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How much room do you need?

I appreciate you being here – thanks for participating, and have a great 2012!

Here’s the documentary done by the Finnish television crew – look for a certain part-time blogger during the 5:30-7:30 period, and at the 8:20 mark:

This is probably boring but the first part gives you a glimpse behind the scenes:

My version is coming next:

Calculated Risk has a very long reach.

A staffer at CNBC saw the Sunset Sermon video posted there, and called this morning.  They are going to interview me today live on CNBC’s Street Signs at 11:10am, Pacific Time.

Here are my talking points that I discussed with her, all specific to my market:

1. There aren’t enough reasonably-priced homes for sale to satisfy the demand.
2. When reasonably-priced homes come on the market, they have no trouble selling.  Bank-owned properties happen to fall into that category, but any home that is priced fairly gets a lot of attention early, and usually sells in the first couple of weeks.
3. The only homes not selling are those that are way over-priced, usually 10% to 20% too high.
4. Banks/servicers should push more properties onto the market when rates are at all-time lows.
5. Many elective sellers think it is a bad time to sell, but it’s not.  It is only a bad time if you want a crazy-high price, because buyers are being very patient, and are only willing to pay a reasonable price.
6. Foreclosures don’t need to be discounted to sell, they sell for retail value – what they are worth in today’s market.
7. Banks are fixing up their REOs before listing to ensure they are attractive to retail end-users.

See you at 11:10am!

Bill at Calculated Risk has been very, very good to me.  He has published many of my videos over the last couple of years, causing many people to inquire about, and eventually use my services to buy and sell.

He posted my Sunset Sermon last night, which didn’t set off the flurry of attacks that it could have – but BusinessInsider.com picked it up and is running a link to the video on their front page:

http://www.businessinsider.com/the-real-estate-market-is-abuzz-2011-10

A few of the gems from the comment section:

1. ill take Shiller any day over some greasy realtor talking his book…

2. ABSOLUTE LIE. These realtors are Really Dishonest. The income is not there to support the life style, very few “instant gratification seekers” are trying hard to get back to the old good days.  The real estate market in San Diego is Depressed and it is going to take years to be normal, no more SPECULATION.

3.  Ah, California…America’s fabled “Land of lost leverage”. Right out of a Hollywood script; when is someone going to do a movie about stupid, corrupt realtors and their fellow parasite classmates?

4. NEVER TRUST A REALTOR. HOW CAN YOU TELL THEY ARE LYING? THEIR LIPS ARE MOVING. THEIR GOAL IS TO MAKE YOU BUY AT THE HIGHEST PRICE IN THE FASTEST TIME POSSIBLE.

5.  Agent’s goal is volume of deals, rather than maxing out price on any single deal. While I hate to reference this book, “Freakonomics” has a good explanation of this. Why wait 15 days to accept an offer of $500,000, when you could close a deal and move onto something new after 5 days and $450,000. If agent’s share is 5%, then their share is $25,000 and $22,500. Is that extra $2,500 really worth those 10 extra days worth of work? No.

6.  Of course, this is San Diego, specifically North County where Jim operates. It was one of the very first areas to crater (topped around 2004) so it makes sense that investor types are buying there.

7.  North San Diego County is NOT Desirable, these realtors are just desperate people rather go to Laguna Beach and Newport Beach to buy in Crystal Cove. Even in the most areas where The 1% lives in Southern California, Foreclosures are killing them.

8. Yep Jim the realtor and all of them have been saying that ever since they finally quit saying you better buy now as prices will only keep going up.

9.  More realtor koolaide BS. Until incomes return real estate will continue it’s slide downward. Once on par with incomes, wherever you happen to live, look for a long sideways slide. This vid is such crap!

10. WOW, some random realtor on YouTube has 2-3 highly-priced properties in San Diego with multiple offers….and this means real estate is coming back.   If I make a video showing drug gangs just moved into the vacant homes on my street, will you post it on BI saying we’ve now become Iraq?

11.  Never listen to a Realtor, they are the slickest shylocks ever.

This is an area where NAR and CAR should be doing some work.  If they mounted a campaign to help educate the masses about buying and selling real estate, at least it would counter some of the negativity.  Currently these types of commenters are able to run free, and help to influence readers without any counterpoints.  It is sad that realtor organizations only stand on the sideline and watch.

Hat tip to Michael for finding this youtube of the documentary done a couple of years ago by a Canadian film company about the global financial crisis.

A certain part-time blogger is featured at the 3:52-min. mark, with his concerns.

Daniel mentioned it again today and it reminded me of what happened when I sent my mother the link to Al-Jazeera TV, who has been playing the whole series lately. She thought I defected or something, and was disgraced that I was being featured on Al-Qaeda TV!

It was six years ago today that this blog began – thanks for being here!

This video sums up a recent trip down memory lane:

More from Larry, Moe and Curly about selling real estate around NSDCC: