Archive for the ‘Real Estate Sales’ Category
What Luxury Agents Do for That Sale
Posted by Sibet B Freides in Demographics, Real Estate Economics, Real Estate Sales, Real Estate Trends on November 8th, 2011
According to the LA Times, real estate agents listing an $8-million home in Santa Monica wanted to ensure a good crowd for an open house last month, so they hired a stilt walker, shirtless male jugglers and a contortionist who floated in the pool, encased in a clear plastic bubble.
Nearby, an agent stationed models in front of a new condominium project. Wearing velour robes and flip-flops, the young men and women served free drinks to promote the cocktail hour lifestyle at the development.
Still another went all the way to Spain to drum up business.
When marketing a multimillion-dollar mansion, a plate of cookies and free coffee simply won’t do in today’s new market. Agents have been outdoing themselves to help get through this market.
Aerial Showgirls, Thai foot massages, and Botox treatments… is all this really necessary? Although agents are putting up thousands of dollars for these remarkable parties, they are definitely seeing up to three times the traffic than they would with a simple display ad or a listing on MLS and some generic signage.
Agents are treating buyers seeking homes in the $2-million and more range like royalty, including facilitating their home tour starting with a red carpet.
Sometimes, it can be as simple as putting a new spin on an old standby, such as staging.
A recent agent recruited a well-known interior designer to outfit the home with vintage and contemporary furniture and art, which was then offered for sale at the open house.
He told the LA times that the cost was less than hiring a traditional staging company, the event drew about 200 people and the property received multiple offers, selling at nearly full price within a week of coming on the market.
To get foot traffic, a condo agent put a new “spin” on a sign-spinner by hiring models to hand out fruit drinks on the sidewalk… and beer, wine and mimosas to adults that came in to see the model units. The agent spent about $5,000 but sold four units on the weekend following Thanksgiving.
What’s the bottom line? You may be afraid to spend the money and think outside the box, but this is the time to go above and beyond and really draw attention to your properties. While we don’t think you should pull out all the stops and hire a circus, there are some worthwhile ideas in the shock and awe mindset that might just get you results.
An Overlooked Priority for Homebuyers
Posted by Sibet B Freides in Real Estate Sales, Real Estate Trends on August 3rd, 2011
There seems to be something happening this year important enough to make it a 2011 trend. More than ever, buyers are asking about crime rates, security, and assurance of a safe investment.
Cash buyers want to know they are investing in something safe, which is one reason they are taking money out of the stock market and banks. Long-term buyers are considering a multi-generational future. When your focus is on children and grandchildren, security becomes critical.
It doesn’t stop with traditional homebuyers: condo seekers are looking for on-site security service, a 24/7 front desk, and well-positioned security cameras.
Why the surge in interest?
Although rates have dropped in the last two decades, according to US News, an index score of 100 is equal to the national crime rate, meaning that many major US cities average an index of 350, meaning they have a crime rate more than three times the national average. Where does Atlanta sit on the chart of Top 11 Most Dangerous Cities? Number 2; shamefully holding an index of 484.
How important is safety and security to you in your home buying decision?
Surprising Condo Market Recovery – Can You Guess Where?
Posted by Sibet B Freides in Real Estate Economics, Real Estate Sales, Real Estate Trends on April 28th, 2011
The hardest hit real estate market in the U.S. is making a resounding recovery! The Miami Association of Realtors report that existing condo sales topped 1,500 units in the month of March. That’s an 85% surge in the market!
It’s surmised that lower priced units and record low mortgage rates are responsible; however, these low prices actually attracted a large percentage of cash buyers. In fact, more than 64% of buyers paid cash.
What is not surprising is that buyers came from around the world to get their hands on American condos at the lowest prices in more than 15 years: more than 90% of new construction condos were purchased by non-U.S. buyers.
What do you think this means for the overall market recovery? Is this a step in the right direction, or is that fact that 60% of all closed residential sales in Miami-Dade County were distressed giving us false hope? Do you think this is unique to the Miami market, or a starting trend for Condos?
Is a Vacation Home Out of Your League? Not Necessarily…
Posted by Sibet B Freides in Real Estate Economics, Real Estate Sales, Real Estate Trends on April 26th, 2011
Have you been dreaming of a vacation home? Are you resigned to the idea that the current market is making your dream impossible? Think again!
Second homes/vacation/pre-retirement homes are priced right. If you were even remotely thinking of buying, there will probably never be a better time. Prices are reduced, and many distressed deals are being purchased at .30 cents on the dollar.
Conversely, beware when purchasing distressed properties because you won’t know the future of the project. Is there an active HOA to manage finances and other issues? What happens if an investor buys the project? How would the future inventory be priced? Unfortunately, along with affordable pricing comes a lot of unknowns.
At Idea Associates, most second home purchases we are seeing for our clients are cash deals. Anywhere from downsizing to Intown Condos to planned retirement housing in second home neighborhoods – many are bought with cash. The price is lower so buyers can afford to pay with cash, especially since most can’t get financing anyway with banks’ new stringent policies.
With the future so unsure, most buyers don’t’ believe they are making money in investments for these second homes, so they are choosing to buy something they want for the future instead.
Have you personally considered taking advantage of the prices and buying a second home? If you’re a builder, developer or agent – what are the trends you are seeing?
Shift in Buyer Wants and Needs
Posted by Sibet B Freides in Demographics, Real Estate Sales, Real Estate Trends on March 29th, 2011
Aging boomers are reluctant to sell their homes for two reasons. One, they may be in trouble with their mortgages and are waiting for the market to rebound and two, they are healthier than their parents’ generation and will likely delay the move to retirement community living.
Will a market exist for their homes when they are ready to sell? Only time will tell. However, the income constraints and lifestyle demands of a shifting population may dictate a very different future for real estate.
These changing needs along with the demands of the expanding Echo Boomer generation is forcing the real estate market to respond in new and different ways.
According to a 2009 study by RCLCO, both retiring baby boomers and maturing echo boomers are looking to move away from the suburbs they’ve spent their lives in. Both groups reported wanting to live in more urban, mixed use, mixed age areas that offer services, community and walk-ability.
How does this changing market most affect your business? Share your successes and struggles with us here on the blog, or on Facebook or Twitter.
Did The Google Algorithm Change Effect You?
Posted by Sibet B Freides in General, Marketing, Real Estate Sales on March 2nd, 2011
Google recently announced one of the biggest changes to its search algorithm to date.
The soul purpose according to Google is to improve the quality of search results with the most relevant sites. People are immediately worried about what will happen to their rankings and keywords. To the relief of most, a lot of sites won’t see any kind of change.
The new algorithm takes aim at the content farms that have longed plagued the Internet. These are sites that usually contain a ton of links with information that is not original to that particular site. We have been hearing about the importance of quality and original content and this recent change reinforces that. Google will now give more credit to sites that appear to have the highest quality content and is the original source. This change also makes quality link building more important as well. It is also advised to add a little diversity to your website such as videos, photos, or audio.
Don’t forget about writing. Having a website with poor copy is an almost guaranteed way to rank lower in search engines. Not only will Google deem your content low quality, but also bad copy will not encourage link building from other sites and social network shares.
So what does this mean? Don’t panic if you’re a real estate blogger or your company has a blog. Just make sure you are producing something worth reading and it’s original.


