I’ve had this discussion with almost every potential seller this year so far… what it takes to get a sale, versus simply being “on the market”. The South Florida Sun-Sentinel puts it in easy to understand terms in their article today, “Selling your home means being realistic in a down market”. [...]

The New York Times today has an interesting and thought provoking article, A Real Estate Deal Seen From 2 Sides, which has fictitious letters, one from a buyer to a seller, and the response from the seller. [...]

While there are a number of somewhat positive signs, there are an equal number of negative signs in the various markets. Some of the areas that have held up well have just recently seen declines in sales, while some of the hard hit areas are now seeing improved sales.

The number of homes sold in Palm Beach County in April 2008 was 662, up significantly from the sales in February and March and even with the figures from the same month in 2007.

“The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now.”

Statisticians already know statistics can mislead, but it’s easy for journalists and analysts and agents, buyers, and sellers to miss it.

The Florida Association of Realtors® has reported that in March 2008, just 572 single family homes were reported sold by local Realtor® boards in Palm Beach County, down 21% from March 2007, with a median price of $320,200, down 15% from a year ago.

On the positive side, the number of homes sold in March jumped from the 401 homes sold the previous month. And we’ve seen more buyers on the streets looking at homes.

In what might turn out to be a domino falling move, some lenders have been freezing or reducing access to existing home equity lines.

What lessons have we learned in 2006 and 2007 about marketing a home for sale?

One very important one is that in a declining market, just like shooting ducks in an arcade, we have to lead the target.

We were seeing increased numbers of homes going under contract in our local offices, and the same increase in sales has been reported from around the state of Florida and now the National Association of Realtors is reporting that nationwide sales were up in February.