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Posts Tagged housing market

Economist: Here’s What You Should Know about the 2014 Housing Market

by Courtney Soinski

housingDo you know what to expect in this year’s housing market?  No matter what you think you know, listen up!  Veteran housing economist David Berson, who previously served as the chief economist at The PMI and Fannie Mae, gives us his professional housing forecast for 2014.

Berson’s first prediction is that 2014 will be the strongest year for housing since before the Great Recession.  With employment growth accelerating and unemployment declining, most economists expect an improved job market in 2014.  In turn, this will improve housing demand this year, even if mortgage rates rise and affordability declines.

Secondly, demographics will begin to favor housing activity.  Housing is most affected by the demographic factor: household formations.  In the years following the Great Recession, people who normally would have lived on their own decided to move in together if they were worried about their job or economic standing.  Now, there is a pent-up demand for household formations.  Berson explains, “Beginning in 2014, the pace of household formations should accelerate to an above-trend pace for several years, pushing up housing demand.”

Lastly, mortgage availability shouldn’t worse and will potentially improve.  Compared with recent years, mortgage availability has slightly increased.  According to Berson, “the increase in new households expected to be created this year, spurred by a stronger job market, should find that qualifying for a mortgage loan will be somewhat easier in 2014 than in prior years.”

 

Source: “Economist: What 2014 Holds for Real Estate,” REALTOR® Mag, Daily Real Estate News, March 20, 2014

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Winning Strategies for Getting to the Real Estate Super Bowl

by Rebecca Chandler

(Photo credit: Wikipedia)

The Seattle Seahawks and the Denver Broncos didn’t get a Super Bowl shot by accident. They spent the pre-season and the season preparing, practicing, analyzing, and working to get the chance to play in New Jersey on February 2nd. Do you have a strategy for getting in the real estate Super Bowl next year? What is your game plan? Do you have a “game changer” in your future?

Let’s start with the pre-season – scouting, preparation and practice. Football coaches do not wait until the season starts to start work. Do you? Now, during the winter months, while some buyers and sellers are active, probably more are considering their plans for spring. Should they sell? What do they need to do to prepare their home to get the best price? Where should they buy? What should they expect to pay? Now is the time to start.

Are the scouts finding you? Many agents assume that because the market is slower in the winter, that their marketing efforts can be lessened. Nothing could be further from the truth. Now is the time to get in front of your prospective clients while they are researching and “scouting” for an agent. And, they look everywhere – web, mobile, in local real estate magazines, in their mailbox, on blogs, and social networks, etc. They are in the zone. If your listing inventory is low, and you are relying on your exposure on listing aggregation sites to generate interest and to gain top-of-mind awareness, you will probably be a last round draft pick – if at all.

Instead, by promoting your skills, your brand, your local expertise – in every media and source local home shoppers use, you will make that first round pick.

Preparation. Now is a great time to re-examine your home selling game plan. When was the last time you updated your seller presentation? NewPoint Media Group conducted a survey of over 2500 home owners preparing to sell. The most important service they expected from their agent? Marketing. What does the presentation you give to potential sellers say about the marketing plan you will conduct for their home? Does it look like the marketing plan every other agent in town will offer? The MLS, a yard sign, an open house, and web exposure on free listing aggregate sites. Anyone (and everyone) will offer that. Instead, put together a marketing game plan for your listings. Can you include things like text lead generation? Single property mobile website? A YouTube video of the home? GPS-enabled search and lead generation? A targeted direct mail campaign? And exposure in a local real estate publication that reaches out to potential buyers everywhere they live, work, shop and play?

If your presentation does not include a full-range of marketing services, your competitor’s very well may. And, your chances of winning that listing game are slim.

The Game Changer. Practice. Start now. Part of a winning game plan is to know what works and what doesn’t. By starting your game plan now (and not waiting until spring), you have the opportunity to fine tune and test your plays. Track your results. Up your investment in winning strategies and lower or drop those things that do not work. So, when the season starts, your playbook will be set while your competitors are still fumbling around. You’ll gain momentum and market share while they try to dig themselves out of a losing season start.

Hire the best coaching staff you can.  Your local Real Estate Book representative can give you a full review of your current marketing plan and an update on the most complete set of winning multi-media marketing tools available today.  And, with the best in the business coaching you from the sidelines, you’re sure to have a winning season.

 

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National Association of REALTORS 2010 Profile of Home Buyers and Sellers Reveals Winning Trends.

What are the winning qualities consumers look for in real estate professionals?

How do top agents continue to win?

What are the winning qualities home buyers and sellers look for in a real estate professional?  The recent release of the National Association of REALTORS Profile of Home Buyers and Sellers for 2010 reveals that even with access to an abundance of information online, consumers still value the services offered by a full-service agents and brokers.

According to the stats – Here’s what  sellers want most from a full service agent –

  1. Help me price the home competitively – 22%
  2. Help find a buyer for the home – 21%
  3. Help seller market the home to potential buyers – 20%
  4. Help sell the home in a specific time frame – 19%

In today’s market place, sellers rely even more on real estate professionals to help them price their homes as competitively and realistically as possible.   Most understand that their home has most likely,  lost value in the past few years and understandably, want to sell for as much as they can.

Consumers also know that exposing their home to the largest universe of buyers possible means they stand a better chance of selling quickly and for a higher price.  That’s why agents who go above and beyond to actually market the home versus just posting it on the web on free  sites are preferred by sellers.

Also, according to the study, buyers want a real estate professional to  —

  1. Help them to find the right home – 51%
  2. Help negotiate the terms – 14%
  3. Help with price negotiations – 12%
  4. Help with the paperwork – 10%

Even though home shopping on their own has never been easier, buyers are still looking to the agent to help them find the right home and a professional agent to help them through the process.    Agents who presents themselves as honest, caring,  knowledgeable, and full-service stand a better chance of engaging buyers.

Even though the market has changed and technology has changed, consumers’ expectations remain consistent.   Sellers still want their home priced well and marketed well with the belief that means a faster, more profitable  sell and buyers are still looking for a professional agent to guide them through the process.

Top agents have always known this and they make sure they promote these qualities to both buyers and sellers.  That’s why they continue to win the business and confidence of consumers.

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