Data Cancer Due to Waivers

[Joyce Potts]

Great show about data cancer and home workers returning to the workplace.

 

[Terrel L. Shields]

He mentioned you

 

[Mejappz]

Well, there you have the evidence. And what one juiced-up sale can do to the market.

 

[Whtwhale]

During the Covid boom, we had 1 sale that was a waiver in a cookie-cutter development that agents would use to price everything else irrespective of applicability. It certainly goosed prices for a few months,. And to think, that one sale is also feeding into the AVM's creating a feedback loop of overvaluation.

 

[shrubberyvaluation]

During the Covid boom, we had 1 sale that was a waiver in a cookie-cutter development that agents would use to price everything else irrespective of applicability. It certainly goosed prices for a few months,. And to think, that one sale is also feeding into the AVM's creating a feedback loop of overvaluation.

You still need willing buyers, but yea easier credit makes prices go up. Just like with college tuition.

 

[Non Sequitur]

Thanks for the post. And you got a shout out!

 

[Terrel L. Shields]

FOMO fueled cash sales that inflated prices during COVID and until that pandemic price jumps deflates or inflation catches up with it, there will be little improvement in the market sales numbers.

 

[OSU Beavers]

The worst Data Cancer I have seen comes from bad/lazy Realtor listings. The same nitwits have been listing the incorrect site size and/or square footage for 30 years. Sure Big Data can get the correct info by ripping off our reports, but they seem to take the MLS as gospel.

 

[J Grant]

The worst Data Cancer I have seen comes from bad/lazy Realtor listings. The same nitwits have been listing the incorrect site size and/or square footage for 30 years. Sure Big Data can get the correct info by ripping off our reports, but they seem to take the MLS as gospel.

RE agents are a popular choice for people who do PDR collectors - they frequently call a condo a townhouse and vice versa, ( when it is a townhouse style but condo ownership)
They write "ocean view" then the only view is a tiny corner sliver of the ocean from out on the balcony. And incorrect sf as you noted.

 

[Joyce Potts]

The worst Data Cancer I have seen comes from bad/lazy Realtor listings. The same nitwits have been listing the incorrect site size and/or square footage for 30 years. Sure Big Data can get the correct info by ripping off our reports, but they seem to take the MLS as gospel.

Which is why those appraisers who live in a false world of moral superiority and brag about calling every Realtor to get information that they didn't put in the MLS to begin with never ceases to amaze me. Realtors are commission compensated, always looking for the neighbor's listing as well. Do you really think they're going to divulge certain information just because an appraiser calls them? As far as I'm concerned, Realtors are not true independent verification sources. Admittedly, an outlier comp often has a reason that the Realtor might disclose, but not always. And in this day and age of litigation, I wouldn't risk telling an appraiser any other information that isn't already in the MLS.