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Old 07-17-2012, 12:37 PM
 
Location: Florida -
8,307 posts, read 10,093,470 times
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Quote:
Originally Posted by bbronston View Post
Correct. I don't and your comment clearly reveals your lack of understanding of what we do and how we do it. We agents don't determine pricing, the market does. The data we utilize come from what buyers and sellers have already decided between themselves. Agents have nothing to do with setting prices. We make buyers and sellers aware of what others have already done and what other options exist that might affect pricing. Buyers and sellers then decide what to do from that point. We can't fake the history, it is there for all to see.
Do you believe that everything reported in the news is truthful and unbiased .... or do you believe that selective reporting and 'spin' have something to do with it. Similarly, the realtors I know have been touting the 'bottom of the market and time to buy' mantre for the past 3-4 years .... each using a set of supporting data. Do you believe they have all been right? (Of course not, which was the basis of my point about 'having a dog in the fight.')
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Old 07-17-2012, 01:12 PM
 
Location: Lakewood Ranch, FL
5,133 posts, read 7,702,171 times
Reputation: 6042
Quote:
Originally Posted by jghorton View Post
Do you believe that everything reported in the news is truthful and unbiased .... or do you believe that selective reporting and 'spin' have something to do with it. Similarly, the realtors I know have been touting the 'bottom of the market and time to buy' mantre for the past 3-4 years .... each using a set of supporting data. Do you believe they have all been right? (Of course not, which was the basis of my point about 'having a dog in the fight.')
Well, I was a new agent in mid 2005 when prices kept climbing and we were the hottest market in the US. Every agent I knew kept saying the trend couldn't continue that way and every customer knew it, too. Also, if you'll recall, the media was talking about the "housing bubble" at that time and there were plenty of calls for caution before the inevitable bubble burst. I think people have a tendency to forget all of that and want to simplify what was a very complicated chain of events by just saying that the banks were evil and the realtors were greedy. I'm sure some of that may have been the case but most of it was really just markets being markets. If people are not comfortable with markets, then they shouldn't be in them.

I never told people I worked with that prices would keep going up or that prices would keep going down because that is impossible for anyone to predict accurately with 100% consistency. But, I can look at historical data and tell people with 100% accuracy what has been happening and where the market is at this moment in time. Anything else is up to the buyer and seller to decide for themselves. When you see articles in the news saying the market has bottomed, they are talking about history (however recent), not the future. Unfortunately, people have a tendency to extrapolate analysis of the past into predictions of the future and then complain about something that is nothing more than a guess if it is a guess at all.
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Old 07-17-2012, 11:05 PM
 
1,077 posts, read 2,590,455 times
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Inventory is down, buying is up, but from my experience of a friend trying to buy a house, it's investors buying homes instead of familes. Rich people buying houses for cheap to rent to people with less money or those unable to buy a house because of losing a home recently. I'm not sure if that's a sign that the housing bust is over. Just smart rich people taking advantage of a good situation (or bad situation, depending how you look at it).
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Old 07-18-2012, 06:09 AM
 
5,507 posts, read 9,040,324 times
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Quote:
Originally Posted by Everest209 View Post
Inventory is down, buying is up, but from my experience of a friend trying to buy a house, it's investors buying homes instead of familes. Rich people buying houses for cheap to rent to people with less money or those unable to buy a house because of losing a home recently. I'm not sure if that's a sign that the housing bust is over. Just smart rich people taking advantage of a good situation (or bad situation, depending how you look at it).
Investors are likely at lower price points though.
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