Market Watch News Press

Market Watch News Press Coverage (2/21-07)

This February event attended by several thousand people was less than what they expected. The two main speakers Frank D'Alessandro and Denny Grimes delivered less than anything earth shattering in their message. FD was someone the News Press relies on for the inside scoop on the commercial market and he delivered a self serving piece of trite that was meaningless and often off the mark.  Then there was Denny who is also the good ole boy of the Press.  His message although I am sure he believed it, was so far off the mark that I wonder how he is still the Darling of the Press. Both of them did little to make the event worthwhile. You had FD saying the pipeline was full and Denny saying lower your price.  Gosh that is worth every minute!! I won't even comment on FD but I think he is wrong on his conclusion that the pipe line is full. Frank, when the market returns to normal, and that is not far off, how do we supply the need. OH! Wait a minute, you have the product and might be a big winner! OPPS! Sorry I brought that up. Now for Denny - Lower all the prices and it will sell!! Let's put that another way, let me sell it at below market value and I'll make money!  So let me get this right, Denny said if all the Real Estate agents in the US lower the price of the homes they have listed, the market will return. Can we call it Wall-Mart Realty? Our price is the lowest! Denny there has been a long standing way of calculating the price for a piece of property. New Construction plays a part in this factor. If I can build something equal to the property next to you, you better be selling it for less. For some reason you think you are the only realtor in Florida or the US that knows how to properly price a home. Yes there are overpriced properties out there. There will always be this but to say that all of them need to be reduced and this someway will turn the market, suggest that you must be on something! Come on!! New construction has set the price. If I can build it new for X$ than I can not sell my older property higher unless there is something unique about my property, which I am sure you would agree. Denny you were passionate in your talk but there were no substance that was on point. The market has turned in January and you failed to make that fact. We have reached the bottom and further price decreases are unnecessary unless it was priced wrong to start with! Why not take this opportunity to spread the good news? The blessing is that no one with any knowledge takes you that serious.