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Divadkire
Joined: 15 Jun 2007 Posts: 6
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Posted: Fri Oct 26, 2007 2:30 pm GMT Post subject: Those Silly radio ads |
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During that boom we went through, you never heard one ad from MAR encouraging people to buy. Now I hear all these silly ads telling me how great a time it is to buy a house. Testimonials from glowing buyers not yet into their rate adjustment period.
I am not sure, but I think most people buying a house or considering buying a house would step back and say "why do I feel like I am making a bad decision?" If this was such a good market to buy into, why are the realtors spending so much money attempting to get me off the sidelines?
When the market was hot you saw ads from individual companies trying to win your listing, not its the association spending from that rainy day fund. _________________ Divadkire |
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AgentGrn
Joined: 28 Sep 2006 Posts: 82
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Posted: Fri Oct 26, 2007 5:00 pm GMT Post subject: |
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It's not just radio. I rarely watch TV and caught one of those ads during one of the ALCS games. I couldn't help but laugh ... great time to buy? No. Great selection? Not too bad.
I wish I had recorded the segment so I could have uploaded it to YouTube. There was a bit about being afraid of being priced out or something equally insane in there. It did more to turn me further off ... as if that were a true possibility. |
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admin Site Admin
Joined: 14 Jul 2005 Posts: 1826 Location: Greater Boston
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Posted: Fri Oct 26, 2007 5:22 pm GMT Post subject: |
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Thanks, I didn't know about these ads. Are these the radio ads you're talking about?:
http://www.realtor.org/pac.nsf/pages/radio
If so, I can see why they have annoyed you. Here are some choice quotes from the 60 second "Good Time to Buy" clip:
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Didn't make sense for us to spend the same amount of money renting something when we could own it.
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How on earth is that applicable to the Greater Boston market? Monthly payments and expenses aren't even close to equivalent rent.
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Buying a house is the best investment anybody could ever make.
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How is it that the NAR/MAR can get away with offering investment advice like this when those involved with practically every other legitimate investment vehicle are perpetually paranoid about any statement that might be construed as promising future performance? I am surprised that they haven't been sued yet. I am also surprised that they are still offering unreserved investment advice now that the liability of being wrong should be more obvious with declining prices and hordes of former clients losing everything via foreclosure.
AgentGrn, is this the TV ad you're referring to?:
http://www.realtor.org/pac.nsf/pages/television
It looks like a condensed version of the 60 second radio clip.
Speaking of Realtor(R) ads on YouTube, don't miss this classic from a year or so ago if you haven't seen it already:
http://www.youtube.com/watch?v=Ubsd-tWYmZw
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AgentGrn
Joined: 28 Sep 2006 Posts: 82
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Posted: Fri Oct 26, 2007 5:43 pm GMT Post subject: |
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You are correct on the TV ad spots ... the first one in the lineup was the one I saw during the game. Had I been drinking my Coke then, it would have surely gone out my nose. |
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JCK
Joined: 15 Feb 2007 Posts: 559
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Posted: Fri Oct 26, 2007 5:55 pm GMT Post subject: |
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admin wrote: |
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Buying a house is the best investment anybody could ever make.
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How is it that the NAR/MAR can get away with offering investment advice like this when those involved with practically every other legitimate investment vehicle are perpetually paranoid about any statement that might be construed as promising future performance? |
Follow their advice, buy a house, and if it isn't "the best investment anybody could ever make" then sue!
Sounds like an excellent insurance plan. |
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admin Site Admin
Joined: 14 Jul 2005 Posts: 1826 Location: Greater Boston
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Posted: Fri Oct 26, 2007 6:43 pm GMT Post subject: |
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JCK wrote: |
Follow their advice, buy a house, and if it isn't "the best investment anybody could ever make" then sue!
Sounds like an excellent insurance plan. |
That sounds like just the plan Casey Serin needs to turn his fortunes back around.
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Divadkire
Joined: 15 Jun 2007 Posts: 6
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Posted: Fri Oct 26, 2007 8:03 pm GMT Post subject: Thanks for the Links |
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Those are the radio commercials I continue to hear on WEEI.
Does anyone think these ads will help to nudge potential buers off the sideline? I think they are a big red flag.
Realestate is always a good investment, unless of course you waited until 2003 to do your investing. _________________ Divadkire |
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showgunx
Joined: 14 Jul 2005 Posts: 60
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john p
Joined: 10 Mar 2006 Posts: 1820
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Posted: Mon Oct 29, 2007 6:14 pm GMT Post subject: |
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I think the link between psychology and economics is a major ingredient of risk factor.
If you are considering coming off the sidelines, think about the risk factor you feel comfortable with and use that as your basis for making an offer.
Frame it like "For me to be comfortable right now, this is my offer..., six months from now I might change my position, but this is the number I feel comfortable with right now in this time in the market."
I used to imagine the bottom low point in my mind was for a certain type of property and what the corresponding interest rate might be when it reached that price bottom. Then, I'd simply run the numbers for what the monthly mortgage might be and then I'd discount the asking price with the current rate to align with that. This is how I resolved the psycological aspects with the technical/numbers... |
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