{"id":10500,"date":"2010-04-09T10:42:08","date_gmt":"2010-04-09T17:42:08","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=10500"},"modified":"2012-04-06T10:00:51","modified_gmt":"2012-04-06T17:00:51","slug":"friday-flashback-home-prices-will-not-go-any-lower","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/04\/09\/friday-flashback-home-prices-will-not-go-any-lower\/","title":{"rendered":"Friday Flashback: &#8220;Home prices will not go any lower.&#8221;"},"content":{"rendered":"<div style=\"width: 200px; font-size: 0.8em; text-align: center; margin:0 0 0 5px; float:right;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2010\/04\/NAR-2006-Great-Time.png\" title=\"NAR, September 2006: It's a great time to buy or sell a home.\" rel=\"lightbox[10500]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2010\/04\/NAR-2006-Great-Time-sm.png\" style=\"border: 0;\" title=\"NAR, September 2006: It's a great time to buy or sell a home. - Click to enlarge\" alt=\"NAR, September 2006: It's a great time to buy or sell a home.\" width=\"200\" height=\"342\"><\/a><\/div>\n<p>Flashback to <strong>September 2006<\/strong>, when the 20-city Case-Shiller index was nearly 30% higher than its latest reading.  The National Association of REALTORS\u00ae launched a &#8220;Public Awareness Campaign&#8221; titled <a href=\"http:\/\/www.realtor.org\/pac.nsf\/pages\/buysellhome\" title=\"NAR, September 2006: It's a Great Time to Buy or Sell a Home\">It&#8217;s a Great Time to Buy or Sell a Home<\/a>.  The primary flier for this campaign is pictured at right.<\/p>\n<p>Here are the highlights from the flier:<\/p>\n<blockquote><p>Right now may actually be one of the best times to buy a home. Consider these facts:<\/p>\n<ul>\n<li>Interest Rates Near Record Lows<\/li>\n<li>Large Inventory Won&#8217;t Last<\/li>\n<li>Prices Overall Have Stabilized<\/li>\n<li>Positive Outlook<\/li>\n<li>Real Estate is a Great Investment<\/li>\n<li>Don&#8217;t Delay<\/li>\n<\/ul>\n<\/blockquote>\n<p>Gosh, those talking points sound familiar, don&#8217;t they?  The campaign also included another delightful PDF, ironically titled &#8220;buy_now_fact_sheet.pdf.&#8221;  Here is the best part of that one:<\/p>\n<blockquote><p><b>WITH THE MARKET CORRECTION NEARING AN END, HOME PRICES ARE EXPECTED TO RISE AGAIN.<\/b><\/p>\n<ul>\n<li>Research indicates that home prices will not go any lower. While certain local markets may see limited price declines, the national picture remains bright. Pending home sales were up 4.3% in August, an early indication that buyers are returning to the market.<\/li>\n<li>The national median home price will rise 1.6% in 2006 and prices are expected to rise again in the first quarter of 2007. As prices begin to rise again buyers who do not act now could be making a costly mistake.<\/li>\n<\/ul>\n<\/blockquote>\n<p>If we throw around fancy-sounding words like research enough, maybe people will believe our total BS?  I mean seriously guys, <a href=\"http:\/\/seattlebubble.com\/blog\/2007\/08\/22\/suzanne-researched-this-part-2\/\">Suzanne reasearched this<\/a>.<\/p>\n<p>In light of the current <a href=\"http:\/\/lennoxscottblog.wordpress.com\/2010\/04\/08\/buyers-scramble-as-interest-rates-rise\/\" title=\"Lennox Scott: Buyers Scramble As Interest Rates Rise\">REALTOR-aided<\/a> media <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/04\/08\/interest-rates-skyrocket-everybody-panic\/\" title=\"Interest Rates SKYROCKET! Everybody PANIC!\">panic blitz<\/a> over today&#8217;s rising rates, I thought this portion was also pretty amusing:<\/p>\n<blockquote><p>The time for prospective buyers to enter the market is right now; and here&#8217;s why:<\/p>\n<p><b>MORTGAGE INTEREST RATES ARE CLOSE TO 40-YEAR LOWS.<\/b><br \/>\nThe average 30-year fixed rate mortgage rate remains near 40-year lows. Currently at 6.4%, this is more than an entire percentage point below 2000 levels.<\/p><\/blockquote>\n<p>You can still download the materials for this campaign <a href=\"http:\/\/www.realtor.org\/pac.nsf\/pages\/buysellhome\" title=\"NAR, September 2006: It's a Great Time to Buy or Sell a Home\">directly from the NAR themselves<\/a>.  I was thinking that this was an amusing oversight on their part, but then I realized that their message never changes, so why <em>wouldn&#8217;t<\/em> they still want people to download the &#8220;Buy Now Fact Sheet&#8221;?<\/p>\n<div style=\"font-size:85%; border-top:1px solid #CCCCCC;\">The purpose of our <a href=\"http:\/\/seattlebubble.com\/blog\/tag\/friday-flashback\/\" title=\"Friday Flashback on Seattle Bubble\">Friday Flashback series<\/a> is to remind people why it&#8217;s never a good idea to base your home purchase decisions on the word of someone with a vested financial interest in selling as many homes as possible for as much as possible, no matter what.  If you&#8217;ve got a good example of local home salespeople or other industry shills on record making fools of themselves in the years before the bubble burst, <a href=\"http:\/\/seattlebubble.com\/blog\/contact\/\">shoot me an email<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Flashback to September 2006, when the 20-city Case-Shiller index was nearly 30% higher than its latest reading. The National Association of REALTORS\u00ae launched a &#8220;Public Awareness Campaign&#8221; titled It&#8217;s a Great Time to Buy or Sell a Home. The primary flier for this campaign is pictured at right. Here are the highlights from the flier:&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[206],"tags":[639,638,126],"coauthors":[],"class_list":["post-10500","post","type-post","status-publish","format-standard","hentry","category-features","tag-639","tag-friday-flashback","tag-nar"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Friday Flashback: &quot;Home prices will not go any lower.&quot; \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2010\/04\/09\/friday-flashback-home-prices-will-not-go-any-lower\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Friday Flashback: &quot;Home prices will not go any lower.&quot; \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Flashback to September 2006, when the 20-city Case-Shiller index was nearly 30% higher than its latest reading. 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