Comments on: NAR Inventory Methodology, or Lack Thereof http://housingdoom.com/2007/04/27/inventory-methodology/ Sat, 11 Feb 2012 07:12:54 +0000 hourly 1 http://wordpress.org/?v= By: toysarefun http://housingdoom.com/2007/04/27/inventory-methodology/#comment-4938 toysarefun Mon, 30 Apr 2007 18:48:11 +0000 http://housingdoom.com/2007/04/25/inventory-methodology/#comment-4938 The one good thing about lack of standards is that it still leaves some room for self regulation and a little mystery. From what I've been told by a realtor or two, the MLS is just a listing of houses that don't sell right off the bat. If their are two entries for one house then it was keyed in twice for some reason or another. Maybe the seller is going with several different realty companies and a mistake was made. The one good thing about lack of standards is that it still leaves some room for self regulation and a little mystery. From what I’ve been told by a realtor or two, the MLS is just a listing of houses that don’t sell right off the bat. If their are two entries for one house then it was keyed in twice for some reason or another. Maybe the seller is going with several different realty companies and a mistake was made.

]]> By: Russ http://housingdoom.com/2007/04/27/inventory-methodology/#comment-4937 Russ Sat, 28 Apr 2007 06:19:45 +0000 http://housingdoom.com/2007/04/25/inventory-methodology/#comment-4937 The whole bedroom/den nonsense seems pretty sketchy to me. If it is an enclosed room with a door, a window, a closet, and no toilet, it is a bedroom. I guess that this one is within the letter of the rules, but I still would not do business with anyone so comfortable with subterfuge. Using different exterior photos is even sketchier. Why not just use the nicer photo(no car) for both listings. Twist, you forgot a couple of other scenarios: two cancellations or two expirations. The whole bedroom/den nonsense seems pretty sketchy to me. If it is an enclosed room with a door, a window, a closet, and no toilet, it is a bedroom. I guess that this one is within the letter of the rules, but I still would not do business with anyone so comfortable with subterfuge. Using different exterior photos is even sketchier. Why not just use the nicer photo(no car) for both listings.

Twist, you forgot a couple of other scenarios: two cancellations or two expirations.

]]> By: twist http://housingdoom.com/2007/04/27/inventory-methodology/#comment-4936 twist Fri, 27 Apr 2007 17:22:28 +0000 http://housingdoom.com/2007/04/25/inventory-methodology/#comment-4936 AZKevan- It would be really difficult to get an accurate report using the MLS data. <em>[I would know- I try!]</em> At least when I do a report using this data, I try and list potential issues with accuracy, i.e. "not adjusted for inflation," or "median may reflect the mix of houses sold, not same home appreciation," etc. Sometimes crummy data is all you've got, that's why stating margin of error, methodology, etc. is so important. Unfortunately most people are just looking for the soundbite, and that's what they're getting. You'd think people would want to dig a little deeper before signing a 30 year contract. AZKevan-

It would be really difficult to get an accurate report using the MLS data. [I would know- I try!]

At least when I do a report using this data, I try and list potential issues with accuracy, i.e. “not adjusted for inflation,” or “median may reflect the mix of houses sold, not same home appreciation,” etc.

Sometimes crummy data is all you’ve got, that’s why stating margin of error, methodology, etc. is so important.

Unfortunately most people are just looking for the soundbite, and that’s what they’re getting.

You’d think people would want to dig a little deeper before signing a 30 year contract.

]]> By: azkevan http://housingdoom.com/2007/04/27/inventory-methodology/#comment-4935 azkevan Fri, 27 Apr 2007 15:53:44 +0000 http://housingdoom.com/2007/04/25/inventory-methodology/#comment-4935 Inaccurate public reporting can and does put publicly traded company officers in jail. I've said this before, if the real estate industry was held to the same strict standards as the securities industry, there would be a lot of people in jail. Except the difference here is we aren't dealing with a handful of stocks, we're talking about the biggest single investment most families will make in their lives. How can discrepancies and data 'dis-integrity' like this be allowed? But then, maybe I'm just cranky this morning... Inaccurate public reporting can and does put publicly traded company officers in jail. I’ve said this before, if the real estate industry was held to the same strict standards as the securities industry, there would be a lot of people in jail.

Except the difference here is we aren’t dealing with a handful of stocks, we’re talking about the biggest single investment most families will make in their lives. How can discrepancies and data ‘dis-integrity’ like this be allowed?

But then, maybe I’m just cranky this morning…

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