If it's Tuesday it Must Be Brokers' Tour

Well it is Tuesday and in San Mateo County, that's Brokers' Tour day for the thousands of Realtors who try to stay on top of all the new listings coming on the market.

Today there were 94 new single family homes and 34 new condo/townhomes. So now there's a total of 2,136 listings available for sale in San Mateo County. And you still can't find something you like? Last month there were a total of 743 new listings and 90 sales. You do the math. It's a buyers market with so many more homes coming on the market than there are selling. But it's not going to stay that way.

I held one of my listings at 720 Franklin Street in Montara open this past weekend. I spoke to over a dozen interested parties and asked them what was holding them back from making an offer on the property. A few of them had a home that had to sell before they would do that. But the others were just waiting. For what? For prices to drop, for the election to be over, for interest rates to go down? I just think that buyers are just plain scared. They haven't gotten over being shell shocked from the multiple offer syndrome that has just plain immobilized them in the past couple of years.

The truth is that in this market, you CAN MAKE AN OFFER. That's how the buying process begins. A buyer puts in writing what they feel they want to pay. The seller responds to that offer. The multiple offer syndrome had sellers rejecting offers outright and not responding at all. That made buyers gun shy. But times have changed. Sellers need to hear what you will pay and they need to respond.

So what I'm saying is you don't have to wait until later in the year, or for interest rates to drop, or for consumer confidence to return, or the deficit to disappear, or for any of the other lame excuses I'm sick and tired of hearing. There will always be some excuse if you don't take action. If you're really serious about buying a home, call me now. Remember I'll cut your first year property taxes in half with a tax rebate at the close so you're already ahead of the game.