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OK, Now I'm REALLY Confused.

By Rock Earle

Real Estate Broker/Owner with Coldwell Banker ROX Realty

November 10, 2010 07:48 AM

Not just sorta confused. REALLY. TOTALLY. CONFUSED.

Every headline, blog, tweet and blast screams "home prices falling", "inventories growing", and "second wave/shadow inventory (pick one) coming".

And yet, the winning bids for the last twenty houses I've bid on at auction have blown right past mine. And not just by a little - BY A LOT. Right up to 90%+ of my retail estimate. And these are not - can't be - all owner-occupant homebuyers.

Who needs the Comedy Channel? Get yourself some popcorn and a soda, log on to auctionnetwork.com, and sit back and laugh!

Seriously, though: what's going on?

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Andrew Mooers | 207.532.6573

MOOERS REALTY - Houlton, ME

Northern Maine Real Estate-Aroostook County Broker

Not every headline, blog post does scream FSSR (foreclosure, short sale, reposession) because not every market is acting, behaving, correcting that way. Maine is 46th lowest for FSSR. Under 1 percent of our housing stock that is low cost, affordable in a safe area to raise your family is under water, messed up. Brokers, agents who repeat the media experts who zero in to the worse and stretch it to fit the entire country are guilty of shooting themselves in both feet. They do not help the industry and are not telling the truth for the entire country's situation. Why scare folks and why whine whine whine when there is always a market to capture way more than others in it wished you did. Positive, hard word, creative sells real estate. Do a better job than anyone else wearing the "R".

Nov 10, 2010 07:54 AM

Rock Earle

Coldwell Banker ROX Realty - Casa Grande, AZ

That's perfect, Andrew, and you are right. National headlines cannot possibly capture the nuances of our local markets, and it is our job to communicate that clear and LOUD. Thanks...

Nov 10, 2010 08:01 AM

Rebecca Nystrom

RE/MAX Renaissance - Phoenix, AZ

Are investors beating you out? That is mainly what we are seeing in the Phoenix metro area.

Nov 10, 2010 08:04 AM

Yes, and I'm an investor and know what doesn't work. Unless they are doing it all for a couple percentage points of profit, or prices are rising, or they are marooning innocent investors, I don't have an answer.

Nov 10, 2010 08:09 AM

John Pusa

Glendale, CA

Rock - Thank you for sharing a very good blog about the real estate market.

Nov 10, 2010 08:50 AM

Kirsten Lindquist

Pacific Union International - Sonoma, CA

Realtor - Sonoma Wine Country

Sales and volume are down in Sonoma County overall. Some pockets of increased sales...and the only micro-market here where prices have risen is in the town of Sonoma. Posted this today on October sales.

Nov 10, 2010 01:41 PM

OK, Now I'm REALLY Confused.

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