I’ve got the power hey yeah heh
I’ve got the power
Oh-oh-oh-oh-oh-oh-oh-oh-oh yeah-eah-eah-eah-eah-eah
I’ve got the power
Oh-oh-oh-oh-oh-oh-oh-oh-oh yeah-eah-eah-eah-eah-eah
Gettin’ kinda heavy
The Power – Snap!
As you might have surmised, the real estate community is not thrilled with the writings of yours truly and the exchange of accurate, un-bullish information at this blog. Realtors in particular are accustomed to controlling the information regarding real estate, and media outlets like this blog are a threat to their monopoly.
They even have the audacity to criticize anyone who broadcasts a negative truth as if the dissemination of information is the problem and not the information itself. After we published Irvine Realtor Ratings 7-8-2007 the realtors pressured OC Home Review to stop giving the general public access to the information we used in our report. Apparently incompetence and poor performance are OK with the real estate community. It is all part of the old game of blame the media.
Does the real estate community have anything to worry about? Is it possible for the Irvine Housing Blog to have an impact on the housing market?
Congratulations guys!
—–
WOW!!! YOU HAVE DONE IT!!!!! THIS UPSCALE WEB SITE, WITH TOP OF THE LINE FONTS, WALL TO WALL GRANITE BACKGROUNDS AND IMPECCABLE T ASTE IS ON THE GO!!!!
AND IMMACULATE JOB WELL DONE IN A WELL LIT, SUNNY LOCATION OF THE WEB!!!!!!!!!!!!!!!!!!!
HURRY UP AND POST SOME MORE BEFORE THIS DEAL GOES AWAY!!!!
WITH A VIEW!!! 😉
Well, considering how many people come to the site and thank you for saving them from buying a house right now, maybe you HAVE affected the market!
By the way, I’ve been lurking here since the early days, and you helped me convince my husband not to buy a $500K condo in Aliso Viejo. We’re still renting in Irvine for at least another year.
IR,
Without a doubt, this blog has saved future buyers hundreds of thousands of dollars. Calling out sellers and Realtards on WTF pricing is the key. You present actual scenarios with hard numbers. That’s hard proof that can’t be distorted…and it pisses ’em off !
You should start a campaign to get even MORE people to visit IHB ! You/we DO have the power now in this market.
And remember, “Friends don’t let friends make offers”.
IrvineRenter,
Would you be interested in creating a forum topic which included some of the hate mail the IHB team has received? I’d be curious to see a few choice ones (after they’ve been doctored up to appear anonymous, of course). Thanks for your time and consideration.
Mr IR,
Keep it going, I am an appraiser who reads your scripture each day. Your insight should not be deemed cyncical or detrimental to OC real estate, but rather embraced for the truth you speak (it obviously has been). Keep the pressure on these “used house salesman”. They deserve every last bit of hell you can unleash on them. When their precious deal is in jeopardy of not closing they will lash out at whoever they think is responsible! To hell with em’
Keep up the good work.
The “Aliso Condo Purchase” thread pretty much says it all.
Yes, we need this blog and no, realtors aren’t going to like it.
http://forums.irvinehousingblog.com/discussion/947/aliso-condo-purchase/#Item_34
IR,
There is no question that IHB blog has affected the current market. You guys are way ahead of the curve. I have seen literally paragraphs taken from your scribes and some of the comments here and posted on proprietary financial sites (unsourced, of course.) The same sites that missed the entire bubble, even now insist on calling it a SUBPRIME problem and are just now getting around to how to deal with it.
As for the monopoly issue, I think Big Paid Media is hugely pissed that they didn’t buy the internets when they had the chance years ago. Way too much truth is being allowed to be disseminated regarding all aspects of our collective lives for them and that makes the old guard very nervous about being marginalized.
I’ve always found that raw numbers don’t speak to people, examples do. Telling an expectant mother that inventory in OC passed 20,000 this month would give you a puzzled look. but stories after stories of 6 figure losses will prompt her to wait.
good job on the hard work!
btw, this guy is doing some pretty good work in South OC, may want to add him to your blogroll.
South OC Tracker
Insider Q&A hears that land market’s ‘non-existent’
http://lansner.freedomblogging.com/2007/10/06/insider-qa-hears-land-market-non-existent/
IR – Great job. Now all we need to do is convince the Realtors that they make money when property changes hands. How do we get the inventory moving in today’s market — lower the price.
If the Realtors want to start making money again, the formula is simple:
1) Convince sellers that it’s not 2005 or 2006. Like it or not, the property is NOT worth what it was two years ago.
2) Convince sellers to price the product to move.
3) Get buyers in the door, make the sale, collect their commissions.
The key is to quit flogging houses as “investments” or “appreciating assets.” They are stucco boxes in which you live. The longer they try to use the “investment” tactic, the less credibility they have and the more they hurt themselves. Hey, everybody knows that cars are depreciating assets, but we all buy them anyway. The same can work with housing.
“Here’s a nice stucco box, you’ll enjoy living here, and after tax breaks it’s $200.00 per month more than you are paying to rent.” That kind of honesty will sell houses. “Buy now or you’ll be priced out forever,” isn’t going to work anymore and just delays the inevitable.
Housing: That Sinking Feeling
Homeowners are getting slammed as builders slash prices. The big question: Will this shock treatment help hasten the end of the painful downturn?
http://www.businessweek.com/magazine/content/07_42/b4054001.htm
Once a job requires as little qualification as a realtor’s job, they must have been scared to death when their monoploy is challenged.
My IHB t-shirt came in the mail yesterday and I didn’t even wash it – just grabbed it on the way to the gym with my little guy and I proudly wore it while working out. I washed it this morning and will wear it proudly all day today as we do our errands, go to the park, etc. I hope to see some fellow IHBers!
Affect on the Realtors? Definitely. They hate this site. Of course, these are same morons who we have all agreed are totally clueless.
Is it possible that IHB is affecting the local market? Possible, but extremely unlikely. Based on several psychology experiments related to influence and the sources of misjudgment, it is more likely that the only people who read and adhere to the bearish view on this blog, held these views previously. Encountering contrary information for those that hold the opposing view only serves to strengthen the commitment to the original position.
Buffet had a piece in Fortune from 2002 where he discusses the sources of investment errors, and commitment and consistency was one of the factors he identified. Darwin was noted for his ability to overcome this ubiquitous decision making gremlin, but again he was one of the great scientists in our civilizations history. Richard Feynmann also identified this error when he discussed the advancements of science.
I think this would be great. I would love to see hatemail.
Sunshine is the best disinfectant!
Lenders slow to raise home loan standards
http://www.latimes.com/business/la-fi-nusubprime5oct05,1,2337625.story?coll=la-headlines-business
Oh, I don’t know. I’ve met several people now at school who said they were looking to buy a home, and mentioned Irvine Housing Blog, and they said, yeah, they already know about it, their neighbours told them about it.
Personally, I believe you guys have achieved this level of influence through the combination of your CARPOT and NEWPAINT.
Well done. It would be nice if you would have a listing from time to time that hightlights everything done right.
“it is more likely that the only people who read and adhere to the bearish view on this blog, held these views previously”.
I recall several people writing in (after “lurking” for some time) and thanking IHB for changing their mind about buying a house.
That’s what the net neutrality debate is all about. The internet gateways want to be able to control traffic so their paid-for broadband-hogging sites load quickly and smaller sites take longer to load.
So much for free speech then.
If we could only leave comments on their laughable prices and ridiculous descriptions in the MLS.
People who are able to convinced are, in fact, already on the same side. Those who were lurking were, in fact, already bears (or lacked the financial resources), and were looking for supporting information. These are not potential buyers.
The experimental data seems to bear out (pun intended) the commitment bias. If it were otherwise people and markets would be far more rational.
So, the folks who were looking to buy a home and decided not to because of this blog, weren’t really serious about buying or could not afford to buy? If someone was able to change their minds, they weren’t serious in the first place? What experimental data? Or maybe, when someone says something, like they changed their minds, they are smart enough to know what they are talking about. How much arrogance must it take to know better about others and their decisions and motivations than they themselves know?
Awgee, I am sorry that you have no experience with behavioral economics. The results are often counterintuitive, which makes them hard to comprehend and of course interesting.
This is the second time I have brought to light some of the mechanics of the decision process based on behavioral economics, and both times you have responded rudely.
I would suggest reading a few of the NOBEL PRIZE winning work conducted in the field before engaging in any further discussion on this point. I will graciously provide you a link.
http://en.wikipedia.org/wiki/Daniel_Kahneman
BTW, is this like the time you thought that any economic thought not based on Austrian principles was rubbish? Perhaps someone else should consider checking their arrogance at the door?
Well, there is nothing in behavioral economics that says human beings will never look at anything that will change their minds or that no amount of evidence against their initial beliefs will ever change their minds. Human beings are not orthodox economic calculators but they are not another type of automaton that has been discovered by behavioral economics.
Behavioral economics it too diverse and new to put it into such a straightjacket. There are lots of disagreements about the regularities and models that best describe human behavior (see, for example, the debates about the applicability of prospect theory).
Behavioral economics: a new field of study created to make its authors rich.
I think you could go so far as calling it “gourmet.”
Hahahahaha!!!!!!!!!
Me, too.
“Is it possible that IHB is affecting the local market? Possible, but extremely unlikely.”
To be honest, I agree with that statement. I know we have effected the decisions of a few individuals, and that has some impact, but markets are just too large for anyone or anything to make much of a change.
IHB will not create a decline if there was not one already coming, and it certainly will not change where the bottom forms. The only impact we might have is on the rate of decent to the bottom because the information we convey will contribute to the bearish bias which will really grip the market over the next 18-24 months.
It’s a tribute to Adam Smith by helping provide perfect information, so realtors can get spanked by “the invisible hand” 🙂
MAD LOVE IHB!…Yours is the best realty-based show out there.It feeds my schadenfruede as I watch arrogant So Cali’s try HARD to continue living the lie.Where are all the arrogant “geniuses” now?BWAHAHAHAHA!
Don’t underestimate the power of information.
The decline is obvious now, but it wasn’t nearly as obvious a year ago when you started the blog.
Clearly, information, or the lack of it, can affect people’s decisions (ex. say, a few years back, when a potential buyer only got positive info like “flip this house” type shows, appreciation stories from neighbours, “housing always goes up” from their realtor, and positive spin from a mortgage broker who said here’s a great monthly rate and you can always refinance later). Sure, the facts were out there, Roubini and people like that were out there in academia and in Wall Street trading houses who knew the score and the risks, but that information never made it to the average potential buyer. Where could they find that information? The internet. People with blogs who would present their arguments to anyone in the world with an internet connection and a browser.
When people have all the information, they will sort it and make the best decision they can based on that. Poor information leads to poor decisions.
Since behavioral economics was brought up then I suggest that for a great read is “Mispredicting the Endowment Effect: underestimation of owners’ selling prices by buyer’s agents.” By Dunning, Loewenstein and Van Boven. BTW Kahneman is cited several times. Also I recommend reading “Endowment Effect” by Kujal and Smith.
From the first study it will be fun to see what the 5th round will be like since we are only in round 2. From the second study, while not the purpose of the study, it shows how under trading leads to lower prices of the sellers. I would say that is a fair representation of the current market and if the theory proves to be true then prices will continue to go down. If we at IHB have some sort of effect on potential buyers here then all the better. It was the irrational behavior of those who do not understand behavioral economics or basic economics that have created this mess. This behavior is not normal and is only going to lead to economic unstability. And most importantly it seems that more and more are becoming pessimistic: http://www1.chapman.edu/argyros/acer/CSResults_2007Q3_09-10-07.pdf
It also sounds like someone here thinks that all of us must be renters and that since we are bears have never been bullish on real estate.
BTW Alfred Nobel never created a prize for economics. If you notice it technically is called a “Nobel” prize but just a “prize” in economics. So in reality you can win a “prize” that is granted by the Nobel foundation that was created by a bank in Switzerland but it isn’t a “Nobel” prize.
The true arrogant from SoCal, in 2003, moved to Las Vegas, Phoenix, Miami, Seattle, Chicago and bid the prices skyhigh so the locals had to go 100% financing. Then those arrogant SoCal’ners moved back last year and have been renting for a while with all the money they made.
Of course, the truly arrogant amongst us never sold nor bought in the bubble because we’re too busy in our REALLY gourmet kitchens slathering the Grey Poupon on our kosher hot dogs, excuse me… frankfurters.
Gotta go, I don’t want my Pinot Gris too cold. It makes it acidic and then it overwhelms the faint notion of winter rye in our freshly baked buns.
-As a matter of fact, I do have a Viking range….
What’s with the need for a super expensive stove?
You should taste my homemade pumpkin yeast rolls made with kamut flour from the health food store and my pumpkin raison oatmeal cookies baked in my cheap oven. My cheap fridge keeps things cool and my cheap dishwasher washes dishes, when I make myself put the dishes in. I like to spend my money on organic stuff and other quality ingredients. I suspect that lots of McMansion owners never actually cook in their “gourmet” kitchen.
I don’t like granite; have a pretty corian knock-off. I think granite and steel are the avocado/harvest gold of the future.
And I don’t know any Californians (almost said Calimorons, but that wouldn’t be polite) who moved to Miami. We bid our prices way too high all by ourselves, thank you, tho there WERE some New Yorkers who thought Miami was cheap.
The media is responsible for the high casualty count in Iraq, the falling housing market and the faltering dollar. The only media outlet looking out for America’s interest is the state run Fox News.
I think capitalismworks makes a legitimate it’s just that it’s bit more forceful than I put it.
A blog IHB can have a tremendous affect on the market without directly affecting a home buyers individual decision. While it may or may not be hard to connect IHB to an individuals decision I think you would have be intentionally missing the media dynamic if you don’t think that blogs such as IHB and many others (and there are a lot though few as well done as IHB) have had in the public discussion and view of real estate as it is now. And as long as they, the blogs, continue to be right, they’ll continue to nudge and drift the public discourse on real estate towards a slightly less surreal and self-serving (for the realtors) view.
There’s little question that “public opinion”, such as it is, isn’t something that is generally swayed by a few blog posts. But the grass fire that is blogs can grow into something that even most airheaded broadcasters and writers can’t completely ignore.
There’s no doubt in my mind that IHB, and the group of RE blogs in general, have helped shape public opinion and therefore, some public buying decisions.
Hahahaha!!!!
Yep, it’s like that Cathy cartoon (sorry can’t find a link)
1st panel – 1950’s kitchen (1 wood fired stove)
2nd panel – 1950’s dinner (huge Thanksgiving style dinner)
3rd panel – 1980’s kitchen (the “gourmet” kitchen with stainless, granite etc.)
4th panel – 1980’s dinner (a bagel on a plate)
Per the earlier thread about what happens when the credit cards run out…
401(k) Loans: At Your Own Risk
Borrowing Rises a Bit Despite Long-Term Danger
http://online.wsj.com/article/SB119162722016150793.html?mod=hpp_us_personal_finance
Thanks IHB!
I sold a home and an apartment building (Newport Beach and Laguna Beach) both in spring ’06. I have been renting since. I am eager to get settled down again and have been making offers but reading this blog daily not only keeps me informed, but keeps me grounded and mindful that the next entry point for a home is probably several months (or more) away.
Keep up the good work.
If all you do in your kitchen is bake cookies… but if your taste runs from Spanish, French, German, American, Japanese, Hawaiian, Chinese….etc… then…
Don’t, EVER, discount the value of well made appliances for the kitchen. EVER…
Our Viking 6 burner gas range top is worth it. It has almost enough BTUs to fully run the wok ( we got a ring ), it can boil a large pot of water fast, it can keep a pot of oil evenly hot even when you dump two pounds of potatoes… and then it can gently make sauces, roux, bechamel, osso buco or what not without burning because it has great control and good low settings.
Our oven, a GE convection, is electric and pretty large. It’s great for large and small pots. And you can make lots and lots of cookies at any one time without having to rotate the trays around.
Our second oven is a GE Advantium with microwave and halogen. If we’re in a hurry we can make a tray of baked chicken and steak fries -from frozen state- in 15 minutes. It can make cookies in 5 minutes, deep dish rising pizza in 12…. when both parents work that appliance can be the difference between a good meal or take out.
Our dishwasher is a Bosch. You can stand next to it and not hear it. I wish we had two sometimes.
We got two really large sinks. Our large double one can fit a half sheet comfortably in one of its halfs. It’s also next to the dishwasher.
We did quartz, not granite. And our built in fridge is a KitchenAid, not a Sub Zero. But other than that the single compressor, they offer the same functionality. They both can hold a grown up body in the refrigerator side. The Mafia would love it.
I could go on an on about the selections we made in our fully custom design even down to the quality and type of drawer slides( 200 lb full extension ) and oversized dual scroll fan exhaust.
We have two triangles: one from the fridge, cook top, small sink and pantry. Another from the large sink, dishwasher and storage. This means we can cook, clean and prepare without getting on each other’s way. And the rest can set up the table from the other side and/or reach the fridge and pantry without getting much in the way.
The point is that when you like to cook, a well designed kitchen that is built around you and your family is worth it’s price in gold.
I do agree with your, though, that many McMansions in OC have “price” kitchens with much more expensive appliances and finishes than ours and yet they are not designed to cook in. And ours was a costly affair to start with…. heck, we got lots of 30 amp romex on those walls!
Alternatively, in other locales ( Hey Seattle!) the realtors like to advertise “gourmet kitchens” because the Sears fridge stays with the house.
So there. Maybe tomorrow we’ll make ropa vieja for dinner.
BTW- the email I responded to Dr. Funk was in jest. Miami needed no help from anyone.
But, we did have Grey Poupon in our Reuben sandwiches for dinner.
And I did grill the sandwiches in a 20 year old heavy pan on our Viking and baked the “fries” in our GE.
And we didn’t drink Pinot Gris. we had a young merlot from Paso Robles. Although a Trimbauch Pinot Gris would have matched too.
Perhaps several YEARS (or more) away……. 😉
Ok, I admit being able to have a wok would be nice. It kinda sucks cooking classic Chinese food in an oversized frying pan on a too small electric burner. Food still tastes good though.
Microwave cookies? Sorry, just lost your credibility as “gourmet” :).
I’m a newcomer. Wondering if you’ve ever posted about houses that get taken off the market and put back on, or sellers changing realtors – so they can claim the house hasn’t been on the market long?
I know of one particular condo that has been on the market for some two years now. In fact, the price changed from $365k to $345k to $335k and back up to $339k when they changed realtor.
Irvine Renter,
As much as you would like to believe that this blog has an effect on local markets, you obviously have come to the correct conclusion that it simply does not.
I am new to this site and I do have to say I enjoy the commentary. I don’t give the “facts” as much weight as others may, but I enjoy the site none the less. You probably know that listing statistics to try and support your point of view only persuades those who don’t understand statistics. Information is only as good as those who interpret the information.
Do you have a personal profile listed here? I am curious as to your motivation behind your postings.
“This uncensored competition comes at a time when the pros already feel beleaguered, and not just by the housing slump. Indeed, the industry, which collected roughly $65 billion in commissions in 2005, has taken a series of web-based lumps that threaten its boffo business, be it tools like Google StreetView that let people check out neighborhoods and lots remotely, or home-price estimates that undermine brokers’ efforts to sell for top dollar. Now, with online chatter encroaching on their role as data gatekeepers, the pros are finally pushing back — by writing their own chatter.”
——————————————————
http://finance.yahoo.com/real-estate/article/103638/The-Dirt-on-the-Neighbors
Gosh, it seems I touched a nerve here. Such a paen to kitchen appliances.
I do not consider my self a “gourmet” cook. But I can cook.
When my son was a teenager, his friends were here virtually every weekend, sometimes all weekend. When I got up Saturday mornings I would count the bodies in the spare bedroom, on the sofas downstairs, and even occasionally, the floor. All boys, one stupid girl stayed one nite and was told never to do that again.
Anyway, I would cook for them. Apparently, the reaction to what I would call simple peasant fare was ectasy. Apparently none of their parents ever really cooked. Once a newbie came, and I think I roasted a turkey. That is to say, I stuck it in the oven and let it cook, with some potatoes. And there were veggies and dessert. The newie sat there in awe and wanted to know if it was some special day, or were we planning a party. Nope we all said, this is just the way we eat.
One of the kids was poor (his family did cook stuff like barbeque once in a while). The rest of them were well-off to very well off. When my son came back from the army, he would bring fellow soldiers whose parents not only never cooked, they never sat down for a meal together, even a pizza or kfc.
So I have grave doubts that these expensive appliances are there for any reason other than showing off most of the time.
By the way, my son likes to cook, finished college cum laude, and is working at a drug counselor fpr a year before heading off for a masters and maybe a phd. My eyes light up when I think of him, not my kitchen appliances.
But I would like a second sink. I admit it. We have room for it, so if I ever have more money than I know what to do with. . . .well, I will blow it on trips to Europe, at the bookstore and clothes.
And gardening. Any of you guys ever eat homegrown broccoli?
And to me fresh orange juice means you walked out to the yard, picked the fruit, and then juiced it. The tangerines are just coming in now. Half fresh tangerine juice have orange. . .sublime.
Oops, half
It’s hard to grow broccoli in the part of Irvine I live. I have two postage stamp gardens where I’ll grow tomatoes, peppers, cucumbers and stuff like that.
One year I got the idea of growing lettuce as an ornamental in the front yard, under the large japanese maple. I got the idea from Disneyland. It worked great because I’d pick in between the rows as the lettuce grew.
However, I don’t have the time to spend on the yard. All 2500 sq feet of it. Which is large enough to warrant an extra water allocation from the Irvine Ranch Water District! ;-D
Appliance wise you didn’t touch a nerve. We just built the kitchen that we wanted and spend the money wisely I think.
In fact, the quality and expense of our appliances is greater than that in most McMansions. The builders are after “the look” in their upgrade options and as a rule of thumb, anyone who puts the range top in an island with one of those “downdraft” vents is NOT a cook. And every on who does an expensive tile job behind the range is NOT a cook ( or at least not a CLEAN cook).
You should try to BBQ the turkey. Put some onions and garlic and pop it in the BBQ with the lid closed.
Oh… we also do grow citrus. Oranges, japanese mandarines, lemons and limes. We get two crops a year except for the mandarines which come out at Crhistmas.
Irvine is in ORANGE county after all!
I don’t have a barbeque. My husband doesn’t particularly like barbeque.
Ever hear of Indian River fruit? There are citrus groves all over Merritt Island, a lot of which have been ruined by purchasers who intended to sell to developers and didn’t take care of the trees. Some are on the space center property, and the orange growers have some sort of relationship to the center.
I prefer Calif navels to Florida navels. And by the way, the county to the west of us, where Disney is, is also called Orange County.
I planted some pecan trees, years ago, but they haven’t produced any pecans yet.
I tried to grow some zuchinni and cukes in the summer, but the bunnies or turtles got ’em. I have a real turtle problem.
We are talking really big turtles, a foot and a half long. I understand they are yummy, but they are indangered, but not in my back yard. They build underground palaces where I want to garden and the only way to get them out is to run the hose there for hours until their no mtg turtle McMansions fill up with water and they stick their heads out. We have a fence around the pool and garden area, but they dig under it.
Growing season is really starting now. When I had a house in Miami, I had starfruit and pomelos (grapefruit ancestors), and a neighbor had a tamerind tree that all the kids liked. It’s too far north in Brevard for that stuff. Merritt Island is the northernmost outpost of the subtropics, so you can grow both tropical and regular plants.
This is really off point, but fun.
This is beyond scary. It is also beyond stupid. My slightly older than boomer husband and I have IRAs, and pensions and the gov’t IRA version plan, etc. So we won’t be a drag, unless everything goes bust, which it may.
I have never seen the point of a $70,000 car, unless you are Bill Gates.
People do not want to change their lifestyles, even if the consequence is death.
Clearly most boomers are going to have to work way beyond 66, and that isn’t a bad thing, as most of us are healthy so why should we be a drag on you young’ens.
Hey you have an effect, you can see it right here.
http://alexa.com/data/details/traffic_details?url=irvinehousingblog.com
And it is growing – that’s quite a graph.
That’s an impressive traffic rank of: 210,724
for only having been up for 1 year! You acutally have at traffic graph!
By way of comparison, I have a website (different topic, educational games) and after 3 years, I have a traffic rank of 885,132 and no graph.
Well as much as you would like to think that we at IHB have not had an effect on a people and their decision to buy or not but we have. It may not make for much of a statistic but we have saved a few from paying too much for a home.
It sounds like you think that the information here does not include facts. Would you care to share what information here is not fact? Also if you have any facts or statistics that say otherwise please share because we would love the discussion.
As for you statistics comment I find that a bit offensive and insulting to our readers. Many of our readers are highly educated and not only understand statistics but have helped contribute to the statistics you find here.
As for a profile I think if you read every post found here https://www.irvinehousingblog.com/analysis/ you will see that the knowledge of the writers here goes beyond the armchair housing economist. Many of us have industry knowledge and have connections to get information from the industry. If we had profiles then we would not be able to remain anonymous and that is why we blog otherwise we would be getting paid for this info and it would cost you too to get it.
As for motivation I can’t speak for IrvineRenter but mine is to not let people make a poor financial decision. You see I was a kool aid drinker and I spewed the same BS lines that I now despise and continue to hear from the REIC. I believe in Karma and feel I owe it to people for my mistakes in the past. That and no one seems to remember the last bust but I do and I have a lot of info and statistics from that time. There is a lot of misinformation out there currently and about the past. And currently the market is in worse shape when compared to the past by a long shot.
While we may not agree in opinion we do welcome the opposite side here. You will probably get some backlash but the debate will be enjoyable for many here. I would try to keep the smugness down though and give our readers a bit more credit on their level of intelligence.
I am curious what do you think our motivation is?
Check this out.
10581 Cowan Heights Dr. North Tustin 92705
Listing Price
1st Agent: 3/28/06 $1,245,000
5/30/06 1.150,000
2nd Agent: 8/13/06 $ 969,000
10/20/06 829,000
3rd Agent: 2/13/07 $ 899,500
6/04/07 859,900
8/15/07 828,000
4th Agent: 9/13/07 $ 839,000
10/3/07 $ 749,000
Realtors = Realwhores
Brokers = Brokewhores
Flippers = Flipwhores
I dont give a rats ass about what these folks think or say about this informational site. I am proud of people on this blog who dedicate their precious time in digging, analyzing, and posting factual information and proud of people like me who is spreading this site to everyone I come across at personal or professional level. I am also proud of people who come here and post their opinions.
Realtors = Realwhores
Brokers = Brokewhores
Flippers = Flipwhores
You know as real estate is going down, these folks are losing jobs and are now pissed at us….screw them. Keep up the good work.
To no offence to ethical people who are still in real estate business.
Great work IHB!
For the record, I am a potential buyer…and I will buy when prices are no longer crazy prices.
Keep up the good work.
Wow. If you wanted it what would you bid?
I am a realtor but I read your site rather religiously and really love the information about the Irvine housing market that you provide, despite the harsh and brutal truth. I don’t do business in Irvine, but it is a great gauge of OC market and how to price a listing properly and to make sure my sellers come down from fantasy pricing to realistic pricing.
Its horrible how many agents just price listings poorly and don’t look in the best interests of the client, but rather their pocket books. I don’t sugar coat my presentations much…i just tell them the cold hard facts and I’d rather do that than waste my time selling a house that won’t sell in today’s market.
Thanks for a great and very informative site!