Using Group Buy Sites For Real Estate

I came across an article on Inmannews that piqued my interest. It was discussing gaining new clients by using “Group Buy” sites (Groupon, Living Social, Etc.) that would offer deals such as $1,000 cash back at closing. Apparently these site are hesitant to allows such deals, and I’m not sure I blame them. While it sounds awesome from a marketing stand point (I use Groupon frequently and I have definitely seen the effects on business it has when I go to spend them) I’m not sure how receptive people would be to use a coupon on their purchase of a home. With more involved purchases consumers want more information and, with the limited time given to decide on buying a Groupon, I don’t think it’s enough time for buyers to find everything they need to make a well-informed decision.

Whether or not you think the world is ready for real estate coupons, you can check out the full article on Inmannews.

Real Estate is Going Green

It seems like green technology is all over these days; real estate is no exception. Buyer’s want to save money and the environment with energy-saving features such as solar panels, tankless water heaters, energy-saving appliances, extra insulation, drought-resistant landscape, heat exchangers for fireplaces, whole-house fans, even ceiling fans, and reflective tinting on windows. According to Realty Times, many new construction builders are turning their focus on making homes with solar panels and other utility-saving technology to entice as many buyers as possible. There is even a specialty FHA loan, the “Energy Efficient Mortgage Program”, that allows all energy-efficient improvements to be financed into the mortgage. And CNN says, “Sustainable construction is one of the fastest-growing segments of the already-red-hot commercial-building industry.” So whatever segment of the market you are in, going green can make an important impact.

For more information on making your property green, visit some of these great blogs from HomeGain:

• 7 Ways to Green Your Home on a Budget by Brian Kinkade
• Housing Tips to Stay Green and Help the Environment, Energy Savings by Andrew Duncan
• Tips to Help You Save on Energy Costs, Electric Bills, Maintenance by Andrew Duncan
• Going Green by Tim Stoll
• Geothermal heating and air conditioning powered by the earth by Marie Scheuring
• FREE! Tips on Saving Energy & Money at Home. Reduce your home energy by Mike and Rose Garant
• Energy and Home Improvement Credits by Connie Marks

Does your property description matter?

As a realtor it is important to market properties in a way that is appealing to potential buyers. With the internet there is a wealth of information out there and potential buyers can simply dismiss your listings if they don’t even pass their initial criteria. A study done by bankrate.com found four main turn-offs that will prevent a buyer from even stepping foot on your property.

• No photos: If they can’t see pictures of your property that’s strike one. It is very easy on today’s real estate sites like hotpads, Zillow, Trulia, etc. to just eliminate listings without pictures from search results.
• Exaggerating: Using phrases like “the best” or “perfect” can be a huge turn off. Buyers tend to assume you are exaggerating to get their attention. Don’t bring the quality of the home down by not using flattering, descriptive language; just don’t get carried away.
• As-Is: While listing a home in as-is condition is being honest, it makes buyers think there might be a lot of work involved and that it isn’t in very good condition. Don’t ignore major improvements in your description but don’t be negative. “A study by the University of Guelph in Ontario found that when listings’ ads incorporated words like ‘beautiful’ – rather than ‘move in condition’ – the sale price was influence by 5 percent… (realtor.org)”
• Don’t imply it was flipped: If the property has been flipped, focus on the fact that it has been newly renovated and the quality of the new work and features.

To view bankrate.com’s graphic displaying this information visit: http://www.bankrate.com/finance/real-estate/how-to-spoil-a-home-description-infographic.aspx

Investors to Dominate Market

With home prices at historic lows there has never been a better time to dive into the world of investing. In an article from move.com, they compiled information on today’s investor. 60 percent of the people surveyed were new to investing and 50 percent planned to keep the property for at least 5 years, this makes current investors different from sterotypical ”flippers” who buy, fix and sell properties quickly.  According to the article,  ”They’re mostly entrepreneurial individuals that will make vital contributions to local communities by investing their own money and sweat equity to improve and maintain properties. These personal sacrifices made over the long run will help improve housing stocks, home values, property tax bases, and thousands of local communities.” This article proves that anyone can become a real estate investor, especially with the proper insight and knowledge.

 To find out more information view the full article, http://news.move.com/index.php?s=11609&item=40281, or attend our Investor Mastermind sessions each month to gain insight from local investors. The next meeting is on June 14, 2011.

Buy vs. rent: These days, buying wins

Although many homeowners are skeptical of the market, and homeownership in general, it may make the most financial sense to buy instead of rent. Many people are underwater on houses that are not worth what they used to be and renting appears to be a better option to them. However, an article from cnn money argues that with rent on the rise, buying could save people money in the long term. To view the full article click the link below:

http://money.cnn.com/2011/05/13/real_estate/rent_not_buy/index.htm