UK Rental Costs Outpace Gross Income

The UK has seen quite a steep difference of pace between the rate of growth of rental costs for private property tenants , up 60% over the last 10 years, as compared to gross income which has only gone up by 31% over the same decade. The pressure to pay rent is at a fast growing high, along with the need to pay for all other expenses, and according to recent data from Shelter, 1.4 million Britons are falling behind with their rent or mortgage payments.

In 2012 alone, the number of those having difficulties in making their monthly rent or mortgage payments increased by 44%, meaning 7.8 million people are currently in this situation. Shelter research also showed that about a million people used a payday loan to help pay their rent or mortgage in 2012, another 2.8 million people using unauthorised overdrafts to come up with the money for payments, of which 10% used this method every month.

'These uncomfortable statistics highlight the need for letting agents and landlords to carry out thorough checks on applicants when letting a property to ensure that they can afford to pay the rent,' said Michael Portman, managing director of specialist risk management and insurance company LetRisks. 'Times are very tough for many tenants and demand for rental accommodation is on a sharp increase. Landlords and letting agents need to extra vigilant when they take on a new tenant.  But a few simple checks will help identify if a tenant is in a good financial position or not.'

As a result of this situation, landlords and agents need to pay more attention to they way they review potential tenants, doing credit and background checks before closing any deals, or even asking for references from previous landlords.

Photo source

Apartments.com Does Their Bit for America's Homeless

ConcreteNetwork.com Publishes Updated Information on Foundation Failure

January 29, 2013 By Alina Popescu

Fannie Mae Report: Housing Market Transitions to a New 'Normal'

Most real estate watchers are in agreement that markets are getting better, but whether or not we can say that means things are returning to 'normal' remains to be seen. We're seeing a recovery of sorts, but a closer look at the stats reveals numerous anomalies in the state of the real estate market's health that would seem to suggest that we're far from a return to 'normal' conditions.

© Paul Fleet ' Fotolia.com

Or could it just be that our vision of 'normal' itself is undergoing a transition? This is the question that Fannie Mae recently tried to answer'

Fannie Mae's recent report Transition to 'Normal'? points out that a large degree of uncertainty remains over both the housing market and the larger economy.

'Our forecast is that 2013 and 2014 will exhibit below-potential economic growth. This is despite the fact that we expect the housing rebound will continue and that the economy will benefit from the gradual increased growth of U.S.-based manufacturing, as well as the expansion of domestic energy production.'

Here's a quick summary of the main points highlighted in Fannie's report:

Interest rates to stay low

Despite some arguing to the contrary, Fannie Mae is of the opinion that rates will remain at their current low level for quite a few years at least. The mortgage giant predicts that rates will remain lower than 4.2% until at least the end of 2014.

Less refinancing

Fannie Mae is predicting that the recent boom in refinancing will come to a close, saying that 2013 is likely to be the first of several transitional years as finance markets revert to a 'normal' balance between refinance and purchase-related activity.

Cost of FHA loans to rise

It's likely that more costs will be assigned to loans under the Federal Housing Administration.

Foreclosure rates to fall

With both homeowners and banks eager to pursue alternatives to foreclosure, such as short sales and refinancing deals, it's likely that we'll see foreclosure rates fall even further.

More housing starts

Fannie Mae boldly predicts a 23% rise in the number of housing starts, which would be 60% greater than 2010, when the construction industry hit rock bottom. We've already seen evidence of this in the number of new housing permits being granted, although Fannie Mae says that it'll take until 2016 before we start seeing housing starts reach sustainable levels.

Mortgage originations to rise

Finally, Fannie Mae is expecting mortgage originations to pick up substantially this year in light of its predicted improvements in the housing market, rising to $642 billion from last year's forecast of $518 billion.

The full report from Fannie Mae can be accessed here.

National Leadership Summit Hosted by CREW Memphis

This year's Commercial Real Estate Women Network National Winter Leadership Summit and Council Meeting is due to take place at the Peabody Hotel in Memphis. The idea is to help women in the industry network, to help the local chapter build its brand within the local area market, and to enable attendees to learn more about Memphis.

Delegates and board members of CREW will meet in Memphis this Thursday and Friday to take part in leadership training and a series of workshops. It is a national event that is now in its 24th year, with this being the first meeting of 2013. CREW Network has 76 chapters across the US and Canada, and each chapter nominates two delegates to attend the summit; it's their job to bring back communications to their local chapter, enabling them to know what's happening at the network level. The 8,000 members include lawyers, insurance agents, brokers, engineers, appraisers, and other professionals who are involved in commercial real estate.

The CREW Memphis chapter was founded in 2007, and at the moment it's the only one in Tennessee that's affiliated with national CREW. Apparently Memphis was chosen as the host city this year due to its central location, and it's expected around 200 members and guests will attend the event. Other factors influencing the choice were the history associated with Memphis, its cultural value and tourism. The local chapter in Memphis currently has 20 members. As the host city, it should help the local chapter build their brand within the local market, and CREW Memphis is also focused on increasing its membership this year.

In addition to attending Council meetings, leadership exercises and delegate training, the summit's guests will be able to take advantage of some of the unique events planned by CREW Memphis. On the first day attendees will be able to choose between 10 restaurant locations that are within trolley or walking distance of The Peabody. On the Friday morning attendees will be able to choose between a 2 mile run or a 1 mile walk around Downtown Memphis that is led by local members. Apparently this is something of a tradition, and is a favorite event as it gets attendees outside and into the city before spending the day in meetings.

FRED Chart: Mortgage Delinquency Rates Up Again, Fundamentals Favor Investors

Just when you thought it was safe to go back into the housing market. I've seen numerous articles in the media on how well the housing market is picking up. Many 'experts' are predicting that 2013 will be the year that a housing recovery finally picks up steam. But The St. Louis Federal Reserve Bank has some interesting housing data of their own.

Turns out that mortgage delinquencies among the top 100 banks are almost at 12% of all mortgages held by the top 100 banks. As illustrated in the chart below:

Mortgage Delinquencies up significantly in 2012.

The chart shows graphically that delinquencies have been rising consistently over the last half of 2012, but the specific numbers included in the data set reveal some very interesting facts that are fundamental to the health of the housing market and any hope of a true recovery.

The data set goes back to January 1st, 1991. You may recall if you've been in the real estate industry for a while, that 1991 wasn't exactly a rosy year either. The real estate market had just weathered it's first major storm since the great depression. Interest rates were still hovering in the 9% range. We'd had a recession then too.

On January 1, 1991, the delinquency rate was a whopping 2.98%. By January of 1992, it had 'peaked' at 3.32% before it finally began to go down and stay down. By April of 2003, it was well below 2% and stayed there until it finally broke above 4% for the first time, in January of 2008. It had only been climbing incrementally for the four previous quarters.

As 2008 went on, delinquencies finally reached 7.76% in the last quarter of 2008. When the Obama administration took office in 2009, the delinquency rate was 8.73 percent. An all time high at the time. After reaching a new all time high of 12.66% in 2010, delinquencies fell back to a 'low' of 11.66% in 2011. They are at 11.98% as of the third quarter of 2012. This is the latest figure available as of this writing.

As for what kind of numbers this translates into, if my research is correct, we are talking about approximately 30 million mortgages. 12% of 30 million equates to about 3,600,000 borrowers in danger of foreclosure at the present time.

The chart below shows in graphic detail how far from normal the housing market really is:

Historical View Of Delinquency Rates Since 1991.

This can hardly be called a recovery, when you consider where 'normal' once was. A continuation of a delinquency rate that is more than five times the historical average, after 4 years, indicates that we do have systemic problems in the greater economy. And these numbers do NOT include those of the FHA, whose own delinquency rate was 16.48% as of December 2012, according to the American Enterprise Institute. Housing itself cannot drive a housing market recovery. Job growth and increasing earnings are big factors.

These fundamentals will continue to work to the favor of real estate investors and buyers with cash. Investors will continue to find a steady stream of foreclosures and shadow inventory out there. There is a shift underway, in favor of renting over buying, and a lower household formation rate will continue for the time being. 'Recovery' is probably not the right word. 'Transition' might be the appropriate word to describe what is happening. It's not your father's housing market anymore.

A How-To Guide On Using Pinterest For Real Estate SEO

It's been awhile since we've discussed how the popular social sharing service Pinterest can help generate traffic to your website. Although the thought of closely managing yet another social media account may sound gut-wrenching, anything that can possibly drive more business and attract more home buyers is certainly worth the extra effort. So just how can Pinterest benefit your real estate website?

Pinterest can be hugely beneficial for real estate agents

What follows is a quick 'how-to guide' on using Pinterest for search engine optimization purposes:

Step 1: Carefully use keywords in your Pinterest profile and Pin Boards. Google and other major search engines are starting to index Pinterest profiles, so making sure all your real estate-related keywords are scattered throughout your description and each specific Pin Board will obviously increase the chances your account will show up during a search.

Step 2: Always link your pins back to your real estate website. Of course not everything you pin has to come from your website, but make sure the majority of your pins offer such links. The best way to do this is by constantly pinning local real estate listings. If you happen to see a fabulous new home listing in your area, with really stunning interior and exterior photos, always be sure to pin these images from the listing pages from YOUR websites.

Step 3: Link your Pinterest account to Facebook. There's no denying that Facebook is currently the most used social network. One of the benefits of frequently using Pinterest is that it allows every user to link their activity to a Facebook account. What does this mean? Simply put, all of your pins and repins will then appear on your Facebook wall, as well as the Facebook ticker, allowing all of your Facebook friends and followers to check out all the great images you're posting on Pinterest. Of course this really only benefits you if you have a strong Facebook following. Which by now, you should.

Step 4: Like other social networks, Pinterest provides real estate agents the opportunity to build safe links back to their real estate website. Pinterest's domain authority has already reached a very high-level, so the more links you build through your account, the stronger your search results will be. In other words, use Pinterest as frequently as other, more mainstream social networks like Facebook and Twitter.

Step 5: Add Pin It buttons to your real estate website and blog. Social sharing is now considered to be one of the easiest ways to drive traffic to your site, so give readers every possible opportunity to share the content and images they see. Installing Pin It buttons couldn't be easier and Pinterest even offers a video tutorial here.

 

Joe Heath is a graduate of Indiana University and also holds a Graduate Certificate in Real Estate Development from Drexel University. After working as a Market Research Associate and writing published Market Snapshots for Hanley Wood Market Intelligence in Chicago, Joe now works as a Web Marketing Specialist and is a managing partner at Real Estate Web Creation, LLC.

The Top 10 Remodeling Gurus on Twitter & How Come [Updated]

Everybody on the Internet loves lists. As to the reason 'why' people enjoy them, it's enough to look at the psychology behind them. Basically though, lists cover a few basic reader needs, and relieve some of the pain of web texts. Not the least of these 'pains' is eye strain and fatigue in reading long texts on your screen, but this is fodder for another article. Let's just say lists are 'easy', and get on with this one. [Updated]

Below are listed the ten best Twitter engagements for remodeling experts (entities) we have found based on a combination of klout and other engagement factors.

@chicagoremodel

Xtreme Remodeling is a Chicago local remodeling company with big Twitter ambitions. If it were not for their following being under 5,000 or so, their huge overall score would set them apart where Tweeting good business is concerned. The long and short of following being reach. They are tops with 2009 Points.

@RemodelingGuy

Moving past some big time brands into this space, on the sheer weight of actually being in the 'conversation', Layton talks with people. And this, is what social media is all about. The Remodeling Guy is among the very best on SM by any measure. AND, he knows his stuff where tools and tips go too. 1716 Points

@moneypit

The name kinda says it all,  now doesn't it? Who can fail to notice how our American Dream can so often turn into a big whole to dump money into. So, to find out how to minimize the damage done, million turn to the money pit gurus. Okay, thousands anyways. Tom and Leslie have become fixtures for anyone who needs to know about what's up on the remodeling end of things. Their 1650 Points prove they are serious about other things too.

@Remodeling_Show

Remodeling Show's social media brigade shows off how come things are always bigger in  Texas, particularly in Dallas. The ever popular show professes Real People.  Real Business.  Real Education. and comes through this way on Twitter too. 1632 Points

@RemodelCrazy

This may sound crazy, but sometimes going out on a ledge just pays off. Not everybody in remodeling, or wanting to, fits a cookie cutter profile of want and need. The peeps at this outfit understand how SM works, and how blogging for effect should be done too. They score big on reciprocity with 1404 Points

@deltafaucet

It's interesting how two of the three top faucet makers are in this list. Delta, another of the world's best products for any kitchen or bath remodel project, shows their understanding of marketing and 21st Century business with their Twitter tone too. Their klout score is a massive 78 (that even beats me). For your Twitter bath remodel search, the 1014 Points of Delta should bring them into view.

@houzz

The folks at Houzz are, by far the most innovative and creative digital people in this space. Their Houzz app for mobile is an award winning, multi-dimensional platform that is not only extremely useful, but addictive once you mess around with it. Evidently, the same drive and innovation which led these folks to make the world's best home improvement app, also transfers to their marketing and digital savvy. They get 10 of 10 for being so obviously the best developers out there. 726.6 points

@Kohler

Let's face it, if you are going to manufacture hardware that is intended for remodeling us' Well, you had better reach out via all the ad and marketing channels to optimize your revenue gain, eh? Kohler looks as if they figured out Twitter some time back. Tweeting frequently, and talking rather than just broadcasting, the world's most famous faucet guys are pretty famous on Twitter too. 558 Points

@NAHBRemodelers

The experts from the National Association of Home Builders have their foot in the proverbial social media door with this Twitter engagement. A great klout score would be far more effective as a ranking measure if the HAHB  peeps followed more persons. Their score suffers for broadcasting a bit too much. 392.0 Points

@CambriaQuartz

Cambria Quarty is not strictly a remodeling expertise company, but with a massive score like theirs, a lot can be gleaned from how they do things on Twitter. AND, they do do some great stuff in the space in the real world too. For me their motto of 'Dream wildly ' live distinctively' says a whole bunch. Why else are we here? They get their honorable mention due to 2128 Points

We welcome your suggestions for Twitter people in the remodeling space as well. Be advise I did not include some because, like Bob Villa and others, they have massive followings without actually caring to listen. And too, some have no klout score at all, or their profiles are purely broadcast and SPAMMY. There are other limiting factors too, but the basic formula for making this list is ' followers over following, multiplied by klout score.

Update One: Interestingly, Moen, one company that almost made the list above, was the second player to respond to my gentle prodding via the social networks. Their Facebook brought the following visit:

Moen Facebook peeps paying attention

Virginia Builder Sues Customer Over Negative Yelp Review

Review sites like Yelp are enormously helpful for consumers when they're looking to see if a business is indeed legit, and such sites can be beneficial for the businesses themselves if they build up a history of feedback from satisfied customers.

But there's also a downside for businesses, in that just one bad review can have a huge negative impact on a company's reputation, resulting in missed job opportunities and a subsequent loss of revenue. In most cases, those that receive negative reviews probably deserve them, but there's always the chance that a company's reputation can be sabotaged by 'fake' bad reviews.

According to one Virginia builder, that's exactly what happened to him when a customer refused to pay outstanding bills. In an attempt to collect the money owed to him, Christopher Dietz has filed a lawsuit against one of his customers, only to discover later that the person in question had given him a '1 star' rating on Yelp, accusing him of charging her for work that was never completed and also stealing jewelry.

Unsurprisingly, Mr. Dietz reckons he's lost quite a bit of business due to this negative review, but he's refusing to take it lying down, filing a lawsuit against the woman that he says has sabotaged his business.

Dietz has filed a lawsuit asking for $750,000 as compensation for lost business and harming his company's reputation, claiming that he's missed out on many new contracts as a result of that bad review.

Dietz might not be able to prove beyond all doubt that his company has suffered due to the negative review, but his arguments are backed by a recent Harvard study that suggests a one star increase in overall rating can lead to a 5% to 9% increase in revenues. He can also take heart from a similar case last year, which according to Forbes, saw one unnamed company rewarded with a $1.6 million payout after a blogger had alleged it stole money from him.

However, Dietz case is likely to be a tricky one for the courts to decide, as cases of this nature are often very complex. Forbes explains:

'These lawsuits are tricky since they present a conflict between freedom of speech and a company's online persona. Freedom of speech, however, doesn't extend to defamatory statements. Since defamation must be based on a false statement in order for the writer to be held liable, lawyers advise writers of these reviews to stick to opinions and truths. If you don't lie, misrepresent yourself or exaggerate your experience, you should not be held liable.'

Ultimately, Dietz will have to prove that the woman in question was lying when she posted her negative review, something that will no doubt be further complicated by the fact that the pair were once classmates in high school together.

The Paradox of Price Per Square Foot Value

Price-per-square-foot is widely used as a basis for estimating value, and it is also one riddled with problems.

One can easily argue, and strongly, that price per square foot has no value in ascertaining value at all. Many variables inherent in deriving price per square foot are insignificant and that renders conclusions based upon them all but worthless. There are of course exceptions; new tract construction, tract condominiums and on occasion newer commercial properties. This article considers existing homes as it is frequently applied broadly and quite inaccurately.

In most cases, price per square foot is derived by dividing sale price by total living area. Simple math for a seemingly simple conclusion, but consider just a few of the more obvious and not so obvious variables (in no order):

• Sale price. What were the circumstances of the sale? Distressed? Arm's length? Motivated seller or one not needing to sell? Closing costs? Were they included or deducted as a concession?
• Buyer. Is this a measured purchase or one by a relo in with a weekend to buy? Were concessions like closing costs, repairs, personal property added to the price? Were concessions made for cash?
• Buyer and seller. Are they educated about the process? Working with competent agents? Savvy with regard to financing and how that may impact the price?
• Square Footage. What is the source of the living area? Is it accurate? Was there a finished basement included in the figure? Does the living area meet FNMA guidelines? Who measured it?
• Condition and Updating. What was the condition of the home? Was it updated? What level of maintenance is there?
• Quality. Is this a custom home, tract home, modular or even mobile? What level are the construction and finishing materials? What about complexity of design; ranch vs custom? Ceiling height? Energy features? Granite or Formica? Brick or frame?
• Features. Is there a basement? Finished? How is it finished? Deck? Pool? Garage or carport? Home theater?
• Site. Is the site functional? Improved with hardscapes? Any adverse external influences? Public utilities? Overall size and terrain? Features and appeal?
• Market Trends. What is going on in the micro market? What is the competing market area? Is it clearly defined?
• Old and New. Are new homes being considered with older existing? Are builders providing incentives? Were the lots purchased at a discount? Is it a mixed community of older and new homes? Does that impact appeal and ultimately price?
• Economic. What is the economic status of the micro and macro market? Labor costs? Union or non-union? Illegal workers paid in cash? Fluctuating material costs? Unfinished residential and commercial projects?

There are obviously more, these are just the ones that come to mind. The most significant one however is the SUBJECTIVITY around the entire process; there are no uniform guidelines because there simply cannot be. It is difficult enough to find a group of appraisers to agree when evaluating a single home, never mind tossing real estate agents into the mix. Experience, opinions, data sources'.all play a role when evaluating a single property, the idea that this can be done for an area with the variables inherent in real estate simply doesn't hold up.

Resist the urge to selectively apply the data frequently pushed by national sources; Case-Shiller, Zestimates and similar macro analysis is good media fodder, however it is all but worthless at the micro market level. Understand the limitations when trying to estimate the market value of a property; no two parcels are the same and the variables are significant. The single most reliable indicator of market value is the market itself; and that is a constantly moving target.

Idinaidi Gets Funding Round for Russia Real Estate Moves Online

In tech news from Russia, the Federation's fastest growing real estate portal, Idinaidi.ru, has just announced having received venture funding. The Sorren Media, along with Camco Private Equity Group, were named in the startup's release. For an early stage startup, there's a lot to be said for this one's chances.

Pro

In public beta testing since mid-December, Idinaidi is squarely aimed at Russia's vast housing market and the rapid adaptation of digital there too. For those unaware, Russia passed Germany as the most 'wired' country in Europe. Experts project that the Russian Federation will have 100 million users by 2015. Stephen Inscoe, Founder and CEO of Idinaidi.ru, offered this comment via the company's press:

'Idinaidi is the product of 2 years research and development involving over 900 people in 38 cities throughout Russia, and is the first site designed from the start as a national mass-market site.'

Con

From a practical standpoint, and looking at the startup's website metrics, it seems highly unlikely more than a handful of users are engaged on the homepage of this site. Alexa rates the young site a PR2 at 2,259,902. No significant SEO seems to have been done, Alexa again shows only 2 sites linking in. The company has created a Twitter profile, but as yet there is little or no engagement. The same situation holds true for Facebook, no real endeavor to either brand or push social media. Even on VK, engagement is at a minimum.

Take Away

There's no doubt the online real estate space for the Russian Federation and other Eastern European nations will expand rapidly in the months and years to come. Startups like Idinaidi can and will assist investors, agents, and all concerned by providing ease of access and good tools too. For very early stage startups, it should also be noted that having several pieces of the development puzzle lagging behind is normal too. Still, ramping up social media and marketing, along with core constituencies, is vital for what one could call any 'killer' startup.

I will say this for Idinaidi, among the hundreds of Russian startups I have scrutinized these last 10 years, their's is among the top 10 percent for understanding 'at least' that there are many channels needed to drive business. Looking at how they have already embraced tablets' We'll follow this one closely.

 

HUD's Obama Scorecard: Pokes Down and Out Homeowners in Eyes

News from the US Housing Department from Friday shows new homes sales in the US for December fell 7.3 percent. This number was down from November's totals, which were the highest in the last couple of years. Aside the beans being counted though, it would seem some care and tenderness in drafting reports about struggling homeowners is needed at the agency.

Sales for 2012 were up to 367,000 units, or the most since 2009, according to the report.  The so-called Obama Administration Scorecard from HUD reveals a market in flux. The below key component of the report

• Home prices showed 12 month gains 
• President Obama's foreclosure programs continue to help those in need
• And HAMP also continues to help many stay out of foreclosure

Still, even with these broad headlines across the front page of the report, digging deeper into the December Scorecard (PDF) it seems clear the report contains some 'hollow data' too. For an instance, reporting on refinancing by owners in a graph like the one below, does not say much when compared to refinance overall. In short, the administration seems to be taking credit for system and cylical trends here.

Courtesy The Office of Housing and Urban Development

'Housing Councillors Serving Millions of Families', 'Homeowner Savings from Reduced Mortgage Payments', and other charts used in this latest report do little beside suggesting 'Hey, we are doing stuff up here.' Or at least this is a fair assessment for some.

A final criticism here has to go to whomever wrote the texts for this report. In the most politically correct town, in the most politically correct country on Earth, HUD offers a stab at America's 'irresponsible mortgagees' here:

'Millions of responsible families who had made their monthly payments and had ful'lled their obligations saw their property values fall. They also found themselves unable to re'nance at lower mortgage rates.'

Does this mean all those 'irresponsible' slackers now out of their homes, or 'taxing' the system for assistance and counselling did less somehow? Sorry to bring this up in a  news report, but the lingo here stymied me. On the one had bureaucrats expect their constituents to swallow charts and numbers hook-line-and-sinker, and on the other make no bones about dancing on the pride of those families hit hardest by the Great Recession?

We look forward to your thoughts on this aspect.

Why So Many Low Inventories?

Just about every market in the US has seen home prices gain in recent months, while available housing stocks have taken a tumble. But why is it that just as buyer demand starts to pick up, inventories have fallen so low?

Markets seling out fast © Andy Dean ' Fotolia.com

According to the NAR, total inventory in the US fell to just 1.82 million homes at the close of 2012, 21.6% lower than December 2011. In a recent investigation, the Wall Street Journal highlighted some of the causes of falling inventories:

Sellers hesitant:

One of the most fundamental problems remains the number of homeowners that are still underwater ' some 22% of those with mortgages, according to CoreLogic. Homeowners in this situation are reluctant to sell as doing so would mean taking a big financial hit. Consequently, those areas with the highest percentage of underwater borrowers have some of the lowest inventories around.

Investors change strategy:

A second problem is that investors make up a huge portion of active buyers at present. But whereas before the idea was to snap up a property, do it up and move it along, many are now changing tack, doing up the homes they buy and renting them out to feed the growing demand in this market. As a result, fewer doer-uppers are coming onto the market.

Lack of equity:

While not everyone is underwater, a great deal of homeowners lack equity in their current homes, hence they are unable to 'trade up' for a better home. General practice is for buyers to use the proceeds from the sale of their current home to finance a down payment on one that's more expensive, but this is becoming less common simply because most people don't see enough equity in their properties.

Fewer foreclosures:

Faced with more scrutiny over the way they handle foreclosures, banks are moving at a far slower pace than before when it comes to repossessing homes. As such, we're seeing far fewer foreclosed properties come onto the market than before.

Less new homes:

It's only recently that the new home market has shown signs of a rebound, but while the number of housing permit applications has increased recently, builders still need time to build these new developments. Between 2009 and 2011, the number of housing starts fell to record lows, hence we've seen little by way of 'new' inventory come onto the market.

Shea Homes' Origen at Civita Sweep National Awards

Origen honored as the nation's Neighborhood of the Year amid a competition of the nation's best. 

Courtesy ORIGEN

In design and architecture news, Shea Homes San Diego has just won several gold medals for their contemporary new urban community, Origen at Civita in San Diego's Mission Valley. Present at the ceremonies at the National Sales and Marketing Council's The Nationals awards (now in their 32nd year),  Origen took Neighborhood of the Year, and the following other categories:

• Best Sales Center [Shea Homes San Diego and Design Line Interiors]
• Best Interior Merchandising of a Model Under 1,500 Square Feet for Origen socialGarden plan 1 [Shea Homes San Diego and CDC Interiors]
• Best Interior Merchandising of a Model from 1,500-2,000 Square Feet for Origen skyLoft plan 1 [Shea Homes San Diego and Design Line Interiors]
• Best Architectural Design of an Attached Home Plan for Origen socialGarden plan 1 [Shea Homes San Diego and Woodley Architectural Group]

Vanessa Linn, vice president of sales and marketing for Shea Homes San Diego, offered the following via the company's press release:

'Origen represents a huge leap outside our comfort zone. This was our first foray into vertical architecture and urban infill, and we challenged our team of design professionals to create something absolutely original in the marketplace. We're grateful for their contributions to the success of Origen and to the ultimate customer satisfaction expressed by our new homeowners.'

Designed by Michael L. Woodley's (at left) Woodley Architectural Group,  and with interiors by Design Line Interiors, this Origen community consists of 200 3 & 4 bedroom town homes spread over two distinct neighborhoods. The video below speaks of the Shea Homes features at one of the communities.

For Woodley's part, his firm works with some of the most respected builders in the United States. And Design Line Interiors not only has some of the most striking interior concepts we've seen, but as striking a website for visitors to grasp what they can do. Their client list reads like a 'who's who' of California developers.

For more information on Origen's news and offerings, please visit the prescribed links or call: Jan Percival of Scribe Communications at: 858-414-4715

Addition by Illumination: Under-Cabinet Lighting Can Make Your Rooms Come Alive

Have you ever noticed how under-cabinet lighting can make a room, almost any room, look better? Kitchens, studies, laundry rooms and bathrooms can all be improved by this simple addition.

While there are a plethora of lighting options, each has its own virtues and methods of installation. If you're interested in complementary lighting in any of your rooms, take a look at this helpful primer on lighting choices and tips for installing each.

© francisco ' Fotolia.com

LED Lighting

LED bulbs are all the rage these days and this remains the case with under-cabinet lighting.

Pros: They're energy efficient, bright, and can last for decades. While they're known for their stark white-blue luminance, some newer bulbs imitate the warmer white glow of incandescent bulbs, making them a good possibility for any space.

Cons: The higher price tag may scare off some potential buyers, but LED proponents will tell you that the energy they save makes up for the elevated cost. Another thing to consider with LED lighting is that while the bulbs themselves are quite small, the lighting system itself is comparable in size to fluorescent or incandescent lamps.

There are several under-cabinet applications for LED lighting.

LED Tape lighting, also called strip lighting, is a popular under-cabinet choice for its low profile and easy installation.

Installation Tips:

1. Locate the power source. Make sure the light cord is long enough to reach it.
2. Adapters are usually included, but if they're not, you can find them at your local hardware store.
3. Hide the driver somewhere it cannot be seen, like on top of the cabinet.
4. Some rare cases may require you to install mounts and then attach the strip to the mount.

LED stick lighting is nearly identical to LED tape lighting except the lights are housed on a rigid plastic or metal 'stick.'

Installation Tip:

1. Stick lighting normally requires the simple installation of a few brackets for holding the fixture; they're normally installed with a few screws.

LED spot lighting is often used if focused bright light is the goal.

Installation Tip:

1. For recessed lights it is extremely important to match the light size to the size of the drill bit you use. If the holes are too large the lights will fall through.

© Sergey Nivens ' Fotolia.com

Incandescent Lighting

Incandescent lighting is the most common form of under-cabinet lighting due to its low cost. Although incandescent bulbs have gotten a bad rap due to their inefficiency and short life, more expensive varieties, like xenon and halogen, last longer, and are slightly more energy efficient than standard bulbs.

Pros: It's cheap, there are several options, the lighting is warm, and it's easy to replace bulbs when they burn out.

Cons: They have the shortest life, about two years if the light is used three hours per day. They are the least energy efficient. 

Those considering incandescent under-cabinet lighting have three choices: puck, light strips, and linear fixtures. 

Puck Lighting: Puck lights look similar to hockey pucks, hence the name. These lights are popular choices for those who would like to have circular pools of light, rather than an entire area lit. They have a low profile of about two inches which means they can be mounted under cabinets or recessed easily.

Installation Tips:

1. Measure the wire length. You'll need to measure from light to light. Don't forget to account for the power source.
2. Use a staple gun or plastic clips to hold wiring in place. 

Light Strips: Incandescent light strips are similar to LED strips in that they too can be cut to fit any area. They provide warm, uniform lighting for the desired area.

Installation Tips:

1. Some strips may be mounted, others may be stapled
2. For low voltage systems, a transformer will be necessary.

Linear Fixtures: Sometimes referred to as light bars, these come in a variety of shapes and sizes. Multiple halogen or xenon lamps produce the light in these fixtures. For more illumination, consider xenon lamps.

Installation Tip:

1. You will want the bar to be nearly as wide as the area it will mount to, so be sure to measure beforehand.

© amikosa & Fotolia

Fluorescent Lighting

Fluorescent lighting is a third option for under-cabinet lighting. They are more energy efficient than incandescent lighting, though outperformed by LED bulbs. These fixtures are sometimes sold in two classifications: regular and premium. Some companies opt to include multiple brightness settings as opposed to dimmers.

Pros: Fluorescent bulbs offer better efficiency and longer life as compared to incandescent ones.

Cons: They're more expensive than incandescent bulbs. Bulb life can be shortened by frequent on/off operation.

Compact Fluorescent Puck Lighting - These perform like incandescent puck lights, but better. They can be plugged in or hardwired depending on the product and wishes of the installer.

Installation Tips:

1. As with every installation, measure twice, mark, and then drill once.
2. Measure the wire length. You'll need to measure from light to light. Don't forget to account for the power source.
3. Use a staple gun or plastic clips to hold wiring in place.

Linear Fluorescent Fixtures - Again, these fluorescent fixtures are very similar to their incandescent neighbors, they just perform better.

Installation Tip:

1. Measure the area where you plan to mount the bar. You will want the bar to be nearly as wide as the area it will mount to.

Take Away

Complementary lighting can give rooms in your home just the look you've been aiming for. In theory and if price is of no consequence, LED technology is superior, but in reality, every room is different. If you're considering under-cabinet lighting, take a trip to your local hardware store and see examples of each lighting type in person. That way, your complementary lighting will be tailored specifically to you.

Additional photo credits: Feature Home Depot 'How To' image ' courtesy © pics721 ' Fotolia.com

Regional Real Estate Deal News: January 25, 2013

In today's real estate news roundup we feature a number of multi-million dollar transactions impacting cities across the US, a new leasing agreement on a prominent New York office tower, the grand opening of a master planned community in Texas, and more.

Atlanta, Georgia. Courtesy ssinharoy

Here are our real estate highlights for January 25^th, 2013

Preferred Apartment Communities, Inc has just announced the acquisition of three separate multi-family communities in Austin, Texas; Atlanta, Georgia and Raleigh, North Carolina, comprising a total of 928 apartment homes. The multi-family property management specialists stated that the transaction was financed using the proceeds of its recently finalized $40 million private placement transaction, and said that it plans to rebrand the three communities as 'Preferred Apartment Communities'. The total cost of three acquisitions was approximately $90 million.

Dallas-based investment firm Hillwood Investment Properties has just provided details of eight major transactions it carried out over the last month, acquiring industrial properties in five major US cities totaling 2.6 million sq. ft. The acquisitions included three industrial buildings in Chicago's Fox Valley, O'Hare, and I-55 submarkets, two properties in Orlando's Southwest Orange submarket, and additional purchases in Indianapolis, Memphis and Atlanta. The deal increase Hillwood Investment Properties' total portfolio sized to an impressive 9.7 million square feet. Hillwood's Executive Vice President of Acquisitions Tom Fishman (pictured left) had this to say:

'We continue to increase our industrial portfolio with selective acquisitions in our targeted industrial markets. We closed out 2012 with incredible success and will continue seeking strategic investment opportunities in 2013.'

Vornado Realty Trust finally clarified speculation surrounding LNR Property LLC's future, announcing that the diversified real estate investment, finance, management and development company has entered into a definitive agreement to be sold, without providing any details on the buyer. Vornado, a 26.2% stakeholder in LNR Property LLC, said that the deal would be finalized in the second quarter of this year, netting the trust a cool $241 million.

650 Fifth Avenue

In New York, the South Korea-based Hana Bank has agreed to renew its 7,318 sq. ft. lease on the 15^th floor of 650 Fifth Avenue, a prominent office block located on the northern edge of Rockefeller Center. Dr. Houshang Ahmadi, President of the Alavi Foundation that owns the 650 Fifth Avenue Company, made the following statement on announcing the deal:

'Coming right on the heels of the building's recent extensive capital improvement program, this transaction is further proof of our commitment to quality services and long-term tenant retention. 650 Fifth Avenue remains a premier New York City office location and we are pleased to negotiate a beneficial lease renewal for a respected financial organization such as Hana Bank.'

Blackburn Communities has just given details of a planned Pre-Grand Opening event that puts the spotlight on its newest community, The Preserve at Mayfield Ranch in Southern Texas. The event is set to take place on February 9 from 12pm to 5pm, and will give interested buyers the first opportunity to select a homesite and preferred floor plan, and take advantage of discounted pre-grand opening prices. With its modern homes priced in the $170K to $240K range, and its advantageous location at the crossroads of Round Rock, Cedar Park and Georgetown, The Preserve at Mayfair Ranch is likely to attract a great deal of attention from regular buyers and investors alike. Those interested in attending the event or learning more about this master planned community can download the brochure and RSVP here.

Artist rendering of The Preserve at Mayfield Ranch

One final piece of news comes from the real estate firm Prudential Northwest Properties, which has revamped its website at www.prunw.com, adding compatibility with mobile devices, improved search tools, a simplified user interface, video listings and user-generated real estate market information. The most impressive new feature is a new interactive map powered by BrokerTec Systems's Market Watch technology, highlighting trends, active listings, price changes and other info for any market in the US.

RealtyBiz Tool Short: zipConsult Makes zipForm® Conversational

Last week,  the real estate industry's leading contract software outfit, zipLogix, announced the release of their zipConsult conferencing service. Designed to amplify the all round utility of their popular zipForm® contract software, zipConsult is powered byAnyMeeting. AnyMeeting, with an integrated zipForm 6 Pro, may emerge as the premier mobile meetup combo for the industry.

The long and short of this product release is fairly simple for any agency to get actually. Meeting online, with the capability of reviewing documents collectively, ending in the more efficient and timely closing of deals? This is what business, especially small business, really needs from technology.  Video conferencing, doc sharing, and particularly the capability to 'hook up' on the go, these are features agents and the industry need and want.

Not unlike hospitality, PR, or any other especially digital capable industry, real estate is particularly conducive of better mobile capabilities. The day of the static office deal are rapidly fading into the past as more and more buyers and sellers utilize smart devices as carry along assistants. The ability to buy and sell, and to meet and virtual 'handshake', this is what tools like zipConsult can enable. Meetings can be scheduled in the blink of an eye, on the spur of the moment.

Furthermore, if we look at what's ahead for mobile technologies, then AnyMeeting and companies like ZipLogix are actually in a prime position to integrate into the future of business. To see what I mean, watch the video below with Cisco's Padma Warrior. In this segment on the The Gavin Newsom Show, she discusses the next shift in mobile smartness ' device to device communications.

Now, the end of this tech tale is obviously a futuristic image. The image is one of the need for office space disappearing altogether. If you can, image a world where no service industry exec or office worker ever has to drive to work. For sustainability of our planet, conservation of resources, and to fulfill the promise technology has always held ' advanced communicative thinking is the way.

Soon you will be able to touch a wall in your house and transform it into a communications interface AND a window into any genre you can think of. Oh wait, you can do that now. The future, which is actually now, is about our connectivity being more enhanced than ever, from whatever distance. Like the Xperia Z video from Sony at article's end, shows a man on a mountain ' he might as easily be meeting to sign a closing. Just imagine.

zipLogix is a subsidiary of Real Estate Business Services, Inc. (REBS), the business is a joint operation in conjunction with the NATIONAL ASSOCIATION OF REALTORS® (NAR). For more information about this latest release or other zipLogix products, follow the links or call: 866-MY FORMS (866-693-6767)

How To Protect Your Business Brand Online

Building and protecting your business brand online is different from building your personal brand. There are many things that need to be considered in order to be legally protected from the very beginning, no matter if you are just starting or you've been in the business for a while.

Look out for copy cats ' courtesy Mikko Luntiala

Here's what you need to do to ensure your business brand is protected online:

Check whether the business or brand name is free. Before you decide whether to accept the brilliant name you thought of for your brand and business, you must first check whether it is available, or you might get in trouble. If the name is already taken your application will be rejected and you won't be able to register it. You can do this check for free online.

Form a Limited Liability Company (LLC). It is important to form a LLC before you register your trademark because this way it can be placed under your LLC.

Register your trademark. To legally protect your assets, though not actually required by law, it is still good idea to register your trademark. The process lasts somewhere between 9 months and a year, and the costs are at least about $350, but it's totally worthy of the security you get in return.

Protect your brand name nationally. If you expect your business to expand in the future out of your local area, you'll have to protect your brand nationally as well, and not only by registering your name and forming a LLC.

Also register a Federal Trademark. If your business goes national, to protect your business brand against infringement you need to also register your trademark with the Federal US Patent and Trademark Office.

Get yourself a domain name. To communicate with your customers, no matter if your business is strictly online or you are using the Internet to get your brand out on the market, you'll need a domain name for your company website. Register the best before someone else takes it and asks you for more money.

Protect your brand internationally. You never know how your business idea will develop ' even though you are now just starting you may one day see excellent opportunities to expand your brand to different countries. It will then be important to have your brand internationally protected against infringement. Also file your trademark with the country where you are expanding your business.

Make sure your brand is protected against plagiarism. Original quality content is very important for your company website to rank higher in the popular search engine results. But if you don't protect it against plagiarism other websites might steal it and create duplicates that will hurt your brand ratings and online reputation.

You can use the plagiarism checker to check whether the content on your website is unique and original. If you find your content has been stolen, you can first contact the plagiarist website or its hosting company and ask them to remove the duplicate content, or you can ask Google to help if additional steps are required.

About the author: Sandra Miller is a freelance writer from Brooklyn. She loves writing tech tips.

Heartbreak Hotel Awaits Some Spring Home Sellers

Over the next few months, many sellers will have their hearts broken. This will be primarily self-inflicted but much of it enabled by collaborating real estate agents. The hurt will come as a result of the positive real estate news splashed across the headlines. Sellers are already putting on rose colored glasses, bumping their list prices and finding many agents willing to champion their cause.

Heartbreak hotel awaits. Courtesy Thomas Hawk

Reality however, bites; and it bites hard. While there may be some merit to reports of an improving market, it needs to kept in context and most importantly, data at the local level must be considered before national reports.

Sellers must understand ' and responsible agents will hopefully stress ' that any purchase price can be placed on a sales contract, the challenge is getting that contract through the appraisal and underwriting phase. Enter the big, biting dog called Reality; and it's not the appraiser that is doing the biting, it's the underwriting process. Pounding and berating the appraisal process is pointless; appraisers care about one thing, complying with underwriting requirements. They are tasked with providing an impartial and supported opinion of value. They are not there to validate a purchase agreement or to set market value; they simply prepare their report based upon the current industry requirements.

We may be in an improving market, but remember that appraisals employ closed sales. Appraisers will use closed sales up to a year prior when writing their report. If prices for the spring market are in fact rising, the challenge then is to find justification with comparables that may not demonstrate that. Unless underwriting requirements loosen a bit to reflect this rising market, the spring season may be one filled with consternation.  The solution isn't clearly apparent but just as appraisers reflected declining markets for years; a first step might be to note slightly increasing values if the data can be clearly found; perhaps by adding a bit more reliability to pending and even realistically priced listings. Underwriting policies and lenders must adjust and allow the appraisers to do their job if appreciation can be supported.

Real estate agents play a major role in keeping the market moving forward. The best agents will look at a potential listing as an appraiser will, will brief the seller with that data and explain the appraisal process. Most importantly, they will ensure that the seller sees, understands and uses the applicable data; they will not act as enablers and over list a home simply to get a listing. The very common agent tactic of telling sellers what they want to hear is very damaging to a property and the market in general. Extended marketing times, repeated price reductions and stale listings do not paint a picture of a robust, improving market. Agents need to truthfully answer the 'what is my home worth?' question.

After many depressed years there are signs of improvement in most real estate markets. Professional agents are critical to fostering this recovery; they play a central role representing clients in what is likely the largest financial transaction that they will ever be involved in. Tough love for sellers may be needed, but agents applying that professionalism, knowledge and experience, this will benefit not only the seller but the market in general. The spring sales will set the comparable tables for the summer and fall market; let's do it correctly.

 

About the author: Hank Miller is a full time Associate Broker and Certified Appraiser in Atlanta. He is known as much for his attention to detail as he is for his candor. Visit www.hankmillerteam.com for all things real estate.

Regional Real Estate Deal News: January 24, 2013

In property and other real estate related deals this morning, several large acquisitions with local and regional impact took place over the last several days. Michigan, California, Florida, Iowa, and other states are represented.

Monroe, Michigan ' Wikipedia

Here is are selected regional realty news stories for January 24th, 2013.

La-Z-Boy Incorporated just finalized the acquisition of a block of land interned for building a new World Headquarters for La-Z-Boy. The site, purchased from the Monroe-based Sisters of Monroe, Michigan, will see ground breaking in the Spring. Some 500 employees are expected to work at the new headquarters. The $50 million dollar project is scheduled for completion in late 2014 or early 2015.

Transaction leaders NetAuthority have just announced the grand opening of their new technology and product center in Freemont, California. Slated to meet the growing demand for NetAuthority R&D and product management, the new facility will also be for operational and technical support of their operations. NetAuthority is the leader in authentication of devices across financial, healthcare and other markets. The new facility is located at 39300 Civic Center Drive, Suite 180, in Fremont, California.  The company headquarters will remain in downtown San Francisco.

Starwood Property Trust  and  Starwood Capital Group just announced an acquisition of LNR Property LLC ('LNR') for a total purchase price of $1.05 billion in cash. Founded in 1969, LNL is a diversified real estate investment and management firm of 12 offices and 550 employees in the US and Europe. CEO Barry Sternlicht of Starwood offered this:

'We are delighted to announce this transformative and highly strategic acquisition that diversifies Starwood Property Trust's revenue sources, adds significant scale to our operating platform and dramatically expands our proprietary origination capabilities. We expect the combination of LNR's capabilities, Starwood Property Trust's superior access to capital, and both firms' underwriting expertise to result in a long-term and sustainable competitive advantage.'

The agreement states Starwood Property Trust is to acquire certain LNR businesses for a sale price of $856 million. For more information on this deal, please read the original press release here.

Waypoint Homes, Inc. has just announced offering homes for rent in Tampa and For Lauderdale, Florida. A leader in the rapidly growing REO to rental sector, Waypoint works with local agents and contractors to rejuvenate and market homes for rent or sale. Thus far the company owns some 3,000 plus homes, mostly in California.

In sustainability news, the University of Iowa Green Energy Initiative got a Biomass Hurst Boiler installed as part of that institution's Oakdale Research Park campus in Coralville, Iowa. Hurst Boilers is now part of the initiative to have 40 percent of its energy needs met with renewable resources by the end of 2020. The installed boiler replaced the old natural gas boiler, which Hurst had to custom fit exclusively. Capable of combustion of hundreds of different fuel types, the Hurst units are state-of-the-art technology for a sustainable future. The video below tells a bit more about their operations, but interested readers may want to visit the company's website.

There's also more information available via the original press release via PRWeb.

Fortune 500 construction company EMCOR Group, Inc. has just announced their subsidiary, Shambaugh & Son, having received the contract to design and build a new manufacturing facility for Cayuga Milk Ingredients. The Auburn, New York project will be a 110,000 square foot complex will undoubtedly add new jobs and revenue flow for this part of New York.

RBF Consulting (RBF) was just selected by Escondido, California to do construction management on the $30 million dollar Kake Wohlford Dam project. The reservoir project in San Diego County consists of enlarging and already existing dam and other engineering there. The reservoir provides some 30% of the city's water. RBF is a Company of Michael Baker Corporation, that provides engineering, design, and planning services worldwide.

 

Chicago's Best Realtor Follows on Facebook

There are numerous ways to stay up-to-date with the housing market in Chicago these days and Facebook is certainly near the top of that list. A simple status update from local real estate agents can inform home buyers of a hot new condo listing to hit the market or what neighborhood you should consider for your next home.

But with Facebook now being so mainstream among agents in the industry, who exactly is worth following? If you're looking for quality updates on a regular basis without going overboard, we recommend the following Chicago agents or brokerages:

• Baird & Warner-Real estate is more than just the home you live in ' it's the life you get out of it.

• Resurrecting Real Estate- Resurrecting Real Estate was established for the sole purpose of preserving, managing and selling REO assets. Our goal is to bring innovative and efficient systems into our market place, to service our Clients in a way which has not been seen before

• Ashley Authurs- Ashley Arthurs is focused on providing her clients with a successful and seamless real estate experience. Through her client focused approach, she uses her keen understanding of the marketplace and city trends to guide her clients to the best decisions.

• See Chicago Real Estate- For more than 25 years, Ted Guarnero has been a leader in downtown Chicago's residential real estate market, developing a loyal following of homebuyers and sellers, developers, and community leaders.

• Sobborgo- Sobborgo.com is suburban Chicago's most comprehensive real estate website. Contact their team of real estate pros for more info on homes for sale in your Chicago suburb.

• Luxury Living- Luxury Living Chicago is a boutique marketing and apartment finding resource. We work directly with the newest full amenity high rise buildings in downtown Chicago and provide the most professional experience.

• Tessi Neuhauser- Tessi Neuhauser is a Real Estate Broker specializing in The Gold Coast. Her love of people, Chicago and Real Estate makes her the perfect combination for helping you find your next home.

• Danielle Dowell- Danielle has been a Chicago real estate broker since 2006. She provides her clients with firsthand, thorough knowledge of the city while offering market expertise that expands over Chicago's neighborhoods

• Sherri Kramer- Sherri has been a realtor in Chicago since 1986 and top producer with Coldwell Banker Residential's Lincoln Park Plaza office for 16 years. Her business is based on repeat and referral clients, providing the best marketing support to Sellers and helping Buyers through the complicated process of purchasing a home.

• Christine Hancock- Christine is very internet savvy and offers the most cutting edge and effective real estate technology tools currently available. Along with that, Christine believes that the best use of technology will save time and money for both her and her clients.

• Urban Real Estate- Creatively mixing Chicago Real Estate and Technology for all Chicagoans!!

• iMove Chicago- Bringing Chicago home' iMove Chicago is a full service real estate brokerage working each day for you. Together, let's move.

• Skipper Denton- A Real estate professional ' integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how I work.

 

Main image courtesy of Franco Bouly via Flickr.com

How to Use Yelp for Real Estate Agents

In a digital world where everything is online, agent reviews can sometimes be an under-rated, under-appreciated lead generation resource. When someone runs a search for 'good real estate agents in [city name],' often times Yelp will be a top search result. So when users click on Yelp to find a local agent, wouldn't it be nice if a link to your contact information was the first thing they see?

Over 25 million people access Yelp's website each month to find local businesses and services; so believe it or not, gaining new clients because of Yelp reviews is actually more common than you may think. But in order to take advantage of this free, and sometimes lucrative, resource, real estate agents need to treat their Yelp account just as they would their Facebook and Twitter accounts.

So If you don't already have a Yelp Business account, start one for free and follow these simple rules to help grow your business today:

1)      Be Specific & Provide Details

If your Yelp profile isn't comprehensive and complete, the chances of it being beneficial are slim to none. The objective here is to attract home buyers and sellers by explaining your skills and expertise as an agent. So under the 'Business Information' tab, write a minimum of four paragraphs of quality content that explains your history as an agent, specialties, qualifications, and background.

2)      Don't Forget Photos!

You don't go a day without adding photos to Facebook, so don't forget to add these pictures on Yelp as well. Along with a professional headshot as your profile picture, add some images of your office, favorite listings, and even of your past clients (as long as you have their consent). Pictures can go a long way in potential clients feeling comfortable contacting you, so don't hold back here.

3)      Promote Your Yelp Account

You've spent all this time bulking up your Yelp account and dozens of your clients have taken the time to write positive reviews about your real estate business. Now what? Add some Yelp badges on your website or hyperlink your Yelp account within your web content. Just some of the Yelp buttons web developers can use to post on your real estate website can be found here.

4)      Respond & Communicate

Yelp Business accounts allow users to respond and communicate with clients who have reviewed your business. As each review comes in, positive or negative, always thank those who took time out to leave a response. And in the case of a negative review, be polite and simply engage this person with questions relating to what you could have done better to serve them during their new home search.

5)      DON'T SPAM

Perhaps the most important factor when building your Yelp profile is to avoid the temptation of creating false reviews just to fill out your profile. More often than not, consumers can easily tell the difference between a bogus review and a legitimate one'so don't waste your time creating something fake. In the long run, creating false Yelp reviews will only hurt your business and likely turn off potential new clients instead of attracting them. Don't believe me? Check out the following example and tell me how likely you are to use this company during your next apartment search after it's clear they've manufactured their own reviews.

 

Joe Heath is a graduate of Indiana University and also holds a Graduate Certificate in Real Estate Development from Drexel University. After working as a Market Research Associate and writing published Market Snapshots for Hanley Wood Market Intelligence in Chicago, Joe now works as a Web Marketing Specialist and is a managing partner at Real Estate Web Creation, LLC.

7 SEO Must-dos for Every Real Estate Website: No Excuses

Consider this: In 2011, according to J.D. Power reports as noted on an AGBeat release, only a measly 58% of home sellers use websites and website listings to promote properties. This number was peaking at 82% in the year 2010.

The total percentage of sellers listing homes on websites could be attributed to homeowners doing it themselves or real estate agents doing it on their behalf. The numbers are shockingly disappointing given the growing importance of web presence and Internet marketing for all businesses.

As a real estate agent, there's plenty of opportunity to add value to your businesses by promoting online. Evidently, search marketing proves to be a behemoth with long-term returns. Every real estate agent, however, has a learning curve. If you are looking to make your real estate website work for you, here are at least 7 SEO Must-dos for your website:

Preliminary Checks 

Before you spend a lifetime with SEO, your website needs a preliminary check. Google Webmaster tools provide you with everything you need to know about how your website is indexed by Google, how many links point to it, and how many pages are indexed. If you have too many pages but Google indexes only a few, there could be a problem of duplication of content or anything related. You may also use SEOmoz's tools (free and paid) such as On-Page Analysis, Link Analyzer, Keyword Analysis, and Crawl test to get a diagnostic of your real estate website.  

Keyword Research and Content Inclusions 

Create compelling, industry-leading content for your real estate website. In time, your website should become the 'go to' resource for all things real estate or perhaps gain local, regional, or national authority. Great content automatically leads to other websites and bloggers pointing to your real estate website as a resource which helps you to gain authority which in turns boosts the probability of your website getting found on search engines for keyword phrases or terms that pertain to your real estate business.

While you focus on developing great content, fish out keyword groups or key phrases that customers are most likely to search for and include them in your posts, articles, and other content you are likely to publish. Ensure that you don't overuse keywords to the point that your posts don't make any sense for humans.

Google already provides you with Google Keyword Tool. You may also use third-party keyword tools such as the Free Keyword Tool from Wordtracker.

For instance, if you are a real estate agent in Ohio, Athens, U.S., some of the keywords that relate to your business could be:

Condos in Ohio

Apartments for rent in Athens Ohio

Homes for sale in Athens

 Find ways to insert these keyword phrases creatively into your content. The keyword tools help you find the exact keyword phrases and also many 'opportunities' ' in essence, many other keyword phrases close to your search ' which you can use.

 Get linked, the right way 

As relevant links point to your website appropriately, it gains authority and relevance ' a few of the many parameters that search engines value. As a real estate agent, you also have more enterprising opportunities available to hasten link building for your website apart from creating content that's automatically shared on social media or linked to by bloggers and other publications.

For instance, start with your local chamber of commerce and have them link to your website (you might even want to pay them a visit as it's well worth it). You could become a member of local real estate associations and have them list your website on their membership guild or leader board. Create a buzz, have local bloggers mention your business, launch innovative schemes, launch a walking tour for potential customers, and use contests. Get them talking online and you'll build links faster than what seems possible.

 It's Real Estate. So, Go Local 

Google Places allows you to take advantage of the local search scene. More often than not, Google Places listings precede normal search listings. Google Places Support pages are a great place to start with the basics. Follow Rand Fishkin's post on Google Places SEO if you'd like a more technical explanation. Real estate makes a resounding case study for going local and using the 'local search' advantage since the nature of business is such.

Dress up every page 

On-page SEO is where you could stumble and swagger. Yet, it's crucial to make sure that a few wrinkles are ironed out:

• Avoid too many links on your web pages. Instead, judiciously choose which links are to be displayed on your website or blog since Google search bots (also called as crawlers or spiders) cannot possibly visit every link on every page.
• Link to every important page (originating from your home page).  Links are the only way for crawlers to find your pages.
• Your important content should never hide behind 'Sign-up Forms', 'Contact Forms', or other page elements such as Flash, JavaScript, jQuery, etc. That is unless you purposely want to keep it that way (for premium information for members, for subscription-based sites, etc.).
• Every page or blog post should have its own title (along with a meta title). As such, every page or post should also have tags, a specific category that this content relates to, Meta description, and search-friendly URLs.
• If you use images for your real estate blogs or web pages, include keywords or relevant descriptions while uploading every image.

 

Press Releases (Every real estate listing is news)

Press releases are great for your SEO efforts as they are search engine fodder. Since search engines always look for new information, sending out press releases helps promote your brand, increase exposure, allow you to capture new audiences, and gain massive traffic windfalls to your website.

Further, since press releases are published on news aggregator sites, PR sites, and even picked by Google News, you'll create a rich group of inbound links from these authority news sites to your website.

Now, many business owners and real estate agents think that press releases make sense only if you have to publish something that's 'newsworthy'. Every new property listing on your real estate website is 'news'. Likewise, new real estate services, updated property listings, etc., will all make for great content to publish as press releases.

To be social is plain nice (and potentially profitable)

 Create accounts on Facebook, Google+, Twitter, LinkedIn, and any of the other leading social media platforms. Create a content schedule (separate from your blogging, Press release, and other content creating schedule) and post content on your social media sites related to your real estate business.

You can share news, comment on published articles, and share information on everything that relates to your business. Search engines also capture social media signals, although no one's sure as to how social media contributes to search). The rising importance of Google+ and the fact that Google includes Google+ posts in searches is a strong clue that social media also adds to your SEO efforts.

Are you doing enough justice to your SEO efforts? Do you invest in long-term search engine marketing? As a real estate agent, does SEO work for you?

About the author: Pratik Dholakiya is the Lead SEO Strategist and VP of Marketing at E2M Solutions, a fastest growing internet marketing startup providing post panda/penguin era SEO services to their clients. Get in touch with him through Twitter @DholakiyaPratik.

UK Real Estate Asking Prices on the Rise

UK property asking prices went up by 2% in January froth their December level, leading to a 2.4% year on year increase, as shown by Rightmove data. The property website forecasts that both prices and transaction numbers for real estate will moderately grow in 2013, based on their increase in traffic in the new year. Rightmove also reported that the average asking price of January was of £229,429, a mere 0.4% (or £999) under the highest January figure ever of 2008, £230,428.

While overall data show an increase, there is a regional devide, with a higher increase for property asking prices in London (3.6%), the South East (3%) and the West Midlands 92.6%). At the other end of dropping asking prices are Wales with a 3.5% decrease, East Anglia (2.5%), the North West (1.8) and the Northern region (0.1%). The only Northern regions reporting an increase were Yorkshire and Humberside.

'Those coming to market this month have taken a pragmatic pricing approach and kept their asking prices pretty much the same as sellers in December. Sensible pricing will help buyer affordability, one of the factors needed to help warm up the market and encourage a recovery from the credit crunch freeze in transaction volumes,' said Miles Shipside, director and housing market analyst at Rightmove.  'The thaw will also be helped by growing confidence that prices are more likely to go up than down. There is an increasing body of evidence suggesting genuine green shoots of recovery after a prolonged period of the housing market bumping along the bottom.'

According to the newly released data, the weekly run rate for new properties listing in January was 11,153, 22% higher than last years value. While overall it is still down 37% compared to figures from before the credit crunch recorded five years ago, this is still the highest level in the beginning of a year since 2008.

'While the number of sellers financially fit enough to come to market is still well down on pre credit crunch levels, there appears to be an increased willingness among those that can to give it a go. With Rightmove breaking traffic records, the chances of selling are on the up for sellers whose properties match the price, location and finish requirements of the greater numbers who are searching for a property to buy,' explained Shipside. 'Agents in many parts of the country report that the market remains patchy depending on where you live and what type of property you are selling. However, they are all consistent in noting that it is the best finished properties that are the most in-demand, especially as buyers do not have the spare cash to improve their new home so are hunting for the finished article.'

Rightmove's latest data also showed that those who are going to put property on the market throughout 2013 are primarily driven by discretionary factors. 7 in 10 sellers are in this situation and not forced into the sale by factors such as the three Ds of death, debt and divorce.  Moderately greater mortgage lending might be in play for this year to support the increasing transaction volumes. According to the latest mortgage statistics released by the Bank of England, approvals were up by 3% from November 2011 to November 2012, the highest number of approvals recorded in November since 2007.

'Those on the wrong side of the minimum deposit borderline are still marginalised, but those that have the funds and earning capacity to trade up will find some lenders offering fixed rate deals at their most attractive ever levels. Lenders are also courting buy to let investors as some areas offer a low risk combination of historically cheap purchase prices and attractive rental income. Rightmove research of professional landlords shows that 74% of those surveyed intend to buy and increase their portfolios within the next 12 months,' Shipside explained further. 'A further sign of market recovery is when investors look to property to achieve good returns. The majority of professional property investors appear to have spotted that now is the time to increase their investment, and they are obviously confident that prices are not going to get cheaper.'

While Rightmove comes with a bright forecast for property transactions and the real estate field in general for 2013, not everyone shares their enthusiasm. Nick Hopkinson, director of property company, PPR Estates, painting a very different picture.

'Seller numbers, whilst up on last year, are still around half the numbers needed in a functioning market with an average of only 64 properties per agent in December 2012. Buyers still require huge deposits going into 2013. Typically they still average 20% according to the latest industry data and, of course, a perfect credit score remains essential for any borrowing. Also, potential buyers are not so easily excited about house prices and actual buying prices remain slightly down at best, excluding the London bubble, when you look at the most recent completion statistics,' he said.