Housing.com News, Analysis & Opinion: Hurricane Housing: A Bright Spot?

As I'd suspected, the bulk of buyers in the Big Easy are speculators--flippers looking to take wrecked homes and make quick profits off the fix-em-up. It's this kind of behavior that will continue the Midwest housing boom, which will in turn propagate bubble conditions overall. Still, after some of the crap I've reported on this blog regarding the sad state of post-Katrina N'Awlins, ANYTHING that's good news is worth pushing...if only for a while.

FSBO isn't an acronym for some kinky online ad description (though it should be!), but the shorthand for what the Times calls the largest Web-based discount brokerage around. This is a feel-good story if ever there was one. Money quote:

"The majority of residential transactions are very simple: 99 percent can be done without a broker. And the 1 percent screwed up - the broker couldn't have prevented it."

If anyone can slap a badge on their lapel and say they're a broker, why do you even need one anymore? Pocket that 6% yourself and cut the middleman out once and for all. Remember, these guys got sued for a reason. (Hat tip to the FSBO Blog. :))

When it comes to the wall of silence the NAR maintains regarding their MLS listings, they could teach the Soprano crew a thing about "omerta." And speaking of which, peep this piece about Lorraine Bracco's love for real estate.

Don't get me wrong--Lorraine's a very talented actress and intelligent woman (not to mention easy on the eyes in that MILF-esque way), but I'm not gonna trust my real estate picks to anyone that deep in debt to the Feds. Then again, the next time your property taxes bum you out, just look at those stats and pat yourself on the back!

Trackback Pings

The New York Times is all up in some interesting real estate articles of late. Particularly worth reading is this piece on the surprising strength of home sales in New Orleans. (Free--registration required.) As I'd suspected, the bulk of buyers in the Big Easy are speculators--flippers looking to take wrecked homes and make quick profits off the fix-em-up. It's this kind of behavior that will continue the Midwest housing boom, which will in turn propagate bubble conditions overall. Still, after some of the crap I've reported on this blog regarding the sad state of post-Katrina N'Awlins, ANYTHING that's good news is worth pushing...if only for a while. FSBO isn't an acronym for some kinky online ad description (though it should be!), but the shorthand for what the Times calls the largest Web-based discount brokerage around. This is a feel-good story if ever there was one. Money quote: "The majority of residential transactions are very simple: 99 percent can be done without a broker. And the 1 percent screwed up - the broker couldn't have prevented it." If anyone can slap a badge on their lapel and say they're a broker, why do you even need one anymore? Pocket that 6% yourself and cut the middleman out once and for all. Remember, these guys got sued for a reason. (Hat tip to the FSBO Blog. :)) When it comes to the wall of silence the NAR maintains regarding their MLS listings, they could teach the Soprano crew a thing about "omerta." And speaking of which, peep this piece about Lorraine Bracco's love for real estate. Don't get me wrong--Lorraine's a very talented actress and intelligent woman (not to mention easy on the eyes in that MILF-esque way), but I'm not gonna trust my real estate picks to anyone that deep in debt to the Feds. Then again, the next time your property taxes bum you out, just look at those stats and pat yourself on the back!