Just saw this press release on CNNMoney.com (emphasis added).
New Real Estate Blogs Give Consumers Access to Industry Experts
REALTOR.com(R) Features Posts By REALTORS(R) Sharing Expertise and Local Perspectives
September 20, 2007: 06:03 AM EST
LOS ANGELES, Sept. 20 /PRNewswire-FirstCall/ -- Consumers can now get the inside scoop on real estate from REALTORS through a new blog program recently launched by REALTOR.com, Featured Blog and "Let's Talk Real Estate!"
Created to help consumers sift through rhetoric and connect with industry professionals, the 6 million monthly visitors at REALTOR.com can now tap into blog posts that cover local neighborhood information, negotiating strategies, valuations, hot local real estate trends, and more. Consumers can also use the blogs at REALTOR.com as a search and evaluation tool to select an agent that best fits their needs as they read posts from numerous REALTORS versed in different areas of expertise.
"People across the nation are talking about real estate and the housing market," said REALTOR.com President, Errol Samuelson. "There's a tremendous amount of information available that can be confusing or not relevant to someone's specific interests or local area. The blog program on REALTOR.com connects consumers with experts so they can get information on specific industry trends, become familiar with a REALTOR in their area and gain a better understanding of their own local market." ...
An attempt to substitute REALTOR(R) "experts" for bubble blogger - not to mention finally MSM - "rhetoric"?
I just promised no real estate agent bashing, and then they do something like this.
13 comments:
Jeesh - talk about fox watching over the hen house.
This is absolutely one of your funniest posts -- and it's funny only because of what you highlighted in the press release, not because of your commentary. Brilliant.
Now on a sadder note: Today, I called a realtor to check on a condo lease in Venice. When she told me the rental price was $5300 a month, I spontaneously laughed on the phone. When I realized I was laughing, I laughed harder, injecting a mocking tone into my voice. It was a release of pent up frustration about the inanity of housing prices, and I actually felt bad about how this frustration was expressing itself; by making fun of someone.
At that point, the agent started laughing at me in a mocking voice and through her laughter she said, "Of course it's $5200 -- this is a million-and-half dollar condo!" Is it? No, ma'am. I don't think so. That bus has left the station. Good luck renting it.
Iraq, terrorism, the economy, falling real estate values, and now bubble bloggers. It looks like an all out ideological war on many fronts. This really says something about the times we are living in.
The danger of having their own REALTOR blog is that it leaves tracks - 50 years from now someone will discover that there was never a time that was described as a bad time to buy.
For those few individuals who plan to live in a home for more than 5-10 years the availability of long term financing at today's rates might prove to be a bargain.
anon
"...the availability of long term financing at today's rates might prove to be a bargain."
Possibly, however the most ideal time to buy is when rates are HIGH and property values are LOW.
We have the EXACT opposite going on right now. When we look back, we will most likely see that 2006-20xx were the horrible times to buy, even if you plan to stay put long term.
This is a very good point - but look at it another way - When house prices in Santa Monica fall dramatically beyond what we have seen, it will likely happen at the same time that interest rates go up. If you buy a house today in Santa Monica and lock in a 30 year mortgage, your payments will be "x"
if you wait for the price of houses to fall while interest rates go up, your monthly payments might not be that different from "x" I am not suggesting anyone buy today, but am saying that even if prices come down SM may not become "affordable"
I believe that on this board are a lot of people who remember Santa Monica as it was years ago, when normal working middle class people could afford it.
There is a hope on the part of the people posting here that since Santa Monica was once a paradise for the middle class, it will once again be.
I sympathize -
But some neighborhoods change, and they never return to what they once were. To those who spend their time dreaming about Santa Monica returning to affordability, i say you are deluding yourself - go put down roots in another community - one that is within your price range.
Remember that if you have kids or plan to have kids, and you live in santa Monica you not only need to pay for the house but also for private schools (at least for high school) Private school now costs $25,000 per kid and is rising rapidly
In addition, the leaders of Santa Monica, in a bizarre social experiment, have allowed the drug dealing gang bangers free reign over many parts of Santa Monica -
Then they invite the world's homeless to camp out in every public park.
The leadership of Santa Monica wants to demonstrate its moral superiority over the other cites in the area with policies that are sympathetic to drug-crazed violent people, homeless or not. Are you aware that three people were shot North of Montana and one person violently murdered next to the pier so far this year as a result of the leadership's "afflict the comfortable" policies?
If you are in the middle class and hope that Santa Monica will ever again offer a healthy family environment, i encourage you to re consider.
To reinforce Anon's point on interest rates, back in 1985 when lot value north of Montana was only crossing $300K, interest rates for jumbo 30-year loans were over 12%. Even then it was a stretch for a two-income professional family to buy a POS house there.
Rates fell a couple of points in 1986 and prices started upward.
The more cash you have and the less debt you need the better lower prices will be for you in the future.
I wouldn't agree with drug dealing gang bangers free reign, though, and WarChestSM may have comments on SaMoHi.
"I just promised no real estate agent bashing, and then they do something like this."
I accept your apology.
High rates or high prices? Only one of those things can be refi'd sometime over the next 30 years... and it ain't the price.
I checked out this so-called "blog" and had to chuckle. Every post has the comments turned off -- of course, this is the NAR, and they wouldn't want to give truth a chance!
As for those posts, the first one is about "negative press" and how it has to be stopped. Followed by one post after another about how certain markets (Tucson, Albuquerque) are "immune" from this media-caused downtrend.
Hilarious. What a bunch of morons.
I am absolutely shocked, but apparently there is a real estate clerk who also knows something about hacking or viruses. Who knew!?
anon,
I agree with you on some points (about SM no longer being affordable to middle class wage earners).
However, as westside bubble said, I will disagree on the school system. Santa Monica High is a great school. It really is more like 2 schools within one. If you get your kid on the "right track", then they will be in AP classes amongst others whose parents own multi million dollar homes (yes, even 90402) and who are well educated.
Save up all that private school money and use it for your kid's down payment when interest rates are sky high.
"Hilarious. What a bunch of morons."
HEY! Those are highly trained perfessionals you're slandering!
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