Quote of the day: Realtors Get Real

Friday, March 09, 2007 | 11:00 AM

Amazing quote via the Palm Beach Post on what has some Florida Realtors perturbed:

"Some Realtors are grumbling about prices not falling. Guess who they're blaming? Here's what Thomas Lawler, former Fannie Mae economist and current president of Lawler Economic & Housing Consulting in Vienna, Va., has to say in his private newsletter:

"A growing number of Realtors in Florida are frustrated with the state and national Realtors groups' efforts to 'spin' the market as one that is strengthening and where home prices are stabilizing.

"Many (though probably not yet most) Realtors are frustrated by customers who continue to list their homes at price levels that are 'unrealistic,' and as a result, sales volumes - and thus commissions - continue to remain depressed.

"While Realtors have noted to customers that many home builders in Florida have slashed new-home prices in order to move bloated inventories, many home sellers are still holding off, hoping - along with FAR and NAR - that prices will start moving back up soon."

Its seems that the Realtors are trying to "get real," while the NAR continues to stoke unrealistic expectations and illusory hopes . . .

Hat tip:  Kevin Depew Minyanville.


>


Source:
Builders optimistic, survey says
Linda Rawls
Palm Beach Post, Monday, March 05, 2007
http://www.palmbeachpost.com/business/content/
business/epaper/2007/03/05/c1bz_rawlscol_0305.html

Friday, March 09, 2007 | 11:00 AM | Permalink | Comments (25) | TrackBack (2)
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Listed below are links to weblogs that reference Quote of the day: Realtors Get Real:

» NAR and Housing Forecasts from The Big Picture
With the oft hallucinatory David Lereah now gone from the NAR, one would expect hope that the Realtor Group would take off the cheerleading outfit and get real. So far, that wish appears to be unfulfilled. There's been only grudging signs of any realit... [Read More]

Tracked on Jun 7, 2007 11:38:11 AM

» How Counter-Productive is Realtor Association Spin? from The Big Picture
One of themes we've looked at over the years is the spin that some trade groups put out on top of their data releases. Some data runs put out by Trade Associastions, like the ATA tonnage index, or the Home Builders Index, are the straight dope -- an un... [Read More]

Tracked on Mar 25, 2008 7:35:33 AM

Comments

This makes a point I've brought up repeatedly...that those that NEED to sell will slash prices, take the hit and move on (or declare backruptcy). Many others would LIKE to sell at these "high" prices, but won't if they don't get their price. This accounts for much of the "inventory", imho. I think we're past the peak of the speculator rinse job. I could be wrong, obviously.

Posted by: Fred | Mar 9, 2007 11:20:48 AM

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