DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
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Monday, January 21, 2008
Realtor President Can’t Sell His Own Home For 2-Years But They Are Asking The Public to Trust Them To Sell Yours?
If the former President of the National Association of Realtors cannot sell his own home in 2-years, what makes you think a rank and file member can sell your home?
Whats wrong with this picture is people think that their home is an investment with an ATM slot rather than a place to live.
The Eastern Shore of Maryland and Virginia used to be very popular because it was known as ‘The Land of Pleasant Living’ with really good deals on affordable real estate. Greed changed that between 2001 to 2006 when property values rose 400% to 500% and more in many places.
10-years ago I was accused of “price gouging” by local realtors for selling lots in Captains Cove on something called the Internet for $5,000 for a wooded lot up to a whopping $22,500.00 for a waterfront lot because the realtors were getting maybe 40% of those amounts due to their stone age marketing methods. Those properties peaked with increase over 1,200% (Twelve hunded percent) and have fallen to prices in the $30,000 to $250,000 range which is now ‘un-realistically low’ to quote some of the same “experts” who were last to get with innovation and will be the last to get off this sinking housing market ship.
The NAR (National Association of Realtors) like rust never sleeps with its propaganda machine that churns out BS as fast as Wisconsin cows produce milk. The NAR is protecting the broken system they have rammed down the collective throats of the American public that is broken and never really worked… the list, hold and defend a price method.
Here is a link to the latest from the arsenal of realtors in their relentless assault against the pocketbooks of the American public: http://www.housingmarketfacts.com/
The NAR is out to protect it’s members and their stranglehold on the $40 TRILLION dollar per year real estate market.
Talk about a broken method of marketing the former President of the NAR has been unable to sell his own home since 2006 because it is overpriced and he refuses to deal with reality of free market pricing.
http://www.zillow.com/Charts.htm?chartDuration=5years&testAds=false&zpid=51698101
http://www.businessweek.com/the_thread/hotproperty/archives/2007/11/guess_who_cant.html
Here is a link to a website that tracks property values in his area showing property values are down about 47% yet realtors are still selling a pack of lies to the American public about their broken method: http://novabubblefallout.blogspot.com/
Money is power and the NAR has a small army who lobby all 50 States and on the hill to write laws so that consumers must use their members. In doing so over the past 50-years they have created an illegal monopoly that requires one to bow down and kiss the ring of the almighty realtors association or you do not have access to the sacred database of the MLS.
The American public in recent surveys has rated realtors as the “profession” held in lowest regard and the average person thinks the plaid suited used car salesman of the 1970’s has more ethics than a modern realtor. It’s not just me who does not think very highly of the organization that people who want to sell real estate are FORCED to join.
Did you know that its illegal in most states for a real estate agent to tell you what the amount of the last bid or offer on a house was? Did you know that its illegal to tell a prospective buyer WHY someone is selling their home?
If you deal with a realtor you can look forward to ’secret negotiations’ with one-on-one haggling using 30 to 50 page contracts, subject to and contingent upon this, that or the otehr thing. The laws passed by the NAR to “help” consumers have taken an easy task of choosing something you like or can afford into a major negotiation process.
This is in a society that really does not know how to negotiate, for instance when was the last time you asked for a discount on milk or bread at the supermarket?
A free market allows the people with the money who want to buy a product or service to set the price, the stock exchanges for businesses, the commodity exchanges for fuel, metal, meat and the like yet real estate which transacts about $40 Trillion dollars per year in the US is a kluge of one off, back room private negotiations.
The US Real estate market is controlled by the largest trade organization in the world the NAR which is sometimes called the Chicago real estate mob because of its headquarters location. The United States Dept of Justice has been prosecuting this group for years here is a link to its open cases: http://www.usdoj.gov/atr/cases/nar.htm
Dynamic pricing or auctioneering is the wave of the future!
How would you like to bid on property where everything has been disclosed in advance, home inspection reports, seller disclosures, termite reports, survey, appraisal etc and all you have to do is get prequalified and bid what you are willing to pay?
Simple - open - easy & transparent
THE METHOD REALTORS HAVE FORCED PEOPLE INTO BELIEVING IS THE BEST AND ONLY WAY TO BUY & SELL REAL ESTATE IS BROKEN AND CANNOT BE FIXED!
As Posted on http://www.pocomoketattler.com/?p=222
Do you have a link to information on your lots?
ReplyDeleteI am not pitching any inventory for sale.
ReplyDeleteWe have turned down every seller who has approached us in Captains Cove since April of 2006.
The waterfront lot we auctionined in April of 2006 brought $156,400.00 but the seller was greedy and wanted more because he paid $205,000.00 for the property in December 2005 at the peak of the bubble.
Every other person we have spoken with in that subdivision is either greedy wanting more than the property is worth or paid too much and does not have the money to close with to make up the difference.
Ocean Pines, same thing people have put their heads in the sand and think that property values are going down everywhere else.
NIMBY
Gosh, the NAR & the FOP are starting to sound like the MTU (Md.Teachers Union).
ReplyDeleteBravo! Bravo, Joe!
ReplyDeleteOne of your best posts. It takes real stones to take on these powers. You sure as heck won't see this in any of the news stand papers.
Keep it up!
What about those bozos who are being conned into buying units in that new condo on the river in Downtown Salisbury -- are they really paying more than $400,000 for them?
ReplyDeleteAnon 1108, if anyone is dumb enough to pay $400k for a condo on Riverside drive they deserve all the amenities that comes with their dream home. Amenities include, stench from river, unbearable noise from Brew River, aroma of Perdue processing plant, view of the ghetto for an added bonus they can be witness to drug deals, prostitution and the occasional assault on Fitzwater St.
ReplyDeleteBPT and her band of flying monkeys bring good things to life. I ask you, can you get an entertainment package such as this included in the cost of a new home or condo anywhere other than Barrieville?