Monday, August 21, 2006

Triple Negative

For those interested in more than just the median price, the Sacramento Real Estate Blog has some additional metrics based on MLS data. Here's a summary:

Change in price between July 2005 and July 2006 (Sacramento County):

  • Median Price: -4.5%
  • Price Per Square Foot: -3.4%
  • Average Price: -0.3%


Gwynster said...

Wow the poster on that blog sounded a little bitter.

John in Rocklin said...

Triple Negative? Is this like when Chris Webber used to get a triple double? Only not?

drwende said...

"Bitter" is an understatement. He wasn't so snide about news coverage and interest back when all the news was "buy now! buy now! prices will go up forever!" That wasn't hysteria, oh no sirree!

Yeah, those of us who didn't drink the Kool-Aid are enjoying seeing the comeuppance of everyone who said we were "bitter renters," fools for not getting on the equity-stripping bandwagon, etc. So? It doesn't make us less right.

May I go slap him for the "go tell wifey" remark? Chez moi, I'm wifey, and I do the economic analysis, thankyouverymuch.

Anonymous said...

Guess he can go work at McDonalds!

Garth Farkley said...




At least 25% of the Realtors in Sacramento are unemployed, but they just can't admit it yet.

Agent Bubble said...

Speaking from experience (as a realtor), I can say that my income will definitely be different this year when compared to last year. I only do this part time, so it's not as big a deal to me as it might be to others. However, I've closed two deals this year, and I have six active listings. Last year, I closed 14. In 2004 it was closer to 32. The "smart" real estate agent should have started saving his/her money instead of buying a new BMW to impress clients with. I remember my first deal I closed, and it was for a house around $140,000. I made $4,200 and thought I was on top of the world. Now, with the average house going for three times that much, realtors have seen their incomes triple in just a few short years. It's hard to have any compassion for people without a lot of common sense.

Maybe it's just me, but there's some similarity between a lot of agents and buyers--most think real estate only goes up, hence incomes/equity should never be in jeopardy.

Happy in SF said...

"Wow the poster on that blog sounded a little bitter."

Yeah, that guy used to be so cocky. He's gone from "bubblers are psychopaths", to "hey guys, nobody has a crystal ball" to "I'm so abused by this following of naysayers I somehow pissed off."

hemorrhoidforhousing said...

I'm not quite sure how to take the bloggers feelings....frustrated, scared, angry, many adjectives, so little time...

Oh what tangle webs we weave when we attempt to deceive.

The NAR and CAR have now decided down markets are good because all of us angry renters can now have a better chance of joining the nervous ownwers.

I think I'll pass for another year until the real bloodletting begins.

If it took 5 years to inflate it's going to take at least three to correct.

dvo said...

But enough about THEIR feelings.

How are WE* feeling?

*Sold this Spring, cash in the bank, no debt. As I furiously emptied and staged my house, friends said "You're freaking out, man. Why the panicky rush?"

Why indeed.

Yoda would say, "A crazy ride, this cycle was."

Anonymous said...
This comment has been removed by a blog administrator.
John Lockwood said...

"Bitter is an understatement"?

You want to slap me, drwende? Is that all? Oh, no, my premise about people being entertained by violence must be way off base.

Well, this is a fun group, isn't it?

So, what is it you're defending with your ad hominems against me, exactly? You think it's a good thing that people are impressed by bloodshed, or are you saying that all the hype about the real estate bubble that you people are writing books about and trying to make a living off of one way or the other isn't an example of that?

Wow, Anonymous thinks I can go work at McDonalds! Oh my gosh, some Internet loser who won't even post his own name has a career plan mapped out for me -- hey, I better tailspin into a depression over that one!

I used to be so cocky? I was? Hmm, I don't ever remember that. What I remember was posting pretty even-handedly about the market, and a parade of people just like you jumping in my #### at every opportunity.

Hey, now you're doing it on other people's web sites. Cool, more traffic for Johnnie.