WOW Factor; Pricing Property in Today's Market! - 11/06/08 02:41 PM
I just had a great conversation with a potential client and in my discussion I cam across something I wanted to share ... every property must have a WOW factor to sell and I mean every property!
No matter what you are listing you have to have at least one thing that you can sell that makes that property special, unique, better or just stands out.  Unfortunately the catch phrase of WOW factor has been misused and abused, so let me give you a better example to explain my point.
Let's say you have a great piece of property, vacant land … (2 comments)

Gaining respect, but not the listing in tough market times - 11/05/08 05:33 PM
http://money.cnn.com/2008/11/05/news/economy/retail_sales/index.htm
Retail sales = terrible.
We definately have some struggles facing us in the next year, two maybe even three.  Major economic indicators like unemployment filings, retail sales, corporate earnings, new home starts, etc. are all stagnant at best with many in a freefall.
So what does that mean for us, real estate agents on the ground, in the trenchs so to speak, with sellers asking for advice and buyers afraid to make offers if we aren't at the bottom yet?  Those are great questions and I think the answer needs to be tailored to every individuals need and motivation.  Let's … (5 comments)

THE MARKET? What is happening in North Idaho? - 11/05/08 05:13 PM
What's with our market? In one sentence, you can sum up our experience in 2008. Those with capital are holding and waiting, those without can't get the financing the expected.
The past year has been clouded with uncertainty and a lack of consumer confidence. Unreasonable asking prices based listings not closed sale, buyers expecting fire sale pricing, first time home buyers mystified by 100% financing on Monday and 20% down required on Wednesday. We've seen buyers anxiously writing offers one day, but then never hearing from them again. However, we've also sold properties priced right within 30 days.
By the numbers.
… (0 comments)

We are waiting to make the offer until after the election. - 11/04/08 04:09 PM
So how many of us have buyers, or multiple buyers, that have used that line?
We personally have at least a half dozen buyers and even a couple of sellers who are waiting for the election results before they make a decision to buy or sell.  My question is what difference will it make?  We know the field is narrowed down to two choices and does either really have a substantially different stance from the other?  Does either really have the power or authority to do anything, anyway?
No, I'm not looking for a big political debate on the candidates and … (6 comments)

ActiveRain in the Press! - 11/04/08 03:44 PM
http://www.ciremagazine.com/article.php?article_id=1301
Active Rain, congrats on the flattering write up in this month's CCIM magazine.  I earned my CCIM designation earlier this year and it was quite an endeavor.  Now I need to figure out how to join and start groups both for commercial real estate and resort/residential real estate ... but is another topic.
Regardless, It's good to see the established real estate organizations out there like CCIM, NAR, ULI and others start to recognize the value of the variety of NEW media outlets like active rain!
… (2 comments)

Seller's are seeing up to a 49% discount on list versus sale price! - 11/04/08 12:27 PM
http://seattletimes.nwsource.com/html/realestate/2008336653_ziphouse020.html?syndication=rss
It depends on the marketplace but sellers are regularly accepting discounted offers of up to 49% off their list price (see Denver, CO and Orange County, CA).  Here in the northwest, it appears things are doing better with the figures from this article indicating typically less than a 10% discount. 
So does that mean that agents in the Northwest are doing a better job at pricing homes at market levels, or does it mean the market in the northwest is doing better?  While I'd like to say that we are just better, more educated Realtors in the northwest, I'd have … (0 comments)

Print Marketing: End of an Era? - 11/03/08 08:38 PM
This is more of a poll than a blog, does anyone find any value in print media anymore?
It's interesting that advertising rates increase, seemingly everyday, but the effectiveness of print media seems to decline.  We continue to focus more and more on electronic media and less and less on print media.
What have you experienced in your marketplace? 
Are there media outlets that seem to be the exception to the rule?
 
 
… (3 comments)

Office Attention Deficit Disorder? Common for all realtors? - 11/03/08 06:22 PM
http://www.msnbc.msn.com/id/21015573/
I thought this article was great and I'm sure that it rings true for so many of us in the real estate field, especially in the current market.  I thought about after reading the article ... I have a dozen websites, several blogs running at the same time, eight email accounts, four computers including my smart phone ... I think the only time I'm not wired in is when I am asleep and more than half of my dreams involve real estate.  Am I sick?  Anyone else have office A.D.D.?
… (0 comments)

Investment Returns? - 11/03/08 05:56 PM
Question what does it take to really attract a true investor in today's marketplace?
Specifically, here in rural North Idaho we come across a quality project here an there but it seems that due only to locational attributes, it's hard if not impossible to attract investors at typical market returns.  So what does it take?  Anyone have experience from small town america?  What's the small town risk premium investors are looking for?
Example, let's take a traditional suburban apartment complex and put it in a tried and true suburban market like a suburb of Los Angeles (California).  In good condition with … (0 comments)

 

Chris Schreiber CCIM

Sandpoint, ID

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