{"id":3004,"date":"2008-04-22T04:21:38","date_gmt":"2008-04-22T11:21:38","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=3004"},"modified":"2008-04-22T08:39:48","modified_gmt":"2008-04-22T15:39:48","slug":"is-it-a-great-time-to-buy-or-just-a-great-time-to-be-a-buyer","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3004\/is-it-a-great-time-to-buy-or-just-a-great-time-to-be-a-buyer\/","title":{"rendered":"Is It A Great Time To Buy, Or Just A Great Time To Be A Buyer?"},"content":{"rendered":"

I\u2019ve said it my self hundreds of times in the last 12 months \u2013 it\u2019s a great time to buy.\u00a0 How could it not be a great time to buy \u2013 tons of inventory, prices have come down, interest rates are still low \u2013 of course it is a great time to buy.\u00a0 Or is it?\u00a0 Whenever I shout \u201cit\u2019s a great time\"house\"\u00a0to buy\u201d in a particularly loud fashion (generally quoted in the local newspaper), I get an e-mail from some intelligent sounding person saying, \u201cno it isn\u2019t.\u201d\u00a0 Here let me give you the latest example that was spurred by a front page story<\/a> on a local promotion to promote first time home buying:<\/p>\n

(unedited)<\/p>\n

Let me see if I have this correct:<\/em>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/em>House prices are falling;<\/em>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Houses are not selling at a rate which will support<\/em>realtors, because no one wants to buy a depreciating asset;<\/em>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 So, realtors want to sell more houses;<\/em>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Therefore, they target first time buyers, who<\/em>presumably know the least about the pitfalls of homeownership and are the most likely to try to \u2018catch a falling knife.\u2019 <\/em>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The lines they use in their propaganda are the same<\/em>used nationally in every newspaper article on housing which publishes a realtor quote, to-wit \u201cnow is a great time to buy,\u201d or \u201cit\u2019s a perfect storm.\u201d<\/em>Why do I find this reprehensible?<\/em>\u00a0<\/p><\/blockquote>\n

In case you did not read the story I linked, just suffice it to say that we are doing a major local promotion to educate new home buyers on the new issues with financing and promoting them to purchase a home from the massive inventory.\u00a0 Self-serving, yes, but there are also great benefits for sellers, mortgage bankers, others in the real estate business, and for the general economy.\u00a0 Locally, people look to us to lead and that\u2019s what we are doing.\u00a0 Fortunately, our local economy is insulated from the national issues that are present in other areas.<\/p>\n

The real issue in this rant is the claim that it is NOT a good time to buy because \u201cno one wants a depreciating asset.\u201d\u00a0 Of course every market is different and prices have fallen here in Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I\u2019ve said it my self hundreds of times in the last 12 months \u2013 it\u2019s a great time to buy.\u00a0 How could it not be a great time to buy \u2013 tons of inventory, prices have come down, interest rates are still low \u2013 of course it is a great time to buy.\u00a0 Or is […]<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[5,10],"tags":[],"class_list":["post-3004","post","type-post","status-publish","format-standard","hentry","category-real-estate","category-realty-reality","no-featured-image"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1775,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1775\/the-national-association-of-realtors-is-simply-outrageous\/","url_meta":{"origin":3004,"position":0},"title":"The National Association of Realtors is Simply Outrageous","author":"Cooksquared","date":"August 8, 2007","format":false,"excerpt":"This title truly comes from the heart. Reading the Wall Street Journal today, I stumbled across the latest report from the lead economist at the National Association of Realtors. In the face of overwhelming negative information and despite their own lowered forecasts, Mr. Lawrence Yun states, Existing-home sales should be\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10155,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10155\/driveby-economics-8000-price-cut\/","url_meta":{"origin":3004,"position":1},"title":"Driveby Economics – $8,000 Price Cut?","author":"Tom Vanderwell","date":"October 22, 2009","format":false,"excerpt":"I had coffee yesterday with a long time friend of mine who works for a local title company.\u00a0\u00a0 We were talking about a variety of things, including some of the new stuff I'm working on on the web. The topic came around to the $8,000 First Time Home Buyer Tax\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18079,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18079\/how-to-fix-florida-homeowners-insurance-costs\/","url_meta":{"origin":3004,"position":2},"title":"How To Fix Florida Homeowner’s Insurance Costs","author":"Brian Brady","date":"April 25, 2021","format":false,"excerpt":"This morning, The Wall Street Journal sounded the alarm about the ticking time bomb in Florida real estate.\u00a0 It's behind a paywall but I will try to highlight some key points for you: 1- Florida homeowner insurance premiums are increasing by a double-digit percentage 2- Insurance companies are withdrawing from\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13550,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13550\/mama-grizzly-knows-sumptin-its-sunset-for-low-mortgage-rates\/","url_meta":{"origin":3004,"position":3},"title":"Mama Grizzly Knows Sumptin’: It’s Sunset For Low Mortgage Rates","author":"Brian Brady","date":"November 8, 2010","format":false,"excerpt":"One of the things I love about the internet is that links last.\u00a0 For your soap-operatic pleasure, Sarah Palin asks a national author if he read his own newspaper, when he criticized her remarks about inflation: So, imagine my dismay when I read an article by Sudeep Reddy in today\u2019s\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3363,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3363\/dont-learn-all-the-wrong-lessons-about-creative-mortgages\/","url_meta":{"origin":3004,"position":4},"title":"Don’t learn all the wrong lessons about creative mortgages","author":"Greg Swann","date":"July 15, 2008","format":false,"excerpt":"This is my column for last week from the Arizona Republic (permanent link). \u00a0Don't learn all the wrong lessons about creative mortgages Arguably, the Phoenix real estate market is in a state of incipient recovery. Will there be more bad news? Certainly. There are still thousands of homes stuck in\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3648,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3648\/mortgage-market-week-in-review-4\/","url_meta":{"origin":3004,"position":5},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"August 1, 2008","format":false,"excerpt":"Is it just me, or do Fridays keep coming around faster and faster? Maybe it\u2019s because I\u2019m so young! Any way, it\u2019s time for our \u201cMortgage Market Week in Review.\u201d We\u2019re going to focus on a couple of main topics for today: Jobs - the ADP report came out on\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3004","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\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=3004"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3004\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=3004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=3004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=3004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}