Thursday, January 22, 2009

Home sales are down - and the realty associations brag about it??

This week I have probably had more mortgage lenders tell me they are too busy to look at improving their advertising campaign because of the increase in loan activity than in the past two years. By my count, mortgage rates have dropped at least once during 10 of the past 12 weeks, at one point reaching levels not seen in more than 5 years.

Yet, once again, I checked a few sources for home sales news, waiting to see some positive reflecting in the marketplace. But no. More of the same. It's getting worse. Hundreds of thousands of realty agents paying hundreds of dollars in dues and fees again this year. The realty associations make a big deal about spending money on lobbyists and working the marketplace.

What comes up in today's news? Realty associations issuing negative statistics about the local marketplaces. Does today's potential home buyer give a you-know-what about how many homes sold a year ago or five years ago? Yet..........

From Houston:

From Kansas City:

From Austin:

And just so you don't think it is only the largest markets that constantly do this, here's the report from Raleigh-Durham NC:

Did you notice how the local realty association is prominently mentioned for issuing these statistics?

I'll tell you what. If I were advertising and/or marketing for a FSBO company, I would be pointing out all of these articles to potential sellers who are looking at doing it themselves vs. hiring a realty agent. If the company's FSBO assisted sales were UP in the past year, I would do a comparison.

I'd like your feedback on this, whether you are a realty professional or an investor.

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