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What’s Up With Housing?

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Some buyers love the idea of farm living providing it’s in the heart of the suburbs. Like golf communities, agrihoods focus on nature but also sell organic food.
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After falling for the last 10 years, the home-ownership rate increased during the first half of 2017.
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With 10,000 boomers retiring each day, builders remain confident. NAHB’s 2Q 55+ index not only rose 11 points, it’s been in positive territory for over four years.
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What Do Buyers Want More — A Bigger House or a Bigger Yard?
Turns out a big yard gives homeowners the extra ‘breathing room’ they want.
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Siding, Paint, Roofing, Wallboard Join Lumber as Input Inflation Drivers.
As 2018 budget season arrives, it’s time to both model in and do something about cost escalation on building products and materials.
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Tampa Bay Has Two New Million-Dollar ZIP Code Areas — Is Yours One of Them?
The addition of St Petersburg’s 33701 to the million-dollar ZIP list reflects the huge demand for luxury condos along Beach Drive with its waterfront views and wealth of restaurants.
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What’s Up With Housing?

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Survey: A top reason 1 out of 3 millennials buy a first home is to provide a yard for their dog. As a motivator, it outranked marriage and raising children.
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ROI of Sustainability is More Complex Than You Think.
The value of energy efficiency and sustainability can prove to be greater, more lucrative or more complex than it appears on the surface.
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In the second quarter of 2017, the Florida housing market had more closed sales, higher median prices and more pending sales, according to Florida Realtors.
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Florida Leads Nation in Foreign Residents Buying and Selling.
Foreign investors want to buy in Florida, but they also want to sell Fla. property when the income potential is right – and many Canadians think that time is now.
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It might not be “Plan A,” but some Millennials that return home after college are turning it into a positive stay by saving enough cash to buy homes.


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What’s Up With Housing?

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Check out the slideshow for which ZIP codes saw the most homes sell, as well as the average and sale prices for each ZIP code.
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The short answer: No, according to a JPMorgan study. Sharp housing price corrections are rare, they say, even after a large run-up in home prices.
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Tesla Installs First Solar Roofs
The roofs were first announced last October, with online orders beginning in May. The carmaker’s new solar roof tiles are made to resemble regular roofing.
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Homeownership Rate Rebounds from 50-Year Low
Good news for Real Estate… The U.S. homeownership rate may have finally bottomed out, as the share of Americans who own homes is steadily climbing.
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Florida Consumer Confidence Rises 1.5 Points in July
Consumer sentiment among Floridians hit its second-highest level since 2002. Of the five components that make up the index, three increased and two decreased.

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What’s Up With Housing?

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The bill working its way through Congress has “significant improvements,” including a commitment to protect current owners from substantial rate increases.
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For the sixth consecutive month, May home prices venture into record territory.
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The CFPB recently loosened rules, and agents now have easier access to the closing disclosure providing certain private information is removed. However now, as before, the lenders decide how to handle it.
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According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.
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For the second time in six weeks, a company connected to the same lawyer stood poised to profit from a Pinellas County foreclosure auction that confused even experienced real estate investors.
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It’s cheaper to rent than own a home in 11 states, but Florida’s average monthly rent, $1,543, is still higher than the cost of an average monthly mortgage: $1,376.


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What’s Up With Housing?

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The latest County numbers are in for June and they show that the market continues to hold strong, including the highest Closed Sales figure for the Single Family Homes segment since at least 2009.
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Instead of dormitory-style buildings, flexible mass-produced housing pods might offer a way to sidestep zoning code barriers and get people off the streets.
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What do Americans click most on home remodeling websites? Currently, they’re drawn to modern, high-end finishes, spa-like bathrooms and chic industrial features.
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Once in the top five nationally for foreclosure filings, the Tampa Bay area no longer makes even the top 25.
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Lower Mortgage RatesMortgage rates drop below 4%.
After two weeks of increases that took the 30-year fixed-rate mortgage to 4.03%, it dropped back this week to an average 3.96%.
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Branding With Your Name in Real Estate? Come On, You Can Do Better

Brand Building

Successful branding let’s your consumer know what you do in a memorable way.

by Bernice Ross
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Key Takeaway:  Branding with your name is a blunder because most people won’t remember it. It’s better to let people know what you do.
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Effective branding is at the heart of virtually every successful business, yet it is a rarity in the real estate industry. If you’re branding your business with your name, it may be time to take a different tack.

Over my 30-plus years in the industry, I’ve been affiliated with several of the major brands in the business.

The standing joke in Coldwell Banker is that people often think that they’re in the banking business. At Century 21, a common question is “Are you the people who have the great deals on car insurance?”

And by the way, exactly what does Re/Max and ERA stand for? (Real Estate Maximums and Electronic Realty Associates.)

Effective vs. ineffective branding

The challenge in each of these examples is that the branding doesn’t meet the three simple criteria for having an effective brand. An effective brand does each of the following:

  1. It’s memorable
  2. It immediately brings the product being sold to mind.
  3. It identifies a specific target market.

Here are three examples of effective branding from outside of real estate that are easy to recognize:

The ‘Uncola’

7Up’s tagline, the “Uncola,” is easy to remember and specifically targets people who want something other than a Coke or a Pepsi.

‘The ultimate driving machine’

You may not know what the letters BMW stand for, but its branding has stood the test of time. The reason? The tagline tells what its product does — it gives you the “ultimate” driving experience. Referencing what the product does is much more effective than branding with only a name.

Netflix

This is a superb example of strong branding — one word that says exactly what the product does: provides “flicks” (movies) on the “net.”

In terms of real estate brands, the one that best fits the criteria above is relatively new — NextHome. This brand describes exactly what it does in a single word: find your next home.

The least effective brand in the business: Your name

In contrast, the most common type of branding in the real estate industry is based on people’s names. This is the least effective approach to branding because virtually everyone has difficulty remembering names.

The reason is that every day you are constantly bombarded with names of people you meet, names in the news, plus thousands of product and place names. The reason you have trouble recalling names is due to “interference.”

To illustrate how interference works, you can probably easily remember what you had for dinner last night. On the other hand, it’s highly unlikely that you remember what you had for dinner a year ago.

The reason is you have had 365 dinners since then. The memory of all these other dinners “interferes” with the memory that you are attempting to recall.

Complicating the situation even further, even if the customer remembers your name when they do meet you, memory research shows that we forget 70 percent of what we have learned within the first 24 hours after learning has taken place.

People remember functions, not names

If you were to meet me at a social event, and I introduced myself as Bernice Ross of ABC Realty, chances are you will remember the “blond lady who sells real estate,” but you won’t remember my name.

Furthermore, if you work for a brokerage such as Coldwell Banker or Keller Williams that use two names in their branding, the consumer is more likely to remember the brokerage brand because they see it on every just listed card, for sale sign, business card, newspaper ad and web page that the companies’ agents send out.

How to create a memorable brand

To establish a memorable brand, make sure that you reference “homes,” “real estate” or “properties” as well as niche or a specific geographical area that you serve.

For example:

  • Phoenix Probate Real Estate Specialists
  • Westlake Waterfront Properties
  • Richmond Historical Homes by Sally Agent

Sample URLs could be www.WestlakeWaterfrontProperties.com or RichmondHistoricalHomes.com. If the URL is not available, choose a different brand.

Be sure that the URL you choose references both your geographical location as well as your specific niche.

Branding is the most effective when you use the brand on all of your marketing materials. Consequently, your website, your cards and each advertising piece you send out should contain the same branding.

(Some real estate regulators have started to crack down on the wording that can be used in individual agent and team branding, so check the law in your state before proceeding).

The good news about owning your own brand

If your company is purchased or goes out of business or if you decide to change brokerages, having your own brand allows you continue to market without losing momentum.

In contrast, if you are relying solely on your company’s branding, you would have to start your branding efforts all over — this translates into lost income.

Remember, the key to successful branding is to let your consumer know what you do, where you do it and who you do it with!

Bernice Ross, CEO of RealEstateCoach.com, is a national speaker, author and trainer with over 1,000 published articles and two best-selling real estate books. Learn about her training programs at www.RealEstateCoach.com/AgentTraining and www.RealEstateCoach.com/newagent.

via Inman News

 

 


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What’s Up With Housing?

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Zillow maintains that more than half the homes it lists sell within five percent of the home value “Zestimates” it gives for them. The Tampa Bay Times looked at 20 houses for sale on both sides of bay to see if that held up.
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People tend to be too optimistic about rental rates, vacancies, management fees, maintenance costs and home value increases.
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With so many generations to serve in Florida’s increasingly attractive housing market, how can developers be sure their product supply will appeal to their target audience?
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The federal consumer bureau says it’s okay for lenders to share buyers’ Closing Disclosure with agents, and it’s announcing soon the how-to-do-it details.
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Report: The number of homeowners (about 1.8M) who still owe more on a mortgage than their home’s current value has hit its lowest point since 2006.