Rebuttal to Post

Recently I received this comment to an old blog entry and I wanted the chance to respond:

You real estate agents all have no clue as to why the housing market in Columbia,SC is not falling as fast as the national average, do you.  Its one word: MILITARY!  But be aware that that is about to change... Because of the slick talking mortgage brokers &  the sales tactics you real estate agents have (any lemon lot car salesman would be proud of), our military families have been strapped to homes they can't get rid of.  Note that all incoming families have been advised not to buy when stationed in the Columbia area. If it were not for the military presence in Cola, the whole city would be in deeper economic turmoil. Columbia would not have the luxury of over pricing its housing market. Builders & sellers have over estimated the "gullibility" of the buyers and it will catch up to these crooks. A lot of these builders think way too much of their houses anyway.  We have one of the largest training bases in the nation, the largest portal for EVERY sector of our armed forces. And its only getting larger. Due to the economic forecast ,some of the "settling committee" have been persuading all incoming military NOT to buy.  Its 2009 people. Its not going to get better for some time to come. So sit down, strap yourselves in & shut up!!! Its going to be a long, bumpy ride for all you brokers & agents!!! BTW:Its safer to rent in these times and knowing how fast personal can transition, its better not to be tied down to property.  

Rebuttal to the comment above:

Columbia has ALWAYS appreciated the economic stability and investment the military has contributed.  However, when you compare us to other parts of the country (plenty of stats to back this up), we did NOT over-inflate our prices.  Builders built according to the demands of supply and need.  The folks at Fort Jackson told us ahead of time that they were bringing in 1000 new families over the past 3 years, at about 1000 a year.  These were THEIR stats.  They needed housing.  Builders do not build to rent houses, and the housing need was great, until now.

Its true that it is hard to sell a house in Columbia now.  But I hope one would realize that a huge part of this problem is the fact that others wishing to relocate here cannot buy because THEY have a house to sell in a very bad market, such as Colorado or California, or North of us.  It is not just the military affected.  It is everywhere.  However, I still believe that the BEST housing and the BEST place to raise a family is in a stable neighborhood...not an apartment complex.  I also know for a fact that real estate is a much more stable investment than the stock market.  Thru the years, real estate has made a lot of people wealthy.  And I am talking about the big boys, not mortgage lenders and agents.  Donald Trump sure knows the value of real estate investments...so does the Bush family.  The Kennedys too and anyone else with a lot of money.

In my early years I was a single parent of two young children with no father around, I realized that one day they would need to go to college and I would need some retirement.  Being self-employed (as all agents are), I could not count on government benefits or 401Ks.  I put my money in real estate.  It has served me well over the last 22 years, and I am worth much more today than I ever thought.  Furthermore, I have not LOST any money in my investments. Can't say that for the stock market.

So I think everyone agrees on the state of the economy.  We also agree that things are going to get a lot worse for awhile.  I am VERY concerned about us printing all this money,which is driving down the value of the dollar every minute.  I am VERY concerned that we will be paying with Euro's soon, and the dollar will be a thing of the past. 

The housing market is the bone structure of our economy.  We as Realtors are doing everything we can to help people sell and buy.  We had a press conference at the State House last Wed. to urge lawmakers to get rid of the 6% tax to investment and rental property as well as the "point of sale" appraisal method, which is further hindering the residential and commercial market here in South Carolina.  We lobby for things like this.

When Clinton was president, there was a bill introduced to do away with interest right-offs in housing.  We Realtors sucessfully lobbyed against it.  This would have DEVASTED our economy, and when they looked at it, they realized this was true.

So I am very sorry for those of you who do not value my profession or that hold us accountable for our housing troubles.  Regardless of how one feels, Realtors are good for our economy and Columbia appreciates Fort Jackson. 

Marianne Hatton

www.ISellThisTown.com