Just when I thought that all realtors were getting up-to-date with what we all know, I am once again reminded that some realtors will perpetuate the old myths at any cost. Just for fun, I’m poking around at the RealtyTimes site to glean bits of wisdom from realty professionals. Are there others as astute and open as Bob Casagrand? It appears not. The following are March 2006 reports off the website, unless noted otherwise.
Wanda Sajtar writes, “To listen to the media you would think we were going to crash and burn. However, if you had been listening to them the last 5 years in a hot market you would have lost out. Not much credibility there. Our economy is great.More people are moving here than away and we are short housing by a measurable sum” (2/28/06). OK, the media has been warning us for 5 years that RE will crash and burn? We have a net inflow of migration? There’s a housing shortage?
Dawn Lewis reminds us that San Diego is landlocked, except to the east. She implies this affects pricing.
Sam Blank, Ed.D. teaches us, ” San Diego is a highly desirable place to live and demand for homes still exceeds supply.”
Didn’t he read Rich’s article debunking that myth? Shouldn’t we let him know??? And this guy has a doctorate, is a notary public, member of the Chamber of Commerce, and a Senior RE Specialist. With all those credentials, you’d think he would know more than me. At least he should know that when inventory rises and sales fall, that supply exceeds demand. But maybe they don’t make you take Econ101 to get that Education Doctorate.
Hey, who can blame these realtors for being in the dark. After all, the California Association of Realtors touts the housing shortage, too: “The double-digit gain in the median price of a home, which California has experienced for most of the past five years, will again be fueled by the continuing shortage of housing across much of the state…” (2006 Housing Market Forecast).
To my relief, the rest of the article was much more toned down than what they had posted even a couple months ago. They now state they predict a statewide median price increase of 10%, mainly in inland areas, although coastal areas could see a decline or leveling off in prices.
I came away concluding that no other realtor writing for RealtyTimes was as astute as Bob in reporting trends. Just a bunch of fluff… Which again proves you don’t need an analytical bone in your body to be a realtor. And that begs the question of why anyone would listen to them at all!
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