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Wake up America, the "Decline in real estate sales greater than stated"

Whether or not you are in the market to buy or sell, this story should cause you some concern.  As reported in Inman News, the Housing figures reported by NAR for 2010 were overstated. Click the link below to read the entire story:  http://www.inman.com/news/2011/02/15/decline-in-real-estate-sales-greater-stated; So we await the revised figures from NAR.  Was it just methodology or was there something more egregious?  I am curious to hear what the people of Albuquerque and Rio Rancho have to say about this.  After all, the implications are very far reaching.

Let us know what you think.

albuquerque real estate

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C. Lloyd McKenzie, MBA

Associate Broker

Berkshire Hathaway HomeServices

New Mexico Properties/Allstar, REALTORS

6739 Academy Rd. NE SU 200

Albuquerque, New Mexico 87109

(505)888-1700  Office

Phone: (505)750-8552
Email: Info@LloydMcKenzie.com

Areas Served: Albuquerque Metro/ Algodones/ Bernalillo/ Cedar Crest/ Corrales/ Edgewood/ Los Lunas/ Los Ranchos de Albuquerque/ Placitas/ Rio Rancho/ Sandia Park/ Tijeras

Comment balloon 5 commentsC. Lloyd McKenzie • February 19 2011 10:59PM

Comments

C Lloyd: I have never paid luch attention to NAR stats. I follow these instead: http://www.fhfa.gov/Default.aspx?Page=14. Whole affair does not do much for NAR's credibility.

Posted by Matt Grohe, RE/MAX Des Moines (RE/MAX Real Estate Concepts) almost 7 years ago

C Lloyd, thanks for the information.  Went to the article and read it, hope this negative information does not make us all sound like we are giving out misinformation on purpose.

Posted by Suzanne Taylor, Home Sales In Corpus Christi, TX (361-510-5413 http://www.CorpusChristiHomeFinderOnline.com) almost 7 years ago

Good blog post "C". Thank you for sharing your thoughts!

Posted by J. A. Michail, Real Property Management of Sarasota & M (Real Property Management of Sarasota & Manatee) almost 7 years ago

Lloyd, we are in Sales, and so is NAR.   We need to be optimistic, we need to be positive and encouraging...

But the NAR Reports that claim Markets are Improving, Sales are Up, Times are Good, Rah Rah Siss Boom Bah etc. are Misleading.

Those Rosy-Cosy Reports from NAR and other sources encourage Sellers to List their houses at too high a price.  The over-priced property will get stale on the shelf; nobody will Buy it.  

The Truth is better.   Prices are down, number of sales is down.  Price your house ahead of the Declining Market, or prepare for a No-Sale.

 

Posted by Fred Griffin, Licensed Florida Real Estate Broker (Fred Griffin Real Estate) almost 7 years ago

Thanks for your comments.  NAR needs to get its act together.  

Posted by C. Lloyd McKenzie, Living Albuquerque almost 7 years ago

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