Category Archives: Advertising

NAR Issues 2011 Profile of Home Buyers & Sellers

The 2011 National Association of Realtors® Profile of Home Buyers & Sellers survey results has just been published. My take-away from the stats is that people are returning to a little more conservatism in their purchase habits. That is a good thing given the rather reckless spending that occurred in the early part of the decade that ultimately led to people losing their homes.

  • 78% believe their home is a good investment and 45% believe it’s better than stocks.

First-Time Buyers

  • Median age was 31. Median income was $62,400, up from $59,900 in the 2010 survey.
  • They typically purchased a 1570 sq ft home costing $155,000.
  • Their typical monthly P&I payment was $794.
  • Their median down payment was 5%.

Repeat Buyers

  • Median age was 53. Median income was $96,600, up from $87,000 in the 2010 survey.
  • They typically purchased a 2100 sq ft home costing $219,500.
  • Their typical monthly P&I payment was $1006.
  • Their median down payment was 15%.

All Buyers Collectively

  • 64% are married couples; 18% are single women; 10% are single men; 7% are unmarried couples; and 1% are “other”.
  • Last year survey results were 58% – 20% – 12% – 8% – 1% respectively. NAR suggests that the increase in married couples points to married couples with their dual incomes being better positioned for a mortgage in the tight credit environment.
  • 77% purchased a single-family home; 9% purchased a condo, 8% bought a townhouse; and 6% bought another type of housing.
  • The typical home had 3 bedrooms and 2 baths.
  • 51% of the homes were in a suburb or subdivision. 18% were in an urban area. 18% were in a small town. 11% were in a rural area. 3% were in a resort/recreational area.
  • 89% used a real estate agent to buy. 7% bought direct from the builder.
  • When asked where they first learned about the home they PURCHASED, 40% replied the Internet; 35% from real estate agent; 11% yard sign/open house; 6% friend/neighbor/relative; 5% home builder; 2% print/newspaper ad; 2% direct from seller; and less than 1% from a home book or magazine.

Details about the survey

NAR mailed an 8-page questionnaire in July/August 2011 to  a national sample of 81,099 home buyers & sellers who purchased their homes between July 2010 thru June 2011. From the sample, there were 5,708 usable responses, giving a 7.3% response rate.

Get to know small businesses on Twitter

Can social media help your business? Lots of companies are exploring that, but since it’s hard to measure ROI or immediate impact, they may be leery of it. I participate in both Twitter and Facebook, but I find Twitter much more beneficial. I use it as both a connection tool and as a news feed of current events.

With Twitter, I’ve “met” local people and enjoy chatting with them. Some of them have their own small businesses that they are trying to promote.

  • 3 Babes & A Baker cupcake truck in downtown Columbus OH@3babesandabaker has a Cupcake Truck at the corner of Gay & High Sts in downtown Columbus. Each Saturday she encourages fellow tweeple to give her their guess for the final OSU score. The person coming the closest gets free cupcakes. Last Saturday, I was one of the winners so I hot dog truck in downtown Columbus OHpicked up my yummy cupcakes today. They were scrumptious! While I was there, I purchased a delightful brat from a nearby hotdog truck. >>>>
  • @dogwatchohio has an electronic pet fence business. The Murph already has a regular fence, but if I was in the market for an electronic fence, I would call the DogWatch family. They seem like nice people and I enjoy their funny dog photos.
  • @DraperyDiva owns a window covering business called Home Source, located on Rt 315 in the Mount Air area north of I-270. It’s a great place to shop for quality blinds, shades, etc. We’re having a tweet-up there this Saturday morning to celebrate OSU’s win over that state up north. So I’ll get to meet a lot of other tweeples in person.
  • Dream Dinners, Powell OH@DreamDinnersOH offers a place to fix your own meals, then take them home to freeze. It’s located in Powell next to my office.
  • @DanielleNeil is a photographer that takes graduation photos and pet photos. What she is capable of doing with the dogs is awesome!
  • @HillsMarket is a popular grocery store known for high-quality meats and deli. In their tweets, they let us know when special foods have arrived or special food events are planned. They also are located on Rt 315 just north of I-270, opposite the entrance to Worthington Hills.
  • @AllonsTravel has a travel agency. She does extensive traveling to be able to recommend special places for her clients. As might be expected, she’s started getting inquiries for the Bucks Bowl Game destination.
  • @HoneyGrove has a boutique natural candle shop in Creekside Gahanna. Some of the candle flavors she mentions sound good enough to eat.
  • @OhioBrian is a communications manager for the city of Gahanna. He keeps everyone apprised of the events being held there and in particular the Creekside area.
  • Thanks to @joingles and @annfisherwosu I am watching more PBS to catch their local & state news, and discussions.

If you use Twitter, I highly recommend following these local people. Unlike some, they actually engage in conversation and don’t just put out auto-tweet ads. I believe this Saturday is to be small business day to counter the Black Friday that supports the mega stores. Support a local small business this weekend.

Copyright © 2010. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

Beware of Craigslist

Craigslist started out as a good thing. But over time, as with so much of the Internet, the nasties are ruining it. It used to be an additional option for real estate agents to gain exposure on their listings. I used to use it to provide an extra way for potential buyers to be made aware of the homes. To protect my sellers, I’ve stopped using it.

In the past year, the scammers have found another way to bilk money from unsuspecting people. They are taking all the info from the legitimate for-sale listing that an agent has entered, including photos. They then post this home in the ‘homes for rent’ portion of Craigslist. When a potential renter emails the scammer, the scammer emails back, pretending to be the owner, that they were going to sell but decided to rent instead since they had to move to Nigeria or England or some other foreign country. The “renter” will be sent the keys to the home after they mail $XXX to the scammer. Of course, the “renter” never receives the keys and are out whatever money they foolishly mailed to the scammer.

This past week, I received a call from a woman wanting to rent a home. She had found one on Craigslist that she knew was for sale, but she also found it in the ‘for rent’ section. She had already had a couple of email communications with the scammer. The scammer used the real name of the home’s owner (available on the county auditor’s website) and indicated he had moved to Nigeria. She was to send $500 to get the keys. The woman had also found another similar home where her instructions were to send the money to the United Kingdom.

Our Board of Realtors keep us advised of these events. There have been some reports where the potential renter actually went to the home and approached the seller/owner. 

This scam is not just a local problem … it’s nationwide. Just as the police, sheriff’s offices and the news media indicate … DON’T SEND MONEY to someone you don’t know.

Copyright © 2010. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

Realtors® take Stranger-Danger seriously

gunmanYou may have heard in the news that two northeast Ohio real estate agents were murdered last week, and a third one was held at gun point and robbed – all separate incidents. All were in the process of showing homes to supposed buyers in the cities in which they worked.

It was ironic since September is deemed to be Realtor® Safety Month. Our various associations have chosen that month to remind us of the steps we need to take to be safe on the job. One might not think that being a Realtor® could be a hazardous job, but we’re easy prey because we often are showing homes to people we barely know. The welcome screen on our MLS system alerts us to suspicious behavior or crimes so we can be on the look-out.

In the years I’ve been in the business, I’ve noticed agents have been changing the way they do business.

  • Fewer open houses are being held. With most Internet sites allowing us to post many photos and the use of video tours, there is less need to subject a seller’s possessions to potential theft. Serious buyers can get a good idea of the interior of the home and if interested, can set up a showing with their agent. Agents are also less willing to expose themselves to the personal risk of holding an open house where total strangers are coming through the door. If you drive around Delaware County on a Sunday afternoon, have you noticed how few open house signs are on the corners of intersections (other than builders’ models)? A few years ago, those signs sprouted like spring dandelions but not anymore.
  • Don’t expect an agent to be a “pop-tart”. Pop-tart is the name we give to agents who will rush to show a home to a buyer with a mere phone call. It happens when a buyer calls to say they want to see a particular home “right now” or in an hour or two. The eager (desperate) agent pops-up to go show the home without even knowing whether the buyer is qualified to purchase it. Most agents just aren’t doing this anymore as it’s too risky and can be wasted effort if the buyer hasn’t even talked to a lender yet.
  • Expect to be asked to CITO. When a buyer first contacts an agent about buying a home, the professional agent will require the buyer to Come-Into-The-Office for a preliminary meeting. The agent will gather all key info from the buyer, discuss their criteria and goals, inform them of the buying process and set-up for them to meet with a lender so they know what price of home the buyer is apt to be approved to buy.
  • You may be asked to drive your own car. Fewer agents are loading buyers into their own car to view homes. They ask the buyer to follow them in the buyer’s car. There are several reasons for this, one of which is the agent’s safety. There are two other economic reasons for agents. One is that it can reduce the amount of car insurance and the liability if there is an accident. The other is that it doesn’t require the agent to buy an over-sized car in order to carry additional people.

If you’re a buyer, you may notice a change in the way the agents work now versus years ago unless you personally know the agent. Please don’t take offense with it and certainly don’t take it personally. The agent is doing what they think is necessary to protect their life. You would do the same.

Read more “Safety” articles

Copyright © 2010. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

“Stranger Danger” applies to home sellers, too.

I advise my home sellers of potential security dangers when their home is on the market. One of the reasons they hire me is all the Internet exposure I give to their home. However, there are also risks in doing that. Not only are potential buyers viewing those photos, but “bad people” may also be viewing. Unfortunately, it’s the world we live in now.

Today, as I was working in the MLS, I noticed something in a photo that I had not thought of previously, even though I’ve seen it before. There seems to be a trend in children’s rooms to place large stickers or wall hangings that spell out the child’s name. All of a sudden it occurred to me how dangerous this could be.

The “bad person” already has access to your home’s address via the listing and the mapping features that most home-for-sale Internet sites include. While it’s fun to look at satellite photos of our homes, those photos give a lot of valuable info to potential thieves or predators. Don’t give the bad guys the additional knowledge of your child’s name as well. If a predator knows your child’s name, your child may think the predator is less of a stranger. Best to remove those stickers or wall hangings when the real estate agent takes photos of your home.

Here’s some other cautions when your home is on the market:

  • Remove valuable collections or artwork so they are not photographed or in the home.
  • Remove gun cases.
  • Place prescription drugs in a safe, secure place so a potential buyer cannot access them during showings.
  • Put all paperwork that includes account numbers (checks, credit card bills, etc.) in a locked file. Same for jewelry, piggybanks, etc.
  • If someone drives by your home and says they’re an interested buyer and would like to see your home, NEVER EVER let them in. Tell them to call your agent for a showing, afterall the number is on the yard sign. If they’re a legitimate buyer they’ll do that. If they’re a bad person, you will have avoided a bad situation.
  • Electronics are such a big part of our everyday lives that it is quite common to see multiple computers and TV’s in a home’s photos. Just be aware that they can be an enticement to thieves and via the photos, the thieves will know what rooms the electronics are in and which window might be the easiest access.
  • Normally I remove dog food dishes and beds when taking photos. I’m beginning to think that it might not be a bad idea to leave them in the photo as a subtle reminder that there is a dog inside. Even the little guys, like The Murph, can be a deterrent because they bark so much. (OK, so he’s not the threat that my Dobes were, but he is much, much noisier and just as protective of his property.)

As I tell my clients, just because there is a for-sale sign in the yard, doesn’t mean they should let their guard down. Keep your home safe and secure as you would normally do, but use a little extra caution.

Copyright © 2010. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

Learning to use my “Big Girl” camera

I’ve made many references in various articles here about the importance of good photos when marketing a home for sale. Over the last few months, I’ve “put my money where my mouth is“. I bought what I call my “big girl” camera.

Sony A-300 camera

Photo taken with my Blackberry

Then I had to buy a book to figure out how to use it because the mini instructions that came with the camera assumed the user actually knew something about SLR’s. Then I found I really needed to buy a longer range flash attachment. Of course, I already had a tripod.

All told, I’ve invested about $1000 to take nice photos of my listings. I’m only about 1/4 of the way through the big book, so I’ve still got a lot to learn. AUTO is my favorite go-to setting right now, but I’ll get there.

This Sony A-300 is a great camera for a Realtor® because it goes down to 18mm, which means much more of the room can be in the photo. No it’s not a funny looking fisheye lens … it’s just a wider shot. The other handy thing is the LED viewing screen. It is movable up or down so if I hold the camera high over my head – because I’m not real tall - I can tilt the screen to still see the image. Or I can hold the camera low and tilt the screen up to see the image. That’s handy because getting down on my knees isn’t always convenient – especially outside in snow or mud.

The new flash attachment can be tilted to bounce the light off the ceiling, thus lighting the whole room or targeted to brighten a specific area. Its only negative is that the batteries can be drained when shooting a large home. I normally take 100-200 photos. The batteries last through the 100 photos but give out by the time I reach 200.

I still carry my little Nikon CoolPix2 in the car for quick shots or videos during my day, and of course, my Blackberry camera is ALWAYS with me. But for the serious stuff, my BIG GIRL camera gets to go along.

Now, if I could just figure out this ISO-thingey.

Copyright © 2010. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.