Realtors can't be slow to react. In the span of a quick lunch break a real estate client can be won or lost. So says a survey in which nearly half of the respondents who searched for their homes on the Internet expected a response to their e-mail to a Realtor in 30 minutes or less. The California Association of Realtors survey showed the number of home buyers who used the Internet to search for properties, communities, answers to their questions or agents has been rising dramatically over the past five years: 62 percent said the Internet figured heavily in their search in 2005, up from 28 percent in 2000; 38 percent of respondents said they did not use the Internet during their home search in 2005 versus 72 percent in 2000. In an increasingly competitive housing market that has more informed and less patient buyers, agents need to be quicker to respond and more informed themselves, experts say. Click here to read more.
National real estate foreclosures up in 2005. Florida, Colorado, Utah post highest foreclosure rates. National real estate foreclosures increased in every quarter of 2005, according to an industry report released today. RealtyTrac, which provides an online marketplace for foreclosure properties, today released year-end data showing that 846,982 properties nationwide entered some stage of foreclosure in 2005, and there was a 25 percent increase in the number of new foreclosures from the first quarter to the fourth quarter. Click here to read more.
Outlook 2006: Real Estate. Though several markets--particularly on the coasts--are overvalued, and prices could drop, good job growth and population growth mean nationwide demand probably won't slow drastically. Meanwhile, industry leaders expect areas with strong job markets and good income-tax receipts to continue to chug along, places such as Florida's Miami-Dade and Broward counties, Nevada's Clark County, and Arizona's Maricopa County. Commercial real estate is based on different patterns and should continue upward. Job growth means employers need more space, and in markets such as Washington, D.C., and midtown Manhattan where there's not much room to build, that demand will shove lease rates higher. Eventually, high occupancy rates should create more supply by attracting developers in areas such as Dallas and Phoenix where there is room to build. Higher interest rates are pushing up development costs, as are the scarcity and price of construction materials. Katrina and Rita knocked out some supply--New Orleans-area cement factories, for example, accounted for 12% of U.S. supply in the first half of 2005--and high oil prices are raising prices for insulation, plastics, and roofing. Click here to read more.
One way to beat real estate capital-gains taxes. Section 1031 of the U.S. tax code allows anyone such tax-deferred exchanges or rollovers of "like-kind" income property. Instead of chasing after another income property to buy and manage again, roll your money into TICs. What's a TIC? Paula Straub, a financial adviser in Carlsbad, Calif., who operates the SaveGainsTax.blogspot.com explains that TIC -- Tenants in Common -- exchanges, allow you to sell your property and roll the proceeds over to shared property where you own a separate, tenant-in-common interest. Click here to read more.
Real estate search sites hit data control sore spot. Industry has mixed reaction to display of property listings. The Propsmart.com Web site carries the slogan, "real estate search + community"; Trulia.com's logo includes the phrase "real estate search"; and Oodle.com is "the search engine for local classifieds." All three sites conduct automated searches for online real estate listings hosted at other Web sites, a technique known as crawling or "spidering," and then collect, reformat and republish parts of that gathered information at their own sites. In every case, these real estate search sites offer links back to the Web sites where the information originated. The sites are part of a growing effort to give consumers easier access to more real estate listings online while driving more consumer traffic to broker Web sites. The real estate industry, though, historically has been very guarded of its property listings and issues with ownership and control of real estate information remain unresolved. Click here to read more.
Land Deals. Commercial Real Estate Forecast: The Weather's Fine. Commercial real estate tends to be a lagging indicator--meaning it recovers from economic downturns slower than other sectors of the economy. California speculators have been fishing in New Mexico for a while now, seemingly attracted by our stable employment rates, relatively low prices, and most importantly, the high occupancy rate and demand for apartments. The trend doesn't look likely to abate anytime soon. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com
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