Tag Archives: Bedford Corners NY Homes

Bedford Corners NY Homes

Damaged Foreclosures Beckon Bargain-hunters | Bedford Corners Real Estate

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While prices of normal foreclosures and short sales have been rising, damaged distressed properties are actually becoming less expensive, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

Prices for REO properties in need of repair – the type banks look to unload after a foreclosure – have not been rising along with prices for non-distressed properties. They have been moving in the opposite direction.

According to HousingPulse results, the average price for a damaged REO property sold in January was just $88,100. That was not only 17.1 percent below the average damaged REO price recorded a year ago – $106,300 – but also the lowest level ever recorded by HousingPulse in its four-year history.

One reason for the decline in damaged REO prices is the fact that owner occupant buyers have become less interested in foreclosure fixer-uppers over the better part of a year. HousingPulse results for January show current homeowners had a record low 15.0 percent share of the damaged REO purchase market, while first-time homebuyers had a near-record low share of 19.6 percent.

Meanwhile, investors, lured by low prices and the growing opportunities for flipping, have significantly increased the purchase share of damaged REO properties in recent months. During January, investors accounted for 65.4 percent of damaged REO home purchases, according to HousingPulse numbers. That was up from 58.1 percent a year earlier and the highest level recorded in the survey’s four-year history.

Strong homebuyer traffic and limited housing inventory continued to push overall home prices upward in January. HousingPulse data show that home prices overall, based on a three-month moving average, are at the highest level – $236,100 – seen in nearly three years and have been climbing since last spring. Prices for non-distressed properties accounted for 65.0 percent of total home purchase transactions tracked by HousingPulse in January. Average home prices for non-distressed properties were up a healthy 5.1 percent on a year-over-year basis – rising from $264,700 in January of 2012 to $278,200 in January of 2013.

via realestateeconomywatch.com

3 lessons in branding your real estate business | Bedford Corners Homes

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The Girl Scouts have a special place in my heart.

After being a loyal Brownie and then Girl Scout for many years in elementary school, I am a sucker for any scout who comes knocking at my door — especially when it is a cookie sale season. After my recent three-box purchase, I thought about why the Girl Scout Cookie Program works and what we in the real estate industry can learn from it – especially from a branding perspective.

1. Longevity and consistency in brand. The Girl Scouts have time on their side. With a 100+ year old brand – according to their site, their mission is this: “Girl Scouting builds girls of courage, confidence, and character, who make the world a better place.”

You may not have a 100 year old brand, but you can be consistent in your messaging and in your brand. Don’t be all things to all people. Don’t change your brand messaging every other month with a new font or the next shiny new app. Be consistent in action, in your website, in how you interact with people, in your marketing, and in everything you do.

Consistency breeds trust – and as we all know, we do business with those people that we know, like and trust.

2. Adapt and change. A 100-year old brand is bound to get stale. The Girl Scouts just introduced an app for iPhone and Android which will allow you to find out about scouts and the cookies.

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Girl Scouts App

screenshot of Girls Scouts app in the Apple Store

Are you adapting and changing your brand as needed? Do you have an updated website? Or is it stale and dated? Do you have a presence on social media and a strategy to build relationships, or are you simply “just there?”

When you think about adapting and changing – you need to think about being flexible and open to new ideas. Most people don’t embrace change because of fear. Don’t be afraid; adopt new technologies, try them out and see if they are a fit for your brand – if not, don’t be afraid to let it go and keep what works for you!

3. Traditional marketing still works. Door to door. Face to face. The Girl Scouts have made millions of sales by sticking with what works – good old fashioned face to face selling. The lesson here – don’t throw out traditional marketing that still works for you. Now more than ever – we have options.

If newspaper ads, direct mail and door knocking are still getting business for you – don’t eliminate them from your marketing plan! The key here is to pick and choose and don’t just do something because “it’s what you’ve always done” – but look and see how it is helping your brand and bringing in new business.

Would love your feedback and thoughts about this. Leave me a comment below!

via next.inman.com

C21, Re/Max and Coldwell Banker most recognized brands | Bedford Corners Real Estate

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Century 21, Re/Max and Coldwell Banker are the most recognized real estate brand names used by brokerages, according to an online survey of U.S. homebuyers and sellers commissioned by Century 21 and conducted by Millward Brown, a global brand research company.

The multiple-choice survey, which polled 1,204 randomly selected U.S. adults who have either bought or sold a home in the past two years or plan to buy or sell a home in the next two years during two separate two-week periods in 2012, showed that 96 percent of respondents had “seen or heard of” Century 21.

Re/Max, Coldwell Banker and Prudential rounded out the top four with 91 percent, 86 percent and 70 percent of respondents, respectively, indicating that they had ever “seen or heard of” the brands.

A similar survey by Millward Brown last year showed Century 21, Re/Max and Coldwell Banker retaining similar leadership positions in brand awareness.

Other brands in the poll, which was conducted Feb. 5-19, 2012, and Aug. 12-26, 2012, were Keller Williams, ERA, Real Living, Realty Executives and Weichert, Realtors.

BrandPercentage who “have ever seen or heard of” the brand
Century 2196%
Re/Max91%
Coldwell Banker86%
Prudential70%
Keller Williams44%
ERA42%
Real Living24%
Weichert, Realtors20%
Realty Executives16%

Source: Millward Brown 2012 real estate brand research study

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This year’s survey marked the first time respondents were asked to identify the “most respected” brand in the real estate industry. Century 21, Re/Max and Coldwell Banker also topped this list.

BrandPercentage who selected the brand as “the most respected in the industry”
Century 2122%
Re/Max17%
Coldwell Banker16%
Prudential12%
Keller Williams11%
Weichert, Realtors8%
Realty Executives8%
Real Living7%
ERA5%

Source: Millward Brown 2012 real estate brand research study

Respondents were also asked how likely they were to recommend one of the leading brands to someone else. Century 21 revealed only whether more or less than 25 percent of respondents would recommend a brand.

Less than 25 percent said they would recommend Coldwell Banker, ERA, Keller Williams, Prudential, Realty Executives or Weichert. More than 25 percent of respondents said they would recommend Century 21 or Re/Max.

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via inman.com