The cult of professional specialists

[njtosd]

sdrealtor –

I will remember in the future to instruct any real estate agent that I contract with to bring all potential buyers to my attention (and as you know the fiduciary duty of an agent includes a duty of obedience). I would like to be sure that all potential buyers are treated in a welcoming manner. Furthermore, I would appreciate it if you did not include your real estate fantasies in your posts. I’m sure there are lots of other places to let those feelings out. As an alternative, you could choose among hundreds of other less distasteful ways to express your feelings here.

bearishgurl –

Although I’m not in favor of anecdotes, here goes: We are currently selling our home on the east coast and received an offer after our listing agreement had expired and before we relisted (we had gotten kind of discouraged and had decided to put off relisting until the kids were back in school). We were much more willing to come down in price (and did come down more than we had originally planned to) since we didn’t have an agent’s fee to pay. The final steps of the negotiation here take place in the “attorney review” process, so our attorney is taking care of some of the jobs that would be done by an agent/broker in CA. So in this case, the buyer is getting a better deal than he would have otherwise because there is no listing agent involved.

[njtosd]

bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. His name is Steven Levitt, and is described in wikipedia as follows: Winner of the 2004 John Bates Clark Medal, he is currently the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago, director of the Becker Center on Chicago Price Theory at the University of Chicago Booth School of Business, and co-editor of the Journal of Political Economy published by the University of Chicago Press. He co-authored the best-selling book Freakonomics (2005) and its sequel Superfreakonomics (2009). Levitt was chosen as one of Time magazine’s “100 People Who Shape Our World” in 2006.[1]

What’s even more surprising is that he is in his early forties. He’s received a lot of attention for his work, even at U of C, where there is a (humorous) sign in the cafeteria indicating a special line for Nobel prize winners.

[njtosd]

bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. His name is Steven Levitt, and is described in wikipedia as follows: Winner of the 2004 John Bates Clark Medal, he is currently the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago, director of the Becker Center on Chicago Price Theory at the University of Chicago Booth School of Business, and co-editor of the Journal of Political Economy published by the University of Chicago Press. He co-authored the best-selling book Freakonomics (2005) and its sequel Superfreakonomics (2009). Levitt was chosen as one of Time magazine’s “100 People Who Shape Our World” in 2006.[1]

What’s even more surprising is that he is in his early forties. He’s received a lot of attention for his work, even at U of C, where there is a (humorous) sign in the cafeteria indicating a special line for Nobel prize winners.

[njtosd]

bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. His name is Steven Levitt, and is described in wikipedia as follows: Winner of the 2004 John Bates Clark Medal, he is currently the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago, director of the Becker Center on Chicago Price Theory at the University of Chicago Booth School of Business, and co-editor of the Journal of Political Economy published by the University of Chicago Press. He co-authored the best-selling book Freakonomics (2005) and its sequel Superfreakonomics (2009). Levitt was chosen as one of Time magazine’s “100 People Who Shape Our World” in 2006.[1]

What’s even more surprising is that he is in his early forties. He’s received a lot of attention for his work, even at U of C, where there is a (humorous) sign in the cafeteria indicating a special line for Nobel prize winners.

[njtosd]

bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. His name is Steven Levitt, and is described in wikipedia as follows: Winner of the 2004 John Bates Clark Medal, he is currently the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago, director of the Becker Center on Chicago Price Theory at the University of Chicago Booth School of Business, and co-editor of the Journal of Political Economy published by the University of Chicago Press. He co-authored the best-selling book Freakonomics (2005) and its sequel Superfreakonomics (2009). Levitt was chosen as one of Time magazine’s “100 People Who Shape Our World” in 2006.[1]

What’s even more surprising is that he is in his early forties. He’s received a lot of attention for his work, even at U of C, where there is a (humorous) sign in the cafeteria indicating a special line for Nobel prize winners.

[njtosd]

bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. His name is Steven Levitt, and is described in wikipedia as follows: Winner of the 2004 John Bates Clark Medal, he is currently the William B. Ogden Distinguished Service Professor of Economics at the University of Chicago, director of the Becker Center on Chicago Price Theory at the University of Chicago Booth School of Business, and co-editor of the Journal of Political Economy published by the University of Chicago Press. He co-authored the best-selling book Freakonomics (2005) and its sequel Superfreakonomics (2009). Levitt was chosen as one of Time magazine’s “100 People Who Shape Our World” in 2006.[1]

What’s even more surprising is that he is in his early forties. He’s received a lot of attention for his work, even at U of C, where there is a (humorous) sign in the cafeteria indicating a special line for Nobel prize winners.

[bearishgurl]

[quote=njtosd]bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. [/quote]

Dr. Levitt’s “CV” is interesting, njtosd. My words, “internationally known” are taken from drboom’s post on this thread. My earlier comment was directed to him.

[bearishgurl]

[quote=njtosd]bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. [/quote]

Dr. Levitt’s “CV” is interesting, njtosd. My words, “internationally known” are taken from drboom’s post on this thread. My earlier comment was directed to him.

[bearishgurl]

[quote=njtosd]bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. [/quote]

Dr. Levitt’s “CV” is interesting, njtosd. My words, “internationally known” are taken from drboom’s post on this thread. My earlier comment was directed to him.

[bearishgurl]

[quote=njtosd]bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. [/quote]

Dr. Levitt’s “CV” is interesting, njtosd. My words, “internationally known” are taken from drboom’s post on this thread. My earlier comment was directed to him.

[bearishgurl]

[quote=njtosd]bearishgurl-

Don’t know what the reason for the quotes around the words “internationally known” in your earlier post. [/quote]

Dr. Levitt’s “CV” is interesting, njtosd. My words, “internationally known” are taken from drboom’s post on this thread. My earlier comment was directed to him.

[drboom]

[quote=sdrealtor]DR B
To answer your question very few are underwater. They bought for the right reason and bought homes they will stay in long term.[/quote]

I appreciate the answers. So: 3 did well, 2 went bad, and 19 are … what, exactly?

If your buyers beat the market on all of those, congratulations. Really, you paid your way and then some.

But a quick look at the price vs. time graphs tells me something doesn’t sound right. Median price has gone down by at least 20% from the middle of the period we’re talking about, and 20 or so houses should broadly follow the market as a group. I gather you don’t play in the shallow end of the pool, so that’s a conservative $100k to $150k unrealized loss per house. They would have to be up 10% from, to pick an average, 2005 levels just to break even after costs. I’m skeptical, even with the past year’s price rises.

To put it another way, they could have saved $100k to $150k by sitting tight for a little longer. Your sales mix could skew this one way or the other, and it’s entirely possible you picked a full stable of winners.

Consolidating posts:

[quote]I have special insights to many things RE related but you are twisting things as we were talking about comps. What I have that you dont is access to databases that I pay for. If you were to spend a few thousand a year you could have the same information.[/quote]

I explained why the MLS doesn’t supply anything I need to mark my scorecard. I invited you to point out where I got it wrong (with numbered points for your refutation convenience), but you haven’t.

[quote]Also please dont confuse me with BG who is an entirely different viewpoint. She is not an active REa gent and is in the legal profession so she is overly sensitive to the intracies of the contract law.[/quote]

To put it mildly. She claimed to be active in both capacities in an earlier post, but now she has clarified her position. There are some other differences. You, for instance, actually read the English language without parsing it to a fare-thee-well and spamming word salad in response. I will refrain from lumping you together in the future. 🙂

[drboom]

[quote=sdrealtor]DR B
To answer your question very few are underwater. They bought for the right reason and bought homes they will stay in long term.[/quote]

I appreciate the answers. So: 3 did well, 2 went bad, and 19 are … what, exactly?

If your buyers beat the market on all of those, congratulations. Really, you paid your way and then some.

But a quick look at the price vs. time graphs tells me something doesn’t sound right. Median price has gone down by at least 20% from the middle of the period we’re talking about, and 20 or so houses should broadly follow the market as a group. I gather you don’t play in the shallow end of the pool, so that’s a conservative $100k to $150k unrealized loss per house. They would have to be up 10% from, to pick an average, 2005 levels just to break even after costs. I’m skeptical, even with the past year’s price rises.

To put it another way, they could have saved $100k to $150k by sitting tight for a little longer. Your sales mix could skew this one way or the other, and it’s entirely possible you picked a full stable of winners.

Consolidating posts:

[quote]I have special insights to many things RE related but you are twisting things as we were talking about comps. What I have that you dont is access to databases that I pay for. If you were to spend a few thousand a year you could have the same information.[/quote]

I explained why the MLS doesn’t supply anything I need to mark my scorecard. I invited you to point out where I got it wrong (with numbered points for your refutation convenience), but you haven’t.

[quote]Also please dont confuse me with BG who is an entirely different viewpoint. She is not an active REa gent and is in the legal profession so she is overly sensitive to the intracies of the contract law.[/quote]

To put it mildly. She claimed to be active in both capacities in an earlier post, but now she has clarified her position. There are some other differences. You, for instance, actually read the English language without parsing it to a fare-thee-well and spamming word salad in response. I will refrain from lumping you together in the future. 🙂

[drboom]

[quote=sdrealtor]DR B
To answer your question very few are underwater. They bought for the right reason and bought homes they will stay in long term.[/quote]

I appreciate the answers. So: 3 did well, 2 went bad, and 19 are … what, exactly?

If your buyers beat the market on all of those, congratulations. Really, you paid your way and then some.

But a quick look at the price vs. time graphs tells me something doesn’t sound right. Median price has gone down by at least 20% from the middle of the period we’re talking about, and 20 or so houses should broadly follow the market as a group. I gather you don’t play in the shallow end of the pool, so that’s a conservative $100k to $150k unrealized loss per house. They would have to be up 10% from, to pick an average, 2005 levels just to break even after costs. I’m skeptical, even with the past year’s price rises.

To put it another way, they could have saved $100k to $150k by sitting tight for a little longer. Your sales mix could skew this one way or the other, and it’s entirely possible you picked a full stable of winners.

Consolidating posts:

[quote]I have special insights to many things RE related but you are twisting things as we were talking about comps. What I have that you dont is access to databases that I pay for. If you were to spend a few thousand a year you could have the same information.[/quote]

I explained why the MLS doesn’t supply anything I need to mark my scorecard. I invited you to point out where I got it wrong (with numbered points for your refutation convenience), but you haven’t.

[quote]Also please dont confuse me with BG who is an entirely different viewpoint. She is not an active REa gent and is in the legal profession so she is overly sensitive to the intracies of the contract law.[/quote]

To put it mildly. She claimed to be active in both capacities in an earlier post, but now she has clarified her position. There are some other differences. You, for instance, actually read the English language without parsing it to a fare-thee-well and spamming word salad in response. I will refrain from lumping you together in the future. 🙂

[drboom]

[quote=sdrealtor]DR B
To answer your question very few are underwater. They bought for the right reason and bought homes they will stay in long term.[/quote]

I appreciate the answers. So: 3 did well, 2 went bad, and 19 are … what, exactly?

If your buyers beat the market on all of those, congratulations. Really, you paid your way and then some.

But a quick look at the price vs. time graphs tells me something doesn’t sound right. Median price has gone down by at least 20% from the middle of the period we’re talking about, and 20 or so houses should broadly follow the market as a group. I gather you don’t play in the shallow end of the pool, so that’s a conservative $100k to $150k unrealized loss per house. They would have to be up 10% from, to pick an average, 2005 levels just to break even after costs. I’m skeptical, even with the past year’s price rises.

To put it another way, they could have saved $100k to $150k by sitting tight for a little longer. Your sales mix could skew this one way or the other, and it’s entirely possible you picked a full stable of winners.

Consolidating posts:

[quote]I have special insights to many things RE related but you are twisting things as we were talking about comps. What I have that you dont is access to databases that I pay for. If you were to spend a few thousand a year you could have the same information.[/quote]

I explained why the MLS doesn’t supply anything I need to mark my scorecard. I invited you to point out where I got it wrong (with numbered points for your refutation convenience), but you haven’t.

[quote]Also please dont confuse me with BG who is an entirely different viewpoint. She is not an active REa gent and is in the legal profession so she is overly sensitive to the intracies of the contract law.[/quote]

To put it mildly. She claimed to be active in both capacities in an earlier post, but now she has clarified her position. There are some other differences. You, for instance, actually read the English language without parsing it to a fare-thee-well and spamming word salad in response. I will refrain from lumping you together in the future. 🙂

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