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Bedford Hills NY Real Estate

Best Practices for Your Real Estate Web Site Home Page | Bedford Hills NY Realtor

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Your Web site should be working for you 24 hours a day, 7 days a week, 365 days a year, capturing leads and marketing your brand. Your site should be helping consumers search for homes, find local market data, and get answers to some of their burning questions. And all of this can be handled on your Web site’s home page. Yes, really.

I’ve come up with a few best practices to consider for the home page of your real estate Web site, which will provide potential clients with a better overall online experience while boosting your credibility as a go-to resource in your market.

1. A full IDX search that is front and center

Make no mistake, consumers come to your Web site to search for listings. And they want to search all the listings — not just your or your office’s listings. Give them a full IDX search or don’t bother having a Web site. Keep your search obvious, as it should be the first thing the consumer sees on your home page. Offering a school district search, short sale and foreclosure search, and other advanced search filters would be nice as well.

2. Calls to action and contact forms

Say it with me: “The purpose of your Web site is to get more business.” If not, then why bother? Use calls to action to ask the consumer to take action on a specific item. Asking a Web visitor to “click here to view” some information will typically garner more clicks then just embedding the link in your text. Be sure to have contact forms (in addition to displaying your contact information) to entice visitors further. Ask them to make an appointment, get more information, sign up for local market data, get a CMA, and so on. These forms cannot be ignored – this is how a Web site viewer becomes a lead.

3. Clear and uncluttered layout (and nothing set to automatically play, please)

Always focus on the visitor experience when thinking about your home page design and layout. Be clear with your purpose and don’t overwhelm them with words. Remember that white space is okay. Avoid heavy code, as this will affect your page’s load times. Please (pretty please) do not have something automatically play when visitors land on your home page, such as music, a video, or a voice recording — you are outing the consumer when you do this and you’re likely to have them frantically searching for the mute button, or, worse, quickly bouncing from your site.

4. Fresh and useful content

Content is your not-so-secret weapon. The good news is, even though we know how important content is, most real estate professionals still are not providing fresh and useful information on their Web sites. What is useful content? Try to keep a local flair to a large part of what you post. Focus on the neighborhoods you work in (or want to work in) often. Talk about the local market statistics or events around town, spotlight a business, try a “man on the street” interview, or just showcase a subdivision or a section of a neighborhood. Nonlocalized content can be anything from real estate news to DIY projects and from FAQs to financing information. A mix of text, photos, and videos is ideal. Need ideas or fresh content that you don’t have to write or record? Check out HouseLogic from NAR at members.houselogic.com for free and shareable content. When in doubt, just ask. I recently had an agent call Zillow to see about reposting an article from the Zillow blog – they were cool with it provided she gave credit to the author and a link back. (Video screenshot courtesy of Stephanie Crawford, a REALTOR® in Nashville, Tenn. – www.NestingInNashville.com)

5. Add links to your content

Use links on your home page to provide the visitor with a deeper dive into your site. For your Web site to have value, set up your home page as the portal that allows users to easily move through to the internal pages of your site. This can be accomplished in two ways – have clear menus with obvious navigation and add in links to your existing home page content.

6. Use the video stick

These days, we prefer to watch our Internet rather than read it. Look at this shift as an opportunity. I know that many of you have already ventured into video by highlighting your listings and your community or maybe even creating a profile video. Embedded video or video that will play on the page is a big win right now. As video continues to rise in popularity, adding an embedded video or playlist is a great way to increase both traffic and the time visitors spend on a page as well as to build rapport with visitors. Videos make your home page stickier by keeping the visitors engaged for longer periods of time. If you have the right search engine optimization behind your videos, you can increase traffic to your site as well.

7. Social media HAS to be part of your Web strategy

By this, I mean more than just linking to your Facebook business page and LinkedIn profile. In fact, you might be better off downplaying those profiles so you don’t lose visitors to the social media suck. “Share this” buttons or a similar solution should be on all of your content pages, if possible, and woven throughout your site in a meaningful way. “Share this” is simple to set up and allows users to share your content on their network of choice. Use social media to drive traffic to your Web site – share your own content when you have a new post or page or if you just want to draw attention to a page on your site.

8. A word on SEO (or several words)…

Stop overthinking search engine optimization. Try to focus on your content above all else, and make a great experience for the consumer. I know that you have been taught that keywords and on-page SEO are important to a good search ranking – and they are, to a point. But don’t be keyword silly and pack your home page with the little gems. On-page SEO will only take you so far. If your site stinks, you might get the traffic from the on-page SEO, but you will lose the lead. For those who are link crammers … the same goes for you! If the experience stinks, you won’t get the business anyway.

So let’s review our best practices for your real estate Web site home page:

  1. Have a full IDX search, front and center
  2. Use calls to action and contact forms
  3. Be sure your design is clear and uncluttered
  4. Create or repurpose fresh and useful content
  5. Use links to drive them deeper
  6. Try the video stick
  7. Use social media to share and drive traffic
  8. Don’t overthink search engine optimization

Last but not least, remember, experience matters. Try to create a fantastic experience for your Web site visitor. There are lots of tricks to drive people to your site, but it’s another thing altogether to keep them there (and hopefully coming back). Don’t wait — begin optimizing your home page and get your Web site working for you today!

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via realtormag.realtor.org

Single Family Renters More Likely to Stay in Place | Bedford Hills Real Estate

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Single family home tenants are 18 percent more likely than apartment tenants to stay in their current homes five years or longer, suggesting that demand for single family homes, the fastest growing rental category, will be more stable than multifamily demand, according to a new national opinion survey released today by Premier Property Management Group.

One of every four (26%) single family tenant plans to stay in place five years or more, compared to one out of five apartment dwellers (22%), according to a new national survey of renters by ORC International for Premier Property Management.  Founded in 1938, ORC International is a leading global market research firm and since 2007 has conducted the CNN|ORC International poll.

One factor contributing to single family stability could be high marks renters give the quality of single family property management.  Some 80 percent of tenants in single family rentals said their property management was good or excellent compared to only 63 percent of apartment renters One out of four apartment dwellers (26%) rated their management as only adequate,

“With the emergence of the single family rental option, American families have a new housing choice that brings them the aspects of associated with owning their own homes important to families such as living space, privacy, safe neighborhoods and the sense of community- without the cost and risks of homeownership.  Single family rentals can be found in virtually every community today and more and more families are choosing single family rentals either as a temporary stop on the road to becoming homeowners or as a permanent solution to their housing needs,” said Chris Clothier, director of sales & marketing and partner of Premier Property Management.

Over half, 52 percent, of renters, including 60 percent of single family renters and 44 percent of apartment dwellers, said they anticipate becoming homeowners in the next five years.  Families with three or more members (64%) and children under 13 (69%) were more likely to become homeowners than the 43 percent who don’t plan to become owners.

Clothier said near term interest in becoming homeowners among single family tenants reflects the new roles single family rentals are fulfilling as a stepping stone to homeownership for first-time buyers and as a sanctuary for large numbers of families displaced by foreclosures but who plan to buy again when they can afford to do so.

Despite reports that difficulties getting financing are keeping many U.S. renters from becoming homeowners, the survey found that the inability to get a mortgage ranks only third of among the reasons renters don’t plan to become homeowners. Among those who do not anticipate becoming homeowners (43 percent of all renters), 29 percent say they can’t get a mortgage.  More renters report that they don’t want to buy a home because they enjoy being renters (40%) or they simply don’t want to be homeowners (39%).

Short term turnover rates for both multifamily and single family rentals over the next two years are 56 percent for multifamily and 59 percent for single family rentals. Apartments typically experience an annual 50 to 60 percent tenant turnover.

The survey also found:

  • Single family renters make more money and are nearly twice as likely to have children as apartment dwellers. Median income for a single family renter is $75-100,000 (66%) versus $50,000-75000 (51%) for a multifamily tenant. Single family households are larger; some 65 percent have three or more members compared to 32 percent of apartment households. Some 63 percent of single family households include children; only 34 percent of apartment renters have children living with them.
  • Most single family tenants are older, aged 35-44 (53%) compared to 14-34 (46%) and 65+ (61%) for apartment dwellers.
  • Compared to apartment dwellers, single family renters value neighborhood features important to children, such as parks and playgrounds (65% to 71%), good schools (72% to 82%) and safe neighborhoods (97% to 98%).
via realestateeconomywatch.com

Luxury Sales Approach Sellers’ Market | Bedford Hills NY Real Estate

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Top tier properties are getting close to ending their multi-year buyers’ market and quickly reaching a more equal balance between buyers and sellers, catching up with less expensive homes .

Since early December, the Institute for Luxury Home Marketing’s Market Action Index has risen 30 percent and is now only seven points away from reaching a seller’s market on a national level. The index, which is managed by Altos Research, measures available supply relative to the current level of demand.

“The ILHM national market is currently in the buyer’s market zone though not strongly so. The Market Action Index stands this week at 23 so luxury buyers should expect to find reasonable levels of selection,” the report noted. On December 2, the index stood at 16.

The ILHM National Luxury Composite Price has risen 2 percent since December 30, from $1,196,838 to $1,221,962, despite the slow winter season. Despite the fact that the number of new listings has increased 51 percent over the past six weeks, the average days on market at 204 has declined slightly, from 209 to 204. Luxury homes typically take longer to sell than less expensive ones and the ILHM average days on market (204) are much higher than Realtor.com’s January median of 119 days for all price ranges. The percent of properties with a price decrease, another sign of buyer dominance, has also decreased over the past six weeks, from 26 percent to 24 percent of all luxury properties.

The index is rising in nearly every one of the 31 markets tracked by the institute. The ten hottest luxury markets are Washington DC where the average days on market is 123; San Francisco DOM 140, Las Vegas DOM 142, Silicon Valley DOM 157, San Diego DOM 161, Austin DOM 174, Seattle DOM 176, Houston DOM 178, Atlanta DOM 183, and Phoenix DOM 191.

Brokers and agents around the country report accelerated sales around the country. “After a substantial slump in 2008-2010, migration to Florida is accelerating again and is expected to generate new jobs and boost the continuing recovery. Buyers of lavish mansions and luxury homes for sale led the wave of those heading into Florida at the beginning of 2013. In Sarasota County in December 2012, 47 homes and condominiums sold for over $1,000,000, a figure higher than any other 2012 month,” reported William True of Sarasota Real Estate.

via realestateeconomywatch.com

Initial Jobless Claims Down by 27,000 – Good economic news | Bedford Hills Real Estate

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In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses initial jobless claims.

  • Good news for the job market this week: initial unemployment insurance claims for the week ending February 9 dropped to 341,000, which is 27,000 claims lower than the previous week’s level.  Although the data is preliminary and gets revised higher nearly every week for prior week’s data, the drop in initial claims is larger than the usual weekly variation since January of about 18,000 claims.  This indicates that fewer people are starting a period of unemployment.
  • The level of weekly claims looks headed towards 350,000 from last year’s average level of about 375,000 claims. It is also a far cry from the peak level in 2009. Still, the pace of job creation has to accelerate to absorb those already unemployed into the market. As of February 2, about 3.2 million continue to receive unemployment insurance benefits.
  • The bottom line for REALTORS® is that the job market continues to make steady, if modest, gains. NAR projects 1.4 million non-farm net new jobs in 2013, one factor that can support 5.08 million existing homes sales.
via economistsoutlook.blogs.realtor.org

Foreclosures Re-infect Florida Markets | Bedford Hills Real Estate

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It’s deja vu all over again in Florida. In a virtual re-run of Florida’s housing economy, its foreclosure starts lead the nation, prices are falling and inventories are too big, especially on the coasts.

Florida posted the nation’s highest statewide foreclosure rate for the fifth month in a row in January, and also had the highest number of properties with foreclosure filings for the month, marking the first month since January 2007 that California has not had the highest number of properties with foreclosure filings, RealtyTrac reported today.

With one in every 223 housing units with a foreclosure filing in January, the Ocala, Fla., metro area posted the nation’s highest foreclosure rate in January among metropolitan statistical areas with a population of 200,000 or more. But that’s just the beginning of Florida’s woes.

The top 10 markets for foreclosures include five other Florida metro areas: Miami at No. 2 (one in 228 housing units with a foreclosure filing); Orlando at No. 3 (one in 241 housing units); Jacksonville at No. 8 (one in 301 housing units); Tampa at No. 9 (one in 307 housing units); and Lakeland at No. 10 (one in 332 housing units).

Florida also topped RealtyTrac’s list of best markets to buy a foreclosure. Five other Florida cities ranked among the Top 20 best places to buy foreclosures: Lakeland, Tampa, Jacksonville, Orlando, and Miami.

In 2012, Florida posted the highest foreclosure rate in the nation, eclipsing Nevada for the first time, according to RealtyTrac. Activity in Florida rose 53.5 percent in 2012 from a year earlier, as lenders stepped up activity following the Attorneys General settlement last spring. In many cases, court backlogs and faulty bank filings have drawn out foreclosures through years of delays. RealtyTrac reported a typical Florida foreclosure lasts more than 28 months, four times as long as in 2007.

Florida cities made terrific progress against foreclosures two years ago, as the “Florida Phenomenon” led the nation into recovery. But today the state is second worse behind Nevada in terms of its lack of recovery price declines since the 2007 housing crash. Including distressed transactions, Florida markets are 43.5 percent lower today than they were at the peak, according to CoreLogic.

While foreclosure inventories in markets like Phoenix and Las Vegas are so low that the foreclosure discount-the difference between full-price homes and comparable REOs-has virtually disappeared. In Miami, the discount is still 38 percent, sign that supply is outpacing supply. In Orlando, the discount is less, 19 percent, but it’s 35 percent in Tampa and 31 percent in West Palm Beach, according to data from Home Value Forecast.

via realestateeconomywatch.com