Leslie Appleton-Young is at it again with her marvelously funny quotes. Except now she is kissing butt in Marin...and the Marin IJ is, of course, all over it:"It's God's country, what can I say," Leslie Appleton-Young, chief economist for the California Association of Realtors, told an audience of agents Tuesday in Terra Linda. "When is the 30 percent decline in Marin County's market going to happen? Not in my lifetime."Have at it. Let this post serve as a discussion post as I am busy traveling for work related reasons and cannot do much on this blog now. Besides, you already know what I think.
To get you started, here are some things said about this article over at Ben's blog:
Comment by TRichI'm keeping this link for future use so we can rub it in her face when the time comes. Oh, but wait, she'll be dead.
2007-04-11 15:32:44
I was thinking the same thing, LAY is going to have to either die by her own hand, someone else’s hand, or come down with a disease that kills her within about three years for her- as usual- well thought-out and reasoned predictions.
BTW, shouldn’t conflict of interest and bad predictions in the past alert journalists as to the accuracy of a source?* * *Comment by LostAngels
2007-04-11 14:56:43
When is LAY just going to shut up finally. She has been a joke for months now. Every time she opens her pie hole I want to puke.
thank god for the internet and google. LAY’s comments will be cached forever so everyone can see what losers she and her posse of REIC clowns really are.* * *Comment by kThomas
2007-04-11 14:31:48
Marin County is the state capitol for arrogance. People who live there often think their crap no longer stinks. Besides, Leslie Appleton-Young (love the name) is a paid liar. Her words are worth less than nothng, at this point.
14 comments:
Someone should keep these quotes from LAY and DL for posterity.
DL seems to pretty much recommend the exact opposite of what a wise investor should do (he was hyping internet stocks in 2000 and Real Estate in 2005 as can't lose investments).
It will be funny to put LAY's quote next to the price declines in the next few years.
There is already the David Lereah Watch blog that is keeping track of what Lereah says. We need the same sort of thing for LAY.
Who is this LAY? Is she as credible as Al Greenspan? Even he had no clues few years ago regarding the US real estate market. People should believe in her?
Her statement does not mean anything. If she has not seen something happened in her life time, it does not mean this thing will stay the same without changes. Her comments just show her ignorance and discredit herself in a big way.
Marin got hit along with the rest of the Bay Area in the early '90's. I know people who had their property taxes re-assessed because their home values had gone down 20% in 2 years. And this was in ROSS! I have two friends who lost their shirts when they had to sell.
BTW, The Marin Heat Index is at a whopping .72, which still indicates a buyer's market. And this in the middle of Spring, in "God's Country."
LAY's comments make me ill. I just hope no one believes her.
You know..
I read that IJ article tonight and I came away with a few distinct impressions..
1. It must be the NAR's strategy is to reach out to it's pillar's of strength in this stench ridden market. In this case, Marin county. I'm sure they're making similar speeches in the Hamptons, parts of LA etc. Much like Hitler’s Battle of the Bulge strategy. However, that one failed too, as the German’s were flanked on all sides just like the NAR is at present.
2. As I read the article and saw her dissing real hard evidence to the contrary (like the score and the team’s play), it felt like I was reading excerpts from a HS football coaches' half-time speech to his team that was getting thumped. Like I said, it's a war out there right now and the NAR obviously knows it.
3. In the article, I recall reading something to the effect of .. “Tell me anyone who regrets entering the Marin housing market ?”.. Uh, um, oh Leslie.. I bet I can walk a few hundred yards in any direction in any neighborhood in my town and find a ½ dozen recent buyers who are scared sh_ _ less (as they should be) for entering this market. After all, the average home price of about $965K is an absolute ton on money, so is half that amount by the way.
4. The low inventory numbers she referred to in her speech. Well, I’m back on my conspiracy theory on this one. This is true in the general sense if you look at the MLS raw data at present. Although the inventory is steadily climbing again here in Marin, I’m quite, quite certain that the Marin RE machine is acutely aware of that inventory is a bad, bad thing, and that are actively working together to discourage listings. I’m sure they are doing the bulk of their work and sales off the MLS books and the brokers are working together, Matrix like. As someone pointed out on this blog already, when the stakes are highest, as they are here in Marin, the lies, back door deals and deceptive practices are the greatest.
Those are my observations anyhow..
You know..
I read that IJ article tonight and I came away with a few distinct impressions..
1. It must be the NAR's strategy is to reach out to it's pillar's of strength in this stench ridden market. In this case, Marin county. I'm sure they're making similar speeches in the Hamptons, parts of LA etc. Much like Hitler’s Battle of the Bulge strategy. However, that one failed too, as the German’s were flanked on all sides just like the NAR is at present.
2. As I read the article and saw her dissing real hard evidence to the contrary (like the score and the team’s play), it felt like I was reading excerpts from a HS football coaches' half-time speech to his team that was getting thumped. Like I said, it's a war out there right now and the NAR obviously knows it.
3. In the article, I recall reading something to the effect of .. “Tell me anyone who regrets entering the Marin housing market ?”.. Uh, um, oh Leslie.. I bet I can walk a few hundred yards in any direction in any neighborhood in my town and find a ½ dozen recent buyers who are scared sh_ _ less (as they should be) for entering this market. After all, the average home price of about $965K is an absolute ton on money, so is half that amount by the way.
4. The low inventory numbers she referred to in her speech. Well, I’m back on my conspiracy theory on this one. This is true in the general sense if you look at the MLS raw data at present. Although the inventory is steadily climbing again here in Marin, I’m quite, quite certain that the Marin RE machine is acutely aware of that inventory is a bad, bad thing, and that are actively working together to discourage listings. I’m sure they are doing the bulk of their work and sales off the MLS books and the brokers are working together, Matrix like. As someone pointed out on this blog already, when the stakes are highest, as they are here in Marin, the lies, back door deals and deceptive practices are the greatest.
Those are my observations anyhow..
sorry for that double post folks..
“Tell me anyone who regrets entering the Marin housing market ?”.. Uh, um, oh Leslie..
A friend of mine who lives in the Hamilton area could find you at least a dozen people who are sorry. They haven't been able to unload their flips, some just want to move and can't, and the common lament is that prices are down 15% even now in our important spring season.
I’m sure they are doing the bulk of their work and sales off the MLS books and the brokers are working together
I know about realtors who sell their POSs to each other to keep prices up. But I never thought about this one...deliberately keeping the inventory down.
The RE business is a dirty business. It is so in need of regulation and enforcement.
I'm curious how much readers of this blog think Marin RE prices are going to drop in terms of %. Anyone?
I know that san francisco dropped 29% in the last downturn,however countywide stats aren't real helpful since some neighborhoods do a whole lot better or worse than others.I do recall getting my first real estate sales license in '76,and watching prices decline 30% in a matter of months in pneumonia gulch (trestle glen).I no longer object to the ij or pd publishing the stupid lies of LAY or lereah,anyone who is not deaf and blind knows real estate is going in the tank...reduced signs are all over,and everyone knows someone in trouble over a bad real estate deal
http://www.kron4.com/global/Category.asp?c=85671
Scroll down to the "Bay Area Housing Market Heating Up".
That woman is a great example of the psychology of Bay Area RE.
We're lucky it's "god's country" here, because it will take an act of god to keep some people solvent when things turn. Keep burning that equity...god will save you!
"That woman is a great example of the psychology of Bay Area RE."
******
She reminds me that we do not lack for know-it-alls in the Alt-A Bay Area.
I loved her explanation about having to overbid now, or fear being outbid and losing out in June or July.
I was laughing.
As well, did you notice the smirk on the realtor when asked to explain what was going on? Nearly couldn't keep a straight face...
"It's the 'usual' San Francisco market again."
A realtor could have produced this piece for KRON-4.
Ridiculous.
Hey sf jack, thanks for checking it out.
Yes, it could have been a DL/LAY production.
It scared me.
I felt the need to overbid on my groceries.
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