"Anonymous" left this comment on yesterday's post about Phoenix new home building permits hitting a 14 year low:
As a fellow Realtor I am disappointed that you post such negative news. Your (sic) not helping any of us.
Hmmm. First, the local newspaper wrote the story, I just regurgitated it. I did add some rather sobering listings and sales stats for the Phoenix real estate market, including the dismal 17.6 month supply of home inventory. I suspect that may be what "Anonymous" has a problem with. Of course with no name and an email address of [email protected], I'm not in much of a position to clarify what has Anonymous so dismayed.
What am I supposed to do? Sugar coat the facts? Lie? Bury my head in the sand and ignore reality?
The real estate market in Phoenix is what it is. Is the news "negative"? Sure is if you are attempting to sell a home quickly. Sure is if you bought at the price peak of 2005 and need to get out now. The inescapable fact is, if you list your home in the Phoenix area you are competing with a LOT of other homes out there. If you want your home to sell in a reasonable amount of time it needs to be in pristine condition and aggressively priced. Period, there are no exceptions.
Why shouldn't I tell it like it is? Does Anonymous want me to parrot the National Association of Realtors ludicrous, "Now is a great time to buy!" campaign? Maybe it is a great time to buy. If you are looking for a home to live in for several years, have reasonable credit and real money to put down, there are some *amazing* deals to be had right now. There are 57,000+ homes to choose from, and as a buyer you are in the "driver's seat" when it comes to negotiating the deal.
If you want to purchase, rehab and flip a home, it is a horrific time to buy. If you are moving to the area for a short-term job, school or some such similar reason, it is not a good time to buy. If your credit is poor to marginal, your assets non-existent, and/or your employment history unstable, now is not the best time to be looking to finance a home.
Now (or then, or later) is never a "great time to buy" (or sell) for anyone and everyone. Period, there are no exceptions.
So to "Anonymous", if you feel I'm doing the Realtor community a disservice by posting the facts of our local market — too bad. Get over it or move along. You say I am "not helping any of us" (with "us" implying Realtors). To be blunt, I'm not here to help you, to put real estate agents on a pedestal, or to try to improve the public perception of either agents or the market. To ignore, hide or distort the facts so as to make everything appear all bright and sunshiny would be doing a disservice to those out there that want, need or care about the truth.
[tags]Phoenix real estate market conditions, whiney realtors[/tags]