Category: Real Estate (page 145 of 266)
I was on Fox Business Network yesterday bitching about all the ways the U.S. government has interfered with the residential real estate market, resulting in both our recent boom and our current bust. The topic itself is not new to me, but it’s not something I’ve addressed in a full-blown philosophical argument. Surely that would be Quixotic, but when did that ever stop me? But: I’ve been very busy, and I’m about to get a whole lot busier. So last night I set that idea and everything else aside to bake some Christmas cookies. It was fun, it made the house smell good, and it actually brought Cameron out of his cave for a while. As soon as I can clear the decks today, I think I’m going to make fudge. Here’s the thing, and I have to remind myself every year: It’s Christmas. I don’t ever not work, but there ought to be room for play in the working day — at least some working days.
Meanwhile, here’s a bunch of stuff I might-could be dealing with, but ain’t:
Kelman had a post on all the crap he was force-fed prior to going on TV. I’m not picking on the man (for a change), this is a segue: I think we’re fools to buy into that crap. First, the mainstream media, to the extent that it clings to its creepy Vaudeville past, is the enemy of truth. Second, weblogging is the best friend the truth has made so far. The conclusion that I draw from these premises is that, even when we are on their turf, we should still behave our way. I hate everything phony, but even allowing for that, I think we damage our own credibility by playing their game their way. There’s no shortage of commercials on TV, but there’s damn little authenticity.
Zillow had a software release this week. How important was it? Important enough to be released eight days before Christmas, when no one is paying attention. What it amounts to, as far as I can discern from the effusive PR-speak in the press release, is smarter routines Read more
The words Search Engine Optimization have been taken to mean everything from “Trickery to get to the top of Google” (untrue and unfair in my opinion) to “Giving Google’s algo what it wants.” (true, but incomplete IMO). It is high time we unchain the term “Optimization.” Time to turn this Optimization dog loose and let him hunt! That’s what he was born and bred to do.
Take a listen to this radio show podcast from one of the Big Dogs on MY porch. (Scroll down to her radio show podcast.) It will be 18 minutes WELL spent. Stephanie Mattingly OPTIMIZES on You Tube and uses that exposure to sell houses for her clients. She also participates in our Blogging Lunches and is starting to work on OPTIMIZING her blog search engine wise as well. I am proud to know her and glad to have her as one of the 120 stellar folks at our office. This is her first full year in the business (as an agent) and make sure to catch how her sales have gone…. Unchained optimization works.
True optimization (Optimization Unchained) involves ALL of the following:
1. Search Engine Optimization–Getting the most from the search engines by giving their algorithms what they want –(looking back at Greg’s recent post–this is the part I agree with Bob Wilson’s comment on) and MORE IMPORTANTLY (looking back at the same post–the part I agree with Seth Godin on..) taking the time to give them the optimized RELEVANCE that they are after so that it is a long term win / win — not short term getting over on them and then them penalizing me. It is a noble profession and I tire of people talking it down and saying that it is less than that. They simply are ignorant or have dealt with unscrupulous people. True professionals in MY profession Optimize.
2. Optimizing Hyperlocal blogging efforts to TRULY connect agents with people and people with agents. We currently have 15 hyperlocal blogs in our office (as part of our blogging lunch group) and if I have my way in 2008 that will be 115. You Read more
First off, I am feeling a little guilty for not being able to keep up with Greg’s writing production, or Geno’s proclivity for the English language (I am, but a young “padawan” in master Yoda’s presence). That being said, we all have bills to pay and I have been painfully buried in required due diligence that a new listing demands in the midst of the end of the year holiday rush. I know I’m considered the commercial specialist in this forum and may have not been pulling my weight around here as far as my production is concerned, but it has become apparent (at least to me) that the recent slowdown in housing shall inevitably be felt by those businesses (and properties associated with those businesses) most closely tied to the residential markets, especially in the hardest hit residential areas, as referenced in today’s “town hall meeting” with Treasury Secretary Paulson and the Governator in Sacramento:
At a town hall-style event in Van Buskirk Community Center here, Paulson and Gov. Arnold Schwarzenegger spent more than an hour listening as local officials, loan counselors, community members and borrowers described the troubles they were having getting help from their lenders.
“Unfortunately, there (are) all too many stories like yours in the country,” Paulson told one borrower who said she could no longer refinance her home and would almost certainly lose it. “This is why we’re trying to find solutions.”
What most of us know (but secretly sweep under the rugs in of our minds) is that there is a “spill over” effect from residential to commercial that we hope doesn’t affect our own checking accounts. We’re use to hearing the obvious verification of current events:
That plan came just weeks after Schwarzenegger announced a similar agreement with four lenders he said represented 25 percent of California’s subprime loans. On Tuesday, the governor said three more lenders have joined the voluntary pact, covering about one-third of the state’s most troubled loans.
California is home to the nation’s largest numbers of foreclosures – more than 52,000 so far this year, according to DataQuick.
Paulson promised to investigate the claim of Read more
Dear Real Estate Investor:
Times are tough. Did you think sooner or later they wouldn’t be? Is that why you’re spinning yer wheels searching for the perfect property in the A+ location, priced under the market?
Are ya leaving milk and cookies on the table for Santa next Monday too?
Take a minute and breathe deeply the gathering… Oops, sorry, had a 70’s flashback. Let’s start again.
We’ve all seen investors who’ve been fairly successful. Ever found one with a portfolio acquired only in boom times? Silly question isn’t it? When did they buy, making their biggest long term hits? Wait for it — here it comes — in the down times.
Next, ask them how many perfect properties they own in the best locations possible. The answer to that question, after they stop chuckling, is a big fat zero, zip, nada.
Besides, if you actually found that property, you couldn’t afford it anyway. 🙂
Invest in properties in solid growth areas, where jobs are plentiful and the other fundamentals are in place and for real. Buy them when the times are tough — hey! that’s now. Make sure you can use reasonable leverage with old fashioned loans. Demand they break even or better before tax, and cash flow easily after tax.
Don’t insist on staying local, as your market probably sucks more than a new Dyson. You already know that though, right? So what’s the problem? You think you’re better off being able to drive by your property? Do you wanna drive by mediocre or occasionally fly to excellent and stellar? Is the decision really that difficult?
If this doesn’t come across as written by Captain Obvious — read it again. The differences between highly successful real estate investors and the rest of the crowd makes for a long list. The two biggest differences providing the most profitable impact?
Successful investors don’t need perfect properties — and they buy in buyers’ markets whenever possible, as much as possible.
This isn’t from the third tablet Moses lost on the way down the mountain that day so long ago. Buying in a buyers’ market isn’t a genius Read more
Seth Godin has a new ebook, yours for free. What’s the catch? Getting the value out of it is going to take work.
There’s an enormous amount of superstition about what makes some pages rank high while others languish. When you look at the actual figures, though, much of that fades away.
It turns out that the new playing field enforced by the search engines is eliminating many of the shortcuts that used to be effective. In other words, the best way is the long way.
The long way is to create content that is updated, unique and useful. Again and again we see that sites that do all three manage to get more than their fair share of traffic. So, I guess the title of the ebook is a bit misleading. The clicks don’t cost money, but they do take effort. That’s good news for people who have more talent than cash.
Technorati Tags: blogging, real estate, real estate marketing, technology
Okay, it’s my turn.
I generally leave the loftier industry fodder for other, more qualified (if not more committed), real estate bloggers to cull over. I commend visionaries like Greg Swann for single handedly forcing readers across the R.E. Web (okay, me) to look up such words as disintermediation, Quixotism (just making sure), and even Odysseus, although the latter was only because Dan Green told me he thought it was Latin and I was pretty sure it was Greek. At age 51.5 (I know, I know…I don’t look it) and deteriorating, I think I’m just growing tired of thinking, these days.
There are enough talented writers in this medium, I believe, to address all the cutting edge commentary leaving me free to throw lawn darts and lob softballs at all the easy targets, usually people who didn’t buy a house from me. But something Kris Berg wrote about recently got me up off my rocking chair to go searchin’ for my literary shotgun…as it were. I think I’m gonna hunt me some Redfin…if there are any left.
This oddly named varmint (or is it a fish?) is not indigenous to these here parts of Chicago but I do know one thing—I don’t think I like the taste of it. I hear it smells a little gamey, and the presentation is…well, a little like a wolf in sheeps’s clothing for my liking. But most of you already know this. You’ve blogged it onto the endangered (if not protected) species list from what I’ve read. And like I said, I ain’t really seen one up close … just yet.
I have, however, perused everything I could find posted on the company, archived and otherwise; essays, interviews, comments–Ahh, the comments and the commentors of the Blogosphere. Talk Radio doesn’t even hold a candle. It was Redfin’s implied (cleverly discoursed in the second person–‘Uncle Sam Wants YOU!’) mission statement though, that forced me to finally weigh in on the subject, placing reasonable restraint of tongue and pen aside for now.
(sic)
Redfin is an online real estate brokerage that puts you
in charge of buying or selling your home:
- We combine listings direct from every broker with data on past sales & days on market.
- Our local agents guide you on price and negotiate the best deal.
- Our online tools make the paperwork easy.
You get results, not a sales pitch because our agents are paid on Read more
I am a total sucker for classic shitkicker music. What makes the songs of Leonard Cohen work, as an example, is that they’re so simple musically that there is all the room in the world for the lyric. We listen to a lot of complicated music, but the stuff I love the best isn’t really music at all, it’s literature, a thoroughly modern take on lyric poetry. If you read Horace or especially Catullus — without your high-brow horned-rims on — you’ll understand Tom Petty like never before.
Change of heart:
With Stevie Nicks, Insider:
Here comes my girl:
Technorati Tags: blogging, disintermediation, real estate, real estate marketing, technology
No, that’s not quite right. I actually can lecture on the importance of waxed fruit in the production of TV news, but that’s not why I’ll be on the Fox Business Network tomorrow sometime between 10 and 11 am MST.
I don’t think we get it here, but they’ll probably give me a DVD. If they do, I’ll post the video.
Technorati Tags: real estate, real estate marketing
This Texas trip has been both productive and instructive in so many ways on several levels. Sitting in a hotel room just a quick shuttle from Dallas’ Love Field, a dead pizza on the coffee table, I’ve been meditating on events of the last three days. I say meditating cuz that’s all I can do with the energy I have left.
The subject came up in a meeting earlier in the day — why some transactions fail. Specifically, why do some fail for reasons unrelated to either objective analysis, actual benefit or harm, or simply cuz one side, sometimes both, begin to care what the other guy’s getting? Though it used to make me crazy, these days I just watch to see how far some folks will go to ensure the other guy fails to get something he wants — as opposed to doing their level best ensuring he gets what he wants.
Here’s an example.
The buyer of a 4 unit property discovers through casual conversation, into what the seller is exchanging. The 4 unit seller is tax deferring his equity, a touch over $200,000, into 8 duplexes in another state. Because the seller’s broker gave the buyer’s agent info on those duplexes at his request, the buyer has also seen the info. No big deal you say?
It shouldn’t be.
The buyer though, sees it as something he’s never been able to accomplish. That guy is getting too much of the pie — or so reasons the buyer. Who really knows what generates this self destructive attitude?
How the hell can this guy take one little property and end up with almost $2 Million of brand new units? Who’d he hafta kill to make that happen?
So during the inspection period of their deal, Buyer decides he’s gonna stick it to Seller as much as he can. After all, he’s the one turning mud into gold, right? Why should he care about a few thousand bucks in unnecessary maintenance?
Buyer proceeds to pile it on, never forgetting how he’s only getting a lousy 4 units and this guy’s somehow secured Read more
Chris Thile and Bryan Sutton explore the idea of excellence in a 20+ minute improvisational tour de force:
Technorati Tags: blogging, disintermediation, real estate, real estate marketing, technology
I have a long-time investor client — he happens to be in town right now — who delivers his most effusive praise by exclaiming, “Outstanding!” I think this is a valuable exhortation of a valuable idea: It denotes appropriate enthusiasm for the most profound kind of excellence. When I selected the short list of Odysseus Medal nominations yesterday, I thought they were all very good. But when I looked them over this morning, there was nothing that made me want to shout, “Outstanding!” In consequence, I’m not awarding the Odysseus Medal this week. The posts are good, unassailably good, but nothing spoke to me of the sublime. Next week we’ll do better, I’m sure.
Gary Elwood wrote a post this week called The 3 Commandments of Online Marketing You Must Obey. I thought it was very good, but I think it was eclipsed by Bill Leider’s What Is A Brand?, winner of this week’s Black Pearl Award:
I believe your Brand is a widely held set of beliefs and expectations about what you deliver and how you deliver it. That applies whether you’re an individual or a multi-national organization. Your Brand is strengthened or weakened by every person in your organization and every function performed that directly or indirectly touches anyone. It embraces things like (and this is not an all-inclusive list):
- Name recognition
- Expectations held by the vast majority of people who will or might do business with you about what they can expect from you.
- The experience(s) that people have when they deal with you. Do those experiences exceed, meet or fall below their expectations.
- The consistency of many experiences.
- How you deal with people after the sale: customer service and how you solve problems.
- How and how well you maintain continuity of relationships with customers and potential customers.
- The perceived value received for the price paid.
Read both posts, though. They reinforce each other.
The People’s Choice Award this week goes to Chris McKeever for A [HAR]d Lesson:
We are in a period where listings are flying everywhere. You post a listing in one place, it appears on several others. Some you may not even realize you Read more
My Big Bang Theory is about science colliding with religion, and a lot of noise.
My strike has been temporarily suspended. I got the same advance notice that so many others did of the BIG NEWS this week, but press releases are rarely conveniently timed around my real estate business schedule, so I will chime in late and with benefit of time to contemplate.
Redfin’s latest BIG NEWS was of course about the Second Coming, the first having occurred on 60 Minutes long, long ago. From their blog:
We only worry that the name we’ve given this initiative, “The Real Estate Scientist,” will open us to being mocked. And too, we hesitated to give consumers simple answers due to the complexity of the underlying data… We strove for conclusive answers because we have houses to sell every week, and customers who need straightforward guidance.
I am not in the business of mocking, as you have a pretty solid corner on that market. And that is precisely my objection, my only objection, to your business model – that it is predicated and dependent on convincing a public that your “different” approach is enlightened and studied where mine is one of fly by the seat of my pants, tell the consumer what they want to hear, and hit the streets with nothing but an opinion and a smile.
It is indeed troubling to give simple answers when the data is so complex, but it is much more convenient I suppose. Delivering and interpreting data to support your ongoing argument that every other real estate agent since the beginning of time is too uninformed, addle minded, lazy, or greedy to achieve your level of enlightenment would be so exhausting. That darn science can be just so confusing. Better to just suggest as much, over and over again. Preach long and loud enough, and the congregation will surely take it on faith.
Consumers who have read early drafts of the report overwhelmingly found our recommendations useful and effective. The industry reaction will likely be different. Some will argue that the report substantiates already well-understood tactics, while others will take the exact opposite position, refuting our points Read more
I joined the Lake Grove Presbyterian Church choir about nine years ago. (Geno, chill. This is a story about excellence, not Bible Boy!) There was an interim director who led about twenty singers. The assumption of the director, and most of the elder hierarchy in a still dying denomination, was (is) that choirs and classical music are essentially passé, that contemporary music, a rock and roll praise band and ‘Jesus is my girlfriend’ anthems are necessary to put people in the pews. Armed with that assumption, the director aspired to mediocrity and almost succeeded; why put effort into something that’s dying?
I was on the search committee to find a permanent director. I had concerns about the person we picked – Wendy Bamonte, a wisp of a thirty-something with a terrific cv in instrumental music, but less so in choral. She was hired, but I took my concerns to the pastor anyway, who took them to Wendy, who called me and said: ‘Let’s talk.’ We did. It turned out she’s every bit as direct as I am, and out of that, um, lively discussion, developed a friendship that I’ve had with her and her husband since.
Wendy isn’t one who accepts conventional wisdom simply because it’s conventional. She had (has) a vision: provided excellence both in the choice of music and its preparation, choirs and classical music aren’t only not dead, but on the cutting edge of the future. No one believed it, of course, but it was nice to have someone passionate about something, as quaint as it seemed.
But she’s been driven from the first year eight years ago. Interested less in genre than in the excellence of the music, we’ve done everything from baroque to gospel. She’ll spend two weeks picking exactly the right music for a twelve week sermon series. She has the personality, drive and tact to get the most in the least amount of time out of unauditioned amateurs. Unlike those who protect themselves from anyone better, she brings in world-class directors for choral workshops. She’s very, very good at what she does, but still takes the time Read more
Lyle Lovett covers Townes Van Zandt on Flying shoes:
Mindy Smith covers Dolly Parton (with Dolly singing back-up!) on Jolene:
Gary Jules makes you forget all about Tears For Fears with his cover of Mad world:
Technorati Tags: blogging, disintermediation, real estate, real estate marketing, technology