[OmegaSupreme]

Originally Posted by lvmensch

Don't be absurd. The view of various "experts" is widely available.

I speak only for me. And I am right mostly. But the industry speaks for itself and is not doing well on this incident.

And it is good when reality is kinder than the experts.

Stick to writing contracts, your job isn't to predict the market, unless you want one of your customers to sue you. Or do you actually have an economics degree and are employed as an economist?

What have you been right about anyway?

[lvmensch]

Originally Posted by OmegaSupreme

Stick to writing contracts, your job isn't to predict the market, unless you want one of your customers to sue you. Or do you actually have an economics degree and are employed as an economist?

What have you been right about anyway?

The job of RE Agents is to advise their clients on what is likely to happen. So yes it is my job to inform my clients of where the market is headed. And I give the client a generic view of what the industry experts are saying and what the current data is.

And I have some skills. For at least half my working career I was involved in producing heavy economic analysis of such things as siting manufacturing and the profits from various alternative strategies.

And I am right virtually always in that I am simply reporting the present data. And I find it interesting to note the experts remain much more negative than the data. Could be just time delays. We will see.

[OmegaSupreme]

Originally Posted by lvmensch

The job of RE Agents is to advise their clients on what is likely to happen. So yes it is my job to inform my clients of where the market is headed. And I give the client a generic view of what the industry experts are saying and what the current data is.

And I have some skills. For at least half my working career I was involved in producing heavy economic analysis of such things as siting manufacturing and the profits from various alternative strategies.

And I am right virtually always in that I am simply reporting the present data. And I find it interesting to note the experts remain much more negative than the data. Could be just time delays. We will see.

You're confused about your actual role, so I will spell it out for you, it's nothing more than handling transactions. You cannot legally give economic advice, you are not licensed to do that.

You're saying you know better than the experts? Kind of reminds of someone.

What's your prediction of the housing market over the next 12 months? Over the next 2-3 years? I've already stated mine.

It's not experts that over/underestimate things that matters, it's the market, that's what actually counts.

[lvmensch]

Originally Posted by OmegaSupreme

You're confused about your actual role, so I will spell it out for you, it's nothing more than handling transactions. You cannot legally give economic advice, you are not licensed to do that.

You're saying you know better than the experts? Kind of reminds of someone.

What's your prediction of the housing market over the next 12 months? Over the next 2-3 years? I've already stated mine.

It's not experts that over/underestimate things that matters, it's the market, that's what actually counts.

That is of course garbage.

The law requires me to disclose to a client anything I know that bears on a transaction. The coming direction of the market and its present state certainly bears on the transaction.

And note that in NV we do practice law by the eastern standards. And we regularly write additional clauses into contracts which would be illegal in the east. If I do anything difficult or with significant risk I have our legal guy check it out. But simple standard stuff just write it in.

[strato58]

How do you know the coming direction of the market? At best all you have are the current day changes in actives, under contract and solds. At worst you're working on old information put in MLS mostly inaccurately by agents. Not sure how anyone can play Kresin in the RE market.

[Lwcasu]

Originally Posted by strato58

How do you know the coming direction of the market? At best all you have are the current day changes in actives, under contract and solds. At worst you're working on old information put in MLS mostly inaccurately by agents. Not sure how anyone can play Kresin in the RE market.

It’s not overtly difficult to be able to advise clients there is an increase in the supply of inventory, less people looking to buy houses, a lack of income for many people right now, and banks bumping up mortgage requirements. All of that probably isn’t very favourable for real estate.

[OmegaSupreme]

Originally Posted by lvmensch

That is of course garbage.

The law requires me to disclose to a client anything I know that bears on a transaction. The coming direction of the market and its present state certainly bears on the transaction.

False, you should not be giving your opinion on something you are not qualified to do. Again, go ask GLVAR they will immediately advise you to do some more education courses. Or ask your broker, because you seem to be lost. No offense though.

If you were required to comment on the market's direction, you would have zero buyers, and therefore zero listings. Only a complete fool would be buying right now. Do you tell your clients they are fools?

Originally Posted by lvmensch

And note that in NV we do practice law by the eastern standards. And we regularly write additional clauses into contracts which would be illegal in the east. If I do anything difficult or with significant risk I have our legal guy check it out. But simple standard stuff just write it in.

Yes anyone that has access to a pen can write in additional clauses that does not make you a lawyer. There is a reason why purchase agreements have ballooned from 1 page to 11 plus (or whatever number) pages, it's because of people like you. It's to avoid lawsuits. They were written by lawyers.

Also, we've had this discussion before, I fear senility is kicking in. Nothing to be embarrassed about old friend.

[eventusstultorummagister]

Originally Posted by lvmensch

And I am right virtually always in that I am simply reporting the present data.

It's odd how some never reach metanoia.

[Mariza160]

Originally Posted by OmegaSupreme

False, you should not be giving your opinion on something you are not qualified to do. If you were required to comment on the market's direction, you would have zero buyers, and therefore zero listings. Only a complete fool would be buying right now. Do you tell your clients they are fools?

So by your own standards, you shouldn't be talking anything about Real Estate transactions. Are you licensed
Omega, in real estate or anything else?

I think you need to go back and do more research yourself on the real estate market and how it actually
operates. You can choose to NOT use an agent but most customers (myself included) do. And yes, we
expect our agents to know what the market has done in the past and be able to advise us on what THEY
think the market will do in the future. The same concept holds for people that use investment advisors for investment advice and medical doctors for medical advice.

I did hold a real estate license (now inactive) so I am educated on what the state (law) requires real estate
agents to do and know. As in any professional, there are some agents that are more skilled than others
but it requires much more than being a simple paper pusher or processor.

I'm not sure why you are telling other people or trying to decide for them whether or not they should
purchase real estate now...that's the height of arrogance and hypocrisy.

[timothyaw]

Originally Posted by strato58

... I'm also looking at the Phoenix area and you get way more bang for the buck there...

Way more bang for your buck if you move to the exurban areas of the metro (Buckeye,Queen Creek, San Tan Valley, Maricopa, Casa Grande). The more desirable areas that are closer in (Central Phoenix, Scottsdale, Chandler, Gilbert, Tempe) prices are crazy high. You pay for convenience and quality.