Real Estate Hot Spots... Are You In One?

Are You Selling in a Known Hot Spot for Real Estate?

Home sales prices are at an all-time record. Are real estate trends in your area pointing to a hot market?

Where Home Sellers are Seeing the Biggest Returns

1. Bridgeport, Connecticut

Fairfield County is seeing large gains in property values, with a 14% annualized return across the market. With a median list price of $789,100, returns are being realized from luxury communities such as Greenwich (median-$1.9-million), to less affluent Bridgeport (median-$199,000).

2. Detroit, Michigan

The Great Recession hit Detroit hard. In recent years, revitalization efforts have this market on the upswing, with younger buyers flocking to a market with a $260,000 median list price and realizing a 12% returns.

3. Seattle, Washington

Lucrative tech jobs in Seattle have resulted in fierce competition in this market, which has a median list price of $582,400 and returns of 12%.

4. San Jose, California

High-paid techies and venture capitalists in this market have it pushing a median list price of $1,240,300, and returns of 12%. Home to companies like Apple, even vacant lots in this market are going for $1-million+.

5. Palm Bay, Florida

In high-demand by Baby Boomer retirees and 45-minute drives to Orlando, Palm Bay is also attracting buyers looking for a lower price tag, with a $270,000 median versus Orlando’s $318,500.

6. Denver, Colorado

With a median price of $467,600, the Denver market is ‘growing’ alongside its cannabis-industry counterpart.

7. Providence, Rhode Island

Hot! 51% lower listing prices than Boston and median price of $350,000.

8. Boston, Massachusetts

A skintight market – median prices running $529,100.

9. Nashville, Tennessee

A surplus of jobs in this music hub are pushing the market higher, with a median price of $368,000 and 10% return.

10. Portland, Oregon

Buyers fleeing expensive markets like San Francisco and Seattle are flocking to this nearby market, with its median price of $477,500.

Stay on top of real estate trends you can count on with help from Properties Online.

Time to Get Listed for the Season

New Agent Tip: Jump Into Selling New Construction Homes – What to Know

Given the shortage of resale inventory in lower price brackets, new construction homes are luring consumers and inspiring a rise in building. This offers a great opportunity for helping buyers find the perfect home. However purchasing from a builder is a lot different than purchasing a resale home, and it’s essential for your clients to know the risks.

Real Estate Selling Tips for Avoiding New Construction Sales Pitfalls

– Make Sure Buyers Know Why They Need You

New construction sales teams represent the builder, with their interest at heart. With no agent representation, buyers are assuming a lot of risk. There’s no reduction in price/commission for purchasing without the aid of a buyer’s agent – builders don’t want home sales values to take a hit. Buyers won’t save any money, but lose access to a representative that will ensure key sales and build details don’t get overlooked or forgotten. Builders expect to pay buyer’s agent commissions, pocketing the difference when none exist.

– Expect to Negotiate

Builder’s reps will often give the idea sales prices are non-negotiable. While there’s not as much wiggle-room as resale homes, there is some leverage. For those that won’t budge, look to closing cost contributions or upgrades.

– Use Timing to Your Advantage

Knowing when to hold/fold can save your clients a ton: Builders aren’t emotionally attached. Big bargains can be leveraged if the builder has inventory that’s lingered on the market. Alternately, reserving a property before a second-phase addition begins can also mean big savings.

– Understand Upgrades

Get to know upgrades, ensuring buyers know which features of model homes are standard or an added cost.

– Educate Yourself . . .

. . . on architectural and site design, blueprint reading, construction methods, and materials so you can assist clients in making the best choice for their new home.

Do you have the real estate selling tips you need to navigate new home sales? Secure a brighter future with the help of PropertiesOnline today.

How to Become a Social Marketing Expert for Real Estate

Become a Social Marketing Expert – What You Must Know and Do

From computers and cell phones to today’s array of online tools and smartphone services, great agents know how to put technology to work, and social media is a huge weapon in their sales arsenal. Do you have the real estate selling tips you need to leverage it to your best advantage?

Social Media Can Help You Reach New Heights

A people-centered industry, social media is the life blood of today’s successful agents. It’s where the masses live. 81% of Americans have a social media profile, an arena which is expected to encompass over 200-million people by 2020. And it’s where a key demographic lies: Those using social media live in the suburbs, are more educated, and earn over $75,000 per year, prompting professional marketers to boost their social media budgets. Done right, it’ll bring in mad money. Done poorly, however, and it’ll leave your reputation in the gutter.

Keys to Using Social Media Wisely

– Know Your Neighborhoods

Facebook and Twitter are the bread-and-butter of the business. Instagram and Pinterest ideal for star-worthy, visually-enticing listings. LinkedIn a great tool for referrals on the B-2-B end.

– Market with Purpose

The primary reason for moving into social media neighborhoods is to bring in L-E-A-D-S. Keep this in mind with all your efforts, always including a response option (call/email/text) so readers can easily follow-up with you, as well as a strategy for providing the rapid response, essential to snagging today’s customers.

– Be a Teacher, Not a Salesperson

Truly interesting, helpful information is a rarity these days. Provide it, and you’ll shine like a star, gaining recognition and leads.

– Mesmerize Your Audience

Marketing with video gains more views and has a higher conversion rate. Embrace video. Americans are well-known for their love of moving pictures.

Do you have the real estate selling tips and tech you need to help you build your real estate brand quickly and easily? PropertiesOnline has you covered. Learn more today.

Dual Agency? Make Sure You Cover the Details with Potential Buyers and Sellers

Dual Agency? Make Sure You Cover the Details with Potential Buyers and Sellers

Dual agency real estate transactions are often confusing for clients, and come with a number of significant benefits and drawbacks. Left unaddressed, misunderstandings arising from a dual agency transaction can leave behind a bad taste, especially in those situations where things go awry. If dual agencies are legal in your state, here’s how to come out on top without getting any egg on your face.

Addressing the Conflict of Interest Conundrum

Though playing both sides does streamline the process and minimize communication delays, dual agency real estate has some significant gray areas, which are important to explain to clients to keep things on the up-and-up:

– Advice

Because buyers want the lowest price, and sellers the highest, dual agents cannot take sides or give advice. Instead you’re more like a parent, you love both kids, and want to make sure the outcome of the situation is fair.

– Checks/Balances

There’s no one to catch it if you miss things, as you’re running both sides. And because you’re human, mistakes will inevitably occur.

Pointing out the Pros

That said, dual agency real estate isn’t all bad. There are also many benefits that should likewise be pointed out to potential clients:

– Full disclosure

Dual-agent/broker scenarios must be disclosed/consensual, and can’t occur behind the scenes.

– Potential savings

Dual agency real estate allows for potential savings in commission fees if the same person plays the seller and buyer’s agent, reducing fees.

– Increased potential access to properties

In large brokerages, who house a number of agents forming a different kind of dual agency scenario, sellers have more access to potential buyers, and vice-versa.

– More streamlined sales

A single entity makes communication issues moot. Communication between parties is timely and the process more streamlined with a single agency in charge of scheduling paperwork and deadlines.

Help your dual agency do double duty. Up your game with tools and technology from Properties Online today­.

Real Estate Home Sales Are Hot! What's Up for the Rest of 2018?

Real Estate Home Sales Are Hot! What’s Up for the Rest of 2018?

What’s driving today’s real estate trends? Driven by low home inventory, new home sales are hot, with sales rising 6.7% in May despite extraordinarily high selling prices. This tops the far more conservative estimate of a 0.9% increase expected by economists at the Wall Street Journal.

Have We Surpassed Elevated Levels Seen Before the 07-09 Mortgage Crisis?

New home sales still remain well beyond such levels, and are up 14.1% compared to new home sales last May.

What Areas are Seeing the Greatest Growth?

Sales in the South are driving last month’s numbers, with the region experiencing a 17.9% increase in new home sales. Elsewhere in the Midwest, May sales were flat, and in the Northeast and Northwest, new home sales declined.

Will this Trend in New Home Sales Continue?

Expectations of single-family home sales by builders fell two-points in June according to the recent NAHB housing market index. Further economic growth, the creation of more jobs, and a solid housing demand, however, are expected to spur construction of more single-family homes in the months ahead.

What About Pre-Owned Homes?

Compared to sales in the first 4-5 months last year, 2018 sales of pre-owned homes have remained neutral.

How are Complications in the Sales Arena Playing a Role?

It’s commonly seen in real estate trends for low inventory to inflate prices, driving buyers out of the market, and we’ve been seeing that for quite some time now. But this isn’t the only factor complicating purchases. Mortgage interest rates rose to 4.59% in May, up more than half a point from January’s 4.03%. Labor is scarce, and lumber prices at record-highs, adding almost $9,000 to the cost of new single family homes since January of 2017. All-in-all, a harrowing time for making a home purchase.

Are you making the most of today’s hot housing market? Heat up your sales with the latest real estate trends and technology from Properties Online today­.