{"id":3033,"date":"2008-04-28T13:07:56","date_gmt":"2008-04-28T20:07:56","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=3033"},"modified":"2008-05-02T08:46:27","modified_gmt":"2008-05-02T15:46:27","slug":"save-a-house-ride-a-realtor%c2%ae","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3033\/save-a-house-ride-a-realtor%c2%ae\/","title":{"rendered":"Save a House, Ride a REALTOR\u00ae"},"content":{"rendered":"

(If you are not a country music fan, you may have a serious character flaw, but that is the subject of another post on another Blog.\u00a0 For now, here is a video that will help you \u201cget\u201d the title of this post.)<\/em><\/p>\n

Save a Horse, Ride a Cowboy<\/a><\/em><\/p>\n

Across the nation, in most markets, we not only have too many listings, we also have too many overpriced listings.\u00a0 It is true in Charlottesville; it\u2019s true in Atlanta, Austin, and Atlantic City.\u00a0 I know it is true even without looking at the local statistics for all these markets because \u201ctoo many listings\u201d and \u201ctoo many overpriced listings\u201d goes hand in hand.\u00a0 The basic law of economics \u2013 supply and demand \u2013 dictates that prices will adjust downward when supply is too high.\u00a0<\/p>\n

Following that logic, what we need is a good old fashion INVENTORY REDUCTION SALE!<\/em>\u00a0 Can you picture this ad as part of the NAR public awareness campaign?<\/p>\n

\"reduction\"\u201cHi, I\u2019m Charles McMillan, President-elect of the National Association of REALTORS\u00ae and I\u2019m here to announce an across the board 30% reduction in home prices.\u00a0 That\u2019s right, this is the REALTOR\u00ae Spring Spectacular event of a lifetime.\u00a0 Buy before July 1st<\/sup> and save BIG on any home in any market.\u201d<\/p><\/blockquote>\n

Okay, that\u2019s not going to happen, nor could it.\u00a0 The real estate market is not like the market for toilet paper at Wal-Mart.\u00a0 In real estate, we have something like five million owners (sellers) of the \u201ccompany\u201d that would have to approve an across the board price reduction.\u00a0 That\u2019s a lot of decision makers even by Wal-Marts standards.<\/p>\n

Some sellers have figured out the economics of the current market and agreed to price their home correctly.\u00a0 Guess what?\u00a0 Those are the homes that are selling.\u00a0 In the CAAR MLS, homes that sold in March sold after and average of 130 days on the market (DOM).\u00a0 That\u2019s not a particularly good number, but it beats the 149 days (and counting) that the current active inventory is averaging for DOM.\u00a0 In addition, a closer look at the numbers will show that many of the homes that sold in March, sold quickly; Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(If you are not a country music fan, you may have a serious character flaw, but that is the subject of another post on another Blog.\u00a0 For now, here is a video that will help you \u201cget\u201d the title of this post.) Save a Horse, Ride a Cowboy Across the nation, in most markets, we […]<\/p>\n","protected":false},"author":35,"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":[12,6,5],"tags":[],"class_list":{"0":"post-3033","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-ask-the-broker","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3405,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3405\/heres-one-way-to-rid-the-mls-of-overpriced-listings\/","url_meta":{"origin":3033,"position":0},"title":"Here’s One Way To Rid The MLS Of Overpriced Listings","author":"Doug Quance","date":"July 20, 2008","format":false,"excerpt":"This Idea Is Submitted With Tongue Buried Deep In Cheek Sometimes I can only shake my head as I look at some of the listings in the MLS. Most good agents won't take a listing that is overpriced... and if so, it's usually not overpriced by much. When studying recent\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":2531,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2531\/is-roostcom-roosting-on-the-brass-ring-start-up-realtybot-comes-to-market-with-two-firsts-mls-listings-and-a-business-plan\/","url_meta":{"origin":3033,"position":1},"title":"Is Roost.com roosting on the brass ring? Start-up Realty.bot comes to market with two firsts: MLS listings and a business plan","author":"Greg Swann","date":"January 23, 2008","format":false,"excerpt":"What if somebody built a Realty.bot that seemed to make sense from Day 1? What kind of goof-ball strategy is that in the wacky world of Web 2.0? I don't know if Roost.com really has a business to bank on. The search.bot horizons are starting to look a little crowded.\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":1656,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1656\/fear-factor-who-makes-a-real-estate-market\/","url_meta":{"origin":3033,"position":2},"title":"Fear Factor – Who Makes a Real Estate Market?","author":"Kris Berg","date":"July 14, 2007","format":false,"excerpt":"What factors contribute to price declines in a downward trending market? Interest rates, affordability, demand, and consumer confidence to name a few. Today, I have a new one: Crappy agents. My beef of the week is the confidence crisis I see among agents, at least in my local market, and\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":1421,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1421\/a-move-towards-mediocrity-and-beyond\/","url_meta":{"origin":3033,"position":3},"title":"A Move Towards Mediocrity – And Beyond","author":"Doug Quance","date":"May 13, 2007","format":false,"excerpt":"Many Agents Choose To Be Less Than They Can Be In an industry overflowing with too many agents chasing too few opportunities, one might think that this level of competition would cause an overall increase in the professionalism and dedication of its principals. I submit to you - that's not\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":10040,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10040\/leading-with-listings-systematically-getting-a-few-clicks-from-twitter-and-using-some-lazy-math-to-justify-the-effort\/","url_meta":{"origin":3033,"position":4},"title":"“Leading” With Listings, Systematically Getting (A Few Clicks) From Twitter, And Using Some Lazy Math To Justify The Effort…","author":"Ryan Hartman","date":"October 12, 2009","format":false,"excerpt":"So, it looks like the Twitter.Com\/229RockGlen account is generating 3-7 clicks\/day back to the web page linked from the profile. I think I can see how an agent with 10 or more listings might start to see some results employing the 1 Twitter account per property approach. I mean, why\u2026","rel":"","context":"In "Abusing Twitter"","block_context":{"text":"Abusing Twitter","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/abusing-twitter\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16987,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16987\/overnight-news-take-that-doubters-all-ibuyers-ever-needed-to-succeed-was-a-pandemic-rioting-and-a-buyer-feeding-frenzy-totally-sustainable\/","url_meta":{"origin":3033,"position":5},"title":"Overnight News: Take that, doubters! All #iBuyers ever needed to succeed was a pandemic, rioting and a buyer feeding-frenzy! Totally sustainable!","author":"Greg Swann","date":"September 12, 2020","format":false,"excerpt":"Redfin: Everything about the iBuyers is funny, especially their Special Olympics approach to self-congratulation. Whose listings sell last and worst? But who is delighted to have had a national feeding frenzy to clear their overpriced inventories? iBuyer Activity Ground to a Halt in the Second Quarter, With Market Share Plummeting\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3033","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=3033"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3033\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=3033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=3033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=3033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}