There have been two topics in particular I have seen repeated across the blogs this weeks. One, of course, relates to the wacky goings-on of that two-headed monster, Case-Shiller. The latest results from the index that never sleeps came in, but more on that in a moment.
The really big news on the blogs seemed to be that Google updated its PageRanks (PR). For those of you unfamiliar with Google PageRanks, let me try to explain.
I have absolutely no idea what it means.
But, I am getting the sense that I should, or I should at least care what mine is. Now, the fact that this whole web site ranking system is foreign to me may come as a big surprise. It certainly does to my husband. While the reality is that I am tenaciously trying to remain straddled atop the bell curve of technology, Steve thinks I am a computer science genius. This is because he has seen me perform some amazing feats such as reboot without unplugging the power cord, resize photos without scissors, and, with a simple series of keystrokes, insert the little ® after Realtor®. And Case-Shiller®. Most recently, he even watched in awe as I Googled “how do I find my Google Page Rank” and with great success.
My PR is 5.
Now, a 5 sounds pretty good because, best I can tell, this is on a scale of one to ten, ten being reserved for Google.com. (It is, after all, their system.) That would make our site half as good as Google’s. Well, not really, because it appears they use some fancy logarithmic grading scale, making my 5 a tremor that no one feels as compared to their death and destruction 10, a 10 marking total global domination. And it seems that I am in good company. Google appears to dole out 5’s like Costco doles out free potsticker samples. Sure, Realtor.com boasts a 7. So, too, does standardandpoors.com. But then, they have Case® and Shiller®.
The Standard & Poors/Case-Shiller Home Price Indices®®® use a methodology which is almost as decipherable as Google’s. We tried to shed some light on it here. For our purposes in San Diego, you need only understand that our trend line is still heading south. Without beating the micromarket horse, our metro area as a whole continues to see its index drop in double-digits (down 19.2% for the year). Out of the 20 metro areas surveyed, only Phoenix, Miami and Las Vegas saw bigger drops. Unlike Google PR, however, bigger isn’t better.
Here’s the overall composite trend line:
Did I mention I also know how to stand charts on their heads? I think I like this one better.
It’s a great time to buy!