There’s always something to howl about.

Author: Greg Swann (page 114 of 209)

Suburban Phoenix Real Estate Broker

What do you do about a $3 billion dollar foreclosure? You can take it in stride — or you can squish it like a bug

Foreclosure is normally not a topic for amusement, but the Las Vegas real estate scene is like a brand new Hasbro game show, Monopoly.TV.

The news:

The developer of the $3 billion Cosmopolitan Resort & Casino says its lender, Deutsche Bank, filed a notice of foreclosure on the property for a construction loan of $760 million that just matured.

Developer and owner Ian Bruce Eichner says in a statement that his company is working with Deutsche Bank and Merrill Lynch to find new investors.

Eichner tells The Associated Press in the statement that, “This action by our lender comes as no surprise.”

He blames challenges in the real estate and capital markets for difficulty in raising capital for the project, which is now under construction.

The project: The Cosmopolitan is being built to wrap around the old Jockey Club time-share on the strip. The owners were able to make the deal by revitalizing the Jockey Club towers and connecting them with a new parking garage. It’s an interesting plan, because the only artifact of humankind likely to outlast the cockroaches is fractional-ownership real estate.

The prologue from the past:

The Cosmopolitan isn’t the first local hotel-casino project to run into problems because of the current economic climate.

“We have seen selected projects fail to move forward that had previously announced plans with the current credit crunch and the tightened lending requirements,” Las Vegas-based Applied Analysis principal Brian Gordon said. “Certainly, that has impacted many projects throughout the Las Vegas Valley, including resort and nonresort projects.”

Tight credit markets have been cited as the reason for postponing planned resort developments at the Tropicana, the Silverton and Southern Highlands Resort.

However, unlike the Cosmopolitan, which broke ground in October 2005, none of those projects had begun construction.

The most famous example of a stalled Strip project was the Stratosphere, which was conceived by casino operator Bob Stupak in the early 1990s.

Grand Casinos stepped in and finished the 1,149-foot tower hotel-casino project after Stupak ran into financial trouble that had stopped construction. Construction work was halted again in the mid-1990s, this time on a hotel room section, when the company went bankrupt. The development was eventually Read more

Tear down those prayer tents, y’all — the world has been saved

The National Association of Realtors brings forth — I kid you not — the Voices of Real Estate Blog. Surely you will not be surprised to discover which voices are and are not “of” Real Estate. But don’t get the idea that this is just your garden variety NAR happy-babble. Consider this:

NAR disclaims responsibility for any of the content or opinions expressed in the President’s Report, including, but not limited to content or opinions regarding any products or service mentioned on the President’s Report.

NAR disclaims liability for any damages or losses, direct or indirect, that may result from use of or reliance on information contained in the President’s Report.

The President’s Report contains links to other Web sites operated by third parties. These links are provided as a convenience to access the information contained therein. NAR has not reviewed all of the information on other sites and disclaims any responsibility for the content of any other sites or the products or services that may be offered on or through those sites. Inclusion of a link to another site does not indicated any endorsement or approval of the site or its content.

They were aiming for gutlessness, but the commitment was just too onerous…

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Cameron Swann builds weblogs: My son wants to drive, so he’s ready to go to work

Tomorrow there will be an interview with me published that will make a point to mention that BloodhoundBlog carries no advertising. So today seems like a good time to post our first ad.

My son Cameron is graduating from casual uses for money — fast food, CDs, movies, computer games — to more serious financial needs — like cars, car insurance, gas. We’re kinda happy about this, actually, because, even though internal resources are the best motivations, being hungry for money and the things it can buy will do in a pinch.

So: Cameron is finally interested in working reliably for money. He’s been doing great work for us, and we’re on the verge of rebuilding our automated web page/web site generator software so that other people can use it. This is wicked slick, and I encourage you to Watch This Space. When we’re done, we’ll have software that you can use to communicate with your clients in web pages or web sites, just as we do now.

In the mean time, though, Cameron wants to earn more money, and I want to help him. So if you scroll down the sidebar, you’ll see his ad, an offer to build a WordPress weblog from scratch and host it for a year for $500. He knows how to build a blog our way — he builds many of ours already — and I’ll be riding herd on him to make sure he delivers on his promises. I think he’s priced pretty aggressively — say so if you disagree.

We’ve never given Cameron money. He’s always had to earn his own funds. I don’t know that he’s all that financially astute even now. I don’t know that I am, either. But at 16 he’s a rockin’ web programmer who can build you a quality product. It will be interesting to see if he can build a good business from his skills.

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The Odysseus Medal: “What Zillow has done is build a business model designed to work from the ground up, a MySpace for your home…”

The Odysseus Medal this week goes to Kris Berg for Zillow news: Upside-down and dumb like a fox:

Transparency is not just a buzz word anymore but expected, even demanded, by the consumer. The consumer wants information, lots of it, and they want honesty and full-disclosure in its delivery.

In Zillow’s case, the consumer is both the real estate agent and the homeowner (which makes for one crazy-big target market), and Zillow needs two things to succeed. They need data, sales and “for-sale”, and they need eyeballs. You can’t have they latter without the former, but rather than build their reputation and their inventory by taking the more-traveled route, courting the big real estate brokerages, they have reached this point primarily by appealing to the individual agent. It is the individual agent who is online and socially connected – and blogging. Appealing to us makes us happy, which in turn inspires us to write nice things about Zillow.

And, instead of pushing the information to the customer, they have given them ownership. What Zillow has done is build a business model designed to work from the ground up, a MySpace for your home. Rather than cling to yesterday’s antiquated marketing practices wherein the customer was slapped silly with a message and expected to respond, they have recognized what so many are resisting. Zillow is recognizing and capitalizing on a new social culture. The conversation is no longer between the guy with something to sell and the guy who might be buying, top down, but between the buyers themselves, upside-down.

The Black Pearl Award this week goes to Krista Baker with Does Your Advertising Ask Prospects To Do Too Much?:

When you decided you may be interested in someone romantically, you don’t jump from first date to marriage. Instead, you take the time to get to know the other person – what are their likes and dislikes, strengths and weaknesses, goals and fears. If both of you value the relationship, you may consider taking the relationship a step further – to engagement and then marriage – but likely, several months (or years) have passed before the relationship progresses to this Read more

A Canadian magazine publisher instructs Loudoun County Tax Assessor Todd Kaufman — and all of us — on the American tradition of Freedom of the Press

As you may know, the Canadian Human Rights Commission accidentally read George Orwell’s 1984 backwards. In consequence, it has set itself the task of persecuting Canadian publishers for the crime of having published. Most notably, international gadfly Mark Steyn — along with Macleans magazine — has a date with the Star Chamber.

Ezra Levant, while serving as publisher of the Western Standard in Alberta, published the now-infamous Mohammed cartoons in his magazine. Two fundamentalist Islamists brought a complaint to the Human Right Commission, arguing that Levant’s act of publication was essentially a “hate crime.”

In these videos, you will see portions of Levant’s arguments before the Human Rights Commission — a stirring and passionate defense of the principles undergirding the idea of a free press.

Hannah Arendt taught us all about the banality of evil, and the seeming lack of affect in the functionary who presumes to judge the content of Levant’s character is chilling. But Loudoun County Tax Assessor Todd Kaufman is an exponent of the same sort of banal evil: In preference to disputing words with words, Todd Kaufman chose to try to force Danilo Bogdanovic to retract what he had published by threatening his livelihood.

If you truly don’t understand the principles involved, it were well for you to correct that deficiency before you find yourself in Mr. Levant’s place. He at least has the consolation of knowing why he is in the right.

Much, much more at EzraLevant.com.

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The Odysseus Medal competition — Voting for the People’s Choice Award is open

A total of 17 entries on the short list this week, out of a long list of 75 posts. Vote for the People’s Choice Award here. You can use the voting interface to see each nominated post, so comparison is easy.

Ahem: Please don’t spam all your friends to come and vote for you. First, what we’re interested in is what is popular among people who would have been voting anyway. And second, I’ll eliminate you for cheating. Don’t say you weren’t warned.

Voting runs through to 12 Noon MST Monday. I’ll announce the winners of this week’s awards soon thereafter.

Here is this week’s short-list of Odysseus Medal nominees:

< ?PHP $AltEntries = array ( "Andy Kaufman -- Cross the Digital Divide Quit Hiding Behind that Computer & Cross the Digital Divide”,
“Brian Brady — Buying Countrywide
Buying Countrywide: Why Bank of America is the WRONG Buyer“,
“Dan Green — Loan Officer Attrition Homeowners With \”Orphaned Mortgages\” Pay More Money“,
“Dan Melson — Expert Consultants The Future of Real Estate Agency: Expert Consultants, Not Market Access“,
“Doug Quance — Zillow/NCI Finally – I Have Something To Blog About Zillow“,
“Geno Petro — The Blue Stained Dress The Blue Stained Dress“,
“Jillayne Schlicke — The Future of Countrywide The Future of Countrywide“,
“Jim Cronin — Strong Finish How A Strong Finish Has A Real Estate Blog Article Generating Leads“,
“Joel Burslem — Neighborhood Video Producing a Kick Ass Neighborhood Profile Video“,
“Kris Berg — Dumb like a fox Zillow news: Upside-down and dumb like a fox“,
“Krista Baker — Advertising Demands Does Your Advertising Ask Prospects To Do Too Much?“,
“Mike Mueller — It’s Humans that matter It doesn’t matter“,
“Morgan Brown — Our Conundrum Mortgage Interest Rates and Our Conundrum“,
“Paul Chaney — Data Portability Robert Scoble, data portability’s accidental hero“,
“Robbie Paplin — Trulia-nator Dear Zillow-meisters – Better start makin’ copies of the Trulia-nator“,
“Todd Carpenter — Countrywide Wholesale Will BOA cut Countrywide Wholesale? Good riddance.“,
“Tom Royce — Fear and Loathing Fear and Loathing in Business Media (Retail Real Estate Edition)“,
);
shuffle($AltEntries);

$radioGroup = “”;
$num = count($AltEntries);
for ($i=0; $i< $num; $i++) { $pieces = explode("\t", $AltEntries[$i]); $radioGroup .= "

  • “;
    $radioGroup .= “$pieces[0], “;
    $radioGroup .= “$pieces[1]”;
    }

    echo (“

      $radioGroup

    “)
    ?>

    Deadline for next week’s competition is Sunday at 12 Noon MST. You can nominate your own weblog entry or any post you admire here.

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  • A Saturday night toy: Your file server as a linked hierarchy

    I owe more “Speaking in tongues” stuff, but I think I may have bored everyone to tears. This, by pointed contrast, is purely for fun.

    Copy this code:

    <?PHP
    $thepath = $_SERVER['SERVER_NAME'];
    $dir = '*';
    if ($Bfolder) $dir = "$Bfolder/*";
    
    foreach (glob($dir, GLOB_ONLYDIR) as $filename)
       {
       if (!$Bfolder) echo ("<BR>");
       ?>
       <a href="<?PHP echo($filename); 
       ?>" target="_blank">
       <?PHP echo($filename); ?></a><BR>
       <?PHP
       $URL = urlencode($filename);
       include ("http://$thepath/windex.php?Bfolder=$URL");
       }
    ?>

    and paste it into a text file.

    Save the file with the name “windex.php”.

    FTP it into the top level of your file server.

    Then go here:

    http://MyServer.com/windex.php

    substituting the name of your server for “MyServer”, of course.

    What are you seeing? The entire directory tree of your file server expressed as links. Each sub-hierarchy of folders is visually separated by a space, just to make things pretty. Each one of those links will work, opening into a web page if the folder contains an HTML “index” file, or to a Unix like directory representation if not.

    Just a toy, just for fun. I’d explain it to you, but then you’d have to kill me.

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    Two-thirds of BloodhoundBlog’s pages were spidered and indexed this week — 1,900 pages in seven days

    Wanna see something cool?

    Google indexes 2,850 pages for BloodhoundBlog. Out of those, 1,900 have been spidered and reindexed since last Saturday, when I added the scrolling panel of Odysseus Medal long-list nominees.

    That’s two-thirds of everything spidered and reindexed in a span of seven days.

    That little scrolling box is already the best link blog in the RE.net, documenting every post of moment anyone thinks to nominate.

    I am not an SEO, and I am not even all that much in love with SEO as an audience-building strategy. But, even so, the structure of the thing — nearly-continuously varying content in what is pure HTML by the time a spider sees it — seems to be catnip to Google.

    I think I know why this is happening, and I’ll know more soon. But in advance of certainty, I built a similar list for BloodhoundRealty.com, a scrolling catalog of my Arizona Republic columns.

    I’m keeping those in date-order, so the list will only update once a week. But, obviously, that site gets spidered a lot less frequently, anyway.

    As an interlinear note, if you are linked from BloodhoundBlog, your links were spidered a bunch of times this week.

    If you write for BloodhoundBlog, your links were spidered a minimum of 3,800 times. Doesn’t mean the linked pages or sites were also spidered, necessarily, but it can’t hurt.

    Here’s my thinking:

    First, you should put the scrolling list of Odysseus Medal long-list nominees in your sidebar. It’s well-behaved and non-intrusive, fitting neatly into your design scheme. It’s a nice list of very good reading, updated frequently. It’s link-love back to the authors of the nominated posts. And, for now at least, it’s a potent search engine attractant.

    Here is the code to paste into your sidebar:

    <?php
    include ("https://bloodhoundrealty.com/BloodhoundBlog/TheLongList.php");
    ?>

    Second, Cameron will build you something like this, if you want it. For example, you could have a randomized scrolling list of your flagship posts, the content you want to make sure your readers see. That would deep-link back into your own weblog, so it would benefit your audience now, and it should help your search engine performance over the long haul. Let me know if you’re Read more

    Seller financing can give you an edge over your competition in the Phoenix real estate market

    This is my column for this week from the Arizona Republic (permanent link):

     
    Seller financing can give you an edge over your competition in the Phoenix real estate market

    If you have significant equity in your home, you have a potent weapon at your disposal on resale.

    The big news this year is likely to be more and more stories of people with little or no equity trying to get their homes sold. Values for an average suburban Phoenix home were down 14.66% year-over-year. That doesn’t sound too bad, but prices were down almost six percent just in December. We’re down 24% from the peak in December of 2005, on average.

    But here’s the silver lining: If you bought that average home in December of 2003, and if you resisted the impulse to refinance your loan, you’re still up over 40% from your purchase price.

    That equity gives you a source of leverage on resale that you might not have considered.

    First, as always, for your home to sell it must be priced right, prepared right and presented right to the marketplace. You can’t do any kind of elaborate negotiations if buyers don’t even see your house.

    But because you have equity in the home, you have the ability to help a willing buyer navigate the suddenly-more-perilous shoals of the lending process.

    Suppose your buyer has five percent for a down payment, but the lender is willing to make a much more attractive deal for ten percent down. If the lender is willing to accept the arrangement, you can offer to carry back a note for the extra five percent, using part of your equity as seller financing.

    You’ll be taking a second or third position in the line of creditors, should the buyer default — and it’s always possible that you will lose every cent you are lending. But given the direction of the market, you could be a lot better off risking five percent now, rather than accepting ten percent less a few months from now.

    As with everything, read the fine print, ideally in the company of your accountant. But seller financing is one more weapon you can Read more

    Want to get more done in the world of Social Media Marketing? Repurpose your content!

    Like this:

    1. I had sweet fanmail from a would-be man of letters who had found some of my more writerly writing and wanted to tap my mojo. I wrote what I thought was good advice to him — briefly, both because that’s the soul of wit and because I am perpetually short on time. (Note the equation of haste with perpetuity. You can’t learn this stuff in a correspondence course.)
    2. ProBlogger Darren Rowse is hosting a competition to see if people can write good blogging advice in Twitter-length posts. So I cut my writing advice down to 140 characters on the nose and posted an entry.
    3. Yesterday at his Conversation Media and Marketing weblog, Paul Chaney wondered how webloggers produce content that is “Well-written, insightful, practical, providing value to the reader.”
    4. Finally, every day brings news that someone new is following me on Twitter, even though I’ve posted perhaps six times on Twitter since it was introduced at South-by-Southwest almost a year ago.

    Ergo, in one fell swoop — for my young fan who would be better off writing than reading, for the ProBlogger hordes, for Paul Chaney and for the Twitterpated — four birds with one stone:

    Writers write. You’ll get better by writing, not by doubting yourself. We all miss perfection. It’s the aiming for it that makes us better.

    It only looks easy…

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    Unchained melodies: Is that all there is?

    Lieber and Stoller wrote it, Randy Newman arranged it, Peggy Lee sang it with an affectless perfection. This cover by Bette Midler has its charms, but by trying to backspin the lyrics, she inadvertently shows how much better was Peggy Lee’s understanding of the material.

    Tune in Saturday. I’ll show you something cool.

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    Zillow.com cultivates its garden with ten million new database records, improved home valuation algorithms and the adoption, with Trulia.com and other Realty.bots, of a RETS-compatible listings standard

    First the news on horseback. We’ll come back and gloss it again, but you’re likely to learn more by listening to the podcast linked below with Zillow.com’s David Gibbons.

    The news, from Zillow’s press release:

    Real estate Web site Zillow.com today announced a major expansion and upgrade to its database of nearly all homes in the country — increasing data coverage from 70 million to 80 million U.S. homes in 48 states, or 88 percent of all homes in the country. Zestimate values are now available on three out of four U.S. homes, or 67 million, up 68 percent from when Zillow launched in 2006. New areas with Zestimates include the states of Alabama, Arkansas, Delaware, Iowa, Idaho, Indiana, Kansas, Kentucky, Louisiana, West Virginia and New Hampshire.  

    Zillow today also announced it has dramatically expanded and improved its Zestimate algorithm, incorporating 20 times the number of statistical models than before that factor in more local and home-type variables and now integrate homeowner-edited home facts — such as the number of bedrooms, bathrooms or square footage. More than one million homes have been claimed and updated by their owners to date, contributing to improved Zestimate accuracy on many of these homes. Incorporating these changes along with continued algorithm upgrades have resulted in a 12 percent improvement in Zestimate accuracy nationwide. Many larger metropolitan markets, such as the greater San Francisco, Miami, Los Angeles and Atlanta areas, have some of the most significant accuracy gains at 18 percent, 21 percent, 22 percent and 28 percent respectively.

    There’s more. This was leaked earlier this evening by TechCrunch.com:

    The other big news is that Zillow is joining Yahoo Real Estate, Trulia, Oodle, Homes.com, Realestate.com, Vast.com and others in adopting a standard way for brokers and multiple listings services (MLSs) to send in their real estate listings in a feed format. That way brokers can use the same data format for all the different real estate search engines and Websites. It is called the Real Estate Transaction Standard (RETS). That should make it easier for brokers to propagate their listings everywhere. [*See clarification from Zillow’s David Gibbons in the comments Read more

    It’s weblogging-advice day at Inman Connect, and Seth Godin is wired into the godhead, as usual

    Dumbing down:

    You’re under pressure to do that with your restaurant and your spiritual advice and your stump speech and your non-profit pitch. There are gatekeepers pushing you to dumb it down for the average.

    The thing is, when you dumb stuff down, you know what you get?

    Dumb customers.

    And (I’m generalizing here) dumb customers don’t spend as much, don’t talk as much, don’t blog as much, don’t vote as much and don’t evangelize as much. In other words, they’re the worst ones to end up with.

    I’ll take the smart customers/readers/prospects every time, please.

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    The Trulia Publisher Platform and the hypothetical elastic mind

    Trulia.com is releasing a new product offering this morning — or at least a new product skin. It is called Trulia Publisher Platform, and what it amounts to is customized branded hosting of Trulia’s real estate content on third-party publishers’ sites.

    For example, you can get your Trulia fix under the Village Voice brand, presumably at the web sites of the dozens of formerly-counter-culture newspapers owned by the Phoenix-based corporate behemoth. Even though the real estate content will be Trulia’s, and even though the Truliesque pages will be hosted by Trulia, the on-page branding will give the impression that you are still reading The Village Voice or The Phoenix New Times or whatever.

    Okayfine. I myself am so much in love with with power of the long tail in horizontal search that I am, with each passing day, less and less sanguine about vertical search tools. Geeks Google. Proto-geeks search on Craigslist. When the whole world looks like a nail, I’m less than ecstatic about trying to figure out which of the 27 specialized search blades on a Swiss Army Vertical Search Knife works most like a hammer. It turns out none of them do, where the Hammer of Google always delivers.

    But: Even so: The expectation seems to be that the webaholic who searches for homes he can’t afford in towns he doesn’t live in on PhoenixNewTimes.com is somehow not the same bleary-eyed gnome who would have quested after houses he won’t buy in places he’s never been on Trulia.com instead. Do you see? Why would anyone presume that spreading the Trulia love around comes to anything other than spreading it thinner?

    No one actually does make that presumption, of course. Instead, the math of free content is a math of infinities. No one in America knows any other American who is not already maxed out in every possible respect, but the hypothetical user of our proposed free-content web site is miraculously endowed with infinitely elastic spare time. Lucky bastard. Imaginary people have it so easy!

    In the long run, we will surely add new gnomes and gnomettes to the Web 2.0 world. But why Read more

    Steve Jobs and the fine art of managing expectations

    If the biggest trade show of your corporate calendar debuts one week from today, when, precisely, would you introduce an insanely great new desktop tower and an insanely great new workgroup server?

    The video is funny, funnier still because Bill Gates laid an egg at CES, but think what Apple must have in store for us next Tuesday, if they could blow off two killer new products as if they were nothing.

    Speculation is rife, of course, but I think we may be in for something no has anticipated.

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