HomeGain’s recent survey shows the top do-it-yourself home improvements that Realtors recommend to home sellers. HomeGain received responses from nearly 1,000 Realtors nationwide and configured a list of the top 12 do-it-yourself (DIY) home improvements that cost under $5,000 and benefit sellers most when they sell their homes. 

According to the HomeGain survey, the top five home improvements that Realtors recommend to home sellers based on cost and return on investment (from highest to lowest ROI) are: 

1. Cleaning and de-cluttering ($200 cost / $1,700 price increase / 872% ROI)
2. Home staging ($300 cost / $1,780 price increase / 586% ROI)
3. Lightening and brightening ($230 cost / $1,300 price increase / 572% ROI)
4. Landscaping ($320 cost / $1,500 price increase / 473% ROI)
5. Repairing plumbing ($385 cost / $1,250 price increase / 327% ROI) 

Cleaning and de-cluttering continues to rank as the top suggested home improvement (since the survey was originally conducted in 2000), recommended by 98% of Realtors, costing less than $200 and returning a value of nearly $1,700 to the home’s sale price, or an 872% return on investment. 

“Many Realtors agree, especially in a buyer’s market, that sellers who make these recommended home improvements often get their homes sold faster and at higher prices,” stated Louis Cammarosano, General Manager at HomeGain. “We have customized our Home Sale Maximizer online home improvement tool to help identify and prioritize the projects that can increase the salability and selling price of a home.” 

Rounding out the top 12, the list of low cost, do-it-yourself home improvements includes: updating electrical, replacing or shampooing carpets, painting interior walls, repairing damaged floors, updating kitchen, painting outside of home, and updating bathroom/s.

The home improvement projects with the highest price increases to a home’s resale value are updating the kitchen ($1,200 cost / $2,850 price increase), followed by painting the outside of the home ($900 cost / $1,815 price increase) and home staging ($300 cost / $1,780 price increase). 

“Inexpensive cosmetic home improvements and basic improvements greatly enhance the value of the home,” stated Carol Wilson of Carpenter Real Estate in Indianapolis, IN, HomeGain AgentEvaluator member since 1999. 

For more information, visit www.homegain.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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This year’s faciliators and panelists not to be missed, include:

Facilitators
John Featherston, President & CEO, RISMedia; Chairman & Co-founder, RISMedia’s Top 5 in Real Estate Network
Allan Dalton, President & Co-founder, RISMedia’s Top 5 in Real Estate Network

Panelists
Gino Blefari, Founder, President & CEO, Intero Real Estate Services
Tami Bonnell, President, U.S. Organization, EXIT Realty Corp.
Jon Cook, President & CEO, Prudential California Realty
Jeff Davi, Real Estate Commissioner, State of California
Lawrence Lobpries, Marketing Director for Specialty Sales, Lowe’s Companies, Inc.
Rei Mesa, President & COO, Prudential Florida Real Estate Services
Spencer Rascoff, COO, Zillow
Rick Sharga, SVP, RealtyTrac
Mark Stark, Broker/Owner, Prudential Americana Group
Dennis Walsh, Founder, REbuildUSA™ Membership Network

All NAR full-conference and day-conference attendees are encouraged to attend this important discussion Friday, Nov. 13 from 12:30-2 p.m. at the San Diego Convention Center during the NAR conference.

Why should you attend? Each year, attendees walk away from the Power Broker Forum with tremendous insight into the best practices that have made our panelists the Power Brokers industry leaders they are today. In addition, you will have an opportunity to pose a question or two to these industry power players so make sure you’re prepared.

This year, the Forum will focus on how industry professionals can form strategies and excel in working with distressed properties, such as foreclosures, REOs and short sales.

RISMedia has an additional session on “Staying Up in a Down Market: Short Sales, Expireds & Price Reductions,” on Saturday, November 14 from 1:30-3 p.m. at the San Diego Convention Center during the NAR Conference. Once again, all NAR full-conference and day-conference attendees are encouraged to attend, however, the subject matter is geared toward agents.

This session will help Realtors clearly identify and explain short sales, expireds and price reductions to their clients, while also explaining their own understanding of the subject matter and how they will assist those clients. Realtors will also learn how they can use various marketing techniques to acquire more listings and how to implement a marketing strategy that benefits their own business, while also educating consumers on the nuances of today’s market.

Here is the breakdown of speakers at the Saturday session:

Facilitator
Allan Dalton, President & Co-founder, RISMedia’s Top 5 in Real Estate Network

Panelists
Becky Boomsma, Realtor, Coldwell Banker Residential Brokerage
Valerie Fitzgerald, Realtor, The Valerie Fitzgerald Group, Coldwell Banker Beverly Hills
Julie Vanderblue, President, The Higgins Group
Rosemary West, Team Leader, The Rosemary West Team, RE/MAX of Joliet

For more information contact Stephanie Andre at Stephanie@rismedia.com or 203-855-1234 ext. 141 or visit http://rismedia.com/events/power-broker-forum-annual/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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RISMEDIA, November 10, 2009—That is one of the most common objections to purchasing real estate where there is a community Association requiring the payment of regular dues and fees. These can range from less than a hundred dollars per month, if for example the only service is streetscaping, to upwards of a couple of thousand dollars for a luxury penthouse. Depending on square footage and amenities, most fees range between $250 and $750. 

Taken out of context, the amount can seem outrageous. But, when considered from a prospective of value received, you can be pretty certain that you are getting one of the last great bargains. 

When evaluating the HOA monthly fee, it is important to consider three things: how was the number arrived at, what does it cover, can anything be done for less? 

1. How is the HOA fee determined? 

In California, and probably most other states, developers must obtain state approvals before their projects can be offered to prospective buyers. Part of the submission process for developments with an Owners Association is the creation of a detailed budget for the operation and maintenance of the common area and the provision of necessary services. 

Developers want to project the most positive scenarios in order to keep HOA dues low and not discourage prospective buyers. And, they are also aware that a $500 per month Association fee equates to another $100,000 that the buyer could have spent for the home. The higher the Association fee, the less the borrower/buyer can spend. 

On the other side, the State wants to establish a realistic budget that will allow for proper funding well into the future. For the consumer, that process of compromising means that the budget is as realistic as it can be at the time it was created. 

The main thing to keep in mind is that the developer will be paying the Association fees on all unsold property within the Association. The developer is not the one benefiting from high fees so there is no reason to blame them. 

2. What does the HOA fee is cover? 

It’s also important to consider what is included. Amenities very widely from project to project; high-rises cost more to operate and maintain than low rise buildings. 

One of the responsibilities associated with real estate ownership is the obligation to maintain and protect the improvements from deterioration, damage, weathering, etc. Living out in the burbs you need a garage full of tools and a lot of weekends to stay ahead of nature. 

Depending on the type of development, there could be a need for a lot of landscape maintenance. That takes labor, and labor is expensive 

If there are common areas such as a lobby, pool, gym, or even hallways, they need to be cleaned regularly, maintained occasionally, painted often, and replaced over time. Garages must be swept and windows washed. 

Then there is liability, property and other forms of insurance, and possibly a security force. 

What utilities are included? Are water, sewer, electric, gas, trash and cable billed individually or are some paid collectively through the Association? 

Then there is usually a management Association looking after things, paying the bills, and communicating all of that to the homeowners. 

3. Can it be done for less? 

Add it all up and you’ll see that the economies of scale allow for a high level of service at a true cost far lower than you could do it yourself. 

And remember, it is your building and your Association. You want to protect your investment and to have the kind of amenities that will allow for profitable reselling in the future. Serve on your Association board. If you can economize, you can lower your HOA fee. 

But, don’t lose sight of the fact that you are paying for important services with a volume discount. It isn’t just an expense; it’s protecting your investment.

George W. Mantor is known as “The Real Estate Professor” for his wealth building formula, Lx2+(U²)xTFP=$? and consumer education efforts. During a career that has spanned more than three decades, he has amassed experience in new home and resale residential real estate, resort marketing, and commercial and investment property. He is currently the founder and president of The Associates Financial Group, a real estate consulting firm.

Mantor can be reached at GWMantor@aol.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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“Policymakers should also be lauded for working successfully to expand the five-year net operating loss ‘carryback’ period for companies – essential tax relief that will increase liquidity and allow companies to make new investments, sustain R&D and maintain and create U.S. jobs. 

“Timely, temporary and effective, these measures are exactly the sort of fiscally responsible stimulus action we need to ensure long-term U.S. economic growth. We are encouraged by the swift action by President Obama and the House of Representatives following the Senate’s passage, and look forward to similar bipartisan measures in the future that can nurture and sustain the young roots of recovery,” said Richard A. Smith, president and CEO of Realogy Corporation and Chair of Business Roundtable’s Housing Working Group. 

For more information, visit www.businessroundtable.org. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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Prudential Florida Real Estate Services has been ranked: 

#1 Prudential Affiliate in Florida; #1 Wells Fargo Joint Venture in Florida; #1 First American Title Agent Partner in Florida; #1 Sunshine Kids Fundraiser in Florida. 

The level of commitment and quality of our people has placed us in a lead position for growth, strength, success and generosity which will provide us a solid foundation to build on for years to come. 

Much of the company’s strategic growth can be rightly credited to the passion and dedication of President and Chief Operating Officer, Rei Mesa, who celebrates 10 years with Prudential Florida Realty on December 17th. Under Rei’s leadership, Prudential Florida Real Estate Services has become one of the most influential and highly respected real estate companies nationwide. 

“Rei has been an inspiration to many employees and managers of both the Real Estate Services and WCI groups. He is one of the hardest working and most passionate managers I have been associated with. He is an authentic leader in the Real Estate Brokerage business throughout the state and the country,” said David Fry, president and CEO, WCI Communities, Inc. 

The following Prudential Florida Real Estate Services team members who are celebrating their 10-year anniversary include: 

Rei Mesa – President & C.O.O.
Brigid Peterson, Vice President, West Coast & Central Regions
Sharon Sapp- Vice President, Business Development, Relocation, Referrals, & REOs
Kelly Davis- Senior District Manager, Florida Title & Guarantee
June Prophet- Director of Property Management
Bonnie Peters- Managing Broker, Prudential Florida Realty Stuart Branch Office
Rita Bravo- Rental Manager, Property Management
Karen Kemmerer- Administrative Assistant, Prudential Florida Realty Marco Island Office
Deborah Alvord- Administrative Assistant, Prudential Florida Realty Stuart Branch Office
Marcia Soforenko- Senior Title Representative, Florida Title & Guarantee
Joan Liebeck- Senior Title Representative, Florida Title & Guarantee 

For more information, visit www.prudentialfloridarealty.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

“The Tri-Real-A-Thon Award outlines the three most important avenues of real estate in our company; listings, sales and sponsoring, said Morris. We’ve outlined specific parameters where our associates are put to the test and only one can come out on top.” 

In order to qualify for this prestigious designation, EXIT Realty associates must achieve a minimum of 24 sales ends, 35 listings and 4 people sponsored, all within the award period of July 1st to June 30th of the current year. Despite the challenges faced by the real estate industry over the past couple of years, Hoobler smashed these minimum qualifiers to take EXIT Realty’s top award. 

“Winning this award means a lot to me,” said Hoobler. “Hard work and placing systems into action allows me to be able to do a high volume. I am actually going to raise the bar higher for next year. I knew I was in the running and had a good shot at this award.” 

For more information, visit www.exitrealty.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

The initiative widens the exposure of “For Sale” Southwest Florida property listings online by leveraging Point2’s syndication and re-syndication network of nearly 40 high traffic search engines, real estate search sites and media websites to maximize listing visibility with prospective buyers. According to the company, a simple dashboard provides participating brokers and agents with complete control and choice over syndication destinations, on a listing basis, and enables them to track traffic results generated on key websites. 

“The partnership with Point2 will enable our brokers and their agents to maintain profitability and grow their businesses, while protecting their listing assets,” said Suzanne Sherer, Association president. 

“It’s exciting to see the real estate industry take back its future by way of organized and supervised dissemination of listing data to the Internet and beyond, with Point2 participating as a key enabler of this progress,” said Saul Klein, chief executive officer, Point2 Technologies Inc. With Point2 syndication, we are enabling organized real estate to empower real estate professionals on the ground with control over when and where their listings are published online, on the most popular websites, while ensuring leads generated from the listings are directed to the respective listing owner.” 

For more information, visit www.Point2.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Year-over-year home values in the United States declined for the 11th consecutive quarter, falling 6.9% to a Zillow Home Value Index of $190,400. However, the rate of year-over-year decline shrank for the third quarter in a row, meaning home values did not decline as dramatically year-over-year in the third quarter as they did in the second or the first. 

In addition, the Zillow Home Value Index remained relatively flat in the short term, declining 0.4% from the end of the second quarter to the end of the third quarter. The Zillow Home Value Index measures the value of all homes in an area, and the Q3 Zillow Real Estate Market Reports encompass 156 metropolitan statistical areas (MSAs). 

Foreclosure re-sales remained high, making up more than one-fifth (21.4%) of all U.S. home sales in September, and made up the majority of sales in several MSAs including the Merced, Calif. MSA (74.2%), the Stockton, Calif. MSA (69.3%), the Madera, Calif. MSA (68.7%), the El Centro, Calif. MSA (68.1%) and the Las Vegas MSA (67.5%). Additionally, 26.9% of home sales nationwide sold for less than what the seller originally paid. 

“The decline in the percentage of homeowners with negative equity is a positive sign, and is directly attributable to the stabilization of home values from the second quarter to the third,” said Zillow Chief Economist Stan Humphries. “It is also attributable to many homeowners who were previously underwater on their mortgage losing their homes to foreclosure. 

“The next several months will be critical to the housing market. Previously, we’d been expecting to see increasing foreclosure rates during the real estate market’s slow winter season, a confluence of events that would likely drive inventory up and prices down. But now, with the extension of the $8,000 first-time homebuyer tax credit and a new $6,500 credit for some repeat homebuyers, we could see a bump in demand that could partially offset the increased supply of foreclosed homes on the market. The credits are likely to bring continued stabilization in prices over this period, versus the price declines that we almost certainly would see otherwise. Whether this stabilization will be sustainable after the tax credits expire, however, is yet to be seen. Some of the demand that we are buying with tax credits we are also borrowing from the future, and will likely have to pay for later in the form of weaker-than-normal demand.” 

Some markets across the country showed encouraging signs in the third quarter. Home values increased year-over-year in 24 of 156 MSAs and remained flat in an additional 16. Only nine MSAs – including the Merced, Calif., State College, Penn., and Salisbury, Md. MSAs – showed increasing year-over-year declines. 

The Milwaukee and Boston metropolitan statistical areas were the largest markets to show positive year-over-year changes in home values, with the Zillow Home Value Index rising 2.6% in Milwaukee and 1.6% in Boston. 

For more information, visit www.Zillow.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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The extension is part of a $24 billion economic stimulus bill that will extend the $8,000 tax credit for homebuyers who are purchasing their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate. 

The following details apply to the homebuyer tax credit expansion: 

Who is Eligible
-First-time homebuyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, may be eligible for up to an $8,000 tax credit.
-Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence (“repeat buyer”), may be eligible for up to a $6,500 tax credit.
-All U.S. citizens who file taxes are eligible to participate in the program. 

Income Limits
Homebuyers who file as single or head-of-household taxpayers can claim the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers) if their modified adjusted gross income (MAGI) is less than $125,000.
-For married couples filing a joint return, the combined income limit is $225,000.
-Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.
-The credit is not available for single taxpayers whose MAGI is greater than $145,000 and married couples with a MAGI that exceeds $245,000. 

Effective Dates
-The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010. 

Types of Homes that Qualify
-All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation home and rental property purchases do NOT qualify. 

Tax Credit is Refundable
-A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.

-For example:
-A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
-A repeat buyer who owes $5,000 would pay nothing to the IRS and receive $1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).
-All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return. 

Payback Provisions
The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase. 

The www.federalhousingtaxcredit.com site is being updated. Check the site next week for more detailed information on the new tax credit. 

For more information, visit www.nahb.org. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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Example 1:
Jane purchased a home in 2002, lived there for 5 years as her primary home, moved out in 2007, and turned that home into a rental property. If Jane decides to buy a new primary residence today, she would qualify for the $6,500 tax credit based on the fact that she lived in the same residence as her primary home for at least five consecutive years out of the past eight.

Example 2:
Harry purchased a home in 2004, and lived there for the past 5 years as his primary home. If Harry decides to buy a new primary residence today, he would qualify for the $6,500 tax credit based on the fact that he lived in the same residence as his primary home for at least five consecutive years out of the past eight.

Example 3:
Nicole purchased a home in 2006, and lived there for the past 3 years as her primary home. If Nicole decides to buy a new primary residence today, she would not qualify for the $6,500 tax credit based on the fact that she did not live in the same residence as her primary home for at least five consecutive years out of the past eight. 

The tax credit applies to homes purchased for less than $800,000 before May 1, 2010. “If you sign a binding contract to purchase a home before May 1st, you would need to close on the transaction before July 1, 2010,” Nicholas said. “It works kind of like a gift certificate that can be redeemed for cash. You simply file a form with the IRS right after you buy your home, and the IRS will send you a check for the full amount of your credit.” 

The income limitation for single tax payers went up from $75,000 under the old rules to $125,000 under the new rules. For married tax payers, the income limitation went up from $150,000 to $225,000. “This means that more people will qualify for the credit – especially in parts of the country with higher costs of living,” Nicholas said. “This should help stimulate parts of the housing market that may not have been impacted by the old version of the credit.” 

There are many creative ways of structuring your home purchase transaction in ways that maximize the benefits of the credit. Here are a few examples: 

-The credit applies to 1-4 unit homes as long as you live in one of the units as your primary residence – you could live in one unit and rent out the others

-If two unmarried individuals buy a home, and only one of the individuals qualifies for the credit based on their income or past home ownership status, the individual who qualifies for the credit can claim the full credit. (Note: In the case of married couples, both spouses must qualify for the credit).

-The credit applies even if you have co-signers on your mortgage loan 

For more information, visit www.CMPSInstitute.org. 

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Special Session FAQs: 

What Is This Session About?
Staying Up in a Down Market–led by Top 5 in Real Estate President & Co-founder Allan Dalton–will delve into making the most and becoming the most successful in dealing with short sales, expireds and price reductions. 

Who Can Attend?
All NAR full-conference and day-conference attendees are encouraged to attend, however, the subject matter is geared toward agents. 

Why Should I Attend?
For these reasons:
1. This session will help Realtors clearly identify and explain short sales, expireds and price reductions to their clients, while also explaining their own understanding of the subject matter and how they will assist those clients.
2. Realtors will learn how they can use various marketing techniques to acquire more listings.
3. Attendees will learn how to implement a marketing strategy that benefits their own business, while also educating consumers on the nuances of today’s market. 

When/Where Is Staying Up in a Down Market?
This session will be held on Saturday, November 14 from 1:30-3 p.m. at the San Diego Convention Center during the NAR Conference. This session will be held in Room 29 A on the Upper Level. 

Who Is On the Panel?
Here is the breakdown of speakers: 

Facilitator–
Allan Dalton, President & Co-founder, RISMedia’s Top 5 in Real Estate Network 

Panelists–
Becky Boomsma, Realtor, Coldwell Banker Residential Brokerage
Valerie Fitzgerald, Realtor, The Valerie Fitzgerald Group, Coldwell Banker Beverly Hills
Julie Vanderblue, President, The Higgins Group
Rosemary West, Team Leader, The Rosemary West Team, RE/MAX of Joliet 

Do I Need to Register?
No, registration is not required. As long as you are an NAR day-conference or full-conference attendee, there is open seating and no additional information is needed. 

What If I Have More Questions?
Contact Stephanie Andre at stephanie@rismedia.com or 203-855-1234 x141. 

For more information on all RISMedia events during NAR, visit http://rismedia.com/events/power-broker-forum-annual/power-broker-forum-whats-it-all-about/

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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Jim Dohr
President
Coldwell Banker Gundaker
St. Louis, Missouri 

Region served: Saint Louis metropolitan area
Years in real estate: 32
Number of offices: 27
Number of agents: 2,100
Average sales price: $200,000
Average time on market: 100 days
Best tip for dealing with difficult customers: Practice the Golden Rule and put yourself in the other person’s position. Always treat the customer right and everything else will take care of itself.
Keep meetings productive by…Starting and ending on time. Also, have an agenda and stick to it.
Key to staying profitable: You have to be willing to make tough decisions and do the right thing no matter what. When making these decisions, remain objective and remove emotion from the process as much as possible. 

What is your biggest challenge in today’s market and how is your company taking it on? Our biggest challenge is staying profitable in today’s declining market. We are coping with this challenge in that we are willing to look hard decisions in the eye and make them, but at the same time, remain sensitive to maintaining the company culture. With each decision we make, we focus on how it will affect our agents’ attitudes and employee morale. Keeping our company culture intact is crucial in today’s market. 

What’s your best strategy to get buyers to see a listed home? Our three best strategies to get buyers to see listed homes are to price it correctly, increase the commission payout that goes to the cooperating broker and have a comprehensive Internet marketing strategy. 

What are your best marketing techniques? Everything we do drives traffic to our website. Whether we use print advertising, billboards or TV, we direct everyone to our website because that is where the action is. 

How are you keeping consumers educated about today’s buying opportunities? We have a very interactive PR campaign taking place at the moment in which we are conducting interviews on radio, TV and through print. In addition, we spend a lot of time educating our agents and providing them with the tools they need, such as statistics and hard data so they can educate consumers from their end. 

How do you keep your agents motivated? Keeping our agents motivated starts with communication. We are always in touch with our agents, providing them with hard data and statistics and then using the data to find positive stories about the current market. We also conduct numerous workshops and hands-on training to help our agents focus on what is in their control. The workshops focus on relationships and basics like selling 101. We present ideas to enable our agents to work harder and smarter. 

What are the advantages to being able to offer your customers home warranties? The home warranties that we provide through American Home Shield have been a great tool for us. Statistics show that when a home has a warranty, it sells 23 days faster, on average, in addition to the price being 4% higher, on average, as well as the final price being closer to the listing price. Home warranties give our buyers peace of mind especially in today’s market, and they have been a huge advantage for us. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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“I attribute the influx of new franchises to today’s dynamic real estate market which truly highlights the value for real estate professionals to be aligned with a strong parent company that supports them with relevant tools and training,” says Rich Rector, owner and executive chairman of Realty Executives International, Inc. “There is a new reality in real estate. We have a sound business model and clear perspectives on the industry and the consumer, in local markets and around the world, which positions us well now and for the future.” 

The training curriculum included the following topics: Realty Executives International’s history and vision, budgeting, technology, proformas, business planning, accounting, CRM, communications and public relations, marketing and advertising and recruiting to name a few. Rector adds that perhaps the most significant value of the franchise training event is the opportunity for franchisees to expand their network of real estate professionals globally. 

For more information, visit www.RealtyExecutives.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

This year’s conference is themed, “Chart A Winning Course” and involves four days of intensive training for brokers, sales agents, commercial practitioners, IT professionals, international specialists, property managers and more—with 200 programs in all. 

“Ten years ago we started out as a virtual tour company, and about three years ago we changed our own paradigm and went directly to the online consumer” said Glade Jones, Obeo president and CEO. “What they told us became the catalyst of how we re-created our strategies to meet their online needs. They wanted a more personal experience with the online listings to include the ability of changing the color of walls and changing flooring. No other company in the real estate vertical provides this capability, and we are proud of the success that has come with that.” 

For more information, visit www.Obeo.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

The annual College HPCI released by Coldwell Banker Real Estate LLC provides an apples-to-apples comparison of similarly sized 2,200 square foot, four-bedroom, two-and-a-half bathroom homes in college markets home to the 120 Football Bowl Subdivision schools. This year, Akron, Ohio (University of Akron) is ranked as the most affordable college town, where a typical four-bedroom home costs $121,885. Muncie, Ind. (Ball State University) took the No. 2 spot at $144,996. Ann Arbor, Mich. (a quintessential college town home to the University of Michigan) came in as the No. 3 most affordable college market, where the sample size home only costs $148,000. 

Overall, the 2009 College HPCI revealed that real estate buyers can find a typical four-bedroom home for less than $250,000 in 62% of the college markets surveyed (72 total), including iconic American college towns such as: 

-Syracuse, N.Y (Syracuse University): $171,711
-South Bend, Ind. (University of Notre Dame) $183,938
-Athens, Ga. (University of Georgia): $205,862
-Oxford, Miss. (University of Mississippi): $212,000
-Knoxville, Tenn. (University of Tennessee): $223,850 

Further research indicates that the charm and affordability of college towns is appealing to more than just students. According to the U.S. Census Bureau’s 2008 American Community Survey; Austin, Texas (University of Texas), Provo, Utah (Brigham Young University), and Raleigh, N.C. (North Carolina State University) were among the metropolitan cities with the greatest population growth in 2008. In all three rising cities, home buyers can find a four-bedroom home for very a reasonable price; only $226,642 in Austin; $231,000 in Provo; and $241,462 in Raleigh. 

“College markets have long-been one of the real estate industry best-kept secrets,” said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC. “Real estate professionals have been investing in college towns for years, often purchasing homes for their children who are attending school. However, these vibrant cities are not only for students; many empty nesters and families are attracted to the health care systems, culture and overall quality of life that college towns offer.” 

While real estate in college markets may be an undiscovered gem, pride for teams and alma maters are definitely not under-wraps, regardless of how pricey the school or city. For an added perspective, Coldwell Banker asked fans to share “what’s best” about living in their college towns for its new Coldwell Banker On Location video: http://www.youtube.com/watch?v=E0S7eKOih7k. 

More expensive college towns are also worth the investment for many people. For example, students have been competing for years to get accepted into prestigious schools like Stanford University, despite its high tuition and cost of living. Located in the most expensive college market in the nation (Palo Alto, Calif.), an average 2,200 square foot home costs a whopping $1.49 million. 

2009 Coldwell Banker College HPCI – Highlights & Interesting Real Estate Related Facts: 

This year, there is a $1,367,841 price difference between the sample size four-bedroom home in the most affordable college town (Akron, Ohio) and most expensive college market (Palo Alto, Calif.). 

Five schools with football-teams-to-watch this year currently ranked in the BCS top 25 standings are also front-runners for home buyers:

-Fort Worth, Texas (Texas Christian University), $153,450
-Houston, Texas (University of Houston), $159,847
-Cincinnati, Ohio (University of Cincinnati), $189,750
-Boise, Idaho (Boise State University), $215,432
-Iowa City, Iowa (University of Iowa), $217,500 

The Mid American Conference is the most affordable conference overall, where a typical four-bedroom home costs an average of $182,322.

For more information, visit www.coldwellbanker.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Kevin Faherty
Vice President of Operations and Sales
Centralized Showing Service
www.feedbackcentral.com 

Almost universally, sellers are instructed by their listing agents to make sure their house is clean and “showable.” Many sellers go to great efforts to pick up dirty clothes, organize, put the dogs in the car, turn on all the lights and bake cookies before the next showing in hopes that this showing will sell their home. 

The seller leaves their home with all the common fears of having strangers inside their home—evaluating them, seeing how they live, and judging whether their home is “worthy.” When the showing is over and the seller comes home, they wait. And wait. And then they wait some more. 

After going through all that trouble, sellers invariably want to know how the showing went. What did the buyer like? What didn’t they like? They’re usually willing to do whatever is necessary to make a sale happen—whether with the current buyer or a future buyer—but in order to make these changes, the seller needs feedback provided in a professional way. 

Many listing agents dutifully try to get feedback from the showing agent, but the showing agent doesn’t respond, even after repeated e-mails and calls. Some listing agents don’t even try. 

As an industry that promotes its professionalism—nay, sells its professionalism—to the public, it is crucial that agents make an attempt to provide feedback on showings. Not only will this improve the Realtor image, it will also assist sellers in upgrading their properties and changing their behavior. The combination of these factors can result in a faster sale. Everyone benefits. 

Some agents fear that providing feedback may someday come back to haunt them. After scheduling close to 50 million showing appointments, Centralized Showing Service, Inc. (CSS) has never had an instance where professionally provided feedback, positive or negative, has caused the showing agent to regret providing it or the listing agent from passing it along. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

October also marked the sixteenth consecutive month-over-month decline in the total number of home listings, based on combined Multiple Listing Service (MLS) data from these 27 areas where ZipRealty operates. 

Other highlights from ZipRealty’s October Housing Inventory Index include: 

-The combined number of MLS-listed single family homes and condos within all 27 major U.S. markets in October 2009 totaled 593,794, down from 611,026 in September 2009.

-Two Arizona markets experienced an increase in inventory in October compared to September, as Phoenix inventory increased by 4% and Tucson inventory increased by 2%.

-Markets with significant month-over-month inventory declines include Las Vegas (5.8%), Minneapolis (5.3%) and Chicago and Seattle (5% each). Median sale prices continue to decline in each of these markets.

-Markets on the West Coast led the list of the largest year-over-year declines in home inventory, including Los Angeles (56.3%), San Diego (55.1%), San Francisco Bay Area (51.1%) and Las Vegas (50.7%). 

For more information, visit www.ziprealty.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Flexibility may be the buzzword of the millennia. Flexible schedules, flexible work hours, flexible space—Americans are regaining control by rearranging the flow of their day-to-day lives. Very few of us lead cookie-cutter lives, so cookie-cutter home solutions don’t always work. If every family has a unique configuration and life pattern—consider single moms, empty nesters with visiting kids and grandkids, families with young children, multigenerational families—shouldn’t the architecture that surrounds them be flexible enough to accommodate their needs? The opportunity is to identify houses that offer “adaptable possibilities” and develop talking points aligned with your client’s situational needs. 

Buying a home today is an emotional, economic and deeply considered purchase. That home will be a base station for family, friends, neighbors, school, work and play and its layout and traffic pattern will need to accommodate the “busy-ness” of life. As buyers imagine themselves in a potential home, adaptable space may be a selling point over and above simple staging. Here are a few spaces to consider: 

-Kitchen: We cook, we do homework, we entertain, we do crafts there. Open or co-located areas for simultaneous activities and multiple people usually top the wish list. If space is limited, suggest a corner of the kitchen or an adjoining dining room as a homework/conversation area.

-Open, accessible plans: If your client is single, an open plan delivers a great space for entertaining. An older or multi-generational family may view it in terms of accessibility. Either will have visiting family members, so having a “visitable” home offers the opportunity to welcome anyone regardless of age or ability. One zero-threshold entry, wide doorways and a main floor bathroom offer ease of use and accessibility whether you’re unloading groceries or have a temporary or permanent physical impairment.

-Home office/library/reading space: Part of a dining room, den, extra bedroom or even an extra closet can be furnished to create a small space for quiet activities. Bookcases lining a wall speak volumes regarding functionality far beyond the original intention of the room.

-Basement: This extra square footage offers many options so even if the space is un- or partially-finished, paint the vision for tomorrow’s media room, game room, exercise or craft area.

-Outdoor living spaces: Whether it’s a tiny lot or large open space, suggesting ideas that go “beyond the deck” with landscaping, pathways and sitting areas brings even the mundane to life. 

Seeing a home through a different lens may help your clients imagine the space as they would actually use it and gain a new perspective on possibilities. Going beyond the basics of BR/BA-speak to engage your clients in lifestyle discussions will not only help you find solutions that are right for each family; it will help them find the perfect fit for the architecture of their lives. 

Melissa Birdsong is vice president for Trend, Design & Brand, Lowe’s Companies, Inc. 

For more information, visit www.lowes.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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Right Tools, Right Now – November Offers 

Increase insights on the latest real estate education, trends and technology for FREE, thanks to Right Tools, Right Now. This month’s offers include: the recently updated ‘NAR Education Matrix,’ an NAR e-Product on official NAR designations and certifications and ‘Technology: With Every Tweet, Provide a Takeaway,’ a great article on Twitter and how to Tweet successfully. For more offers, visit www.REALTOR.org/RightTools. 

Tell Us Why You Love Being a REALTOR® 

Stop by the REALTOR® Harbor, NAR’s Booth #2935, at the 2009 REALTORS® Conference and Expo next week. The cameras will be recording Friday night from 4-6pm with your opportunity to “Tell Us Why You Love Being a REALTOR®.” Stop by between 10am-noon on Saturday and Sunday to record your “REALTOR® story.” And with over 20 free presentations, how-to demos and the opportunity to meet and get an autograph from iconic star of TV and film, William Shatner (Saturday, November 14, 1-4pm), the NAR Booth #2935 will once again be an attendee favorite at this year’s REALTORS® Conference and Expo! 

Stay Safe at the Conference with Valuable Tips from NAR 

View the brief ‘Safety at Conventions’ video for easy-to-follow steps to take prior to leaving your home or office for the convention. The five-minute video also includes great reminders and practical suggestions to help you keep safe at your hotel, and while you’re out having fun learning and meeting with friends. For valuable tips for staying safe on the job, videos, webinars and more, visit www.REALTOR.org/Safety. 

For more information, visit www.Realtor.org. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

To read last week’s NAR Pulse, click here.

Regardless of the causes, the real estate market is going through some fundamental changes, and the real estate agents who will survive, are the ones most able to adapt to the new paradigm. The credit bubble distorted the market for some time, with so-called “luxury” mansions and condominium developments sprouting like weeds all across the world, making the term “luxury” all but useless to describe a property, spawning new improved, better-than-before superlatives like ultra-luxury. 

Many luxury real estate agents are discovering that they are not luxury real estate agents after all, and it takes more than granite counter tops and gourmet appliances to distinguish a luxury property from any other. This distortion in the marketplace means that amongst the vast array of property for sale, it is necessary to become more focused on a specific niche to be found. Zillow.com claims to have over 3 million homes for sale listed on their website, and rather like being faced with too many choices in a grocery store, this is probably off-putting to many potential buyers. Another aspect of the changing marketplace is the amount of foreclosure and bank properties for sale, with some estimates that around 50% of all sales currently are of financially distressed property. With sales volumes slowly picking up and prices still falling, it becomes necessary to specialize to attract potential buyers. 

The Internet is often the first place many buyers start their search for a property, and getting found for your particular geographic area is becoming more and more difficult. The competition is strong, and another approach is to specialize in small niches, which is proving a successful strategy for some agents. One example that comes to mind is Glenn Plantone at Viewpoint equity, who currently specializes in foreclosed condominiums in Las Vegas after seeing a opportunity and educating himself on this micro-market or niche. 

Buyers know that it is not possible to be an expert in all markets and for all property types, and are now expecting to find an expert in the niche that interests them. But how to create Web traffic to a particular niche is an interesting dilemma. The first step in any Web-based promotional campaign is to begin with the URL, or Web address of a particular property. Bank properties as an example. The term “bank properties” or a derivative using both of these words is searched for on Google approximately 14,000 times a month and is far less competitive than a broader search term which will have hundreds of thousands – perhaps millions of websites competing to be found higher up the search engine results. So, creating a URL such as http://bankproperties.com/listing-crestmoor-park-colorado-reo-81.html will have automatic authority over some thing such as http://joebloggsrealty/bankproperties/listing-crestmoor-park-colorado-reo-81.html because the search term is at the beginning of the URL and matches the term used. 

Thus, the first step in dominating a niche market online is here – using a niche property portal that matches your niche as closely as possible. Obviously, this is just the first step, but using this approach give obvious advantages over using a large “jack of all trades” portal where your property is listed with 3 million other properties. 

Mark Knowles is a long time professional real estate investor and analyst who now concentrates on online real estate. He currently writes the luxury property blog as the executive blogger for niche properties. He can be reached at mknowles@lux.com. 

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. 

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