This past weekend, I was driving home from church when I saw this sign:
I immediately had to wonder whether the person doing this marketing has the colossal ignorance necessary to think that Obama is paying anyone to buy a home, or whether he/she’s simply trying to take advantage of the people who do have the requisite colossal ignorance.
Or maybe it’s just smart marketing that we can all learn from.
Your thoughts are welcomed and encouraged – thank you for reading RealEstate.BryanEllis.com!
Facebook comments:
Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.
Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.
Few things change more rapidly than the mortgage market, and with the increasing dominance of GSE's Fannie Mae and Freddie Mac over the mortgage business, it's more important than ever to keep up. Here are a few recent mortgage news updates:
Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.
Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.
Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.
In my humble opinion…it’s absolutely nothing short of PATHETIC regardless of the motivation or reasoning. I’m so angry seeing something like this that it leaves me speechless to say anything further and it’s rare that I’m ever speechless.
Maybe he has a contract with Geithner that we haven’t heard about yet!
On the other hand, maybe the communist running this country just hasn’t told us about the latest crap they are about to spring on us.
Now that I gotten some of the worst of my rant out. Who the hell is going to buy it? Why would anyone in this country think there is any reason to invest in anything?
With the latest idea of the government setting how much executives can make and telling us they are going to only raise taxes on the wealthy 5% and give a refund to 95%, (45% or so don’t pay income taxes), how stupid is our government? Hell how stupid are the people supporting this? Pretty damn stupid it would seem! What part of 10 trillion dollar in deficit is good for our country or our children or ourselves? Even Obama’s own budget projects a slowdown in the economy after 4 years because of his spending!!
This sign tells it all on so many levels. Take your pick which one you like. If any of the levels don’t scare the hell out of you then you have been paying attention.
When the French and Germans think the latest Obama idea is a great idea, we are in even more trouble than we can imagine.
Bryan next time you are on your way home from church and see a sign like this turn around and pray for all of us even more!
Chris B
I can think of several things to say about this sign. None of them would I say in the company of my mother or anyone else that I was raised to respect. So I will not say them here!
Now this afternoon when I go in my man cave and watch some TV show and have a cold one in my hand, it will probably hit me again and I will let something RIP…….
What I will say is some people will try to put a spin or twist on anything, but there is not enough SPIN or Twist in the world to make me put something like that up.
Actually folks, it’s true.
GA is using a special stimulus package from the Gov to grant money to pay for downpayment and closing plus rehab if needed in the purchase of GA properties. It’s called the Neighboorhood Stabilization Program.
The ome must be bought at 15% below Fixed up /Market Value. It starts April 1st 2009. Get Details from the Department of Community Affairs. Works with any Foreclosed on property. HUD/REO. Must be owner occupied.
Oh, come on…..
I have seen these words on-line, on bandit signs and all over.
It is doing just what it is suppose to….getting attention.
and if a buyer is curious…it gets another buyer in the door.
and it is another incentive to get buyers off the fence, and buy something.
the only people that don’t like this, are people that don’t have any real estate to sell at a good profit.
so what,,,marketing is marketing,,, sell something,, get the economy going.
I think it’s great.
I totaly agree with iwoe above–Iam gonna order some today, add a squeeze page and start building my retail buyers list.
I don’t understand. What don’t you people get??? Obama is NOT paying…WE are. It’s a blatant lie. I think it’s horrible and shame on any of you that choose to further drain our country with this type of inaccurate marketing. Sure, it may get the economy going for the short term, but we’re in deep do-do for the long term. A more accurate sign might read…”you’re wealthy neighbor is paying through the nose in taxes so you can buy a home you can’t afford in the first place.”
The only reason that some people think that this is such a moral travesty is because not eligible for the program. There is a huge over hang of inventory in some places (the coastal areas mostly, which happens to be where most of the national news is generated) and those areas need to flush the pipeline to get the real estate market to stabilize.
Complaining about this incentive is very short-sighted. If real estate is in a free fall and you have to get a loan to buy a house why on earth would anyone in a free market scenario bother to stick their neck out and assume that risk? Buying a home requires a significant cash outlay and if the government wants to motivate people to take that step with a one time rebate then I think that it is a good thing.
There were 15,000 foreclosures in my county and so prices are actually now stabilizing to the equilibrium point were it might actually make sense to buy and the mortgage payments to get into something are almost comparable to rents again. Nothing can undo the wreckage caused buy all this irresponsible lending but if we sit idle and nothing is done to incentives home ownership many neighbors around the country are going to turn to cesspools of vacant homes, vagrancy, cause and enable crime and other problems.
If you are an active investor you should be grateful for this program because it is a compelling opportunity for many people to stop renting and fulfill that dream of home ownership. The dream of home ownership in a nice neighborhood fuels real estate investing. The good neighborhoods that we invest in justify our demand for high rents from in order for us to grow our portfolios.
Use caution before you react to this or overreacting to this just because you are pinned down with other issues and it is easier to complain than re-engineer your portfolio. If you were invested in an area where values were down 40% you sure would want to see as many anxious first time buyers as possible lining the streets scoping out neighborhoods and using this incentive as the rationale for them to get off the fence.
Sheesh, Its sad and irresponsible what our so called government has done… to be sure. Just more of the necessary patch work because of the entitlement mentality the liberals have coming down the trough. That being said, (depending on who placed the sign…licensed individual or unlicensed …my guess…unlicensed for sure) there is no regulation prohibiting the use of “no cost” in mortgage advertising…not from HUD, FTC, OCC, FDIC, or the Federal Reserve but to say you “get paid” for buying a home is w/o a doubt …deceptive language.
I get it, the advertiser is probably referring to the 8K Tax Credit for certain homebuyers who close b4 12-1-2009 but, geez, I hope there isnt anyone out there that is that freakin dumb.
I think that it’s funny that there are anti-Obama comments in this thread. Did Obama himself plant the sign?
Of course.
Let’s just chalk it up to smart marketing to the guy who created the sign.
And don’t worry, I’m sure the guy will get plenty of “hate” callers from people who disagree with his tactics.
The bottom line is, in this business, you need to make the phone ring. I think that the sign owner is going to do just that..
Sell houses accepting the 8,000 tax credit as a down payment. 1st time home buyers will be very happy. Sounds like a Win Win for everyone. I am investing in Real Estate to help people get back on their feet.
Here’s the problem I have with it. Obama is not paying them, we the people are paying for this. It is wealth redistribution. Does anyone one know about the frog and the pot? Put a frog in a pot of water and turn on the flame. as the water heats up the frog gets used to it, until it is too late and he is cooked.
Gradual encroachment under any label is encroachment. How about the neighbor who just assumes it is ok to drive down your drive way to get to his property. There is no easement but over time he establishes one. When it is too late it is too late. We are teaching people an entitlement mind set.
I think it’s smart marketing. It gets your attention.
Sounds like the one you Love to Hate. Get over it and get onboard. Hate does not conquer all. You are either doing something about the problem or you are part of the problem.
All this bickering isn’t helping. Go buy another house yourself and sell it to a family in need by providing partial owner financing and earn some money so you can spend on a plate of food that is enough to feed a family of three. That is the American way. Then flush it down the toilet with your non-coopertive, shitty attitude.
Then go to a neighborhood you never lived in (because you were fortunate to have someone that cared about you and perhaps were born with a silver spoon– without your control) and try to understand other’s perspectives and perhaps offer a word of encouragement.
“Tommy is using my toy” is what your grade school teachers probably had to put up with. Now it has trickled into your adult bitching life and you want to spread it like cancer.
By the way, I have 200 yellow squares I’m going to put up to sell houses I don’t own, but will make a win-win-win situation for everyone except the Haters…
To my esteemed readers: I wonder to whom this commenter is addressing his comments. I’ve always heard that one tends to see his own characteristics in others. If so, this person is quite consumed with hatred. Do the rest of you consider the discussion of a marketing strategy to be evidence of hatred? I certainly don’t. –Bryan Ellis
I think the sign is pretty slick…especially in the ‘hood,’ where buyers will take the info almost literally.
Justin, by you comments you have planted yourself squarely into the catagory that gives the REAL real estate investors a bad name. That is the “do whatever, say whatever and hope the end buyer is a complete moron so I can get over on him and I dont get caught” crowd. Learn a bit more about ethics and re-join the discussion.
As for the anti-Obama remarks (which were not mine btw)….I suppose you think that tripling the national defecit is a good thing? Oh let me guess…as long as YOU get “paid” huh?
trip4dave you are completely missing the point. If we continue to give mortgages to people who are financially irresponsible, the foreclosures will continue to flow and we’ll NEVER fix this problem. By giving people handouts, we are perpetuating financially irresponsible behavior.
I’d like to state it again…Obama is NOT paying them to buy a home, “WE THE PEOPLE ARE.” I am very active in my community and even have an “Outstanding Civic Achievement” award sitting in my bookcase, but I don’t want the government telling me where my civic contributions should go.
Have the actual lending rules and regulations changed? Sure they have!! Everywhere you had “subprime” written, you cross out and write FHA. And ta da, problem solved.
I voted Ron Paul, but I’ll ask my fellow investors why he didn’t even get past primaries. Point is we can complain about the situation or see it, and adapt. You don’t like inflation? Too Bad its coming. Buy metal stuff and do it quick, before it rebounds.
A marketer sees the Government incentives being offered, words it in a way that the numbskull who can benefit from it can understand it, I have little problem with that. When I see the heartbroken over extended welfare mom crying “It was so confusing, I just signed where they said to.” And signed up with a stated income of $15k a month. I don’t blame her either, but I was raised not to lie.
Just wait until the water runs out. This financial stuff will look like happy times.
I don’t feel like there is enough infomation on that sign to tell me anything. If he is going to pay me to buy then I’m buying. If this is someone’s idea of a joke, they are probably just saying what a Jack— he they think he is. But why get upset before checking out the details behind the sign
Hmmmmm. I would have to agree that just getting people into the house by wrongful marketing is what gives investors bad names. Real Estate Investors are always marked as unscrupulous and devious. This sign just shows that same type of mindset. If I was selling a house in a neighborhood and said that Thomas Jefferson used to live here before moving to Monticello, I am sure that I would get my phone to ring off the hook like some of the previous responders have pointed out, but I would be LYING. No matter what business you are in, when you LIE, you not only put your personal credibility on the line, you also put the credibility of your occupation on the line.
Why do you think car salesman have such a bad reputation? They were told to say anything to get the car sold and forget the consequences. In this day and age we are so far removed from personal responsibility that we will do anything to succeed (except want to be any AIG representative that has made the money promised them in a contract). Anyway, this type of advertising is not only misguided, but harmful to the people we are trying to help. Getting them into a home by promising that Obama will pay for your house is misleading and only inspires the “I deserve this because….” mentality. Oh well, I am off to honestly build my business and just wanted to comment on where we need to instill integrity in everything we do.
P.S. To those who believe anything the Obama administration says, if any of my words were too big, I apologize. Dictionary.com will be a good resource for you to expand your vocabulary and mind.