Things are Looking Up

March 24, 2012 Leave a comment

Prudential Real Estate made news at the Prudential Real Estate Sales Convention 2012 in Orlando, FL in announcing results of its second-annual consumer Outlook Survey.  Bloomberg News ran an exclusive story March 13 and was broadcast to the national media and real estate trades March 14, 2012.  Prudential Real Estate President, Earl Lee conducted a series of television and radio interviews on March 14 followed by an appearance on CNBC‘s Squawk on the Street news show on March 15.  The following is the video of that interview:

 

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Americans Increasingly Optimistic About Homeownership

March 21, 2012 Leave a comment

Prudential Real Estate, a Brookfield Residential Property Services company, today released a new national survey showing that Americans are significantly more optimistic about homeownership than they were a year ago.  According to the second-annual Prudential Real Estate Outlook Survey, a full 60% of Americans have favorable views toward the real estate market.  That’s up 8 points since last year.

The survey shows that signs of increasing optimism are widespread:

  • With interest rates at historically low levels, 96% agree or somewhat agree that now is a good time to buy.
  • A full 70% of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year.
  • 63% believe tha real estate is a good investment despite the recent market volatility; that’s up 11 points form last year.

The survey confirms that despite the recession, homeownership remains a central part of the American Dream.  Eight in ten respondents said homeownership is very important to them; only 15% said the economic downturn made homeownership less important.
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The Foreclosure Process in Pennsylvania

February 14, 2012 Leave a comment

Foreclosures are never pretty.  They tear families apart.  They destroy a homeowner’s credit.  They ruin a neighborhood’s sense of closeness.  When someone that you know is in financial trouble, you feel like you’re living their nightmare.

The purpose of this post is not to draw attention to this troubling trend, but to assist homeowner’s in understanding the confusing process that they might go through if they find themselves in this unfortunate circumstance.


(Click the graphic above for a larger image)

Before the foreclosure process can begin, the borrower must be at least 60 days late on payments.  The lender usually sends the borrower two letters before starting the foreclosure.  These letters notify the borrower of the impending foreclosure and give the borrower options to prevent the foreclosure.  The owner has a period of 2-4 months to find a way to prevent the foreclosure before the lender takes further action.
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The Wave of Un-Syndication

January 28, 2012 Leave a comment

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A couple of days ago, I posted four real estate predictions for 2012 that I thought would ‘Rock’ the industry this year.  I’ve heard from a couple of my colleagues that told me that my observations on listing syndication were not an accurate reflection of how the industry feels.  Well – - – it didn’t take long for the first prediction to start manifesting itself right before our very eyes.

Abbott Realty Group (ARG), a well-respected, residential brokerage company in San Diego, CA posted the following video on its YouTube channel.  Take a look:

 

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Still think that brokers across the country will never pull out of REALTOR.com, Trulia, Zillow, et. al.?  Jim Abbott, the President of ARG, outlines some compelling points in favor of yanking a firm’s listings from these aggregators.  As the year unfolds, it will be interesting to see how many other brokers follow ARG’s lead.  Stay tuned.

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Four Trends That Will Rock the Real Estate Industry in 2012

January 23, 2012 2 Comments

If there is one thing that I’ve learned in the real estate business over the years it’s that change is constant.  New tools, programs, regulations and innovators make this an industry that doesn’t stand still.

From computerization of Multiple Listing Service data to smart phones to mortgage preapprovals to digital signatures; innovation waits for no one.  You either embrace it or get out of the way.

So without further ado, here are my predictions for the upcoming year and some of the things that I believe will rock our industry (again):

1.  Listing Syndication and Internet Data Exchange (IDX) Will Come Under Fire

It has been commonplace over the last couple of years for companies and agents to syndicate their listings to as many real estate web sites as possible to increase the chance that their properties will get noticed by home buyers who will in turn contact an agent to buy a home.  Sounds like a plan – right?

Enter Edina Realty.  Edina is a mega broker with 60 real estate offices and over $5 billion in sales located in Minnesota, Wisconsin and North Dakota.  In late 2011, Edina stopped syndicating their listings to national websites.  Why would one of the top ten real estate companies in the US decide to shun syndication?  If you listen to them, there are three reasons: Read more of this post

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‘Tis the Season to Add to Your Database

December 18, 2011 Leave a comment

The holidays are upon us, and chances are you will be attending a number of holiday-related business or social events.  From your spouse’s office party to a Super Bowl extravaganza, maintaining a balance between having fun and seizing a networking opportunity as a real estate agent is critical.

How you approach these gatherings may mean the difference between making a lasting and positive first impression that could drive new buyers and sellers in your direction, or turning off future, present or past clients.

Here are some simple ways in which you can convey a friendly, polite professionalism while you’re networking during holiday events:

Dress the Part.  This may sound trite, but people will judge you by your appearance.  Let your personality and what you say at these events be the things that people remember; not your inappropriate attire.  If you’re going to err, make sure you do it on the side of overdressing.

Be Punctual.  I know many people make it a habit of showing up “fashionably late” at these get-togethers; however, showing up on time to events demonstrates that you are responsible and reliable.  Moreover, it communicates that you respect the person who is hosting the event and the people attending it enough to make it a priority. Read more of this post

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Spring Advertising Campaign Set to Kick-Off

March 6, 2011 Leave a comment

Real people with a real message!  That’s the theme of these three television commercials that are starting to run on WGAL, Fox 43, WHP 21, Comcast and Viamedia.  They will run through the Spring buying season and end during the latter part of May.

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What’s Really Happening in the Real Estate Market?

September 2, 2010 Leave a comment

The national media is constantly bombarding its readership and viewership with stories that will scare the you know what out of you.  Here’s a slideshow that presents facts on what is happening right now in the real estate market.  No fluff or unsubstantiated wild statements.  Just facts!

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