More consumers browsing for housing in less risky market

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Interest rates are cooperating, home prices are as low as they've been in a decade and sellers, competing with the abundance of distressed properties, are motivated to make a deal.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - If employment would only cooperate, the housing market could very well bust wide open again.

Well, maybe "bust" isn't the best choice of words in this economy, but interest rates are cooperating, home prices are as low as they've been in a decade and sellers, competing with the abundance of distressed properties, are motivated to make a deal.

And none of this is lost on rank-and-file consumers who appear to be champing at the bit, poised to follow big-spending investors back to market.

In both cases, their timing couldn't be better, according to two new studies.

First-quarter 2010 Internet searches for homes for sale were up 32 percent from the same quarter last year, says one study.

Popular search terms indicate many are first time home buyers.

Increased interest in browsing for housing comes at a time when the housing market has just about bottomed out and poses less risk for buyers, another study says.

Taken together, the two studies appear to indicate it's not a bad time to get down off the fence and check out the grass on the other side.

Composite photo: Home Sweet Home (Donna McNeely, PublicDomainPictures.net) and Woman pointing at a computer (Petr Kratochvil,PublicDomainPictures.net).

You've got news! News that really hits home. The full story is here: "Homebuyers May Be Poised to Pounce on Bargains"

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Site to See: HouseLogic eases home ownership logistics

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This new web site is so exhaustive in its socio-political-economic coverage of homeowner issues as well as down-to-earth news, it could been used to organize and rally home owning consumers around socio-political-economic issues that affect them.

by Broderick Perkins
© 2010 DeadlineNews.Com


Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - Houselogic.com, the newest and perhaps most engaging portal for housing information is a unique compilation of interactive resources no homeowner should be without.

A National Association of Realtors' (NAR) project, HouseLogic hits the information nail on the head helping consumers plan and organize and make wise decisions about a host of homeownership issues, including home improvements, finances, taxes, insurance, even neighborhood issues, homeowner association life and green living.

The new site is so exhaustive in its socio-political-economic coverage of homeowner issues as well as down-to-earth news, it could been used to organize home owning consumers around socio-political-economic issues that affect them.

HouseLogic doesn't simply serve up information on a glossy user interface, though glossy and clean it is. Each menu offers current news and information in a way that engages the user in an interactive learning experience.

You can explore all you want without signing up, but to really dig deep and reap the site's full benefits, you'll need to sign up, sign in and get to work.

NAR promises not to use your information or share it unless you buy something from a third party, but as always, read the small print to be sure what can happen to your personal information.

Once you've signed up, begin by filling your "binder," your online workspace, with tasks and projects and all the information you can grab for later perusal and work. HouseLogic does some of the work for you, if, when signing up you let the site know of issues or concerns most important to you. You can also create you own custom tasks and projects not listed in HouseLogic's vast library.

The projects and tasks can be performed both "on paper," say, in a read-and-learn task, or in real life, say, a home improvement job.

Numerous existing projects, tasks and related information are available in different categories. Each category is under a different menu. The menus include, "Improve," "Maintain," "Engage," "Taxes & Incentives," "Finances & Insurance" and "News & Activity."

Each project typically comes with information you can read and learn, tasks to perform (real and on paper) and later a quiz to put your knowledge to work. You can also assign priorities and due dates for each project and tasks within the project.

Completed projects earn points and badges in different categories. While you can't cash them in they serve as reminders of your progress. Consider them bragging rights.

For example "Invest a Tax Refund in Your Home: $1,000 Projects" suggests ways you can invest a tax refund to save on energy costs, pay off your mortgage sooner, or add a community improvement. A short test grants you a few points and you're off.

The information, test and a report form (to report how much you saved if you actually made the investment) comes with more and less expensive tax refund investment ideas, a host of other related money saving and budgeting projects, a discussion area and other useful tools and gadgets.

Other projects with similar flourishes include creating an emergency kit, helping to expand waste recycling programs, adding electrical service to your studio or workshop, seasonal maintenance chores and tracking capital investments, to name just a few.

In addition to project-related information, also use your binder to store news stories, add checklists, leave yourself notes and dated reminders, reach out to your Facebook account and otherwise just get your house in order.

Unless you make it your life to work the site, you'll never run out of projects.

If you do, there's always the HouseLogic newsletter to help you get the most value out of your home, news alerts about national housing issues, news alerts targeting your local market and still more newsy podcasts.

A HouseLogic segment is also planned for Real Estate Today radio.

"We as Realtors are proud to offer this resource to consumers, because it's backed by industry insights of Realtors and it has information for consumers at different stages of the homeownership lifecycle," said Karl Lee, president of the Santa Clara County Association of Realtors."

"HouseLogic is unique in that it helps consumers view their home through a financial lens and make smart, informed home improvement decisions," he added.

HouseLogic is unique. It would be illogical not to bookmark it.

A feature of DeadlineNews.Com, "Site To See" reviews are occasional, but timely critiques of content-heavy real estate Web sites deemed unique, consumer-friendly, informative and easy to use.


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You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins was the first Examiner to cover three beats for the Examiner.com news service:
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Browsing for housing requires both on-line, off-line smarts

The California Association of Realtors (CAR) reports that 84 percent of home buyers use the Internet as a significant part of the home buying process, according to its 2009 Survey of California Homebuyers. But transforming digital digs into a real home of your dreams isn't just about bandwidth and educational content.

by Broderick Perkins
© 2010 DeadlineNews.Com



Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - Nearly nine out of 10 home buyers can't be wrong -- browsing for housing online puts listings at their fingertips, speeds the home-buying process, and comes with an educational bonus.

"As more people go online to look for homes, it helps the Realtor too. The buyers are able to refine and narrow their search of homes by the time they contact a Realtor. We look at it as good teamwork," says Jeff Barnett, vice president and regional manager of Alain Pinel Realtors in Los Gatos.

The California Association of Realtors (CAR) reports that 84 percent of home buyers use the internet as a significant part of the home buying process, according to its 2009 Survey of California Homebuyers.

But transforming digital digs into a real home of your dreams isn't just about bandwidth and educational content.

"Shopping online helps the buyers initially determine what type of home, location, and amenities they want," says Michael A. Sibilia, a broker with Keller Williams Realty in Campbell.

"However, I don't think shopping online will ever replace the traditional home buying process, but it does supplement it," added Sibilia, president-elect of the Santa Clara County Association of Realtors (SCCAOR).

Using the Internet to buy a home comes with the same prerequisite necessary for any buyer -- get financing locked down first. A home buyer with an approved mortgage -- obtained online or off -- has a negotiating edge and the financial boundaries necessary to help keep focused on a home that's truly affordable.

Only then is it time to surf for shelter.

DotHomes.com, a listing site with Google-like search features, offers these tips to help buyers get the most out of their online home shopping experience.

• Leverage the broker. Brokers and real estate agents are the housing market's matchmakers. They've honed local expertise and online tools to help you research, browse and focus your online search. The tools put you in touch with broker blogs, emailed updates tailored to your search, market reports tailored to your market, how-tos and other information.

"Shopping, online or offline, is only the first phase of the home buying process," says Karl Lee, SCCAOR's 2010 president.

"Realtors who understand the current market dynamics will guide buyers in analyzing market value, and more importantly, determining what the home is worth to the buyer," said Lee, also broker/owner Realty World Results Pros in Milpitas.

• Search in real-time. Get property listings and other information electronically "fed" to you via RSS (really simple syndication) feeds, email alerts and Web updates. The updates are an adjunct to your own time spent online. Alerts keep you abreast of the newest listings and reduce your need to repeatedly manually check the Web for updates. Use Blackberries, iPhones and other smart phones to remain connected when you are on the go.

• Search "fresh." Avoid fringe listing sites that don't update frequently and are far removed from the original online broker's listing. Web sites that don't link to the original listing, lock you away from updates.

"My pet peeve is, still to this day, my clients call me on a listing that is either pending, withdrawn, canceled, or worse, sold and closed months ago," says Pat Kapowich, broker/owner Kapowich Real Estate in Cupertino.

• Refine your search. With so many listings on the market, both traditional listings and distressed properties, quickly navigating them all is a chore. Use online tools and Web sites that allow you to refine your property search. Search by street, square footage, pet friendly condos, etc. Be specific with search terms like "new roof," "three-car garage," "established landscaping," "new kitchen appliances," etc. to find the property with the features you need.

Along with the well known national listing Web sites from trade groups, large private listing portals and real estate companies, the local multiple listing service's (MLS) public access portal (in Silicon Valley, that's MLSListings.com) are among the best places to search on line because they use standard formatting and strict guidelines about adding and removing listings in a timely manner.

• Screen home movies. A picture is worth a thousand words, but a video, a virtual open house, looks like a million bucks. Videos offer a much better sense of the proportions and the feel of a property. They can also play the starring role -- as a sort of 24-hour open house -- on a Web site or blog specifically dedicated to the listing. What's more if you buy a home with it's own Web site and virtual tour, you can ask the seller or agent to gift the Web site or blog to you.

Also read:

Net ease doesn't guarantee bargains

Roost study sugges 'Word up'

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© 2010 DeadlineNews.Com

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You are reading a sample of "News that really hits home!", now available from several beats and published in a growing number of locations.

Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins is also the first Examiner to cover three beats for the Examiner.com news service:
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Net's Ease Doesn't Guarantee Bargains

Browsing for housing on the Internet has become just about as important has having a real estate agent help find a home to buy, but the ease of finding a home on the Net does not guarantee a bargain.

by Broderick Perkins
© 2008 DeadlineNews.Com

Unauthorized use of this story is a copyright violation -- a federal crime


Deadline Newsroom - Browsing for housing on the Internet has become just about as important has having a real estate agent help find a home to buy, but the ease of finding a home on the Net does not guarantee a bargain.

According to National Association of Realtors data culled by ForSaleByOwner.com,
in 1997, 50 percent of all buyers found their homes through a real estate agent. By 2007 that number had fallen to 34 percent.

During the same period, the percentage of buyers who found a home on the Net soared from 2 percent to 29 percent.

More homebuyers than ever are using the Internet to find the homes to buy because most real estate agents put their listings on the Net, more real estate Multiple Listings Services have gone public thanks to information technology and more and more listings Web sites are popping up to make the online search easier and more complete.

In 2007, the other ways buyers found homes were a yard sign, 14 percent; home builder and friend or relative, 8 percent each; newspaper ad and direct from sellers, 3 percent each; book or magazine, 1 percent.

"With millions of online real estate searches done monthly, it's no surprise that the Internet is so effective at helping people find their ideal home, condo or vacation property," said Greg Healy, VP of Operations.

"This data, which comes from the National Association of Realtors, provides more evidence that real estate consumers are very successful in finding homes on their own," he added.

Finding homes easy, finding deals, not so much

Nevertheless, the lack of uniformity in quality control, geographic coverage and search methods from one Web site to another, still often renders the online search less than complete.

And, according Redfin.com, buyers shouldn't confuse finding a home quickly with finding a hot deal. That still requires some work.

"Homebuyers have begun crawling out of their bomb shelters hungry for big
discounts off the asking price," said Redfin CEO Glenn Kelman.

"Often, their expectations are unrealistic, as many sellers have already aggressively priced their homes. But when conditions are right, we've found that a small but significant number of sellers concede $50,000 or more at the negotiating table. We've tried to take the mystery out of when a seller will give ground and when she'll stand firm," Kelman said.

Redfin's "Science of Real Estate" center studied the differences between homes that sold for a large discount and those that didn't, and came up with guidance for buyers looking for large discounts.

The recommendations aren't negotiating tips but "what-to-look-for" tips.

Redfin says:

Look for languishing listings. Heavily discounted homes are 83 percent more likely to have been on the market for 90 days or more. Most sellers will hesitate to accept a low offer if the property has been on the market for only a few weeks.

Find fixer-uppers. Heavily discounted homes are 73 percent more likely to need some fixing up. People who sell homes before fixing them up are usually more concerned about speedy selling than peak price. Get the home inspected before you buy so you know exactly what needs work.

Retreat from remodels. Heavily discounted homes are 20 percent less likely to feature a noteworthy remodel. This also means sellers who sink money into major remodels before they list could be missing out on certain buyers.

Pick properties with pared prices. Homes that are already heavily discounted are 28 percent more likely to already have price reductions. Duh.

Hunt homes with long-time owners. Heavily discounted homes are 52 percent more likely to have been seller-owned for 20 years or more. The longer a seller has owned a property, the more equity he has likely accumulated, and the more likely he is to make significant price concessions.

Put your finger on a flip. On the other hand, heavily discounted homes are 9 percent more likely to have been owned for less than five years. A home owner or investor in trouble may be motivated by the need to quickly reclaim capital, rather than wait for equity growth.

Don't bank on bigger bargains from bank-owned homes. Heavily discounted homes are 9 percent more likely to be a short sale or bank-owned. Banks lower prices as much as possible from the beginning to unload distressed properties as quickly as possible, but no so much to take more of a loss than is necessary.

© 2008 DeadlineNews.Com

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Broderick Perkins, an award-winning consumer journalist of 30 years, is publisher and executive editor of San Jose, CA-based DeadlineNews Group -- DeadlineNews.Com, a real estate news and consulting service and Web site and the new Deadline Newsroom, DeadlineNews.Com's news back shop. In both cases, it's where all the news really hits home.

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Roost Study Suggests: 'Word Up'

Words are power when it comes to searching for a home, according to a recent study from a browsing-for-housing Web site that tracked the most common words consumers used when searching for homes. They aren't the same words real estate agents most often use when crafting listing descriptions, according to the same Web site.

by Broderick Perkins
© 2008 DeadlineNews.Com

Unauthorized use of this story is a copyright violation -- a federal crime

Deadline Newsroom - You may not understand the true power of words until you've tried to sell a home.

All those flowery terms, catch phrases and over-blown adjectives used in listings become, well, just words when Internet browsing-for-housing buyers want to really hone in on the house of their dreams.

Real estate agents? Take note.

When the Roost.com home search engine for homes took a peck at what words their 100,000 Web visitors-per month used in June 2008 to narrow down broader searches for homes, it came up with a Top-20 list that might surprise real estate agents crafting listing ads.

Here's the Top 10.

1. Pool
2. Garage
3. Hardwood
4. Waterfront
5. View
6. Basement
7. Tile
8. Deck
9. Condo
10. Shop

"I wouldn't bet the house will sell when you use these words, but it can't hurt," says Roost chief marketing officer, Drew Izzo.

However, it is somewhat of a revelation that none of those words show up on a previous Roost analysis of the most popular words real estate brokers use to describe homes for sale.

Here's that Top 10.

1. New
2. Large
3. Great
4. Beautiful
5. Open
6. Huge
7. Finished
8. Spacious
9. Custom
10. Newer

On the Roost Web site, after housing browsers select the city and drill down by housing type, price, bedrooms, baths, square feet, year built, recently addeds, and other variables, they also get neighborhood and school filters.

Then, a new feature, the "Keyword Search Terms" filter, lets them zero in further for specific sought-after features. There are clickable listed terms browsers can add to their filtering effort -- pool, hardwood, yard, basement, private, fireplace, remodeled, vaulted (ceiling), renovated, parking, golf, tile, tennis, granite, reduced and motivated. Browsers can also type in one self-determined feature, say, "townhome," "loft," or "gated."

Roosters say their studies reveal even experienced real estate agents could use a little boning up on key words considering those consumers use to hunt for properties. Most would agree, the more marketing tools the merrier in today's tough real estate market.

"Business is down, so real estate agents need to be more effective in how they spend money. And that's why we are trying to be more helpful in terms of driving more qualified leads to their sites," said Izzo.

Izzo says Roost's deep search features allow for a more engaged housing browser and real estate agents should take note of what engages home shoppers.

The extra filter, which apparently serves consumers' desire for very customized home searches, gives consumers an edge in terms of weeding out properties they don't want.

"That's how we got the data. This is the stuff consumers are looking for. If I was a seller, these items (where available) would be something I would highlight in a listing," said Izzo.

© 2008 DeadlineNews.Com

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Broderick Perkins, an award-winning consumer journalist of 30 years, is publisher and executive editor of San Jose, CA-based DeadlineNews Group -- DeadlineNews.Com, a real estate news and consulting service and Web site and the new Deadline Newsroom, DeadlineNews.Com's news back shop. In both cases, it's where all the news really hits home.

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Successful Browsing For Housing

Browsing for housing online isn't just about fat bandwidth and interactive content. DotHomes.com says using a studied approach to home shopping online is more important.

by Broderick Perkins
© 2008 DeadlineNews.Com

Deadline Newsroom - It's no secret in the world of residential real estate that well-informed home buyers who are also quick on their feet get the best pole position.

And there's nothing like browsing for housing online to bring knowledge and speed to the home-buying contest.

"More informed buyers, improve the transaction process," says Douglas de Jager, co-founder of DotHomes.com, the latest home listing portal on the block.

"There is so much more information made available to us online, when you go to the actual home, it's just a validation process for what you've seen online," he added.

But transforming digital digs into a real home of your dreams isn't just about bandwidth and content.

DotHomes.com offers these little-reported tips to help you get the most out of your online home shopping experience.

• Leverage the broker. Capitalize on the fact that brokers and real estate agents are the "matchmakers" in the residential real estate world. They use local expertise to connect buyers and sellers. Research, browse and focus your search online with tools they provide. They generally are tools that put you quickly in contact with all of the information and resources the listing agent or broker has to offer. Broker blogs, market reports, how-tos and other information can give you the foundation for an informed online home search.

• Search in real-time. First come, first served takes on new meaning with property listings and other information electronically "fed" to you via RSS (really simple syndication) feeds, email alerts and Web updates. When fresh inventory is tough to find, alerts will keep you abreast of the newest listings and eliminate the need to manually check the Web again and again for updates. When you are on the go, you can tune into alerts via your Blackberry, iPhone or other device and stay up even as you drive from open house to open house.

"It's the difference between push and pull. You pull in information rather than going out a looking for the specific information you need to come to you," said de Jager.

• Zero-in. With so many listings on the market, quickly navigating them all is a chore. Use online tools that allow you to refine your property search. If you are looking for a house on a particular street, search the street. If you need a pet friendly condo, ask. Whether you know exactly what you want or are just starting to figure it out, be specific with search terms like "new roof," "three-car garage," "established landscaping," "new kitchen appliances," etc. to find the property with the features you need.

"With so much inventory, rather than 20 to 30 pages of results, you can refine your search and get down to precisely those things you want," de Jager said.

• Search "fresh." Avoid Web sites that don't update frequently and are far removed from the original online broker listing. If you don't, you'll miss out on listing changes and updates like new pricing information, new photos, open house dates and the like. Web sites that don't link to the original listing, lock you away from updates. Nothing is more frustrating than to find online what you consider your dream home only to soon discover that the listing was sold, removed from the market or otherwise changed beyond your requirements.

"It's much the same way when you put a listing in a monthly magazine. Don't expect that it's just come on the market. If there is no link between the advertisement and the original listing there could be a serious disconnect," de Jager said.

He also said local multiple listing services (MLS) that offer public access are among the best places to search on line because they use standard formatting and strict guidelines about adding and removing listings in a timely manner.

• Screen home movies. Most MLS systems, however, can't hold a candle to professionally produced virtual staging jobs completed with interactive video tours.

"If a picture is worth a thousand words, a video is worth a million," de Jager says.

Videos can give a much better sense of the proportions and the feel of a property. They can also play the starring role -- as a sort of 24-hour open house -- on a Web site or blog dedicated to the listing.

"A good video can often be as good as an open house visit," de Jager said.

And, if you buy a home with its own Web site, you can ask the seller to gift the Web site or blog to you!

"Videos have really taken off with the big brokers and high-end niche brokers. When you can find them they are valuable," de Jager added.

• What is DotHomes.com?

© 2008 DeadlineNews.Com

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Broderick Perkins, an award-winning consumer journalist of 30 years, is publisher and executive editor of San Jose, CA-based DeadlineNews.Com, a real estate news and consulting service, and the new Deadline Newsroom, DeadlineNews.Com's new backshop. In both cases, it's where all the news really hits home.

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Is There Room For DotHomes?

Already a two-time top award-winner, a new, British-made home listing search engine for The States has been dubbed "The Google Of Property."

by Broderick Perkins
© 2008 DeadlineNews.Com

Deadline Newsroom - Is there room for yet another real estate listings Web site?

You bet, if it's packing a search engine as powerful as Google's.

That's what Douglas de Jager was counting on when he launched an American-version of DotHomes .

DotHomes uses super-powered search algorithms to pump out listings of homes as fast as you can type in a ZIP code.

And the real estate industry won't have to lift a finger or pay a dime to add listings.

Instead of relying upon brokers, agents and multiple listing services to supply listings, often for a fee, DotHomes has its own search machine to reach out and grab listings from wherever they appear online.

Just type in a city, ZIP code, street name, price range or other search terms and the listings, as well as rental units, pop up in an instant. The search is amazingly fast. You can narrow your search by the number of bedrooms, baths, how long the home has been for sale and other factors.

Each listing comes with a photo, a brief description, a Google locator map and a link directly to the original listing on the real estate agent's or broker's Web site.

The site has been dubbed "The Google Of Property" because it appears to be the property of Google.

It isn't, but there actually is a nod to Google in DotHomes' "I'm Feeling Wealthy" button. Click it and you get the most expensive listing in a city or neighborhood.

London-based BytePlay launched DotHomes in the U.S. after successes with other DotHomes sites in Great Britain and South Africa.

With approximately 1.5 million U.S. listings, DotHomes competes with Web sites like Zillow.com, Trulia.com and other alternatives to Realtor.com.

So how will DotHomes pay the dotbills?

De Jager hopes to persuade the real estate industry -- recently suffering declining commissions -- to advertise with Dot-Homes. He says a new business model is just what the market needs.

Last summer Brit newspaper The Guardian said DotHomes was one of its Top 10 dotcoms to watch. Late last year, Esquire magazine gave DotHomes the nod as a Best New Idea at its Man at the Top Awards.

© 2008 DeadlineNews.Com

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Broderick Perkins, an award-winning consumer journalist of 30 years, is publisher and executive editor of San Jose, CA-based DeadlineNews.Com, a real estate news and consulting service, and the new Deadline Newsroom, DeadlineNews.Com's new backshop. In both cases, it's where all the news really hits home.

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