Stop the bleeding....

Experts agree; this market is the perfect time for buyers to get a home they couldn't normally afford for many reasons. Mortgage rates are still historically low, with the Fed expected to lower the rate yet again by December 18. The median price of homes has decreased making larger homes with more amenities affordable.

And yet, things are still moving slowly. Who do we blame?

Well, point two fingers. One at the sellers and one at the Realtors.

I've said time and time again that this is NOT the market to make a killing or huge profit on the sale of your property. Sellers should expect that if they need to sell now, the home should be priced according to comparable sales within the past 6 months. You may not walk away from the closing table with much more than you owe the mortgage company, but if you need to sell, you'll be pleased not to BRING money to the closing table.

Realtors should also approach each listing as an opportunity to help the seller; not help their own bank account. Price the home sensibly. Don't price a home with the intention of submitting several price reductions in the near future.

Buyers are seeing all the "Price Reduction" signs and falling list prices and they are holding on to see where the bottom is. As long as prices continue to decrease, the buyer believes they are going to go even lower - and so they wait for the best possible deal.

To Sellers and Realtors: Be FIRM on your price. Buyer incentives still work in this market but you have to get creative. Instead of a $3000 credit toward closing costs, how about advertising two round-trip tickets to Paris? Sounds better, doesn't it?

Sensibility is the key to selling a home in this market. I'm optimistic.