Archive for the ‘Real Estate’ Category

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Great article by  out of the Dallas Biz Journal.

Dallas is the most-affordable major metropolitan area to live in the United States, according to a report by ZipRealty, which measures the national housing market.

The ranking is based on median household income and the median home prices. This is the first year ZipRealty has compiled this data, which measures 30 metropolitan areas throughout the country.

Dallas’ median household income is $47,418 with the median home price of $249,950, which gives it a home price to median income ratio of 5.27. That ratio of home price to income is the lowest in the country, said Lanny Baker, president and CEO of Calfornia-based ZipRealty Inc. (NASDAQ: ZIPR)

“My sense is that the economy in Dallas is healthier today than it’s been for awhile,” Baker said, attributing his opinion to North Texas’ stable income levels. “That hasn’t yet translated into higher housing values.”

The favorable ratio of income to housing prices could bring in folks from other parts of the country, where housing prices are higher than Dallas. The median home price throughout the country is $299,500, which is about $50,000 more than Dallas’ median home price.

“Dallas isn’t inflating as fast as other areas of the country,” Baker said, adding that San Francisco, Sacramento and Las Vegas are seeing significantly higher home prices year-over-year through the first quarter of 2013.

Houston has the second-most-affordable housing market, followed by Minneapolis, with a 5.43 and a 5.5 index, respectively, Baker said.

Some of the most expensive places to live in the country based off the index include Washington, D.C., Brooklyn and the San Francisco area.

Click Here for a list of Top 10 most affordable housing markets…

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Great Article out of the Wall Street Journal…

blogs.wsj.com · The number of housing starts isn’t the only home-related item increasing. So is the size of a new home.

Great Article by Nick Timiraos from the Wall Street Journal about the sellers markets we are seeing not just in Texas, but the whole country…

Housing: It’s Becoming a Seller’s Market

ByNick Timiraos
National Association of Realtors

The National Association of Realtors said on Thursday what home buyers in many parts of the United States have known for months: it’s becoming a seller’s market.

The number of homes listed for sale in January fell by 4.9%, leaving 1.74 million properties on the market. That’s the lowest since December of 1999, when there were 1.71 million homes on the market. By contrast, there were 2.91 million homes on the market two years ago at this time.

After adjusting for seasonal factors, home sales rose by just 0.4% in January, to an annual rate of 4.92 million units. Still, that’s up from 9.1% one year ago.

The upshot is that there’s a growing pool of buyers chasing a shrinking supply of homes. If the trend holds, prices will keep going up. At the current pace of sales, it would take just 4.2 months to sell the current supply of homes available for sale, down from a 6.2 months’ supply one year ago.

While inventories typically increase in the spring, the Realtors’ group has expressed growing concerns that sales volumes are being held back by the lack of choice. This is good news for homeowners who have watched home prices drop over the last six years, but it’s bad news for buyers—and for anyone that makes their living selling real estate.

Inventory declines have been the most dramatic in California, Arizona, and other markets that witnessed some of the largest home price declines. Those cities have large numbers of underwater borrowers—people who owe more than their homes are worth—while many others may have equity but aren’t willing to sell because prices have fallen so far.

Investors have also been aggressive in buying up properties that are selling for less than their replacement cost.

National Association of Realtors

Home sales could rise to 5.2 million units this year, an increase of nearly 12% from last year, according to economists at Goldman Sachs . They base their forecast on household formation and demographics, which both suggest rising demand for housing in the coming years, and affordability measures such as mortgage rates and home prices.

But the economists note that there’s a considerable amount of uncertainty that could make those targets hard to hit, particularly if there’s nothing for would-be buyers to purchase.

Follow Nick @NickTimiraos

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Are you wondering what you need to do to increase your web presence for your real estate business?  Are you curious about what content home buyers and sellers are interested in regarding Real Estate?

You should have answered yes to both of these questions.

Google and the NAR have just released their report, “Consumer and  Market Trends in Real Estate.”  This report provides invaluable data that Real Estate agent should consider when designing their online marketing plans.

CLICK HERE TO VIEW THE REPORT

CLICK HERE TO SCHEDULE TIME WITH ME TO DEVELOP AN ONLINE MARKETING PLAN

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Last week the 2012 Profile of Home Buyers and Sellers was release by the NAR.  The profile is the results of a survey the NAR conducts every year from recent home buyers and sellers.  As a real estate agent you will find this data exceptionally valuable.  You will learn about home buyers and sellers experience with the process, what their motivations were to make a move, how and where they found their agent.

Some of the key points are:

  • 39 percent of recent home buyers were first-time buyers, a slight rise from 2011, but closer to the historical norm of 40 percent.
  • 65 percent of recent home buyers were married couples—the highest share since 2001. Conversely there was the lowest share of single buyers since 2001.
  • For 52 percent of home buyers, the first step in the home-buying process was taken online.
  • The typical home buyer searched for 12 weeks and viewed 10 homes—a decline from 12 homes in prior year, which speaks to the tightened inventory in many areas.
  • 89 percent of buyers purchased their home through a real estate agent or broker, similar to last year’s report—a share that steadily increased from 69 percent in 2001.
  • 88 percent of sellers were assisted by a real estate agent when selling their home.
  • Only 9 percent of recent sellers sold via FSBO sale. Among FSBO sellers who did not know the buyer prior to the sale—20 percent sold via FSBO because the buyer directly contacted them.
  • Approximately two-thirds of home sellers only contacted one agent before selecting the one to assist with their home sale.

Full article from Realtor.org

Click here to view the highlight of the report

Recently we had a client send us a picture of a survey the other day because the deadline was almost up and they were out of pocket from a scanner.

A mobile scanner app for your cell phone and/or tablet can really save you in these situations. Also, they are great apps for your clients too! We know how hard it is to get documents from our customers.

On Android I use CamScanner and on my iPad I use Genius Scan. They are both simple to use. You take a picture of the document, the program enhances and converts it to PDF or jpeg. Then you can email straight from your device.

Search for Cam Scanner in Google Play store and search Genius Scan in the App store.

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This is a great new product that you must look at if you are a realtor.  This is a free and easy way to increase you SMO (Social Media Optimization) and SEO (Search Engine Optimization).  Call me if you have any questions and need help getting set up.

I am here to help you increase your business.  You can reach me at 817-527-1181 or zach.sams@fnf.com

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It is a pretty busy week for just 4 days.  We had the first of 3 demos on the new Fidelity Agent 2.0 Software today.  Everybody really liked the new look of the interface and the new customizable features that the system has.

The first iPAD for Listing Agents class is this week.  Up until now all of the iPAD classes have been focused on working with buyers.

Also the Five Star Conference is going on this week and we are showing agents a great new system to working with short sales.  If you are actively working short sales, have in the past, or say you never will again then you should talk to me, because you are costin yourself to much time and money.

 

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DALLAS (Dallas Morning News) – The Dallas housing market has seen its largest boost in more than two years.

According to the latest index by S&P/Case-Shiller, the price of existing single-family homes in the Dallas area increased by 3.8 percent in May over the same month last year. It was one of the largest increases in the group’s comparison of 20 major U.S. housing markets.

Other markets showing year-over-year gains in May include Phoenix (11.5 percent) and Minneapolis (4.7 percent).

Dallas-area home prices remain about 6 percent below their peak in mid-2007. However, David Brown of Metrostudy Inc. believes shrinking supply and increased demand will continue to push prices upward.

Dallas is the only Texas city included in the Case-Shiller index.

http://activerain.com/blogsview/2924266/have-you-ever-heard-of-an-investor-open-house

The most significant thing we’ve learned in the past year about capturing and servicing the residential investor market is how easy it is. It turns out that most of the things that work to build a book of business of home buyers and sellers also work when you apply them to build a book of investor clients. Those tried-and-true methods that our industry has perfected over the years produce great results with investors. You don’t need to learn any new marketing and sales techniques, just apply your existing skills toward a new audience.

I am going to dedicate this space over the next few weeks to highlighting different methods and how they work. First up? The Investor Open House.

Is there anything more fundamental in our business than the Open House? Everyone has done them at some point in their career. Why? Because they work! Open Houses are a rejection-free way to meet new buyers. Many top producers don’t bother with them anymore, but I’ve never met anyone who denies that a good open house will attract visitors.

But have you ever heard of an Investor Open House?? Almost no one has until recently but they work like a charm

Investors like open houses just like home buyers do, and for the same reasons. No appointment necessary, just drop in and look around, leave whenever you want. Here are the three keys to make an Investor Open House work:

First, advertise it like this: “Investment Property Open House – Positive Cash Flow” (If you are not comfortable with calculating cash flow, we can help).

Second, the house must be presented as an investment and not a home. Think of it as merchandising. You need a new property flyer.

Third, create investment property flyers for 5 other listings and say “Would you like to see any of these?”

It’s that simple. Investors show up. They are delighted by what you hand them, and many are inclined to see more houses with you because you teased them with the report. This is the easiest way to create more transactions in this market.

Let me conclude by clarifying an important point – I want you to capture the best investor clients, not the “get rich quick”, “find me a foreclosure at half price!” types. If your experience with investors has been negative in the past, chances are it’s because you crossed paths with the wrong ones. There are people out there with realistic expectations, plenty of money, and a genuine need for help from a professional. Finding them is easier than your think. Stay tuned.

To learn more about the OwnAmerica training and tools, click here. We’d love to help you make money with with investors this year.