{"id":985,"date":"2007-02-02T18:57:42","date_gmt":"2007-02-03T01:57:42","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=985"},"modified":"2007-02-02T19:05:31","modified_gmt":"2007-02-03T02:05:31","slug":"the-first-honorary-cheez-whiz-prize-my-currencycom-where-play-money-is-play-wisdom","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/985\/the-first-honorary-cheez-whiz-prize-my-currencycom-where-play-money-is-play-wisdom\/","title":{"rendered":"The First Honorary Cheez-Whiz Prize: my-currency.com, where play money is play wisdom"},"content":{"rendered":"

When I was a child, I used to love to play Monopoly with my kid sister, Pammy. She was sweet and passive and just wanted to play, where I’m the most competitive<\/a>. I would routinely put her six figures in debt, then just keep lending her more and more money, so that I could put hotels on absolutely everything.<\/p>\n

I think this proves that I am an incomparably talented real estate investor. Kirk Kerkorian owns three of the four corners of the intersection of Tropicana and Las Vegas Boulevards. But the only difference between us, as real estate investors, is that Kirk is playing with real money, where I was playing with play money.<\/p>\n

That can’t<\/i> be much of a difference. Can it?<\/i><\/p>\n

If you’re thinking, “Who would bother to answer such a dumb question?” — there is an answer: my-currency.com<\/a>, a brand new Zillow.com<\/a> wannabe that is even stoopider than an AVM for pricing homes.<\/p>\n

The site explains itself in a particularly soft-skulled newage style:<\/p>\n

CrowdValue is where we process everyone’s idea of value for specific problems – such as “What is the value of a house for sale” or “what will be the value of a square foot in 6 months in my neighborhood”? So in that regard, CrowdValue is exactly like the stock exchange – it brings people together to coordinate all the different views of value and settle on an equilibrium price, at a point in time. CrowdValue is a trading engine and marketplace.<\/p><\/blockquote>\n

No, CrowdValue is a silly, masturbatory game. Stock prices are not equilibria, they are a consensus among buyers and sellers about real values. A play money stock market is as dumb as… a play money real estate market.<\/p>\n

An AVM is at least rational enough to make guesses about what real traders might do. There is no value whatever in making guesses about what pretend traders will do with pretend money. Most espec<\/i>ially since real buyers and real sellers are the only<\/i> people who can establish the market value of real property, by negotiating to a meeting of the minds.<\/p>\n

I’ll award the first Odysseus Medal next week, but this week Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

When I was a child, I used to love to play Monopoly with my kid sister, Pammy. She was sweet and passive and just wanted to play, where I’m the most competitive. I would routinely put her six figures in debt, then just keep lending her more and more money, so that I could put […]<\/p>\n","protected":false},"author":1,"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":[13,6,5,22],"tags":[],"class_list":{"0":"post-985","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-casual-friday","7":"category-marketing","8":"category-real-estate","9":"category-the-cheez-whiz-prize","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1146,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1146\/do-you-want-cheez-whiz-with-that-weenie\/","url_meta":{"origin":985,"position":0},"title":"Do you want Cheez-Whiz with that weenie?","author":"Greg Swann","date":"March 14, 2007","format":false,"excerpt":"The comparison of the life of man to a race, though it holdeth not in every point, yet it holdeth so well for this our purpose, that we may thereby both see and remember almost all the passions before mentioned. But this race we must suppose to have no other\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":1082,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1082\/the-odysseus-medal-inmans-real-estate-weblogging-coverage\/","url_meta":{"origin":985,"position":1},"title":"The Odysseus Medal: Inman’s real estate weblogging coverage","author":"Greg Swann","date":"February 26, 2007","format":false,"excerpt":"(I was going to award The Cheez-Whiz Prize to Google's applications suite, but I decided not to bother. 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Allen Butler dealt with the audio quality, and then Cathleen and I went through the recording, pulling out apposite quotes\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":13471,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13471\/because-bloodless-revolutions-are-sexy\/","url_meta":{"origin":985,"position":3},"title":"Because bloodless revolutions are sexy","author":"Teri Lussier","date":"November 2, 2010","format":false,"excerpt":"","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2010\/11\/Pretty-girls-vote.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1051,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1051\/hugg-a-house-or-hug-your-realtor-discerning-motivation-in-the-pursuit-of-residential-bliss\/","url_meta":{"origin":985,"position":4},"title":"Hugg a house or hug your Realtor? 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