Bob, it's very difficult trying to convince an owner to sell under market.  I'm fighting to get sellers to list at market.  Sellers are still in the Seller's Market heyday and think they can get those prices. 

In fact, some of them who have lived in their homes for 20+ years feel they're losing money because their home was worth more a few years back than it is today.  They weren't ready to sell then, so they can't look at it that they "lost" money.

The only sellers losing money are those that bought a few years back and are moving already, after only 1-4 years.  Those are the sellers who will have to bring money to the table or do a short sale or foreclosure.

I give sellers a Comparative Market Analysis showing market value based on current market conditions.  The buyers dictate the market and the appraisers make sure they're correct.  In fact, I'm hearing more and more stories about homes not appraising in this declining market.

If you look at the chart above (which I did not create) it proves how much inventory is available vs. how many willing, ready and able buyers are out there.  That's why we're seeing some homes languishing on the market for 1 year, 2 years and even more.  Those homes are not at market value and will not sell.

And when you have short sales and foreclosures as your only recent competition, you either price correctly for today's market or you're probably going to wait a long time.  In fact, if a seller doesn't need to sell in today's market, I tell them not to.  I want clients for life.

OK, Bob, I'm not going to convince you and the facts aren't going to convince you.  I can only hope you're not trying to sell right now.  If you put your home on the market today by owner and did not price it correctly, it's not gonna sell.  1999 was nothing like 2009. 

I've been in the business for 26 years.  I've seen interest rates at 18% and higher. I've worked all kinds of markets and this is the worst ever.  Back during those high interest rates there was seller financing.  Sellers don't have the equity to be able to do that now.

A few years ago you could get a mortgage as long as you were breathing.  Now it's just the opposite - there are fewer buyers that can qualify.  Now we have a new appraisal system that just started May 1st.  Did you know about that?

Look at that chart above again - it's fact.  Today there are 332 homes up for sale in Orland Park and only 48 are under contract.  That is a true buyer's market, meaning there are still 284 homes out there for a very limited supply of ready, willing and able buyers.  I'd love to have your rose colored glasses.

I don't lie to my clients and I'm not out to make a quick buck.  I just don't work that way, nor do I need to. 

OK, one final post here as you also ranted in another post of mine that had nothing to do with this one.  You think what you want - t's your life.  Yes Bob, I would like to know where all the ready, willing and able buyers are so the chart wouldn't have such a lopsided oversupply of homes.

In my opinion, the fact that the chart shows 300+ homes for sale and less than 50 accepted contracts tells me something about the shortage of ready, willing and able buyers.  If there were enough of these buyers then the chart wouldn't look the same way.  Are we viewing the same chart?

I'm finished with your rant.  I was not the agent that came to your door.  Call her back up and tell her off if she offended you so much.

If you continue with this and it escalates I will disable any further comments from you.  You've made your point and I'll allow it (remember, this is my blog).  I don't mind a healthy debate but you are certainly not going to convince me - this is what I do for a living and I know what I'm talking about.