words, she was leveraged up to her ass and now is running a $22,000 a month deficit on 14 homes that she owes more on than what they're worth. Sounds like Ol Donna is the one who doesn't have anything on the ball.

Reality said...

"hp idiots don't get it" said:

"What was the price of a house in SD in 1989 jackass? Now what is the price of that same house now? You would have made well over $200,000 just by doing nothing but holding."

Unless it's a rental property with positive cash flow, holding a house has very high cost. If you bought a house for $500k in SD in 1989, the mortgage interest rate would have been around 9-10%, property tax would be 1.5% each year, plus another 1% or so each year for maintenance. Over 20 years, that would have worked out be over a million dollars sunk into the carry cost. And you call that $200k appreciation a profit?? Yes, virginia, if you buy a house with little down, and take out a 30yr mortgage, you will have paid the house 3-4 times by the time you are done with the mortgage.

Now you see why historical average house prices are usually 100x montly rental income. At bottom of real estate cycles, houses are sold for equivalent of 5years rent because of high interest rate and relatively high real per centage of property tax.

TimmyTinkle said...

No SHYTTT--

Blanche is really 60-year old cross dresser, Earl Lopez. Earl moonlights as a REALTWHORE, but is really just an illegal alien, from Juarez, Mexico, that works in a meat processing plant by day

VIVA LA CASA CRISIS!!!

RabidRealtwhores said...

Damn!

That beeatch makes Annette Benning (The Realtwhore in American Beauty)--look like a Goddess!!

Thank you for reminding us what Realtwhores are truly all about!!

They would FU#$K Tree Stumps for 6%!!

Anonymous said...

Oh come on everyone!! Give Blanche a break!! She has a fierce crack habit to support!!

Buy a house already!!

Jack Sprat said...

It will never get as bad as people say,,
and it will never get as good as people say. It just never happens.
This housing bubble will bring a whole new breed of realtor and banker into the market. They'll be conservative and will last for a generation or two. The crap that needs to get washed out,,,will be washed out - their reputations will follow them - this includes the flippers, the debt ridden buyers,,the morons,,,the whole bunch will be gone. Real Estate & healthy normal debt, will come back to normal. It's good that this is all happening - the old nature rules. There will never be a dotcom bubble, or a real estate bubble again for at least 50 years.

Anonymous said...

The thing that amazes me is that no one, including the MSM will explain the root cause of why houses are not selling. THE PRICES ARE TOO GOD DAMN HIGH! Chop 50% off the peak numbers, and that inventory would disappear in a very short amount of time. If the government & Fed would just let the free market solve this problem, a normal balance between supply and demand would return. Of course, that would mean a transfer of wealth between similar classes of American citizens instead of a transfer of wealth from the the lower and middle class to the upper class. It would also remove the mindset of homes as an investment instead of a place to live, like they should be. This whole thing just exposes how lopsided our whole financial structure is with the Fed and all of these banks. Hopefully their greed and arrogance thinking that they can control this will cause so much pain and destruction, that not one politician who is in office now will be there 4 years from now. And if we are really lucky, the Fed will be abolished when this whole fiasco finally plays out. I do not want to live through another Depression, but it seems like our best chance of restoring this country to the pre-Fed powerhouse that it once was, is to have so much pain that the average American wakes up and looks to lynch every member of Congress. Maybe that would cause Congress to wake up and point fingers at the Fed, resulting in no more Fed. Thank God.

Out at the peak said...

"hp idiots don't get it": Go ahead and buy half way/one third way down the drop. None of us are stopping you.

There have been times in the past where 10 years has not guaranteed a positive return. I had read stories in the past where people bought in 1988 in San Diego and didn't break even until 2000!

What if you have to relocate for a job during that time? What about a force sale for a divorce?

I've made 90% of my wealth from past real estate, but I'm not going to put my money back into it until it makes sense to do so. This means the Alt-A/Option ARM crisis has to flush out. We are at the tail end of the subprime crisis, but Alt-A/Option ARM has barely started. We might not see anything bad until 2010. In the meantime, you will probably see a bounce in 2009.

I am going to start to look for deals in January 2012. This date may change if the Fed/govt does something really drastic to speed up the process.

Paul E. Math said...

I think things have really changed. Reading that article didn't make me angry the way it would have even just a year ago. I think we have turned a corner and I'll tell you why.

Back when smug, smarmy little David Liareah was chief propagandist of the NAR, the lies being told by him and many other mainstream thinkers were actually, to the average person, compelling. Black swan events like the real estate crash do seem somewhat far-fetched before they occur because they happen so rarely - you can see how the average person would be initially resistent and somewhat irrational about the idea of a housing crash.

But now, now articles like this one are transparent even to an idiot. Blanche Evans' obfuscation is so obvious that it has become harmless.

Now that the crash is happening right before our eyes the article just made me embarrassed and sad for this tired and desperate old half-wit pig.

Anonymous said...

First Decline In Decades!

Lying. Sack. O'. Crap.

keith said...

What's sad is that I don't think Blanche knows how stupid she's being, just like I truly don't think most realtors understand Econ 101 either

Notice in her "attack the media" and "personally attack Shiller" argument she doesn't mention

* price to rent
* price to income
* rental yield
* soaring vacancies and oversupply
* historical mean
* lending fraud
* credit collapse

I could go on and on

I think her post shows that there are lots and lots of people out there in America who position themselves as "experts" or "real estate professionals" (in order to earn a commission) who have no business offering financial advice.

If doctors have to be licensed, regulated and trained, shouldn't realtors be too?

Oh, wait, my bad. realtors should simply cease to exist.

Anonymous said...

"I think her post shows that there are lots and lots of people out there in America who position themselves as "experts" or "real estate professionals" (in order to earn a commission) who have no business offering financial advice."

Oh, you mean like joke, Washington Post reporter "Kenneth Harney," that gets prominent mention on Blanche's realty pig site...

http://realtytimes.com/rtpages/kennethharney.htm

My favorite story:

January 6, 2007

"In the main, however, the housing market appears to have weathered the correction phase of the cycle without the blood running in the streets that some bubble-bust bears had forecast. Median prices of resale houses have fallen 3.6 percent nationally year to year, and anecdotal reports of 10 percent to 20 percent asking-price reductions in formerly hyperinflated markets are commonplace. But that's what corrections are all about, as opposed to outright busts."

http://www.washingtonpost.com/wp-dyn/content/article/2007/01/05/AR2007010500839.html

DOPES said...

Blanching

Pronunciation: (bland-$$$-ching)

1. A realtywhore term that describes the process of selling homes for 6%, wherein the fool buyer, usually a first timer, is plunged into a mcmansion, removed after a brief, timed interval of inability to make the payments, and finally plunged into foreclosure or bankruptcy to halt the bleeding process.

2. Vomiting, puking, or heaving violently from reading NAR propaganda, watching RE/MAX buy now commercials, or sleeping with chicks such as Suzanne.

Common use in sentences: "I think I just blanched a little in my mouth from that commercial."

DOPES!!!

keyser soze said...

The only Blanche I've ever liked was DuBois.

Ugly enough to stop a watch said...

Keith,

I'll need your address to forward the bill after I get my Rolex repaired.

That PIG in the picture seemed to have stopped my officially certified swiss chronometer dead in its tracks.

My jeweller said he never saw anything like it... He said it would take an atomic blast to damage the movement like this...

Jeezus that person is UUUUGLYYY.

chslaxcoach said...

The media did cause the crash ... in as much as the caused the bubble. You can't have a good crash without the preceding bubble. The media did it's job.

Much like the government. They screw things up, then people come crying for the government for help.

"The federal government knows how to break your legs, hand you a crutch, and then say, 'If it weren't for the government, you wouldn't be able to walk." - Harry Browne

Anonymous said...

That is a ugly dude - oh wait - OMG!


STOP IT FROM REPRODUCING!!

David said...

Someone should start an Evans Blanche Watch?

That Realtor hack!

Anonymous said...

The only Blanche I've ever liked was DuBois.

The only Blanche I've ever liked was Diners.

Anonymous said...

OMG Please stop vomiting diarrehea. Everything you said to debunk the best objective indicators we have to measure this crisis is what these indicators implicate you've been doing the last decade just to get paid for doing nothing but take an oversized piece of the transaction.

Start selling your @$$ you ugly realtwhore, its all you got and from the looks of that pic its not worth much and spoiling fast, so you better hurry up and get a marketing plan together and not over price it, or it will never sell.