In this week’s Real Estate Sales and Technology news, we look at Housing Market Predictions for 2015 and Beyond, the 4 Healthiest Real Estate Markets, the Luxury Real Estate Fire, and the Latest Statistics for Facebook Ads for Real Estate Agents.
Expert Economists Surprise Summit with Housing Market Predictions through 2019
At a panel at the Bipartisan Policy Center 2014 Housing Summit, four expert economists gave projections for the housing market over the next five years. While the majority in attendance believed that housing was not “on firm footing.” All four economists had a more positive outlook through 2015 and onward towards 2019. Jonathan Smoke, chief economist at Realtor.com believes we are firmly in recovery mode. As quoted by HousingWire, “All of our data points suggest a better second half of every year. Home-price appreciation is much healthier.”
Mike Fratantoni, economist for the Mortgage Bankers Association, pointed to macroeconomic conditions improving across the board. “I think we are on the edge where we’ll see meaningful wage growth for families,” Fratantoni said. Fratantoni added that the trend of rising rents will drive homeownership. “One benefit of owning a home is no one can raise rent on you,” he added.
Panel members included members representing Realtor.com, Mortgage Bankers Assoication, Standard & Poor & the USC Sol Price School of Public Policy. Read more at HousingWire.
The 4 Healthiest Real Estate Markets In The United States
The U.S. housing market as a whole has improved dramatically over the past several years. Some areas have over performed compared to others. The results can be surprising. Zillow rates the health of a housing market from zero to 10. This rating includes home value increases and decreases and the average number of days homes remain on the market
Out of the 100 largest metropolitan areas in the U.S., these five areas all score higher than 9 out of 10 in terms of market health, and for a variety of different reasons. Strangely enough #2-5 are all located in California for the healthiest markets. But what is even more surprising is the #1 healthiest housing area in the US. To read more, check out Beverly Hills based Luxury Real Estate Broker Christophe Choo’s blog here.
The Luxury Real Estate Market is on Fire
CEO of Christie’s International Real Estate, Bonnie Stone Sellers discussed it’s annual 2014 Luxury Defined: Whitepaper recently on Fox News. This report that presents an in-depth analysis of trends shaping the luxury real estate market globally. Supporting the economists view of a healthy housing recovery, Stone Sellers states that the Luxury Real Estate Residential field is on fire all around the world due to so much pent up demand from previous years.
Sales volumes are up a staggering 20%. Mostly urban area but resorts will be catching up soon as Maui just experienced a 49% increase. The surge of sales is due to three growth sectors. Formerly, foreign buyers used to be the driving force, however this year it is local buyers that are fueling sales and have come back in full force especially in urban areas. Another interesting sector that has begun to fuel the fire are the Millennials. Millennials are receiving money from their baby boomer parents for the first time or have done well in the tech sector. They are finally wanting the home buying experience.
Check out the latest Inman News video below from Luxury Connect that is supporting the Christie’s International view that the Luxury Real Estate market is back! They take an in depth look at the current market for high end developments. There is a fascinating discussion on the contrasting areas, like LA vs. Vancouver, and how preselling before breaking ground is used as a selling tactic depending on the area the development is located.
Facebook Ads for Real Estate Agents – The Latest Statistics
Digital Advisor & Industry leader, Jay Baer of Convince & Convert fame just published an article on 15 New Facebook Advertising Statistics. He breaks down Salesforce’s latest Social Advertising Benchmark Report where they do a deep dive into the actual results produced from more than 1 trillion paid advertising impressions on Facebook.
While Real Estate Agents may have personal Facebook Pages or even Business Pages, Facebook Advertising for Real Estate Professionals as a whole has been largely overlooked. Is it the cost or the lack of know-how? Here are some statistics that might help you reconsider this underutilized tool for lead generation.
In an average month, 1.28 billion users are active on Facebook . Globally, Facebook ads cost 21 cents per click in the fourth quarter of 2013 when purchased on a cost-per-click basis. Globally, Facebook ads cost 75 cents per thousand impressions in the fourth quarter of 2013 when purchased on a CPM (impressions) basis.
“As a 20-year veteran of digital marketing, it is wild to consider that we’re now at 75 CENTS per thousand ads, when it was 75 DOLLARS not all that long ago.” says Baer. To read more about mobile Facebook advertising statistics & more check out Convince and Convert. To download the full report, visit Salesforce.
Clearview’s Tuesday Tech Tip: KeyMe
This week’s Tech Tip is a fun one. This sounds like it’s straight out of a futuristic science fiction movie but trust me this is a real app. KeyMe’s smartphone app lets you scan digital copies of keys, so that you can obtain new ones without paying a locksmith to break your lock, or more easily manage or share them.
If you’ve scanned a key using KeyMe’s iPhone app, you can mail-order plastic, brass or gold keys and personalize their handles with special designs. Prices range from $10 for the most basic plastic key to $4,000 for a golden key. For real estate agents, the possibilities are endless. If a broker “closes a deal and wants to add a personal touch, we can 3-D print the key with their company’s logo.” says Inman News.