Tag Archives: North Salem NY Homes
Foreclosure Discounts are All Over the Map | North Salem NY Real Estate
The low prices that make foreclosures attractive to investors also make foreclosures toxic to communities and homeowners. The discount between “normal” priced homes and the prices paid for properties than have been through the foreclosure process can spell the difference between profit and loss to an investor at the same time that they drive real estate values into the ground.
As the Foreclosure Era enters its final years, the differences in foreclosure discounts vary widely across the nation, presenting opportunities to investors and wreaking havoc on homeowners simultaneously. With regional and local conditions playing a greater role than ever in shaping foreclosure supply and demand, the differences between local foreclosure discounts may be increasing to the surprise residents who rely upon reports of “national” average discounts.
FNC, one of the top sources of pricing data used by appraisers, calculated at national average discount of 12.2 percent at the end of 2012 versus 13.4 percent a year earlier. The National Association of Realtors said foreclosures sold for an average discount of 20 percent below market value in January. At the height of the mortgage crisis (2008 and 2009), foreclosed homes were typically sold at 25 percent below their estimated market value, said NAR.
Despite the progress in national average discounts, in a number of markets today foreclosures are worse now than they have ever been. A certain tier of markets, largely in the East and Midwest, are seeing discounts reach levels far below the 12.2 percent cited by FNC or the 20 percent from NAR. In real estate, where there is no national marketplace, the use of national averages sometimes can mask very different local realities.
Several factors, which differ by market, are keeping foreclosure discounts high in some markets. These include large inventories from the continued slow processing of foreclosure due to state laws; higher default and lower rents resulting from unemployment and economic fragility; less than ideal conditions for single family rentals, including low cap rates; overcapacity; and a disproportionate number of unsold damaged foreclosures (See Damaged Foreclosures Beckon Bargain-hunters); and less investor demand compared to the West and Florida, where a culture of small investors has developed and large hedge funds are active.
A Guide on How to Not Suck At Social Media Campaign Marketing! | North Salem Realtor
Campaign marketing starts with a mind warping process that often involves the creatives drinking shots of bourbon, taking long lunches and looking for inspiration at a movie. That is if you believe the 1960′s TV series Mad Men depiction of an ad agency.
The reality is often much more boring than that and can involve research on competitors, identifying the target market and clarifying the goals that need to be achieved for the campaign. Then add some seasoned experience of what works and what doesn’t to the mix gained through the cauldron of success and failures over the years.
Those of you with an interest in online promotion will undoubtedly have heard about the importance of social media networks such as Facebook and Twitter. However, you may not have any idea how to leverage these kinds of platforms for the maximum business benefit.
What Exactly Is A Campaign?
A campaign is defined in the Oxford dictionary as
“The process of working in an organized and active way towards a goal”.
It is often necessary to take a number of steps to the achievement of the overall objective. For example, a company that aims to build a loyal community of 10,000 Twitter followers will initially have the task of creating a positive online profile.
So – What Is Campaign Marketing?
Campaign marketing involves the promotion of a certain, product, service or business. It often entails the use of various channels, such as the internet, traditional newspapers and television. Companies often rely upon the effective establishment of marketing campaigns as a means of differentiation from the competition.
Multi-Channel marketing executed correctly can be a powerful combination and you only need to look at the success of the Old Spice campaigns that kicked off with the seeding on mass media and then took it viral with YouTube and Twitter.
Example of Campaign Marketing That Was Totally Kick-ass!?
Particularly innovative use has been made of the leading social networks in recent years. In 2011 the manufacturers at Belling promoted a number of ultra-short recipes via Twitter. And towards the end of 2012 the Melbourne Transport Authority released a humorous and highly popular Youtube video about the dumbest ways of dying.
However, the example that really stands out is the integrated billboard and social media campaign arranged by Nike to coincide with the London Olympics.
The well known sports brand placed numerous posters, featuring the pictures of ‘everyday athletes’ and the hashtag #McDStories to invite customers to leave comments about their love of Happy Meals.
Perhaps unsurprisingly, the campaign turned sour and people started to tweet about the shoddy service and foul food that they’d been served in McDonald’s chains.
So What Do I Need To Do To Not Suck At This?
There are 5 keys to a successful marketing campaign and it starts with taking a unique approach.
#1. Be Original
The Nike example shows the importance of taking a unique approach to social media marketing. It would have been very easy to follow the Adidas and use pictures of real Olympic athletes. However, by using images of ‘normal people’ Nike showed that they had a connection with the vast majority of people who purchase sports apparel.
Just remember that any attempts at differentiation should cast your company in a positive light.
#2. Engage With the Target Market
If you want to reach the types of people who will buy your product or service then it will be necessary to conduct some research. Find out which of the social networks they use on a regular basis. Then devise marketing campaigns that will be of genuine interest.
And make sure that you tread the fine line of communicating in the customer’s language without being patronising.
#3. Have Realistic Expectations
If you learned how to play a few guitar chords, would you expect to create the best piece of music in the world? Probably not. Unfortunately the same goes for the creation of online marketing campaigns. You’ll have to build up experience of what works and what doesn’t. And don’t be surprised if your company video doesn’t go viral overnight.
Having said that, success may come at the most unexpected of times!
#4. Use Platforms Other Than Twitter & Facebook
Research has revealed that Facebook has over 1 billion active monthly users, while Twitter has a mere 200 million. So it’s definitely worth creating integrated campaigns that target both of these networks. However, this doesn’t mean that you should ignore other forms of social media, such as Youtube or Google +. The famous Korean creator of Gagnam style and the ‘one pound fish man’ would definitely attest to this advice.
#5. Promote Your Products/Services Fairly
It is worth remembering that social media wasn’t invented for the purpose of brand advertising. Rather, it was an online tool that would enable people to connect and share the content that they particularly liked. So it’s fairly easy to understand why the users don’t like to be bombarded with targeted advertisements.
Outreach should be gradual and not overly promotional.
Guest Author: This post has been contributed by Martina Simon who works for Datadial which is a London based Web company who specialise in the creation of social media campaigns.
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Singapore to Raise Property Tax Rates for Luxury Homeowners | North Salem Real Estate
Singapore plans to raise taxes for luxury homeowners and investment properties, widening a four- year campaign to curb speculation after prices in Asia’s second- most expensive housing market rose to a record.
The higher tax will apply to the top 1 percent of homeowners who live in their own residences, or 12,000 properties, Singapore Finance Minister Tharman Shanmugaratnam said in his budget speech yesterday, without giving a definition of what constitutes a high-end home. The government will also raise tax rates for vacant investment properties or those that are rented out, he said.
Singapore joins Hong Kong in extending anti-speculation measures as low interest rates and capital inflows drive up demand and make housing unaffordable. Residential prices in Singapore climbed to a record in the fourth quarter as an increase in the number of millionaires drove up demand.
“The graduated property tax on luxury properties may impact investors, particularly corporates and high-net-worth investors,” Petra Blazkova, head of CBRE Research for Singapore and Southeast Asia said in a statement. “It may put pressure on the holding cost of investment properties held by developers and investors.”
The property index tracking 39 developers fell 1.2 percent to a one-month low at the close in Singapore. CapitaLand Ltd. (CAPL), Singapore’s biggest developer by assets, declined 1.5 percent to S$3.86. City Developments Ltd. (CIT), the second largest, slid 1.8 percent to S$11.15.
Hong Kong
Singapore’s latest efforts were announced three days after Hong Kong increased property taxes. The Hong Kong government last week doubled sales taxes on property costing more than HK$2 million ($258,000) and targeted commercial real estate for the first time as bubble risks spread in the world’s most expensive place to buy an apartment.
“The property tax is a wealth tax and is applied irrespective of whether lived in, vacant or rented out,” Shanmugaratnam said. “Those who live in the most expensive homes should pay more property tax than others.”
For a condominium occupied by the owner in Singapore’s central region with an assessed annual rental value of S$70,000 ($56,547), the tax will rise 5 percent to S$2,780, according to the budget statement. If that home is rented out, the tax will climb 21 percent to S$8,500, according to an example highlighted in the statement.
Based on a 3 percent rental yield, that property is worth S$2.3 million. Gains in levies for properties assessed at higher rental values will also increase at a faster pace, it said. For a house with an assessed rental value of S$150,000, worth S$5 million based on the same yield assumption, the tax will rise 60 percent to S$24,000. The revised taxes will take full effect from January 2015, according to the statement.
Singapore is Asia’s most-expensive housing market after Hong Kong, according to a Knight Frank LLP and Citi Private Bank report released last year that compared 63 locations globally.
‘Wealth Tax’
“It is a wealth tax,” Yee Jenn Jong, a non-elected member of parliament from the opposition Workers’ Party, told reporters. “There’s been a lot of people that have made a lot of money through property and the government is using that as a way to get additional revenue to offset certain goodies they’re giving to those in the lower income.”
Singapore has since 2009 imposed measures to cool the property market. The government last month said home buyers have to pay 5 percentage points to 7 percentage points more in stamp duties. It also imposed the added levies for permanent residents when they buy their first home, while Singaporeans will have to pay the tax starting with their second purchase.
Foreign Labor
In the budget, Singapore also tightened curbs on foreign labor for a fourth consecutive year, as the government seeks to reduce companies’ reliance on overseas workers amid a public backlash over the influx.
Increasing wealth in the island-state has contributed to rising property prices. Singapore’s millionaire households rose by 14 percent in 2011, according to a Boston Consulting study. The proportion of millionaire homes in the city of 5.3 million people was 17 percent, the highest in the world, followed by Qatar and Kuwait.
“From a progressive tax view point, it’s to be expected and probably quite fair,” said Tan Su Shan, managing director of wealth management at DBS Group Holdings Ltd., who’s also a nominated member of Parliament. “From a developers’ point of view, it’s yet another pill to swallow.”
To contact the reporters on this story: Pooja Thakur in Singapore at pthakur@bloomberg.net; Sharon Chen in Singapore at schen462@bloomberg.net
To contact the editor responsible for this story: Andreea Papuc at apapuc1@bloomberg.net










