United Kingdom Market Hints At Turnaround

May 26, 2009

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Several recent positive signs indicate that the UK housing market may be moving into a recovery mode.

Mortgage Approvals

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In February, mortgage approvals rose by the biggest margin in three years, according to the Bank of England. Mortgage approvals rose again in March by 16 percent over February.

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UK house prices showed a surprise bounce in March as the nationwide house price index registered its first rise since October 2007.

New Buyer Inquiries

According to the RICS (Royal Institution of Chartered Surveyors) 2009 Housing Market Survey Igor movie download , new buyer inquiries rose for the fifth consecutive month and to their best level since September 2003. Moreover, there is now clear evidence that the higher level of buyer interest is resulting in actual sales.

House Sales and Inventory

Sales of housing inventory also inched up for the third consecutive month to its best level since August 2008. Meanwhile, the number of new listings of residential property continues to decline. As a result, the number of real estate listings has dropped to its lowest level since September 2007.

The combination of rising sales and fewer homes on the market pushed the sales to inventory ratio – a key indicator to the future price trend — higher for the third consecutive month.

These positive signs have led to improved confidence in both the sales and price outlook for the UK real estate market.

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Signs of Economic Stablilization Emerge

May 26, 2009

At their meeting in late April, G-7 finance chiefs predicted “weak economic recovery will start to take hold in coming months” and that “recent data suggest that the pace of decline in our economies has slowed, and some signs of stabilization are emerging.”

Some of the news that has boosted their expectations is the rebound in German business confidence, signs of recovery in China, and new home sales and stabilization of existing home sales in the United States.

In Germany, Bloomberg reports

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Shine a Light buy , interest rate cuts and government stimulus packages boosted expectations that the recession in Europe’s largest economy will ease later in 2009. Chancellor Angela Merkel’s coalition plans to spend about 82 billion Euros ($107 billion) to stimulate growth through such measures as tax breaks and investment in infrastructure. The plan also includes a 2,500-euro payment to people who scrap their old cars and buy new ones.

The International Monetary Fund forecasts China’s growth rate to be 6.5 percent, which is considered strong given the global context. China is expected to maintain relatively strong growth because its export sector makes up a smaller percentage of its economy compared with other countries, channelnewsasia.com reports. In comparison, the global economy is projected to decrease by 1.3 percent in 2009 due to the financial crisis.

In the U.S. market, new home sales were higher than expected, providing further evidence that the market may be stabilizing, Bloomberg reports. The combination of lower mortgage rates and tax credits for first-time homebuyers is likely to support sales in coming months.

In addition, even though existing home sales in the United States declined from February to March, the market appears to be stabilizing with modest monthly ups and downs, says Lawrence Yun, chief economist of the National Association of Realtors. First-time buyers are driving the market, which is critical to recovery.

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Re-Branding of GMAC Home Services

May 19, 2009

john-bearden1John Bearden, President and CEO of GMAC Home Services, is visiting Brokerages around the country.  Wayne Long caught up with him at Shepherd Brokers.com in Phenix City AL last week. 

Mr. Bearden is speaking to brokerages to get feed back about creating a new brand for the company.    GMAC Home Services has been purchased by Brookfield Asset Management Company (owner of Royal LePage) and now has the task of keeping the best parts of GMAC Home Services while at the same time creating a new brand that will be recognized worldwide.  

Mr. Bearden recognizes that the X and Y generations present new challenges to Realtors as they search for homes.   They search differently and ask different questions than other generations have.   The new brand will have to be prepared for the changing market place.  For this reason new technologies will be vital to the new brand and with this in mind the company is now comparing technologies that they want to pursue.

Another point delivered by Mr. Bearden is the continuing reduction in commission percentages.   He said that in 2001 commissions averaged 5.9% with a steady decline to 4.7% in 2009.   One of the challenges of re-branding the company is to be able to show clients the value of our services and how we earn our commissions. 

The new brand should launch in the fall of 2009 or by the 1st quarter of 2010.  Mr. Bearden said that they wanted to hurry to release all the new aspects but that they only have one chance to really get it right!

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Listing Syndication? Not for this Broker!

May 19, 2009

Curtis Reddehase, a real estate broker in Austin Texas recently wrote announcing his decision regarding Listing Syndication

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and why his brokerage will no longer be participating in that form of marketing.  Several reasons were cited, but the 2 main reasons boiled down to:

1.  He doesn’t want his listings to be utilized by the national sites, as a means of generating advertising revenue.  He goes on to explain that the national real estate listing aggregators take his listings, use that to drive up traffic to their website – and then sell that traffic to advertisers for profit.

2.  He has NEVER had a productive lead generated for as long as he has been participating in real estate listing syndication.

The use of real estate listing data, and determining what are the long term impacts of listing syndication, continue to be topics that are heating up and gaining momentum within the real estate industry.

Future questions that the real estate industry will have to deal with regarding this topic include:

Does listing syndication establish these national listing aggregator sites, or the local broker as the authority for the local real estate market?

If the national listing sites become established as the authority – what sort of fees will they start charging back to the local brokers?

Is it worth it in the short term to try to pick up a deal today by syndicating to these national aggregators?  Is it worth it in the long term?

These and many more questions need to be answered.  The real estate industry will have to continue to evolve to stay current with the ever changing technology that becomes available.

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RE/Max International Launches “Green” Initiative

May 18, 2009

With the whole world going green these days (which is a good thing I might add), RE/Max International Inc. has launched their own program designed to educate their sales force and customers on how to implement different ways of conserving energy, water, natural resources, and waste production.  Incubus film A Walk in the Sun rip

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According to the press release, the keystone of the new RE/Max Green initiative is a comprehensive training program where agents can get involved in classes designed to help them receive the National Association of Realtors new Green designation.  Agents who receive that designation can participate in RE/Max Green and use the plant logo.

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Participating means that agents will not only be able to educate homebuyers and sellers, but they will also benefit by being referred to customers who specifically request agents with one of the four Green designations.

We can all make a difference by becoming earth friendly, but it starts at the top.  The RE/Max headquarters in Denver was recently awarded the “Energy Star” award by the Environmental Protection Agency as being in the top 4% in the nation in efficiency.

Make a difference today. Learn about the NAR designation and don’t forget to recycle!

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NAR delays IDX decision

May 16, 2009

I’m certain that many of you are aware of the ongoing discussion regarding the MIBOR choice to determine that search engines be classifed as scrapers.

The vote by NAR to clarify that search engines are not to be classified as scrapers was to take place today.

However, at the request of the MIBOR representative, the board sent the decision back to the MLS committee.

This essentially means a delay of 6 months because the MLS committee will not be meeting again until November.

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Keller Williams encourages growth of agent production with coaching!

May 13, 2009

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Keller Williams Realty knows that its continued growth is dependent on the success of its agents.

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What better way to ensure that growth than to encourage and provide coaching opportunities to those agents that are having difficulty breaking through to the next level.

Through their MAPS Coaching and Masterminds program agents discover their “Big Why” and how to get to the productivity levels and life fulfillment that they seek.  It is as easy as punching in the numbers and breaking them down into what must be done on a daily basis to acheive those goals. When tasks get broken down to the daily level one quickly discovers that he can acheive lofty goals by committing three hours a day to “lead generation”.  Also, crucial to success is a systematized lead follow up system that keeps the agent on task.

Through the use of systems and tools agents rise to new heights of productivity, satisfaction, and accomplishment of life goals.  The coaching comes into play with getting on the right track, implementing the 80/20 rule for the agent, and getting the agent focused on the 20 percent that really matters in moving forward with accomplishment.  After discovering the 80 percent of activity that does not produce great returns but still needs to be accomplished the agent discovers ways to leverage himself so that he is focused on what really matters while the “static” gets handled by other means.

The Coach becomes not just a mentor, but an accountabilty partner that helps the individual shed light on where he is, where he wants to be, how to get there, and then holds you accountable to taking the necessary steps in changing behaviors that ultimately lead to excellence and rapid growth in both personal and professional life.

A great example of a Keller Williams office focused on the personal growth of its agents is Keller Williams Alabama Gulf Coast. They just implemented a program with Spencer Combs to provide free coaching to new agents and other agents in the office that are having difficulty reaching their potential.  A full 25% of the agents in the office have signed up for this coaching after hearing Spencer’s presentation in their Team Meeeting this week.

Agents interested in what Keller Williams MAPS Coaching has to offer may also want to visit  KWConnect Guest Pass for videos that explain our value proposition.  If you are an agent and would like a Team Leader to contact you about coaching, please send an e-mail inquiry to calcarter at gulfshoreslife.com .

This summary was posted by Cal Carter of Keller Williams Alabama Gulf Coast.  His team, The Gulfshoreslife.com Team specialize in working with buyers of Gulf Shores Condos King of the Hill dvdrip Fast Times at Ridgemont High dvdrip

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Video Gaining Popularity Among REALTORS for marketing.

May 13, 2009

REALTORS continue to search for tools that provide impact to potential buyers. One of the latest trends is REALTORS using videos of both properties and themselves to drum up business. Are they alone? It appears not.

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Google owned YoutTube actually overtook and passed Yahoo for number of searches. Aside from the obvious implications that come from Google now holding the first 2 spots in searcn sites, it says something about what users what. They appear to want video as well as plain search.

YouTube is a popular platform with REALTORS due to the exposure that they can receive from that alone.

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FHA to Allow 8,000 dollar tax credit to be used for down payment, closing costs

May 13, 2009

The Seattle Post Intelligencer posted yesterday evening

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that the FHA will allow the $8,000 tax credit (or advances against the tax credit) to be used for down payment and closing costs.

Although the details have not been totally released an are expected out of Washington by the end of the week, the desired effect of this move would be to provide buyers more incentive to buy and more of the means to purchase homes with less out of pocket expense.

More detail as they become available….

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Keller Williams presents This Month in Real Estate – May 11, 2009

May 13, 2009

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Keller Williams Realty has released the May 2009  installment of This Month in Real Estate.

This monthly series is hosted by Byron Ellington and Jay Papasan.  Jay coauthored the Millionaire Real Estate Agent book with Gary Keller and Dave Jenks of Keller Williams Realty International.  Viewers of this video will find timely information about what is going on in the current real estate market.

Click here for the This Month in Real Estate The Mad video video.

Highlights:

  • A pause in home price declines
  • Home prices lower by 12% from last year
  • Last Month home prices increased 4% from previous month
  • Recent data indicates over 52% of homes purchased were by first time home buyers
  • Home buyers are looking for a place to live, not a place to buy and sell

To find the Keller Williams office closest to you, visit www.kw.com

Agents interested in what Keller Williams has to offer may visit KWConnect Guest Pass for videos that explain our value proposition.  If you are an agent and would like a Team Leader to contact you, please send an e-mail inquiry to calcarter at gulfshoreslife.com .

This summary was posted by Cal Carter of Keller Williams Alabama Gulf Coast.  His team, The Gulfshoreslife.com Team specialize in working with buyers of Gulf Shores Condos The Baker divx Batman Returns release on the Alabama Gulf Coast.

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