Realtor Blames the Media
This is an excerpt from a letter in a California paper. The person doing the complaining is a Realtor. Go figure, I wonder how many properties he is trying to unload.
"THE HYPER real estate market couldn't last forever and on its own is slowing to a "normal" market.
This year is expected to have about 5 percent fewer sales and appreciation will still go up from 5 percent to 10 percent. This will be a welcome return to an "average" year where prices still increase and home ownership still makes sense.
However, the media have been exaggerating and that scares buyers into renting.
While every winter slows down in sales volume, media articles scream "slowing down" without explaining context."
posted by Little_Silvered at 10:37 AM
7 Comments:
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Same song and dance being performed by NJ Shore realtors. True, prices mayt not be dropping drastically & quickly yet - give it a cuople more months.
There are some price reductions to houses located in good towns, but on undesireable streets; (right on a major road, or have a restaurant or a cemetary in their back yards). These homes are also all in need of total renovation, and according to their values on zillow.com, they are all $100k over priced.
It is going to take honest media reporting and true data releases to make sellers and their pushy, greedy realtors to price more realistically for our new market conditions. As I am looking to buy a home, around $500k, with over 70% cash down, I no longer feel the need to jump on a POS when realtors tell me "hurry, this won't last" - I think I'll wait, let the people who want to spend the $ have it. If I am wrong, I have a sweet rental and my money.
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Damm Liberal Media!
I am scared to death about buy say half a dozon of so condos on the Jersy Shore because the media keeps telling me getting millions of dollars into debt is not a good thing.
Can I sue those liberal media fukers?
My boss at McDonalds says I may even get a raise next year which allow me to get into more condos!
Interesting article.....
http://money.cnn.com/2006/02/24/real_estate/home_cancellations/index.htm
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