{"id":1046,"date":"2007-02-14T21:59:04","date_gmt":"2007-02-15T04:59:04","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1046"},"modified":"2007-02-14T21:59:04","modified_gmt":"2007-02-15T04:59:04","slug":"spac-disease-reaches-pandemic-proportions","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1046\/spac-disease-reaches-pandemic-proportions\/","title":{"rendered":"SPAC Disease Reaches Pandemic Proportions"},"content":{"rendered":"
Seller’s Price Perceptions Cause National Uproar<\/em><\/strong><\/p>\n

In today’s real estate market, the refrain from Realtors is the same: “These sellers are living in La La Land (or Neverland<\/a>). Everyone is thinking their home is worth much more than it is. We can’t get them to see the truth!” Alas, the “truth” is that this is an age-old problem that is not necessarily intrinsic to any particular market, but may be a little worse than normal in 2006-07. The history books are replete with examples dating as far back as the paleolithic period of neanderthal men and women chasing Realtors from their caves with raised clubs over a price dispute. This euphoric optimism of the common home seller has been studied by the American Medical Dissociation, and it has coined a neologism: Schitzo Prospectus Actualis Capitalis<\/em>. (Editor’s Note: a break with reality concerning the expectation of material gain.)<\/em><\/p>\n

The acronym, SPAC (pronounced “Space”), has entered modern parlance to speak of sellers with the disease. “Spacers,” as these unfortunates have become known, appear to be causing Realtors apoplectic frustration. But what is this disease, and how has it reached epic proportions?<\/p>\n

One of the contributing factors of the disease appears to be neighborhood gossip. It is not uncommon for homeowners in a given community to keep each other apprised of the going rate for homes through the neighborhood grapevine. Our reporter asked a local homeowner to give her opinion of her home’s value:<\/p>\n

WUSA Reporter: “What do you think your home is worth today, Mrs. Bon-Mot?<\/p>\n

Mrs. Bon-Mot: “Well, the Pastiche’s place down on Maple Drive is very similar to ours, and his sold about a month ago for $525,000. It took him a couple of months to sell, the market being what it is, but it did sell. Now, our home has Teflon wallpaper, which his didn’t. Also, we have an above-ground pool that the kids just love. Oh, we also got a new air conditioner about, oh. . .ten years ago? Yeah. All these things add up! So, I would expect that we could get about $550,000, maybe $560,000.<\/p>\n

Our intrepid reporter, Read more<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Seller’s Price Perceptions Cause National Uproar In today’s real estate market, the refrain from Realtors is the same: “These sellers are living in La La Land (or Neverland). Everyone is thinking their home is worth much more than it is. We can’t get them to see the truth!” Alas, the “truth” is that this is […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1046","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":253,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/253\/when-realtors-become-as-stupidly-hyperbolic-as-the-bubbleboys-thats-news\/","url_meta":{"origin":1046,"position":0},"title":"When Realtors become as stupidly hyperbolic as the bubbleboys, that’s news…","author":"Greg Swann","date":"August 26, 2006","format":false,"excerpt":"Apparently, about 200 Phoenix-area Realtors got together Thursday night for some group therapy:About 200 agents gathered at the Southeast Valley Association of Realtors in Mesa to hear tips from top achievers on how to sell homes and handle clients in this transitional market.We don't belong to SEVRAR, so we weren't\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2992,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2992\/will-realtors-be-disintermediated-by-on-line-tools-probably-not-but-tech-savvy-realtors-will-supplant-those-who-do-not-adapt\/","url_meta":{"origin":1046,"position":1},"title":"Will Realtors be disintermediated by on-line tools? Probably not, but tech-savvy Realtors will supplant those who do not adapt","author":"Greg Swann","date":"April 20, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Will Realtors be disintermediated by on-line tools? Probably not, but tech-savvy Realtors will supplant those who do not adapt The big news in real estate is the market, of course. My view is that the American economy\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/137\/if-you-cant-tell-the-truth-tell-a-big-lie\/","url_meta":{"origin":1046,"position":2},"title":"If you can’t tell the truth, tell a Big Lie . . .","author":"Greg Swann","date":"July 26, 2006","format":false,"excerpt":"Zillow.com cannot tell the truth about home values, so it is releasing an Application Programmer Interface to spread its misinformation far and wide. Who do they hope to enlist with their API? Working Realtors, the people who know best that Zillow.com's property evaluations are necessarily and unavoidably false. Could the\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/68\/in-the-battle-of-the-baseball-cards-the-biggest-shoe-box-wins\/","url_meta":{"origin":1046,"position":3},"title":"In the battle of the baseball cards, the biggest shoe-box wins — but Realtors who master the art of marketing homes will be fine","author":"Greg Swann","date":"June 28, 2008","format":false,"excerpt":"[This post appeared on BloodhoundBlog on June 30, 2006, our second day. I'm reprising it now as a part of our birthday celebration. It's fun for me to see how much of what I talk about here was with us on our very first days. --GSS] \u00a0Cathleen and I live\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":570,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/570\/starving-realtors-want-to-know-how-do-you-charge-a-premium-price-for-a-commodity-that-is-not-in-short-supply\/","url_meta":{"origin":1046,"position":4},"title":"Starving Realtors want to know: How do you charge a premium price for a commodity that is not in short supply?","author":"Greg Swann","date":"October 25, 2006","format":false,"excerpt":"I love it! Inman Blog cites an amazing open letter from the Minnesota Association of Realtors to its membership. The gist: Real estate brokers are retards but it's not their fault! Wait, that's not right. What it says is, if you're not making money as a Realtor, you should probably\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":413,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/413\/blogoff-post-36-ask-the-broker-why-do-people-hate-realtors\/","url_meta":{"origin":1046,"position":5},"title":"Blogoff Post #36: Ask the Broker: Why do people hate Realtors . . . ?","author":"Greg Swann","date":"September 26, 2006","format":false,"excerpt":"The question is Cathy's, and it really plagues her:Why do people hate Realtors?It's funny, truly, because almost nobody hates his own Realtor. Some people have real horror stories to tell, but most people don't. To the contrary, most people have very happy, funny, charming stories to tell about the Realtor\u2026","rel":"","context":"In "Ask the Broker"","block_context":{"text":"Ask the Broker","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ask-the-broker\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1046"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1046\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}