I might be reading too much into a phone conversation, but yesterday we had another open house, and when I called our real estate agent to check in, she sounded depressed at the turnout.Â Only three people came to see our place, and next week it’s probably going to be less.Â
“Open homes really don’tÂ sell homes” — at least that’s what our real estate agent keeps telling us — so I’m wondering if she was just feeling down because of all the media attention focused on the crappy state of the market.Â
Case in point:Â the SF Chronicle publishesÂ two front page stories on the Bay Area market and the number of foreclosures in cities close to ours (HERE and HERE) .Â And a few days before that, the Contra Costa Times published a story on a new school that won’t be opening in Oakley (which is about 20-ish miles from us).Â Why?Â Well, there aren’t enough kids living in Oakley to fill the school, so the buildings remain empty (The story is HERE).
So…You add up the local media coverage, combine it with the continuing national coverage of the subprime meltdown and, well, you get a trickle of buyers at open homes.Â I’m still holding out hope that the two leads our agent has will result in an offer (and a good one at that!), but that depressing tone I heard in our agent’s voice makes me feel like it’s going to be a long road to a contract.