MoCoRealEstate

Montgomery County Is Only 1 of 3 Places Where You Should Make a Home Purchase

August 31st, 2009 Categories: In General

If you are planning a home purchase in Seattle, zip 10005 (New York City) or Montgomery County, Maryland – go for it!  Don’t worry about the specific location or asking price.  These are fantastic places to buy a home so purchase with confidence.  Just do it!

What about home buyers in the remaining 99.5% of the U.S.?  Hmmm… it’s best to stay away.

If this sounds silly, it is.  But this is the advice recently given by Jim Cramer on The Today Show (Montgomery County gets referenced at minute 1.40).

Superficial, glossy guidance like this is a prime example of why home buyers and sellers are best served by turning off the TV before planning a transaction.  In Montgomery County, the health of a neighborhood’s market is directly related to its location and price range.  I’m not sure why we were singled out as an OK place to buy, but I doubt the advice was the product of an extensive analysis of our market.

If you are still swayed by the charms of Jim Cramer, take a look at the following video starting at 1 minute 17 seconds with his thoughts on Bear Stearns.

Stick to Jim Cramer and his pals on cable TV for sound-bites on the real estate market.  You can always contact us for a more detailed, thoughtful guidance on how the status of our local market would have an impact on your home selling or buying goals.

Posted by Bruce Lemieux

This entry was posted on Monday, August 31st, 2009 at 5:48 pm and is filed under In General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. John C said at September 1st, 2009 at 8:42 am

   Matt Lauer = Prince Of Fluff, Jim Cramer is overreacting from bank collapse and has lost all credibility – why not say yes I was wrong and move on and I would still respect him. The NAR is nothing more than lobbying group of which I am forced to be a member.

2. Bruce Lemieux said at September 1st, 2009 at 11:12 am

   I couldn’t agree more, John. I wish that I could take pride in NAR. But they don’t provide buyers and sellers with realistic guidance either. According to them “it’s always a good time to buy”. All these guys add noise that makes it even tougher for consumers to make informed decisions.

3. John C said at September 1st, 2009 at 11:38 am

   I didn’t watch the whole video. I started to barf and had to click away. But when Lauer was yelling at the NAR dude to “NAME ONE” place to buy in america, NAR guy should have followed his own advice and gone hyper local, naming not towns, but specific addresses in his own town that are good buys. Then challenged Lauer and Cramer to debunk him, which they can’t, thus proving the “RE is Local” mantra for the millionth time. But the NAR needs to get out of the advice biz and simply publish a huge database of sales info from all MLSes. Fire all of their “economists” – save a lot of my $, let their sole purpose for living be to collect and maintain the most accurate home sales info database that there is. Make it searchable and sliceable and dic-able so we can use it. Update it real time. Instead of only once a year, do monthly home buyer / seller surveys and make them FREE to everyone, not just realtors that pay another $100 into their lobbying coffers. And do nothing more.

4. Mario Blautzik said at November 17th, 2009 at 6:22 am

   Your post on Kramer is Right on the mark. I really enjoyed the Jon Stewart segment. It is wiser for buyers to get their up to the minute market information from a well informed Realtor. We are already seeing competing offers on homes listed in Montgomery County so it’s better to turn off the t.v. and get the straight and narrow from a Realtor in your area.

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