A place for residents of Marin County, CA and others to express their views regarding the real estate bubble and in particular the Marin real estate market
Sunday, September 17, 2006
A Great Marin Realtor Rant
There's a great rant by a Marin realtor in "The Warren" post. Go check it out. It's the one posted on 9/17/2006 07:00:00 AM.
13 comments:
Anonymous
said...
This is a great example showing how biased this “realtor” is and I hope he/she represents just one individual case. This realtor is trying to portray themselves and their industry as innocent victims and then attacking a blogger. The real estate industry has hoarded, privatized, and censored data and statistics making it almost impossible for normal people to get that data in an objective and unbiased form so as to draw their own conclusions from it. Marinite has tried to get that data and has been doing a great public service by sharing it. If realtors truly cared about the buyer then they would stop the cheerleading of the market and publicly acknowledge the inherent risks in the market…even Marin’s market, the cyclical nature of the market, the fact that not everyone who buys in Marin makes money, risky loans, and more importantly, how the system is rigged in favor of the seller and the realtors’ commission, etc. Marin realtors are hardly the victims here.
"The real estate industry has hoarded, privatized, and censored data and statistics making it almost impossible for normal people to get that data in an objective and unbiased form so as to draw their own conclusions from it."
And how this is different from every other major industry in American?
Anybody hear Michael Finney show today? Two RE experts saying the same thing. Bay area is different. They aren't making any more land. Prices are level for now but will soon shoot up again. Buy while you can. Fundamentals and other stuff don't matter 'cause the big money folks can afford it and always will.
If fundamentals and other stuff don't matter, why we are seeing huge inventory built up and prices reduction across the whole bay area? People always say this place is special and immune from the basic law of gravity. Is it truly the case? Or the past history could truly be the same for the future? People were making assumptions about the stock market back in the 90's that it would only go up based on the history. It is dangerous to make assumptions like that. At some point, economic law still works.
Anybody hear Michael Finney show today? Two RE experts saying the same thing. Bay area is different. They aren't making any more land. Prices are level for now but will soon shoot up again.
With the news/stats we've seen sofar...that assertion boggles the mind. Isn't Finney supposed to be a "consumer advocate"? He's sounded like a RE bull in the past, and now just seriously out of touch.
Fundamentals and other stuff don't matter 'cause the big money folks can afford it and always will.
Typical SFBay arrogance. If that were the case, those big ticket homes in Marin would sell, vs languishing for 6+ months. In reality, there are only so many "big money" here--and they don't buy middle-class homes. Sorta obvious, eh?
Regarding the "agent" visit, I can only wonder how a person can represent their business that way (as if we won't be homebuyers someday?). At least Warren was civil in his visit.
"Fundamentals and other stuff don't matter 'cause the big money folks can afford it and always will."
This is something which has been lingering in the back of my mind for some time: is it possible to disconnect fundamentals (mortgage vs. rent income) when it comes to housing prices?
The purchase price is not driven by rents, it's driven by buyer valuations. Presumably the buyer would value a good investment over a bad one, but still that's a judgment call. Say somebody wants to own very badly, they might well pay the extra cost over renting just for the privilege of owning. A financial advisor might tell them they'd be better off renting, but owning makes them happier. And they sleep well with that at night thinking about their big interest deductions.
Certainly in individual cases this is possible, but can it apply to a whole system such as the "Bay Area" for a prolonged length of time? Certainly not if it's FBs with option ARMs doing all the buying-- eventually that pool will exhaust and not replenish as their savings dwindle and they go belly up.
But with a lot of sparkling credit currency fresh off the printing presses going into new startups and what not, it makes me wonder if a sustained disconnect from fundamentals can persist under a situation of startup corporations who, unlike FBs, can just go bankrupt without being held accountable for the easy money salaries going to their employees.
Eventually even that would have to come to an end. Has it? Maybe, though I'm not so sure.
Yes, I keep posting the url to this blog on Warren's blog and he keeps deleting my posts. I then posted a question -- basically asking why Warren keeps deleting the posts and asking what he is afraid of (no link or mention of this blog)? Even THAT got deleted by Warren!
Warren Carreiro -- you are a spineless jellyfish of a man. You don't have the courage to directly identify those you accuse and attack. You do not allow your readers to have what they need to make up their own minds. You seem to prefer that your readers only be exposed to your propaganda. No one should trust you.
13 comments:
This is a great example showing how biased this “realtor” is and I hope he/she represents just one individual case. This realtor is trying to portray themselves and their industry as innocent victims and then attacking a blogger. The real estate industry has hoarded, privatized, and censored data and statistics making it almost impossible for normal people to get that data in an objective and unbiased form so as to draw their own conclusions from it. Marinite has tried to get that data and has been doing a great public service by sharing it. If realtors truly cared about the buyer then they would stop the cheerleading of the market and publicly acknowledge the inherent risks in the market…even Marin’s market, the cyclical nature of the market, the fact that not everyone who buys in Marin makes money, risky loans, and more importantly, how the system is rigged in favor of the seller and the realtors’ commission, etc. Marin realtors are hardly the victims here.
That missive was certainly disjointed, I wouldn't trust her with a shopping list let alone a seven figure purchase?
Notice what's missing in that rant?...FACTS !!!!
Who is drinking that much at 7:00 AM?
Seriously!
Who is drinking that much at 7:00 AM?
Judging by the number of open houses today I'd say she was just getting ready for the open houses.
"The real estate industry has hoarded, privatized, and censored data and statistics making it almost impossible for normal people to get that data in an objective and unbiased form so as to draw their own conclusions from it."
And how this is different from every other major industry in American?
And how this is different from every other major industry in American?
For starters I don't have to look at the faces of other industry people as I push my shopping cart down the aisle twice a week.
When I'm feeling a bit 'Coo-Coo', I try to relax with some Bubble Bees.
http://www.ferryhalim.com/orisinal/g3/bubble.htm
ps. be sure to turn on the sound..very relaxing.
Anybody hear Michael Finney show today?
Two RE experts saying the same thing.
Bay area is different.
They aren't making any more land.
Prices are level for now but will soon shoot up again.
Buy while you can.
Fundamentals and other stuff don't matter 'cause the big money folks can afford it and always will.
If fundamentals and other stuff don't matter, why we are seeing huge inventory built up and prices reduction across the whole bay area? People always say this place is special and immune from the basic law of gravity. Is it truly the case? Or the past history could truly be the same for the future? People were making assumptions about the stock market back in the 90's that it would only go up based on the history. It is dangerous to make assumptions like that. At some point, economic law still works.
Anybody hear Michael Finney show today?
Two RE experts saying the same thing.
Bay area is different.
They aren't making any more land.
Prices are level for now but will soon shoot up again.
With the news/stats we've seen sofar...that assertion boggles the mind. Isn't Finney supposed to be a "consumer advocate"? He's sounded like a RE bull in the past, and now just seriously out of touch.
Fundamentals and other stuff don't matter 'cause the big money folks can afford it and always will.
Typical SFBay arrogance. If that were the case, those big ticket homes in Marin would sell, vs languishing for 6+ months. In reality, there are only so many "big money" here--and they don't buy middle-class homes. Sorta obvious, eh?
Regarding the "agent" visit, I can only wonder how a person can represent their business that way (as if we won't be homebuyers someday?). At least Warren was civil in his visit.
"Fundamentals and other stuff don't matter 'cause the big money folks can afford it and always will."
This is something which has been lingering in the back of my mind for some time: is it possible to disconnect fundamentals (mortgage vs. rent income) when it comes to housing prices?
The purchase price is not driven by rents, it's driven by buyer valuations. Presumably the buyer would value a good investment over a bad one, but still that's a judgment call. Say somebody wants to own very badly, they might well pay the extra cost over renting just for the privilege of owning. A financial advisor might tell them they'd be better off renting, but owning makes them happier. And they sleep well with that at night thinking about their big interest deductions.
Certainly in individual cases this is possible, but can it apply to a whole system such as the "Bay Area" for a prolonged length of time? Certainly not if it's FBs with option ARMs doing all the buying-- eventually that pool will exhaust and not replenish as their savings dwindle and they go belly up.
But with a lot of sparkling credit currency fresh off the printing presses going into new startups and what not, it makes me wonder if a sustained disconnect from fundamentals can persist under a situation of startup corporations who, unlike FBs, can just go bankrupt without being held accountable for the easy money salaries going to their employees.
Eventually even that would have to come to an end. Has it? Maybe, though I'm not so sure.
Yes, I keep posting the url to this blog on Warren's blog and he keeps deleting my posts. I then posted a question -- basically asking why Warren keeps deleting the posts and asking what he is afraid of (no link or mention of this blog)? Even THAT got deleted by Warren!
Warren Carreiro -- you are a spineless jellyfish of a man. You don't have the courage to directly identify those you accuse and attack. You do not allow your readers to have what they need to make up their own minds. You seem to prefer that your readers only be exposed to your propaganda. No one should trust you.
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