Sunday, December 10, 2006

Myth "The longer you wait the lower the Price."


Maria Chavez over at Realtytimes.com has an interesting piece out. She claims that the longer you wait the more you will pay. Tell that to those who bought in 2005 and are now underwater due to declining values (see my numerous previous posts on price drops):



Market Values have decreased, due increased inventory in available properties. This pressuring available properties to be reduced for quicker sale. Buyers take advantage; this benefits you as you have more choices, although this creates the Myth "The longer you wait the lower the Price." The problem with that is, we may see Interest rates increase, and that will make it more difficult for Buyers, as they may loose out of the good interest rates we still have. Sooner than later the present inventory of available properties will come back to normal, then we may see prices come back up.

http://realtytimes.com/rtmcr
cond/California~Bakersfield~mariachavez

21 comments:

Housing Wizard said...

Stupid . If the interest rates go up the prices will sink even more . This is especially true if the rates go over 7% Look at what happened when rates went to 6.50% from 5.5% Why do the realtors lie about what really happens ?

Anonymous said...

She said:
The problem with that is, we may see Interest rates increase, and that will make it more difficult for Buyers, as they may loose out of the good interest rates we still have. Sooner than later the present inventory of available properties will come back to normal, then we may see prices come back up.

OH great one more graduate of the great Casey Serin school of english. I think she's going to "loose" her mind and she is a "looser".
Cool.
Cow_tipping.

Bakersfield Bubble said...

HW-
AMEN. If rates rise there will be less supply of BUYERS. Rising rates will price more people out and decrease demand for homes and prices will decrease.

LIES!

Bakersfield Bubble said...

She is looking for a "sweet
deal. LOL

Anonymous said...

C'mon give the gal a break - she probably only has a ninth grade Bako public school education ;)

I suspect what she's trying to convey is that the monthly payment will increase as interest rates rise. She's correct about that, and a low payment (however brief) is the only thing that I/O and ARM borrowers are focused on.

If I/O & ARM borrowers had a functional forebrain, they'd ponder their future, say 1-3 years from taking the loan. But that's a subject for another post altogether.

Anonymous said...

Maria Chavez over at Realtytimes.com has an interesting piece out. She claims that the longer you wait the more you will pay.

She is just plain full of shit.

Rob Dawg said...

Rates ARE down. Prices ARE down. Sales ARE down. Chavez uses this set of information tosay some truly unethical things. First I want to make it absolutely clear that she needs to be reported to her board for claiming abslutely that inventory will return to normal. This is a blatant violation of every code she claims to uphold. Okay, big surprise a realtor talking out of both sides or her mouth.
Did anyone else notice she confuses loose and lose just like Casey Serin?

Housing Wizard said...

How can the realtors say that the market is going to surge in 2007 so buy now while it has hit bottom ?

Housing Wizard said...

I think the best course for realtors is to not make any predictions . Calling a bottom market or predicting a appreciation surge in 2007 to stress urgency in buying now just doesn't cut it .

smoggiebakersfield said...

If interest rate were to rise two full percentage points, you would see the market drop dead. This of course would force sellers to drop asking prices sharply, what the hell do these realwhores think is driving the current market? It's the rate! The rate has been fueling this out of whack market for the last five years or so!

I've seen listings being pulled off the MLS and expired listings not being relisted. Thats what happens during the Winter months and sure theres sellers waiting for Spring to come around to list or relist, hoping to make that 2005 deal in 2007, which won't happen.

Futhermore, exotic loans are now begining to reset and this is just the start. What happens to the market when buyers don't make their payments on these sub-prime loans, the bank repos the house, this leads to more inventory and theres plently of that coming to a neighborhood near you.

Sounds like the RE agent that wrote that pack of lies drank a little to much of her own Kool-Aid and the NAR's!

Anonymous said...

Nice try Maria. This logic has actually worked on a few of my friends. The problem is this has never been true due to the supply and demand issues you all talk about.

Anyhow, today’s FREE report on Chicago has been released! It joins prior FREE reports on Boston, Bakersfield, San Francisco, Seattle & Los Angeles.
thebubblebuster.com
 

Anonymous said...

Oh, I almost forgot! The other day my brother-in-law came into town wearing his blockbuster shirt which read "Renting is better than ever!" That got my thinking.

So I had him get a few more shirts and we ironed over the blockbuster logo (on the back of the shirt) and put a thebubblebuster.com logo.

Then we went to see 7 separate open houses / new developments. It was AWESOME to see these real estate agent faces once they realized what we we're doing! AWESOME!

Bakersfield Bubble said...

ANALYSIS GUY-

LMAO!!!

Do you have a pic of that shirt?

smoggiebakersfield said...

AnalysisGuy,

Wish I would have been there to see their faces...funny..funny stuff!

Merced Going Quickly said...

Marias took downs hers website, as may she saw all that the bloggers were saying about that "lies" market report, as that the she can be reported to that real estate board, as they do have a code of conduct that montitors, as the real estate agents do that type of real estate market type work.

Merced Going Quickly said...

No, the report is still there.

Oh, I love this quote:

"Market Values have decreased, due increased inventory in available properties. This pressuring available properties to be reduced for quicker sale."

What the heck does this mean?

Merced Going Quickly said...

Look at her MLS listings:
http://tinyurl.com/ybtmn2

Her taglines are hilarious!

She's peddling junk in Farmersville, Tulare, and somewhere else.

No wonder she put out that market report. In these cities there is nothing but farm workers that probably think she knows what she’s doing because she’s flipped a few houses.

Anonymous said...

I put a quick post (with a sample picture - brother-in-law took the shirts back with him to LA to do the same thing) on my blog.

Also, I'll be sending you an email...

thebubblebuster.com Blog

Wiley said...

Here's some good bubble shirts to wear around.

http://www.cafepress.com/vmartini

Anonymous said...

I suppose literacy is not a requirement to be a "Realtor" in California?

Anonymous said...

BS from Maria' bio at realtytimes:

"Maria Chavez
My name is Maria, I am a Realtor, Cyberspace Specialist, member Coldwell Banker Diamond Society. I have lived in this area for over 30 years and have been in sales for over 20 years. I started with Coldwell Banker Choboian in 2002 and with my Experience, Honesty, Integrity and Perseverance, I will bring to you the only... professional service you'll need, for all your Real Estate Needs."

Honesty and integrity? And an ability to sleep with one eye open.

No mention of Maria's economics degree.


You don't really think she wrote that do you?