Irresponsible "expert" on Fox News calling Irvine #1 Place to Buy Right Now

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edyang_IHB

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Some real estate "expert" was on Fox News around 4pm or so PT, running down the list of top 5 cities to buy right now in the US. I was thinking to myself, "how about none"?



Well lo and behold, the #1 city to buy NOW is Irvine according to her. She predicts an increase of 12% over the next 5 years.



Do news outlets only give airtime to bulls in any market? I groaned inwardly and hoped this didn't give some poor person the impetus to purchase now while the market is still clearly eroding.



Ed
 
hans gruber controls that building.



mclaaaane, where ah my detonatahs??!!

shoot da glass.



actually its TIC, no?
 
help me to understand why it is so wrong with an "expert" on fox news calling irvine #1 place to buy right??? Rightly or wrongly, it is his opinion just you and I have opinions. No one is holding a gun to anyone's head to buy anything in irvine or anywhere.
 
Personally I think it's irresponsible and bad advice, especially when they don't provide an expert with a counter point of view, to tell people to buy in a market that is clearly picking up steam heading down. Wasn't today's headlines screaming a drop of 14% in prices YoY?



That expert has the right to express her opinion, just like I have the right to say I think it's highly irresponsible and poor financial advice.



My point also is that it seems in any bubble you never hear the bear side saying things are overbought and it's time to cash out. Good times or bad, it's always the bulls getting all the coverage saying now's a great time to buy houses/stocks/oil commodities/widgets.
 
[quote author="edyang" date=1211939350]My point also is that it seems in any bubble you never hear the bear side saying things are overbought and it's time to cash out. Good times or bad, it's always the bulls getting all the coverage saying now's a great time to buy houses/stocks/oil commodities/widgets.</blockquote>


LOL. That's funny because I hear other Realtors complaining that the positive news never plays much, and that bad news sells news slots.



I suppose the grass is always greener on the other side...
 
Comparing to other communities there is no sign of hope Irvine although is in the down town spirol but it will rebound sooner than other SoCal communities and many other towns in the nation. The footage just did not bring out the real message but certainly a valiant effort.



[quote author="edyang" date=1211939350]Personally I think it's irresponsible and bad advice, especially when they don't provide an expert with a counter point of view, to tell people to buy in a market that is clearly picking up steam heading down. Wasn't today's headlines screaming a drop of 14% in prices YoY?



That expert has the right to express her opinion, just like I have the right to say I think it's highly irresponsible and poor financial advice.



My point also is that it seems in any bubble you never hear the bear side saying things are overbought and it's time to cash out. Good times or bad, it's always the bulls getting all the coverage saying now's a great time to buy houses/stocks/oil commodities/widgets.</blockquote>
 
[quote author="IrvineRealtor" date=1211939528][quote author="edyang" date=1211939350]My point also is that it seems in any bubble you never hear the bear side saying things are overbought and it's time to cash out. Good times or bad, it's always the bulls getting all the coverage saying now's a great time to buy houses/stocks/oil commodities/widgets.</blockquote>


LOL. That's funny because I hear other Realtors complaining that the positive news never plays much, and that bad news sells news slots.



I suppose the grass is always greener on the other side...</blockquote>


I would distinguish between news ("home prices fell 14% from last year") and guest commentator advice ("prices are off the low so buy now!").



Another way to phrase my point is that I rarely if ever heard commentators saying to sell and avoid a certain segment because it was going to go through many years of a down cycle. It's either, buy now as the market goes up or you'll miss out or buy now as the market goes down because it's a bargain.
 
[quote author="IrvineRealtor" date=1211935423]How did I look? You didn't think my wig was too tacky? :)</blockquote>


If it was Connie De Groot, then even <em>I</em> wouldn't wish that kinda ugly on IR2.



<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>



Hey, back in January she said it was the ideal time to buy. Even IR2 doesn't smoke that kinda Kool-Aid rock.
 
[quote author="irvine123" date=1211938537]help me to understand why it is so wrong with an "expert" on fox news calling irvine #1 place to buy right??? Rightly or wrongly, it is his opinion just you and I have opinions. No one is holding a gun to anyone's head to buy anything in irvine or anywhere.</blockquote>


Because an "Expert" being a licensed individual has a fiduciary duty to his or her clients, that's why. The licensed agent is REQUIRED by law to do what is in the best interest of the client, not to provide baseless opinions.
 
Graphix,

Yea I saw that. It was crack smoking at its finest. Of course they'll say its only an opinion. Any person with half a brain would look at this place and walk away.

But then again...

-bix
 
[quote author="PadreBrian" date=1211935897]lol. She must be trying to unload a Quail Hill house worth only 700k that she paid 1.4M for.</blockquote>


What! There's a Quail Hill house still worth 700k!
 
[quote author="edyang" date=1211939350]Personally I think it's irresponsible and bad advice, especially when they don't provide an expert with a counter point of view, to tell people to buy in a market that is clearly picking up steam heading down. Wasn't today's headlines screaming a drop of 14% in prices YoY?



That expert has the right to express her opinion, just like I have the right to say I think it's highly irresponsible and poor financial advice.



My point also is that it seems in any bubble you never hear the bear side saying things are overbought and it's time to cash out. Good times or bad, it's always the bulls getting all the coverage saying now's a great time to buy houses/stocks/oil commodities/widgets.</blockquote>


I don't think declines in the LA/OC MSA are "clearly picking up steam heading down"...



Per the CS numbers that came out today, March declines were softer (less than on a percentage basis) than January and February. They were also less than November's percentage as well. April and May are likely to continue that firming trend. Percentage declines are decelerating right now, not accelerating.
 
The mentality of a home purchase in Irvine for many consumers is a business transaction. This mind set will forever set the destiny the homeowners moral in Irvine. No one thinks of their home as heirloom properties that someday it will be passed on to their sons and daughters.



The unfriendliness and private attitude toward neighbors is a clear behavioral reaction. "I will only be here just for a few years until my investment gain enough of equity so I can move to a bigger McMansion faster than you." "I do not want to invest my emotion toward the neighbors and their kids because I am afraid of letting go and my children Ryan and Rachel will be devastated when I decide to move to a fancier investment."



I have researched neighborhoods across America and my finding for South OC is accurate. For most they are for $$$$ and the real meaning of quality of life and friendships that we all yearned for in many small towns Americana is only a marketing mirage painted in our heads of the proposed good life.



A real neighborhood is only when a homeowner is committed for life. One takes the stewardship of harvesting the fruits of generations growing up in the neighborhoods and seeing their grandchildren carrying on the legacy of the community.



We live in a disposable society. When our community, marriage, and family are broken we just move on to another one. Look at Central OC it was once a desirable place and residents moved on when things got tough. Back in the 60's the happiest place on earth was Anaheim and it is now it is the hell neighborhoods of OC.



[quote author="edyang" date=1211942753][quote author="IrvineRealtor" date=1211939528][quote author="edyang" date=1211939350]My point also is that it seems in any bubble you never hear the bear side saying things are overbought and it's time to cash out. Good times or bad, it's always the bulls getting all the coverage saying now's a great time to buy houses/stocks/oil commodities/widgets.</blockquote>


LOL. That's funny because I hear other Realtors complaining that the positive news never plays much, and that bad news sells news slots.



I suppose the grass is always greener on the other side...</blockquote>


I would distinguish between news ("home prices fell 14% from last year") and guest commentator advice ("prices are off the low so buy now!").



Another way to phrase my point is that I rarely if ever heard commentators saying to sell and avoid a certain segment because it was going to go through many years of a down cycle. It's either, buy now as the market goes up or you'll miss out or buy now as the market goes down because it's a bargain.</blockquote>
 
Fox News. They report, you decide (whether they are a "Parade of Propaganda" or a "Festival of Ignorance" or a Star Trek fanboy's wet dream).



<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
 
[quote author="bkshopr" date=1211947030]The mentality of a home purchase in Irvine for many consumers is a business transaction. This mind set will forever set the destiny the homeowners moral in Irvine. No one thinks of their home as heirloom properties that someday it will be passed on to their sons and daughters.



The unfriendliness and private attitude toward neighbors is a clear behavioral reaction. "I will only be here just for a few years until my investment gain enough of equity so I can move to a bigger McMansion faster than you." "I do not want to invest my emotion toward the neighbors and their kids because I am afraid of letting go and my children Ryan and Rachel will be devastated when I decide to move to a fancier investment."



I have researched neighborhoods across America and my finding for South OC is accurate. For most they are for $$$$ and the real meaning of quality of life and friendships that we all yearned for in many small towns Americana is only a marketing mirage painted in our heads of the proposed good life.



A real neighborhood is only when a homeowner is committed for life. One takes the stewardship of harvesting the fruits of generations growing up in the neighborhoods and seeing their grandchildren carrying on the legacy of the community.



We live in a disposable society. When our community, marriage, and family are broken we just move on to another one. Look at Central OC it was once a desirable place and residents moved on when things got tough. Back in the 60's the happiest place on earth was Anaheim and it is now it is the hell neighborhoods of OC.</blockquote>


bk -



I appreciate your viewpoints and your expertise in a wide array of topics (including shoes) in this forum. I respectfully disagree with this particular opine, though, as I think it is too broad a generalization. <strong>There is always an opportunity.</strong> Don't throw the good that is here out with that which you deem disposable. The fact that there is so much potential, I think, is why so many are concerned and take the time to participate here and elsewhere.
 
I agree with you that no one statement could really represents the people.



However this pattern echos loud and clear. I lived in various places in the same town and my experiences with 4 separate neighborhoods were the same conclusion. Others in this forum I bet shared similar experience and perception. I can not say I am correct but my instinct sometime gets pretty close. Or perhaps the social issues are just the symtoms of wealth?



Congratulation South County!! You are in the opening credit of Weeds (Showtime).



[quote author="IrvineRealtor" date=1211950322][quote author="bkshopr" date=1211947030]The mentality of a home purchase in Irvine for many consumers is a business transaction. This mind set will forever set the destiny the homeowners moral in Irvine. No one thinks of their home as heirloom properties that someday it will be passed on to their sons and daughters.



The unfriendliness and private attitude toward neighbors is a clear behavioral reaction. "I will only be here just for a few years until my investment gain enough of equity so I can move to a bigger McMansion faster than you." "I do not want to invest my emotion toward the neighbors and their kids because I am afraid of letting go and my children Ryan and Rachel will be devastated when I decide to move to a fancier investment."



I have researched neighborhoods across America and my finding for South OC is accurate. For most they are for $$$$ and the real meaning of quality of life and friendships that we all yearned for in many small towns Americana is only a marketing mirage painted in our heads of the proposed good life.



A real neighborhood is only when a homeowner is committed for life. One takes the stewardship of harvesting the fruits of generations growing up in the neighborhoods and seeing their grandchildren carrying on the legacy of the community.



We live in a disposable society. When our community, marriage, and family are broken we just move on to another one. Look at Central OC it was once a desirable place and residents moved on when things got tough. Back in the 60's the happiest place on earth was Anaheim and it is now it is the hell neighborhoods of OC.</blockquote>


bk -



I appreciate your viewpoints and your expertise in a wide array of topics (including shoes) in this forum. I respectfully disagree with this particular opine, though, as I think it is too broad a generalization. <strong>There is always an opportunity.</strong> Don't throw the good that is here out with that which you deem disposable. The fact that there is so much potential, I think, is why so many are concerned and take the time to participate here and elsewhere.</blockquote>
 
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