San Diego Real Estate
Transitioning from the Digital Decade to the Connected Culture
March 21st, 2010 categories: Local San Diego News You Can Use, San Diego Real Estate, Social Media, William's Life in San Diego Musings
As we began our first efforts to absorb what the term social media was, we learned in simple terms that it is about having a conversation with others. Engaging them if you will, one on one. (Understanding that others are always welcome to join in the conversation) We were warned early on that this is also about being personal and not about advertising, at least in the sense that it requires each of use to put ourselves out there and exchange our lives and experiences in hopes of attracting others with similar experiences or at least that would have common interests.
ActiveRain as a network helped us recognize through various tutorials from Brad Andersohn, Jeremy Blantan and Bob Stewart and many others associates in the network on how to log in , set ourselves up with accounts and then invite others to join in. I expect knowing how to do this and actually doing it, there is sometimes a gap or least a couple big questions that pop into our minds.
For some they may see this effort as a frivolous waste of time, as surely no one ever listed their home or bought one because when they were kids they collected stamps and you happened to do that as well. Don’t try and draw any early conclusions just yet as I begin to explore with you, some easy, friendly and very social ways to get started and stay connected.
So let’s assume you already signed up and connected your self to Facebook. Now what? The system in place takes over and voila, you have 3 or 4 friends in the first couple hours. Is that it? No, but it is a beginning of what you already know to be a form of Viral Marketing- which is nothing more complicated than having many others spreading the word. In this case you do a little and others each do a little and before long, lots of people are spreading the word. Your word. The problem is that the 3 new friends are also in Real Estate and the chances of them Buying or selling anything with you is about as remote as winning the lottery. Since you don’t play the lottery either, guessing that analogy doesn’t mean much, right? Stay with me.
So do you get the bigger group of networked friends and actually connect with others that you don’t know but would likley accept as a friend if someone referred them? You can log off Facebook for a bit because you have some thinking and writing to do. Maybe a bit more work than that but try this much smaller effort.
Talk to anyone of your clients you are presently working with and ask them if they have ever heard of Facebook. If they aren’t in advanced senior living, they will likely say yes that they have heard of it or even have a profile there. Ask them about what their experience is and 1. ask if they have already or would add their own profile to Facebook. 2. tell them you will help them get started if they haven’t already. ( 2 newbies and some acquaintances can be a good start).
But how do build somehing meaningful that might help you gain business in the longer run.
Set a goal for yourself to make lists. A list of important business connections you already have. A list of friends, past clients, church members, members of clubs or professional organizations you belong to. Lists of everyone you know, and even lists of those you would like to know. Keep that list for last. So lets identify a few and see what that looks like.
If you have been in real estate for more than an aftrernoon, you will know a real estate attorney, you will know a building contractor, you will know a plumber, you will know an electrician, you will know a doctor, you know lots of people actually that usually escape you when you are thinking of your business sphere of influence . ( meaning that if you paid them or referred them for a product or service, they consider you either their client or a business friend). And all these people know lots of other people.
After you have made up your list and have an e-mail address or phone number beside each name, log back into Facebook and see how many are already there. Searching is quite easy. When you find them, set them up as a friend. For the ones you don’t find, send them an e-mail and ask them if they have a profile on Facebook or call them. If they do have a profile, add them as friends. If they don’t have a profile set up, invite them to join Facebook. You can offer to help them get started in the network.
And you will notice as each of these people begin to add friends, there will be others that you might have known, have met in the past or just sound interesting and you could also make them to be a friend. They will see you immediately with the automated “Friend” request when they log in, you will pop-up in the friends in common.
So even with out building more friends from more lists , it is time to contribute to your new connected culture. Write something on the walls of your friends. Or send them a note to say hello. It should be personal and the goal is seek a common interest. So reading around about what they are saying to others might give you a clue of their interests. Furthering that goal, remember that it is “not about you” , it is about them and what you can easily and comforatably share with them. So find ways of recognizing them even if it is just a Birthday or Anniversary wish. Try this and so you will see how easy it is to find that common denominator for a comment thread.
This is about conversation. An easy way to strike up a conversation if you can’t think of anything beside the weather ( boring), is to ask them a personal or engaging question. Ask to meet them for coffee some time, just keep the connection about personal and not about how good real estate is or how bad it is. There is plenty enough time for that should the need arise.
If someone shares a personal moment, don’t try to be the One -Uppsman. It doesn’t inspire conversation, it usually shuts it down.
Learn about your new friends and the interests they have that drives them. What inspires them, what do they like to respond to. Learn what you have in common. You will build new friendships and revitalize old ones. It is easy. And there are wonderful ways to build your friendship lists up. It is not how many friends you have on the list. It is about how many of those friends you take the time to engage with.
Facebook like all the other networks has many features and even subcultures that at first might seem daunting. Don’t worry about them or cram them into your learning curve. Much of the best part of Facebook is that you can learn easily by doing. It so much more important to participate than to learn it all and not use it. Join in , it’s fun and so easy. Remember , “you can learn most easily by participating”.
Friends would much rather have business relationships with the friends they know and trust then the plethora of people that mean nothing to them. Our Digital decade has evolved and as we transition to our new connected environment, it will one day be as natural as answering the phone. You can optimize your friendships further by sharing links to all your real estate advise and counsel as it is a friendly way to say, “Hey, if you have questions about real estate, you know I’m here”. Not a bad comment in itself, feel free to use it.
| Discussion: Comments »
San Diego Real Estate – CDPE Designation Awarded
January 7th, 2010 categories: San Diego Real Estate
San Diego Real Estate – CDPE Designation Awarded to William Johnson
Earlier this week I completed my live course here in San Diego achieving the new designation of CDPE through the Alex Charfin’s Distressed Property Institute.
Back in the nineties I did a few short sales listings when they were first accepted as means of avoiding foreclosure. Most of the work then was done with the homeowner and the homeowner worked with the loss mitigation department and if there was a hardship many of these homeowners ended up avoiding foreclosure. The consequences at that time for the homeowner were very different.
The short sale process today with the number of distressed homeowners is much more complex and time consuming than it was back then. I recalled being called to take the listing and actually did much less then that I would have to do today in the same situation. The process is more time consuming today having a lot to do with the sheer number of homeowners in distress overwhelming the lenders loss mitigation departments that must make the decision.
Over the past couple years having seeing the real estate business change right before my eyes, I still resisted marketing to the needs of the distressed homeowners thinking I might escape the need to do short sales in my real estate business. Sadly, the distressed homeowners are representing a larger share of the current inventory and in the next few years more and more homeowners are expected to be in this situation. Equity listings are in short supply in my market but the need to help distressed property owners try and prevent foreclosures is on the rise. The need for selling short to help homeoners prevent foreclosure is expected to greatly increase over the next few years.
Knowing something about short sales is simply not enough in this climate. It is necessary to take the course study that teaches the process and provides all the supplemental forms needed for the lender and the transaction. There is also the need to learn specific counseling of the consumer needing to prevent the eminent foreclosure. There is extensive knowledge required and especially in learning and being familiar with the governemnt programs that are currently available or soon will be. While this training helps some mitigate foreclosure, sadly it doesn’t work for everyone. But for each homeowner we help to prevent foreclosure, they become one less statistic and can better get on with the rest of their lives.
The course material and instructor were nothing sort of awesome and I would highly recommend this course presented by the Distressed Property Institute. Short Sales are a lot more work and considerably more time is needed to get the transaction to a successful closing. As real state professionals we must be committed to helping consumers avoid foreclosure even while also knowing that we can’t save them all but we can and do make a difference.
If you are Buying, Selling or Relocating to San Diego and need help from a professional REALTOR®, give me a call or visit my San Diego Real Estate website and sign up for Listing alerts for your favorite San Diego Home and Condominium Property Searches.
I specialize in Single Family Homes and Condominiums throughout the coast and inland areas of San Diego. Some of those communities are La Jolla, University Town Center, Bay Park, Mission Valley, Pacific Beach, Scripts Ranch, Poway, Carmel Mountain Ranch, Rancho Bernardo, Rancho
Penasquitos,Carmel Valley and Solona Beach. If I didn’t mention a city or community that you are interested in, just let me know and i will find you an expert for that community as well.
| Discussion: Comments »
San Diego Real Estate – Affordability Caused By Declining Inventory of Single Family Homes Seems to be Decreasing
November 19th, 2009 categories: Buying San Diego Real Estate, San Diego Real Estate, San Diego Real Estate News, Selling San Diego Real Estate
With fewer homes with equity coming to market and the increasing numbers of buyers vying for the more limited inventory, there are few choices left for the family on even a reasonable budget. Federal Tax credits for First Time Buyers and move -up buyers within a specific income threshold has increased the competition for affordable housing. With prices for an average per square foot dwelling now heading into the $300 per foot range, the lack of inventory coupled with the increased demand is reducing affordability.
I have seen availability coupled with affordability drop, seemingly to close out the family even with a fair amount of income if they need to occupy the property in a reasonable time frame ( most short sale purchases can be several months off if lender approved). The numbers of Buyers for more moderate priced homes has mushroomed and this week alone I have viewed many properties through much of the lower half of San Diego County and touching into the upper half up of the county to the $400,000 level for just such a family. Many short sales have no acceptable occupancy time line and the corporate REO’s have limited financing due to the 90 day FHA flipping rule.
The market has heated up very quickly since the extension and expansion of the Federal Tax Credit for first time and for move-up Buyers in the moderately priced home range. The housing supply is dwindling and the current limited inventory in many cases is going into overbid with multiple offers..
Market conditions seem to indicate that the more affordable single family housing is to be found more inland and anything that is priced well and market ready within 20 to 25 minutes of the coast is getting a lot of Buyer showings and multiple offers within days of bringing the property to market.
Affordability as cited by the economic predictions usually deals with statistics based in medians and averages. I am not dealing with statistics but rather real families with real housing needs. Day after day searches bring me to the conclusion that housing affordability has waned and the price of property is increasing as affordability based on lower inventory are declining.
Please Note: This is real life and I didn’t bother to check to see how my empirical evidence aligns with the actual statistics since my clients are suffering through the real life situation and statistical numbers don’t mean much to them in trying to find a property they can call home.
| Discussion: Comments »
Federal Home Buyer Tax Credit Extended and Enhanced
November 14th, 2009 categories: Buying San Diego Real Estate, San Diego Real Estate, San Diego Real Estate News, San Diego Relocation, Selling San Diego Real Estate
Federal Home Buyer Tax Credit Extended and Enhanced.
If you are Buying, Selling or Relocating to San Diego and need help from a professional REALTOR®, give me a call or visit my San Diego Real Estate website and sign up for Listing alerts for your favorite San Diego Home and Condominium Property Searches.
I specialize in Single Family Homes and Condominiums throughout the coast and inland areas of San Diego. Some of those communities are La Jolla, University Town Center, Bay Park, Mission Valley, Pacific Beach, Scripts Ranch, Poway, Carmel Mountain Ranch, Rancho Bernardo, Rancho
Penasquitos,Carmel Valley and Solona Beach. If I didn’t mention a city or community that you are interested in, just let me know and i will find you an expert for that community as well.
| Discussion: Comments »
San Diego Real Estate – Economic Predictions Indicate Improved Real Estate Market in 2010
November 14th, 2009 categories: San Diego Real Estate
With the now approved extension and enhancement of the Federal Tax Credit for Buyers of residential real estate, we will see a few bright signs through the expanding real estate market at least during the first half of 2010.
While I expect the Winter and the Spring markets to be at least as good as much of 2009 , the indicators will show some more improvement in 2010. Regretfully there will be mortgage resets, the possibility of increasing unemployment and more homeowners defaulting on their mortgages which will offset some of the more positive improvements of the market .
This is not to give a negative perspective of our markets but one of realistic expectations. I expect we are at or near the end of the downward price spiral and things are showing signs of a bit more stability. Interest rates are expected to remain historically low through the first half of the year and beyond that no one is certain about where rates will go. My guess is that they will remain low through the whole year.
Statistically we currently have between 1.5 and 2. 6 million households in the US that are at some stage of foreclosure. And through a larger scope there are over many millions of households that are late on their mortgage. A good percentage of the late pays now being caused by unemployment.
I expect to see more short sales and Reo’s ( Bank Owned Foreclosed Property) in the market in 2010. The National Association of REALTORS predicts in the range of 4.7 million home sales around the US. Here in San Diego a good percentage of our share of those sales will be distressed properties. Maybe as high as 30 to 35%. Equity Sales will increase in 2010 but currently the market has a declining inventory of properties for sale.
We have a ways to go to get a to a fully improved market, although there are new reports daily that the trends are becoming more favorable each quarter. We have had 7 straight quarters of the market moving in an upward direction. We have seen prices begin to stabilize and we have seen prices even increase in a couple areas. We have heard that the percentage of homeowners that are upside down is declining. All good news. We are not out of the woods as yet but we are beginning to see sunlight again through the trees.
| Discussion: Comments »
