Showing posts with label real estate. Show all posts
Showing posts with label real estate. Show all posts

Monday, October 4, 2010

Friday, October 1, 2010

October 1, 2010 - Today's Yakima Real Estate Market

In the current real estate market, is it a good time to downsize and sell the family home?
What is the best season to sell a home?
Is it possible to make money when selling a home to downsize to a smaller residence?

Thursday, September 30, 2010

Will Real Estate Video Help U Sell Your Yakima Home?

The preceding real estate video tour has been active for about 3 months and has received over 2000 views and can be found all over the internet, in search engines everywhere for search terms related to Chinook Pass and Yakima Washington. The numbers are staggering to say the least. The video has also been used as the feature video on several real estate classified sites as well.
However.....does that mean that the house will certainly sell with those kind of numbers? Not necessarily. Selling a home in today's market....along with all the advanced tools at our
disposal like YouTube, Facebook, Twitter and such is only a little bit of "icing on the cake"

Location, Condition and Price are still the most important factor when it comes to getting your Real Estate sold.

The beauty behind the concept of real estate listings on video is in the concept that "people LOVE video" and a video opens the doors of a property listing.... 24-Hours-A-Day in ways that PHOTOS simply CANNOT. Therefor, any given real estate listing that has a video tour WILL receive double, triple, quadruple and often times 100X more exposure to MORE people than any other listing that DOES NOT have a video tour.

It is all about the NUMBERS.

MORE exposure = MORE buyers.

A professionally produced video tour engages the audience, and as a result...the video will end up being shared all over the world, thus it will end up being syndicated in ways that any traditional method of Real Estate Advertising will not.

Conclusion - In most cases and when done properly by a professional, a Real Estate listing that includes a video will have MORE PEOPLE seeing the inside of the home (just like being there) in 1 month....than 10 years if that same listing was on the market with traditional forms of marketing.
The math is simple.....and the future of real estate does not include print advertisement or simple photos.

I did a little research on the life- span of newspapers and telephone books and found some great articles from very reliable resources such as New York Times and CNN Money that talk about the demise of newspapers as we know them on my Yakima Real Estate Blog.

Today's Yakima Real Estate Market Pending Sales - Sept 30, 2010 - Realty Tours Northwest of Yakima | Yakima WA Real Estate and Homes For Sale

Why should I care about pending sales? What do they tell me about a real estate market. Home Encounter - Tampa's foremost real estate expert - takes 3 minutes to tell you why you should care about pending sales. We discuss what they tell you about a local real estate market and how you can make better decisions when you know about what sales are pending. Home Encounter has practices in Residential Sales, Consulting, Property Management and Investment Properties, and it cares about it's clients enough to publish these informative videos.

Wednesday, September 29, 2010

Will Real Estate Video Help U Sell Your Home? - Realty Tours Northwest of Yakima

The preceding real estate video tour has been active for about 3 months and has received over 2000 views and can be found all over the internet, in search engines everywhere for search terms related to Chinook Pass and Yakima Washington. The numbers are staggering to say the least. The video has also been used as the feature video on several real estate classified sites as well.
However.....does that mean that the house will certainly sell with those kind of numbers? Not necessarily. Selling a home in today's market....along with all the advanced tools at our
disposal like YouTube, Facebook, Twitter and such is only a little bit of "icing on the cake"

Location, Condition and Price are still the most important factor when it comes to getting your Real Estate sold.

The beauty behind the concept of real estate listings on video is in the concept that "people LOVE video" and a video opens the doors of a property listing.... 24-Hours-A-Day in ways that PHOTOS simply CANNOT. Therefor, any given real estate listing that has a video tour WILL receive double, triple, quadruple and often times 100X more exposure to MORE people than any other listing that DOES NOT have a video tour.

It is all about the NUMBERS.

MORE exposure = MORE buyers.

A professionally produced video tour engages the audience, and as a result...the video will end up being shared all over the world, thus it will end up being syndicated in ways that any traditional method of Real Estate Advertising will not.

Conclusion - In most cases and when done properly by a professional, a Real Estate listing that includes a video will have MORE PEOPLE seeing the inside of the home (just like being there) in 1 month....than 10 years if that same listing was on the market with traditional forms of marketing.
The math is simple.....and the future of real estate does not include print advertisement or simple photos.

I did a little research on the life- span of newspapers and telephone books and found some great articles from very reliable resources such as New York Times and CNN Money that talk about the demise of newspapers as we know them on my Yakima Real Estate Blog.

Thursday, September 16, 2010

2 Brand New Real Estate Developments - Realty Tours Northwest of Yakima

Two brand new developments are coming to the internet that will benefit both Real Estate Agents and Video Tour Service Providers which will ultimately provide a means to showcase a property via a video tour and generate more viewers for the listing.

1. Google has acquired Quiksee 

Quiksee allows users to upload interactive photo and video tours of real-world locations with geo tagged information and place them on online maps. Once the transition takes place, Google Maps will include the videos in their Street View browsing. The enhancement to Google Maps will be a great add-on feature for real estate listings as the viewer can get a great view of the property and surrounding neighborhood as well as the ability to now watch a video of the home's interior.

2. Twitter has announced "Split Screen"

Twitter will be unveiling a new user enhancement dubbed "SplitSreen" Users will now be able to view photos and videos on Twitter without leaving the TWITTER application. The new integration will help entice users to view more videos and photos on Twitter as they won't have to leave Twitter and stay on the site longer. This too will ultimately lead to more property views for those real estate listings that include video.


Wednesday, September 15, 2010

Home Prices Just Dropped In Most States And 8 Million Foreclosures Are About To Hit The Market

The small upward correction in home prices from multiple tax credit offerings died in July. Worse yet, inventory of homes for sale as well as shadow inventory both soared. 8 million foreclosure-bound homes have yet to hit the market according to Morgan Stanley.

Home Prices Drop in 36 States

CoreLogic reports Growing Number of Declining Markets Underscore Weakness in the Housing Market without Tax-Credit Support

CoreLogic Home Price Index Remained Flat in July

SANTA ANA, Calif., September 15, 2010 – CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its Home Price Index (HPI) that showed that home prices in the U.S. remained flat in July as transaction volumes continue to decline. This was the first time in five months that no year-over-year gains were reported. According to the CoreLogic HPI, national home prices, including distressed sales showed no change in July 2010 compared to July 2009. June 2010 HPI showed a 2.4 percent* year-over-year gain compared to June 2009.

"Although home prices were flat nationally, the majority of states experienced price declines and price declines are spreading across more geographies relative to a few months ago. Home prices fell in 36 states in July, nearly twice the number in May and the highest since last November when national home prices were declining," said Mark Fleming, chief economist for CoreLogic.

Methodology

The CoreLogic HPI incorporates more than 30 years worth of repeat sales transactions, representing more than 55 million observations sourced from CoreLogic industry-leading property information and its securities and servicing databases. The CoreLogic HPI provides a multi-tier market evaluation based on price, time between sales, property type, loan type (conforming vs. nonconforming), and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, which provides a more accurate "constant-quality" view of pricing trends than basing analysis on all home sales. The CoreLogic HPI provides the most comprehensive set of monthly home price indices and median sales prices available covering 6,208 ZIP codes (58 percent of total U.S. population), 572 Core Based Statistical Areas (85 percent of total U.S. population) and 1,027 counties (82 percent of total U.S. population) located in all 50 states and the District of Columbia.

CoreLogic HPI Including Distressed Sales

image

See the above article for additional charts

Beazer Homes Warns on Orders

The Wall Street Journal reports Beazer Homes Warns of Order Miss

Beazer Homes USA Inc. said Wednesday it might miss order expectations for its fiscal-fourth quarter, as it also cut estimates for the year's land and development spending, reflecting the sector's weakness following the expiration of home-buyer tax credits.

Last month, Beazer reported that its fiscal third-quarter loss was little changed because of a prior-year gain, while it reported a 73% surge in closings as buyers raced to qualify for the tax credit. Orders fell 33%.

Inventory Soars

Bloomberg reports U.S. Home Prices Face Three-Year Drop as Supply Gains

The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market.

Shadow inventory -- the supply of homes in default or foreclosure that may be offered for sale -- is preventing prices from bottoming after a 28 percent plunge from 2006, according to analysts from Moody’s Analytics Inc., Fannie Mae, Morgan Stanley and Barclays Plc. Those properties are in addition to houses that are vacant or that may soon be put on the market by owners.

“Whether it’s the sidelined, shadow or current inventory, the issue is there’s more supply than demand,” said Oliver Chang, a U.S. housing strategist with Morgan Stanley in San Francisco. “Once you reach a bottom, it will take three or four years for prices to begin to rise 1 or 2 percent a year.”

Sales of new and existing homes fell to the lowest levels on record in July as a federal tax credit for buyers expired and U.S.

Rising supply threatens to undermine government efforts to boost the housing market as homebuyers wait for better deals. Further price declines are necessary for a sustainable rebound as a stimulus-driven recovery falters, said Joshua Shapiro, chief U.S. economist of Maria Fiorini Ramirez Inc., a New York economic forecasting firm

There were 4 million homes listed with brokers for sale as of July. It would take a record 12.5 months for those properties to be sold at that month’s sales pace, according to the Chicago-based Realtors group [National Association of Realtors].

“The best thing that could happen is for prices to get to a level that clears the market,” said Shapiro, who predicts prices may fall another 10 percent to 15 percent. “Right now, buyers know it hasn’t hit bottom, so they’re sitting on the sidelines.”

About 2 million houses will be seized by lenders by the end of next year, according to Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania. He estimates prices will drop 5 percent by 2013.

Douglas Duncan, chief economist for Washington-based Fannie Mae, said in a Bloomberg Radio interview last week that 7 million U.S. homes are vacant or in the foreclosure process. Morgan Stanley’s Chang said the number of bank-owned and foreclosure-bound homes that have yet to hit the market is closer to 8 million.

Defaulted mortgages as of July took an average 469 days to reach foreclosure, up from 319 days in January 2009. That’s an indication lenders -- with the help of the government loan modification programs -- are delaying resolutions and preventing the market from flooding with distressed properties, said Herb Blecher, senior vice president for analytics at LPS.

“The efforts to date have been worthwhile,” Blecher said in a telephone interview from Denver. “They both helped borrowers stay in their homes and kept that supply of distressed properties on the market somewhat limited.”

I disagree with Herb Blecher. I see little advantage stretching this mess out for a decade, and that is what the government seems hell-bent on doing. Everyone wants the government to "do something". Unfortunately tax credits stimulated the production of new homes, ultimately adding to inventory. Prices need to fall to levels where there is genuine demand.

The short-term rise in the Case-Shiller home price index and the CoreLogic HPI was a mirage that will soon vanish in the reality of an inventory of 8 million homes that must eventually hit the market.

Lost Decade

About 2 million houses will be seized by lenders by the end of next year, according to Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania. He estimates prices will drop 5 percent by 2013.

After reaching bottom, prices will gain at the historic annual pace of 3 percent, requiring more than 10 years to return to their peak, he said.

Home Price Pressures

Last Bubble Not Reblown

After the bottom is found, remember the axiom: the last bubble is not reblown for decades. Look at the Nasdaq, still off more than 50% from a decade ago.

The odds home prices return to their peak in 10 years is close to zero. Houses in bubble areas may never return to peak levels in existing owner's lifetimes. Zandi is way overoptimistic in his assessment of 3% annual appreciation after the bottom is found.

Price Stagnation

I expect small nominal increases after housing bottoms, but negative appreciation in real terms as inflation picks up in the second half of the decade. Yes, deflation will eventually end. Alternatively the US goes in and out of deflation for a decade (depending on how much the Fed and Congress acts to prevent a much needed bottom). Either way, look for price stagnation in one form or another.

Thus, if you have come to the conclusion there is no good reason to hold on to a deeply underwater home, nor any reason to rush into a home purchase at this time, you have reached the right conclusions.

Hyperinflation? Please be serious.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Home Prices Just Dropped In Most States And 8 Million Foreclosures Are About To Hit The Market

The small upward correction in home prices from multiple tax credit offerings died in July. Worse yet, inventory of homes for sale as well as shadow inventory both soared. 8 million foreclosure-bound homes have yet to hit the market according to Morgan Stanley.

Home Prices Drop in 36 States

CoreLogic reports Growing Number of Declining Markets Underscore Weakness in the Housing Market without Tax-Credit Support

CoreLogic Home Price Index Remained Flat in July

SANTA ANA, Calif., September 15, 2010 – CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its Home Price Index (HPI) that showed that home prices in the U.S. remained flat in July as transaction volumes continue to decline. This was the first time in five months that no year-over-year gains were reported. According to the CoreLogic HPI, national home prices, including distressed sales showed no change in July 2010 compared to July 2009. June 2010 HPI showed a 2.4 percent* year-over-year gain compared to June 2009.

"Although home prices were flat nationally, the majority of states experienced price declines and price declines are spreading across more geographies relative to a few months ago. Home prices fell in 36 states in July, nearly twice the number in May and the highest since last November when national home prices were declining," said Mark Fleming, chief economist for CoreLogic.

Methodology

The CoreLogic HPI incorporates more than 30 years worth of repeat sales transactions, representing more than 55 million observations sourced from CoreLogic industry-leading property information and its securities and servicing databases. The CoreLogic HPI provides a multi-tier market evaluation based on price, time between sales, property type, loan type (conforming vs. nonconforming), and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, which provides a more accurate "constant-quality" view of pricing trends than basing analysis on all home sales. The CoreLogic HPI provides the most comprehensive set of monthly home price indices and median sales prices available covering 6,208 ZIP codes (58 percent of total U.S. population), 572 Core Based Statistical Areas (85 percent of total U.S. population) and 1,027 counties (82 percent of total U.S. population) located in all 50 states and the District of Columbia.

CoreLogic HPI Including Distressed Sales

image

See the above article for additional charts

Beazer Homes Warns on Orders

The Wall Street Journal reports Beazer Homes Warns of Order Miss

Beazer Homes USA Inc. said Wednesday it might miss order expectations for its fiscal-fourth quarter, as it also cut estimates for the year's land and development spending, reflecting the sector's weakness following the expiration of home-buyer tax credits.

Last month, Beazer reported that its fiscal third-quarter loss was little changed because of a prior-year gain, while it reported a 73% surge in closings as buyers raced to qualify for the tax credit. Orders fell 33%.

Inventory Soars

Bloomberg reports U.S. Home Prices Face Three-Year Drop as Supply Gains

The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market.

Shadow inventory -- the supply of homes in default or foreclosure that may be offered for sale -- is preventing prices from bottoming after a 28 percent plunge from 2006, according to analysts from Moody’s Analytics Inc., Fannie Mae, Morgan Stanley and Barclays Plc. Those properties are in addition to houses that are vacant or that may soon be put on the market by owners.

“Whether it’s the sidelined, shadow or current inventory, the issue is there’s more supply than demand,” said Oliver Chang, a U.S. housing strategist with Morgan Stanley in San Francisco. “Once you reach a bottom, it will take three or four years for prices to begin to rise 1 or 2 percent a year.”

Sales of new and existing homes fell to the lowest levels on record in July as a federal tax credit for buyers expired and U.S.

Rising supply threatens to undermine government efforts to boost the housing market as homebuyers wait for better deals. Further price declines are necessary for a sustainable rebound as a stimulus-driven recovery falters, said Joshua Shapiro, chief U.S. economist of Maria Fiorini Ramirez Inc., a New York economic forecasting firm

There were 4 million homes listed with brokers for sale as of July. It would take a record 12.5 months for those properties to be sold at that month’s sales pace, according to the Chicago-based Realtors group [National Association of Realtors].

“The best thing that could happen is for prices to get to a level that clears the market,” said Shapiro, who predicts prices may fall another 10 percent to 15 percent. “Right now, buyers know it hasn’t hit bottom, so they’re sitting on the sidelines.”

About 2 million houses will be seized by lenders by the end of next year, according to Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania. He estimates prices will drop 5 percent by 2013.

Douglas Duncan, chief economist for Washington-based Fannie Mae, said in a Bloomberg Radio interview last week that 7 million U.S. homes are vacant or in the foreclosure process. Morgan Stanley’s Chang said the number of bank-owned and foreclosure-bound homes that have yet to hit the market is closer to 8 million.

Defaulted mortgages as of July took an average 469 days to reach foreclosure, up from 319 days in January 2009. That’s an indication lenders -- with the help of the government loan modification programs -- are delaying resolutions and preventing the market from flooding with distressed properties, said Herb Blecher, senior vice president for analytics at LPS.

“The efforts to date have been worthwhile,” Blecher said in a telephone interview from Denver. “They both helped borrowers stay in their homes and kept that supply of distressed properties on the market somewhat limited.”

I disagree with Herb Blecher. I see little advantage stretching this mess out for a decade, and that is what the government seems hell-bent on doing. Everyone wants the government to "do something". Unfortunately tax credits stimulated the production of new homes, ultimately adding to inventory. Prices need to fall to levels where there is genuine demand.

The short-term rise in the Case-Shiller home price index and the CoreLogic HPI was a mirage that will soon vanish in the reality of an inventory of 8 million homes that must eventually hit the market.

Lost Decade

About 2 million houses will be seized by lenders by the end of next year, according to Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania. He estimates prices will drop 5 percent by 2013.

After reaching bottom, prices will gain at the historic annual pace of 3 percent, requiring more than 10 years to return to their peak, he said.

Home Price Pressures

Last Bubble Not Reblown

After the bottom is found, remember the axiom: the last bubble is not reblown for decades. Look at the Nasdaq, still off more than 50% from a decade ago.

The odds home prices return to their peak in 10 years is close to zero. Houses in bubble areas may never return to peak levels in existing owner's lifetimes. Zandi is way overoptimistic in his assessment of 3% annual appreciation after the bottom is found.

Price Stagnation

I expect small nominal increases after housing bottoms, but negative appreciation in real terms as inflation picks up in the second half of the decade. Yes, deflation will eventually end. Alternatively the US goes in and out of deflation for a decade (depending on how much the Fed and Congress acts to prevent a much needed bottom). Either way, look for price stagnation in one form or another.

Thus, if you have come to the conclusion there is no good reason to hold on to a deeply underwater home, nor any reason to rush into a home purchase at this time, you have reached the right conclusions.

Hyperinflation? Please be serious.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Friday, September 3, 2010

WHY CHOOSE VIDEO FOR YOUR REAL ESTATE LISTINGS - Realty Tours Northwest of Yakima | Yakima Real Estate and Homes

Now more than ever, people are turning to the internet to begin there search for real estate. An estimated 85% of all potential buyers start their search online. Of that percentage, 80% of those buyers start their search with GOOGLE to look for a home.

Reports show that when a search engine like GOOGLE (which includes video) is used to look for Real Estate listings, if the search results include VIDEO the viewer is 78% more likely to click on the video before clicking on a webite. It is also reported that people who visit Real Estate websites which have video on them, stay on those sites 70% longer than competing Real Estate websites.

 

Monday, August 23, 2010

Selah Real Estate & Homes - Realty Tours Northwest of Yakima

Seated among the very quite and serene Wenas Valley in Selah, WA awaits this gorgeous 3 bedroom 2 bath Selah Real Estate property on nearly a full 1 acre lot. Built in 2006 with attention to environmentally friendly products and high efficiency in mind. The builder had a vision of old world craftsman charm incorporated into modern design and elegance. This house offers a State-Of-The-Art heating and cooling system that is backed by 6 inch exterior walls and Thermal windows. You will enjoy the peace and tranquility of the surrounding mountains yet the home is located just 8 minutes from town and is on a Selah School bus route. Be sure to check out Realty Tours Northwest for additional information about this home and local information about the beautiful Yakima Valley.

 

Posted via email from Realty Tours Northwest on Posterous

Selah Real Estate & Homes - Realty Tours Northwest of Yakima

Seated among the very quite and serene Wenas Valley in Selah, WA awaits this gorgeous 3 bedroom 2 bath Selah Real Estate property on nearly a full 1 acre lot. Built in 2006 with attention to environmentally friendly products and high efficiency in mind. The builder had a vision of old world craftsman charm incorporated into modern design and elegance. This house offers a State-Of-The-Art heating and cooling system that is backed by 6 inch exterior walls and Thermal windows. You will enjoy the peace and tranquility of the surrounding mountains yet the home is located just 8 minutes from town and is on a Selah School bus route. Be sure to check out Realty Tours Northwest for additional information about this home and local information about the beautiful Yakima Valley.

 

Thursday, August 19, 2010

We Now Have a New REAL TIME live updated property search available on our Yakima website - Realty Tours Northwest of Yakima

Now you can find Yakima real estate listings which are updated automatically in real time via Google Base. Or search for any property in any location across the world including foreclosed homes. Click on the photo to see our new Property Search feature.

 

We Now Have a New REAL TIME live updated property search available on our Yakima website - Realty Tours Northwest of Yakima

Now you can find Yakima real estate listings which are updated automatically in real time via Google Base. Or search for any property in any location across the world including foreclosed homes. Click on the photo to see our new Property Search feature.

 

Posted via email from Realty Tours Northwest on Posterous

Saturday, August 14, 2010

Property Search - Realty Tours Northwest of Yakima

We now have an updated property search feature on our website which also includes map-based browsing. Come check it out.

Property Search - Realty Tours Northwest of Yakima

We now have an updated property search feature on our website which also includes map-based browsing. Come check it out.

Posted via email from Realty Tours Northwest on Posterous

Realty Tours Northwest of Yakima | Official Website

Our official website is up and going.

Posted via email from Realty Tours Northwest on Posterous

Realty Tours Northwest of Yakima | Official Website

Our official website is up and going.

Friday, August 6, 2010

Seattle Real Estate & Homes in HD Video | 16211 S.R. 410 Chinook Pass

 

For detailed information about this property visit: http://www.postlets.com/res/4161500

You will feel like you just found the pot of gold at the end of the rainbow with this Chinook Pass property, located halfway between Yakima, WA and the summit of the scenic Chinook Pass Byway on Hwy. 410. With an elevation of 2500 ft, this Chinook Pass property is among only a few properties that offer a TRUE 4-Season experience. This custom built home was built by one of Yakima's Premier builders and many deluxe amenities were added for convenience and year-round living in mind. This home sets on a Historic Landmark as well: The historic trail from Naches to Chinook Pass mining camps. With all the natural beauty that surrounds this property... and daily wildlife viewing you will soon discover why they say "if you're lucky enough to be in the mountains.....then you're lucky enough!"

 


Posted via email from YakimaRealEstateVideo's posterous