Well it's been a while since I made a Blog entry. The fact is, I have had a busy year so far, I am pleased to say. Now, I am doen to one listing and two homes in escrow that are coming up to closing so at last I have some time for myself.

So what about the San Ramon real estate market? For me it's been fine this year. Other agents are tearing their hair out with too many listings that won't sell. As I seee it, there are still a lot of overpriced listings. Many sellers (or would be sellers!) still seem to think we are in the 2005 market and are pricing their homes accordingly. Agents who should know better are taking these overpriced listings and complaining that they are not selling. What do they expect?

In my view, an experienced agent has a responsibility to explain the facts of life to a potential seller. The figures are all there in black and white. We all have access to the same data. If the last 6 months comps show a home is worth no more than $800,000 there is no point in listing it for $850,000. I don't really blame the sellers. They don't understand the intricacies of pricing and valuation but agents should educate them.

In the San Ramon Valley, when listings expire, they are re-listed by the original agent 90% of the time at a reduced price. If it is reduced enough, the home sells. Otherwise the cycle repeats itself. With that knowledge many agents are much more concerned about getting the listing at any price rather than telling the seller the truth about value and losing the listing to another agent. The concept of buying a listing is alive and well in our area.

I have been fortunate in that most of my listings this year have come from either referrals or from people who know me because of my farming activities. I see homes for sale in my farm area at inflated prices and it makes me sad. And these are with experienced agents.

In reality, our market is fine provided that a home looks good when it goes to market, is professionally marketed to potential buyers and other agents, both by conventional meand and via the Internet, and is priced right. It really is a neutral market right now. San Ramon has 3-4 months of inventory (single family homes). That would seem to favor neither buyers nor sellers. Sure, July has quitened things down a little. August will probably be the same but we'll be back with increased activity in the fall.

Life is good!