Wednesday, November 24, 2010
Tuesday, November 23, 2010
Wednesday, November 17, 2010
How to Subscribe to an RSS Feed for this blog...
Click here:
http://www.extremerealestatecoach.com/feeds/posts/default?alt=rss
http://www.extremerealestatecoach.com/feeds/posts/default?alt=rss
Tuesday, November 16, 2010
Myths: The Earth Is Flat and Newspapers Sell Houses
Myths: The Earth Is Flat and Newspapers Sell Houses
by The KCM Crew on November 16, 2010
It is amazing how masses of ppeople can believe something that is absolutely untrue. The greatest example of this is that at one time the vast majority of people believed the world to be flat. Today, we want to debunk another commonly held belief – that newspapers sell houses. Somehow this notion gained believability even though the facts consistently prove it to not be true.
We should know what methods perspective purchasers use to find the home of their dreams when we are selling our house. That would enable us to develop the best marketing strategy to attract a buyer. The National Association of Realtors (NAR) has just released the 2010 Profile of Home Buyers and Sellers*. This report is recognized by most as the best compilation of data on today’s buyers and sellers because of the enormous amount of data available at NAR’s fingertips.
Let’s look at the actual search habits of today’s buyers as reported by NAR:
It might interest everyone to know that less than 2% looked in newspapers, magazines or home buying guides when starting the search process. What do most buyers do?
by The KCM Crew on November 16, 2010
It is amazing how masses of ppeople can believe something that is absolutely untrue. The greatest example of this is that at one time the vast majority of people believed the world to be flat. Today, we want to debunk another commonly held belief – that newspapers sell houses. Somehow this notion gained believability even though the facts consistently prove it to not be true.
We should know what methods perspective purchasers use to find the home of their dreams when we are selling our house. That would enable us to develop the best marketing strategy to attract a buyer. The National Association of Realtors (NAR) has just released the 2010 Profile of Home Buyers and Sellers*. This report is recognized by most as the best compilation of data on today’s buyers and sellers because of the enormous amount of data available at NAR’s fingertips.
Let’s look at the actual search habits of today’s buyers as reported by NAR:
It might interest everyone to know that less than 2% looked in newspapers, magazines or home buying guides when starting the search process. What do most buyers do?
We can see that buyers today want to explore their options online (combined 47%) or check with industry professionals (combined 27%). You might be ready to argue that the use of the internet is a new phenomenon over the past year or so. However, the report looks back over the last nine years. Though it is true that the percentage of those using the internet has dramatically increased (from 8% to 37%), it might interest you to find out that even back in 2001 only 9% of buyers found their home through print media (again, that number is now 2%).
If you want to develop a great marketing strategy to give your house maximum exposure, forget newspapers and look toward the internet. Where on the internet? The NAR report breaks down the most searched web sites this way:
The buyer is attracted to the type of sites that have the greatest number of listings. These sites are normally generated by the real estate industry. You should make sure your home is on as many of these sites as possible. That will give you the best chance of attracting your buyer.
Bottom Line
Print media never was a great way to market a house for sale and its effectiveness is diminishing each year. Meet with a local real estate professional and put together an internet marketing strategy worthy of your home.
From: http://kcmblog.com/2010/11/16/myths-the-eart-is-flat-and-newpapers-dont-sell-houses/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+KeepingCurrentMatters+%28KCM+Blog%29
Analysts See 7% Drop in Home Prices over Next Year
Analysts See 7% Drop in Home Prices over Next Year
11/15/2010 By: Carrie Bay
Despite a bounce in home prices during the first half of 2010, Fiserv Inc. says it expects property values nationally to fall another 7.1 percent over the next 12 months before beginning to stabilize. The Wisconsin-based financial services technology company sees double-dip territory ahead for many major markets, particularly those that saw the strongest appreciation during the spring and summer months of this year.
Prices of single-family homes rose an average of 3.6 percent during the second quarter of 2010 compared to a year earlier, according to the Fiserv Case-Shiller Indexes. As of the end of June, the median U.S. home price was $177,000, as tracked by Fiserv.
Fiserv says the annual increase in the national reading was driven by strong price increases in relatively high-priced markets, such as San Diego, Washington, D.C., and the San Francisco Bay area.
But despite the gain in the national average, prices actually fell in 70 percent of the 384 metro areas, compared to the 2009 second quarter. Many markets experienced double-digit drops, including Detroit; Boise, Idaho; Reno, Nevada, and many smaller markets in Florida and Oregon.
Fiserv notes that much of the sustained activity in the first half of the year was due to the federal government’s homebuyer tax credit that expired in June. Since then, home sales activity has plummeted.
In addition to the aftereffects of the tax credit, factors weighing on the housing market include chronic high unemployment and the large number of distressed properties that remain in markets such as Florida, Arizona, and Nevada.
Taking these factors into consideration, Fiserv says it expects home prices will drop over the next four quarters in nearly all metro markets before they start to stabilize at the end of 2011, provided there are no downside surprises for the economy or the housing and mortgage markets.
“Some of the largest declines in prices will occur in markets that had strong spring and summer 2010 price increases,” said David Stiff, Fiserv’s chief economist. “This is because the home buyer tax credit delayed the correction in home prices that is necessary to return housing affordability to its pre-bubble levels.”
Stiff points to the Phoenix market as a prime example. There, prices increased by 5.5 percent from the 2009 second quarter to the 2010 second quarter, but Fiserv is forecasting a 16 percent decline in Phoenix home prices by the second quarter of 2011.
Steep drops in home prices are expected to continue in markets that have been hurt most by the housing crisis.
From the second quarter of 2010 through the second quarter of 2011, Fiserv predicts home price declines of 12.4 percent in Nevada; 11.5 percent in Arizona; 9.4 percent in Florida; and 12.7 percent in the District of Columbia.
The analysts at Standard & Poor’s also released their forecast for the path of home prices on Monday. They anticipate an additional 7 percent to 10 percent drop through 2011.
“Low mortgage rates will likely continue to encourage refinancing, but their influence on homebuying activities has been limited due to the weak housing market and a lack of demand,” said Erkan Erturk, a credit analyst for S&P.
The ratings agency says a range of other key factors are also hampering a recovery in the housing market, including an elevated, but declining level of short sales and distressed asset sales.
S&P also points to the large backlog of distressed properties that have yet to be re-marketed for sale, high unemployment, and the ongoing foreclosure paperwork crisis as impeding any meaningful recovery for housing.
From: http://www.dsnews.com/articles/fiserv-sees-7-drop-in-home-prices-over-next-year-2010-11-15
11/15/2010 By: Carrie Bay
Despite a bounce in home prices during the first half of 2010, Fiserv Inc. says it expects property values nationally to fall another 7.1 percent over the next 12 months before beginning to stabilize. The Wisconsin-based financial services technology company sees double-dip territory ahead for many major markets, particularly those that saw the strongest appreciation during the spring and summer months of this year.
Prices of single-family homes rose an average of 3.6 percent during the second quarter of 2010 compared to a year earlier, according to the Fiserv Case-Shiller Indexes. As of the end of June, the median U.S. home price was $177,000, as tracked by Fiserv.
Fiserv says the annual increase in the national reading was driven by strong price increases in relatively high-priced markets, such as San Diego, Washington, D.C., and the San Francisco Bay area.
But despite the gain in the national average, prices actually fell in 70 percent of the 384 metro areas, compared to the 2009 second quarter. Many markets experienced double-digit drops, including Detroit; Boise, Idaho; Reno, Nevada, and many smaller markets in Florida and Oregon.
Fiserv notes that much of the sustained activity in the first half of the year was due to the federal government’s homebuyer tax credit that expired in June. Since then, home sales activity has plummeted.
In addition to the aftereffects of the tax credit, factors weighing on the housing market include chronic high unemployment and the large number of distressed properties that remain in markets such as Florida, Arizona, and Nevada.
Taking these factors into consideration, Fiserv says it expects home prices will drop over the next four quarters in nearly all metro markets before they start to stabilize at the end of 2011, provided there are no downside surprises for the economy or the housing and mortgage markets.
“Some of the largest declines in prices will occur in markets that had strong spring and summer 2010 price increases,” said David Stiff, Fiserv’s chief economist. “This is because the home buyer tax credit delayed the correction in home prices that is necessary to return housing affordability to its pre-bubble levels.”
Stiff points to the Phoenix market as a prime example. There, prices increased by 5.5 percent from the 2009 second quarter to the 2010 second quarter, but Fiserv is forecasting a 16 percent decline in Phoenix home prices by the second quarter of 2011.
Steep drops in home prices are expected to continue in markets that have been hurt most by the housing crisis.
From the second quarter of 2010 through the second quarter of 2011, Fiserv predicts home price declines of 12.4 percent in Nevada; 11.5 percent in Arizona; 9.4 percent in Florida; and 12.7 percent in the District of Columbia.
The analysts at Standard & Poor’s also released their forecast for the path of home prices on Monday. They anticipate an additional 7 percent to 10 percent drop through 2011.
“Low mortgage rates will likely continue to encourage refinancing, but their influence on homebuying activities has been limited due to the weak housing market and a lack of demand,” said Erkan Erturk, a credit analyst for S&P.
The ratings agency says a range of other key factors are also hampering a recovery in the housing market, including an elevated, but declining level of short sales and distressed asset sales.
S&P also points to the large backlog of distressed properties that have yet to be re-marketed for sale, high unemployment, and the ongoing foreclosure paperwork crisis as impeding any meaningful recovery for housing.
From: http://www.dsnews.com/articles/fiserv-sees-7-drop-in-home-prices-over-next-year-2010-11-15
Subscribe to:
Posts (Atom)
.JPG)