Call Broker Bryant for the truth!!! 863 438 9003 

Hi folks. I wrote a post last week titled "Now is a GREAT time to buy Real Estate! Or is it?" In that post I was pointing out how our local board(and now FAR) are asking us to advertise "Now is a great time to buy Real Estate." My thoughts were and are that this is actually being less than honest and I do not agree with this type of advertising. Pop over and read the post if you haven't already.

Anyway, I've had quite a few consumers who have read and left their opinions on that post. Here are their responses: (the comments have been edited for length only).
******************

FROM STAN:

Anything the NAR says now doesn't make any difference in the consumer's mind as they have looked like fools for the past couple of years. With an approval rating on par with Congress, there's little room for any downside movement. Let's see....they said the market was going to bottom out and begin another upward movement....when was that? LOL Then, it's the end of '08 and now it's '09 and in six months, it will be '10.

You just keep telling the truth and you'll continue to do just fine. For ANYONE to say it's a great, or even good time to buy in FL is blowing smoke. Patient, careful buyers will know when it's the right time to buy and not based on any slogan by some trade organization. The same people who said it was a great time to buy this time last year, overpaid by how much??...10%, 20%, or more in some markets?

The only thing more laughable than "Buy Now" is "It's different here". After reading the market numbers for some of the markets represented in the comments, who are they trying to convince...clients or themselves?

FROM WAR EAGLE:

Thanks for displaying a beacon of conscience in a turbulent market. Please know that your honesty is what people are paying you for. Buyers/Sellers user Realtors (R) because they need advice from someone they can trust. For most people, buying a home is the most significant expenditure that they will make in their lifetime. The idea that their Realtor(R) would have "money in their pocket" at that time, versus the well-being of their client is appalling. In all honesty, your profession is due a massive shake-up, and when it is all said and done, those that have had integrity will leave with their reputation intact and will not have to compete with all the greedy johnny-come-latelys for listings. Again, thanks for the honesty.

FROM DAVID:

As someone who is not part of the industry, I can tell you that I would NEVER use an agent who parroted that kind of garbage either in an ad or in person. Really, it would be equivalent to you saying "I am either an idiot or a con artist, and I'm hoping you are dumb enough to believe this transparent propaganda. Please hire me."

If you have built your business on honesty and trust, now is not the time to abandon that policy. The era of the Huckster Realtor is coming to a crashing halt. In a few years, with any luck, the only real estate agents left will be those who have distanced themselves from the NAR and its self-serving hype, and who have earned the trust of their customers.

FROM WEARY CONSUMER:

Mr. Tutas - I applaud and appreciate your integrity. Stand by for something less pleasant for others: Regrettably, far too many agents are blind to the circumstances around them. A famous quote says "It's hard to get a man to understand something when his job depends on him not understanding it".

This is the current case with RE. QUIT CALLING BOTTOMS in the market. You are destroying your credibility as professionals. What if you are wrong? So you get the sale, you will be thought of as a swindler forever.

I am a high 700's FICO no-debt, non-contingent buyer with cash in the bank. And every time at an open house when some agent tries to tell me it's a great time to buy, I feel insulted. As if most agents would ever tell you that it is a bad time. I've met a few, but not many.

I DO PLAN TO BUY. I am not waiting for the bottom. But I am sick of these agents insulting my intelligence with their fast-talking sales hype. I know there are good realtors out there. I am working with one. But the rest of you better get straight with the facts and quit blaming the media. Most of the gullible buyers are locked into an underwater house.

Now, you have the people like me. We didn't get in this position of power by believing sound-bite advice. I sincerely apologize to the conscientious and competent agents who truly have their client's interests as a priority. But the rest? Your world is changing, and you need to realize it fast.

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

What do think about that? I want to point out that I'm not disputing whether or not "It's a GREAT time to buy Real Estate". It may very well be in some areas. I just feel that advertising this way damages our credibility. The consumers above have expressed this very clearly. And I agree. Do you?

By the way, there are more consumer comments on my previous post. Go check them out......and listen!

Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Agent

Copyright © 2007 Broker Bryant's Real Estate Ramblings| All Rights Reserved

 

71 Comments on "It's a great time to buy Real Estate!" The consumer responds. Are you listening?

JAN
29
2008
408,827 Points 72 Featured Posts Outside Blog

Reserved Parking For "The Lovely Wife"...TLW...ROAR!

Blog Boy...

I am so glad you decided to post the comments. They are insightful and give all of us clear understanding of something we should already know...

The Consumer is not stupid and they see that kind of advertising for what it is...

It reeks of Realtors banning together to manipulate the market place. When we are asked to do that, and do it, the Consumer is correct when they accuse our industry of manipulating the market.

Personally...I want nothing to do with that CRAP :)  

TLW...ROAR!

3:53pm • #1
161,585 Points 7 Featured Posts Outside Blog
I am with you on the importance of candor within our industry - we have lost credibility because we have been blinded by "PMA" (positive mental attitude) and our delusion as a whole is scary.  Being honest is good, it's fresh and it's a marker of being a professional.  Thank you for setting yourself apart. 
3:56pm • #2
I agree.  Keep your integrity.   My favorite ads are the ones that say "buy this house with no money down".
4:02pm • #3
Thank you for sharing this.  This is a huge eye-opener for those who preach "Never Say Anything Negative". I know I prefer the truth, so why would my client want anything else. 
4:08pm • #4
409,415 Points 74 Featured Posts Outside Blog

BB,

First of all..everyone has their own opinions...i just sat through a 4 hour meeting with the founder of Remax...he said it is a great time to buy if you plan on living in the property and for investors as well as long as they can hold for a number of years...if flipping is what you are thinking..that's a dangerous thing. He also said 2008 will be as bad as 2007 but the bottom has not fully come yet...we can't predict the market...it moves too fast for us. We could be wrong either way. But we don't decide what people are willing to pay...the buyers are...what they feel they are willing to negotiate between them and the sellers. The point is how much more will it go down and how much more of a difference will people see if  they-wait longer. It's just like the stock market.

4:15pm • #5
157,973 Points 3 Featured Posts Outside Blog
Hear, Hear Bryant!  I have been chastised for posting my MLS's results showing a 50% drop in sales.  A couple of agents who read my blog complained to my broker.  Heads in the sand??
4:15pm • #6
265,848 Points 59 Featured Posts Outside Blog
I concur B.B.  And I love that you have included consumer feedback in the post, wish this was done more often and I would love more feedback in comments as well.
4:36pm • #7
408,827 Points 72 Featured Posts Outside Blog

Folks...

There is a lot of Consumer commenting on AR...

What I see is that folks (Member's) who comment on a Blog never go back...

Therefore never seeing what the Consumer has to say on a topic...

Such a shame to see these kinds of comments just laying around with no one to read them except a Blog author and me of course :)

TLW...ROAR!

4:49pm • #8
265,848 Points 59 Featured Posts Outside Blog
TLW - I haven't ran into that as much as I'd like but you are correct.  I'd love to see more of that interaction between consumers and all of the AR community.
4:53pm • #9
229,417 Points 22 Featured Posts Localism Sponsor Outside Blog
I think making blanket statements like the "it's a great time to buy" are reckless and without a doubt hurt our credibility.  Heck, those statements hurt NAR's credibility in my eyes.  I think a positive attitude is great, but not at the expense of reality.  Some segments of some markets are doing good... some markets are doing good as a whole, but to say it's a great time to buy... period, is just more propaganda when it's least needed. 
4:59pm • #10
408,827 Points 72 Featured Posts Outside Blog

Okay...

Now someone needs to write a really good post about Positive Thinking versus Reality...

Who's gonna call it? Let us know so we can all come comment and give our opinion on that topic.

Personally...I have like a gazillion smart arse remarks about the push for positive when it's nothing but a load of CRAP most of the time :)

OH...My comments on this post come without points...Or do they? :)

P.S. Sorry BB...You know how I feel about these topics. They 'make' me want to mouth off :) 

TLW....ROAR!  

5:13pm • #11
841,790 Points 213 Featured Posts Localism Sponsor Outside Blog Hit Router
That NAR national ad touting real estate as a good investment has driven me insane from the day I first read it. 
6:31pm • #12
168,112 Points 6 Featured Posts Outside Blog
BB,  Great comments.  It just shows that integrity and honestly will stand head and heels above anything else.  I know that there are consumers coming to AR because I see that all the time via mybloglog.  But I've not really seen too many comments from such. 
6:38pm • #13
229,417 Points 22 Featured Posts Localism Sponsor Outside Blog

Oh, heck TLW, I'll call that one. :)  I'm in the mood to give the sunshine pushers a swift kick in the.... tail.

 

6:48pm • #14
323,029 Points 40 Featured Posts Outside Blog
Bryant--Remember that real estate is local and Florida is one of the states with the highest levels of foreclosures (rated #2 in foreclosures behind Nevada according to new numbers released by Realtytrac) so maybe your market is different than some others. I don't think NAR's message is completely incorrect but it is just too short. I just posted a blog last week that it is a good time to buy but with a dose of reality. You have to be able to afford to buy a home. Interest rates are down and inventory is amazing....At least in Minnesota. And if a person is going to buy, it is not the time to go out without representation. A good buyer's representative can negotiate an offer that will work out for the best interests of all parties involved. I don't think I am looking at the market through rose colored glasses. I am ready to assist those who choose to venture into the market to get a good deal.
7:04pm • #15
186,746 Points 28 Featured Posts Outside Blog
If the NAR membership didn't have so many members who don't know what the heck they're doing...then a better message might emerge. But that's a different topic isn't it?  My market is very fortunate-slow and steady-and I can support my assertions with statistics-but it still doesn't help me when folks elsewhere break out their crystal balls.  Stan has to be one of your longest, most loyal readers!
8:10pm • #16
253,436 Points 1 Featured Post Outside Blog

I think it is a great time to buy as long as you buy SMART and have a PLAN on what you are doing with your property.  Mortgage rates are very low (I am actually refinancing 4 of my rentals right now because of these rates). Anybody that buys and pays anywhere near full price is not buying smart, but people buying well below full price are getting some awesome deals.

Just as a side note, I emailed to my customes today some 756 properties in Orange, Seminole, Osceola, and Volusia Counties - all properties indicate they are owned by a bank.  That is a scary number, 756. Can you say "motivated seller."

8:56pm • #17
427,432 Points 17 Featured Posts Outside Blog
So I wonder how they feel about FAR pushing Amendment 1.
9:59pm • #18
173,470 Points 17 Featured Posts Localism Sponsor Outside Blog

Bryant,

Looks like honesty is appreciated by consumers.  I have to say I have seen a few that did not like honesty and instead preferred a shpeel a mile long, but on the whole, even if you lose business telling the truth, it comes back around in other ways.

10:58pm • #19
10 Featured Posts Localism Sponsor
BB, Today was Another Day with Sunshine, Warmth, being with good friends, meeting new people, and doing what I like doing most. If I can continue working with people till I retire, I will be very happy.  The market is what the market is.  Let make the best of it.  AJ 
11:06pm • #20
JAN
30
2008
233,860 Points 3 Featured Posts

I think that there are great buys in all communities, as there are great buys in all stock markets. The key is to make an educated decision.

I love the guys that say we are not at the bottom yet, Tell me exactly where the bottom is. When your that good at predicting the bottom of the real estate market, please move on to stocks, bonds, commodities, and lets throw in the winner of the 2009 Super-bowl.

Real Estate is meant to be like a bank not an ATM. One problem was that many thought their home was an actual ATM and repayment of the withdrawals would continue to come from inflated prices.

Values have dropped, Interest rates are at an all time low. Real estate is a long term investment.

My advise: BUY BUY BUY BUY BUY BUY SMART. Get out there, make an informed decision and BUY.

We all agree we should sell when everyones buying and buy when every ones selling, until the event actually happens. Then we justify why we didn't take advantage of the opportunity. We talk ourselves out of it by saying "I'm waiting for the market to drop further, or I'm waiting for interest rates to drop one more time.

Pigs get fat, Hogs get slaughtered. Don't be a pig

 

3:38am • #21
365,896 Points 95 Featured Posts Localism Sponsor Outside Blog

Bryant-you know...I had a nice conversation with a gentlemen..and he asked me point blank...Is it a good time to buy?...and I stated if you don't have to sell first.   I will say I stand by that....there are many deals nationwide...and if the buyer can afford to buy it and hold it and make a good sound decision...yes its always a good time to buy....I would rather see a person paying a mortgage than rent.

In our area...prices went through the roof just like so many other places in the US...in my mind it was ridiculous...and most often what comes up must come down...stabilization..

So if you want to flip a property no I don't think it's a great time to buy...if have a property to sell first...no it's not great time to buy....but if you want to own a piece of Florida and reside there...yup to me it is a great time to buy..

As far as NAR...I don't take offense...I don't take it personally..,.it's marketing...just like every other industry...I have always called that propaganda...kinda like real estate offices..telling you why they are the best to join or that agent self promoting...

No the consumers are not idiots....there were many who led by the wrong people.  Consumers are smarter than ever and now they have to be....why so many burned.

New mortgage guidelines...will in fact...protect more consumers and make it harder to get loans. no 100%  financing anymore in certain zip codes....plus others loan changes...........so for those ready to get a good deal in 2008...get ready... If you can even qualify for a loan in 2008.....it will in fact be a great time to buy.

Now marketing bottoming out???????  again what goes up must come down....stabilization...

 

5:19am • #22
141,013 Points 14 Featured Posts Localism Sponsor Outside Blog
BB, good for you- and thank you for sharing this.  With all of the rah-rah efforts being encouraged, it's nice to see that people appreciate well presented common sense backed up with facts.  While I'm not surprised, I hope that companies offering a "yipee" attitude will tailor it to reality- it's very obvious to the public when a Realtor is blowing smoke.  What's scary is if the Realtor actually buys into the notion that it's "all attitude", when the reality is, it's all market conditions- certainly for the client.
6:22am • #23
409,415 Points 74 Featured Posts Outside Blog

Consumers yell at us when they lose money. They love us when they make money. It is hard for us as Realtors(R) to predict the future and certainly the market..if we could assure the market then we would all be millionaires. I always tell them that I only know what I think will happen based on the research we do. I do not have a crystal ball or am I a magician. As a consumer myself having bought a few properties for investment and or my own primary residence...speculating is a dangerous thing during any time but you better understand that if it was that easy there wouldn't be a loss or gain. Just like the stock market.

Our opinions are trusted but there is no way I can or anyone else can predict the market. The only thing that differs than the stock market is our market is less volatile and doesn't change over night...a stock could go down so much over night but real Estate is different.

6:26am • #24
165,557 Points
BB- It seems that everyone has an expert opinion (there own).  Whether it's about appreciation or depreciation we each seem to believe whatever is our OWN opinion.
6:39am • #25
167,315 Points 12 Featured Posts Outside Blog
Bryant, Another Awesome post ..oops maybe that is why it gets featured..(hint hint hint people quality is what gets featured)
6:45am • #26
614,723 Points 244 Featured Posts Localism Sponsor Outside Blog

Good morning everyone. I have to head out and take a listing but just wanted to pop in real quick and thank you for stopping by. I do want to point out though that this post is really not about whether or not it's a good time to buy, it's about the "message" and the way we advertise. I just feel our association is missing badly with this ad campaign.

I guess having said that, I have actually complied to their request by placing the "It's a great time to buy real estate" phrase in this post and my other post on the same topic. In fact if you do a Google search with that phrase this post is in the 6th position!!!! So I guess their campaign is working:)

7:39am • #27
279,678 Points 29 Featured Posts Localism Sponsor Outside Blog
While I honestly do think it is a good time to buy in my area, it is truly an eye-opener to read this comments and a rare opportunity for us to hear directly and honestly from the consumer.  Thanks for sharing!
7:39am • #28
436,437 Points 47 Featured Posts Outside Blog
Bryant - I agree with you big time on this one. It has been a real pet peeve of mine in reading blogs here that discuss much of what your post is about. Telling the truth! There are so that are saying it is a good time to buy when clearly it is not. I know this is not the case everywhere as there are some markets that are doing just fine. The majority are not. If your a good Realtor working in the market you should have at least a "feel" for the way things are headed. The 1st guy in your post hit the nail on the head. It is really silly to say it is a great time to buy when you know dam well the market could easily be down another 5% in six months.
7:39am • #29
226,726 Points 29 Featured Posts Localism Sponsor Outside Blog

BB - consumer comments here are super. In our market it is a good time to buy... because some properties are priced right. But not all of them. Truth is most are not. Yet 34% of our '07 sales were quick, and they were priced on average 5% lower than all others from the get go. Homes priced in that range are good deals here in this resort market.

Your post here makes me want to make "buy now" much more clear and precise to our public, which means this one is post inspiring. There is always this little list to the right of me, it's got about 30 post ideas that we want to do, and this just got added to the first few we're working on next.

cheers 

8:26am • #30

From Leigh: "Stan has to be one of your longest, most loyal readers!"

Yeah, I stumbled across BB's blog last year and he's been stuck with me ever since.  LOL  It's funny because most of what BB's blogs about is what I've experienced this past year during my house buying adventure.

I get on the NAR's case pretty good because I don't like it when they "p" on my leg and try and convince me it's raining.  Most long term professional Realtors seem to have a similar message....if buying a house now meets your needs, let's move forward with a sound buying strategy, all the while, the NAR's message at housingmarketfacts.com is the quite different (Check out the commercials).

I can envision: 

Buyer: "I saw your commercials on TV and I want to get in on this house as an investment thing."

Realtor: "Those aren't my commercials and we don't have a crystal ball."

Buyer: "You are a Realtor and the NAR sez you do and I want to make sure I get the same return."

Realtor: "But......"

.....and you guys have to pay for that kind of stuff with your dues?  Being honest is the cornerstone of a successful business, but honesty, by itself, doesn't feed the bulldog, so how to you overcome the garbage the NAR shovels?

Stan
8:53am • #31
1 Featured Post
It is interesting to ponder this thought, because I think it goes to show that real estate is local.  I would say in my area it is a good time to buy, especially compared to the last 3 years.  But without my crystal ball, I can't tell if 2009 will be better.  As long as the message is clear to the consumer, it doesn't matter.
9:11am • #32
I appreciate what these consumers had to say but I think whether it's a good time to buy or not largely depends o the market area.  As for North Georgia, it is a good time to buy and if I didn't believe that, I wouldn't say so.  There will be quite a few people who feel like it's not a good time to buy kicking themselves later on.  No one can predict the bottom or when to get in or out of a market and the same goes for real estate.  I've bought and sold real estate for over 35 years and there has never been a bad time to buy it.  Every parcel or home that  I have ever purchased has paid off better than anything else I've invested in.  Real estate is a long term investment and that is what has been forgotten in the recent boom years.  I pride myself on honesty and doing the very best for my client going above and beyond more often than not at quite a personal expense at times.   
Donna Yates, North Georgia Blue Ridge Mountains
9:21am • #33
489,507 Points 84 Featured Posts Localism Sponsor Outside Blog Hit Router

You do have a great way making us all think a little deeper.

9:21am • #34
489,507 Points 84 Featured Posts Localism Sponsor Outside Blog Hit Router

You do have a great way making us all think a little deeper.

9:22am • #35
224,919 Points 1 Featured Post
People are finally realizing that this is the perfect buyer's market - heaven knows it took some of them long enough!
9:32am • #36
282,277 Points 42 Featured Posts Localism Sponsor Outside Blog
I totally agree with TLW.  We have to call it the way it is.  There are some good deals out there, only the buyer knows when the time is right for them. 
9:38am • #37
593,252 Points 34 Featured Posts Localism Sponsor Outside Blog Hit Router

Every month when I do my market report for Gwinnett County, GA, I always remind the readers that the only way we can look at the market is in the rearview mirror.  In fact, calling a bottom of the market is in the WAY rearview mirror.  We won't know that the market bottomed until a few months later... after confirming that the market was going up... or years later if there is a double bottom. 

We can guess... but, calling a bottom is a recipe for failure... and the NAR needs to stop trying to call the bottom next month. 

9:47am • #38
Ah, to have the courage of one's convictions. A debt of gratitude to you, sir. Now if you'll excuse me, there's something I have to do. Thanks for the inspiration.
9:59am • #39
A well informed buyer working with a loyal, educated agent can make wise investments during this market.  How many people will we speak to in the future who will say..."I wish I had not waited to buy"? Once the media says the market has turned many will have already left money on the table.
June
10:32am • #40
148,813 Points 89 Featured Posts Localism Sponsor Outside Blog

BB: You and I always seem to think alike. This goes back to what both of us have been telling everyone here on AR: Consumers are not just reading Localism, they are reading our featured page! You obviously moved these people enough to have such fabulous comments....thank goodness you shared these with us.

It is so easy to get encased in the AR bubble, but what we really should be seeking is feedback from the people who are our potential clients. Once again, they have proven that they want the straight scoop not something written to make everyone else on AR feel good for the rest of the day.

Congratulations. And could not agree with you more. This is not the time to be PollyAnna. It is a time for creative solutions and strategies for those that intend to take advantage of this specific market.

10:41am • #41
222,305 Points 12 Featured Posts Outside Blog

The biggest mistake is the whole statement "It is Great time to buy" - has SOOO many variables.  It cannot and should not be a blanket statement.

It MAY be a GREAT time to buy - for a certain buyer in a certain area or part of the country --- but there are so many if's  and's  & but's...

We must be honest to people.  We don't have crystal balls.  Just this week I told a seller - you need to wait to sell.  Wait how long?  I gave them my opinion - but am very careful to say - there are never any guarantees and it DEPENDS on their INDIVIDUAL situation.

10:45am • #42
187,315 Points Localism Sponsor Outside Blog Hit Router

Usually, slogans are just hype. Here in South Florida, it appears to be a great time to buy real estate. Some properties are being offered at what seems to be incredible prices. We don't have a crystal ball- but it is clear that significant improvement is on the horizon.

"It's a great time to make a good decision"

11:00am • #43
1 Featured Post

I agree that this is NOT the advertising NAR should be promoting right now.  If someone took that to heart, plunged in and bought, and prices continued to decline in their neighborhood, could they sue NAR?   Good luck with that! 

11:07am • #44
408,827 Points 72 Featured Posts Outside Blog

Jesse and Kathy...

Excellent...It's all yours :)

Let us know when you post...It should prove to be a really good discussion :)

P.S. Could you please tell us at the end of a comment which one of you we're speaking with? Thanks :)  

Stan...

I love it when you stop by and tell us how you 'really' feel :)

TLW...ROAR!  

11:16am • #45
108,048 Points 3 Featured Posts Localism Sponsor Outside Blog
Wow.  Thank you for posting those comments!  Very enlightening to know where the consumers are coming from! 
11:16am • #46
257,553 Points 7 Featured Posts Localism Sponsor Outside Blog
Speaking about blanket statement,  I have a hard time making a blanket statement about consumers attitudes based on the 4 comments recorded here.  Certainly, the blog community is not representative of the whole of the public.  More food for thought.
11:35am • #47

Very well put Bryant. You have articulated my thoughts and observations perfectly. Stan's remarks are a reflection of what we as Realtors need to be very careful of. Our credibility has already suffered in this mess. By making such brash statements stating "NOW is the time" without clear qualification I believe we are flirting with trouble i.e. potential ethics and even civil implications. This is a very interesting relevant article http://www.nytimes.com/2008/01/22/business/22agent.html?_r=2&em&ex=1201237200&en=c75bab9bf5a1c38e&ei=5087%0A&oref=slogin&oref=slogin

 

Vince Brennan
11:53am • #48
Great Post and ohhhhhhhhhhh so true.  I really enjoyed it.  Thanks.
12:06pm • #49
109,021 Points 11 Featured Posts Outside Blog

BB (and Billie too) Most markets are driven by perception. I think the NAR is doing the right thing by trying to change the perception. I also believe that now is a good time to buy. Who knows when we will reach a bottom, but we do know how much we are willing to pay for a property. Just go out and negotiate that deal that you want instead of waiting for the asking price to reflect it. In this market you just might be able to buy at bottom prices if you know how to negotiate.

Bill Roberts

12:21pm • #50
121,298 Points 6 Featured Posts Outside Blog
I can't imagine having to tell someone that. It's things like that, that make us look bad. Really, every day could be a great day to buy. It depends on your situation. 
12:28pm • #51
143,648 Points 13 Featured Posts
I agree with the consumers. They deserve better and we look like morons when we tout something that does against what every other media outlet is saying. 
12:48pm • #52
It's a Buyer's Market.  Buyers can ask for, and get, all kinds of concessions.  Isn't that a good enough reason to encourage people to buy?  If a buyer's market is not a great time to buy -- when is???? 
1:09pm • #53

Well I don't know about your area, but I can tell you about mine.

I haven't had time to even make comments on blogs here because I've been out showing clients that want to buy homes... and NOW!

So although I can't speak for Florida, Kansas City is HOT HOT HOT!

Fran White, REALTOR®
1:11pm • #54
614,723 Points 244 Featured Posts Localism Sponsor Outside Blog

OK I made it back. Great comments. Again I want to point out that I am not disputing that it may be "a great time to buy real estate" in some areas. But is that really what you feel our association should be harping on?

Allison Stewart wrote this the other day:

Perhaps now IS the best time to consult a local realtor and discuss How Much House you CAN afford!

I like it. It's a little too long for a slogan but it conveys the importanace of a REALTOR(R) and is not just spewing out propaganda that may or may not be true in a lot of areas. If I told someone in my market that "It is a great time to buy real estate" I would look like a fool!! Our association just needs to quit making blanket statement about the market and start pitching our VALUE.

 

1:12pm • #55

Bryant,

I think you would find even more consumer comments, except many blog authors delete the comments from anon or anyone else who disagrees or has anything they feel is negative on their post.  A paid ad is controled media, censoring activerain posts seems to go against the principle of this interactive format.

Consumer
1:45pm • #56

Simple Solution:

If it's true that it's a great time to buy in your area.........Shout it from the mountains.

If you don't feel it's a good time to buy in your area...... don't say anything OR write a post like this. :):P ;) LOL

Fran White, REALTOR®
1:57pm • #57
112,201 Points 6 Featured Posts Outside Blog
I agree with you. It is embarrassing when NAR and local boards spout this random advice. No way can NAR know what each individual market is like. The time to buy is when you need to buy & you find what you are looking for at the right price for YOU. I see that very often here but that doesn't mean that the right house is out there for every single person. It is case by case.
2:06pm • #58
187,440 Points Outside Blog
You take NAR's ad with a dose of sensibility. It's not great ALL this country but there are places where it truly is. From their (NAR's) standpoint how would you differentiate(state to state and city to city)? That would be an impossible task.
2:09pm • #59
614,723 Points 244 Featured Posts Localism Sponsor Outside Blog

Consumer, I never understood the delete thing. ALL opions are welcome on my posts at any time. I want to hear from the consumers. It's how I learn to be better at what I do.

Fran, I agree. Which is why I disagree with the blanket statement "Now is a great time to buy real estate". That is a false statement in my market so why should I, as a REALTOR(R), eb at the mercy ofmy board advertsing that way? It's lame and ineffective advertising and in my opinoin, does more harm than good. 

Robert, I also agree with your comment. And that's another reason why NAR should quit trying. Why not advertise a REALTORS(R) expertise in reading the market and deciphering market conditions? I do not need NARs help with selling houses. I could however use NARs help in selling what REALTORS(R) bring to the transaction. Make sense?

3:01pm • #60
With buyers in control, interest rates being low, so many lis pendens notices filed, foreclosures on market, huge inventory, and motivated sellers; isn't right now a good time to buy a home for a long term investment
3:23pm • #61
Great post and discussion.  Most people are smart enough to realize that it's advertising should always be taken with a grain of salt.  Buyers and sellers should be able to rely on agents and lenders for sound advice, but it's only advice...
4:27pm • #62
614,723 Points 244 Featured Posts Localism Sponsor Outside Blog

Hi guys, There have been two more posts written about this topic that are very good:

Jesse Clifton wrote http://activerain.com/blogsview/359441/Cogs-in-the-progaganda

Janet Guilbault wrote http://activerain.com/blogsview/358928/Pollyanna-Never-Sold-Real

Stop over and pay them a visit.

5:18pm • #63
202,330 Points 6 Featured Posts Outside Blog

 The reaction of these consumers echoes the way I feel when I hear the Cheerleading by agents and NAR. Isn't the most important aspect of our relationship as fiduciaries the building of trust and the execution of trustworthy actions. Just as we should not tell a buyer what to offer or tell a seller what to accept.. we should not tell the consumer when it's a good time to buy. It is all relative to each individuals financial and personal situation.

Our local news featured a mortgage professional from our area last week touting the same line. "Rates have never been lower its a great time to buy"......Now that made my skin crawl. Yes, prices are down some, rates are lower..Is it a better time to buy than last year, sure... Is it the best time to buy?... who knows is it a "good time to buy"... jury is out.. The comment I made on your previous post stands...

 

BB, Personally I would have a hard time regurgitating those REALTOR® Association  Good time to Buy "Talking Points." In fact the whole indoctrination approach makes me cringe. Where did the get their crystal ball??? 

Our market here in NC has not seen anywhere near the fall of other areas.  The experts forecast is good for our local economy. Whether we have reached a bottom here or not is still in question. I have seen blogs posted by agents in my area spouting the same "great time to buy" spiel... I refuse... It may be a great time to buy, we just won't know it until it's over. 

 Ginger

6:03pm • #64
5 Featured Posts

BB...I love your post..I have been in meetings several times a week while we continue to tweak our buying formulas....One recent package I was working with an investor concerned several homes, in nearly perfect condition, just had rehabs completed....While we were contemplating the bid we would agree on, a new home builder in a local development contacted us. How about 8 nearly new homes, 05-06, in perfect condition, for less than the rehabbed homes we were contemplating...

The scary thing is the building boom is cranking out again here in Lake County...decisions have been made to close out the developments...Investors are jumping forward and writing checks  ...the  banks are saying no, the private investors are jumping in with both feet..on new construction....I however, have put in writing that I have no freakin idea who will buy these homes, but speculation is moving forward at a discounted pace again.. 

 

6:24pm • #65
3 Featured Posts
Great post!  Thanks for sharing this information.
6:35pm • #66
195,813 Points 13 Featured Posts Outside Blog
AGAIN, REAL ESTATE IS LOCAL PEOPLE!  In my area in Maryland we actually experienced appreciation this year and things have started to pick up again as well.  In my opinion, NOW really is a good time to buy here because the sellers are still giving away large buyer contributions and rates are continuing their downward spiral.
7:15pm • #67
576,721 Points 47 Featured Posts Outside Blog

Hi Bryant, kind of tells you that the guy living the painful truth of th market understands that hype is still hype and the reality of the market is hitting the sellers right in the wallet.  Nice post Bryant.

7:25pm • #68
114,647 Points 9 Featured Posts Outside Blog

BB - Pretty bold to go against the flow.

In my market we have serious depreciation, but I'm still thinking that for the buy and hold types, now is  actually a good time to buy real estate. Am I just drinking the Kool-Aid, or are the worst days yet to come?

You can get some smoking deals out here. I remember a post you did where similar homes were selling for wildly different prices...if you buy that blowout, bank-owned deal and get an insane low rate is it a risk worth taking?

10:53pm • #69
JAN
31
2008

So will someone please tell me when the right time to buy is? Also, what are you guys telling your sellers or potential sellers? I am not talking about distressed sellers. You know your average run of the mill seller who is thinking about buying up or down or maybe has a job transfer or maybe someone got married or died and they have to settle the estate. What kind of marketing suggestions are you giving them to get the house sold?

We are going to give them suggestions, right? More than the market  stinks and  buyers are not going to buy because its not the right time.

12:45pm • #70
614,723 Points 244 Featured Posts Localism Sponsor Outside Blog
Salvatore, What I tell my sellers is the truth. I tell them the market for selling a home in Poinciana Fl right now sucks. If you don't HAVE to sell then wait. The absorption rate in my market right now is 1.8%. That means that out of 100 listings less than 2 will sell. There were 440 total sales for 2007 and there are currently 1200+ homes on the market. That's means there is a 3 year supply. If my seller NEEDS to sell then we need to price 10%-15% below recent comps then MAYBE we'll get lucky! That's what I tell my sellers. If they are still wanting to lace their home on the market then I will do everything I can to get it sold. Sellers need to hear the truth. So whatever is true in your market then that's what you need to tell them. And the same goes for buyers.
2:27pm • #71
Sounds like a reasonable approach. At least you agree that we shouldn't abandoned our sellers and you are offering advice. So if I understand you correctly your  personal listings are going to be 10-15% below recent sales. If I were I buyer in your area with those discounts would you encourage me to buy now or do you think its going lower.
2:42pm • #72
614,723 Points 244 Featured Posts Localism Sponsor Outside Blog
Salvatore, I actually don't work with buyers. However it would depend on what you are buying for and how long you plan on staying. My market is still declining and could go down another 20% or more over the next year or so. We do have lots of foreclosures and short sales so you can certainly get a pretty good house for a reasonable amount of money if you have patience and strong finances. I feel if a buyer plans on staying the house for 4+ years that would be OK. If not, it's not a good time to buy on Poinciana.  Unless of course they want to purchase one of my listings:)
2:56pm • #73

Appreciate your comments. Very thought provoking.

8:46pm • #74
FEB
02
2008
4 Featured Posts

My broker/manager wears that advertisement on his shirt and so does another senior agent. I love them dearly and my broker/manager has bent over backwards to help me succeed as an agent (I'm just past my first year) but I WON'T WEAR THAT AD-BUTTON on my blouse.
It does look cheesy! I'm sorry, it just does.
I also believe that while it generally looks like it's a good time to buy (interest rates down, lotsa inventory to pick from, prices coming down, down, down), it doesn't mean it's a good time to buy for just everyone.
I think it's great for investors to fetch foreclosures and short sales. First time homebuyers with sound credit and very tired of renting will  most certainly find great deals as well (in my market).
Also, my business depends on real estate sales and I'm most certainly not going to wait for the government to fix the housing crisis (because that ain't happening), and I'm also not going into hiding until we have the next boom. Something's gotta give and if my broker/manager's advertising encourages just one buyer that it might be worth taking a look, then that's a good thing.

4:47pm • #75

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Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc

Poinciana, FL

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Bryant Tutas-Tutas Towne Realty, Inc

Address: P.O. Box 969, Dundee, Fl, 33838

Office Phone: (407) 870-9003

Cell Phone: (407) 873-2747

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