I just returned from the National Association of Realtors convention in San Diego. NAR's chief economist Lawrence Yun spoke to a room packed with REALTORS® and projected that real estate prices would climb about 4% in 2010, while the number of home sales will increase 15%.  He also predicts that foreclosures will peak during the first half of 2010 and that Realtor incomes will go up 20 percent next year.

I'm an optimist. Sometimes I even show Pollyanna tendencies, but I just can't join the partying that is breaking out in real estate offices across the nation based on his predictions.

In newspapers and blogs, the mockery has already begun. Take this typical response to Yun's predictions from The Wallet Pop blog: "The good news: National Association of Realtors chief economist Lawrence Yun is predicting that home prices will rise 4% in 2010. The bad news: Lawrence Yun has never been right about anything in his entire life, ever."

A comment on Yun's prediction on the FreeRepublic website by the Antiyuppie was simply "This guy (Yun) was hired because Baghdad Bob had already been snagged By Al-Jazeira. Really."

The Wall Street Journal's Market Watch reported Yun's predictions and has received 200 comments. The most popular comment as voted on by readers was by Economutt, "Gee, I better run out and buy a house before they're all gone. ;-)"

How many times does an economist have to be wrong before people stop taking him seriously? Why do NAR economists as well as real estate association executives feel the need to serve as cheerleaders?

Wouldn't a good dose of reality serve us, as well as the public, better?

Linda Davis has been selling real estate in Ledyard CT for 32 years. You'll find Linda's profile on her Online Buesiness Card. 

Old Time Rainers keep asking if I'll ever do another Carnac Post.  I'm trying to muster up some predictions for 2010.

Tough love with a bite of reality for Sellers in New London County serious about getting their home sold.

Back in the old days, sellers used to turn on all the lights prior to a showing. It helped their home show off it's best features and made it look light and bright for the potential buyer. I suppose it is the idea of saving energy costs that put an end to that staging idea. In fact, I've had more than one seller complain that a showing agent left on a light or two.

I'm all for saving energy but not when it might slow down your home sale.  My advice is to turn on at least one light in every room prior to a showing and maybe more if your home has dark woodwork, wood paneling or is surrounded by trees that block out the natural sunlight. Finished basement areas especially should be well lit so buyers can appreciate that extra space. Plan to waste a bit of energy and assume your electric bill will be a little higher while your home is on the market. You can resume trying to save the planet once the sold sign is firmly planted.

Straight Talk on Tuesday Morning is an ongoing series for sellers in New London County who are willing to listen, roll up their sleeves, and do what they need to do to get their home sold. If your aren't serious about selling your home, then move along. There is nothing to see here.

Linda Davis has been selling real estate in Ledyard CT for 32 years. You'll find Linda's profile on her Online Buesiness Card.

Tough love with a bite of reality for Sellers in New London County serious about getting their home sold.

It happened again this week. An agent listed a home in Ledyard and gave it a Mystic price. I hate when that happens but unfortunately it happens quite often when agents from higher priced areas like Mystic or East Lyme don't make the price adjustment necessary when evaluating Ledyard properties. 

Over the years, I've lost listings to agents who swoop into Ledyard with little knowledge of the area and list homes at grandiose prices that have little chance of selling. I'm not sure what bugs me more, agents who pull this stunt or sellers who list with the highest bidder.

Here's the typical scenario in 2009:  Experienced Ledyard agent suggests a listing price of  $275,000. An agent who needs map quest to find the listing, suggests a price of $300,000 and obtains the listing from the seller, who is thrilled at the potential selling price.

And the winner is... no one. Experienced Ledyard agent loses the listing. Map quest agent never sells the overpriced listing. And worst of all, duped seller doesn't sell their home that has now fallen in value to $260,000.

Sellers Beware!  Be sure to consider the experience of the agents you interview. List your home with an agent that knows your neighborhood.

Here comes the straight talk: You might not like the price I give you, but I'd rather disappoint you now than let you down later.

Straight Talk on Tuesday Morning is an ongoing series for sellers in New London County who are willing to listen, roll up their sleeves, and do what they need to do to get their home sold. If your aren't serious about selling your home, then move along. There is nothing to see here.

Linda Davis has been selling real estate in Ledyard CT for 32 years. You'll find Linda's profile on her Online Business Card.

Tough love with a bite of reality for Sellers in New London County serious about getting their home sold.

This month I started to work with Jo Wood of Showhouse Ready in Gales Ferry. Jo is helping me help sellers in Ledyard prepare their homes for sale. Here's how we work: Jo goes through the house with the seller and makes staging suggestions while I follow along and take notes. It is now part of my service for select sellers. You become one of my select sellers if you have a desire to make your home "Showhouse Ready" and are willing to listen. Jo is probably going to tell you some things you don't want to hear; like removing your personal photographs, your scatter rugs, mostly everything on flat surfaces, and any extra stuff.

Speaking of stuff, I once had a listing with a bunch of stuffed bears in the family room. The home took awhile to sell. I suspect the buyers never noticed the hardwood floors or the fireplace but one buyer and their agent did take time to count the bears. Their feedback was "Do you realize there are 27 bears in the family room?"

If you become one of my select Ledyard sellers and you have bears in your family room, Jo is going to send them away until your home sells. I'm sorry but it's for your own good. 

Straight Talk on Tuesday Morning is an ongoing series for sellers in New London County who are willing to listen, roll up their sleeves, and do what they need to do to get their home sold. If your aren't serious about selling your home, then move along. There is nothing to see here.

Linda Davis has been selling real estate in Ledyard CT for 32 years. You'll find Linda's profile on her Online Business Card.

Tough love with a bite of reality for Sellers in New London County serious about getting their home sold

Since I've been in the real estate business for over 32 years, I usually have a story for any given situation. One of the stories I tell most often, is the one about the sellers who turned down a $228,000 offer the first week their home was on the market because they were getting lots of showings and thought it was too early to accept $7000 less than asking price. Nine months later they sold the house for $189,000.  I admit I stifled an "I told you so".

When you list your home, the very best opportunity of selling it comes in the first 21 days. As soon as your home hits the market, buyers looking in your location and price range will be calling their agent to schedule a showing. In the age where listings show up on the internet just hours after the ink on the listing agreement is dry, buyers are watching hourly for new listings to hit the market. If your home is priced right, you should get an initial flurry of showings. If it doesn't sell in the first 21 days then it might take awhile. The average "Days on Market" statistic in Eastern Connecticut is about 90 days but that's because some houses sell within 21 days and others take 5 or 6 months.

Once the first 21 days are past, only buyers new to the market will look at your home. Bernice Ross in a recent article in Inman News refers to the first 30 days as a "honeymoon period". Although I think that period is shorter than 30 days, I do agree with Bernice when she says "If you don't sell during the honeymoon period, there's a high probability that your property will be on the market for an extended period of time. You can generate additional interest with a price reduction, but it never creates the attention you receive when you first list the property."

So what's my point?  On the first day of the listing period your home should be priced right and in show condition. Testing the market with a higher price for a few weeks or showing the house when it isn't quite ready is a huge mistake. By the time you reduce the price, it's too late; the honeymoon is over.

And one more thing, "Your first offer is often your best offer" so don't blow it.

Straight Talk on Tuesday Morning is an ongoing series for sellers in New London County who are willing to listen, roll up their sleeves, and do what they need to do to get their home sold. If your aren't serious about selling your home, then move along. There is nothing to see here.

Linda Davis has been selling real estate in Ledyard CT for 32 years. You'll find Linda's profile on her Online Business Card.

It's been over a year since I wrote the blog post "Connecticut Foreclosures and Sainthood."  Sadly, many more foreclosures have come on the market and I've gained more foreclosure experience.  There are some great deals on homes that have been foreclosed, many of them are being sold far under market value. In some cases, with repairs and a little elbow grease a buyer can gain instant equity.

As I said back then, you must have the patience of a saint to buy a bank foreclosure. Here's the rub. I have found in many situations that first time home buyers just don't have the patience to put up with all the frustrations that come with buying a foreclosed property.  Quite often, while the buyer is waiting for an answer on his offer, another offer comes in.  They get mad at the listing agent.  Sometimes that's me. 

Today I had an agent send me a nasty email about the wait.  He said it made me look bad since I represented the bank. I suggested he read my blog post "Connecticut Foreclosures and Sainthood."  He didn't appreciate my sense of humor probably because he doesn't have one. 

I've seen first time home buyers give up and move on before the bank finally responds to their offer. On the other hand, investors aka flippers, will wait patiently for a response. I like when my bank foreclosure listings sell and I appreciate the investors who make offers, cash in hand.  It is nice however, when a first time buyer gets a great deal.

It just doesn't happen often enough. 

Looking for a home or have one to sell?  Linda services Eastern CT including Gales Ferry, Ledyard, Groton, Montville, Stonington, Mystic, Waterford, East Lyme, New London and Norwich. You can search for homes all over Connecticut by visiting Linda's HOME FINDER website.  Linda can be reached by email at LindaCDavis@comcast.net or you can find her just about everywhere on the internet.

An email recently landed in my inbox with the subject line " Ledyard Police is now following you on Twitter."  I admit it was a bit disconcerting.  Actually, I freaked out temporarily when I realized I was one of only 3 people being followed.  I ran into  "Ledyard Police" a few nights later.  I'm a member of the Ledyard Town Council and we were discussing the police budget.  (Honestly, I don't make this stuff up.) As it turns out  "Ledyard Police" was following me for all the right reasons.  It seems that police departments in the area are considering Twitter as another resource to notify residents in case of emergencies.

I joined Twitter in 2007. Back then it was intimate, like the bar where everyone knew your name.  Since then Twitter has exploded. When someone follows me, I usually oblige and follow back. As a result, it is often hard to find the good stuff among the noise of people I don't really know.  Fortunately, applications like Tweetdeck allow me to create groups and weed out those that don't contribute to my Twitter objectives.

Like "Ledyard Police", each user has his own reason for following and being followed on Twitter.  I was attracted to Twitter because of the 140 character limit. I seldom read blog posts beyond a few paragraphs.  I don't need the War and Peace version of an opinion on short sales. I'm an Aries and those born under that sign are described as "Lose interest quickly - easily bored."  Yep, that describes me.

Whether I'm speaking as a Town Councilor, writing a blog post or debating politics, I've always been a woman of few words, many of them an attempt to be witty.  "Brevity is the soul of wit" is my mantra.  I doubt I could ever write a book.  I'm sure I would bore myself before the final chapter.  

I don't have any expectations from Twitter as far as putting commission dollars in my pocket.  For me Twitter is more of a resource for making industry connections, following breaking news and events, and picking up tips on the latest and greatest technology.   I'd give it a "5 thumbs up" for meeting those expectations.