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Old 12-14-2011, 10:45 AM
 
Location: Columbia, SC
11,031 posts, read 22,129,572 times
Reputation: 10777

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Quote:
Originally Posted by bbronston View Post
For me, this story is meaningless anyway. The only stats that are meaningful for most people who have an interest in the first place are local stats as an indication of price direction and, as long as the local association's methodology has been consistent, that's good enough to get a grip on the local market. Our area has been hot and continues to get hotter with November sales at the highest point since 2005. We are (if the trend continues) heading for a seller's market . If buyers choose to take the position that the association can't be trusted and it's all a bunch of lies, they will continue to find that their lowball offers will be rejected and, eventually, they'll figure it out for themselves.
This is a good point. It makes me wonder if that also means the info from the bubble was also inflated? I'd think so if they were using the same compilation methods. I don't care enough to look into it because I feel the same as the quote. I know my local numbers and they are what count in my book.
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Old 12-14-2011, 02:44 PM
 
Location: Barrington
63,917 posts, read 47,011,791 times
Reputation: 20676
Default Garbage in- Garbage out

Quote:
Originally Posted by Brandon Hoffman View Post
I'm no NAR apologist (go back and look at my post history if you don't believe me), but I can understand how some of those mistakes can be made if they are compiling data from various sources-especially with the new construction.
I'm with you. I tend to work one zip code, a 100 square mile area and know the dirt and can count. My numbers d have never matched the local MLS for the same zip. It also does not take in consideration FSBOS, a non issue now but back in 2005....

Thousands of regional MLS are feeding into NAR.
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Old 12-14-2011, 03:45 PM
 
3,335 posts, read 2,999,290 times
Reputation: 921
The disturbing part, sans the "all Real Estate is local excuses" that we are hearing.
Is that the Chain store Agent offices use the national statistics to paint a false view of the market, thereby leading buyers to purchase a home that isn't the best investment at the time.

Let the market crash to where it will, and then get on with the recovery. This drip, drip, drip of false information and sales manipulation is pathetic and self serving.

Realtors have to be optimistic, but they don't have to be dishonest.
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Old 12-14-2011, 04:08 PM
 
Location: Illinois
718 posts, read 2,088,001 times
Reputation: 987
Do not forget that Realtors are the bread and butter of the National Association of Realtors and all State Associations as well. The supreme "barnicle" business....the broker feeds off the lowly agent, the associations feed off the broker and therein lies the problem with the entire real estate business. Credibility flies out the window when the consumer knows you are getting a "piece" of any financial action that might take place. In these past 30 years, I have come to have an abiding disrespect for NAR and their ability to put a "spin" on any economic period. If you don't pay your dues, you cannot call yourself a "realtor", ...if you don't pay your dues and then pay the dues to the State and then to some local association, you don't get MLS access and so on and so on. I now have my own real estate consulting business. Fee for service. Billed just like your doctor, accountant and lawyer. If you buy or sell or don't buy or sell based on the written opinions I produce for an hourly fee, nothing more, that is perfectly fine. I will represent you...negotiate but never take a commission. Suddenly, I have tremendous credibility....go figure.
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Old 12-15-2011, 09:04 AM
 
Location: Columbia, SC
11,031 posts, read 22,129,572 times
Reputation: 10777
Quote:
Originally Posted by modeerf View Post
The disturbing part, sans the "all Real Estate is local excuses" that we are hearing.
Is that the Chain store Agent offices use the national statistics to paint a false view of the market, thereby leading buyers to purchase a home that isn't the best investment at the time. .
I understand your point but I don't agree with it. I am a chain store agent. It could be argued that I am the most well informed agent in my market and I don't even know national numbers. I know local numbers. Also, I suspect that they used the same erroneous methods in the peak and if so, those numbers would also be inflated leaving %'s roughly the same.

Quote:
Originally Posted by modeerf View Post
Let the market crash to where it will, and then get on with the recovery. This drip, drip, drip of false information and sales manipulation is pathetic and self serving.

Realtors have to be optimistic, but they don't have to be dishonest.
Agree with "let the market crash" but that falls back more on the g'vment trying to prop it up. I doubt the information was intentionally falsified. I believe it would be very easy to make that mistake when compiling info from various sources. I agree that their should be honesty (and transparency).
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Old 12-17-2011, 09:53 AM
 
Location: NJ
2,210 posts, read 7,048,107 times
Reputation: 2193
Quote:
Originally Posted by LynnKK View Post
Do not forget that Realtors are the bread and butter of the National Association of Realtors and all State Associations as well. The supreme "barnicle" business....the broker feeds off the lowly agent, the associations feed off the broker and therein lies the problem with the entire real estate business. Credibility flies out the window when the consumer knows you are getting a "piece" of any financial action that might take place. In these past 30 years, I have come to have an abiding disrespect for NAR and their ability to put a "spin" on any economic period. If you don't pay your dues, you cannot call yourself a "realtor", ...if you don't pay your dues and then pay the dues to the State and then to some local association, you don't get MLS access and so on and so on. I now have my own real estate consulting business. Fee for service. Billed just like your doctor, accountant and lawyer. If you buy or sell or don't buy or sell based on the written opinions I produce for an hourly fee, nothing more, that is perfectly fine. I will represent you...negotiate but never take a commission. Suddenly, I have tremendous credibility....go figure.
Good for you. I'd hire you if you operated in the area. I gave up looking for someone truly independent.
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Old 12-19-2011, 07:58 AM
 
3,457 posts, read 3,637,750 times
Reputation: 1549
Quote:
Originally Posted by modeerf View Post
The disturbing part, sans the "all Real Estate is local excuses" that we are hearing.
Is that the Chain store Agent offices use the national statistics to paint a false view of the market, thereby leading buyers to purchase a home that isn't the best investment at the time.
but that's how propaganda works.
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Old 12-19-2011, 08:24 AM
 
Location: Barrington
63,917 posts, read 47,011,791 times
Reputation: 20676
Quote:
Originally Posted by modeerf View Post

Is that the Chain store Agent offices use the national statistics to paint a false view of the market, thereby leading buyers to purchase a home that isn't the best investment at the time.
The stock market over time outperforms real estate as an investment.

How does one time an investment? Back in October, 2008 serious millions sold their stocks and fled to the safety of treasuries. Others saw this time as the buying opportunity of a lifetime.

Timing a market, any market, is like trying to catch a knife.

We all have to live somewhere.
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Old 12-19-2011, 09:04 AM
 
Location: Columbia, SC
11,031 posts, read 22,129,572 times
Reputation: 10777
Quote:
Originally Posted by LynnKK View Post
...if you don't pay your dues and then pay the dues to the State and then to some local association, you don't get MLS access and so on and so on.
I don't disagree with your post, but the highlighted part is incorrect in most of the country if not all of it. NAR is not tied to MLS so you can join MLS w/o being a member of NAR and vice versa.
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Old 12-19-2011, 09:05 AM
 
Location: Columbia, SC
11,031 posts, read 22,129,572 times
Reputation: 10777
Quote:
Originally Posted by AnthonyB View Post
Good for you. I'd hire you if you operated in the area. I gave up looking for someone truly independent.
Most agents don't give a rip about NAR, fyi.
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