Realtor Board Won't Send Numbers to State

[jk]

http://www.minyanville.com/articles/index.php?a=11983

Department of Impossible-To-Make-Up: Realtor Board Won't Send Numbers to State The Naples Area Board of Realtors no longer will provide monthly home sales numbers to the statewide association that calls itself the voice for real estate in Florida, the Naples News reported.

• The Naples Area Board of Realtors has for years has reported sales transactions for existing single-family homes and condominiums to the state association.
• Now, however, the local real estate board says it doesn’t think the way the Florida Association of Realtors reports the numbers is relevant and that it can do a better job with its own reports.
• Most recently, the Florida Association of Realtors reported that the median home price for single-family homes was down 13 percent to $415,200, and that condo prices fell 11 percent to $334,500, when compared to a year ago.
• Joe Ballarino, president and chief executive of Amerivest Realty in Naples, said the Florida Association of Realtors numbers are "accurate numbers," but "not relevant numbers, and that is an important distinction."
• “Now is a good time to buy,” Ballarino said. “But the buyer confidence is not there.”
• Ballarino expects the confidence to return to Naples now that the Florida Association of Realtors will no longer be able to report how bad sales are there.

[DemonD]

Re: Realtor Board Won't Send Numbers to State

JK, good catch. I was half laughing my ass off and half being completely scared by the blog of one of the "friends of itulip" thehousingbubbleblog.com . The photoblog section was what really had me going.

http://thehousingbubbleblog.com/js_slideshow/

The 600k houses that are basically run down popsicle sticks in norcal, all the cranes in miami and san diego, all the numbers they were running down, the charts on an associated blog (here: http://piggington.com/ ) were staggering. As much info as itulip has given before, I'm now more convinced than ever that housing and RE markets are in for the worst beating since the great depression, and that there's a good chance it will be worse than that. The photos of all the communities in AZ, NV, and Sacramento area really get to you.

And then of course as the world's energy usage gets depleted, you look at all these cities that are hours from major rivers, ports, and centers of commerce, and you just wonder how many of these places will be actual ghost towns - not in the next 50 years, but in the next 5-10 years.

The people in the RE industry would do well to own up to what is going on. Flatly lying by saying "now is a good time to buy" basically insults people's intelligence, and will only engender more enmity from "motivated buyers" or whatever crap term they are using. Sometimes I feel so insulted that when I see an open house in my area, I want to put a fair bid in, which would be about 250k for a 2 bed 1.5 bath house, when the asking is 500-700 or more, just so I can insult them, and then buy that same house 3 years later for that exact price... and probably force it lower cuz no one else is buying.

With all the foreclosures going on, I wonder how much of a bath all americans' credit scores are going to take.

[jk]

Re: Realtor Board Won't Send Numbers to State

just visited those links, demond., scary.