BMIT

[Kilohana]

[quote=flu]I have a prediction. It’s a just a matter of time before a blog community blows up and people go on their way. It’s an evolution. People initially start on the same blog with the same interest, think the same. You get a few characters here and there that you scoff at routinely. They stop participating. Then without much to talk about, people start picking on each other, than someone gets pissed and steps away, then fewer and fewer people start picking on each other, eventually a forum is a ghosttown. I think the housing bubble has burst and it may very well take some of thesehousing bubble blogs too.
Oh well.[/quote]

It’s the ciiiiiiiiiiiircle of liiiiiiiiiiiiiife.

Are we seeing Peak Bubble Blog? I’ve been posting in one place or another for over 10 years now and in my experience, very few forums endure more than a few cycles of exodus. I don’t know how it happens, but drama always seems to slowly overshadow actual content until the eventual, inevitable implosion.

Bummer.

[Trojan4Life]

Some interesting posts, some of which I think require a little more consideration.

SDNerd has an interesting theory that it is possible for a neighborhood’s value to be manipulated through the postings on a blog. That’s a real chin-scratcher there, and it makes me wonder.

Think about a theoretical blogger exhorting his fairly vast, regionally-focused readership to lowball bids on homes in targeted neighborhoods based upon the blogger’s desire to drive prices down in those neighborhoods to facilitate a purchase at a price they are comfortable with. Sounds a little like stock price manipulation, but virtually the same. Imagine the economic impact felt by those neighborhoods, and the anger those people would feel if that blogger in fact had that kind of impact. I know it’s a stretch, but it’s only a theory.

Then add into the mix that information about the purchase is disclosed to someone this blogger apparently trusts, because some relationships have been formed between posting individuals to the point where a trust bond was created. Imagine if that blogger disclosed to the person he trusted the way they got such a great deal, and the trusted party – acting in an ethical manner – said that the blogger may have acted illegally, unethically and at the very least immorally, and thought the blogger should be sued. The fact that the trusted party stated they would not actively disclose the blogger’s identity makes me for one pause and think. Then, through the power of the blogosphere, other uncover the scheme because certain regular posters to the blog – posters who may be that trusted person – are not weighing in.

These thoughts are purely theoretical, but it makes you wonder…SD Realtor and SDRealtor, what do you think?????

[Trojan4Life]

Some interesting posts, some of which I think require a little more consideration.

SDNerd has an interesting theory that it is possible for a neighborhood’s value to be manipulated through the postings on a blog. That’s a real chin-scratcher there, and it makes me wonder.

Think about a theoretical blogger exhorting his fairly vast, regionally-focused readership to lowball bids on homes in targeted neighborhoods based upon the blogger’s desire to drive prices down in those neighborhoods to facilitate a purchase at a price they are comfortable with. Sounds a little like stock price manipulation, but virtually the same. Imagine the economic impact felt by those neighborhoods, and the anger those people would feel if that blogger in fact had that kind of impact. I know it’s a stretch, but it’s only a theory.

Then add into the mix that information about the purchase is disclosed to someone this blogger apparently trusts, because some relationships have been formed between posting individuals to the point where a trust bond was created. Imagine if that blogger disclosed to the person he trusted the way they got such a great deal, and the trusted party – acting in an ethical manner – said that the blogger may have acted illegally, unethically and at the very least immorally, and thought the blogger should be sued. The fact that the trusted party stated they would not actively disclose the blogger’s identity makes me for one pause and think. Then, through the power of the blogosphere, other uncover the scheme because certain regular posters to the blog – posters who may be that trusted person – are not weighing in.

These thoughts are purely theoretical, but it makes you wonder…SD Realtor and SDRealtor, what do you think?????

[Trojan4Life]

Some interesting posts, some of which I think require a little more consideration.

SDNerd has an interesting theory that it is possible for a neighborhood’s value to be manipulated through the postings on a blog. That’s a real chin-scratcher there, and it makes me wonder.

Think about a theoretical blogger exhorting his fairly vast, regionally-focused readership to lowball bids on homes in targeted neighborhoods based upon the blogger’s desire to drive prices down in those neighborhoods to facilitate a purchase at a price they are comfortable with. Sounds a little like stock price manipulation, but virtually the same. Imagine the economic impact felt by those neighborhoods, and the anger those people would feel if that blogger in fact had that kind of impact. I know it’s a stretch, but it’s only a theory.

Then add into the mix that information about the purchase is disclosed to someone this blogger apparently trusts, because some relationships have been formed between posting individuals to the point where a trust bond was created. Imagine if that blogger disclosed to the person he trusted the way they got such a great deal, and the trusted party – acting in an ethical manner – said that the blogger may have acted illegally, unethically and at the very least immorally, and thought the blogger should be sued. The fact that the trusted party stated they would not actively disclose the blogger’s identity makes me for one pause and think. Then, through the power of the blogosphere, other uncover the scheme because certain regular posters to the blog – posters who may be that trusted person – are not weighing in.

These thoughts are purely theoretical, but it makes you wonder…SD Realtor and SDRealtor, what do you think?????

[Trojan4Life]

Some interesting posts, some of which I think require a little more consideration.

SDNerd has an interesting theory that it is possible for a neighborhood’s value to be manipulated through the postings on a blog. That’s a real chin-scratcher there, and it makes me wonder.

Think about a theoretical blogger exhorting his fairly vast, regionally-focused readership to lowball bids on homes in targeted neighborhoods based upon the blogger’s desire to drive prices down in those neighborhoods to facilitate a purchase at a price they are comfortable with. Sounds a little like stock price manipulation, but virtually the same. Imagine the economic impact felt by those neighborhoods, and the anger those people would feel if that blogger in fact had that kind of impact. I know it’s a stretch, but it’s only a theory.

Then add into the mix that information about the purchase is disclosed to someone this blogger apparently trusts, because some relationships have been formed between posting individuals to the point where a trust bond was created. Imagine if that blogger disclosed to the person he trusted the way they got such a great deal, and the trusted party – acting in an ethical manner – said that the blogger may have acted illegally, unethically and at the very least immorally, and thought the blogger should be sued. The fact that the trusted party stated they would not actively disclose the blogger’s identity makes me for one pause and think. Then, through the power of the blogosphere, other uncover the scheme because certain regular posters to the blog – posters who may be that trusted person – are not weighing in.

These thoughts are purely theoretical, but it makes you wonder…SD Realtor and SDRealtor, what do you think?????

[Trojan4Life]

Some interesting posts, some of which I think require a little more consideration.

SDNerd has an interesting theory that it is possible for a neighborhood’s value to be manipulated through the postings on a blog. That’s a real chin-scratcher there, and it makes me wonder.

Think about a theoretical blogger exhorting his fairly vast, regionally-focused readership to lowball bids on homes in targeted neighborhoods based upon the blogger’s desire to drive prices down in those neighborhoods to facilitate a purchase at a price they are comfortable with. Sounds a little like stock price manipulation, but virtually the same. Imagine the economic impact felt by those neighborhoods, and the anger those people would feel if that blogger in fact had that kind of impact. I know it’s a stretch, but it’s only a theory.

Then add into the mix that information about the purchase is disclosed to someone this blogger apparently trusts, because some relationships have been formed between posting individuals to the point where a trust bond was created. Imagine if that blogger disclosed to the person he trusted the way they got such a great deal, and the trusted party – acting in an ethical manner – said that the blogger may have acted illegally, unethically and at the very least immorally, and thought the blogger should be sued. The fact that the trusted party stated they would not actively disclose the blogger’s identity makes me for one pause and think. Then, through the power of the blogosphere, other uncover the scheme because certain regular posters to the blog – posters who may be that trusted person – are not weighing in.

These thoughts are purely theoretical, but it makes you wonder…SD Realtor and SDRealtor, what do you think?????

[SD Realtor]

Trojan I guess theoretically it is possible yet unlikely. Think about it the other way. My favorite example is the home around the corner from me in Scripps. I will not use the street name here but it is a type of wine with an R….Anyways I was enraged that some bobo bought it for what they paid last year. It was a flip. The home was purchased in the low 600’s and purchased for close to 800 maybe a bit more or less as I haven’t looked at the tax roll for awhile. The guy paid cash!!!

This was a TOTAL softball. This is what happens when buyers do not study the data or conversely the agent does not study the area right?

So let’s take your example. A blogger wants to buy a home in a particular subdivision so he invests alot of time and energy nuking the area…Could he succeed in actually lowering the comps? I guess it is arguable that he could but if the neighborhood was of decent quality and it was priced to sell the homes would sell. If I had a client looking at the neighborhood and they asked me why homes were not selling I would look at the data, not look at the blogs.

It is a tough call. Virtually all of my buyers ask me the same question:

What do you think of the price?

My answer is always the same. I think the price is to high and that it will depreciate in the future until we hit bottom.

So I don’t really think that the blogosphere has enough clout to manipulate real estate pricing. I think there are way to many savy people out there who would jump on inventory that fell prey to that.

*************************************************

I think that I fall on a different side of the coin with respect to posting public data. I know Rus and I have a bit different opinion there. Once upon a time a Carmel Valley home that I was involved with popped up on BMIT. I was the selling agent, represented the buyer, who had purchased the home from a private party who had purchased the home at trustee sale.

So my client got a smoking price on the deal and the home was flagged and highlighted on BMIT. I didn’t really even know until someone had actually discussed that home here on Piggington. So when I went to BMIT I put in a long post that actually stated the facts. I think JPINPB had initially brought up the post and I was pissed at first and then cooled down. I guess to someone on the outside it could look bad. With all of that said, even though there were ALOT of IDIOTIC statements and presumptions, there was nothing that would have been litigation worthy in the entire thread.

Think of it this way… how many times have there been posts on here about suspicious transactions? ALOT. most of them were harmless ignorance on the part of the posters but every so often one of them indeed rang true.

Anyways personally I am sorry to see BMIT go because I think the owner of the site is indeed a good guy. I do agree that there is an obligation to try to stick to the facts and avoid speculation and that is where things get quite difficult. Could a sophisticated scheme work with many people rather then one poster. I suppose.

[SD Realtor]

Trojan I guess theoretically it is possible yet unlikely. Think about it the other way. My favorite example is the home around the corner from me in Scripps. I will not use the street name here but it is a type of wine with an R….Anyways I was enraged that some bobo bought it for what they paid last year. It was a flip. The home was purchased in the low 600’s and purchased for close to 800 maybe a bit more or less as I haven’t looked at the tax roll for awhile. The guy paid cash!!!

This was a TOTAL softball. This is what happens when buyers do not study the data or conversely the agent does not study the area right?

So let’s take your example. A blogger wants to buy a home in a particular subdivision so he invests alot of time and energy nuking the area…Could he succeed in actually lowering the comps? I guess it is arguable that he could but if the neighborhood was of decent quality and it was priced to sell the homes would sell. If I had a client looking at the neighborhood and they asked me why homes were not selling I would look at the data, not look at the blogs.

It is a tough call. Virtually all of my buyers ask me the same question:

What do you think of the price?

My answer is always the same. I think the price is to high and that it will depreciate in the future until we hit bottom.

So I don’t really think that the blogosphere has enough clout to manipulate real estate pricing. I think there are way to many savy people out there who would jump on inventory that fell prey to that.

*************************************************

I think that I fall on a different side of the coin with respect to posting public data. I know Rus and I have a bit different opinion there. Once upon a time a Carmel Valley home that I was involved with popped up on BMIT. I was the selling agent, represented the buyer, who had purchased the home from a private party who had purchased the home at trustee sale.

So my client got a smoking price on the deal and the home was flagged and highlighted on BMIT. I didn’t really even know until someone had actually discussed that home here on Piggington. So when I went to BMIT I put in a long post that actually stated the facts. I think JPINPB had initially brought up the post and I was pissed at first and then cooled down. I guess to someone on the outside it could look bad. With all of that said, even though there were ALOT of IDIOTIC statements and presumptions, there was nothing that would have been litigation worthy in the entire thread.

Think of it this way… how many times have there been posts on here about suspicious transactions? ALOT. most of them were harmless ignorance on the part of the posters but every so often one of them indeed rang true.

Anyways personally I am sorry to see BMIT go because I think the owner of the site is indeed a good guy. I do agree that there is an obligation to try to stick to the facts and avoid speculation and that is where things get quite difficult. Could a sophisticated scheme work with many people rather then one poster. I suppose.

[SD Realtor]

Trojan I guess theoretically it is possible yet unlikely. Think about it the other way. My favorite example is the home around the corner from me in Scripps. I will not use the street name here but it is a type of wine with an R….Anyways I was enraged that some bobo bought it for what they paid last year. It was a flip. The home was purchased in the low 600’s and purchased for close to 800 maybe a bit more or less as I haven’t looked at the tax roll for awhile. The guy paid cash!!!

This was a TOTAL softball. This is what happens when buyers do not study the data or conversely the agent does not study the area right?

So let’s take your example. A blogger wants to buy a home in a particular subdivision so he invests alot of time and energy nuking the area…Could he succeed in actually lowering the comps? I guess it is arguable that he could but if the neighborhood was of decent quality and it was priced to sell the homes would sell. If I had a client looking at the neighborhood and they asked me why homes were not selling I would look at the data, not look at the blogs.

It is a tough call. Virtually all of my buyers ask me the same question:

What do you think of the price?

My answer is always the same. I think the price is to high and that it will depreciate in the future until we hit bottom.

So I don’t really think that the blogosphere has enough clout to manipulate real estate pricing. I think there are way to many savy people out there who would jump on inventory that fell prey to that.

*************************************************

I think that I fall on a different side of the coin with respect to posting public data. I know Rus and I have a bit different opinion there. Once upon a time a Carmel Valley home that I was involved with popped up on BMIT. I was the selling agent, represented the buyer, who had purchased the home from a private party who had purchased the home at trustee sale.

So my client got a smoking price on the deal and the home was flagged and highlighted on BMIT. I didn’t really even know until someone had actually discussed that home here on Piggington. So when I went to BMIT I put in a long post that actually stated the facts. I think JPINPB had initially brought up the post and I was pissed at first and then cooled down. I guess to someone on the outside it could look bad. With all of that said, even though there were ALOT of IDIOTIC statements and presumptions, there was nothing that would have been litigation worthy in the entire thread.

Think of it this way… how many times have there been posts on here about suspicious transactions? ALOT. most of them were harmless ignorance on the part of the posters but every so often one of them indeed rang true.

Anyways personally I am sorry to see BMIT go because I think the owner of the site is indeed a good guy. I do agree that there is an obligation to try to stick to the facts and avoid speculation and that is where things get quite difficult. Could a sophisticated scheme work with many people rather then one poster. I suppose.

[SD Realtor]

Trojan I guess theoretically it is possible yet unlikely. Think about it the other way. My favorite example is the home around the corner from me in Scripps. I will not use the street name here but it is a type of wine with an R….Anyways I was enraged that some bobo bought it for what they paid last year. It was a flip. The home was purchased in the low 600’s and purchased for close to 800 maybe a bit more or less as I haven’t looked at the tax roll for awhile. The guy paid cash!!!

This was a TOTAL softball. This is what happens when buyers do not study the data or conversely the agent does not study the area right?

So let’s take your example. A blogger wants to buy a home in a particular subdivision so he invests alot of time and energy nuking the area…Could he succeed in actually lowering the comps? I guess it is arguable that he could but if the neighborhood was of decent quality and it was priced to sell the homes would sell. If I had a client looking at the neighborhood and they asked me why homes were not selling I would look at the data, not look at the blogs.

It is a tough call. Virtually all of my buyers ask me the same question:

What do you think of the price?

My answer is always the same. I think the price is to high and that it will depreciate in the future until we hit bottom.

So I don’t really think that the blogosphere has enough clout to manipulate real estate pricing. I think there are way to many savy people out there who would jump on inventory that fell prey to that.

*************************************************

I think that I fall on a different side of the coin with respect to posting public data. I know Rus and I have a bit different opinion there. Once upon a time a Carmel Valley home that I was involved with popped up on BMIT. I was the selling agent, represented the buyer, who had purchased the home from a private party who had purchased the home at trustee sale.

So my client got a smoking price on the deal and the home was flagged and highlighted on BMIT. I didn’t really even know until someone had actually discussed that home here on Piggington. So when I went to BMIT I put in a long post that actually stated the facts. I think JPINPB had initially brought up the post and I was pissed at first and then cooled down. I guess to someone on the outside it could look bad. With all of that said, even though there were ALOT of IDIOTIC statements and presumptions, there was nothing that would have been litigation worthy in the entire thread.

Think of it this way… how many times have there been posts on here about suspicious transactions? ALOT. most of them were harmless ignorance on the part of the posters but every so often one of them indeed rang true.

Anyways personally I am sorry to see BMIT go because I think the owner of the site is indeed a good guy. I do agree that there is an obligation to try to stick to the facts and avoid speculation and that is where things get quite difficult. Could a sophisticated scheme work with many people rather then one poster. I suppose.

[SD Realtor]

Trojan I guess theoretically it is possible yet unlikely. Think about it the other way. My favorite example is the home around the corner from me in Scripps. I will not use the street name here but it is a type of wine with an R….Anyways I was enraged that some bobo bought it for what they paid last year. It was a flip. The home was purchased in the low 600’s and purchased for close to 800 maybe a bit more or less as I haven’t looked at the tax roll for awhile. The guy paid cash!!!

This was a TOTAL softball. This is what happens when buyers do not study the data or conversely the agent does not study the area right?

So let’s take your example. A blogger wants to buy a home in a particular subdivision so he invests alot of time and energy nuking the area…Could he succeed in actually lowering the comps? I guess it is arguable that he could but if the neighborhood was of decent quality and it was priced to sell the homes would sell. If I had a client looking at the neighborhood and they asked me why homes were not selling I would look at the data, not look at the blogs.

It is a tough call. Virtually all of my buyers ask me the same question:

What do you think of the price?

My answer is always the same. I think the price is to high and that it will depreciate in the future until we hit bottom.

So I don’t really think that the blogosphere has enough clout to manipulate real estate pricing. I think there are way to many savy people out there who would jump on inventory that fell prey to that.

*************************************************

I think that I fall on a different side of the coin with respect to posting public data. I know Rus and I have a bit different opinion there. Once upon a time a Carmel Valley home that I was involved with popped up on BMIT. I was the selling agent, represented the buyer, who had purchased the home from a private party who had purchased the home at trustee sale.

So my client got a smoking price on the deal and the home was flagged and highlighted on BMIT. I didn’t really even know until someone had actually discussed that home here on Piggington. So when I went to BMIT I put in a long post that actually stated the facts. I think JPINPB had initially brought up the post and I was pissed at first and then cooled down. I guess to someone on the outside it could look bad. With all of that said, even though there were ALOT of IDIOTIC statements and presumptions, there was nothing that would have been litigation worthy in the entire thread.

Think of it this way… how many times have there been posts on here about suspicious transactions? ALOT. most of them were harmless ignorance on the part of the posters but every so often one of them indeed rang true.

Anyways personally I am sorry to see BMIT go because I think the owner of the site is indeed a good guy. I do agree that there is an obligation to try to stick to the facts and avoid speculation and that is where things get quite difficult. Could a sophisticated scheme work with many people rather then one poster. I suppose.

[Allan from Fallbrook]

Trojan: Using your scenario as an example, it would appear that the blogger might potentially be guilty of inducement to fraud as well as collusion. The problem with that is this: Unlike a “pump and dump” scheme, the homeowners in question are under no obligation to accept the lowball offers and, even presupposing that the blogger in question commands that sort of vast readership, there would have to be enough individuals in that area willing to go and make offers.

On the face of it, it appears like a conspiracy of sorts, but it falls apart when you pay closer attention. However, and here you make a good point, if there was a third party who was aware of the conspiracy, well, that changes the calculus somewhat. It would certainly be unethical and immoral, but it’s doubtful that it would actually be illegal and, therefore, where is the threat to this blogger? He wouldn’t really be facing criminal and/or civil charges, so why worry?

[Allan from Fallbrook]

Trojan: Using your scenario as an example, it would appear that the blogger might potentially be guilty of inducement to fraud as well as collusion. The problem with that is this: Unlike a “pump and dump” scheme, the homeowners in question are under no obligation to accept the lowball offers and, even presupposing that the blogger in question commands that sort of vast readership, there would have to be enough individuals in that area willing to go and make offers.

On the face of it, it appears like a conspiracy of sorts, but it falls apart when you pay closer attention. However, and here you make a good point, if there was a third party who was aware of the conspiracy, well, that changes the calculus somewhat. It would certainly be unethical and immoral, but it’s doubtful that it would actually be illegal and, therefore, where is the threat to this blogger? He wouldn’t really be facing criminal and/or civil charges, so why worry?

[Allan from Fallbrook]

Trojan: Using your scenario as an example, it would appear that the blogger might potentially be guilty of inducement to fraud as well as collusion. The problem with that is this: Unlike a “pump and dump” scheme, the homeowners in question are under no obligation to accept the lowball offers and, even presupposing that the blogger in question commands that sort of vast readership, there would have to be enough individuals in that area willing to go and make offers.

On the face of it, it appears like a conspiracy of sorts, but it falls apart when you pay closer attention. However, and here you make a good point, if there was a third party who was aware of the conspiracy, well, that changes the calculus somewhat. It would certainly be unethical and immoral, but it’s doubtful that it would actually be illegal and, therefore, where is the threat to this blogger? He wouldn’t really be facing criminal and/or civil charges, so why worry?

[Allan from Fallbrook]

Trojan: Using your scenario as an example, it would appear that the blogger might potentially be guilty of inducement to fraud as well as collusion. The problem with that is this: Unlike a “pump and dump” scheme, the homeowners in question are under no obligation to accept the lowball offers and, even presupposing that the blogger in question commands that sort of vast readership, there would have to be enough individuals in that area willing to go and make offers.

On the face of it, it appears like a conspiracy of sorts, but it falls apart when you pay closer attention. However, and here you make a good point, if there was a third party who was aware of the conspiracy, well, that changes the calculus somewhat. It would certainly be unethical and immoral, but it’s doubtful that it would actually be illegal and, therefore, where is the threat to this blogger? He wouldn’t really be facing criminal and/or civil charges, so why worry?

[Author]

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