{"id":10591,"date":"2010-04-16T10:34:39","date_gmt":"2010-04-16T17:34:39","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=10591"},"modified":"2011-04-15T16:20:11","modified_gmt":"2011-04-15T23:20:11","slug":"friday-flashback-the-real-risk-is-in-waiting-to-buy-a-home","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/04\/16\/friday-flashback-the-real-risk-is-in-waiting-to-buy-a-home\/","title":{"rendered":"Friday Flashback: “The real risk is in waiting to buy a home”"},"content":{"rendered":"

Today’s flashback comes at you from January 2007<\/strong>, when Samuel L. Anderson, executive officer of the Master Builders Association of King and Snohomish Counties penned this free advertisement<\/del> er, I mean insightful<\/em> “opinion piece” in the Seattle Times: Local housing market resilient<\/a> (emphasis mine)<\/em>.<\/p>\n

\"Samuel<\/a>The media have been all abuzz over the past year about the softening in the housing market. … At the same time, local analysts point out that even though home sales in the greater Puget Sound region have slowed, now is still a good time to buy a home, particularly in our area<\/strong>.<\/p>\n

What does this slowdown really mean for consumers? Is it wise to sit back and wait for a home in the hopes that prices may drop? Most real-estate experts in our region say don’t bet on it<\/strong>.<\/p>\n

The reality is that in a softer real-estate market, buyers are now in the driver’s seat. Prices are competitive and interest rates have held steady at near-record lows. Today’s low rates give first-time homebuyers a golden opportunity to begin building household wealth<\/strong>.
\n…
\nIn today’s housing market, the real risk is in waiting to buy a home.<\/strong>
\n…
\nUnlike some cities where the real-estate market is in a slump, the Seattle area is healthy and analysts feel certain it will stay that way<\/strong>. As a result, the deep discounted prices some consumers have been hoping for simply won’t be happening here.<\/p>\n

For consumers sitting on the sidelines, the bottom line is simple. Homeownership is always attractive.<\/strong> Besides being a stepping-stone to a future of financial security, homeownership provides a sense of community and personal satisfaction. In fact, studies show that homeowners are more content with their lives, enjoying a stronger sense of belonging and increased activity in community groups.<\/p><\/blockquote>\n

The above nonsense was published just six months before Seattle-area home prices began a two-and-a-half-year (so far) slide. According to the Case-Shiller Home Price Index, Seattle-area prices have fallen 21% since Mr. Anderson penned his screed declaring it a great time to buy a home and “build household wealth.” I have a feeling that anyone who took his advice is not quite as financially secure today as he led them to believe they would be.<\/p>\n

If you’re curious what I had to say about this article when it was published, check out my original post here<\/a>, but be warned that it’s basically just a sarcastic dismissal, because honestly that’s all the response that tripe like this really deserves from anyone.<\/p>\n

The purpose of our Friday Flashback series<\/a> is to remind people why it’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’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, shoot me an email<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"

Today’s flashback comes at you from January 2007, when Samuel L. Anderson, executive officer of the Master Builders Association of King and Snohomish Counties penned this free advertisement er, I mean insightful “opinion piece” in the Seattle Times: Local housing market resilient (emphasis mine). The media have been all abuzz over the past year about…<\/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":[660,638],"coauthors":[],"class_list":["post-10591","post","type-post","status-publish","format-standard","hentry","category-features","tag-660","tag-friday-flashback"],"yoast_head":"\nFriday Flashback: "The real risk is in waiting to buy a home" \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\/16\/friday-flashback-the-real-risk-is-in-waiting-to-buy-a-home\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Friday Flashback: "The real risk is in waiting to buy a home" \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Today’s flashback comes at you from January 2007, when Samuel L. 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