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Realtor: It’s a good time to buy



I’ve lost count of the number of times in the past 18 months that I’ve been lectured about the media’s needlessly pessimistic coverage of the housing market.

The latest came today, when I was one of three reporters to address members of the Delray Beach Chamber of Commerce. The topic was getting coverage for your company. And, exactly as I would have scripted it, three Realtors at the event wondered why the media has been so negative about the real estate market.

Let’s see: Palm Beach County’s median sale price is down more than 10 percent from its 2005 peak, sales volumes have plummeted, homebuilders are laying off hundreds of workers, mortgage rates are on their way up — how could anyone be negative about that?

One attendee, Christel Silver, an agent at Realty Executives, paraphrased a Florida Association of Realtors official who has been telling members that the state’s housing market has three problems: insurance, property taxes and the media. Funny how home prices managed to soar beyond all expectations in spite of those three factors up ‘til November 2005.

At any rate, Sue Tauriello, owner of Tauriello & Co. Real Estate, asked why we in the media never say it’s a good time to buy. So I’ll oblige her: Realtors say today’s big inventories and still-low mortgage rates mean it’s a good time to buy.


Permalink | Comments (41) | Post your comment | Categories: Jeff Ostrowski

Comments

By Curious

June 13, 2007 5:56 PM | Link to this

At any rate, Sue Tauriello, owner of Tauriello & Co. Real Estate, asked why we in the media never say it’s a good time to buy. So I’ll oblige her: Realtors say today’s big inventories and still-low mortgage rates mean it’s a good time to buy.

BWAAAAAAAAAAA HA HA HA HA HA HA!

Got a bridge I will let go cheap. Give $100,000 toward closing costs, pay taxes for the next ten years, and other will soon be willing to buy for $5,000,000 more.

BWAAAAAAAAAAA HA HA HA HA HA HA!

By Curious

June 13, 2007 6:00 PM | Link to this

Jeff da Man!

By Curious

June 13, 2007 6:14 PM | Link to this

I could not find.

Did she tell you, Jeff, where on her web site we can find a list of her very motivated sellers who have recently cut their asking prices by 30-50%?

By Carlie Carlisle

June 13, 2007 6:54 PM | Link to this

We are off 10% “from the record?”

That “record” was all of 600-something houses bought under duress in the wake of a hurricane.

Jeff Dear, are you being insincere?

Or are you really that stupid?

I wonder where people get the idea that Polish people are stupid.

By Carlie Carlisle

June 13, 2007 6:55 PM | Link to this

We are off 10% “from the record?”

That “record” was all of 600-something houses bought under duress in the wake of a hurricane.

Jeff Dear, are you being insincere?

Or are you really that stupid?

I wonder where people get the idea that Polish people are stupid.

By oooooh nooooo!

June 13, 2007 6:59 PM | Link to this

with Roger/Maxi gone, Curious thinks it safe for him to come out and play!

ooooo noooo!

Curious, you are still the stupidest person in Florida. And that’s pretty stupid.

By To Carlie Carlisle

June 13, 2007 8:15 PM | Link to this

Max, is that you?

The last post from Carlie Carlisle certainly sounded like our Ghost, our Max, whatever he is these days.

I think Max is now a female persona. OMG.

By Curious2

June 13, 2007 8:28 PM | Link to this

A large % of homeowners trying to sell are the recent HOUSING BOOM buyers, realtors/speculatorwho set the comps. Who are they trying to fool now and buy their crap that they dont even want and have headaches over and arguments about. Pathetic.

By Curious

June 13, 2007 9:36 PM | Link to this

Agree with those above.

Seems like some shallow water stoops on this forum seem to think they can increase their intellectual draft by surreptitiously posting under different names. Almost never works and results in their clumsy groundings and a lot of laughs for the rest of us.

:-)

By Laughs

June 13, 2007 10:42 PM | Link to this

Most of the laughs are from comical Curious catachresis when he reaches for vocabulary beyond his grasp.

By 1042pm is maxi

June 13, 2007 11:05 PM | Link to this

we can spot him a mile away

By "1042pm is maxi" is maxi

June 13, 2007 11:34 PM | Link to this

Very funny, Roger, but I know my own posts.

By Sick of Racists

June 13, 2007 11:55 PM | Link to this

Carlie Carlisle wrote: I wonder where people get the idea that Polish people are stupid.

I don’t like Jeff’s column a bit - it’s myopic, defensive and sarcastic - poor substitutes for a true defense of the media’s ‘so called’ reporting.

But generalizing as you did is ignorant racism (yes i know thats redundant) at best.

Argue with Jeff on the merits of his article - attacking him for his name makes YOU look stupid…

JEFF: I hope you were paying attention to the criticism I directed to you - you resorted to childish sarcasm in defending you/the media against deserved criticism by these realtors. Here’s a clue:

IT’S ONE thing for the media report factual positives and/or negatives, it’s another for the balance to be out of whack to advance a particular agenda.

And if you think the media doesn’t have ITS OWN AGENDA whether its the RE market or the fake war in Iraq, you must be new to the media - or not paying attention.

By Too funny

June 14, 2007 7:10 AM | Link to this

Haaaaahaaaaa…..

Realtors have been saying it’s a good time to buy for about a year.

Not to mention they said we hit the bottom back in September of last year.

They’re desperate. They may fool some all the time. They may fool all some of the time. But they’ll never fool everyone all the time….

By BIG ROB

June 14, 2007 8:48 AM | Link to this

Folks its a great time to buy.Now we dont have to pay the note on a depreciating asset.

By cw1900

June 14, 2007 10:23 AM | Link to this

Wake Up mentioned that I forgot to mention spending caps on our govt spending. Yes, he’s right, and none of this so called property tax reform is any good without very tight spending caps on all local and state govts, all taxpayer funded anything, and that includes fire, police, and education. That is the key and I don’t believe any of it will happen. The scare tactics do intimidate the ignorant and the backbone-challenged among us.

As I said yesterday, this is going to end very badly for those of you who really thought your property tax bill was going to be lowered substantially. Not only will it be a pittance for a year or two, but I predict your tax bills will be double what they are today in 5 or 6 years. If any area of the state is going to benefit, it’s north florida. South Florida is going to wind up paying the largest chunk, no doubt.

Spending caps? Wow. It is upotia for us taxpayers, but we are only dreaming.

Have you all forgotten about your insurance reform? What happened there? I thought the men on white horses up in Tallahassee were supposed to gallop on in to Palm Beach County and save the day? Your saviors really do care about you people, don’t they?

To put it in perspective, I talked to a guy yesterday who’s brother and family lives in upstate New York around Rochester. The old house they live in was built in the 50’s, archaic and laughable to the “The $30 Starbucks cup of coffee” crowd, and the first time homebuyer crowd who think they’re entitled to their 5000 sq ft starter home for $200,000. The house up there is worth not even $250,000 and would you like to hear what the guy said the property tax bill was for that place? $11,000. Yes, you people, I said $11,000. Florida has been too cheap for too long, and I’ve loved every minute of it, as all of you have too, but it’s over. Accept it.

As I said before, you’re taxes are only going to go up….alot, and the faster you make plans to accomodate it or leave to the Promised Land of Georgia and Alabama, the better off you will be.

This spigot on the radiator flush is about ready to get turn up higher to maximum flow once the people who counted on a false hope of getting rid of their property taxes, have finally realized they were living in fantasyland.

BTW, the cw hater last night was right. Maybe it wasn’t the pool boy, but no, I didn’t get laid last night. I didn’t even get “layed” either. Well, not tonight either. You never know with these women today, you let em’ drive, give em’ the right to vote, heII, we even let em’ smoke if they want to, and look what happens. I can’t even get a home cooked meal when I get home. They’re off to the lakehouse for the summer, and I’m left to fend for myself with a Bud Lite, a Publix sub, and the Marlins on tv. Ok, maybe 2 Bud Lites…. Ok, ok, it was 3. Leave me alone. I can’t cook worth a crap.

cw

By Nascar WIllie

June 14, 2007 11:24 AM | Link to this

The take in Alabama is going to be huge! All this talk has people packin their rigs and movin on up here. Taxes-not a problem up here. Our education system is financed pretty strong by the taxes we do pay. Heck, the local school just got new bathrooms installed. Doors and everything.

I’ve been lookin around the archivals lately and you guys need to pay more respect to Rich R. This guy is keen. Me, I’m still trying to pull some words of wisdom from ole’ Rich but I believe there are others lookin for wisdom from him also. There’s some land up here a friend is selling. Lots of rumors goin round town. Some seys they seen Ponch from Chips up here a few weeks ago. I know he’s made a ton of dough sellin land down south. Get in while you can!!!

Latest news up here is bout a man who just sold his 35 acres to a new york type for almost $45k. Ain’t that the type of thing to want to make you shuck corn with an axe? Rich, how much does land cost in your neck of the woods?

By Is Signed now Nascar Willie?

June 14, 2007 11:37 AM | Link to this

They sound similiar.

By Wondering

June 14, 2007 11:47 AM | Link to this

Can you picture CW at home all by himself in a pair of old shorts and no shirt scratching himself watching Espn? Lol.

I wonder if he splurged for cable, or is he still using rabbit ears, lol.

Too funny.

By Get in the Game

June 14, 2007 12:07 PM | Link to this

In the end, I am confused with all the hype poised towards the residential sector. The prices doubled from 2000-2005, and in many cases in FL, much more than that. Florida homeowners should be running to the bank, not crying so much. You could be living in Oklahoma, Indiana, or Detroit…enjoy those returns.

So, if you have a 130%+ increase over five years, cash out. If you do not need to cash out, wait.

Any institution (CALPERS, Harvard Endowment Fund) or private entity (Warren Buffett) would LOVE 25%+ returns for five straight years (for doing nothing). Why again, doesn’t CALPERS, Harvard, or Warren Buffett own any residential real estate? Oh yeah, almost forgot, they are not S-E-E-I-N-G the true value in the pricing.

In most cases, no improvement in fundamentals, adding significant value (square footage, not the APPEARANCE of value (L-U-S-H landscaping and some paint)), or anything besides just sitting there was done to most properties, but still furnishing a 25%+ yield?

The S&P 500 just took 7 years to rebound from all-time highs; but

Residential real estate IS different, IS insulated, you truly mean IS an emotional wreck of “opinion of value”, inefficiency, and immunity from the supply/demand fundamentals that apply to just about everything else in the open market.

So what if FL home prices drop 10% - 15% in 2007; AND

Another 10% - 15% in 2008…SO WHAT

Does it truly matter? The individuals who acquired properties in 2000-2002, in most cases STILL have a 100%+ return WITH the drop in prices.

So, again why is everyone crying?

Take your profits (which are better than most asset classes for doing NO work); or

Wait until 2009/2010 when the market returns to 25%+ annual appreciation, once again.

Trust me, not many people were complaining (even the NAR/FAR cheerleaders) when prices were clipping at 25%+ returns in many areas of the country in the 2002-2004 timeframe. So, why start complaining now?

By BIG ROB

June 14, 2007 12:28 PM | Link to this

Nascar willie if land is soo cheap in them thar woods.Can I gets me some land in suwannee county FL for da same prices?

By NASCAR Sillie

June 14, 2007 1:48 PM | Link to this

see folks, what I’m tryin’ to say here is that, well I don’t really know what I’m tryin’ to say I never did finish any schoolin’ past the seventh grade. That’s when I knocked up my cuz’n Louweezy Mae and had to go get a job to earn me sum money and make things right with her Paw, errr I mean my Uncle Jedidiah….

Now I did find out that I got me a new neighbor by the name of Wallace. Good southern boy that Wallace is. He moved his family up to these parts to escape that s@@thole of S Florida. Bought him about 80 acres and a house for $270,000…

Now his boys get to ride the bus for 2 hours each way to the school house every day…well shoot it’s that or they walk up hill both ways in the snow with no shoes…

By NASCAR Sillie

June 14, 2007 1:50 PM | Link to this

help! help! I can’t see…my heads so far up Rich R.’s a@@ I can’t see…

By NASCAR Sillie

June 14, 2007 2:13 PM | Link to this

Hey - ya’ll know what I really like about NASCAR? It’s the beer, just sittin’ on the ole sofa and drinkin’ me sum beer. Shore ‘nuff I’m glad I taught my boys how to fetch me a beer from the fridge. That little one, well he’s been doing that since he could crawl.

NASCAR Sillie out.

By NASCAR Sillie

June 14, 2007 2:32 PM | Link to this

Sillie here again. Any ya’ll know a respectable dentist? I just cracked my last good tooth on a beer bottle tryin’ to pop the cap off. Hurts like the dickens. I am such a dumb a@@ redneck I don’t know what to do with m’self.

Toothless screechin’ out.

By Rich R

June 14, 2007 2:50 PM | Link to this

i have only one thing to say to NASCAR

NASCAR=Non Athletic Sport Centered around Rednecks

No suprise here.

By NASCAR Sillie

June 14, 2007 3:41 PM | Link to this

I though we wuz kin there Rich, after all my head’s still crammed square up yer keester.

I guess it’s just you and Willie that’s friends.

All right I’ll remember that next time you’s up in my neck o’ the woods.

what the hell’s that smell? Can ya’ll smell that? Like limburger on a radiator.

Willie? where the heck are you? Rich done gone off the reservation on us.

By Nascar WIllie

June 14, 2007 3:51 PM | Link to this

Nascar comin at ya, full speed.

Stranger than a winged fish in a bass tournament.

Just lookin for some info here from Rich. Ya’ll sure are resentin ole Nascar. I done my research on this blog. Rich R been schoolin everybody for years on here. Say what you want, I ain’t gettin into it with anybody on here.

Rich, can you give me that email address you have again so I can contact you bout my friend with the land?

By Rich R

June 14, 2007 4:58 PM | Link to this

NO!

By NASCAR Sillie Billie

June 14, 2007 5:05 PM | Link to this

Heck I ‘member this one time I was fishin’, I caught me a big ole mutant bass, had three eyes and two of them top, what do they call that?, dorsal fins yeah, them things. That was the weirdest damn thing I seen since my cuz’n Tommy Ray stuck his pecker in a hornet’s nest. That boy’s weiner looked all bumpy and blowed up fer a month.

Sillie Billie slidin’ on by.

By Rich R.

June 14, 2007 5:51 PM | Link to this

Ah’s sorry Nascar Willie, I jes gets the “willies” a bit in fron of city folk. You can wraht me at:

psychnet@yahoo.com

or wraht the real brains behind ma operation, John:

jgillen7@msn.com or john.j.gillen@verizon.com

He say he ain’t no john gillen but he’s jes full o’ you know wut.

By Christel Silver

June 14, 2007 8:39 PM | Link to this

I also asked Jeff to give Realtors some advice from his perspective, what he suggests we do to get objective reports into the media? And I do not mean positive - just objective! He never answered my question. Maybe he can elaborate on this blog. Thanks Jeff! Christel

By Carlie Carlisle

June 14, 2007 9:46 PM | Link to this

Christel, Jeff understands about as much about real estate as NASCAR SILLY WILLIE understands about brain surgery. Don’t be disappointed if you don’t receive enlightenmnet.

By SomegoUpSomeDown

June 14, 2007 10:04 PM | Link to this

7028 Caviro 05/07 462K 7/06 483K

610 Clematis

5/07 235K 1/06 250K

670 Fern

5/07 609K 11/05 629K

4220 SanMarino

5/07 149K 4/05 154K

5412 Queenship Ct

4/07 328K 9/05 353K

7918 Rockport Cir

5/07 315K 5/06 412K

10456 Cypress Lakes

4/07 480K 4/06 600K

9339 Sedgewood Dr

5/07 502K 11/05 669K

2048 Alta Meadows

5/07 225K 4/05 230K

9661 Vineyard

5/07 480K 5/05 545K

301 DelRio

5/07 300K 12/06 320K

4112 Emerald Vista

4/07 224K 11/06 234K

12757 Spikerush

5/07 540K 6/05 545K

5 Surrey Rd

5/07 522K 7/05 639K

113 Viera Dr

5/07 820K 10/06 850K

By I Miss Roger

June 14, 2007 10:19 PM | Link to this

Yep, Another malarkey peddler who thinks it is safe now that Maxi/Roger is gone. Wasted space. Prices are stuck, but most resales are for big bucks in profit.

By History

June 14, 2007 10:54 PM | Link to this

“At this point, almost anybody could invest in Florida, even without much money. Credit was plentiful and soon everybody in Florida was either a real estate investor or a real estate agent.”

http://www.stock-market-crash.net/florida.htm

Always good to remember history lessons.

By TO "SomeGo"

June 14, 2007 11:11 PM | Link to this

Gee, Professor, how did you miss these?

610 Clematis #207

2/07 340K 11/06 180K

610 Clematis #419

5/07 292K 11/06 267K

WOW - You mean to tell me your flagship for disaster, 610 Clematis is a winner after all, with people making money in 3 months by flipping, exactly when you were crowing about them losing their shirts???? Well, gaws-aw-ly!!! Folks, go see PAPA to find out the truth!

How about these, Genius?

1903 Sherwood Forest

5/07 259K 11/06 180K

750 Milburne Ct. #1432

5/07 275K 3/06 244,274

500 Broward Ave. 5/07 286K 4/06 215K

Whah happened? You mean while all the Bozo’s here were crowing about everyone losing money — those very same days people were buying to flip and scoring in a few months?

Well shut my mouth! Or better yet, shut the lying idiots’ PC’s off.

Sorry, but I don’t have the patience of an idiot, to paste 1000 sales here.

By Captain Lou

June 15, 2007 11:04 AM | Link to this

If realtors say it is such a good time to buy, doesn’t that mean its a bad time to sell? Supply and demand is not rocket science, but what did you expect from realtors.

By Old Dog Realtor

June 16, 2007 8:25 PM | Link to this

Hold on to your shorts Sally because prices are off 15% and still dropping.

Enjoy…

By Tom Newbery

June 17, 2007 7:39 PM | Link to this

Re; Jeff Ostrowski’s ‘attack’ on Christel for reporting a ‘fact’ about FL’s major RE market problems from a national conference in DC. Christel is a knowledgeable professional. Ostrowski’s response was unprofessional. Maybe that is why my 23yr S-S subscription was billed @ $183 while S-S offers the same to a new subscriber for $80 less…..Is readership off Jeff??? Maybe people no longer like to be hyped with ‘Op-Ed’ material under sensationalistic headlines on the front page under the guise of factual reporting… Grow up Jeff, learn your ‘trade’ and fake a level of professionalism so that you don’t have to be sarcastically demeaning to one who is a pro ! Just report the facts or put it on the Op-Ed page! Tom

By Tom Newbery

June 17, 2007 7:40 PM | Link to this

Re; Jeff Ostrowski’s ‘attack’ on Christel for reporting a ‘fact’ about FL’s major RE market problems from a national conference in DC. Christel is a knowledgeable professional. Ostrowski’s response was unprofessional. Maybe that is why my 23yr S-S subscription was billed @ $183 while S-S offers the same to a new subscriber for $80 less…..Is readership off Jeff??? Maybe people no longer like to be hyped with ‘Op-Ed’ material under sensationalistic headlines on the front page under the guise of factual reporting… Grow up Jeff, learn your ‘trade’ and fake a level of professionalism so that you don’t have to be sarcastically demeaning to one who is a pro ! Just report the facts or put it on the Op-Ed page! Tom

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