Archive for the ‘Leslie Appleton-Young’ Category

Housing Market Forecast

By Intero Real Estate | October 14th, 2009 0 Comments

C.A.R. says 2010 will mark the “new normal” for California Housing Market

The California Association of Realtors says median home prices are expected to rise modestly next year as the housing market begins to experience its “new normal.”

“This new normal likely will feature a steady stream of sales driven by distressed properties in the low end of the market, coupled with moderate home-price appreciation,” says James Liptak.

Liptak made his comments as part of C.A.R’s 2010 California Housing Market Forecast.

C.A.R. Vice President Leslie Appleton-Young says distressed properties are expected to account for nearly one-third of sales next year. She also says inventory will be “relatively lean, under six months during the off-season months, and a roughly four-month supply during the peak season.”

“The wild cards for 2010 include foreclosures, loan resets, the labor market and the California budget crises as well as the actions of the federal government,” Appleton-Young said.

For the full report, click here.

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Real Estate Conference

By Intero Real Estate | July 14th, 2009 0 Comments

Intero to be represented at Inman News’ Real Estate Connect conference

Intero’s Tom Tognoli is slated to be a featured speaker at Inman News’ Real Estate Connect conference in San Francisco next month.

More than 1,500 leaders from real estate, technology, lending, title and financial services are expected to attend the conference Aug. 5-7th at the Palace Hotel.

Yelp CEO Jeremy Stoppelman will deliver the keynote address. He will discuss how to build loyalty through word-of-mouth technology and how to engage a buying community.

Other speakers include:

The day before the conference, California Association of Realtor’s Chief Economist Leslie Appleton-Young will speak at a program called  “Gain the EDUTIZING Edge: How to build your business by giving today’s buyers and sellers what they really value—local market insight!”

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  • Inman News
    Inman News is the leading source of independent real estate news, information, advice, research, opinion and commentary for industry professionals and consumers alike.
  • California Association of Realtors
    The California Association of Realtors is one of the largest state trade organizations in the United States, with more than 155,000 members dedicated to the advancement of professionalism in real estate.
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C.A.R. Expo

By Intero Real Estate | July 3rd, 2009 0 Comments

Registration underway for the California Association of Realtors Expo

It’s time to start thinking about the California Association of Realtors® Expo if you haven’t already.

Registration is underway for the largest state real estate tradeshow.

This year’s Expo will be held Oct. 6-8 in the San Jose Convention Center. It is expected to draw more than 10,000 real estate practitioners and feature more than 300 exhibit booths.

Bodine Balasco will present the Tech Tuesday luncheon speech, Technology Tips and Techniques: Keep Clients and Deliver Results. Tech Tuesday is a day of tech training, including hands-on practices.

Leslie Appleton-Young, vice president and chief economist for the California Association of Realtors®, will discuss the 2010 Housing Market Forecast during the Opening Luncheon Oct. 7.

Connie Podesta will deliver the Expo closing luncheon speech, Life Would Be Easy if it Weren’t for Other People.

A tentative schedule also includes workshops such as: 20 Free and Low-Cost Online Marketing Tips, Green Marketing Tips for Homeowners and Sellers and The ABCs of Successful Selling: What Works and What Does Not.

For more information, please click here.

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Rapid Response

By Intero Real Estate | March 12th, 2009 0 Comments

C.A.R. economist: Today’s homebuyers want quick responses from agents

A personal digital assistant, whether it is an iPhone, a BlackBerry or something else, is an important tool for success in the real estate market, according to a recent story in The Sacramento Bee.

The newspaper reported on a briefing by Leslie Appleton-Young, economist for the California Association of Realtors. Appleton-Young was speaking to members of the Sacramento Association of Realtors earlier this month.

According to the paper, Appleton-Young said more than half of homebuyers want to hear back from agents within 30 minutes of calling. She also said 40 percent of homebuyers browse real estate agents’ Web sites to find an agent.

Agents also are attracting clients from Facebook, Appleton-Young said.

Click here for the full story.

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Housing Market Report

By Intero Real Estate | December 18th, 2008 0 Comments

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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CALIFORNIA REALTOR® EXPO

By Intero Real Estate | October 9th, 2008 0 Comments

Expo will feature seminars, new products and opportunities for networking

The CALIFORNIA REALTOR® EXPO starts next week in Long Beach, Calif.

The Expo, which runs Tuesday through Thursday, will feature several seminars, opportunities for networking and more than 200 exhibit booths.

More than 10,000 people are expected to attend.

On Wednesday, C.A.R. Chief Economist Leslie Appleton-Young will give the Association’s 2009 Housing Market Forecast starting at noon. Later that day, Jeff Davi, the commissioner of the California Department of Real Estate, will present an update on the licensing activities, legislative issues and other key areas and then take questions from the audience.

Thursday’s events will include a session called “The Road to Recovery: Are We There Yet?” that will feature Appleton-Young as well as other real estate experts.

In a session earlier in the day Thursday, Joseph A. Michelli, author of “The Starbucks Experience: 5 Principles for Turning Ordinary into Extraordinary,” will discuss his analysis of Starbucks’ business model and the company’s customer service platform.

Other seminars will focus on technology in the real estate business as well as green and sustainable business practices.

The Expo will be held at the Long Beach Convention Center.

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Home sales increased more than 18 percent in May

By Intero Real Estate | June 26th, 2008 0 Comments

C.A.R report also shows median price of existing home dropped

The May home sales report from the California Association of REALTORS® is out this week and shows that home sales grew 18.1 percent in May compared to the same time period last year. The report also shows that the median price of an existing home dropped 35.3 percent from May 2007.

C.A.R. says closed escrow sales of existing, single-family detached homes reached 423,700 in May at a seasonally adjusted annualized rate. That sales figure represents how many homes would be sold during 2008 if sales kept up with May’s pace throughout the year.

“Home sales exceeded 400,000 last month for the first time since early 2007. While this is a welcome sign for the market, it was due in part to the large share of distressed homes for sale in many parts of the state,” C.A.R. President William E. Brown said.

The statewide median price for an existing, single-family detached home was $384,840 in May, a 35.3 percent drop from May 2007, C.A.R. reports. C.A.R. Vice President and Chief Economist Leslie Appleton-Young says the drop reflected the impact of the market’s large number of short sales and foreclosures.

According to the report, the 10 cities with the highest median home prices in the state in May were:

  1. Los Altos, $1,710,000
  2. Burlingame, $1,700,500
  3. Saratoga, $1,506,500
  4. Mill Valley, $1,475,000
  5. Los Gatos, $1,350,000
  6. Newport Beach, $1,250,000
  7. Cupertino, $1,172,500
  8. Santa Barbara, $1,066,000
  9. Rancho Palos Verdes, $950,000
  10. San Carlos, $900,000
To see the full report, please click here.

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Persevere, and you will succeed as a REALTOR®

By Intero Real Estate | January 18th, 2008 0 Comments

Advice to agents on how to make 2008 a good year, regardless of market conditions
Gino BlefariIntero’s company-wide annual meeting is just around the corner (Wednesday, February 6th). I’ve invited Leslie Appleton-Young, Vice President and Chief Economist for the California Association of REALTORS® (C.A.R.), to speak. She’ll be talking about the California market in 2008 and trends we can expect to see.

Leslie oversees the analysis of housing market and brokerage industry trends, member communications, and membership development activities at C.A.R. She is also closely involved in the Association’s strategic planning efforts and is a well-known speaker about California real estate. She joined C.A.R. in 1984.

PERSEVERANCE

Steady persistence in a course of action, a purpose, a state,
esp. in spite of difficulties, obstacles, or discouragement.

At our annual Intero luncheon, I introduce the Intero theme for the coming year. I’d like to give a preview here of that theme, PERSEVERANCE, as I think it speaks to the industry as a whole.

The real estate market across the country has shifted, and agents, brokers, mortgage lenders—just about anyone in the industry—are all facing some big challenges this year. I believe those who will succeed in 2008 will do so because we persevere—if we simply do our job, we will thrive.

Perseverance is the test of your commitment to your goals, and it’s our core purpose, the things that really mean something to us, that help us to persevere. That purpose drives us through difficulties and past obstacles that are put in our way. That’s why we’ve always emphasized at Intero the need for purpose in work and life. Without it, it’s just too easy to wander off your path and get lost.

Here’s a good book, Unstoppable by Cynthia Kersey, that speaks to this point. Kersey gives 45 stories of perseverance and triumph, and shows how purposes “ignites the spirit” and drives people forward.

Here at Intero, I’m encouraging all our agents to take several hours and review and complete a 2008 Business Plan, including their goals and objectives. This will help to define your purpose for the year. With your business plan complete, set a schedule for the entirety of 2008.  This may seem strange but I have done it for years and it works.

Have faith and remember: if it is not in your schedule, it doesn’t exist.  Things don’t happen by a specific time, things happen at a specific time.  Here are some scheduling tips for agents:

  • Begin by scheduling your vacation and personal days off—these days are important, because they help to give you balance in life
  • Schedule all the training you will do personally and professionally
  • Schedule all of your activities in 2008 for your business: role playing, planning time, prospecting, open houses, lead follow-up, office meetings, staff meetings and your appointments
  • Once you’ve laid out your schedule for the year, never make a commitment of your time without reviewing your schedule

My recommendation to agents is that you should hold at least 50 OPEN HOUSES IN 2008—and schedule these into your calendar.  Use the downtime during your open house to review your business plan.  This way, you are looking at it at least once per week.

And remember:

“Perseverance is a great element of success. If you only knock long enough and loud enough at the gate, you are sure to wake up somebody.”

Henry Wadsworth Longfellow
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