Monday, January 12, 2009

Have local Deep Creek real estate agents been trying to mislead people or have they simply been giving awful advice?

I'll let you be the judge.

Exhibit A: January 21, 2008: "This is a great time to buy a second home at Deep Creek Lake!"

"local developers realize that Deep Creek has always been in high demand and that prices will go back up this summer"

Oh really? Prices will go up by summer 2008 will they? Where are all those satisfied clients out there who bought in January 2008 because prices were going to go back up in the summer? Six month forecasts, really? Are these real estate day traders or public servants who are supposed to be helping you out? I certainly can't tell. And as for value what does someone with a background in marketing know about value? I'd really like to hear more on that too.


Exhibit B: March 28, 2008: "CNN/Money Magazine Says Buy A Vacation Home Now"

Actually that is not what CNN/Money Magazine says at all, see for yourself here. She said it was time to look (leisurely) in soft markets where you could buy at a discount not go buy where prices had not fallen which is exactly what this blogger seemed to be suggesting.

If a real estate agent somehow managed to land in the eye of a hurricane and was asked to report on the weather I'm pretty sure it would be warm and sunny from now until the foreseeable future. I think these two exhibits (and if I looked I could find more I'm pretty sure) demonstrate that to be educated consumer you need to be aware of who you are taking advice from and what their real motivations are. As always, buyer beware.

Don't forget to check back to Dan's Deep Creek Blog for future updates.

2 comments:

Dan said...

When Exhibit A was first posted I asked the other Deep Creek real estate blogger and local real estate agent if he was willing to guarantee losses incurred by those who followed his advice. He declined to publish my comment.

Anonymous said...

"Dan",

In this case, I think he was hoping to pump up the market in order to dump his own property. Ever heard of a pump and dump scheme?

Robert W.
Derwood, MD