In California, our property taxes are based upon the purchase price of the home (and are adjusted periodically).  Each time a home is improved/remodeled, the home value is reassessed for property tax purposes and a new tax amount is due.  Tax assessors always seem to be aware when property values increase but what happens when a home declines in value? 

My business is real estate marketing; I am not an active agent so I am not clear on many issues agents face. My question for agents is: 

Are property taxes ever adjusted for declined home values?

Kelly

Lenders, this is the perspective of a political family member of mine (who was a mortgage lender for a brief period). Does ANYONE share this perspective?

"Home owner's are now losing their property in record numbers. The culprit, as has become conventional wisdom, is the "adjustable rate/teaser mortgage," also known as the ARM. Bank's issued loans to families with questionable credit and because of such questionable creditworthiness and because of the supposed accompanying risk of loss to said lenders, these loans were manufactured with low introductory rates. Yet, after a certain period (usually two years) the rates were subject to adjust upward. Hence, this is the origin and underpinning of the new American economic meltdown.

Now, because millions of loans have adjusted upward as the lending boom has come upon its third year, families are going into foreclosure in record numbers-causing a ripple effect in the national economy as property values decline and banks tighten their lending/monetary policy.

SO, WHO IS TO BLAME? LENDERS!!!!!! Borrower's with bad credit were SOLD (often by shrewd loan officers alongside their management co-conspirators) on the premise that their credit would improve by virtue of the refinance/purchase loan and the home owner would be able to refinance their adjustable rate mortgages two years hence into a lower fixed rate because of their newly acclaimed responsible credit behavior stemming from said refinance/purchase! WRONG! Once a person moves into questionable credit, such person will likely remain with questionable credit-and the lenders have known this from the start. SO, now the taxpayers are going to bail each other out-transferring money between the middle class (taxpayers bailing out taxpayers via the federal government) and in effect, the rich/BANKS remain exponentially profitable, stay alive to merge yet again to become bigger giants that mislead consumers, while swallowing the international capital markets and invading those that conscientiously object to the process!"

That's one man's perspective...

 

Google has just released their Google Zeitgeist 2007 Report 

This report includes a list of the most searched upon words during the past 12 months.

This report can give us a quick glimpse of the direction of global culture and where popular interest lies. At Google, the fastest growing terms globally were:

1. iphone
2. badoo
3. facebook
4. dailymotion
5. webkinz
6. youtube
7. ebuddy
8. second life
9. hi5
10. club penguin

After searching these terms myself, to me, there is one glaringly obvious strong common demonimator:  PERSONALIZED TECHNOLOGY

People want to be able to share and express themselves and connect with those like them. And technology is making this possible.

This can mean different things to all of us and perhaps there are many burgeoning applications in our industry.

Kelly

I'd be a hypocrite to suggest that I am so focused on business development that I do not fall 'victim' (if I may) to busyness. In fact,  I enjoy new technologies so much that I am compelled to learn as much as I can about everything that crosses my plate. But, I am learning that it is vital to evaluate new technologies in a context. That context needs to be within the parameters of established business goals i.e  

• more prospects driven to website
• better contact information captured on website
• more RSS subscribers to Active Rain or other blog
• additional Associates within Active Rain
• improved conversion rates of leads to escrow
• improved product offerings to prospective clients etc...

As we all know, understanding, application, and adoption of new technologies can be hugely time-consuming so today, I chose to pause, kick myself in the head, and remind myself about the 'why' of all my actions.  Here is a small list of what I suggest and will implement for 2008-maybe it will help in some small way to get you focused too.  

1. Write your mission statement.
2. Define your goals - in writing.
3. Place your written goals in clear view.
4. Plan your strategies to achieve your goals.
5. Implement only those tactics related to your goals.  

Many of us have a slow season before the real estate market picks up (HOPEFULLY!) in the next few months and this could be a great time to stop the busyness and start the business.  

Kelly

What are the formulas for success in our industry?  Will the diligent implementation of these formulas and systems predict survival (even success) over the next 12 months?   

For the past 6-12 months or so, we (as real estate professionals) have focused vast efforts and time on blog building, search engine optimization techniques and social networking.  Our efforts to connect are the results of both a soft real estate market and the strong technology platforms available to us. Most of us here on Active Rain, have gained enormous amounts of information and, as important, have built professional relationships with those we come to admire here.  

However, to quote from a video clip from one of Brad Andersohn's recent posts, SHIFT HAPPENS...and it is happening right now.  In fact, I have been commissioned to make this shift happen for my most prominent realtor partner.  

THE SHIFT?  Real estate professionals who will likely survive in our industry have begun to re-focus vast efforts and time on building, systematizing and executing their lead management systems. Ignored leads, unanswered requests, uncaptured site and blog visitors has almost become the norm and those who are willing to devote some energy to tighten up their systems and use their new-found blogging and tech knowledge will prove successful in the next 12 months.  

THE STRATEGY? Build your pipeline. With so much to do, learn and deal with,  it's often hard to take a first step.  The first step that I've taken and recommend: Visit the admin end of your real estate website and search for all leads whose requests for information have been either ignored or the follow up processes have been neglected.  HONOR the requests for information first. IMPLEMENT your automated follow up drip campaigns (if you have them (if not, build them)) for those who have been neglected. I took these actions less than one week ago and already there are a handful of prospective clients that have been brought to the surface.

Build your blog. The most difficult aspect of lead management systems is the cultivation of the lead over a relatively long period of time. But now, thanks to our Active Rain blog and outside blogs, we can keep our prospects engaged until the time they are ready to do business with us.  That gives us an advantage in our formula for success.

Improving Google page ranking is high on many of our priority lists. Most of us know now of the importance of having an Active Rain profile and it's positive impact in Google rankings.  Through reading some of the top Active Rain bloggers, I have also seen a recurring message about the importance of LinkedIn.

To see what all the buzz is about, two evenings ago, I set up a LinkedIn account and 20 hours later my LinkedIn profile brought me to the 2nd place spot in a Google search!

If you haven't done so, you might find it worthwhile to join the LinkedIn community to boost your Google ranking AND...you may even see some fellow Rainers there!

Yesterday, I attended a 45 minute webex class to learn about a high-end video production company (this company can produce amazing videos for the web, but they are too pricey for the individual realtor). From the webex, I couldn't shake off one of the statements that the trainer made regarding traditional marketing (such as postcards/brochures).

This marketer stated, "Traditional marketing is not only ignored by people,  it is becoming annoying to people."   

Is this true? Are our clients and prospects annoyed by our traditional marketing efforts?  

Lately, there has been so much buzz about the new generation of home buyers/sellers and the need for realtors to create entertaining marketing that IMPACT on our prospects. 

I thought I'd share a few that I've heard and a few of my own:

• Continue to enhance your digital media. YouTube videos, IPOD audio downloads,  IPHONE listing tours - everything audio and video are of paramount importance in the digital marketing mix.
• Get creative with on-line marketing for your listings. In addition to featuring your listings on your personal website, your company site and realtor.com, post your listings on craigslist, Trulia, ebay, google, yahoo, your blogs. There are many other places to expose your listings than the traditional ones.
• Get creative with on-line marketing for yourself. Make sure your main real estate website and company website are optimized.  Put your Active Rain profile, your Trulia profile, your LinkedIn profile EVERYWHERE!  All of your social media communities should be displayed on every website in which you're featured. 
• Build your blog(s).  Obviously, building blogs...this one we all know about. Add quality content to your blogs regularly. Add your own post, comment on others, join forums etc...Make sure you burn your feeds, add RSS and email subscription capabilities to your blogs. Do everything you can to help prospects stay in your loop. The more on-line presence you have, the better.
• Create more user-generated content.  This idea I find to be very interesting. Get your clients/prospects to participate in your marketing. One way will be to offer incentives for posting to your blog etc... Have a contest. Offer a prize.  This "pay for play" approach is gaining traction. I have seen this strategy used on many prominent blogs and it is fun! 
• Go green. Environmentally challenge yourself to think eco-friendly (in terms of marketing and in terms of real estate transaction incentives). The sales impact could be great.  

If you have other new alternative marketing methods that you feel comfortable sharing,  we'd love to hear them.

Kelly

After two weeks, I have surprisingly and easily achieved my goal: to dominate the first page of a Google organic search.  As of today, googling my name places me in the first 5 listing ranks on Google page 1.  What does this mean?  It is very important for people to find you easily on Google and keyword optimizing your name is a critical first step in getting you listed.  When a past client or friend of a friend wants to contact you, many times Google is the first place they look.  So when they type in your name,  you must make sure you appear near the top of a Google organic search.  Blogging on Active Rain will boost your Google ranking almost immediately.

But...keyword optimizing your name is only the first step to full search engine optimization of your business.  What is the second step?  Anyone?

 

One week ago, I set up an Active Rain profile to learn how effective this blogging platform is in terms of search engine optimization. In that short time,  my Google rank went from complete unknown to 3 rankings on page 1!Note: I wanted to keep this post free from too many words but Active Rain will not offer blog points to posts under 50 words.  Hence, these sentences are merely a way for me to learn and write about effective blogging techniques.

Three days ago, I set up an Active Rain profile to learn how effective this blogging platform is in terms of search engine optimization. In that short time,  my Google rank went from complete unknown to a rank on page 1!

Note: I wanted to keep this post free from too many words but Active Rain will not offer blog points to posts under 50 words.  Hence, these sentences are merely a way for me to learn and write about effective blogging techniques.