More real estate veterans weigh in with slow market tips
California Real Estate Magazine this month offers insights and suggestions from veteran real estate agents on how to get through the downturn in the housing market.
Here are a few of the tips from the magazine article:
- Familiarize yourself again with some basic strategies, such as open houses, marketing plans and cold-calling.
- Get in touch with former clients, says John Oldfield, a REALTOR® with Prudential California Realty in San Francisco.
- Take a training class, says Annette Graw, a broker-associate with South Bay Brokers in Manhattan Beach.
The California Real Estate Magazine article also offers some mistakes you don’t want to make during the slow market.
According to the experts in the magazine article, you should be careful not to:
- Expand your target market too much. That increases costs and could result in problems stemming from inadequate market knowledge. The experts also warn that it’s important not to shrink your target market too much.
- Take a park-time job. A part-time job, the veterans say, could lock agents into inflexible schedules that can prove difficult with a full-time real estate career.
For all of the tips and the full story from California Real Estate Magazine, click here.
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C.A.R. launches “At home with green™” Web site
Have you checked out the new green Web site by the CALIFORNIA ASSOCIATION OF REALTORS®?
The association launched the site, “At home with green™, as a way to focus on C.A.R.’s Green Initiative and to provide homeowners, REALTORS®, and the general public with information about how they can make their homes, offices and lives more environmentally friendly.
The Web site features an index of green resources, green terminology and key green principals.
For REALTORS®, the site includes tips about how to sell a green home to consumers, as well as information about making your office more environmentally friendly.
The site also includes information for homeowners and home buyers about:
- Buying green homes.
- Incentives for making homes more environmentally friendly.
- Finding REALTORS® with green credentials, such as EcoBrokers.
The Web site also has a “Green Blog,” which can be accessed only by members of the California Association of REALTORS®.
“Housing is often one of the leading contributors of greenhouse emissions,” former C.A.R. President William E. Brown said. “It’s important to raise awareness and educate members and consumers about environmentally sound practices.”
See Also
- Intero Real Estate Services- Find Real Estate, Property For Sale, Homes For Sale
Intero Real Estate Services is one of the premier real estate brokerages. Find real estate, properties and homes for sale in Arizona, California, Colorado, Florida, Hawaii, Nevada and Texas.
- CALIFORNIA ASSOCIATION OF REALTORS®
The CALIFORNIA ASSOCIATION OF REALTORS® is a statewide trade association dedicated to the advancement of professionalism in real estate.
- At home with green(TM)
At home with green(TM), produced by the CALIFORNIA ASSOCIATION OF REALTORS®, offers information for REALTORS® and homeowners and home buyers about environmental issues in real estate.
- ECOBROKER
Welcome to ECOBROKER.com, your best resource for learning about and finding energy efficient, sustainable, and healthy homes and commercial buildings.
New report focuses on turbulent year in California housing market
The housing market in California experienced a turbulent year in 2008, with improved home sales, lower home prices, and the financial market meltdown. That’s according to a report by the California Association of Realtors®, the “State of the California Housing Market 2008-2009” that was released this week.
Here are some of the report’s findings:
- Almost one of five sellers sold their property because their property was in foreclosure, short sales, or default.
- The number of sellers who sold their home with a loss hit a record-setting 22.2 percent.
- The median price of existing homes, including single-family homes, condos and town homes, dropped by nearly 18 percent to $440,000 in 2008. A year earlier, the median price was $535,000.
“The market will continue to experience large year-to-year decreases in the coming months before leveling out in 2009. The statewide median price is expected to decline 31.7 percent to $381,000 for 2008, the first decline since 1996. The statewide median price will further decline by 6 percent in 2009 to $358,000,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.
C.A.R. says sales generally improved over last year, after two years of declines exceeding 20 percent. In 2008, annual sales are expected to increase 12 percent, with a further 12.5 percent annual increase projected for 2009.
C.A.R. President James Liptak says that the share of first-time buyers increased from 30.4 percent in 2007 to 35.9 percent in 2008. That’s well below the peak levels in the 1990s, when half of the market consisted of first-timers, Liptak says.
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NAR, C.A.R. have new leaders for 2009
There is new leadership at the National Association of REALTORS® and the California Association of REALTORS®.
Charles McMillan, who’s been a REALTOR® for more than 20 years, is the 2009 NAR president. He is also the director of realty relations and broker of record for Coldwell Banker Residential Brokerage, Dallas-Fort Worth.
McMillan was NAR 2008 president-elect, and was the first vice president in 2007. He also served as the Texas Association of REALTORS® president in 1998.
In a speech at a NAR leadership summit in August, McMillan spoke about change, warning, “if you are not ready and willing to address change, you will not succeed.” He also said that leaders must be able to distinguish short-term change and real progress. McMillan’s final point was this: “I believe all change starts at the individual level. It cannot be forced on an organization, each and every member is responsible for doing their part.”
Meanwhile, James Liptak, a broker with Country Real Estate in Paso Robles, is the 2009 C.A.R. president. Liptak is also president of James & Sydney Liptak Inc.
In a story in California Real Estate Magazine, Liptak says he wants to be C.A.R. president because “This is the most successful real estate organization in the world. … We’re the largest state trade association in the country, and we’re the best. It’s like standing on top of Mount Everest. You’re looking at the rest of the world, and you’re looking at it from a very advantageous viewpoint.”
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Magazine offers eco-friendly tips, ideas
This month’s issue of “California Real Estate,” the magazine published by the California Association of Realtors®, suggests ways consumers and agents can follow green principles.
“More consumers are becoming aware of green practices and are trying to reduce their carbon footprints, especially through their homes,” said C.A.R. President William E. Brown. “As REALTORS®, it is important that we also are educated on green practices so we can better serve our clients, who often seek eco-friendly and energy efficient designs during their home searches.”
One article in the magazine offers tips about how to create an eco-friendly office. Among the suggestions: Shut off your computer at night or allow it to enter into energy-saving mode, open the blinds and turn off the lights, and recycle ink cartridges.
“California Real Estate” readers also will learn how to define a green home and how to find green financing. And, they’ll pick up general tips on living green, such as bringing cloth bags to the grocery store or going meatless on Mondays.
Intero is a leader in green initiatives. The company has more than 100 EcoBroker Certified® agents. In 2006, EcoBroker International and the Association of Energy and Environmental Real Estate Professionals awarded Intero President and CEO Gino Blefari the EcoBroker Community Service Award.
Intero also has come up with a new concept in office designs that has a smaller, more eco-friendly footprint.
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C.A.R. says affordability of starter homes doubles
A new report from the CALIFORNIA ASSOCIATION OF REALTORS@ says the percentage of households that could afford an entry-level home in California doubled in the second quarter of 2008 compared with the same time the previous year.
The association says the percentage of households that could afford a starter home was 48 percent, compared with 24 percent from the same period a year ago.
“The minimum housing income needed to purchase an entry-level home at $329,120 in California in the second quarter of 2008 was $62,870, based on an adjustable interest rate of 5.69 percent and assuming a 10 percent down payment,” C.A.R. reports this week.
C.A.R. says first-time buyers usually buy a house “equal to 85 percent of the prevailing median price. The monthly payment including taxes and insurance was $2,100 for the second quarter of 2008.”
Click here for the full report.
In other news, Tom Tognoli, Intero’s chief operating officer, will be speaking at RISMedia’s annual Leadership Conference next month. RISMedia says the two-day conference “focuses on building stronger real estate and relocation businesses and the future of our industry.” The conference will take place Sept. 3-4 at The Roosevelt Hotel in New York.
Click here for more information.
See Also
- California Association of REALTORS®
C.A.R. is one of the largest state trade organizations in the United States, with nearly 175,000 members dedicated to the advancement of professionalism in real estate.
- RISMedia
RISMedia provides the real estate industry with news, research, and market analysis on trends affecting residential real estate.
- Intero Real Estate Services- Find Real Estate, Property For Sale, Homes For Sale
Intero Real Estate Services is a premier real estate brokerage. Find real estate,properties and homes for sale in Arizona, California, Colorado, Florida, Hawaii, Nevada and Texas.
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