Monthly Archives: September 2005

Homebuying plans plunge, are housing prices next?

UmichsurveyStunning new finding today.  According to the University of Michigan’s monthly Survey of Consumers, consumer confidence dropped to it’s lowest point in 12 years, pulling homebuying plans to their lowest point in a decade.  According to Inman News, "The decline in home-buying plans was due to an
increasingly negative reaction to high home prices, as consumers expressed in
September the least favorable assessment in nearly a quarter century." 

How did the housing market go from record high real estate searches on Boston.com in March of 2005 — seven million page views generated by one million homes for sale searches — to no-shows at suburban open houses, and now this news? 

Posted in Market trends, Real Estate Bubble

Should FSBOs underprice or overprice market?

Several weeks ago, a leading listing agent on Cape Cod in Massachusetts told the Wall Street Journal that sellers should underprice the market by 5% because of hurricane Katrina and an increasing inventory of unsold homes.  Then two weeks later, an article in the Boston Globe’s "Big Move" told people trying seller their own home to overprice the market by 5% to 10%.  So, in less than one month, sellers have been given advice that could translate into a pricing gap of 15%.  More important than pricing strategies is the sellers’ net profit.  A seller who underprices the market by 5% could actually net 10% less profit on their sale after paying traditional real estate commissions, right?  Anyone can discount your property, so why involve a full-fee, full-service real estate agent at all?

We’d like to hear your opinion about pricing strategies, particularly if you are thinking of selling "for sale by owner."  Just click on "Comments" below and begin typing, or call 617-876-2117 to record a 1 to 3 minute sound bite (which we may use in a future podcast).

Listen to conversation starter:  Should FSBOs underprice or overprice market? (MP4, 2 minutes, 1.9M)
Date Recorded: 29 September 2005


Subject: 
Discussion about conflicting advice on pricing strategies given recently by industry experts in the Wall Street Journal and Boston Globe
Featuring: Bill Wendel (Real Estate Cafe) speaking with anonymous buyer agents in Massachusetts

Location: Massachusetts Association of Realtors, annual convention @ DCU Center, Worcester, MA

Posted in FSBO: Best Practices, FSBO: For Sale By Owner, Podcasts, Real Estate Bubble

Learn how to do Track-backs

Buyers run the full spectrum from delegation buyers, who WANT a professional shopper to do the work, to a web-savvy generation of do-it-yourself buyers who don’t even want agents to accompany them to private showings.  In their eagerness to make the process more efficient, DIY buyers should be careful not to inadvertently reward the listing agent with a two-sides commission by going directly to them.  The industry is changing and an increasing diverse full menu of options and menu of fees exist for buyers and sellers.  If you want to be rewarded for doing some of the work yourself, find a fee-for-service real estate consultant, like our company, The Real Estate Cafe, that offers rebates to buyers. 

On the otherhand, if you are interested in one of the homes listed by ListforLess.com, or other listing entry only services that allow you to save money by working directly to the seller, we’d be glad to provide limited advise on an hourly fee outside the sales price.

Pat, if this sounds like shameless self-promotion, please feel free to delete this post.

Posted in Do-it-yourself

Expired listings: Leading indicator of real estate bubble

Expired_shot2005_2Click on graph for larger view (you may need to turn off your pop-up blocker.)

Posted in Real Estate Bubble

TechKnowOverload Tour

Posted in Uncategorized

A weblog Article with plenty of links

Blogpressure1_2For the past 50 days, The Real Estate Cafe has been living it’s own
case study, trying to find out whether blogging really influences how
many people visit our site.  Yes, during our mini-sabbatical, we’ve been
working on some exciting things behind the scenes and collecting lots
of audio files for a podcast.  And yes, we were interviewed by the
Center for Realtor Technology (even though we are NOT Realtors) for
their report on blogging in real estate which was released today.
But most importantly, we participated in
RadioOpenSource.org‘s program on "The Beginning of the End of the Real
Estate Bubble
," and two clips from our real estate bubble audio time
capsule
were played on the national broadcast (which was their first on XM
radio!  Exciting!)

Truth be told, we have also been suffering (at least tongue in cheek)
from "Bloggers Depression."  But after reading this remarkable publication, complete with reassuring
illustrations like the one above, it’s a relief to know we are not
alone and that we no longer need to suffer in silence!

Posted in Real Estate Blogs: Best Practices

Home in 8D


For anyone wondering what this subject has to do with real estate, the open
ended nature of blogs is a good place to explore the home in all of it’s
dimensions — inner home, outer home, financial home, digital home, spiritual
home, eternal home, and in this case the global home — not just the outer
home where real estate agents spend most of their time.   

To see what a down home act of courage looks like in Crawford, TX, visit
this blog and be sure to watch some of the moving video reports from Camp
Casey:

Posted in Uncategorized

Photo thumbnails in RSS

This news update made me wonder how long it will be before real estate sites begin sending photos of listings via RSS:

NEW: Photo thumbnails in Yahoo! News’ RSS feeds! We’re now offering thumbnails of related photos for stories in our RSS feeds, giving you an even richer news experience. (Note: your RSS reader may not support the viewing of thumbnails.)

http://news.yahoo.com/rss

Posted in Real Estate Blogs: Best Practices

Recovery2.0

Find link to interview with Blog guru re: REcovery2.0.  Brilliant insights re: online collaboration as government by the people. 

: On the Media -September 9, 2005.

Posted in Uncategorized

Make a CASTLE Bed for your Child! – Photos – Craft Projects

Posted in Uncategorized
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