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powayseller
ParticipantDonna, I’m not debating points of view. I am asking whether she was uneducated (uninformed, lacking knowledge) or unethical (misleading) in her statements which are factually incorrect.
She states that increasing population is the reason behind high home prices. Fact: our population is decreasing. The Census Bureau report showed San Diegans are leaving San Diego in large numbers for the first time in a decade. This was on the front page of the Union Tribune a couple weeks ago.
She also states that our geography limits new construction, so this drives up prices. However, this is false. Builders are building like crazy, and there is plenty of land for them to do so. As far as land-locked: prices in Phoenix and Las Vegas shot through the roof and they are not land locked. So housing prices have nothing to do with being landlocked. Japan actually is land locked, yet their prices have fallen for 11 years.
As far as my situation, I sold my house because of the housing bubble. I am not investing in real estate, because at this time it is a rapidly depreciating asset. We took our profits, and invested them in a 4 month CD earning 4.75% interest.
May I suggest that you and Rima read the Bubble Primer. I don’t think you or Rima have to enjoy reading, but salespeople must have basic knowledge of their products and the environment in which they compete. They also must be honest in their marketing.
What Rima has done in her marketing materials is false and misleading representation. I heard on the radio recently some NAR ads about high realtor morals. Part of the obligation a realtor has, if they do have morals, is to give accurate information.
Perhaps she was uneducated about the facts. Your defense of her makes her sound like a nice lady. She didn’t know better, but now she does. Now she has the responsibility of making a retraction, so no further damage is done, and so she can uphold the high moral oath of the NAR. If I were embarassed like this in my profession, I would make a quick retraction. I also suggest she asks for proofreading of her marketing materials. However, in professional and business communication, and marketing materials, one must take more care in how one presents oneself (grammar and accuracy of facts).
I stand proud by my original post. But my question has been answered.
ParticipantRead the Bubble Primer, and extrapolate the graph on per capita income/median price.
ParticipantDona, Rima is fortunate to have a friend like you. I am not picking on her as a person. She may be very sweet, happy, optimistic, and all that. But as a professional, she is lacking. She needs to study a few articles about the economy before she writes more articles, and ask someone to proofread her reports. My question about her report stands: is she uneducated or unethical?
As far as Bob, he made no claims. He crunched a bunch of MLS data. As far as I know, he is the only realtor around here with the statistical know-how to do this. Most realtors lack basic math concepts, so they are not capable of such a feat. I found Bob’s forward-looking reports very helpful in navigating the market. He did not give any opinions, such as saying we are landlocked or prices will only go up. He only gave an Excel analysis of MLS data.
ParticipantThe purpose of contacting the realtor,is that he is the agent for the buyer. The realtor should be able to tell you the buyer’s plans. In the absence of the realtor, just call the buyers yourself. I called and spoke with my buyers/sellers for my last transactions, when I was no longer intimidated by realtors who told me not to contact the buyer/seller.
In my last sale, the buyers’ agent told me not to contact the buyers anymore. I called my buyers and told them I would adhere to this only if they had made the request. They were surprised, and said they had not asked me to stop calling. I think the buyers’ agent was embarassed, because I called my buyers to clear up some wrong information she presented about the septic tanks. I was furious with this agent, and I told her she had no business telling me to whom I can talk. I was yelling at her for about 2 minutes.
Realtors like to be in control and feel powerful. That’s the only reason they would prevent buyers and sellers from interacting. Other times, they negotiate when buyers and sellers lose their cool and argue over repairs or other issues.
ParticipantThis is a great question to ponder.
I think that it’s mainly lower income people who are hurt by gas prices. My brother told me today that a poll indicated 2/3 of Americans are midly to seriously affected by higher gas prices. Couple this with record high mortgage payments, property taxes, and doubled minimum credit card payments, and I think it’s obvious that American’s are 1/2 paycheck away from falling off a cliff.
But people don’t complain about housing, because housing is a choice. You can choose to buy, choose to rent. You cannot choose whether to buy gas or hydrogen or take mass transit. You’re basically stuck with paying the high gas prices.
Second, when you pay high prices for housing, you think you’re building equity. So people are not resentful of paying for a house. Gas purchases benefit oil companies.
ParticipantMy curiosity would have me contacting the escrow company to inquire when they’re scheduling the buyer to come in to sign docs. If they can’t reach the buyer, I would call the buyer and find out his plans. Then, I would decide if I need an attorney.
It’s actually legal for buyers and sellers to talk to each other, although realtors try to convince you that it’s not.
ParticipantI will definitely go. My husband may go also. There will be a question and answer session. Hey, we could all meet for lunch while there?
ParticipantMy next loan will be a 15-yr mortgage, and that’s the product I had in Phoenix, before we were priced out of that product in San Diego. At some point, a house should be paid off. At retirement at the latest. How can a 50yr old get a 30 yr mortgage? Do they want to work to age 80 to pay it? Or do they think they’ll sell it and downsize? If the latter, they are counting on appreciation to make equity. You build equity by making payments. Oh, I forgot – paying and saving is the “old way” of finance. The modern way is to charge everything, even the house.
ParticipantI read this in Sell Now – outlying areas are hit hardest. Now with gas so high, people who escaped high housing in the city, cannot afford the gas to get cheaper housing in Ramona. The most desirable areas will be least affected. So if Ramona loses 50-60%%, coastal Carlsbad or hot neighborhoods lose 40-45%?
ParticipantI agree. Poway is like living in heaven, except it gets in the high 90s in the summer, and you need A/C.
ParticipantI stand by my post. A professional needs to proofread their marketing materials, and not make material misrepresentation. I didn’t notice other realtors writing about land shortage or overpopulation. I was making fun of her lack of knowledge in a field where she is a salesperson, and also her indifference to good writing. If I were writing marketing material in farsi, I would ask a native to proofread it. Her claims about land shortage indicate her complete lack of understanding of real estate market forces. We’ve seen even in Japan, which is landlocked, prices can tumble, and even in Phoenix, which is desert as far as the eye can see, has seen huge price runups. We’ve had a population decline in San Diego. If i were writing marketing materials, I would verify the information first. But hey, you don’t need much education to be a realtor, so you get people like Rima…
As far as healthy exchange of ideas, I’m on the same page with that.
ParticipantLiving near the beach guarantees lost of overcast days. That’s why I prefer living inland. I don’t like cold weather. Maybe I need more body fat.
Also a Q: isn’t FL full of mosquitos? I love not dealing with the flies and mosquitoes (spelling?).
If you live in the suburbs, you’re insulated from crime. I don’t even know the last time we had anything but a minor theft or traffic violation in Poway. I love living here – lots of sun, low crime, open space, and hardly any traffic due to building restrictions put in place decades ago. Come on to Poway, y’all.
ParticipantFunny 🙂
ParticipantJim, interesting perspective on the rise in inventory. Could it really go that high? I don’t agree about San Diego having the best schools and infrastructure. CA is in the bottom 7 of all states in per capita student spending. Our freeways are overcrowded, and our beaches are so polluted, you’re cautioned against swimming at several on a given day. Our airport is too small, and we lack leadership to decide where to expand. The corruption at City Hall has led the city to be near bankruptcy.
sduuude, gentlemen don’t belittle others.
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