When Realtors get paid, it's a trickle-down effect.  There are over a hundred other professionals who also get paid:  Pest inspectors, property inspectors, photographers, stagers, house cleaners, haulers, painters, window cleaners, title companies, disclosure companies, home owners associations, transaction coordinators, movers, sign companies, printers, landscapers,  locksmiths - that's just off the top of my head.

So what's the reality of the market?  The number of home sales is down - way down.  Meaning there are a lot of families struggling out there.  Title companies and real estate offices are closing multiple offices at a time - and no doubt that the other companies that service the industry are too.

Here's the facts:

Pacifica is a familiar market to me.  I grew up there and worked only that market until a few years ago when it became apparent that I needed to broaden my coverage area.  Although the number of sales only declined 9% between 2007 and 2008, the dramatic difference is looking at the height - 2003 with 423 houses sold - and then looking at 2008.  That's a whopping 59% decline.

San Mateo is a similar picture:  19% decline between 2007 and 2008.  47% decline from the height of 897 houses sold in 2004 compared to the 473 in 2008.

As I've shown in several past statistical reports, Daly City is boucing back.  The deal-seekers have hit it hard - sales dropped to a low of 334 in 2007 to 438 in 2008; only 22% off from its 2004 high of 558.