According to this independent observer, business in the Hamptons has never been better. “You snooze, you lose”, she cautions, so buyers, get out your checkbooks.
As always folks the operative principle is supply and demand. And as the inventory diminishes, the curve goes up once more. So buyers out there, you have been noticed that the time is right for you to make your move on both deals and values.
Of course, for every positive-thinking, decent writer, there are always mean, cynical nay sayers like this fellow, who reports, “Darkness Descends on Hamptons Real Estate”. Can’t we all agree to either say nice, cheerful things or say nothing at all?
Interesting reading in the Times’ Real Estate section on real estate blogs and the readers’ comments trashing particular properties. Their advice: forget about it. My advice: listen to what people are saying – some of them are actual potential customers and you’re hearing their opinion, unvarnished by polite agents.
Well they sure make principals nicer these days – nothing like being hauled into the disciplinarian’s office at GHS back in the day. Anyway, I had a very nice talk – what’s the diplomat’s term: a frank and fruitful discussion” – with the President of the Greenwich Association of Realtors. She’s a great person, one whom I like and respect enormously, so I went to our chat with a real feeling of sympathy – she’s getting pressure, and when did she volunteer for that crap?
I readily admit to being a flawed human being – ask God or my children or just read this blog – so I was open to suggestions as to how I could make her job easier. Eh – probably not much. I can certainly think twice before posting something (I already do that, often, so I’ll try to think thrice) and other that that, there was no suggestion that I stop reporting what I see to be the truth. Which speaks well of the GAR, in my opinion.
One suggestion for offended realtors: don’t call your President, or my manager, or send me anonymous emails. Call or write me and, as the few who have tried that approach know, I will always correct any factual errors and my policy is to make the correction more prominant than the original error. I rarely bite.
A couple of readers sent me links to this story, originally in the LA Times, about “Jim the Realtor”, whose blogging on real estate makes me look positively civilized. Or it did, but now suitably inspired, I think I can turn things up a notch or two – time to switch to the more sophisticated WordPress program and get a video camera.
The lede says it all: “Sometimes the truth hurts. Real estate salesman Jim Klinge doesn’t care.”
From Peter Hong at the LA Times: The Hunter S. Thompson of real estate
Real estate salesman Jim Klinge … has become a notorious Internet chronicler of the real estate crash in north San Diego County, where he has lived and worked for decades.
Rather than downplay the greed and excess that caused the region’s travails, he revels in exposing them.
He surveys the wreckage with a pocket video camera, shooting footage of vacant, once-pricey houses turned into eyesores, voiced over with his deadpan narration. Then he posts them on his website, at www.bubbleinfo.com.
In one clip, the camera pans across the kitchen of a million-dollar fixer near Interstate 5. He pointedly notes the house’s proximity to the freeway, which he calls the “De-troit river.” There’s mold under the sink and a foot-sized hole in the drywall just above the floor.
“December 2006 this house sold for a million dollars,” he says. “Nineteen hundred square feet, built in ’78, right across the freeway. One million.”
His wife, Donna, who helps manage the family brokerage, was nervous. “He was really pushing the envelope with the blog, taking people on, naming names,” she said. “I took deep breaths. I didn’t know how it would turn out.”
She said she was shocked one day to see a photo on the blog of two young men sitting on the floor of a house with their wrists bound like prisoners. They had been squatting in a foreclosed house Jim was selling, and he had sneaked up on them as they slept and tied them up with plastic zip ties in a brazen citizen’s arrest.
I just heard an earful from an angry builder, upset that my negative tone was hurtful and, more important, hurting sales of spec houses. I don’t take responsibility for the collapse of sales here in Greenwich – the economy is doing a fine job of that all on its own – but I did decide to take a jaunt around the internet to see what other real estate bloggers are doing in writing about this awful market, in case they’d figured out a tone that, while accurately reporting what was going on, maintained some semblance of cheer. Fat chance. Turns out, they’re doing just about what you’d expect from a real estate agent, and that’s not what I want to do with this blog.
Here’s the Buckhead Blog, from Georgia.
Here is your opportunity to own a home in a vibrant and social Buckhead neighborhood.
You’ll be a short walk to the exclusive Streets of Buckhead which will rival Madison Avenue
and Rodeo Drive for shopping and dining.
Buckhead Forest children attend the sought-after Sarah Smith Elementary which is one of the top public schools in the Georgia.
The property has been renovated and updated by some of the best craftsmen in Atlanta. When getting the mail or walking your dog, people will stop their cars to compliment your beautiful landscaping and the great curb-appeal of your home. Youâ€™ll anticipate the seasonal changes in the professionally landscaped yard as the spring will bring azaleas and hundreds of multiplying daffodils. The summer and fall will have long-blooming hydrangeas and other colorful perennials. Here are some more pictures and details.
Tulsa’s no better.
Do you Know why you should know what your home is work?
If not here are the answers to both questions.
Here’s one I will bet you have never checked on – are you being over taxed on your property. Did you know if the county over evaluates you homes worth you can challenge it and get your property taxes reduced.
If you do not know what your home is really worth – – How do you know if you are properly insured encase a disaster strikes like a fire, interior Waterline break, Tornado, hail storm or anything else.
It is free and easy to check on what your home is worth Just call me I will be happy to do a Competitive Market analysis on your home – Knowing you are not even thinking of selling. I think this is part of my professional service and community responsibility. Who knows you may appreciate it enough to refer me to someone that is ready to buy or sell a home.
And this one from Philadelphia insists that we’re all being fed a line of crap and that real estate prices have in fact fallen only o.o3%.
Etc. So I’m not going that way. If builders think I’m gloating over their misfortune, then I’m sorry, because I’m not. And angry home sellers (my caller assures me there are dozens, all angry at me) should know, as I’ve mentioned, that my own family’s real estate is doing no better than theirs. What I’m trying to do is report on current conditions. If you don’t like those conditions well, neither do I. But they are what they are. Get over it.
I’m stirring up the ire of my colleagues because of this blog – apparently I am responsible for the collapse of real estate from Dubai to Greenwich and was warned just last night that a prominent Greenwich broker “has some choice words about you.” I’m shaken, of course, and will surely mend my ways, eventually, but here’s a blogger doing the same thing in Short Hills New Jersey and nobody likes him, either. We may have to start a club.
His blog: Circling Vulture .com
Sounds much like my own experience. Some of these bloggers made money selling ads but the point I took away is that they become go-to sources for current real estate news and information. That’s what I strive for but, since I don’t sell ads and do this for my amusement, I tend to drift off into anything else that interests me. And yes, I know that annoys those who come here for a strict diet of real estate but heck, just skip over the stuff that’s irrelevant. You have a channel changer at home for your TV, right? Same concept.
By the way – if you aren’t reading the comments, you’re missing a huge part of this blog. My readers are smarter and more knowledgeable than I am on most everything (a low hurdle) and offer useful insights on all sorts of subjects.