Based largely on a cooling housing market and falling oil prices, the Federal Reserve on September 20 left the benchmark overnight lending rate between banks at 5.25%, exactly where it has been since June 29, when the Fed halted a two-year stretch of 17 consecutive rate hikes. U.S. housing starts in August fell 6% from July to an annual pace of 1.67 million units, the slowest rate since April 2003, the Commerce Department reported September 19. Economists had forecast a decline to 1.75 million units. Starts are down 19.8% from August 2005. Oil prices fell below $61 a barrel on September 22, from an intraday peak of $78.40 on July 14. Many analysts said receding fears about this year's Atlantic hurricane season and ample worldwide supplies could keep downward pressure on crude futures. The Labor Department reported September 19 that wholesale prices rose a scant 0.1% in August, another sign that inflationary pressures were easing. Core inflation, which excludes energy and food prices, behaved even better, falling 0.4% after a 0.3% drop in July. The back-to-back declines in core inflation were the first in more than three years. The Conference Board's Index of Leading Economic Indicators slipped 0.2% in August, following a similar 0.2% dip in July. The decline matched analysts' expectations. The index, which measures 10 key sectors of the economy, predicts economic activity three to six months into the future. The number of U.S. workers filing unemployment claims increased by 7,000 to 318,000, slightly higher than analysts expected, the Labor Department reported September 21. This week look for updates on existing home sales on September 25. Compliments of American Home Mortgage Investment Corp.

This is what I'm hearing off the street. You may read about the market or you may see information on TV. But I will tell you what I hear on the street and what it means to you buyer or seller. As I talk to other agents new and old I hear that the market is slow just how slow. Well if you get one buyer showing on a listing your lucky. The prices are not coming down fast. Sellers are not in a hurry to sell or just don't want to give up the ghost. Greed has make and lost many things. But greed it is. The market will come back but a normal come back is all we need. And what does a normal come back look like. Well with my 28 years experience I feel that a normal market is just a few more sales. Example if a home is listed on the market having at least 4 showings a week that's normal. Have an open house and see 4 to 7 sets of people come thru. If your selling you need to set the price low and firm. If you get no shows within two weeks a price reductions needs to be done. Its a reality. If a seller becomes a buyer you in the driver seat. But you have no control if your home isn't sold. As a buyer now is the best time. You have homes to pick from and room to negotiate. But you need an experienced agent to do this correctly. And now I'm on this point let me explain. There has been allot of new realtors in the last 2 years. More than in the last 6 years in total. They now are feeling the heat with no sales and no way to make a living. They are is not already going back to jobs that play a salary. Watch out for the new and part time agents. Your interest is not save. Remember the greed I spoke about at the beginning of this email. It can't be helped. I'm sure they are fine people but they are dealing with your life savings and an important future. Its not like it was years ago when homes were at $60,000. We are dealing with Hundreds of thousands on a purchase. Its the one biggest decision you will ever make. Have a new or part time agent help you is like having a monkey operate on your brain. Well not as bad but you get the picture. Give me a call if you serious about selling or buying.

The market is still a buyers market. But that's good. If your a seller there are several things you can do to get your home sold sooner than later. Contact us and we will tell you how we sell homes in an 18 average in any market. With our marketing tools you will get the best of the best.

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The market is off 20%. Sales are down and there are many homes to pick from. Now is the time to buy while the interest rates are still low. Thinking about selling you may want to think about having your home staged to get it sold faster and for the best dollar. Check FREE-Homestaging.com

A experienced Realtor will help you get the best service in these sllow times. Never look for a discount broker when the market becomes slow. You will lose more than you think. Give us a call and we can tell you more. 408-691-7700 and ask for Paul Conti

The San Jose market is showing some life after 4 months of slowness. The Morgan Hill and Gilroy market is still slow. The homes that are selling are priced right. But still many more days on the market than last year. The best way to beat the market and not be behind the market is to have the right agent with market experience to sell your home. Marketing and staging of a home will get your home sold.
FREE-HomeStaging.com is a good place to start. On the buying side. Looking to buy is the best time. Many to pick from and the interest rates are still low. Selling, buying call Paul Conti. 408-691-7700
28 years of experience will get you more money.