Archive for April, 2010
How Boomers Are Reinventing Retirement
Posted by Sibet B Freides in Demographics, Marketing, Real Estate Trends on April 13th, 2010
The way we view retirement today is a lot different than what it used to be.
It’s not just about luxury or relaxation, but it’s more of a question mark for the baby boomers. Do I have enough saved to retire comfortably? Do I need to look for another job? Will my social security benefits hold up?
These are the tough questions that retiring boomers are facing.
These harsh realities are no doubt changing the way builders and developers view the 55+ market. I think it’s fair to say that the boomers are in fact reinventing retirement.
A recent USnews.com article gives us 10 ways that boomers are changing retirement. It is an interesting article and a must read for those involved in the market. Most of their points will have a direct effect on how we should build and market our products. Here are just a few of them.
Living Longer
The length of retirement will last much longer than it has in the past. It is becoming commonplace for baby boomers to live into their 80’s and remain active. I think this will have a drastic impact on what amenities will be provided to boomers.
Part-Time Jobs
Unfortunately, retirement is going to require more work than it has in the past. The big question for most retiring boomers is if their savings will hold up. If their financial plans seem grim, they are going to have to jump back into the work force. This is going to affect the way we build and market homes. A lot of these retirees will be working out of the home, which means floor plans need to incorporate work stations or office space and the technology needs to be up to date so residents don’t have to upgrade anything.
I suggest reading USnews.com article. The baby boomer generation is massive and their retirement is going to affect a lot of markets. It’s obvious their retirement years are going to be something new.
The Search For ROI In Social Media
Posted by Sibet B Freides in Marketing, Social Media on April 12th, 2010
Marketers are continuing to tackle the tough question of Social Media ROI.
A recent E-Marketer blog gives some good incite to what marketers are thinking in regards to measuring the success of their social media efforts. As you can probably guess, most are unhappy with the current measuring tool. The problem is that there aren’t sophisticated metrics that can be applied across the board when it comes to social media.
It’s important to remember that different marketing strategies will call for different results when measuring the success of social media. Results will be quantified based on goals. If your goal is drive more traffic to your site, then that is an easily quantified metric, but I would suspect that most businesses want something more than that and I would agree. We can look at web analytics all day long, but can that accurately measure our social impact?
According to the E-marketer blog, most marketers are focusing on website conversions and clicks. I wonder if this is simply due to past reporting habits.
I think that we will eventually strike a balance for measuring the ROI of social media. When marketers find a way to relate social metrics and measurement with sales and leads, we will start to see efficient ways to measure investment return.
For example, social media outlets should absolutely be included in property traffic reports in relation to potential leads. I think this is how real estate based companies can effectively gauge the metrics. At the end of the month, your traffic reports should be able to give you some solid numbers in relation to web analytics and social media activity. This involves a lot of cross-examination between reports, which a lot of companies aren’t going to do. I am pretty confident that this industry will find a way to syndicate this process. It’s too important to businesses for it not to.
How Important Is Your Web Design?
Posted by Sibet B Freides in Marketing, Real Estate Sales on April 8th, 2010
When we start the planning process of a website, we are often excited about the possibilities at hand. With new coding techniques and interactive ways to build sites, marketers have a wide variety of tools at their disposal when it comes to web design but does this mean that we should utilize the latest bells and whistles? It really depends on your marketing goal.
For the last few years, Flash sites have been considered the upscale, high-end web design attribute. It wasn’t until recently that designers and marketers have figured out that these fancy websites might be preventing companies from achieving their goals.
A website should be designed with your target audience in mind. This seems elementary but you would be surprised how often this idea gets lost in the design process. I consider a website an extension of your overall marketing goal. It’s a tool just like anything else and it’s your most important one.
For example, we installed banners on a condo building with their web address but because the client wanted a Flash site, the consumer is unable to look at the website on their phone.
We need to adhere to the idea of “form follows function”. Our web design should be planned with the marketing functions in mind. In relation to your website, if your marketing plan doesn’t require a long, drawn out Flash intro, don’t include it. You are only wasting your consumer’s time. If the video is informative and useful, by all means include it. Just be sure not to add design elements that don’t educate and empower your consumer.
Websites have a very small time window when it comes to convincing consumers. If all of your design jazz is creating clutter, you might want to consider re-designing your site. We have all seen these kinds of sites. The ones that make you jump through hoops or watch a three-minute video before you find what you’re looking for. This can frustrate consumers and they are likely to leave your site immediately.
Outdoor Living Upgrades Are On The Rise
Posted by Sibet B Freides in Green, Real Estate Trends on April 7th, 2010
According to a MarketWatch.com article, 94% of polled landscape architects think that outdoor living spaces will become extremely popular in 2010. This will include cooking areas and other means of entertainment including outdoor seating areas. While these upgrades will be in high demand, most architects think that homeowners looking to make upgrades will stick to the basics.
These outdoor living upgrades will be less lavish than we have seen in the past. According to the article, fancy kitchen appliances including refrigerators stereo systems, heaters, and sinks are expected to be among the less popular in outdoor upgrades. Architects are attributing this to a weak economy and a trend back to basics.
Another interesting trend right now in outdoor living is the surging popularity of organic gardening. This plays into the sustainability trend. Residents are growing their own produce as a means for better food and an understanding of where it’s coming from. Many believe that there is also an economic driver to this trend and I would agree.
Well-maintained and attractive outdoor living spaces can also be a major selling point in some markets. The article notes that many homeowners are making these improvements because moving to a new home right now is not easy. By making these improvements, homeowners are adding perceived value to their homes due in large part to the growing sustainable trend.
This is a good lesson for homebuilders. Outdoor living spaces continue to be popular and that includes gardens. Another emerging trend right now is shared gardens. These are community garden in the middle of apartments or condos where residents are given a small plot that can be used for a personal garden. This is proving to be very popular in the 55+ markets. These gardens don’t have to be in urban settings, they can be in master planned communities as well. This is an interesting trend that I would keep my eye on.
What Does It Take For A City To Be Green?
Posted by Sibet B Freides in Green, Real Estate Trends on April 6th, 2010
So what does it take for a city to be green? Apparently a lot according to a recent Move.com article.
The article lists the top 10 greenest cities in America, which are in no particular order. If your city doesn’t show up, don’t be surprised. After reading the article, you might have a better understanding of what it takes to be considered a truly green city.
Some of the most common characteristics of a green city are certainly the most important. Nearing the top of every listed city is its attention to the importance of public transportation. This is considered by most to be the most important aspects of a city in regard to not only green practices, but also quality resident life.
Many argue that Atlanta’s lack of an efficient public transportation system is hurting our future. Regardless if you believe this or not, I think every city could benefit from public transportation. In fact, easy access to public transportation is a very desirable buying point for urban homebuyers. It is obvious that this is something that city residents want and are willing to pay for. All of this coupled with the sustainable aspect of public transportation makes it a high priority for cities.
Among other aspects, the article hits on the importance of farmer’s markets and gardening facilities. These are two emerging trends in the housing market right now. Consumers desire a designated garden space in houses, condos, and apartments.
I find it interesting that so many of the attributes listed in this article line up with current housing trends. I think this all goes back to the emerging sustainability trend. Consumers are starting to understand not only the benefits, but also the importance of green construction and amenities. It will be interesting to see how the housing markets of these top-ten sustainable cities recover in the coming months. Do you think they will do better because of their sustainability efforts?
