Realogy Brands post strongest result in Most Recognized Real Estate Brands survey for 2009

Recently, there was a survey conducted by RealSure asking agents to rank the top real estate brands in the world for the characteristics of brand identity. Approximately 390,000 votes were cast and it was very interesting to see the way they stacked up. We were delighted to see the strength of the Sotheby’s International Realty brand coming in at number 6, and as the ONLY luxury real estate brand that made the top 10.

Additionally, take a look at the strength of the Realogy brands where they have the number 2,4,6,8, and 10 spots. Very powerful organization, and very powerful referral sources. Here is the ranking:

  1. Keller Williams Realty
  2. Coldwell Banker Real Estate
  3. RE/MAX International
  4. Century 21 Real Estate
  5. Prudential Real Estate
  6. Sotheby’s International Realty
  7. EXIT Realty
  8. ERA Real Estate
  9. Weichert Real Estate Affiliates
  10. Better Homes & Gardens Real Estate

Here is the link to the article:

House Flipping Makes a Comeback

Source – Wall Street Journal By JAMES R. HAGERTY

SCOTTSDALE, Ariz. — Four years after the collapse of the U.S. housing bubble, flipping homes is back in fashion.

Jon Mirmelli, a Phoenix real-estate investor, learned late in the morning of Sept. 28 that a never-occupied custom house on the northern fringes of this Phoenix suburb was going up for auction around noon the same day. The six-bedroom home, built on a three-acre desert plot, has a kitchen with two dishwashers, four ovens, “antibacterial” copper sinks, and a master “spa” bathroom with space for a flat-screen TV visible from the tub.

The minimum bid, as set by a unit of Citigroup Inc., which had a $1.3 million mortgage on the home, was $379,900. After several minutes of bidding among investors and their representatives, some wearing shorts and flip-flops, Mr. Mirmelli won the home for $486,300. A week later, he agreed to sell it for $690,000 to a woman who moved in this month.

During the housing boom, millions of Americans tried to make money by buying and then quickly reselling new houses and condominiums. That kind of flipping stopped several years ago as home sales stalled amid a surge in foreclosures and curtailed lending.

Now, a different breed of flipper is proliferating: one who seeks bargains at foreclosure auctions. Unlike the boom-time flippers, the latest generation needs cold cash, lots of local-market knowledge and strong nerves.

Investors compete mostly with other full-time professionals who monitor foreclosure auctions at county courthouses across the country. The bidders often haven’t had a chance to inspect the property or determine whether it’s occupied by tenants, who may be hard to evict.

Sometimes “you have half an hour to make a half-million-dollar decision,” says Damon Lines, an executive at PostedProperties.com, a Phoenix firm that provides information to foreclosure investors and bids on their behalf. “That’s something most people can’t or aren’t willing to do.”

In the states where home prices have fallen the most, many local real-estate markets are dominated by foreclosed property, dragging down the value of neighboring homes. Barclays Capital estimates that banks and mortgage investors have 639,000 foreclosed homes for sale across the U.S., largely concentrated in Florida, California, Arizona and Nevada. That’s equivalent to more than 10% of expected U.S. home sales this year.

Lake George Auction TODAY!

Today is the day for Lake George vacation home buyers to secure an incredible piece of real estate on Pulver Road, off Pilot Knob Road. With nearly 2700 square feet of living space on just under an acre of land and with 168 feet of lake front, this really is the most compelling buying opportunity available on Lake George at this time. The home is a 1916 authentic lakehouse true to it’s original character, with mature trees on the property, two amazing views, and an incredible deep water Adirondack style boat house.

The subject property is up for auction at 2pm and will be sold to the highest bidder.

The real estate market in general has created an opportunity for new and innovative techniques, such an auction format, to move the market. While real estate auctions have been used for many years to liquidate distressed, condemmed and foreclosed properties, Select Sotheby’s International Realty has partnered with Concierge Auctions to deliver a very high touch, professional auction service designed to trade distinctive, luxury properties that are pristine in style and character. The focus on this service is to provide sellers who have recognized that the lengthy time on market that can often times couple a traditional listing for a high end home with an option to monetize the real property on a time schedule that the seller selects, rather than waiting for a buyer to come along.

The program has been very well received by all stakeholders, and the buying population has positively responded as well. This process has generated a significant amount of local and regional attention, and a significant amount of traffic at the property in a short window of time.

The results will be available within a couple of weeks. The auction will be at 2pm today. Last minute participates can still register. Call John Burke at 518-928-2233.

For more information, please visit: LakeGeorgeAuction.com

Wealthy Investors Plan to Buy More Real Estate, Barclays Says

Source: Bloomberg
By Peter Woodifield

Nov. 30 (Bloomberg) — Individuals with more than $800,000 to invest plan to increase their property holdings because they foresee better long-term returns than from stocks and bonds, according to a Barclays Plc global survey.
Twice as many people plan to raise their investment in commercial and residential property as intend to reduce it, the Barclays Wealth unit said in an e-mailed statement today. The richer the individual, the greater the proportion of wealth is placed in real estate, the survey found.
“I was surprised how big a share of their wealth property represents,” Mike Dicks, the London-based head of research at Barclays Wealth, said in an interview. “It’s not what I would tell grandma. None of our data suggests that would be a good allocation.”
The global recession pushed down commercial and residential real estate prices in every region except Asia. The value of U.S. shops, offices and warehouses fell 21 percent in the first three quarters of this year, following a 12 percent decline in 2008. Belief that properties are now undervalued was the second most common reason cited for increasing investment.
Real estate investment among wealthy individuals is set to rise to 30 percent of the average portfolio for the next few years from 28 percent now, according to the survey. That excludes properties used as a principal residence. Most rich people, other than the extremely wealthy, should have no more than 10 percent of their assets in property, said Dicks.
‘Emotional Attachment’
“An emotional attachment to bricks and mortar,” can mean that rich investors are often unwilling to sell real estate at short notice and may be less rigorous in measuring its performance as an asset, according to the report.
Investors from Canada and the Persian Gulf were the most likely to increase their property allocations, with an average rise of 4 percent, the report said. Spain was the only country in the survey where more individuals said they would reduce the proportion of real estate investment, said the wealth management division of London-based Barclays. About 60 percent of rich individuals in that country have more than half their assets in property.
Almost 30 percent of British and Indian investors have more than half their wealth tied up in real estate. About 40 percent of the total respondents worth more than 30 million pounds ($49 million) have a similar allocation, Barclays Wealth said.
U.S. Attractive
Three out of four investors surveyed said residential property is looking attractive and two-thirds are keen to explore investing in commercial real estate, the survey said. About 75 percent said they feel hampered by borrowing costs.
The U.S. was the most attractive real estate market for investors outside their home country, the survey showed. The country was seen as having the highest potential for return on investment.
Barclays Wealth surveyed 2,000 people. Forty percent were worth 500,000 pounds to 1 million pounds. An additional 40 percent were worth between 1 million pounds and 10 million pounds. Ten percent had assets of as much as 30 million pounds and the rest were wealthier than that.