Monthly Archives: October 2012

Bring sticky traffic to your website with DIY real estate stats | Bedford Hills NY Real Estate

By MICHAEL SEGUIN

Have a website? Of course you do. Want more visitors? Of course you do.

Leveraging real estate statistics is a great way to drive up the value of your website, increasing both traffic and stickiness. But there are some time-tested tips and tricks to know going in if you are going to get the most out of the practice.

First, have a CMS. A CMS is a content management system. Most of you know them as a blog. I recommend WordPress, but there are lots of good options out there. Having a good CMS will make adding your content much easier to do, and help ensure that you maximize the benefit of that content by baking some SEO (search engine optimization) right in. I will assume that you already have a CMS and get right to the fun parts.

Second, do it yourself, first. There is no substitute to creating some statistics manually. None. There are a number of platforms out there that will try to sell you an embedded widget, and lots of ghost writers out there that will offer to create content in your name leveraging real estate statistics.

Now, there is ultimately nothing wrong with delegating this task in the end. Pay for a widget, or a ghost blogger if you are so inclined. But if you skip the part where you actually do it yourself, you rob yourself in several ways:

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  1. You rob yourself of the chance to really understand your markets movement in a granular fashion… inventory, days-on-market, list-to-sale-ratio. If you take the time to generate a few months worth of reports yourself, you will have a knowledge of and appreciation for these metrics that will last a lifetime.
  2. You rob yourself of the ability to understand what metrics really matter, and how much it is worth it to you to pay someone else to create them. It may well be that your time is much better spent meeting with clients, building relationships, submitting listing presentations or offers… but taking the time to do some of this work yourself will help you even in these contexts by arming you with more tools. And you will be well prepared to guide your relationship with a service or ghost writer to get the value you want.
  3. Worst of all, you run the risk of being unable to speak to content that you claim is yours. There are few things worse for relationship building than having a consumer ask you about your content, but you have no clue how to answer them.

For all these reasons and more, I highly recommend that you start by doing it yourself. We will come back to that part!

Third, don’t just do charts! This is the single biggest mistake that most agents make. They grab a chart or table of data from somewhere, likely as an image or a pdf, and think that posting that to their website will help them out. You must remember that goal 1 is to get traffic to your content, and goal 2 is to have them enjoy that content long enough to stay. You cannot have the latter without the former.

The primary goal of leveraging statistics on your website is to get the traffic, and you cannot do this simply posting pictures or pdf’s. Without getting into the depths of SEO, suffice it to say that on the web, a thousand words is worth much more than a picture. Google, and the other search engines, index words far better than they do pictures.

A simple rule of thumb is that you need to describe in words both the important data points in, and the meaning (in your mind) of the data that is presented visually in a chart.

Here is an example:

If I simply post this chart, with no descriptive text at all, Google will see that content as an image file name, perhaps a title tag or alt text, and nothing more. Therefore, someone searching Google for exactly this information will never find your content, your website, and of course, you.

However, if I add a descriptive paragraph with a few links to my other content, I am creating rich content for Google to consider. Clearly, in our chart, Days-On-Market is plummeting… but if you don’t explain your opinion of why, all Google will see is an image.

So try something like:

Due in part to pent up demand, days on market over the past 18 months for inventory has plummeted. The time to sell an average non-distressed property is now less than 30 days for condos and townhomes, and less than 40 days for detached homes in the (insert market area name here).

This is good news for sellers as it means that they can expect a rapid transaction for a well priced home (already have an article on the art of pricing? Link “well priced home” to that article). It is also good news for real estate values in general, as it helps to bring home values back from their depressed state.

Looking for real estate in (insert market area here)? Just click here to see homes in this (insert market area here) area.

Link that text to a deep search on your real estate search engine for homes in that region. Adding a link to the words “click here”  does not help you! The link needs to be on the words that matter.

What we end up with is a useful, rich description for Google to kanoodle on. If someone searches for home values in {your market area}, you now have a greatly increased chance to bring that visitor to your website, and keep them there.

Fourth capture leads! This component is optional of course, but if you have done all of this, then why not offer consumers a chance to subscribe to receive a newsletter style update on a monthly basis of the movement of the market?

Finally, use a boilerplate statement at the bottom of each post along the lines of:

The information presented is deemed accurate but not reliable or guaranteed. Reasonable precautions were taking in the preparation of and presentation of this information to ensure accuracy, but the author assumed no liability for any actions taken based on this information. Safe harbor for forward looking statements; some opinions expressed represent forecasts of economic conditions as they impact real estate values. All such information is solely conjecture and should be regarded as opinion only and not serve as the sole basis for any financial decision.

In a followup post on the subject, we will explore the best metrics to track, and how to present eye catching charts and write SEO rich descriptions to help draw traffic to your site and keep them engaged once you get them there.

Michael Seguin is a technology and communications specialist. He is the Senior Technology Manager for the Contra Costa Association of Realtors. He is also the founder of GotWebDev Inc. and owner operator of QRstyler.com, the first free custom QR encoder on the planet.

Facebook Quick Tip: Facebook Lists to cut through the noise | Pound Ridge Real Estate

Facebook is noisy. In between the Farmville games, updates from your friends from high school and photos from people you used to work with – are your clients or potential clients.

So, how can you cut through the noise to connect with those key people? The answer is simple: Facebook lists.

Look at your friend list and pick out the 10-20 people who are potential clients. These are people who you know will be ready to buy or sell in 1-2 years. Remember, Facebook is a way to build relationships and stay in touch. So, the best way to build a relationship and stay top of mind with these key people is to create a list.

Here is how you do it:

Step 1:

 

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Step 2:

  • Give your list a name – i.e. “Potential Clients” – this list won’t be made public, but name it something easy to remember. Add your top 10-20 people to your list. Click “create”

 

 

 

 

 

 

 

 

 

Step 3: 

  • Go back to this link, and click “Add to Favorites.” Now, when you go to your ‘Home’ screen, you can easily see the list under your Favorites.

 

 

 

 

Step 4:

  • Make it a point to click on that list a few times a week. See what those key people are doing, comment and like updates or photos, but make sure to be authentic.

Building a relationship on Facebook is similar to in-person. The more you interact, the more of a bond and a relationship you build.

Here are some more quick tips on Facebook strategies:

Do you have a quick tip you’d like to share? Leave me a comment below!

New Credit Risk Scoring Promises to Qualify More Borrowers | Armonk Homes

Evidence is growing that more borrowers will be approved for a mortgage without increasing risk to lenders through more sophisticated credit risk scoring that uses alternative data, such as unsecured credit and property history in consumer credit report analysis, according to a new report by the CEB TowerGroup.

“Traditional credit data and analytics continue to be relevant, but are not sufficient to satisfy the consumer credit reformation of today,” said the CEB TowerGroup’s senior research director, Craig Focardi. “As a result of the changes in consumer behavior, lenders cannot revert back to their prior mortgage underwriting policies. Too much damage has already been done to the market, consumers, shareholders and investors.”

CEB TowerGroup evaluated data from a joint analysis conducted by CoreLogic and FICO that compares the FICO® Score used by most lenders today with a new score launched in July that evaluates the traditional credit data from national credit data repositories and the unique alternative credit data contained in the recently launched CoreScoreTM credit report. The analysis of 300,000 mortgage applications found that 3,100 more applicants would receive a qualifying credit score of 700 and approximately 70 percent of a sample population saw their credit score improve.

The report included a joint analysis by CoreLogic and FICO that found that report shows that enhancing the process of determining risk with new alternative data and analytics would allow lenders to approve loan applications that might otherwise be denied, or deny problem loans that might otherwise be approved. Both outcomes would help consumers and the market itself,” said Tim Grace, senior vice president of Product Management at CoreLogic.

The report, titled “Enhanced Credit Data and Scoring: Deeper Insight into Mortgage Applicants,” notes that consumers used to pay mortgage debts first, but because of the recent financial crisis some consumers now treat paying other debts, such as credit card bills and car payments, as a higher priority to maintain personal financial liquidity.

Key findings in the CEB TowerGroup report include:

  • Alternative credit information can support loan applicants with newly established credit files with good credit, those with minimal information in their traditional credit files but with good alternative credit payment histories, and long-time renters with no serious payment issues.
  • More complete loan applicant, property and related information will bring greater transparency and efficiency to the mortgage lending markets and help reduce risk.
  • The new FICO/Corelogic score is more accurate than the prior FICO® Score in identifying the riskiest loans improving lenders ability to discern consumer credit risk at origination. For applicants identified as the riskiest 10 percent of the lending population (those most likely to become past due on their mortgage loan), it identified 10 percent more seriously delinquent mortgage loans – loans 90 days or more past due.

Patch on Astorino: Westchester Preparing for the Worst | Pound Ridge Homes

Time is running out for people in low-lying parts of Westchester County who have been asked to evacuate their homes as Hurricane Sandy bears down on the East Coast.

Westchester County Executive Robert Astorino warned those residents Monday to leave their homes now, before conditions worsen this afternoon and evening.

“We’re not doing it just for the sake of doing it,” Astorino said of the local evacuations in flood prone areas of the county. “We are doing it because people and property are at risk.”

Speaking to reporters from the county’s emergency operations center in Hawthorne, Astorino said early this afternoon could be the last chance for these residents to leave areas that face the most dangerous flooding.

“Those who have not evacuated, if there are problems later, we may not be able to get to you,” Astorino said. “This is the perfect time still to evacuate.”

During a tour in the City of Rye and Mamaroneck earlier in the day, Astorino said he noticed several people out taking pictures; a practice he said will become increasingly dangerous throughout the day.

“It’s very important right now that people start heeding the warnings, stay inside, don’t go out and about,” Astorino said. “This is a serious storm.”

Although there were no incidents to report as of early Monday afternoon, Astorino said the county is prepared to help local communities if things worsen Monday evening. The National Guard has 100 drivers and 50 pieces of emergency equipment on standby at nearby Camp Smith. County workers will also be on call through the evening.

Mandatory evacuations to this point have been limited to localized and smaller areas. Astorino said it is unlikely more evacuations will be ordered Monday, as most residents will be urged to ride out the storm in the safety of their homes.

Hurricane Sandy has already caused significant flooding in parts of northern New Jersey and in some Sound Shore communities in New York. Heavy winds are expected Monday afternoon and evening and power outages could be a problem.

Astorino said county officials have been in contact with utility companies and that power will be restored as quickly as possible once conditions allow workers to operate in the area.

Bee Line Bus service has been cancelled as of Sunday night. Astorino said the service will likely not return until sometime Wednesday. The Bronx River Parkway will also remain closed Monday and probably Tuesday, Astorino said. Although Westchester County Airport remains open, Astorino said it is unlikely any flights will be coming in or out Monday or Tuesday.

It is likely the worse of the storm will hit the region Monday afternoon into early Tuesday morning, according to National Weather Service predictions. Astorino urged residents to keep in mind that the worst of the storm is still ahead.

“This is not an ordinary storm,” Astorino said. “This is a dangerous storm.”

Insurance: What to do now and when the storm ends | Bedford Corners Homes

insurance flood damage

Most home insurance policies cover wind damage, but flood damage usually requires a separate policy. (Photo: Mark Humphrey, AP)

Story Highlights

  • Got insured property? There's an app for that
  • Your deductible can rise dramatically for hurricane damage
  • Stay with your claims adjuster and take notes as he surveys the damage

5:48PM EDT October 29. 2012 – If Hurricane Sandy hit your home, you’ve probably lost something, from a few shingles to the whole shebang. If you’ve planned well, you can keep your losses as low as possible. And if you haven’t planned well, you can take action now to minimize your losses in the next disaster.

The best thing you could have done before Sandy struck was make an inventory of your house and your possessions. There’s even an app for that if you still want to do it. Go to the Insurance Information Institute’s website (www.iii.org/software) and download its home inventory app.

The app lets you enter information on where you bought your possessions and how much they cost. All the information is stored remotely, so even if your iPhone gets swept out to sea, you’ll still have a record of what you lost.

Make sure you know your insurance policy number — and, if possible, where a copy of your policy is. If you haven’t read your policy, this is a very good time to review it. “Reading a policy isn’t exciting, but it’s very important,” says John Egan, editor of InsuranceQuotes.com.

Most policies will cover wind damage, and they will cover water damage if a tree crashes into your roof. But flood damage typically requires a separate policy. “There are many people who find out the hard way that flooding can cause a lot of damage,” Egan says. “They’re left holding the bag in flooded areas.”

And, yes, it’s too late to get flood insurance for Hurricane Sandy. Typically, insurers cease writing policies when hurricanes are nearby. “You need to think about it in dry weather,” Egan says. Most flood insurance policies kick in 30 days after you sign them.

You should also check your policy to see if your deductible is higher for a hurricane than a regular wind policy. Typically, your homeowner policy will have a dollar deductible — say, $1,000 — for damage to your house.

Many policies have hurricane deductibles, which then become a percentage of the home’s insured value. If your home’s insured value is $200,000, for example, the policy could have a 5% deductible — $10,000. Typically, the information is on the first page of your policy.

The hurricane deductible is usually spelled out carefully: Some may not kick in unless the hurricane is a Category 2 or above, for example. If you do have to pay the higher deductible, however, you may be able to deduct some of that loss from your income for tax purposes. You’ll need to fill out IRS Form 4684 to claim your loss.

Once the storm is over, it’s time to call your insurer. If you don’t know the number, you can find the toll-free numbers of all the insurance companies at the III’s website.

Claims adjusters are just outside the storm area, waiting for local authorities to give them the go-ahead to enter devastated areas, says Bob Hartwig, president of III.

It’s crucial that you be with the adjuster when he surveys the storm damage, Egan says. Keep a notebook and write down everything he says, as well as the name of everyone you talk to at the insurance company. “Point out damage, take notes of what’s happening and what the adjuster says and does,” Egan says. “No one else will do that for you.”

If your home is uninhabitable, and your policy covers it, your adjuster can probably cut a check on the spot for temporary housing. If you make a temporary repair to prevent further damage — boarding up a broken window, for example — you can probably get reimbursed for the cost of materials.

Be wary of contractors who go door-to-door and ask for an upfront fee to fix storm damage, Hartwig says. Too often, they’re scamsters who will take your money and scram.

Reference: pauldavis.ca/water-flood-damage-cleanup/.