May
27
2008
Oregon Realtor Vision
By Charles TurnerThe Oregon Association of Realtors is advertising heavily this morning. KGW had a commercial and I just heard another one on Charlie FM for “Realtor Vision… because Realtors see things we don’t.”
This is the first time I have looked at the site and it looks like it has some good content. But since I see things you don’t it would be nice to hear some constructive comments about it.
Making Housing More Affordable for Oregonians
“Oregon REALTORS® have continually fought off attempts to limit the mortgage interest deduction, one of the most important tax advantages of homeownership.”
I disagree with this stance. By promoting the tax benefits, which NAR is aggressively doing, more people enter the housing market driving prices up. The tax benefits are, let’s say “nice” but not significant when considering the whole process of taking on home ownership, ie, utilities, repairs, maintainance, THE HEFTY MORTGAGE, etc.
Look at our ever increasing foreclosure rate.
“ Whatever you decide, remember that 60 percent of your personal wealth will be realized through the equity you earn in real estate. ”
I find this disturbing. Look at all the folks who bought during the bubble and are now underwater AND in their 40′s and 50′s! I sure hope that 60% of their wealth is not in their home…since they have $ZERO wealth in their home.
This has been one of my ongoing concerns with folks buying now and buying too much home. How can you save for rainy days, repairs, emergencies, and RETIREMENT if you can barely make you house payments? Sure, some day when you retire you may sell your home for a nice profit but you gotta live somewhere. I guess that’s where the reverse mortgage comes into play.
I meet folks frequently, just hired a new nurse, well, an older nurse in her 50′s who’s husband is in his early 70′s and working at a grocery store to make ends meet. She just can’t get over how little the SS check is. Well, duh, it was never meant to be a retirement plan.
Another example, my 45y.o. brother in Colorado bought during the bubble, put 20% down. He’s upside down now! Luckily he is a savvy investor and is doing well in other areas, ie, stocks, etc. So he isn’t too worried.
Take home points: don’t rely on SS or your equity for retirement.
It’s also about working to protect the economy and promote the conditions that make it possible for you to own your own home.
Completely, utterly, and irredeemably disingenuous. The “content” on this site, Charles, is little more than an attempt to reframe realtors in a cratering market as the good guys. Of course they’re going to fight attempts to limit mortgage interest deductions, etc.; they’re realtors for godsakes, their job depends on houses being bought and sold. The more the better.
My favorite line: “Oregon REALTORS® have been fighting to protect your rights.”
ROTFLMFAO! Yeah, realtors and George Bush, all fighting for my rights. I’m surprised you even posted this, Charles. It’s not even god marketing copy.
The site is a little buggy and has some errors in the copy, but it’s a decent start.
I’m surprised you even posted this, Charles.
Why wouldn’t I? It started some debate which is one of the things this blog is about. I don’t always post things that I agree with, like or support (not alluding to any of those about Realtor Vision). Are you suggesting that I hide or ignore real estate related stuff that I or you may not like?
Are you suggesting that I hide or ignore real estate related stuff that I or you may not like?
Not at all. I applaud your guts in doing so. I’m just surprised that you think this site has “good content.”
This is the first time I have looked at the site and it looks like it has some good content. Never said it was all good or perfect.
I do think the FAQ page has good information as do some of the other pages.
Charles, what don’t ya like about the site? Or maybe I should ask, what don’t you agree with? What makes you cringe? What would you change?
Thanks, in advance.
Putting aside the frustration at a large number of technical issues (broken links, typos and formatting) which implies that my Association dues went to advertise a product that probably wasn’t ready for release and prime time commercial advertising. If the web developer was given today as a launch date, they missed it.
I don’t like the “Do you need a Realtor” test. I don’t think a ten question quiz can accurately make the determination and then not providing what the “correct” answers are isn’t helpful. Real estate is to individual for 10 questions. On the Buyer test it says I got 4-8 correct and could use a Realtor myself. I got 9-10 right on the Seller quiz. One of the questions asks if I had $2000 to spend on 1) replacing outdated lighting, 2) landscaping or 3) replacing kitchen appliances which should I do? It depends! In November, $2000 of landscaping will probably still result in an ugly yard, it’s what we expect in the NW. In May, it may be the only thing that gets them out of the car to look at the outdated light fixtures inside.
I don’t like that the “60% of your wealth comes from your home” statistic appears multiple times. Seems like a bold statement in this market.
And, at the end of the day (even after Lasic eye surgery), I don’t see things that you don’t; I interpret and process what we both see differently than you do.
Hey Charles, I know a good realtor for you. Her name is Jenny. I think you might have met her before.
hehehe
I don’t doubt that 60% of the average person’s “wealth” is in home equity. I would bet that for those who bought within the last 5-10 years it’s more like 80% since there’s very little left to put away in other forms of investment after paying to own the dwelling.
Real estate isn’t dead, just overpriced. As soon as prices drop to a reasonable level, sales will increase and all will be well with the world.
Then there’s this:
Promoting Responsible Land Use
In 2008, Oregon REALTORS® ensured that our state’s unique land use system will receive a thorough examination and critique through the Big Look Task Force. The legislature approved the money necessary to fully fund the most basic needs of the Oregon Task Force on Land Use Planning (“Big Look Task Force”). Fully funding the Big Look Task Force has been a priority of the Association since its legislative inception in 2005, and remained so during the 2008 Session.
In 2007, Oregon REALTORS® initiated legislation providing that final review of a subdivision or partition plat is not a land use decision that would trigger notice requirements and rights to appeal. Notice requirements and appeal rights are already triggered by the initial land use application. This legislation reverses a Court of Appeals decision giving development opponents a second chance to appeal these decisions and strikes a critical balance by providing certainty to lenders and developers, while maintaining the rights of opponents to appeal land use decisions.
Correct me if I’m wrong, but didn’t the realtors association favor Measure 37 and fight Measure 49?
http://money.cnn.com/2008/05/27/real_estate/realtor_settlement.ap/index.htm?postversion=2008052715
Realtors settle case with U.S.
Real estate agents were accused of illegally blocking posting of home listings and limiting competition from online brokers.
WASHINGTON (AP) — The Justice Department gave a boost Tuesday to online real estate brokers – and potentially their clients – by forcing new industry policies to give Internet-based agents access to home listings they were previously denied.
The tentative settlement, which still requires court approval, could save consumers thousands of dollars when buying a home.
It’s always interesting to try and define an entire industry.
The services/skills of each realtor and the needs of each transaction vary to the point that I wouldn’t generalize.
But that is exactly how the Realtor association market their services. It is full service or none. It is standard commissions or be shunned.
I look forward to seeing the industry mature. The strong producers will make more money, the weak will get a new job, and the homeowner will have choice in the last 5%.