ラスベガスをflip-floppingローカルコンサルティング会社の証拠はマンションstatsを除去する。
Luxury Realtyのグループ- 2008年1月12日掲示される
部門: 高層コンドミニアム
最近、私はリゾートの通路のマンションの市場がラスベガスのストリップについての媒体によって偽の報告に関しては経験している深刻な問題に演説した記事を書いた。 多くの場合、レポーターは統計量をflip-flopローカルコンサルティング会社から情報を手に入れている。 場合およびポイントか。 ローカル会社はちょうど1平方フィートあたり高層販売そして価格が上がることを言うレポートを解放した。 前にちょうど週後のこれ、出版物の高層市場を強くぶつける。
何回も、ローカル分析者に不動産の少し経験がある。 仕事は場所でpre-construction statsのような定性をのような理解しないために数を砕くこと単にである MGMの蜃気楼CityCenter だけか2007で不動産ラスベガスのストリップの$1.5に販売されるどれ。
すばらしい例は1つの週回の2つの別々の記事の完全に反対の視点を共有したローカル会社である。 または媒体レポートの悪事に得たどちらか。
約最近の記事 切札はそびえている、レポーターは、そして中間のための中央の価格あったと高層ビルは2007年ことをに15%に高層コンドミニアムの市場は一世帯の国内市場より悪い形に落ちたと言ったローカルコンサルティング会社からの源を引用し。 週の時間よりより少しでは、これは非常に高層販売が2007年の第3四分の一で劇的に増加し、贅沢なコンドミニアムの1平方フィートあたり価格に上がった5%まであったと言う同じ会社レポートを解放した。
How could the high rise market be worse than the single family home market in 2007 and experience an over 15% decline in median pricing while at the same time experience a 5% average price per square foot increase in the 3rd quarter of 2007. The numbers don’t add up. This type of thing happens all of the time.
Who is to blame?
Consulting firms or reporters who don’t fully understand the dynamics of this niche market? Perhaps real estate agents? How about EVERYONE.
Why consulting firms make mistakes?
- They’ll look at the overall housing market and mesh into one rather than realize high rise condos are a different entity. This is a big mistake as the single family home and high rise markets are separate entities.
- They’ll compare all Las Vegas high rise markets as one and blend comps. This can’t be done as the Resort Corridor (core Strip) has smashed all other high rise markets over the last 24 months in pricing and sales.
- They’ll ignore pre-construction sales. You can’t say sales are slow on the Strip when CityCenter sold $1.5 billion in real estate in 2007 alone. Many times, consulting firms do not have access or have knowledge of new sales in escrow. This is misleading to the public. Don’t you think the whole story should be told?
- Many times, they’ll say that 100,000 luxury condominiums have been cancelled without ever explaining they were never real projects to begin with. How come? Because they don’t know any better. Why? Because they are not real estate agents, they are number crunchers. They don’t always sniff out land flips, challenged projects etc. What they look at is the county records for proposed and cancelled projects. PERIOD.
- They use the MLS (multiple listing service). Well that’s a problem if they aren’t calling every single new development in town and getting ALL pre-construction stats as well. You can’t judge a market by only reporting resale listings, or recently solds.
- Sometimes a representative of the company will give a quote while they don’t realize another dept or individual is finalizing a study that proves otherwise.
See what Jane Wells and CNBC had to say about the high rise condominium market
Why do reporters make mistakes?
- They have deadlines for stories and can only do so much due diligence.
- The truth is sometimes difficult to find as some developers do not want to say how good or bad they are doing.
- They are writers, NOT investment experts or real estate market experts.
- They get bad info from consulting firms or agents who may not know the latest.
- Human nature. Mistakes happen. The problem is…when mistakes go to print, the entire world sees that news as truth.
Why do most people not trust real estate agents for trustworthy information?
- Because they’re sales people and usually hype the market.
- Because very few specialize in the niche of high rise and usually have just as much false info as a reporter or consulting firm.
- Many have outdates websites and blogs which focus on hype and sales rather than educating readers through factual statistics.
Learn 15 questions to ask a Realtor before hiring them to purchase a luxury condominium
News and Information needs to get better for the consumer.
Seeing a local consulting firm quote things are horrible one week and then release a report the next week saying stats are up is frustrating. Not to mention confusing for the consumer and horrible for Las Vegas. Unfortunately, it doesn’t surprise me as I see it happen frequently.
I challenge all forms of media, consulting firms, and real estate agents to do a better job reporting the Strip in the future.
Aaron Auxier, REALTOR® can be reached at 702-205-1818.
Luxury Realty Group is recognized by the press as a leading brokerage on the Strip. They can be seen on networks and in publications such as CNBC, Forbes Magazine, Details, LV Business Press, Wall Street Journal, The Review Journal, Los Angeles Times and USA Today.
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Copyright © 2008 Aaron Auxier. All Rights Reserved.
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All information in this blog is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive. See DISCLAIMER.
Copyright © 2008 Luxury Realty Group LLC. All rights reserved.