I’ve been in the real estate sector since 1976. Longer if you consider that my Dad was a real estate broker and as a kid I used to sit in his office and answer his phone for him. And page through the old MLS books. Sometimes it seemed like his idea of spending quality time with the kids was to drive us around to open listings. I should have known right then and there that no matter what I did, I would end up right where I am. Here I am. Parked in the middle of the wildest real estate market in years. There’s an article in the San Francisco Chronicle about appraisers and how their jobs have become a tedious balancing act. Here’s a quote from Karen Mann, an appraiser they’ve interviewed for the story.

“I’m seeing an increase of about 20 percent in Realtor activity,” she said. “In a market like this, you have to be as exact with the listing price as possible. If you over-list, you run the risk of staying on the market too long and becoming stale.”

Here’s where the rubber meets the road. It’s a delicate dance of death arriving at the right listing price. Too low and you are leaving money on the table. Too high and you’ve lost money by going stale in a declining market. Do a couple of price reductions and it’s just like chumming the waters.

Can’t you feel them circling, honey? Can’t you feel them schooling around?

If a property sits out on the market 60 days, 128 days, it’s hard to move it at that point. More often than not, the property will have to come off of the market, experience some upgrades and return six months to a year later. What if you don’t have that kind of time? Walking the fine line of getting the most for a property involves some realistic market research and some creative marketing. In a tight market like this, people are more inclined to go it alone to save a few bucks, which is the worst thing they could do. That’s actually the best way to leave money on the table.

Right now, more than ever, you need professionals on your side. You need a local real estate professional, a local loan professional and a local appraiser. You need people who know what’s happening here, in Contra Costa County on your team. You need marketing. You need solid advice, even if it’s not what you want to hear. If you have to do business in this market, don’t go it alone. Put a team together.