"Houses in Bend are overvalued, report says"

Well no shit! A report out of Ohio finds that homes in Bend were overvalued by 60% in the last quarter of 2007. That's why we're in this mess. And until those values correct themselves, we're screwed. It also says that historically, it takes about 3 1/2 years for those corrections to occur.

Then you get the typical rose colored outlook from some sack-o-shit realtor, Ruben Garmyn. "Yes we are going through a downturn, partly driven by the media, but we are showing lots of property to potential buyers." Buddy, you can show your overpriced shit boxes to people all day long, but until you actually sell one, who gives a fuck.

Oh and that "media driven" line. Yeah, that makes a ton of sense. I don't think that the media has the power or the dumb sense to do such an idiotic thing. It's called economics, you fool. It's funny to me how some say the media won't be honest about the downturn because it will drive away all of their real estate revenue, yet the realtors say that the downturn is partly media driven. Sounds to me like the media is painting a fairly accurate picture if both sides feel they're being screwed.


What pisses me off the most is just how unscrupulous these lying, no moral, money grubbing realtors can be. Most of them tell you how swimmingly things are going in the Central Oregon real estate game. They're either liers or just complete idiots! You've got people like this Garmyn guy or Dana Bratton saying, "You've got 60 days to make that great buy and then they're onto us," or "So I say, make the move-don't miss the boat." What, miss the boat on houses that were 60% overvalued just 3 months ago? Hmmm...

And the contractors are right there with 'em. COBA (Central Or. Builders Assoc.) has their new, "Best Buyers' Market in 20 Years!" campaign going on right now. So what that should be telling us is that the 60% overvaluation of homes has not only corrected itself, it has reversed itself to some degree. I don't think so. A vast majority of the homes for sale in C.O. right now are still grossly overvalued. They're inching their way downward, but they're overvalued. We're going to have to get a lot closer to that 31/2 year mark to even remotely support C.O.B.A.'s claim.

Would it be so bad to say that the market is extremely tough right know and we're all working our butts off for every sale that we can make. I don't think that anyone would take offense to that. And I don't think it would sway peoples decisions to buy or sell a home.

I guess that I really can't blame these folks for trying to have a positive outlook on things, their lives depend on it. And after all, they are salesman. I just wish they would show a little more character.

A bunch of people have been extremely greedy for a long time and it has caught up with them. Nobody seems to know how to live within their means anymore. And saving a little money for a rainy day, yeah right. You shouldn't borrow money unless you can pay it back, even if it means selling everything you've got. You just have to know that what you've got is sellable. All of this sub-prime, pie-in-the-sky bullshit is catching up with us. And even though the long list of lenders, developers, contractors, reators, etc., etc., are partly to blame, the buyers that were foolish enough to believe them are just as responsible.