1) Some people count sales at the contract point before they close.
2) Sale price is a pack of lies. They are crediting back to buyers large amounts of money. I would say 10-25 %.

Pending and actual sales are not the same thing.

This is absolutely disgusting!

....but I'm not really shocked. Scumbags!

Well well. Where are the people that bashed you then?

Oh go look at the old thread....

Try and explain that to people who want to believe their home is still above water.
After four years people still don't get it.

When has NAR had a reputation of being honest? Remember NAR when the housing market was collapsing?

Quote:

NAR - the Ultimate Wolf in Sheeps Clothing

http://www.realtorsucks.com/

It's all a lie. Every damned bit of it, everywhere you look.

What really bugs me, almost to the point of keeping me up at night, is that I don't think we've seen anything yet when it comes to the lies and theft that is permiating our system.

I think this clip is appropriate given how those who get caught red-handed act when confronted...



Flap

Thanks for the sleuthing. Did you catch where Kyle Bass said 6 years and a few months + inventory? This crap isn't over by a long shot..

"instead insist on a pull of the public records at the County level before performing any real estate transaction."


What records, weren't the records sucked into the MERS toilet?


Another scam that's being overlooked is that they cheated the state and counties out of fees on mortgages using this MERS scam and I seem to recall reading they charged the fees to the home buyers as if they were still paying said fees at the county courthouses.

Its all one big carnival now.

put an offer on an organic sale house this weekend 1/3 less than asking— I had recent comps to back up my offer— they pulled the house off the market the next day.

I have been throwing the lies in the face of the local realtors for a while— they always have some excuse— and tell me they will "look into why it sold for $40 a sqft— must have been a BULK purchase by an investor..." "I don't know why it sold for so low, it looks fishy, I'll get back to you..."—BS

Also, I see where when the bank takes the house back in foreclosure, it is booked as a sale, propping up median price as well as looking like more sales are taking place.

in the mean time, there are SO MANY HOUSES on the market and every one is listed in the same 300k-400K price range when they SHOULD be 150K-250K
I expect it won't take long as the flood of homes and foreclosures come on this spring with NO BUYERS

Quote:

Sale price is a pack of lies. They are crediting back to buyers large amounts of money. I would say 10-25 %.

idiots! They pay more in property tax if they do that— DUH!

Karl said: Pending and actual sales are not the same thing.

Here's what I suggest we'll see next from real estate industry: every time they show a house to a potential buyer, that will be a new "sale," pending of course the customer actually deciding to buy. This should increase sales figures by at least a factor of 10, probably more.

The juggling of statistics to create a warm, fuzzy feeling about the "booming economy" is getting rather tiresome. We have an unemployment rate that is going down, because we stop counting people who are assumed to have given up looking for work. Actually, they might not have given up, but if they're not registered with the state-run employment services (required to collect unemployment insurance), then it's assumed that they've given up looking and thus are no longer unemployed.

We've had juggled inflation statistics for years. One trick was to hide price increases by saying that the new products give more value than the old models - so a faster computer that costs more than last year's model is actually cheaper because it's, well, faster. New cars are cheaper than last year's models because now they include a sticker from the EPA saying "green vehicle" (even if the gas mileage has declined). And so on.

Let us not forget that some time in the latter years of the Bush administration, it was decided to stop publishing a figure for M3. I guess it's on a need-to-know basis now, and the public doesn't need to know.

This is the new economic paradigm: "hide the turd." Might be reassuring to those folks who still have a house and food in the fridge, but much less reassuring to those already living in a cardboard box beneath the freeway overpass.

It's the perfect time to buy! Just kidding. Who listens to these clowns anymore?

Lies everywhere I look. We need to eradicate these people from society for good as part of the cleaning process.

Rehypothecation.

The whole damn infrastructure needs to burn. The tax code, the fed, the banking system, the markets. Slash and burn and start over. So.Sick.Of.This.Crap!

Rumor has it Freddie Mac paid Gingrich 1.5M for a series of blowjobs; sounds more plausible than the historian shtick.

I learned a new word today rehypothecation. Nice gig , to pledge other people's assets as collateral just because they opened an account with you. Why I do something difficult like manufacture and create new products I'll never know.

Remember folks every market is different when it comes to real estate just listen to the experts.

"It's all a lie. Every damned bit of it, everywhere you look."

This!

+1 bazillion!!!!

Sad, but the country IS now running on lies, deceit, thievery, garbage, cheap crap from overseas, snake oil, get rich quick, etc.

I am sick of it. I work in a library, so I see the waste that the publishing industry puts out. Heck, half these books don't even appear to have been edited by someone and I am not talking about a misplaced comma in a 300-apge work.

For the longest time, I have advocated a moratorium on publishing books, for say a year. Give everyone a rest from new books and a time to catch up.

But NOOOOOOOOO! Think of the tragedy that (Bartles and) Jane 6pack might have to suffer w/o Danielle Steele's 547th novel. Crap, on top of that, do we need to kill more trees for the paper, as well as, waste than bandwidth on another Kindle for Stpehen King's 6,567 page paperweight-tome!

Sorry, but I see the dreck that passes for publishing and unfortunately, KD, you're work is most def. in the minority (Good stuff) that is. 90% of everything in this country is like diapers...FREAKIN' DISPOSABLE.

Art, literature, music. Gosh, I know I sound older than the 44.5 that I am, but I am tired of all of it. Corrupt consumption is no way to live and even though the family has scaled way down, living in it still doesn't help.

I also would like to add from the first principles entry that I agree that I am a slave to Christ, but that doesn't mean the goobermint owns me.

However, we are where we are in this country, esp. when we see people not taking responsibility for their actions because of this dependence on the gov't. When Uncle Sugar bails your butt out with welfare checks or TARP, what do we here at TF expect?

Something like, "Uh, em, uh, I don't know where the $1.2 billion went." Heck, you don't!! I might believe you could lose a dollar and twenty cents, but more than a billion. PUHLEASE!!! That might work with the X-Factor idiots, but I am not fooled. Must be nice to get away with that sheit.

Anyway, where was I? Yeah, we have all this nonsense because everyone wants a bailout, whether it is through welfare checks for teenage moms with 5 kids or the bankster who screwed up with derivatives.

So there you go. If you want socialism, welcome to gov'y slavery. Remember, the gov't gives, but it will take, mark my words! It will not give anything away for free, because it doesn't have anything to begin with.

I am so sick of it. Time to go back to simple things again. 40 acres and a mule.

Sorry for the rant, but I had to get that off my chest!

When there's little valid capital creation in the economy, as has been the case for years now, you HAVE to assume in nearly every manner of endevor the void is being filled with fraud.

Until proven otherwise.

Heh, if we downgrade prior sales data now going into the slow season, the YOY comparisons will not look as ****ty! Brilliant move! Just don't look at peak to trough...

Remember the quote from Galbraith in 'The Great Crash':

Quote:

To the economist embezzlement is the most interesting of crimes. Alone among the various forms of larceny it has a time parameter. Weeks, months or years may elapse between the commission of the crime and its discovery. (This is a period, incidentally, when the embezzler has his gain and the man who has been embezzled, oddly enough, feels no loss. There is a net increase in psychic wealth.) At any given time there exists an inventory of undiscovered embezzlement in – or more precisely not in – the country’s business and banks. This inventory – it should perhaps be called the bezzle – amounts at any moment to many millions of dollars. It also varies in size with the business cycle. In good times people are relaxed, trusting, and money is plentiful. But even though money is plentiful, there are always many people who need more. Under these circumstances the rate of embezzlement grows, the rate of discovery falls off, and the bezzle increases rapidly. In depression all this is reversed. Money is watched with a narrow, suspicious eye. The man who handles it is assumed to be dishonest until he proves himself otherwise. Audits are penetrating and meticulous. Commercial morality is enormously improved. The bezzle shrinks.”

The fact that there is still so much fraud means we're still in the bubble.

It's the biggest bubble of them all, as yet unnamed, all conducted by the government and its supporting institutions. I think it should be called the Obama Bubble.