Archive for the ‘Real Estate Trends’ Category
iPhone Apps that Help Real Estate Agents
Posted by Sibet B Freides in Real Estate Trends, Social Media on January 24th, 2012
Being a real estate agent can sometimes get hectic – you may feel disorganized. Have you also ever felt you didn’t have enough information handy to help your clients make the best decision possible? Here are some new and convenient ways to remedy your situation with apps and place you above your competitors:
Sketches
Sometimes pictures don’t support the message you’re trying to convey with your clients. With Sketches, you can take a photo and then draw on it. For example, you might use arrows to point out certain features or write down the distance between two properties.
Around Me
Being able to give your clients instant information is essential. With this app you can quickly tell clients about the restaurants, banks, grocery stores and other shops in the area, making it much easier for a client to make a decision.
Walk Score
People in busy cities want to be able to walk to everything. This app will give you the ability to tell customers exactly how far the nearest restaurants, grocery stores, shopping and more are from their new home. It even has a built-in GPS so users will never have to type in an address to get results.
Real Estate by Smarter Agent
One of the biggest factors for an agent is knowing what comparables are selling for or what sellers are currently asking. Being able to access this information immediately is necessary in today’s instant gratification society. You’ll never believe how fast the contract can be drawn up once you download this app.
What apps help you in your real estate career?
Children Being Evicted?
Posted by Sibet B Freides in Real Estate Economics, Real Estate Trends on January 19th, 2012
As the economic downturn bears down on families, an increasing number of grandparents are stepping in to raise their grandchildren, and it’s presenting complicated issues when it comes to age restricted communities.
It’s Not a Minor Issue
The problem seems to be growing.
In one senior community in Florida, 10 cases have been discovered in the past six months where children were living with relatives. These families are faced with a choice of evicting the child or selling their home within a set amount of time.
It’s not surprising that there are more multigenerational households with the current economy, but bending the rules for even one child could get an age restricted community in serious trouble.
Up to 20 percent of residents in age restricted communities can be under the set residency age, but this exception is for adult children who inherit property. The rule is never used to accommodate minors. If a community is found to exceed the 20 percent limit, it could lose its exemption status.
There’s also the matter that senior communities aren’t equipped for children; there are plenty of safety hazards that would have to be addressed, such as golf cart transportation and swimming pool specifications and insurance.
Do you think there should be a policy created that both maintains age-restricted enforcement and considers extreme family hardship? Or should families in these situations have to choose between their homes and their children?
Let us know your thoughts by commenting below or on our Facebook page.
Five Key Issues for 2012 Housing
Posted by Sibet B Freides in Real Estate Economics, Real Estate Trends on January 18th, 2012
While many housing markets rose together during the boom and fell together during the bust, they’re coming out of the downturn at very different speeds, and so it’s no longer a matter of a “national” housing market. We’ve seen recovery happening on a local market level, and at very diverse rates.
With that in mind, here are the five key issues as published by the Wall Street Journal that will determine the housing market in 2012:
1. Confidence and jobs: The housing market still needs the economy to add more jobs to stimulate demand for home purchases and to prevent mortgage delinquencies from rising. The good news is that housing is more affordable than it has been in decades. But many that are considering buying are not striking because they are concerned that the prices will continue to drop. Others don’t want to buy a house until they have more evidence that they’re not going to get laid off or see their hours cut back.
2. Foreclosures: Whether home prices hit a floor this year also relies on how banks manage a huge overhang of foreclosed homes that they haven’t yet taken back and resold. Banks and other mortgage investors own around 440,000 foreclosed properties, but there’s another 3.4 million loans in foreclosure or serious delinquency.
3. Rents: Apartment rents are rising as vacancy rates drop. If low mortgage rates aren’t enough to give urgency to buyers, rent hikes could accelerate their decisions to take the plunge. This is a good thing.
4. Mortgage credit and rates: Federal policymakers have taken extraordinary steps to keep mortgage rates low and federal-backed entities are responsible for backing nearly nine in 10 new mortgages. But it’s still hard for many buyers to get a loan because banks are demanding lots of documentation of borrowers’ incomes, and appraisals are tanking some deals. Banks will need to put their loan problems behind them before there’s much easing in lending standards.
5. Regulation: Many analysts don’t expect Congress to make major changes to Fannie Mae and Freddie Mac during the election year, but several major regulatory changes could significantly reshape the future of the lending landscape in 2012.
Meanwhile, the regulator that oversees Fannie and Freddie is revamping the way that mortgage companies are paid for collecting loan payments.
What other key things do you think will affect the market this year?
What’s Effective in 2012 for Real Estate Marketing?
Posted by Sibet B Freides in Marketing, Real Estate Trends on January 10th, 2012
So, it’s 2012 and there are a multitude of options for marketing real estate. What should you spend your advertising dollars on? What funds allocated in your budget will offer the biggest reach, influence and return in the new media world?
ActiveRain, the largest blogging platform and professional social network in real estate, conducted a survey of 1,910 real estate professionals asking the simple question of “what is the most effective real estate marketing or advertising that you do?”
Here are some highlights from the survey results and how you can make it work for your community:
- Referrals and word of mouth were the most preferred, making up an overwhelming 26% of the responses.
- Second place was tied with 13% of responses: Blogging and traditional Direct Mail. This includes postcards, mailers, and printed newsletters.
- Next 12% of responders listed Internet Marketing as a general category. It can be assumed that this category is comprised mostly of pay-per-click ads, such as Google AdWords.
- Finally, networking received 8% of the responses. This includes partner referrals and face-to-face meetings.
Most Effective Real Estate Marketing Plans
Even in this digital age, real estate professionals continue to favor more traditional offline, hand-to-hand marketing techniques: referrals, direct mail, networking, and open houses. Blogging is viewed as an effective medium as well, but it must provide value in order to stay in that 13%.
Most Effective Real Estate Websites
Real Estate professionals polled consistently listed ActiveRain, Craigslist, Facebook, Zillow and Google as the most effective sites for their business. There were very few mentions of WordPress, though as an agency we find it to be at the top of the list for delivering valuable information and gaining a targeted audience. Noticeably absent were Trulia and Realtor.com.
What do you think? Do you agree with the poll? Is there something that works for you that the survey left off?
If you need help with your 2012 marketing plan, let us create a balanced, effective mix of traditional and new media customized for your community’s needs.
Will the Real 2012 Housing Market Prediction Please Stand Up…
Posted by Sibet B Freides in Real Estate Economics, Real Estate Trends on January 3rd, 2012
When you search for housing market predictions 2012 on Google, it returns roughly 1,650,000 results. As you start scrolling through these well-respected sites and their corresponding articles, you are left scratching your head and wondering what to believe. From gloom and doom naysayers to cheery hopefuls saying the worst is behind us, experts are heard quoting a spectrum of possible outcomes.
CBS News strongly feels that the nation’s real estate balance sheet is slowly turning around.
To further quote the positive article, the official unemployment rate dropped to 8.6 percent, even as the labor participation rate dropped to about 62 percent. But the better news is that the U-6, which is the broadest measure of unemployment, fell below 16 percent for the first time since the Great Recession started.
Of course turning around the housing market begins with well-paying jobs so that people can once again afford a mortgage and insurance premiums.
Fannie Mae chief economist feels that people will not undertake the financial obligation of homeownership until they are positive their personal financial situations are on the upswing. But according to their November National Housing Survey homeowners do believe their home value will rise at least 0.2 percent over the next year.
Another positive sign is that interest rates continue to hover at a historic low level, saving homeowners who can refinance hundreds or thousands of dollars per year.
New construction still leads the industry in the slow bounce back. There are even some markets where existing home sales are picking up as well, which benefits agents, appraisers, attorneys, and mortgage lenders.
CBS News also notes that the biggest indication that the housing market might begin to normalize is that the number of homeowners who are seriously delinquent in their loan payments is shrinking.
Does this mean the market will magically shift to normal in 2012? No, but hope remains that it will be a better year overall for real estate.
What do you think? Which news source resonates best with your own personal and professional outlook of 2012?
Luxuries Are the New Must Haves
Posted by Sibet B Freides in Real Estate Trends on December 8th, 2011
For most people, building a new home starts with a list of “must haves” and a list of luxuries that it would be nice to have.
Some new home amenities have transitioned over the years from being considered luxuries to being standard additions to today’s custom home designs. One of those amenities is a home elevator. Once thought to be an item exclusively talked about by Robin Leach, home elevators are actually becoming increasingly common for both contemporary and traditional homes.
Because of multiple levels, a home elevator would obviously allow everyone in the family access to the entire house, even after their mobility may be compromised.
What about the cost of a home elevator? When you consider that a home elevator becomes one of the most-often used elements of a new home, the investment is wise, as it will also increase the resale value of your home up to 10%. A home elevator can also help to avoid injury or damage when transporting objects from one floor to the next.
Another concern may be the space it takes to incorporate a lift or elevator into either an existing home or new home plans. Some companies have released a new option: customizable cab sizes and the ability to remotely locate its control box, eliminating the need for a machine room.
What do you think about home elevators becoming the new standard? Would it be worth the investment in your new home?
The Latest Club Trend
Posted by Sibet B Freides in Real Estate Trends on December 1st, 2011
At Idea Associates, we have marketed golf clubs, equestrian clubs, lifestyle clubs, marina/boating club communities and many types in between. But now there is a new club taking shape that plays right into the health and wellness trends: The Outdoor Sporting Club.
They are popping up in the west for everyone from the “real” outdoorsman to those seeking fresh air and magnificent skies. One current example we are marketing is The Montana Sporting Club. The activities here are impressive including snowmobiling, cattle drives, hunting big game, fly-fishing, and endless miles of ATV trails. Or for those not so adventurous, there is a personal chef who will prepare your favorite wild game or practice your photography skills on one in a million views.
Some clubs offer “glamping” which is an upscale form of camping out but with luxury tents and bedding. Spa services can be found at most of the clubs.
How are these different from the clubs of the past? I believe it reflects a changing demographic and psychographic. Rather than spend 7 hours with your buddies playing golf, now many dads are choosing 8 hours of hunting with their kids and maybe extended family or friends. The club format today is much more inclusive while still being exclusive.
What trends are you seeing in club memberships?
Top 3 Digital Trends
Posted by Sibet B Freides in Marketing, Real Estate Trends, Social Media on November 9th, 2011
Online marketing and the digital world are ever changing. Here are three of the top trends happening today… subject to change, of course!
Mobile and desktop are becoming one. The dividing line between mobile devices (remember, iPads / tablets are actually mobile devices) and personal computers is becoming not only blurred but practically non-existent. Apple has even incorporated features from its smartphones into its desktop operating system. It is predicted that Apple’s two systems—OSX and iOS—will merge completely.
Click through—going away? Advertisers have been predicting the demise of the click-through rate for years, as it really is a highly inefficient way to measure an ad’s success, especially brand advertising. There are actually campaigns out now that measure time spent mousing over an ad rather than clicking.
The value of expert content. We all have a story and a message that can inspire others and solve their business problems. Today’s digital paradigm begs you to use your message to make a difference by sharing lessons and advice with others. The lessons you’ve learned in life and business are your greatest asset.
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.
NAHB Releases Improving Housing Markets List – Nearly Doubles in October
Posted by Sibet B Freides in Real Estate Economics, Real Estate Trends on October 27th, 2011
The second edition of the National Association of Home Builders/ First American Improving 
Markets Index (IMI), has been released, showing 23 individual housing markets now qualify as “improving” under the new gauge’s parameters. According the NAHB, this is nearly double the 12 housing markets that made the list last month.
The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data, which are then analyzed to generate a list of improving markets.
The index released earlier this month reveals metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices.
Pittsburgh and New Orleans remain the two largest improving markets; however smaller cities in which energy and agriculture are the primary economic drivers indicate that the effects of the recession have been less pronounced, according to NAHB Chief Economist David Crowe. He states that Texas stands out in particular, as it made seven of the 23 entries on the list.
The complete list of improving markets can be viewed here.
What are your thoughts? Do you think this is a sign that the housing recovery is well on its way?
