By Erica Christoffer, Multimedia Web Producer, REALTOR® Magazine
Single-family home starts were at a 40-year-low in 2011, with just 429,000 homes built. That’s also a 75 percent decrease from a peak of 1.7 million starts in 2005.
But today’s new-home buyer may surprise you.
Let’s start by looking at a few builder and consumer statistics presented during the International Builders’ Show in Orlando Thursday.
The average start size increased from 2,381 square feet to 2,522 square feet and the average sales price rose from $264,900 to $274,400 in 2011.
New homes have more amenities, too. More houses built in 2011 had four or more bedrooms, three or more bathrooms, three-car garages, finished basements, patios, and two stories.
Is the buyer profile becoming clear?
“It’s sort of counterintuitive to what we’re hearing and reading about consumers,” said Rose Quint, assistant vice president of research with the National Association of Home Builders. “The answer is in who is able to buy.”
In the tightened lending environment, buyers have had to be a “superstar” qualifier, says Quint, with at least 20 percent down, a high credit score, well-documented income, and proof of established employment history. Continue reading »
By Erica Christoffer, Multimedia Web Producer, REALTOR® Magazine
Nobu Hata, sales associate with Edina Realty in Minneapolis, has a message for everyone who has their e-mail address in their e-mail signature: You’re not giving anyone added value.
Your correspondents are already going to know your e-mail address – either they contacted you or you contacted them. Try switching it out with something they can use, said Hata during the Joint Marketing & Member Information Services Forum at the Midyear Legislative Meetings & Trade Expo today in Washington, D.C. Link to your Web site, blog, and social networks, or, as Hata does, link to local market statistics your potential clients could use to educate themselves.
“Consumers like people who point them to good stuff,” said panelist Bill Lublin, CEO of Social Media Marketing Institute and Century 21 Advantage Gold in Philadelphia. Continue reading »
By Erica Christoffer, Multimedia Web Producer, REALTOR® Magazine
From beginners to pros, WordPress Camp had something to offer every blogger at the 2010 REALTORS® Conference & Expo Monday. Technology and marketing experts presented dual-track sessions for novice bloggers and advanced WordPress users.
Blogging has proven to be a valuable tool for real estate professionals to demonstrate industry and community knowledge, as well as express identity and brand. The sessions provided tips to help leverage the medium and connect with potential clients.
“WordPress is a perfect forum for real estate Web sites,” said presenter and co-WordPress Camp organizer Dustin Luther with 4realz. “There’s a lot of talk right now about marketing via social media. But we really wanted to focus on creating a great Web site.”
Presenter Steve Zehngut, from Zeek Interactive, honed in on integrating real estate tools on a WordPress blog.
When choosing a theme – or the overall design of your WordPress Web site – Zehngut recommended Woo Themes, which provides customizable Web designs for $70 to $200.
Zehngut also listed a few must-have plugins for a real estate WordPress site: Continue reading »
By Erica Christoffer, Contributing Editor, REALTOR® Magazine
In the world of architects, builders, and designers, the annual debut of the New American Home at the International Builders’ Show is an institution. For 27 years it has been the mainstay of the convention, the pinnacle for all things new, the height for which to reach – the cutting-edge, state-of-the-art, ultimate trend-setting home.
But this year there is no New American Home to tour at the show in Las Vegas. That’s because this year the realities of the economic climate have proven themselves heartbreaking once again.
The storm culminated with two blows against Adam Knecht, general manager of Domanico Custom Homes and builder of the 2010 New American Home. First, the original private financier dropped out in February 2009, just one month after construction began. Then, the tight lending environment made it impossible to secure adequate financing to finish the project. By October, construction was all together halted, followed by foreclosure in December. Thus, for the first time in the history of the program, the home was not completed in time for the show and proved to be a sign-of-the-times for the housing industry. Continue reading »
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