Thursday, September 20, 2012

Just how big is the second home market?


Recent statistics from the Census Bureau reveal that nationally, about 3.5% of the housing inventory falls into the seasonal, recreational, or occasional use category.

The states that lead the list with the highest number of properties in these categories may surprise you.


Based on the 2010 Census (not released until almost the end of 2011) these are the most current stats available. Given slow new construction rates these numbers are still realistic.

Find more on housing data and statistics from the Census Bureau.

Article courtesy of Luxury Insights.

Thursday, August 2, 2012

Is there really any value in professional designations?

RISMedia has just published a great article ("Time for Summer Break or Summer School?") by Margaret Kelly, CEO of RE/MAX.  In it, Ms. Kelly highlights the value of education and professional designations.

As she puts it: "At RE/MAX, we’ve crunched the numbers, and without a doubt, education matters when it comes to productivity. In fact, last year, RE/MAX agents who held a CRS designation averaged $22,000 more in commissions than the overall RE/MAX average commission; CDPEs earned $15,000 more; ABRs $10,000 more. RE/MAX agents who held the CLHMS earned an astonishing $100,000 more on average!"

She goes on to say: "If you’re really serious about your business, prove it. Show your clients and your competition that you hold yourself to a higher standard. Show them you want to be the best you can possibly be. We couldn't have said it better ourselves. After all, our mission has always been to help real estate professionals provide high quality service to the buyers and sellers of luxury homes and in so doing, maximize their own success. See you in summer school! "

FAST FACTS about the world’s wealthy: The wealthy are back and ready to buy real estate

If you are seeing an increase in luxury buyers in your market, there are at least two good reasons why.
  1. The number of worldwide wealthy has recovered from the 2008 downturn, when the number of HNWIsplummeted from 10.1 million to 8.6 million in just one year. The current HNWI number has risen to a record 11 million

    Total wealth controlled by wealthy households has also increased since a five year low point in 2008, rising from $32.8 million to $42.0. 

    These statistics from The Capgemini/RBC World Wealth Report for 2012, offer good news for luxury real estate since demand for homes depends heavily upon the number of households who can afford them.

     
  2. The post-recession affluent are also in a home shopping mood. Research done last year by Barclay's found that 57% of HNWIs want to increase their residential property portfolios in 2012. This buying attitude is most likely a result of lifestyle desires as well as the view that residential real estate is an investment opportunity and smart portfolio play. 

    Here’s what one billionaire has to say about buying luxury property now. 

    “Trophy (property) assets are probably the most resilient and successful investment options at the moment, and will be for the foreseeable future.” 
    --John Caudwell, Billionaire , 2012

Friday, June 29, 2012

FROM YAHOO: 10 DIY Projects To Sell Your Home Faster

With the troubled housing market of the past five years and banks still reluctant to lend, its no wonder homeowners hoping to sell are sitting on the market for months at a time. Buyers, meanwhile, are trying to find a balance between their dream home and one that's affordable.

For those trying to sell a house, what are some quick and easy DIY projects that can help sell your home faster? We asked experts to share step-by-step instructions for completing projects bound to modernize your home, from resurfacing cabinets to eliminating home odors to re-caulking bathroom grout.

1. Create a welcoming entrance
If you don't immediately impress potential buyers as they enter the home, you're setting yourself up for a tough sell. Creating a welcoming entrance is arguably the most effective way to sell your home faster.

Doug Perlson, co-founder and CEO of RealDirect.com, shares the following tips for instantly improving curb appeal:
Remove weeds and make sure plantings are trimmed and don't appear overgrown.
Replace old address numbers with modern exterior ones. It’s a quick and inexpensive update.
Paint the front door and refrain from excessive decoration.
Part of what makes an entrance appealing is what you don't see. Specifically, your entrance should not be crowded with shoes, keys, mail, etc.

2. Mulch
Applying mulch to your front and back yards is another inexpensive way to make your home more appealing to buyers.

Jason Cameron, TV host and TruGreen partner, shares these strategies for mulching:
Apply a one- to three-inch layer of mulch – any thicker, and roots will begin growing in the mulch instead of the soil, making them susceptible to drought and low temperatures.
Check the depth of the mulch in your landscape beds. It should be two to three inches deep. Add more mulch if you do not have the minimum level in place, but do not exceed four inches. When rainfall is limited, mulch not only conserves soil moisture, but moderates soil temperature and helps deter weeds.
Make sure your mulch is not too close to the base or trunk of the plant, as it could cause decay and winter injury.

3. Eliminating odors
You may not notice odors in your home, but prospective buyers will.

Jill M. Banks of Happily Better After Room Redesign & Home Staging suggests using baking soda as a way to fight odors: "Baking soda is a natural odor neutralizer, so if a spot in the carpet still smells funky after cleaning, try sprinkling some baking soda on it, leave it for 15 minutes or so, then vacuum."

She says baking soda can also be used in garbage disposals, trash cans, washing machines and refrigerators to knock out mystery smells.

4. Resurfacing cabinets
Replacing your cabinets is undoubtedly a major expense and will likely require a professional to complete. Resurfacing your cabinets is a cost-effective way to spruce up your kitchen, though.

Design expert Kathy Peterson offers the following steps to a perfect cabinet:
Step 1: Remove hardware, doors and drawers.
Step 2: Clean the surface.
Step 3: Deglaze it with liquid sand, then clean again.
Step 4: Paint and, depending on the style you're looking for, add a tint over the paint (design kits can help you with this).

5. Baseboard repairs
The baseboards in your home are subject to plenty of wear and tear over the years. To make some easy repairs, Frank Foti, business manager adviser for Mr. Handyman, offers these tips:
Strike nails flush with face of trim board using a nail punch or awl tool.
Patch holes and/or small cracks/dents with wood filler; sand; re-paint.
Caulk or re-caulk top of trim to wall.

Article Courtesy of Yahoo.

Tuesday, June 19, 2012

Keller Williams Realty Dominates the 2012 Real Trends 500!

Keller Williams dominated the REALTrends 500 Report. Agents, tout your top-notch status with your sphere. Leadership, spread the word that you are the clear winners in your market!