Real Estate Housing Trends, News and Information
Someone’s noticed U.S. real estate is a great buy – investors! And many of them are coming from outside the U.S. to purchase our homes and condos. In fact, Inman News has posted back-to-back articles about international buyers.
Article #1 on March 28 noted a new Inman report, “10 Hot Spots for Global Homebuyers,” and cited Canadian buyers as one of the top 3 countries of origin for foreign buyers. Erica Muller, recently profiled as a FrogPond.com Rainmaker/Agent, said nearly all of her buyers are from Canada, Great Britain, Brazil and Australia.
Article #2 by Inman cited a report from real estate search company Trulia, listing the 15 nations sourcing most of its international searches, with Canada again topping the list.
So we’ve established there is business for real estate professionals who want to work with investors, especially those from outside the U.S. But how do you tap that business?
We’ve profiled Greg, talking about his monthly Fox Business segments where he shares news about where the great real estate investment opportunities are. Greg is the real deal, and we are fortunate to be able to share his expertise to get new business. On April 4, Greg will teach you how to “Dominate the Residential Investor Market” with cutting-edge tools-of-the-trade
Do you already have too much business? If your answer is “no,” then you must say “yes” to this engaging and informative Webinar. Take one hour and learn how to tap this market, already credited for 23% of all U.S. home sales.
The Webinar registration link is
See you next Wednesday!
In today’s New York Times article, “Big U.S. banks to relieve borrowers“, David Streitfeld reports on the new mortgage relief effort being waged to help homeowners at “possible” risk of foreclosure due to a specific type of risky Option ARM loans originated in 2008 and 2009. The article goes on to say that having an option ARM loan seems to qualify the borrower for special help.
Chase and BofA inherited huge portfolios of these loans from Washington Mutual and Countrywide Financial. The article explains how restructuring these loan balances by 50% by forgiving debt will allow hundreds of thousands to stay in their homes. Thank you Chase and BoA!
What the article doesn’t point out is the NEW opportunity for the REALTOR®. With 50% debt forgiveness, sellers are now able to list their properties at appraised values presenting the REALTOR® with a viable new market. The article says that economist, Sam Khater agrees that “Reducing negative equity would spark a housing recovery”.
As demonstrated in the article, a Miami condo owner, Ms. Giosmas, had an Option ARM loan balance of $300,000. She was able to make her payments, didn’t see herself as “at risk” and was surprised to receive a letter in the mail announcing her good fortune. After reducing her loan balance to $150,000, she was able to sell her condo for $170,000. Not only could she sell her condo, but Ms. Giosmas made a small profit. Let me repeat…PROFIT!!!
If I was a broker or REALTOR®, I’d be checking into these Option ARM loans. I’d speak with Chase and BofA. I’d speak with appraisers. I’d advertise in my local community. I’d host seminars on Option ARM loans. I’d discover an untapped source of salable listings. I’d be at the top of my game!Read Full Post | Make a Comment ( None so far )
When you’re view is from 30,000 feet high or 30,000 feet down the way, you might be missing the point. The point is Micro Local Marketing. It’s what the consumer wants. It’s why the consumer removed the gatekeeper; why the consumer is so accessible.
Micro Local Marketing is “What’s in it for me” on steroids. Consumers are smarter than ever, but want someone who can interpret what the data means to them. Micro Local information is the what and why in the consumers community, neighborhood, and street.
Give them the housing numbers, the information on new shopping centers, little community theater auditions, where commencement’s being held, what new road is being expanded, new corporation headquartering in their community, remind them of flood insurance and routes out of town for immediate evacuation, and all things relevant…give them the knowledge to select you as their trusted adviser, housing consultant, REALTOR.
Gettin’ Off the Highway and Into Their Driveway(tm)” engages the consumer, builds relationships and results in happiness.Read Full Post | Make a Comment ( None so far )
Dan McDade in an article in SMS says that “70 percent or more of leads aren’t being followed up by sales”. He doesn’t fault marketing or sales executives, but he continues to say, “ The responsibility rests with C-level executives and other senior managers who fail to understand or act upon the real problem.”
Being both Sales and Marketing in my company, FrogPond, as well as C-level executives, as independent contractors tend to be, I thought you would enjoy this article.
Source: SMM, Sales and Marketing Management
I read an article by Greg Robb, MarketWatch, May 31, 2011,”U.S. Homes Prices in Double Dip Recession…Case-Shiller”.
Robb stated, “The prices of single-family homes in 20 major cities fell for the eighth straight month and confirmed that there is a double-dip in the housing market, according to the S&P/Case-Shiller home price index released Tuesday by Standard & Poor’s.
Home prices fell a non-seasonally adjusted 0.8% in March. Prices have moved down 3.6% in the past year. Home prices declined in 18 of the 20 metropolitan areas tracked by Case-Shiller in March compared with February. Washington D.C. and Seattle were the only markets where home prices increased in March.”
As I read I began to think about all the home buyers and sellers reading this report, I wondered how the continuation of negative news affects them. I thought about if they worried whether their homes would continue to lose value, or are they so despondent that they no longer believe their homes will ever sell? I could almost feel the acid building in their bellies with worry.
I asksed myself, “What would I do if I was still selling homes?” I’d blog, email the Housing Trends eNewsletter with a” buy now” personal message, post my opinions on all my social media sites, and call everyone I know to say that “it’s time to buy a home, time to stretch your dollars to spend less and buy more. Times are good for those with credit.”
Successful REALTORS are savvy enough to inform the consumer what their reading in the news has positive benefits for them. Reliable information is an opportunity to examine, study and explain the market trends to consumers.
Here’s what I’d do:
Interest rates are still very low, but all indications point to an increase. With good credit the consumer is in prime position to purchase more home in move up neighborhoods with better schools by buying now.
Use this example of the increase in interest rates. According to an example in Houston Chronicle by Freddie Mac Primary Mortgage Market survey (05/31/2011)
Loan Amount: $200,000
Interest Rate Principal & Interest Monthly Payment
“If you are the Seller, you will be able to take advantage on the Buying side if you act while interest rates are down. Low interest rates mean more available buyers in the market to buy your home. Plus, every day you linger in your home debating your selling decision, your asset, your home, loses value, but costs you the same amount to maintain it each month.”
According to Clifford Crabtree, CEO, First Continental Mortgage, “Mortgage rates aren’t expected to spike tomorrow. But as the economy improves and if inflation begins to affect more segments of the economy, rates should start to tick up.”
Agents, you should also learn about your state and local down payment assistance to assist your buyers and sellers. Watch for more information on Down Payment Assistance Programs.Read Full Post | Make a Comment ( 2 so far )
Sometimes the hardest thing about working at home is getting uninterrupted time in
which to take care of business. Here are some five tips for setting up some boundaries to increase your productivity.
Make your office your office only. Don’t take your work into your home or bring your home into your office. Set yourself up for a block of time by preparing your coffee, water and snacks prior to going to the office. Remember to recycle coffee cup or water glass.
Schedule your office hours and stick to them. Publishing them on your website and advertisements keeps you on track. Make sure your friends and family know these hours and encourage them to support your success by honoring them. A “Do Not Disturb” sign for your office doorknob can be helpful as well. Designation specific work times eliminates leaving your office equipment plugged in and waiting energy.
Do not allow yourself to be interrupted by a doorbell. Pretend that you are not at home when a solicitor rings the bell and do not even check to see who it is unless you are expecting someone. Conserving your energy is important to your concentration.
Make a communication space at your front door so people can leave messages. A small box with a notepad and pen can work just fine. Use recycled paper.
Resist the temptation to take calls when the phone rings. Screen your calls on both your land line and cell phone if you use either for both personal and business purposes. Remember to unplug your cell phone charger when not in use.
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