Mike,

It is actually not a matter of pointing fingers when someone asks a question, unless you feel threatened. Please don’t feel that way, in the end I was trying to stimulate sellers to look at what they are doing… most Realtors are doing their part to tell their clients about how prices will dictate sales in the end, plus all the other normal things we all do such as staging and repair issues etc. Sellers are asking these questions and there is quite some turmoil in the market place, as you pointed out with how your sales dropped 45%... ouch.

I had one seller contact me to list her home and told me that I would be the 4th agent she has hired in a year..., each for 90 days and she cancelled on some. She told me that "the agents just aren’t doing their jobs..." and so I explained the terrain upon which we are finding ourselves deployed and how in the end price was king. In the end these are real concerns people have and it should never be considered as pointing fingers... as though politically incorrect, when sellers are looking for answers. We need to help sellers understand things like this... it doesn't matter how many agents they hire and fire, if their price is not in line with the market their home will not sell. This market is really hard to take for sellers these days, many are really hurting and we must help them to see what is going on, listen to their hurts and try to help, thus the 3rd answer is most correct IMHO.

Best regards,
-Don

PS, I graduated from Napa High in 1968 and have seen a lot of changes over time in the Bay Area as well as all over the country. As for poor sales, this too will pass.

Sun Dec 23 2007, 23:34

Don, Pointing fingers achieves nothing. In Sonoma County our sales for the County hit a brick wall with the first wave of credit warnings in late August and resulted in sales dropping 45% of the year before and we've not gotten over 225 sales per month since then. I belive the ONLY control you have over the market is when you set price on the subject property. Many don't realize that pricing is 90% of MARKETING!
So if you wish to point fingers then point them at Realtor/LIcensees who are "weak" on setting price because they don't want to tick off the Seller. But many Sellers, when told the truth about the market and price "Can't take the truth!" (apologies to Jack Nicholsen!). But the overall condition taking you there is like Ruth said, "the things I cannot change" You can't control interest rates, the Fed's actions, the credit crunch but you can control PRICE, CONDITION and TERMS. Your also STUCK with your Location!!
Good luck!! But for now--enjoy the Holidays, have a Merry, little Xmas and hope it is going to be great in 2008. Or , we shall meet our fate in 2008??!!

Sat Dec 22 2007, 21:16

The Serenity Prayer

Grant me the serenity to accept the things I cannot change;
courage to change the things I can;
and wisdom to know the difference

Seasons Greetings,
Ruth

Sat Dec 22 2007, 20:05

There is no easy answer to this question. Some homes sell in a few days, while others may take several months. Recognizing key factors we control that influence the market may significantly reduce the time it takes to sell. These include CONDITION of the property, PRICE, MARKETING, and ACCESSIBILITY. I just wrote something on this and posted it as "My News" to my website.

Sat Dec 22 2007, 19:44