New Jersey News

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New Jersey News

Getting Much Deserved Attention

It was exciting to see one of New Jersey's finest real estate firms get some attention in the market, especially on Yahoo! See where BrianDavid, Realtors® was touted on Yahoo for its professional service in north and south Jersey.

New Jersey Real Estate on Yahoo!

Real Estate Future Shock: How I Learned to Stop Worrying and Love Change

Inman Real Estate Conference, 1-15-2007
Welcome Address: Bradley J. Inman, Founder & Publisher, Inman News

· By connecting people, we are achieving something we all have in common. Recommends reading Richard Ford’s books, The Sportswriter, The Lay of the Land and Independence Day.

· “Finding a home is a good thing”

§ Home ownership gives us freedom.

· Faster we can connect these people; the faster there will be innovations.

· Brad gives an example of his truck which gets him where he wants to go versus his new Mercedes with 49 different buttons and three levels of air conditioned seats. Uses the analogy to compare traditional marketing with web-based marketing.

· Highlights the consumer will be more engaged and participating in our industry than ever before.

· There will be service ratings of sales associates.

· Consumer wants control. They don’t trust the experts.

· “The wisdom of crowds”.

§ Is this a treat or an opportunity?

· Open source software. Gives us an example of a gold mining company that opened its data to the world and discovered 40 additional sites.

· MLS and the 30-year mortgage made possible the market we enjoyed in the past 10 years.

· We will soon see on the web, comments from people who have seen the house.

· This will help us manage the seller.

Take-aways

1). Global competition for capital will increase

2). Inventory will remain the same [foreclosures will increase]

3). Will start emerging as a bull market.

· Worst case – 15% drop in sales volume.

· Gives an example of a firm that previously spent $100,000 in print advertising and $5,000 online. They are now spending 80% online and 20% in print.

· Put your content everywhere.

Change is Good

Real Estate is going through a metamorphosis. Markets are rapidly changing and technology is sparking new ways of servicing consumers. Learn from three leading experts who are pushing change forward.

Industry Trends & Market News

News from the Inman Real Estate Conference in New York City:

Brokerage and Realtor Marketing:

• Agents can differentiate themselves by the quality of information they provide about their community.
• There are community specific sites where agents should also have their information.
• There are different ways to find leads. Correspond and have a dialogue. Consumer is not in this room. They don’t understand how we get paid.

Customer Expectations:

• Internal lead generation management.
• Responds in 30 seconds to 1 minute.
• 23% of people who respond expect instantaneous contact.
• 44% expect follow-up in 30 minutes,
• 100% expect follow-up same day.

See what Kurfiss Sotheby's International Realty is doing online in Pennsylvania and New Jersey

Inman Conference In New York

The Inman Real Estate Conference was held in New York last week and some very exciting information was presented that highlights the changes in the market when it comes to buying and selling homes.

Should I Consider a Fixer-Upper

There are two main reasons buyers look for fixer-uppers (rundown houses that usually sell for less because of their poor condition). The first is as an investment. The idea is that you'll go in, do the fix-up work, and sell for a profit. There's money to be made here.

The second is that a fixer-upper will sell for less in any given neighborhood. Hence, you might be able to get into the New Jersey neighborhood you want by buying a fixer-upper while otherwise you'd be excluded because of price.

Both reasons are valid. The most common problems with fixer-uppers is that the buyer, particularly the inexperienced buyer, underestimates the costs of repairs.

Back to Buying: Picture Living There

When you view a home for sale, especially a smaller condominium in Hoboken or any other real estate in Hudson County, make sure you mentally move in your household.

Rate the New Jersey home you are considering for purchase from 1 to 10 based on the following checklist. Call in the experts as you need to.

• How would your furniture fit in the various living areas?
• How much renovation or repair is required?
• What would it cost to make any necessary changes?
• How will your children or future offspring fit into the picture?
• What is the present condition of the home?
• Decorating: paint, carpet, flooring, tile?
• Mechanical: heating, air conditioning, electrical?
• Structural: foundation, walls, plaster, floors, roof?
• Kitchen: cupboards, counters, appliances (which are included)?
• Bathrooms: shower, fixtures, water pressure?