So if the president of the National Association of Realtors doesn’t even listen to his own agent when it comes to pricing his house, why should any of you listen to any of us? Hot Property comments, Realty Check goes further.
But I’m sure he’ll sell it to somebody soon, because, let’s not forget that one out of 16 households in America will be buying a house this year. And the credit situation is improving.
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7 comments
Diane,
Interesting post - In a recent post a few weeks back you indicated you thought we were nearing the bottom in terms of pricing, but would see slow inventory for some time to come. Given all of this news, your post sounds like you are battening down the hatches for a continued slowdown, and perhaps devaluation as well - is this true? Has your take on the market changed at all in these past weeks? Maybe I’m reading into your posts, but it seems like your outlook has shifted.
I realize that the bulk of foreclosures in Nevada are located in the LV area, but looking back a bit, when did the new home sales zeanith really hit in Reno? Was it a year or so later than LV’s?
Most ARM’s reset at 3 years. Could it be that we just came a little later to the game?
Diane,
It sounds like human nature. The “I know more than you” senario that we all have come across when trying to represent sellers. It is time for the agent to fire a client. It also reminds me of the old saying about the attorney who represents himself, has an idiot for a client.
Now Dave [who states “It…reminds me of the old saying about the attorney who represents himself, has an idiot for a client”],
it’s a FOOL for a client. There’s a difference between a fool and an idiot.
thanks for the smile Diane. Maybe he’s practicing the “patience technique”. : )
RE: “let’s not forget that one out of 16 households in America will be buying a house this year.” [NAR link]
Oh, thank goodness. The NAR has looked at the data and concluded that … SURPRISE! … the worst is behind us and the signs point to improvement!
I have to ask: Do realtors and agents LOL (like the rest of us do) when they read these careful, rigorously scientific monthly “analyses” by the NAR, which always seem to conclude that we’ve hit a bottom and the market is turning upward?
Honestly, it might be time to start drug testing Yun.
Hey MikeZ, don’t go too hard on Diane. Lawrence Yun and the NAR are all she’s got. There are no other even half-way marginally reputable “information” sources that suggest anything other than that the bottom is nowhere in sight until at least some time in 2009. Many are now saying 2010. Or beyond.
Realtors have to keep up the illusion that things aren’t so bad. Or, if they can’t do that, the illusion that things will be getting better soon. Larry Yun, the successor in interest to David Lereah, as the Most Disingenous Shill in America, is the only person around saying anything to support the illusion.
I mean, think how long it’s been since Diane has posted one of her broker’s graphs telling us all the market has bottomed.