Feb 10, 2009

FSBO Struggles

From CNNMoney.com - "Farewell to 'for sale by owner'?":

Not long ago, for sale by owner (FSBO) Web sites were heralded as a fresh entrepreneurial wave that was going to upend the staid real estate industry. In 2006 real estate sales "unassisted" by a broker accounted for 20% of sales made, says Steve Murray, editor and owner of Real Trends, a market research firm in Castle Rock, Colo.

And Now?

Then the bubble burst. During the past four years, David Zwiefelhofer, who designs FSBO Web sites and sells them to real estate entrepreneurs, has sold about 50 regional FSBO sites through his company, FSBOWebsite.com. Only 30 to 35 are still operating.

No surprise, a return to fundamentals.

So were FSBO sites just flashes in the pan? Murray says that with properties harder to sell these days, sellers are returning to brokers for professional marketing help, causing the unassisted slice of the market to slip to around 15%. But he expects the FSBO market to bounce back - eventually.

When times are good, everyone is an expert and knows best when, actually, success oftentimes depends merely on being adequate enough. When times are tough, we seek out the best of the best to help navigate the perils of the time. Yes, real estate does cycle!

As real estate professionals, we need to cycle accordingly with the times. You want to be the expert that people refer to when they seek out professional advice. Changing our businesses and remaining current with the market is never an easy task but continues to get easier with the onset of technology (cell, Internet, etc.). Shame on you if you're not taking advantage of the countless opportunities to learn from and network (blogs, Twitter, Facebook, LinkedIn, all social media venues) with the best in your industry. You can easily pick up the phone and call anyone in the world. You can hop on the Internet and learn the ins and outs of real estate and any other thinkable topic known to man. There are no excuses. Endless knowledge can be found at the tap of our fingertips.

You won't become an expert overnight but it will happen, over time, if you're willing to chip away at learning more techniques to become more proficient regardless of market conditions. In doing so, you will have a much better chance at finding opportunities at a time when despair seems to be the rule of the day for most. Your future is up to you and is in your control to ultimately determine. If you don't like your circumstances use all of the tools and resources available to us to start making a change.

Feb 4, 2009

RE Professionals - What Phone Are You Using?

Real Estate Professionals, what (cell / smart) phone are you using:

1) RIMM / BlackBerry Product
2) Apple / iPhone Product
3) Google / Android Product
4) Other

Please comment letting us know what type / model you are using and whether you would recommend it to other Real Estate Professionals. If time permits, it would be great to hear how you are using your phone to increase your productivity and efficiency!

Disclosure: I'm using an 8703e BlackBerry, over two years old, on the Verizon network. The phone has been GREAT and solid as a ROCK as has been Verizon's service. I extensively use the email capability as I'm often out of my office. I couldn't operate / manage my real estate investments without it. I also extensively use online access / navigation while on the road. I would recommend the phone, but unfortunately it is now out of date, no camera, video, and limited social networking capabilities. There are now, in my opinion, multiple RIMM / BlackBerry products that incorporate the strengths of my 8703e with the latest and greatest technological features! Needless to say, the same goes for products other than RIMM / BlackBerry and the cell phone providers that carry these products.

Now, your turn!

Feb 3, 2009

Mr. Mortgage on Alt-A and Subprime Loans

This video is certainly dated as it goes back towards the Spring of 2008 but the information is definitely worth taking a look at as it indicates what the future should hold for us in the housing market especially in consideration of the Alt-A wave of resets purported to be coming between 2009 and 2012.



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