© www.weaselzippers.us “No Californians” Stickers Being Slapped On Real Estate For Sale Signs
Comment: Oregon has always had this California bias, nothing particularly new. They just periodically need a new excuse.
Realtor Lori Fenwick was notified of the incidents when one of her buyers sent her a photo of a defaced sign. She shared her findings with a real estate group on Facebook and quickly learned that she wasn't the only victim. Three other realtors piped up including Quinn Irvine of M Realty. "A lot of these homes are going into bidding wars and going over ask price," he said. "And a lot of these guys are getting outbid. And I think they're going around to agents who have properties that have sold over ask price and putting anti-California stickers."
Comment: Fenwick complained that somebody covered her name on one of her signs, replacing it with a phrase: "STOP THE BUBBLE." Fenwick also stated that the realty company pays for the proprietary signs and not for public defacing by putting stickers on them, especially covering the agent information.
Irvine sold the house boasting the unfriendly sticker to a man from New York for $450,000. That sale actually highlights one crucial detail: It's not just the Californians who are moving in on their space. While many of their buyers do come from the Golden State, he and Fenwick reached the conclusion that out-of-state buyers are coming from everywhere. Fenwick went on to say that people upset with housing prices "can just go ahead and voice their opinions wherever they want, but it sucks that they're doing that."
Yeah, totally.
Comment: Out-of-state buyers are coming from everywhere, not just California (the "sticker-face" on this article). Buyers do not control bubbles...the PTB and the banksters do. Perhaps Oregon should acknowledge that, in these testy economic and earth-changing times, at least their RE is desirable and selling?
NAR released a new study in March analyzing the impact of rents rising faster than renters' incomes on home buying trends. Data surrounding income growth, housing costs, and changes in share of renter and owner-occupied housing units were compiled from 70 U.S. metropolitan statistical areas over a five year period. The study finds the gap between stronger rent growth and weaker income growth is increasing barriers to homeownership. In Oregon, permit issuances for new private housing registered declines of 21% first quarter 2015 and a 16% decrease from fourth quarter 2014. This leaves the existing homes market as the main "product du jour." Supply and Demand.