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Is This a Good Time to Sell My House? | South Salem Real Estate
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6 Reasons Social Media Is Critical To Your SEO | South Salem Real Estate
Once upon a time, “the old SEO” ruled the website marketing world. This was during the early, pioneering days of online marketing — before it was typical for a small business to have a website and long before your grandmother had an online presence that could rival a teenager. The old SEO strategy centered around one primary factor: Link Building. But today, link building as a direct SEO tactic is completely dead. The fact is, Google has found smarter ways to measure the popularity of your website: it’s called social media.
The fact that social media is critical to your online presence (and your search engine rankings) is often a tough pill for small business owners to swallow. It can be a difficult marketing strategy to measure, and it can seem like a strange way to grow their business.
But the days of easily measuring your SEO strategy are long gone. It’s no longer about building X amount of links and creating Y amount of optimized content pages on your website. These old approaches to getting search engine attention are very static. The new strategy is about being dynamic, engaged, and interactive within your marketplace and when acquiring SEO for commercial real estate companies. Social media is the only place you can make that happen.
Here are six reasons social media needs to be an important part of your website marketing and SEO strategy for years to come:
1. Link building was always about social proofing.
Think about it – why did Google ever allow links to determine which websites ranked above all the others? The answer is simple: links were like “votes” for your website. The more votes you get, the better off you are. So SEO companies started building links (aka “votes”) manually. Then, Google — to counter all of the fake voting — figured out that some votes should count more than other votes. So SEO companies went around manufacturing websites with the best votes. And Google, finally, realized that SEO link building would never work long-term for ranking websites. So Google started penalizing websites with “fake votes” (which is basically anyone who pays a company to do SEO link building for them). Seeing a trend here? The idea behind links as a ranking factor is a very good idea, but since it’s become so easy to manipulate, Google has been forced to turn to social media channels which do the same thing but are much harder to manipulate. Link building was always about social proofing.
2. Social media allows you to “crowd source” your link building.
When you have a following on Twitter or Facebook or LinkedIn, you create a team of fans who can share your content. That’s what social media is all about, folks — being social! (Imagine that.) So when you write a new blog post on your business blog, you can take that content and share it on Twitter and then get some of your followers to share your content. You can also get your website visitors to share pages of your site and your blog on social media by adding simple social buttons to allow people to quickly and easily “vote” for your content right there on your website. Sure, many of these people will never become your actual customers, but that’s not your objective here. Your objective is to build buzz and attention around your website.
3. Being social is the fastest way to multiply your presence online.
The problem with old school SEO link building is your always building “signs” to your website in places where nobody is looking. It’s something like buying a billboard in the desert. Social media, on the other hand, is a dynamic world of interaction and activity where things are constantly happening in real time. This is why it’s so crucial that you have a social media PRESENCE — not just social media accounts where you never or rarely post anything. You’ve got to be active, you’ve got to be social. This is the fastest way to multiply your online presence simply because it’s where everyone is. If you get in front of the right people (which is a matter of consistency, not luck) then you can build some buzz around your business and your website.
4. Social signals is a real thing.
I’m sure you’ve heard the term “social signals” floating around out there. Love it or hate it, this is a real thing. Google is definitely measuring your website’s “pulse rate” on social media channels. How often do you share content on social channels? How often do people visit your website for social channels? How many fans/followers do you have? Does your website have social sharing elements available for visitors? Social signals really is the new “link building” metric you should be concerned about and worried about. Forget about how many links you have — especially if you’re building fake links — and start worrying about the health of your social media presence.
More properties going to the auction block as judicial foreclosure states clear backlogs | South Salem Real Estate
Foreclosure backlogs continue to ease in states where courts handle the process as the number of properties headed to the auction block climbed for the 16th month in a row in October, according to the latest report from foreclosure data aggregator RealtyTrac.
Overall U.S. foreclosure activity — filings of default notices, scheduled auctions and bank repossessions — rose 2 percent from September to October, but was down 28 percent year over year. Filings came in on 133,919 U.S. properties, or 1 in every 978 units. Florida, Nevada, Maryland, Ohio and Illinois posted the nation’s highest foreclosure rates among states.
But the total number of scheduled judicial foreclosure auctions, or “notices of foreclosure sale,” increased 7 percent on an annual basis last month and 10 percent on a monthly basis to 30,023. Judicial foreclosure states with the biggest annual spikes in auctions included Maryland (up 177 percent), Delaware (up 142 percent), New York (up 98 percent), New Jersey (up 97 percent), Pennsylvania (up 58 percent), Connecticut (up 35 percent), and Florida (up 32 percent), RealtyTrac said.
“The backlog of delayed judicial foreclosures continues to make its way through the pipeline, with many of these properties now being scheduled for the public auction after starting the foreclosure process last year or earlier this year,” said Daren Blomquist, vice president at RealtyTrac, in a statement.
“Lenders are likely moving these properties more rapidly to the public auction given that there is strong demand from institutional buy-to-rent investors at the auction and that rising home prices mean more of the loan losses can be recouped, either by selling to an investor at the auction or by repossessing the property and reselling as bank owned.”
– See more at: http://www.inman.com/2013/11/13/more-properties-going-to-the-auction-block-as-judicial-foreclosure-states-clear-backlogs/#sthash.O8QuuyEh.dpuf
Even as Housing Prices Rise, Mortgage Rates Should Stay Low | South Salem Real Estate
The real estate market is stabilizing, as more foreclosures and short sales leave the market, and mortgage rates look fairly low going forward.
One fly in the ointment: Home prices may be rising, so buyers don’t want to wait too long to lock down a good property before prices rise too high next year — a real possibility.
The evidence? Two reports out signaling lower mortgage rates but higher home prices.
First up is data from the California Association of Realtors, which reports that housing affordability in California has fallen for a sixth-straight quarter.
That could lead to many homebuyers being locked out in a state that includes three of the most visible housing markets in the nation — San Francisco, Los Angeles and San Diego.
According to the association, only 32% of Golden State homebuyers can afford to buy a median-priced single-family residence. That’s down significantly from the third quarter of 2012, when that figure stood at 49%.
What does it take to handle a median-price home in California these days? The association estimates it takes at least an income of $89,000 for a new home valued at $433,940. The monthly payment would clock in at $2,230 after a 20% down payment and an interest rateHYPERLINK \l “” of 4.36%.
Compare that with the third quarter of last year, when the median home price in the state wa$339,930 and the bottom-line annual incomeHYPERLINK \l “” to buy a property in that price range was only $65,828.
The association says every major regional housing market in the state saw home prices rise by 10% or more from last year to this year.
That sobering news is countered by data from Toronto’s RateSupermarket.com, a home mortgage Web exchange that shows mortgages rates in the U.S. and Canada should remain low well into next year.
“Canadian and U.S. bond yields remain low due to assurances that economic stimulus will remain for the longer term in both countries,” the company says in a report out this week. “This will lead to continued downward pressure on yields and, as a result, moderate discounts to fixed mortgage rate options.”
NAR takes steps to build ‘Rockefeller Center’-like headquarters in Chicago | South Salem Realtor
Chicago may have its own Realtor Plaza in the not-too-distant future, modeled on New York’s iconic landmark, Rockefeller Center. Cheers and applause followed a vote by the board of directors of the National Association of Realtors today in which the board approved a redevelopment project for the trade group’s Chicago headquarters at 430 North Michigan Ave.
The project would involve demolishing the existing building, which is more than a half-century old, and combining it with an adjoining parcel to create a mixed-use development that would include retail, condominiums, a flagship hotel, and office space. NAR currently has a nonbinding understanding with a partner to build the project.
The trade group’s leaders declined to name the partner at today’s meeting. Pamela Monroe, chair of NAR’s Real Property Operations Committee, said the unidentified entity is “a world-class partner with premium credentials” that is “very private” and “extremely well-capitalized.”
“Our No. 1 priority is to maintain a permanent high-quality, high-productive work environment of which members and staff can be proud,” Monroe said, adding that other priorities include opportunities for branding and a return on investment.
NAR Treasurer Bill Armstrong noted that he and NAR CEO Dale Stinton had been in discussions with the partner for “a long time,” but had been prohibited from mentioning the project to members due to nondisclosure agreements.
The partner, which has “billions to invest,” proposed a 93-story, 2 million-square-foot building that would be a “Rockefeller Center-type venue,” Armstrong said.“This is one really exciting project we are trying to look into. The economics are very,very good,” he added.
– See more at: http://www.inman.com/2013/11/11/nar-takes-steps-to-build-rockefeller-center-like-headquarters-in-chicago/#sthash.V7yrz5Pf.dpuf
Home equity lines due for reset may be looming financial disaster | South Salem Real Estate
Could the real estate market be heading for a new financial storm? Maybe.
Some mortgage and credit experts worry that billions of dollars of home equity credit lines that were extended a decade ago during the housing boom could be heading for big trouble soon, creating a new wave of defaults for banks and homeowners.
That’s because these credit lines, which are second mortgages with floating rates and flexible withdrawal terms, carry mandatory “resets” requiring borrowers to begin paying both principal and interest on their balances after 10 years. During the initial 10-year draw period, only interest payments are required.
But the difference between the interest-only and reset payments on these credit lines can be substantial — $500 to $600 or more per month in some cases. If borrowers cannot afford or choose not to make the fully amortizing payments that reduce the principal debt, the bank that owns the note can demand full payment and foreclose on the house if there is sufficient equity.
According to federal financial regulators, about $30 billion in home equity lines dating to 2004 are due for resets next year, $53 billion the following year and a staggering $111 billion in 2018. Amy Crews Cutts, chief economist for Equifax, one of the three national credit bureaus, calls this a looming “wave of disaster” because large numbers of borrowers will be unable to handle the higher payments. This will force banks to either foreclose, refinance the borrower or modify their loans.
But refinancings often will not be possible, Cutts says, because the homeowners won’t qualify under the tougher mortgage rules taking effect in January, or the combined first and second mortgages may exceed the value of the house. Complicating matters further, interest rates are likely to rise from their current low levels as the Federal Reserve tapers its purchases of Treasury and mortgage-backed securities. Higher base rates would make the payment shocks even worse. Plus, according to Cutts, many of the owners with high-balance credit lines already have low credit scores — legacies of the housing bust and recession — and have an elevated statistical risk of default after the reset.
Financial regulators, including the comptroller of the currency, are aware of the coming bulge in high-risk resets and have been urging the biggest banks to set aside extra reserves for possible losses. Last month, Citigroup said it was increasing reserves on its nearly $20 billion in home equity lines and acknowledged that the reset payment shocks for borrowers could be a major challenge.
http://www.latimes.com/business/realestate/la-fi-harney-20131110,0,6997479.story#axzz2kHRdpZUW
Consumer confidence in homebuying hits all-time low | South Salem Real Estate
Consumer confidence in housing significantly widened last month, as most taxpayers were turned off by the federal government shutdown and the ongoing debt ceiling debate, taking a toll on American’s outlook toward the housing market.
The share of consumers who believe it’s a good time buy a house declined to 65% — an all-time low — while the number of those who believe mortgage rates will go up in the next year fell to 57%, according to Fannie Mae’s latest monthly survey.
It’s important to note that the survey was conducted primarily in the first two weeks of October – before the government shutdown ended and the debt ceiling agreement was reached.
Generally speaking, buying a home is a bet on the future and the federal freeze created a lot of uncertainty about the near-term economic state, explained Trulia (TRLA) chief economist Jed Kolko.
“Also, affordability has worsened: both rising mortgage rates and rising home prices have pushed more homes out of reach of the middle class, which would also lead to a decline in people thinking it’s a good time to buy,” he added.
The gap between the share of consumers who say the economy is on the wrong track and those who believe all engines are a-go widened from 16 percentage points in September to 40 percentages points in October — a record month-over-month change.
Nonetheless, the steep decline in Americans’ housing sentiment, which is expected to continue to tumble down as housing debates continue to heat up, Fannie Mae senior vice president and chief economist Doug Duncan doesn’t believe it will derail the gradual healing in housing.
“While this decline in consumer optimism may portend a slowing of the housing recovery, supply constraint data suggest that we are likely to see continued positive growth in home prices,” Duncan said.
He added, “That being said, October’s survey results suggest that consumer attitudes are highly responsive to ongoing debate and decision-making in Washington. Three key budget and debt ceiling dates loom in December, January, and February. The handling of each will likely play a key role in determining the pace and timing of any recovery in consumer sentiment.”
The average 12-month price change expectation continued to fall, dropping 0.2% to 2.9%.
Additionally the share of people who believe home prices will go up in the next 12 months fell to 36%, while those who say prices will go down, increase to 10%.
The share of respondents who say they would buy if they were going to move increased to 70%, a new high.
Interestingly, the share of consumers who said their personal financial situation would get worse in the next 12 months hit a new high of 22%.
Consequently, the amount of respondents who say the economy is on the right track fell 12 percentage points, which is the biggest monthly record change in the survey’s history.
http://www.housingwire.com/articles/27847-consumer-confidence-in-homebuying-hits-an-all-time-low
Survey shows most brokers don’t fear Zillow, Trulia and realtor.com, but they get most leads elsewhere | South Salem Real Estate
A survey of real estate brokers’ attitudes toward national listing portals like Zillow, Trulia and realtor.com shows that while most don’t feel threatend by them, they’re not depending all that heavily on them for new business, either.
The survey, by Bellevue, Wash.-based Imprev Inc., a provider of integrated marketing tools, also found that while brokers are generally satisfied with the quality of “leads” they get from national sites, they’re less thrilled with the job their agents do following up on them.
The bottom line was that brokers still see traditional methods of drumming up business like open houses, yard signs, walk-in business and getting in touch with past clients as a better value than national portals.
The online survey of more than 260 brokers and franchise executives, conducted in October, found that among the top three national listing portals — Zillow, Trulia and realtor.com — realtor.com was seen in the most positive light.
That’s perhaps not surprising, given the site’s formal ties to the National Association of Realtors. Zillow, Trulia and other property search portals not operated by a real estate broker are often referred to by industry insiders as “third-party” websites.
While 24 percent of those surveyed had a “negative” (8 percent) or “somewhat negative” (16 percent) view of realtor.com in terms of how the site impacts or could impact their business, Zillow and Trulia tallied higher “fear factor” scores.
– See more at: http://www.inman.com/2013/11/06/survey-shows-most-brokers-dont-fear-zillow-trulia-and-realtor-com-but-they-get-most-leads-elsewhere/#sthash.uMBIrVjF.dpuf
Mortgage applications tumble 7% | South Salem Real Estate
Mortgage applications spiraled down for the week ending Nov. 1, decreasing 7% from a week earlier, the Mortgage Bankers Association said Wednesday.
The refinance index slid 8%, while the purchase index dropped 5% as refinance applications ticked up.
The refinance share of mortgage activity declined to 66% of total applications, slightly down from 67% the previous week.
The average contract interest rate for a 30-year, fixed-rate mortgage with a conforming loan limit dropped to 4.32% from 4.33%.
Meanwhile, the 30-year, FRM jumbo rose to 4.37% from 4.46%.
The average 30-year, FRM backed by the FHA grew to 4.07% from 4.06%, and the 15-year, FRM increased to 3.44% from 3.42%.
In addition, the 5/1 ARM tumbled to 3.08%, compared to 3.17% a week prior.
http://www.housingwire.com/articles/27818
South Salem NY Weekly Real Estate Report | #RobReportBlog
| South Salem NY Weekly Real Estate Report | 11/5/2013 | |
| Homes for sale | 75 | |
| Median Ask Price | $699,000.00 | |
| Low Price | $205,000.00 | |
| High Price | $12,200,000.00 | |
| Average Size | 3029 | |
| Average Price/foot | $338.00 | |
| Average DOM | 178 | |
| Average Ask Price | $1,078,984.00 | |