Category Archives: Coldwell Banker

Baby Boomers and the Real Estate Market (infographic)

Posted on by
Reply

Via Coldwell Banker Blue Matter…

There are 79 million baby boomers, and this year, the oldest boomers turn 65. Their impact on the economy is enormous, so looking at the home buying trends of this group highlights interesting differences between older and younger boomers. A new survey from Coldwell Banker reveals that younger baby boomers are interested in purchasing a second home (34 percent) as compared to their older boomer counterparts (22 percent).

The infographic below represents data collected from a survey of Coldwell Banker real estate brokers and agents regarding Baby Boomer real estate trends. The findings are pretty interesting. Take a look.

Finding a Good Real Estate Agent

Posted on by
Reply

Coldwell Banker explains the importance of finding a good real estate agent:

Because of the impact it can have on the rest of the process, locating a good real estate agent is among the most important steps when planning a home transaction. Real estate agents can help home buyers determine their criteria for suitable properties, find potential homes in the right area and figure out which meet their needs. They can assist with negotiations from either side, and help home sellers figure out how to market and prepare their properties.

Not only can they improve the results of a home sale or purchase, but they can significantly reduce the amount of time needed to achieve positive results. That way, home buyers and sellers can close deals and progress to the rest of their lives.

All about agents

Agents may work exclusively with home buyers, exclusively with home sellers, or provide services to both. When evaluating them, people should keep in mind that surface factors, such as their resume and commission, do not tell the whole story. MSN Real Estate suggests home sellers should ask an agent how he or she thinks their home can be successfully marketed. Home buyers, on the other hand, should ensure their advisor understands what they are looking for.

Another question to ask is how much the agent knows about the area the home seller is in, or the home buyer wants to move to. Professionals may specialize in particular areas and neighborhoods, affording them the deepest understanding of the market. They may understand not only the general lifestyle of the area’s residents, but also specifics like transportation and income or education levels.

How an agent helps

According to Investopedia, a good agent is an effective liaison between home buyers and home sellers. Whichever side they represent in a given transaction, real estate agents understand the negotiating tactics and positions. They can also help home buyers and sellers alike prepare for sometimes-forgotten aspects of the process, such as the closing costs. Having a professional in the loop can keep communications between home sellers and buyers from becoming negative in a personal way, if, for example, the prospective buyer dislikes some characteristic of the home.

While the exact functions a real estate agent can perform vary somewhat between states, they can be a significant help when it is time to write contracts. Home purchase contracts may include conditions relating to financing or repairs, among other provisions. An agent can spot many problems in advance, before documents become official and binding.

Coldwell Banker Wins Not One but Two WebAwards

Posted on by
Reply

Coldwell Banker BlueScape Search

Via Coldwell Banker’s BlueMatter…

Ok, the award doesn’t exactly have the word “awesomeness” in it, but I’m pretty sure that’s the gist of it.

The Web Marketing Association’s annual WebAward Competition is the standard of excellence for Website development. Independent expert judges from around the world review sites in 96 industries and yesterday it was announced that Coldwell Banker Real Estate LLC has won not one but two prestigious web awards for outstanding achievement in web development.

The flagship website of Coldwell Banker Real Estate, coldwellbanker.com, won the first award for its design and performance as a whole. We relaunched coldwellbanker.com with new design and functionality like keyword search, IP lookup and video integration just last year. We’re pleased with the consumer feedback we’ve gotten and this web award is a nice confirmation of our efforts from a third party.

The second Web Award went to our new innovative way of searching for a home just through pictures that we call BlueScape Search. Internally we refer to BlueScape as the “housing genome project” as it uses behind the scenes algorithms, tags and sci-fi like processes to allow consumers to find their dream home but rating pictures with a thumbs up or thumbs down. Behind the scenes BlueScape analyzes the aspects of the picture based on keywords, tags and general technological wizardry to then serve up search results that meet the preferences of the pictures that were rated. You can then narrow the search to a specific area if you like, but I always like seeing what beachfront property BlueScape wants to send me to as I tend to have a preference towards being close to the water.

While coldwellbanker.com and BlueScape won the awards, there are a ton of other blue ribbon worthy tools at your disposal that we hope you’ll find useful to your search for the perfect home. Coldwell Banker On Location, our Coldwell Banker iPad app and Lifestyle search on coldwellbanker.com are all industry firsts and at your disposal.

We’re happy the Web Marketing Association acknowledged us, but we know that the true winners are those that get acceptance from real estate consumers. And you can rest assured we’re not resting on our laurels. More is coming.

Riding the Real Estate Roller Coaster – A brief Q&A with CEO Jim Gillespie

Posted on by
Reply

The real estate market sure has resembled a roller coaster lately. It’s tough to figure out when the twist and turn is headed our way, but with the help of Coldwell Banker’s CEO Jim Gillespie we have some great insight to help us navigate the real estate roller coaster.

Below is an interview Jim recently gave offering his insights on the current loop-d-loops of the real estate market…

Coldwell Banker Communications:
Jim, on a national level the news appears to be solely “doom and gloom” for real estate. However, locally we hear many markets are business as usual. Can you explain?

Jim:
Sure. When real estate was booming, 1995-2005, people tended to get caught up in the investment value of their home and practically every market in the US was appreciating. From this, blanket statements were made about the housing industry, which is a mistake because you can’t compare apples to oranges. It’s about individual markets. Not everyone is buying the same type of home in the same area. There are many variables to consider and each market is unique in that sense.

Coldwell Banker Communications:
Are there any signs of improvement overall?

Jim:
Hopefully. Recent NAR statistics show that existing home sales were up almost 19% over last August and a recent survey from NAR found prices to be stabilizing. One key factor we look at is inventory, which has come down significantly. But what real estate professionals know is critical and should always reinforce with the public, what is happening in one market, doesn’t necessarily pertain to another market.

Coldwell Banker Communications:
Are there markets where the home prices are still plummeting?

Jim:
This all depends upon a particular area. As I mentioned, in general, the prices in many markets have stabilized. The problem areas are where there is an abundance of distressed homes. NAR reports that these homes generally sell for 15-20% less than a similar property. Therefore the overall market, when you look at median price, will be dragged down.

Coldwell Banker Communications:
In your opinion, is buying a home still a good investment with all these ups and downs we’ve been experiencing over the past couple of years?

Jim:
I get this question a lot and my answer is always yes! You have to keep in mind, people move for lifestyle reasons/changes. For those who are fortunate enough to have a job and financial stability, now is the best time to buy as a pure financial and lifestyle investment. I personally have invested in real estate and over my 36 years in the business, I consider it one of the greatest long-term investments anyone can make! Many consumers are still afraid because of the fall-out surrounding the economy and it will take time to ease those fears. All of us have an obligation to calm their fears and provide individualized counsel they so desperately need. That’s the higher calling of a Coldwell Banker agent.

Coldwell Banker Communications:
Jim, thank you for your time. Is there anything else you would like to add?

Jim:
Anytime! And yes, I would like to let our sales associates know what a great job they’re doing to help calm potential buyers’ fears. It is all about keeping them informed and educated about the home-buying process. Keep up the great work!

Coldwell Banker Launches First-Time Home Buyer Resource Center

Posted on by
Reply

First national real estate brand with dedicated resource section for first-time buyers

Taking the next step to help people turn their dreams of homeownership into realities, Coldwell Banker Real Estate LLC launched a new portal on its website specifically for first-time home buyers.  The First-Time Home Buyers Resource Center includes videos, articles and tools to answer questions and guide new home buyers through the real estate search process.

According to the National Association of Realtors (NAR), first-time home buyers accounted for half of all the real estate market home sales in 2010. A recent survey by Coldwell Banker Real Estate found that 93 percent of first-time home buyers said using online tools to find detailed information about homes was important to them.

“Buying your first home is exciting but it can also be overwhelming, so we created this section for first-time homebuyers to simplify the steps toward home ownership, and make the process easier and enjoyable,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “I, like most, remember buying my first home and going through a process that was complex, emotional and rewarding all at the same time.  Today, first-time homebuyers recognize that if they have the financial wherewithal, now is a smart time to buy a home.  The First-Time Home Buyers Resource Center helps give them the confidence to enter the real estate market and gain valuable insight so they can best work with their agent.”

The new web portal, which will be updated regularly with timely content to help first-time home buyers, provides informative features from coldwellbanker.com, including multiple ways to search and recommendations for like properties. It also includes:

  • Video tips and advice about selecting a home, moving, renovating, and decorating
  • Informative articles on such topics as how to select a real estate agent, identifying wish list items vs. must-have items for a first home and determining how much is affordable
  • Mortgage calculator
  • Affordability radar – This feature breaks down a home’s listing price into what the monthly payment might be at current mortgage rates

The new First-Time Home Buyers Resource Center is a continuation of the Coldwell Banker Real Estate innovative online resources. Coldwellbanker.com already features BlueScape, a unique way to search for homes by emotion and feelings.  Clients select from a series of images that they like or dislike and the site returns a group of homes that might meet their needs.  The website also has a lifestyle search, which allows people to use a simple, sliding scale to rate elements of a home and community that matter most to them. In addition, Coldwell Banker Real Estate partnered with YouTube to develop Coldwell Banker On Location. This site allows consumers to gain market perspective, community highlights and home video listings from Coldwell Banker sales professionals. More than 2.5 million channel views have been recorded since its launch in May 2009.

Survey Methodology

Coldwell Banker Real Estate LLC conducted an online survey of 300 first-time home buyers in the United States (people who purchased their first home within the last year) on their experiences and perceptions of the home buying process.

About Coldwell Banker®

Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate.   Coldwell Banker is the oldest national real estate brand in the United States and today has a network of nearly 87,000 sales associates and brokers working in approximately 3,100 offices in 49 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to augment its web site www.coldwellbanker.com for smart phones, the first to create a iPhone application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel.  The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.  Each office is independently owned and operated.


Consumer Confidence Driving the Economic Bus

Posted on by
Reply

Jim Gillespie, CEO of Coldwell Banker Real Estate, gives us his thoughts on consumer fear and its impact on the housing recovery…

It’s all about consumer confidence.  If you didn’t think that American nerves are rattled by the recession, continued high unemployment figures and the recent Capitol Hill squabbling, you don’t have to look further than two recent reports involving housing for proof.

We are a skittish nation right now.

The National Association of Realtors reported  that the number of existing homes sold in July was down 3.5 percent from June.

And the median price was $174,000 in July which is down 4.4 percent from a year ago.  For buyers that is good news.  And there is more good news.

Freddie Mac’s weekly mortgage report showed that 30-year fixed-rate mortgages averaged 4.15 percent, the lowest EVER.

Let’s review: prices are down and mortgage rates are the best ever.  Sounds like a smart time to buy a home.  So what’s wrong?  Why aren’t people buying?

I firmly believe it’s those two words – “consumer confidence” – that is driving the economic bus right now.

I have said before and I’ll say it again.  For those with a job and financial viability, today is the smartest time in my 36 years in real estate to buy a home.

Along with the already mentioned lower prices and interest rates, most towns have quite a few homes to choose from.  And, don’t forget, affordability levels are near at their highest levels ever.

Yet many are choosing to remain renters.  The National Association of Realtors recently reported there  were 16 million renters who could afford to buy a home, up from 11 million in 2000.

And for those who aren’t ready to own, are unsure of their job status and/or not sure they want to remain in a home for at least a few years, renting is a great option.  After all, home ownership is not for everyone.

But for those who are considering buying a home, do some soul searching and decide if it’s only confidence in the economy – or lack thereof – that’s holding you back.

Outer Banks Real Estate: July Production Results are in!

Posted on by
Reply

The month of July started out with a bang for Coldwell Banker Seaside Realty. Here’s a quick recap of whats been going on at CBSR…

  • We had 19 closings in July – more than June!
  • Average sale increased to $311,223
  • Average price of the July pending sales was even higher!
  • Median sales price for single family detached listings is up 7%
  • Sales during the first seven months of 2011 are up 5% over last year.  The biggest gains were in Land sales, which showed a 28% increase
  • Inventory is finally decreasing!  There are 1,880 residential listings compared with 2,280 last year

Why are the inventory stats important to know?  For buyers, it’s still a great time to buy.  And for sellers waiting for “the market to turn”, they should put it on the market now (competitively priced, of course!)

Congratulations to our top selling agents for this month…

  • Garcia Team, selling 3 units
  • T.K. Warden, Vanessa Watson, Michelle Huffman, Nicole Walsh and David Hines, all selling 2 units
  • Marty Griffin, Roy Smith, Gordon Jones, Johanna Holcomb and David Fry, all selling 1 unit.

Coldwellbanker.com Revamps Properties Section

Posted on by
Reply

Coldwell Banker Real Estate LLC today announced a relaunch of the Properties Real Estate Search section of coldwellbanker.com to respond to the growing percentage (38%) of visitors using non-traditional search options on the site. Non-traditional searches include mobile phone sites and apps, as well as unique search functions such as keyword, lifestyle, affordability and BlueScape®.

This newly enhanced section of the website combines various real estate search options and tools available on coldwellbanker.com into one location to help consumers explore and acquire information for their home search.

From local community amenities to an affordability radar, informational videos to direct access to agents, this unique search section now provides consumers with more than a dozen ways to search, gather information and find the right home and community for their lifestyle.  Visitors will also gain access to download mobile tools including apps for the iPhone, Android and iPad for searching on-the-go.

“With nearly 40% percent of all searches on our website now being conducted in non-traditional ways, we continue to provide visitors with search alternatives and resources to access during the home buying process,” said Michael Fischer, chief marketing officer, Coldwell Banker Real Estate. “The days of only offering bed/bath search functionality are over.  Consumers want and need more options, and allowing them to search for homes as they see fit is critical.”

The following search options and tools are available on the new Properties Real Estate Search section:

  • Lifestyle Search*: From public transportation to wide open spaces, restaurants to trendy neighborhoods, those who are focused on location, location, location can rate which lifestyle characteristics are important to them.
  • Affordability Radar*: For the budget conscious, this tool enables users to identify upfront if a home on coldwellbanker.com fits within their budget based on their household income, monthly debts, available funds and loan terms.
  • BlueScape®: Built for dreamers and designed for home buyers, BlueScape allows consumers to experience the home searching process in an entirely non-traditional way, by rating abstract images with thumbs up or thumbs down. The BlueScape technology serves up listings that match each individual’s inherent preferences.
  • Coldwell Banker On Location®: Honing in on video as the future of real estate, Coldwell Banker’s branded YouTube channel provides thousands of videos, including community videos, virtual tours and agent videos.
  • Home Listing Report: The Coldwell Banker Home Listing Report allows site visitors to compare the average home price listing for a four-bedroom, two-full-bathroom home in more than 2,300 markets so they can see how each area stacks up in affordability.
  • Mobile Apps and Mobile Sites: Users can download the mobile app that fits their needs to search for a home anywhere, anytime from their iPhone, Android, iPad or other handheld device.
  • Luxury Properties: Those in search of the most extraordinary properties in the world can begin their search here.
  • International Property Search: Global home buyers can find a property overseas by searching coldwellbanker.com listings in 50 countries.
  • Vacation and Second Homes: Home buyers who want to hit the slopes, lounge on the beach or chill in a villa can identify the perfect home-away-from-home.
  • New Homes: If finding a new construction home is a priority, home buyers can narrow down their search with the New Homes area.
  • Agent and Office Search: Coldwell Banker has an expansive network of agents and brokers who can help home buyers and sellers make smarter real estate decisions. This feature allows site visitors to begin their search by choosing a trusted agent or office first, who will help guide them through the process.

Coldwell Banker’s On Location YouTube Channel Helping Reinvent Home Search

Posted on by
Reply

As with any industry, new technologies are changing the way we do business. The Coldwell Banker name is known for innovations in new media and developing creative customer service technologies. So there was no surprise when we were the first to fully harness the power of video in real estate listings, news and information through the Coldwell Banker On LocationSM YouTube channel.

73-12

Research shows that 73% of people are more likely to work with a real estate agent that uses video. That being said, only 12% of agents are using video to enhance their listings or promote properties.

Michael Fischer, Coldwell Banker’s chief marketing officer, believes that with the explosion of online video viewing, consumers have come to expect a video-based experience and believes that Coldwell Banker can differentiate itself by delivering that experience to clients and potential clients.

On Location makes video the entry to the home search experience, with information about neighborhood, schools, etc. in a supporting role. In the 2+ years since On Location’s launch it has gained over 3 million visitors and had over 100K videos uploaded. A companion iPad app has recently been introduced as well.

Check out our Coldwell Banker Seaside Realty Youtube channel, CBSeasideRealty, and find out what we’ve been up to.

Coldwell Banker Home Listing Report

Posted on by
Reply

The Home Listing Report (HLR) serves as a “snapshot” of local real estate markets across the country. It provides the average listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets that appeared on coldwellbanker.com between September 2010 and March 2011. The infographic below allows you the ability to compare home values in more than 2,300 real estate markets.

Click image for infographic

“REAL ESTATE IS LOCAL!” said Jim Gillespie, CEO of Coldwell Banker. “So when Coldwell Banker issued our annual Home Listing Report (HLR), we kept that in mind.”

Newport Beach, Ca topped this list as most expensive, with a four-bedroom, 2-bath listing for $2.5 Million, while Niagara Falls, New York came in as most affordable, with a listing price of $61,000. For most people, $2.5 million is out of the price range, but  1,545 markets had average listing prices of less than $300,000 for a four-bedroom, two-bath home.

“At the end of the day, the housing market is about buying a particular house, on a particular street, in a particular neighborhood.  It’s hyper-local, and I’m so proud that our trusted agents can help buyers going through this process understand what’s going on in any given market,” Gillespie said.

The full report, complete with market rankings and an automated formula to find out comparable prices for your home in other U.S. and Canadian markets, is available on http://hlr.coldwellbanker.com.