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August 30, 2007

Home Sales Decrease 22.7 Percent in July

According to the California Association of Realtor who released information today home sales decreased 22.7 percent in July in California compared with the same period a year ago, while the median price of an existing home increased 3.2 percent.

“The decline in sales we experienced in July continues to be driven by both tighter underwriting standards since the start of the year and the adverse psychological impact of news and information regarding increases in foreclosures and the subprime situation,” said C.A.R. President Colleen Badagliacco. “Although the median price posted an increase statewide, there is a disparity between the lower-priced or entry-level markets where prices generally are soft at best and sales have declined sharply, and some higher priced markets that continue to experience price appreciation along with somewhat smaller decreases in sales.”

To read the entire article click here.

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August 16, 2007

July Home Sales Hit 11-year Low

It was two years ago this month that some housing experts began seeing the first signs that the Sacramento region's housing boom had begun to peak. "The bell has tolled," said Lyon Real Estate owner Mike Lyon in August 2005, declaring that the era of skyrocketing home values and sales may have hit its high-water mark.

Read the full story here:
http://www.sacbee.com/103/story/327973.html

Posted by Jeff at 7:09 AM | TrackBack

August 9, 2007

Inconvenient Truths...

Selling a house is often romanced and presented differently than it's reality, prettier seen from a distance than up close. Most people who have been through it have a thing or two they would have done differently had they known from the beginning all that would be required of them. In this newsletter I treat readers as mature adults able to, as Jack Nicholson famously put it, "handle the truth." Over the years I've observed certain behaviors that highly successful sellers engage in that others do not--I believe mostly linked to their understanding of and willingness to accept and manage the "inconvenient truths" of house selling. Now, more than ever, it is important for you to understand, and as Jack says "handle" the truth.

Here are a few examples to wet your appetite...

#1-There Is No Tomorrow, No Yesterday, There Is Only Today.
The inconvenient truth is buyers will only be responsive to a price that is solely based on present moments, not the recent past or the promise of tomorrow's market.

#2-Being Cheap Costs More.
The inconvenient truth is bargains are most often offered by those less capable, and in the end aren't really bargains at all and end up costing you more.

#3 Experience Matters (A Lot).
The inconvenient truth is not all agents are of equal value. Not even close. You're asking for trouble if you focus on ANYTHING other than ability to perform the required task at the highest and best level (see #3 above).

#4 If It's Meant To Be It's Up To Me.
The inconvenient truth is you can fight, resist, or ignore your agent's advice and in spite of the agent performing their job perfectly your home can take longer to sell or not sell at all.

There is great temptation to shop for an advisor who give you advice you like and agree with. This is the temptation that virtually guarantees frustrating failure. Remember, unwelcome advice from a worthy voice is often the very advice you should follow.

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