Colorado Springs Real Estate-Joe Boylan

Marketing vs. Selling-Expanding Feedback Loops

Joe Boylan (ERA Shields Real Estate) — Fri, 25 Jul 2008 13:08:13 -0500

One of the biggest shifts the Internet has brought to the Real Estate business is the rise in Marketing vs. Selling. Many potential clients are using the Internet as a filter to keep traditional sales people away, at least until the client is ready to communicate.

Having said this our job, at least from a marketing standpoint is becoming more about figuring out how to improve the users online experience. This is a different approach for most Realtors, we generally excel in the face to face encounters. Experienced Realtors, especially are feedback junkies, they are situational counselors that listen, analyze and redirect, guiding their clients to a decision, don't misconstrue this description, I truly think most Realtors act in their clients best interest. The point I'm trying to make is that in many cases, some really great Realtors are going to miss out on some really great opportunities simply because they didn't take the time or acquire the tools and help needed to create a great user experience online.

Here are a couple of tools that can go a long to help get a handle on what's working and more importantly not working online. Google Analytics, is probably the best tool we have available for peeking behind the curtain of our websites.

Here is a blog post I recently wrote that talks about using Google Analytics in conjunction with single property websites in order to improve user experience. Google Analytics, allows us to setup goals, sales funnels and objectives in order to see what's work and what's not...Best of all this product is free. If you are new to the Internet or using a website provided by your company you will probably need to ask the company that provides your website to help with implementation but it's certainly worth the trouble.

The other powerful tool we have had great success with is video. We have really had a blast putting together these property videos and the response we have had from our sellers has made it even more worth while. We use Wellcomemat.com to host our videos, this is a great service and once again FREE, at least for the time being.

Here is a recent post that talks about how we use Video to effectively market homes by improving user experience. You don't have to go over the top in order to add video content to your listings, I have seen some great stuff created by people that have used still photos in conjunction with the family video camera. The idea is to just get started or find a service to help. Wellcomemat provides a list of local videographers in a wide range of prices.

Just remember, the key is to Create, Measure, Tweak...Create, Measure, Tweak, etc...The feedback loops are still there they just require more time and a little technology.

Knowing Your Real Estate Marketing Numbers

Joe Boylan (ERA Shields Real Estate) — Thu, 24 Jul 2008 19:03:38 -0500

Knowing your numbers in Real Estate is absolutley essential and while most people focus their attention on the obvious and important ones like List Price, Days on Market, Price Per Square Foot, etc...Real Estate Marketers and home sellers are more interested in, numbers like "how many people have seen my house and know it's for sale?" Unfortunatley these numbers are essential but hard to find.

Here is an interesting blog post that talks about how real estate marketers can use online tools to get a realistic view of how online marketing efforts are going for a particular property.

What do you mean I'm not getting my Security Deposit Back!

Joe Boylan (ERA Shields Real Estate) — Fri, 18 Jul 2008 08:33:56 -0500

I ran across this video online and immediatley thought about a client that recently purchased an investment property near a university.

Burnout In The Living Room - Watch more free videos

Colorado Springs Median Sales Price-2005 -2008

Joe Boylan (ERA Shields Real Estate) — Wed, 16 Jul 2008 21:48:21 -0500

I just took a look at the median sales price in Colorado Springs over the last four years. I was really surprised to see how painfully flat the line graph looked.

I consistently tell clients that Colorado Springs did not see the insane appreciation the costal markets did so we aren't seeing the dramatic crashes either.

I just didn't realize how conservative our market has been over the past four years. Looking at this graph, I can't help but think that we are a fairly safe market from an investment standpoint.

The fundamentals for this area are solid: low taxes, responsible and smart growth, natural beauty and a great quality of life. I can't help but look at this graph in comparison to the Case Shiller indices and think that we are really lucky!

Northgate Colorado Springs, June 2008 Real Estate Statistics

Joe Boylan (ERA Shields Real Estate) — Tue, 15 Jul 2008 18:44:30 -0500

Northgate is one of the fastest growing areas in the Pike's Peak region. This area has seen significant growth in the residential arena as well as commercially. The area is named for it's close proximity to the Northgate of the United States Air Force Academy. Northgate is also home to "The Club at Flying Horse", Pikes Peak Community College, Rampart Campua as well Interquest Marketplace and Colorado Crossing these developments will also house a 38 lane Brunswick Zone that will feature bowling and laser tag, a 10-story, 306 room Renaissance Hotel, several restaurants including MacKenzie's Chop House, a gas station, banks, an townhouse complex, and shopping galore.

Here is a quick breakdown on the Real Estate Sales activity in the Fountain area for the month of June of 2008:

    * Number of Sales: 24
    * Median List Price: $334,500
    * Average Sales Price: $361,626
    * Median Sales Price: $325,000
    * Average Days on Market: 70

Courtesy Joe Boylan: http://www.SpringsHomes.com

Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period June 1, 2008 through June 30, 2008 . RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.

Northeast Colorado Springs, June 2008 Real Estate Statistics

Joe Boylan (ERA Shields Real Estate) — Tue, 15 Jul 2008 08:01:10 -0500

Northeastern Colorado Springs -The northeast part of Colorado Springs is located just south of the Briargate and north of the Central and East parts of town. This area features higher density residential and restaurants, retail, office and other commercial development.
Here is a quick breakdown on the Real Estate Sales activity in the Fountain area for the month of June of 2008:

    * Number of Sales: 86
    * Median List Price: $225,000
    * Average Sales Price: $245,701
    * Median Sales Price: $219,450
    * Average Days on Market: 96

Courtesy Joe Boylan: http://www.SpringsHomes.com

Manitou Springs, June 2008 Real Estate Statistics

Joe Boylan (ERA Shields Real Estate) — Tue, 15 Jul 2008 07:55:47 -0500

Manitou Springs is a bustling little town located 4 Miles west of Colorado Springs. Although this community is located in the foothills of the Front Range, its feel is distinctively that of a mountain town.

Here is a quick breakdown on the Real Estate Sales activity in the Manitou Springs area for the month of June of 2008:

    * Number of Sales: 9
    * Median List Price: $325,000
    * Average Sales Price: $315,777
    * Median Sales Price: $310,000
    * Average Days on Market: 160

Courtesy Joe Boylan: http://www.SpringsHomes.com

Fountain, Colorado June 2008 Real Estate Statistics

Joe Boylan (ERA Shields Real Estate) — Tue, 15 Jul 2008 07:49:22 -0500

The City of Fountain Colorado is located just to the south of Colorado Springs at the foot of the Rocky Mountains. This city’s namesake, Fountain Creek actually runs through the city. Fountain Creek originates just northwest of the City of Fountain in the Ute Pass area. The creek and joins up with the Arkansas River just to the south of Fountain in Pueblo, Colorado.

The City of Fountain features all of the amenities of urban living, yet is still a place where people enjoy the advantages of neighborly living in a small town atmosphere.

Here is a quick breakdown on the Real Estate Sales activity in the Fountain area for the month of June of 2008:

    * Number of Sales: 94
    * Median List Price: $170,452
    * Average Sales Price: $173,417
    * Median Sales Price: $169,450
    * Average Days on Market: 80

Courtesy Joe Boylan: http://www.SpringsHomes.com

Falcon Colorado Springs, June 2008 Real Estate Statistics

Joe Boylan (ERA Shields Real Estate) — Mon, 14 Jul 2008 23:10:07 -0500

Falcon is a small town located in unincorporated El Paso County, Colorado. This area is located about 15 miles northeast of Downtown, Colorado Springs and even closer to areas like Powers and Briargate.

This is a popular area featuring a wide range of new construction.

Here is a quick breakdown on the Real Estate Sales activity in the Downtown area for the month of June of 2008:

    * Number of Sales: 20
    * Median List Price: $252,194
    * Average Sales Price: $259,379
    * Median Sales Price: $237,500
    * Average Days on Market: 84

Courtesy Joe Boylan: http://www.SpringsHomes.com

East Colorado Springs, June 2008 Real Estate Statistics

Joe Boylan (ERA Shields Real Estate) — Mon, 14 Jul 2008 22:54:46 -0500

East Colorado Springs is a large area featuring a wide range of housing options. This area features mature landscaping, awesome views, lots of parks and shopping.

This is a popular area and a convienent location. Here is a quick breakdown on the Real Estate Sales activity for the East side of Colorado Springs for the month of June of 2008:

    * Number of Sales: 57
    * Median List Price: $172,000
    * Average Sales Price: $186,767
    * Median Sales Price: $170,000
    * Average Days on Market: 75

Courtesy Joe Boylan: http://www.SpringsHomes.com

Central (Downtown) Colorado Springs-June 2008 Sales Statistics

Joe Boylan (ERA Shields Real Estate) — Mon, 14 Jul 2008 22:41:41 -0500

Central (Downtown) Colorado Springs, June 2008 Real Estate Statistics

Downtown Colorado Springs is located in the central business district. This part of town is home to Colorado College, The Olympic Training Center, some great shopping and restaurants.

This is a great area for those that are interested in the diverse quality of life found in a true College town.

Here is a quick breakdown on the Real Estate Sales activity in the Downtown area for the month of June of 2008:

    * Number of Sales: 51
    * Median List Price: $169,900
    * Average Sales Price: $222,708
    * Median Sales Price: $166,900
    * Average Days on Market: 98

Courtesy Joe Boylan: http://www.SpringsHomes.com

Briargate June 2008 Real Estate Statistics

Joe Boylan (ERA Shields Real Estate) — Mon, 14 Jul 2008 19:23:58 -0500

Briargate is a popular masterplanned community located on the northern edge of Colorado Springs, Colorado.

Briargate is a popular relocation destination for a multitude of reasons, Schools, Shopping, Restaurants, Views, etc...

Here is a quick breakdown on the Real Estate Sales activity in the Briargate area for the month of June of 2008:

    * Number of Sales: 76
    * Median List Price: $297,500
    * Average Sales Price: $328,118
    * Median Sales Price: $291,025
    * Average Days on Market: 87

Courtesy Joe Boylan: http://www.SpringsHomes.com

More Colorado Springs Real Estate Statistics for June, 2008

Joe Boylan (ERA Shields Real Estate) — Wed, 09 Jul 2008 22:48:11 -0500

It's vitally important that Realtors, know their numbers. Here are some really basic buy really important numbers. I generally track these for my own use but I realized today that I should actually be sharing this info on our blog, so here we go:

New Single Family/Patio Home (existing) listings 1,620
Number of Single Family/Patio Homes sold 782
Average Sales Price: $248,376
Median Sales Price:$215,316
Total active listings: 5,870

Courtesy Joe Boylan: http://www.SpringsHomes.com

Colorado Springs Real Estate Showings-For the week of June 30th – July 6th

Joe Boylan (ERA Shields Real Estate) — Tue, 08 Jul 2008 23:09:41 -0500

This was a holiday weekend so showings were a little off as many Agents and Buyers were out of towm. Here are the showing totals for the week of June 30th. through July 6th. 200

Showing Total: ( Mon –Thurs ) 166
Weekend Showing Total: (Sat & Sun only Fri was a holiday) 62
Total Showings: 228

Courtesy Joe Boylan: http://www.SpringsHomes.com

Black Forest June 2008 Real Estate Statistics

Joe Boylan (ERA Shields Real Estate) — Tue, 08 Jul 2008 22:47:53 -0500

Black Forest is a large are located to the northeast of Colorado Springs Colorado. This area is characterized by towering ponderosa pines and large lots, generally 2.5 to 5.00 acres.

Black Forest is a popular area for home buyers moving to the Pike's Peak region.

Here is a quick breakdown on the Real Estate Sales activity in Black Forest, Colorado for the month of June of 2008:

Number of Sales: 58
Median List Price: $297,500
Average Sales Price: $318,805
Median Sales Price: $283,950
Average Days on Market: 117

Courtesy Joe Boylan: http://www.SpringsHomes.com

Google Likes The Outside Blogs!

Joe Boylan (ERA Shields Real Estate) — Tue, 08 Jul 2008 21:36:00 -0500

I love ActiveRain but have been luke warm on committing my blogging resources completely to AR. I have just never felt the love from Google. As a matter of fact it doesn't even appear to be in the Google index. Meanwhile the Heavy Hitters like Grand Poobah Lenn Harley not only get indexed but smack down a substantial Page Rank (4) from their Active Rain Subdomain (wow).

Now keep in mind I'm still pulling for Active Rain so when they rolled out the Outside Blog idea I was all over it. Got the blog setup, played with the DNS records a little bit and pow, I've got an outside blog www.springs-homes.com

Now I've been a member since March of 2007 and still Google had no cached record of my blog.

Well here's the good news, one week after seting up the outside blog, Google sees it! Now that's not bad! Thanks ActiveRain!

Would I be pushing it to ask for the ability to add the page to my Google Analytics Account?

Colorado Springs Real Estate Numbers for: June 2008

Joe Boylan (ERA Shields Real Estate) — Tue, 08 Jul 2008 21:18:54 -0500

The June numbers are out and the month actually looked pretty good.

June is generally a very good month so we're going to assume that a lot of this is normal seasonal activity.

This is still, news and we are going to keep our fingers crossed. So, here are the important overall numbers. We'll drill down into some of the area in the coming days:

Single Family/Patio Home Sales: 867 Listings Sold (that's up 27 sales from May)
Median Sales Price: $223,000 (that's up $13,000 from May)
verage Sales Price: $256,829 (that's up $5,286 from May)
Average Days on Market: 91 (This one is up from May by 3 days)

May was definatley a good month but June was even better. Especially for realistic Sellers and qualified buyers.

Courtesy Joe Boylan: http://www.SpringsHomes.com

Is ActiveRain becoming the Tuesday Caravan?

Joe Boylan (ERA Shields Real Estate) — Sun, 06 Jul 2008 13:48:38 -0500

I think it's interesting to see the kinds of things that pick up comments on Active Rain. I posted a couple of weeks ago about a possible scam. The kind of stuff you find on Snopes. Didn't think it was much of a post but I thought the idea was interesting. It got a few comments, mostly innocuous gimme 25 points type stuff.

Jump to a week later. The two biggest developments on the Internet in a while, at least for Realtors were Adobes' news that they were working with the Major Search entities to include tagging technology that would allow flash content to be indexed like text and ICANN's announcement that they were pursuing fully customizable domains. For example "www.remax.calif". I thought these were fairly BIG and of interest to the AR community but not a single comment. Now, I am completely aware that my writing skills may be the issue but I am a little concerned that the focus of ActiveRain is tending towards the same banter I used to hear on the Tuesday company caravan. Not that I don't enjoy those guilty pleasures occasionally but hey, this is ActiveRain, home of the webs most advanced online Realtors.

Maybe my expectations are unrealistic but I'm just looking for a little more balance and a little comment love!

ICANN-Paves way for custom domains

Joe Boylan (ERA Shields Real Estate) — Thu, 03 Jul 2008 21:28:33 -0500

ICANN The Internet Corporation for Assigned Names and Numbers, The Internet's key oversight agency has relaxed rules and are opening the introduction of hundreds, perhaps thousands, of new Internet domain names to join ".com," making the first sweeping changes in the network's 25-year-old address system. These new guidelines would allow companies to add new suffixes beyond .com.

For example if a Real Estate franchise wanted to localize search by region they could theoretically add a customized suffix, for example remax.calif could be the domain for re/max's California franchise. This is easy to remember and because we are all a bit brainwashed into the .com,net, org naming conventions, this would be a pretty cool novelty.

The down side to this is that pricing looks to be pretty steep. Early estimates are some of these custom custom domains may cost as much as $100,000! Yikes (I'm Out)

At first glance this doesn't appear to be a great opportunity for the individual agent but could be valuable for those larger real estate entities looking to focus on regional real estate.

Either way this is an interesting development and certainly one worth watching, even if we can't afford to play.

Courtesy Joe Boylan: http://www.springshomes.com

Finally-Adobe begins work with Google and Yahoo to make Flash readable

Joe Boylan (ERA Shields Real Estate) — Tue, 01 Jul 2008 14:17:55 -0500

This is huge news to anyone that wants to use Flash to create a beautiful website but depends on organic search traffic. Previously, any Web site or app that displayed itself as a Flash file was invisible online because search engines couldn’t detect the file’s content. This indexing technology will allow flash content to be indexed as text. At this point I'm not sure how this will work but hey, this is a big breakthrough.

This is especially good news for Realtors as lots of video and mapping content is heading to Flash. I would presume contenet could be tagged and indexed by keywords and descriptions. We'll see!

Courtesy Joe Boylan: http://www.SpringsHomes.com

Colorado Springs Real Estate-Showing Report June 23rd.- June 29th. 2008

Joe Boylan (ERA Shields Real Estate) — Mon, 30 Jun 2008 17:30:28 -0500

Here is a quick overview of weekly showing activity from the ERA Shields front desk from June 23rd.- June 29th. , 2008

Showing Total ( Mon – Thurs ) 172
Weekend Showing Total ( Fri – Sun ) 96
Total Showings for the week-268

These numbers are down from the previous week. Click Here to look at last weeks report.

Soleful Marketing

Joe Boylan (ERA Shields Real Estate) — Sun, 29 Jun 2008 15:48:54 -0500

Here's a great marketing idea.

I took a trip to Portland from Denver. While going through the security check in ritual I looked into the bottom of the shoe tray and found a creative little piece of well placed advertising.

Zappos.com the online shoe retailer had bought the bottom of the shoe tray. Now that's creative, I love this kind of advertising.

This is pretty cool inspiration, it makes me wonder what kind of cools things could a Realtor do in personally branding themselves?

Colorado Springs Real Estate- Showing Report For the week of June 16th – 22nd

Joe Boylan (ERA Shields Real Estate) — Sat, 28 Jun 2008 10:36:45 -0500

Here is a quick overview of weekly showing activity from the ERA Shields front desk from June 16th - June 22, 2008

Monday through Thursday- 132 showings
Friday, Saturday & Sunday- 124 showings
Total Showings for the week-274 showings

These numbers are up from the previous week, the weather was good and it was a quiet week, socially. Here’s a look at last weeks report Click Here

Colorado Springs Scam Alert

Joe Boylan (ERA Shields Real Estate) — Sat, 28 Jun 2008 10:32:00 -0500

This came from a local Colorado Springs Police Crime Watch group:
Most of us use credit/debit cards at the gas pump. With the price of
gas and people getting desperate, this is likely to occur more often.

A co-worker used her credit/debit card to purchase gas at the pump (like
most of us do). She received her receipt like normal. However, when
she checked her statement, there were 2 $50 charges added in addition to
her purchase. Upon investigation, she found out that because she did
not press the 'clear' button on the pump, the employee inside the store
was abl e to use her card to purchase his/her own gas! To keep this
from happening, after you get your receipt, you must press the 'CLEAR'
button or your information will be stored until the next customer
inserts their card. Be sure to tell all your friends/family so that
this doesn't happen to them!

Important Numbers For Colorado Springs Home Sellers

Joe Boylan (ERA Shields Real Estate) — Sat, 28 Jun 2008 10:20:03 -0500

In our current market situation, many home sellers are frustrated, angry and feeling a little helpless. We think it's important for home sellers to understand what to expect.

What constitutes a "Deal? (for the buyer) I think this one is a question of perceived value. In other words how is the home priced to begin with. If the home is priced correctly, we are generally seeing offers starting in the 5% to 3% below list price range and sales prices from 2% to 3% below list price. If on the other hand the home is excessively over priced offers can start in the negative double digits 15% to 20% below list. The attitude we are seeing from home buyers is, "Hey if you're going to be unrealistic, so will I". It's almost like buyers are seeking some sort of justice or revenge for the hit they took when they sold their homes. It become important for the Buyers Agent to maintain a realistic/non-emotional perspective of how the home is priced in relation to the local marketplace.

How many showings should yield an offer? In a "normal" market we generally expect an offer for every 10 to 12 showings. In our current situation, we are seeing this number extend as high as 20 showings. The fundamental problem has to do with the amount of inventory in the marketplace. More homes for fewer buyers=longer market times. If you have had between 12 and 20 showings it's probably time to consider reducing your price.

How many showings should I expect per month?-This number depends on your price range. The lower the price the more showings. Homes at the upper end of our market are seeing little to no activity.

$0-$150,000 expect 8 to 10 per month
$151,000 to $250,000 expect 6 to 8 per month
$251,000 to $350,000 expect 4 to 6 per month
$351,000 to $500,000 expect 3 to 5 per month
$500,000 to $1,000,000 expect 0 to 3 per month
Over $1,000,000 expect 0 to 1 per month and in most cases 0

The upper end of our market is seeing very little activity. Coincidentally, this is where some of the best deals are in the marketplace today. How long is it going to take to sell my home?-This is a combination of the previous three.
Price it well, stage it well and market it aggressively

Keep track of showings and feedback, after every 12 to 20 showings drop the price to the next level.

These are all Real Estate fundamentals. Our market's not great but it's not as bad as the Gazette and national news portrays it. We didn't see the insane price increases some areas enjoyed so we didn't have a far to fall. Follow the fundamentals and you should be fine.