Wednesday, September 13, 2006

Realtor Naiveté

Some of the comment sections on the bubble blog message boards can be pretty brutal towards Realtors. I don’t have any specific experience with Realtors that would lead me to believe any one that I have met were knowingly being dishonest and most that I have met have been mostly frank, especially in the past six months, in describing the slowdown in sales.

Despite the generally favorable experiences I have had with local Realtors, I can’t help but think that about 99% of the time they don’t know what they don’t know. Many Realtors in this market are fixated on the apparently “unique” geographical location of the Shore relative to NYC, or lack of land to build on in the area. (Never mind that Realtor’s in Darien or Short Hills say the same thing to their customers.) What they don’t understand, and I don’t expect them to, is that if, in their opinion, prices rose in Monmouth County because it is close to NYC and the beach, and had until recently been undiscovered, then prices should have remained stable in Sarasota, Florida or Fairfax, Virginia, or Needles, California, or any other town that is not close to NYC and the beach. Most, if not all of the increase in Shore house prices was not due to anything unique about the area. Instead, the increase in prices in this area has been due to the same detatchment from fundamental factors that caused a run-up in prices in areas that very few people would ever want to live.

6 Comments:

Anonymous Anonymous said...

Word, Sil.

Amazing that someone even needed to point out why the Jersey Shore, while special, is neither unique nor somehow inured to market pressures.

Guess that's why I would make a lousy teacher: There are some things that I refuse to believe are not self-evident.

-Jamey

Thursday, September 14, 2006 12:01:00 AM  
Anonymous Anonymous said...

Realtor Naivete = excuse for lying

Thursday, September 14, 2006 3:33:00 PM  
Anonymous Anonymous said...

Last time I checked the jersey shore has always been in the same unique location...he he he...so while it's location might be nice it is certainly nothing new...or did someone actually move nyc closer to the jersey shore recently...Donald Trump perhaps?

Thursday, September 14, 2006 4:53:00 PM  
Anonymous Anonymous said...

I'll take 1 week in the Carribean vs a whole summer at the NJ shore anytime!

Friday, September 15, 2006 10:42:00 AM  
Anonymous Anonymous said...

And all of us at the Jersey Shore are thankful for that!

Monday, September 18, 2006 7:49:00 PM  
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Thursday, October 12, 2006 1:36:00 AM  

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