Thinking of becoming an Investor of Real Estate with the latest boom?

From a special report to the Florida Times Union:

FTU @Home Feature
Prudential Network Realty

WHAT YOU NEED TO KNOW BEFORE PURCHASING INVESTMENT PROPERTY
Experts at Prudential Network Realty Share Insight on Real Estate Investments

Investing in real estate has been a positive experience for many who took the plunge during the market downturn and purchased rental property.  It seems simple, right? Purchase a home and rent it out, charging more in rent than your monthly mortgage and making a profit. Sounds like an easy way to make some extra money, but for those that haven’t done their homework, real estate investments can quickly become a costly experience.

So, is investing right for you? There are many factors that tie into this answer. Do you have a plan? What do you need to know before you invest? The experts at Prudential Network Realty understand the importance of providing all the facts to their clients and walking alongside them, every step of the way to ensure a positive experience.

“Real estate investment can be a gamble and it’s essential that those thinking of investing seek advice from an expert,” said Prudential Network Realty Founder, President and CEO Linda H. Sherrer. “Our agents work with numerous investor groups, including hedge funds and venture capitalists, and are equipped to provide our clients with all the pertinent information needed in order to make an educated decision.”

We asked the experts at Prudential Network Realty to shed light on the top three questions asked by those contemplating this decision:

Q: How important is location in regard to A-rated schools, night life and area attractions?
A: “Location is very important as it determines the type of renter you are targeting. The better the location, the higher the rent.  A one- or two- bedroom in an area with nightlife makes more sense as does a three- plus bedroom house in a good school district. If it’s your first time investing, it also makes sense to choose a neighborhood where you would be comfortable living.  This often results in the happiest and most successful investors.”
– Liz Bobeck and Josh Nugent

“It’s very important. If the home is situated around these items, rent prices tend to be higher.” – Al Kekec

“I have found that it really depends on the investor.  Some properties located near good schools rent a lot faster and have less vacancy. Properties which offer a quick commute to downtown and great shopping and restaurant opportunities are a huge draw and also keep properties filled.” – Allison Steilberg

Q: Is choosing a newer home as opposed to an older home with “character” a better move? Does it matter?
A: “There are definitely perks to both. For rentals, we believe it makes more sense to purchase a low maintenance property.  On the flip side, there is a large demand in historic districts. Although maintenance costs may be greater, you may be able to command a higher rent and keep it rented longer.”
– Liz Bobeck and Josh Nugent

“As long as you are making your target returns every month, I don’t think that it really matters.”- Al Kekec

“There are benefits to both. Newer homes are projected to have very few maintenance issues which bolster the bottom line. Older homes with lots of character makes properties like this rent quickly.” – Allison Steilberg

Q: Factors to consider for long term plan – rental investment vs. a resale investment?
A: “Resale requires more capital but you receive the profits immediately. We recommend speaking with a licensed professional about your strategy and seeking advice on the best decision for you.” – Liz Bobeck and Josh Nugent

“There are many factors to consider for both avenues. Reselling the property would make for less repairs and a good location would allow for continuous rental of the property. Either way, I would recommend meeting with an expert before making a decision.”  - Al Kekec

“The holding time can be different from one investor to another. If the investor is looking for a quick turnaround and profit, I would recommend flipping the home. If the investor’s goal is cash flow and potential for long term appreciation, then rental would be the way to go.” – Allison Steilberg


  “We encourage those who are contemplating purchasing real estate as an investment to contact one of our agents to receive information tailored to their personal situation,” said Christy Budnick, executive vice president of residential real estate, Prudential Network Realty. “There are many factors to consider and each investor’s needs are unique.”

Invest in Prudential Network Realty

To find out more on investing in real estate, connect with the professionals for expert assistance in Northeast Florida by calling one of the seven offices which are located in San Marco/San Jose, Mandarin, Ponte Vedra/Beaches, Arlington/Hidden Hills, Avondale/Ortega, Fleming Island or St. Augustine, or by visiting www.PrudentialNetworkRealty.com or on Facebook at www.facebook.com/PrudentialNetworkRealty.

Some important things to do and do not do when selling a house....

Selling a home in the recession-hit times of today is tough no matter if you enlist a Realtor or you do it yourself. The nuances of home selling are many and they all need to be heeded if you want your home to sell quicker and at a good price. But many home owners end up making mistakes that cost them heavily in the deal.

I  throw some light on some common mistakes that you should avoid:

1) Inappropriate Pricing
Bad prices are great deterrents to fast home-selling. They include both – too high and too low prices. It is important to remember that real estate prices fluctuate like tides and need to be kept track of if you are going to put your home up for sale. If you market your home on too high a price, it will ward off clients, whereas a price too low will rob you of the profits you very much deserve. A Realtor has the best data to provide real comparables in the market, no "estimates" with a Realtor.

2) Wrong or Incomplete Marketing
Good marketing is essential for selling a house effectively. Thinking that selling a house is local business is a big mistake that home-owners make. Make your house on sale visible to as many people as possible. Use the Internet and its valuable resources like social media to market your house to a global audience; you never know who is moving to your city from around the world.

For doing the same, use pictures, as many of them as possible because a humble little picture is worth a thousand words. Click high resolution photos of your house at its visual best. If you get a lot of natural light in the house, it is best to click day time photos on sunny days, otherwise use appropriate artificial lighting to get the best results.

A disastrous mistake to avoid is shooting photos of an untidy residence. Therefore, it is strongly advised that you de-clutter your house before you begin your home selling marketing campaign.

3) Homes in an untidy or ill-maintained condition
Unkempt homes give a negative vibe that may lower the chances of a prospective buyer finalizing a deal with you. Append sufficient efforts and money on getting things fixed in the house. Leave no walls with paint peeling off them. Do your home maintenance assignment right if you want to influence clients to like your home better.

4) Not treating the buyers right
The happier a buyer feels on visiting your house, higher are their chances of fixing a deal with you. So always treat any prospective buyer with utmost respect and hospitality. Give them a warm reception and offer water or a morsel. Most importantly, don’t stick to the visitors while they see your house. This makes them tad uncomfortable. Just give them some time to view the house on their own.

Home selling is serious business and demands a great deal of patience from you. It is important to stay calm even if you have had your home in the market for pretty long because this is just the plight every home seller has to go through, and it eventually passes!

#LizBobeck

Shopping at a Dollar Store is really fun. Over years I have observed that certain goods are definitely cheaper at dollar stores. So I created a dollar store game plan to cash in on low prices. I often wondered how they kept their prices so low. Later I discovered that dollar stores, whether mom-and-pop shops or local franchises of a national chain, get some inventory from product lines created just for discount stores. The rest come as remnants from wholesalers, which explains why I see such a wide variety every week.

However, I am suspicious about the quality of food and kitchenware sold at these stores. So as a policy I never purchase edible stuff or anything that has to do with cooking from them. Barring that I've found tons of useful goodies at rock bottom prices. Here are my top ten dollar store buys:

1. Stationery & Office Supplies

Whenever I need pens, notebooks, pads, post it notes and likes I get it from a dollar store. It's way cheap. However sometimes for bulk purchases of the same I've seen that Costco wins. So if you have a couple of kids and you're planning to get a year's worth of supplies, it might pay to check prices at Costco or BJ's.

2. Cleaning Supplies

Usually dollar stores carry cleaning supplies created by private brands. Don't expect any recognized brand names. If you get one that's a bonus! Most of our cleaning jobs deal with removing grease and minor carpet stains. So far dollar stores' supplies have done the job pretty well.

3. Gift Wraps, Calendars and Cards

Supermarkets burn deep holes in our pockets when I buy gift wraps, cards and calendars from them. On the other hand dollar stores have saved us a lot of money during the holidays and other festivities when I needed gift wraps and cards at galore. Now a days most dollar stores carry good collections of wraps, ribbons, cards, calendars, placemats and other trivia that make our gifts look as attractive but only at a fraction of a supermarket's prices.

4. Babies' Goodies

Experience has shown that stuff like babies' shampoo, blankets, soaps, talc, body oil, and many more useful items rock at a dollar store. It's more expensive to buy the same at supermarkets or online sites. At certain times of the year I have noticed that goods from recognized brands like Johnson & Johnson also adorn the shelves for babies' products at dollar stores.

5. Candles

I love candles. And dollar stores provide some great deals on candles during pre and post Thanksgiving as well as Christmas. My norm is to stock up. I also like the beautiful glass candle holders available at different times of the year. Candles (preferably scented ones) and holders make good gifts too.

6. Batteries

At first Jack and I were not sure whether we should use batteries from dollar stores for our expensive gadgets. Since they are very cheap, chances are high that they are fake. But instead of giving up, we experimented by using them in inexpensive gadgets. We found that they worked equally well as those from a supermarket or warehouse. It's been a couple of years that we've been using batteries from dollar stores in most of our gadgets and they have given us no reason to complain. So far so good!

7. Photo Frames & Decorative Gear

I feel dollar stores are the place to buy decorative gear for holidays and festivities. During holidays I have found good quality photo frames too. Keep an eye for photo frames and other decorative gear at your local dollar store. At particular (read seasonal) times dollar stores offer good deals on photo frames and albums.

8. Bathroom Supplies

Big dollar stores usually beat supermarket chains like KMart or Target on products like bathroom mats, shower curtains and caddies, place holders for smaller items and many more. I distinctly remember having purchased a shower caddy from Bed Bath and Beyond for $9.99 only to find the same product being sold at a Ninety Nine Cents store for $0.99! This gives us an idea about price markups at most upscale chains.

9. Tools & Handyman Stuff

Whenever Jack needs some tool or screws or replacement kits for the usual maintenance of our assets, he checks the nearest dollar store before heading for a Home Depot or Lowe's. Time and again he's seen that a dollar store won!

10. Garden Supplies

Since gardening is a popular hobby, large dollar stores carry a lot of supplies like gardening gloves, tools, decorations, seeds, pots and plants at a fraction of the cost for the same at supermarkets. But their collection is not as exhaustive as the ones available at Lowe's or Home Depot. So depending on your needs it might be a good idea to check out a dollar store before heading for a specialty store.

It's true that most items at a dollar store are priced at one dollar, but even at that price it offers great bargains. And perhaps it's the $1 price tag that attracts nearly three-quarters of Americans (according to market research firm Retail Forward) to make regular trips to so-called dollar discount stores. I love them :). Long live dollar stores!

Nocatee on national best-selling list | StAugustine.com

Nocatee flexing some muscles with home sales!

Nocatee on national best-selling list | StAugustine.com

#lizbobeck

National Statistics Report on Housing

Sales of existing homes rose in July to their highest level in three years, with year-over-year prices again showing double-digit increases.

The number of sales was 6.5% above June and 17.2% above the level in July 2012. If sales continue at the same pace, that would equal 5.39 million homes sold annually, according to figures from the National Association of Realtors.

Rising interest rates as well as rising prices are expected to tamp down both prices and the number of sales in coming months, as homes get less affordable. The shortage of homes for sale, particularly for first-time buyers, continues in many communities, too.

"Mortgage interest rates are at the highest level in two years, pushing some buyers off the sidelines," Lawrence Yun, the NAR’s chief economist, said in a news release. "The initial rise in interest rates provided strong incentive for closing deals. However, further rate increases will diminish the pool of eligible buyers."

The national median home price, including single-family and condos, was $213,500. That’s 13.7%  above the national median price a year ago and only 7.3% below the peak of $230,400 in July 2006.
The number of homes for sale increased 5.6% from June, to 2.28 million, which is a 5.1-month supply at the current rate of sales. The number of homes for sale is 5% less than a year ago.

Distressed homes continued to make up a smaller percentage of sales, one of the factors that is driving up median prices, since foreclosures and short sales sell at a discount. In July, distressed homes were 15% of sales, down from 24% a year ago.

First-time buyers continued to play a smaller role in the market than they do in normal times, accounting for only 29% of sales, down from 34% a year ago. Investors made 16% of purchases, down from a peak of 22% in February.

All-cash sales continued to be a strong factor, making up 31% of the deals, up from 27% a year ago.

Looking at the numbers by region:
Northeast: Sales up 20.3% from July 2012, median price up 6.7%.
Midwest: Sales up 20.8% from July 2012, median price up 9.5%.
South: Sales up 16.6% from July 2012, median price up 13.6%.
West: Sales up 13.2% from July 2012,  median price up 19.2%.

Liz Bobeck on Home Connect TV

This is Liz on Home Connect TV talking about Historic Neighborhoods such as Riverside Avondale and Springfield.

Liz Bobeck and Home Connect TV

Enjoy!

#LizBobeck

Great Realtor video with the voice of Paul Harvey

Its not often you can find a great video that can show others what you do, but I think this video does just that, and I know I enjoyed it. This is so true about Realtors.

Paul Harvey Realtor Video

Have a safe and happy week!

#LizBobeck

New FHA Policy for buyers.

This is great information for those who have been victims of the real estate crisis.

Shortsale? Foreclosure? Bankruptcy? You may NOT have to wait 3 years or more to buy your next home under the new HUD “Back to Work” initiative announced August 15th. If you qualify for the program, you may already be able to purchase a home as an owner/occupant with an FHA loan.

Eligible borrowers would be those who experienced a “significant loss of income due to circumstances beyond the borrower’s control” which in turn triggered an “economic event” that impacted their financial status.

 An “economic event” is defined as one of the following:

Short sale
Deed-in-lieu of foreclosure
Foreclosure
Chapter 7 bankruptcy
Chapter 13 bankruptcy
Loan modification
Forbearance agreement

 “A significant loss of household income due to circumstances beyond the borrower’s control” is defined as a loss of 20 percent or more of the total combined household income of the borrowers. Job loss, death of one of the principal borrowers, medical emergency, etc. could qualify as a circumstance beyond the borrower’s control. That loss of income must have been sustained for a period of no less than six months and have occurred prior to the one of the economic events as defined above.

In other words, the borrower cannot just have walked away from the previous home or declared bankruptcy just because they were upside down in a home and it seemed financially “smart” to do so.  The borrower had to have suffered a catastrophic event not of their own making which resulted in a large enough loss of income that made it impossible for them to meet their financial obligations.

To be eligible for the Back to Work Program, the borrower will have to:

• document the extenuating circumstances that led to the previous loss of income
• demonstrate that they have now recovered fiscally and have the financial resources to make their mortgage payments (credit scores, down payment, income)
• complete housing credit counseling by an approved HUD agency
• re-establish a 12 month history of perfect payment history on major accounts after the “economic event”
• be an owner/occupant

Want to find out if you qualify for a mortgage under the Back to Work program? Call me at 904-210-6399 or email me at bobeck.liz@gmail.com, and we will put you in touch with a mortgage lender that can answer your questions and help you through the process. Home ownership may be closer than you think!

Stock the Tool Shed party ideas

OK, so I bought a house, but it is my first house, what do I need to survive?

It’s Homeowner 101 really, you’ve got to have the tools to get the job (or jobs!) around the house done. But, if you’re not a jack-of-all-trades and you don’t want to ask “handy Uncle Bill” to help out with all of your little home improvements or fixer-upper tasks, what tools are “must haves” for all the little things you may need to do around the house?

Here are 10 essential tools (and a few extras, too) that no homeowner should do without:
1. Screwdrivers – and lots of them! From putting together children’s toys to putting on the kitchen hardware or adding that dimmer switch for perfect lighting, if you don’t have a good set of screwdrivers, you’re sure to have a few loose screws!

2. Hammer – If you’re planning to hang anything on the walls of your new home or you would like to tighten up those loose boards on the deck of the fixer-upper you just bought, you’ll need to keep a hammer and, possibly even a rubber mallet, close by.

3. Tape Measure – Eye-balling the middle of the wall may seem like a great idea, but when you’re hanging family photos, you want to make sure Grandma is center stage! In addition to your tape measure, you may want to carry a roll of carpenter’s tape to accurately mark what you measure!

4. Level – Speaking of eye-balling it, once you have Grandma centered, make sure she’s not crooked by enlisting the help of an inexpensive level. Even the slightest miscalculation can make things look awry.

5. Pliers: If you’re working with metal or need to grab a tiny strand of electrical wire, a good set of needle-nose pliers will be your best friend. Adding a pair of combination and slip joint pliers should help you complete any at-home task.

6. Wrench: Not to throw a wrench in the works, but you’ll be glad you have a socket wrench, and even an allen wrench, on hand to tighten or loosen nuts on projects that range from assembling furniture to fixing the kitchen sink.

7. Power Drill/Driver: Sure, you can try to hand-turn the screws on every project around the house, but after one project (OK, two at most), your hands may be begging you to invest in a good drill. Save those hands for all the other tools that require a little extra effort.

8. Knife – maybe a few. Utility knives are great for nearly every project, like opening over-taped boxes, scraping long-dried paint or cutting extra strings. You may also find that a drywall knife and putty knife come in handy, too.

9. Stud Finder – Ladies, you may think this tool was your keen ability to find Mr. Right (or Wrong) when you were in college, but what a good stud finder can do is accurately locate the studs behind your walls. You know, so your photos and wall art stay put.

10. Marking Pencil – How can you say “no” to an essential tool that costs so little and saves so much? Instead of marking up your expert paint job with a pen, carry a good marking pencil or piece of chalk to mark what you measure or what is level or… anything else you want to remember! Using a pencil won’t permanently mark up your beautiful new home, but it will make sure your furniture, photos or shelves are perfectly-placed!

What’s even better about these 10+ tools that can help a homeowner complete every project? They are 10 essential tools that won’t break a homeowner’s bank! Great starter gifts for a “Stock the Garage” closet, my husband still has some of his original tools from his party back in 1995. How much is your house worth? Call me to find out!

#LizBobeck

When you buy your luxury home, make sure you have an inspection

Buying a Luxury home does not mean all is perfect on the inside....

Just because you're purchasing a luxury home doesn't mean you should neglect a professional home inspection. Quite the opposite in fact; you should have a professional inspection performed on all aspects of your luxury home. This is a large purchase and knowing all you can about the property before signing on the dotted line means you are prepared for replacements or issues in the future or can negotiate repairs and replacements now.

Inspections for new construction or existing homes are a little bit different. New construction homes can have serious construction defects especially those on a custom home rather than tract homes. Builders, workers and developers become familiar with the floor plans, wiring and plumbing when they construct numerous similar homes at a time. Custom homes are quite different and can have defects that of been simply overlooked due to the lack of familiarity. Attention to detail needs to be at the top of the priority list so finding an inspector that deals with custom luxury homes is a must-have. There is immense complexity with the construction of today’s custom luxury home and the margin of error can be incalculable. Misunderstanding can affect the design and construction of the home especially if the home is several thousand square feet.

Something to consider especially in building a new custom luxury home is several inspections throughout the home building process. Codes, building permits, and construction all need to be taken serious when building a custom home. But what if the home it has already been constructed? If you're buying a resale luxury home you may find deferred maintenance. Even though the majority of materials and features can be high-end in a luxury home, previous homeowners may feel it unnecessary for maintenance or upkeep. Heating and cooling system filters may never have been serviced and water heaters can be leaking in rooms that homeowners never enter. 

Just because a home carries a high price tag doesn't always mean it’s in perfect condition.

Additional inspections can also be required when purchasing a luxury custom home. If the inspector suggests an additional inspection either on septic, sewer, roofing, electrical, past or plumbing, I highly recommend spending the extra few dollars to have a professional inspection performed. This can save you thousands of dollars in the future.

Your home is your investment and being as informed as possible on the construction and quality of craftsmanship is essential for lifelong enjoyment of your home. I have a luxury property available in Queens Harbour, here in Jacksonville. What is your home worth in this market? Call me to find out.

#LizBobeck

Communicate more effectively!

Connecting with Boomers, X-ers, and Millenials

That is a great artistration on how to communicate with different age groups, but understanding their level of electronics as well as how time has changed in communication. Great tool for all salespeople.

#LizBobeck

Millenials would rather text.....

I was on a conference call with folks from +Realtor.com and +Inman News and the news of the day was a study that discussed leads and how to capture, process and sell more from leads. I know, boring stuff, except for the fact that +Max Pigman did a great job of captivating the audience with information on a recent PAA study regarding how people are using technology in real estate.

The study was done to show that basically Realtors who get leads, often times do a poor job of following up on them. In fact, 65% of responders in the study who contacted a Realtor, wanted them to respond within 30 minutes or less. Often though this does not happen and the Realtor will end up contacting the prospect in 24 hours or more. A huge void, but an opportunity for others.

The other interesting information I learned was that most of the millennials want to text with their Realtor. +Max Pigman had a case in point that stated his daughter, a millennial had a phone bill of about 30 minutes by voice, but her text bill was in the hundreds of dollars. He stated that 29% of the first time home buyers would rather text with the agent, than speak on the phone.

The data suggests that the 80% of home buyers by 2015, millenials and generation X folks will be demanding more communication from their agents by smart phones and other online presence. If you are not working with your technology, you need to start now.

+Liz Bobeck

Easy living in Jacksonville

And now, for something fun as we send the kids back to school......

When you drive around Jacksonville, you’ll see that people are a little more relaxed, and their dress is a bit more casual than most. This laid-back culture and the warm and humid weather create a style that’s fun and breezy, never stiff or stuffy. When you’re ready to redecorate and paint your house in Florida, look to nature when you search for color schemes. Subtle natural colors will give your rooms an airy, relaxed look that visually cools the room and helps it to look inviting. If you want to create a room that says, “Come in and relax,” look to the softer shades of the natural world around you.

The Beach
The relaxing beach lifestyle is a standard in Jacksonville, so bringing that color palette into your room is a great way to show your relaxed attitude. Spend an hour at the beach really looking at the scenery, and you’ll notice that it’s not all solid blue sky and beige sand. Pick up a handful of sand and look at the different colors you see in the grains. All those different hues could fill a dozen paint chips, but they all go together. The water is a mixture of blue and green waves topped with white foam. Remember that nature doesn't create clashing color schemes, so choose any part of the scenery for your room design. Beach attire

The Sky
The Florida sky is brighter than in many other states, with clearer colors and not so much smog or muddiness. From the palest blue of the morning to a deep blue at noon, all the cooler shades are represented. You can paint your house from top to bottom in the shades of the sky and never repeat the same color once. Draw inspiration from the different times of day, or recreate the aspect of a stormy sky. Florida has plenty of clouds, ranging from fluffy white through the deepest gray of hurricane season. Pull from those colors to make one room cozy and relaxing. Jacksonville Skyline

The Garden
Nature is generous in the Jacksonville area, and gardens thrive most of the year. Greenery is in backyards, on the sides of roads, and even sprouting in beach sand near the shore. Bring a cool look to your home by painting the walls a variation on the bright greens you see every day. Extend the theme with accents of bright fuchsia or the vibrant hues of hibiscus flowers, and bring all the colors together with the brightest of whites. Cummer Museum Gardens

Hard to know what the truth is as a first time home buyer

If you are like me, you get bombarded with email. Most of the emails I receive, I signed up for somewhere along the lines, and could be/should be considered spam. Who reads an email that is more than 10-15 sentences, especially if from someone I have never heard from, and especially if they are trying to sell me something.

I was receiving emails this weekend and stumbled upon a story from The National Association of Realtors and their Realtors.com site. They were talking about how to communicate with Millenials. According to the report, 79% of the buyers under age 32 are first time home buyers. There is a lot to know about when buying a new house, lead paint, mortgage issues, inspection report. The information can lead to a lot of stress in your life, that you don't need.

Enter a Realtor to the picture, and not just any Realtor. First Time Homebuyers need someone who has a number of transactions closed, understands the do's and don'ts in a fast moving market. Market supply in Jacksonville, FL is down to 4.4 months worth, so odds are the house you are looking to buy today will be gone by the end of 2013.

A perfect first time home buyer would be this property, 3238 Dellwood Avenue, Murray Hill. A 3 bedroom, 1 bath home with all new systems and move-in ready.

Call me at (904) 210-6399 today to learn more about this first time home buyer property.

Lead Generation, how did I find you?

I know most would think it is a slow day when I am discussing Lead Generation on the Historic Home blog, but in reality, don't you want to know how I was able to contact you? You had a need, someone told me about you or you went online to the Internet and you posted X on Y site and I received Z lead. Hey, how'd they do that?

Well.....here is a great article to pull back the curtain and show you a bit about how Real Estate professionals generate leads:

Is one lead generation program better than the other? How do I get started? And what was our advice in general?  While various players tout different software programs or software-as-a-service (think online CRM tools), several experts seem to concur that a great website and managing one’s online presence is just as good if not better.

For a more traditional software approach, Chicago Agent Magazine is a great resource for tips, tools, and tricks from active practitioners. This article suggests a few lead generation tools, “The Best in Tech for Real Estate” dated July 2013 (scroll down to section “Best Lead Generation Software”). Other options to consider can be found at Texas A & M’s Real Estate Center’s Real Estate Software Directory. While the online tools mentioned in the above article don’t appear, you can find some software options under the section called “Contact Management“. Play around with some of the other categories to find software and tools for advertising, farming management, etc.

However, not everyone is on the software bandwagon:

Be your own AdWords manager. Learning the in and outs of paid search is a tough road, but a very rewarding one. Very similar to renting a home versus owning a home. One requires payment with not equity in the end, whereas the other requires payment, hard work, but equity in the end.

If you decide software isn’t the solution, here are some ideas on alternative methods for lead generation. It seems almost as if there is a consensus amongst the experts on using alternative methods (other than traditional software or pay-per-click tools). As per NAR’s 2012 Profile of Home Buyers and Sellers, 90% of home buyers use the Internet in their home search process, and 96% of buyers under the age of 44 use the Internet in the home search process, so buyers are definitely online. (Ha, we know where you live and what your searching on out there)...The articles below give a good lay-of-the-land and offer some good ideas as to how to connect with these buyers when they are online.

What does this mean Liz? It means that if you type in +Avondale, +Riverside, +Ortega, +San Marco, +Jacksonville, along with +Home or +Realtor, odds are I or one of my counterparts are going to be contacting you to discuss your +Real Estate needs. +Google is out collecting your data and every place you search, and some of the technology out there will also convert voice mails to text and allow for data search on this data. This means you can get an answer in minutes or hours as compared to what it used to be in days or weeks. But, hey, we want it now anyway! Call me to learn about the value of your house.

Liz

First Time Homebuyers, have you thought about what life will be like owning instead of renting?

From a Real Estate Colleague in Canada....good check for first time home buyers.

Is that house really affordable? A reality check for first-time buyers 

A year in the life of Canadian households:

Spending on water and sewer bills up 2.7 per cent.

Spending on natural gas for home heating up 3.9 per cent.

Spending on electricity up 4.8 per cent.

Spending on cellphone services up 10.7 per cent.

First-time homebuyers, study these numbers because they’re your future. When you own a home, your costs move ever higher over the years. That’s why you have to consider not only affordability today, but also in the year ahead.

When you buy a first home, you know the cost of your mortgage and property taxes before you move in. But the broader range of costs is unknown by most buyers, and so is the likely rate of increase on these costs from year to year. Look at how these costs might increase from year to year.

One way to estimate how much more you’ll spend is to look at the inflation rate, which was most recently pegged at 1.2 per cent on a year-over-year basis. Another is to look at how much more actual people are paying to run their homes and live their lives. A source of this data is Statistics Canada’s survey of household spending, which looks at expenditures both major (food and home maintenance) and minor (pet food and spending on movies). The freshest numbers were issued earlier this year and they cover 2010 and 2011.

To set the stage, average hourly wage increases have been running at about 2 per cent lately on a year-over-year basis. You’re ahead of the official inflation rate at that level, but what about the specific costs of owning a home?

Total household expenditures were up 3.1 per cent in 2011, but spending didn’t rise in all areas. For example, households spent 1.8 per cent less on food purchased at grocery stores, 2.7 per cent less on clothing and 2.2 per cent less on household cleaning supplies. In any given year, you will get some spending breaks as a homeowner.

More often, costs will rise from year to year. In 2011, Canadian households paid more for most utilities, notably cellphone service and Internet. Spending on property taxes rose 2.7 per cent, while home maintenance and repair spending jumped almost 7 per cent and home insurance spending rose 5 per cent.

The survey of household spending represents the experience of just one year compared with another, but as a long-time homeowner I can tell you it’s on the money. So don’t hesitate to use the 3-per-cent overall increase in total household spending from 2010 to 2011 as a guide on what to expect from here on. Note: Financial planners often use 3 per cent as a long-term estimate of inflation. No savvy planner would use the latest 1.2 per cent rate because it reflects the unusual financial conditions of the past few years.

The most unpredictable factor in household spending is unfortunately the most important – mortgage costs. Check out what’s happened as a result of the half-a-percentage-point increase in five-year fixed mortgage rates earlier this summer. On a house with a mortgage balance of $350,000, the rise in rates would have bumped up the cost of monthly payments by 5.5 per cent, if you assume a 5-per-cent down payment and a rise in mortgage rates to 3.39 per cent from 2.89 per cent.

The average posted five-year mortgage rate over the past decade was about 6 per cent. You can cut that down to 4.25 to 4.5 per cent to factor in today’s rate discounting trends, but you’re still looking at a major cost increase over today’s rates. On that $350,000 mortgage, the jump from 3.39 to 4.25 per cent would increase payments by 9.4 per cent.

Recent trends in pay increases suggest you shouldn't count on big pay increases to soak up the cost of higher mortgage rates and household costs down the road. This makes it imperative to buy less house than you can afford now, ideally much less. Cut yourself some slack.

What does this mean Liz? If you are a first time home buyer, congratulations, you want to start putting money into an asset that will grow as you grow. However, not everyone is ready to make the switch. Think about the costs you have as an owner, versus renter. Now you are responsible for the hot water heater or the roof repair, or any other tasks, and you have to build a budget for these things. You essentially raised your responsibility level 1000%, and now you want to know, where do I start? Your Realtor will have a list of people who can help, contractors, professionals, all sorts of people who can help you work through the lists of issues, and allow you to sleep better at night. Call me to learn more about how I can help you as a first time home buyer.

Liz

Some national news on the housing recovery......

And now some national data on the ever continuing housing recovery.....

Despite all odds against the housing recovery, the market(s) are steadily improving and housing experts do not expect the sector to lose its momentum any time soon.

Regardless of an inadequately housing supply, rising home prices reacting to strong demand and difficult lending environment, market expectations remain bullish on housing.

Nonetheless, housing is in its early stages of recovery and panelists at the Bipartisan Policy Center’s conference believe it’s not time for the Federal Reserve to take their foot off the bond-buying gas pedal just yet.

"There is a cyclical and structural nature to the problem," explained Paul Weech of Housing Partnership Network.

He added, "We haven’t solved for the underlying structural problem and if we revert back to the norm, we still have millions of homes trying to get back in the full market recovery."

One of the major factors still impacting the housing market is underwriting standards.

Fannie Mae senior vice president and chief economist Doug Duncan pointed out that there is a high correlation between the business cycle and the credit cycle, which will ultimately lead to an established fixed floor of the credit box.

"If in the regulatory process we can establish a fixed floor then we’ll change fundamentally the level of housing," Duncan explained.

Looking to the future state of housing, experts agreed that immigration will play a significant role in the housing recovery.

Data taken from 2012 and estimated through 2050 shows that the economy will have 15 million less workers if the immigration rate continues, meaning less people in the housing market and less people paying into their entitlements, Duncan noted.

Another group of Americans that will affect the future of housing is the baby boomer generation, which is the fastest growing age group.

Many have a desire to remain in a home, but want to be mobile. As a result, homebuilders are trying to find new ways to accommodate these needs as well as attract first-time homebuyers to market.

Conine Residential Group president Kent Conine explained that homebuilders are introducing new innovations and productions into the marketplace.

For instance, Conine is in the process of developing a system in which seniors sell their current homes and downgrade to plain vanilla property, which will allow them to travel, while still maintaining a home.

On the reverse side, many homebuilders are going back into the inner cities to tear renovate properties in the hopes of enticing first-time homebuyers into the market.

"While it’s far from where it needs to be, housing is improving," stated Realogy Holdings Corp. chairman and chief executive officer Richard Smith.

He concluded, "If given a little nudge from regulators and Congress to put in some definitive rules, housing has only one way to go, up."

What does this mean Liz? Well, we need the Federal Reserve bank to continue to purchase bonds in the bond market, this puts more money into the economy, and allows the banks to make loans. Mortgage people can better describe the process, of which I am not, but we also need to look at the markets that went up first, like Arizona and California, to get an idea of their health. If either start to look sick, you will want to get off the fence and get your house either sold or buy what you need.

Liz

Help support your friends and they will respond in kind

I was in attendance last night at the local restaurant +Harpoon Louie's  It is a nice place for getting together after work or during work, but most important to me, last night, we were there to support my friend +heather johnson in her work effort. She works for a company called +Earthguy and the owner was there as well, dressed as.....Earthguy. The work like Groupon, but they are local to +Jacksonville, FL and their deals are targeted toward the local folks here.

So we were at Harpoon's for trivia night and we ended up taking home 2nd place. The key to remember for trivia night is to have a large enough group of people to help answer all the "trivia" that you don't know. So we had friends of mine who were also Realtors in the area, but friends first. We also had my husband, +Jack Bobeck, a builder +Speir Bryant as well as a few other folks in attendance, but we were all there to support Heather Johnson and her business.

I've been to many trivia nights, but it is more fun when you are there to help support a friend. She is one of my best friends, she has had a hard life, but she now has a great job, something she loves and a great group of people around her to help support her. I know she is in a great place because I see more confidence in her. She walks around the neighborhood and she talks with confidence as well. Strong people in your life are hard to ignore, and I know she is headed to bigger and better things.

If I were to call on her, I know she would come calling in a second, she would be there to listen to me and my needs as well. I have my husband, +Jack Bobeck , but most importantly is to have friends who you can call and chat about "the weather" as we call it. In Real Estate, they say we should build a network of 12 people as part of our referral base, to me, this means 12 friends, as a friend is more important to me than a referral base.

What is stopping you from building your referral base? Start today!

Liz

Home prices rise again, but at a slower pace

Home prices rose in June for the 16th consecutive month nationwide but at a slower pace than in recent months. Market researcher CoreLogic says June 2013 home sales prices were up 11.9% year-over-year and up 1.9% from May.

But that's a slower month-to-month rise than 2.6% in May from April and the almost 2.8% increase in April from March, revised figures show. Jacksonville prices have been rising almost 15% month over month so far in 2013.

CoreLogic senior economist Molly Boesel says the differences are probably seasonal, as price gains frequently pick up in the spring selling season. The 1.9% month-to-month increase "is still a good month," Boesel says.

Other data point to slowing increases, which many economists have predicted given the strong price appreciation of the past year. When adjusted for seasonal factors, asking prices for homes in July dropped 0.3%, marking the first month-over-month decline since November 2012, shows new data from real estate website Trulia.

Asking prices rose 3.3% in the three months ended in July, compared with a 4.2% jump in the prior three months, Trulia says. The slowdown in asking prices in July could be the "start of the return to normal price gains," says Jed Kolko, Trulia economist.

In the first six months of this year, home prices in the U.S. appreciated 10%, CoreLogic says. That's the fastest pace since 1977. Kolko says rising mortgage interest rates, expanding inventory and declining investor interest in home purchases are contributing to a slowdown in price gains.

The latest Freddie Mac data show the average rate on a 30-year fixed-rate loan at 4.39%, up from 3.55% a year ago. Higher rates make homes less affordable. In June, the supply of existing homes for sale edged up to 5.2 months from 5 months in May, the National Association of Realtors says. That's how long it would take for all of the homes to sell if no more supply came on the market. Generally, Realtors consider a six- to seven-month supply as a balanced market.

In many markets, especially in the West Coast, inventories are far tighter and have helped lead to price gains exceeding the national average.

In June, Los Angeles-area home prices were up almost 21% year-over-year, CoreLogic says. Phoenix posted a 17% annual gain. Another major metro showing a big annual gain was Atlanta, with prices up 16% year-over-year.

Trulia's data show the asking price slow down to be most apparent in the West, where prices have rebounded most strongly. At the same time, many metro regions in the Southeast and Midwest, including Atlanta and Detroit, are seeing asking price gains accelerate, Trulia says.

Asking prices are a leading indicator of price trends and will get reflected in sales price indexes this fall. Even if price gains are slowing, they're still strong. CoreLogic predicts July prices to be up 12.5% year over year and up 1.8% from June.

Liz' bottom line - Prices are rising in houses. But just because the house price is rising, don't think you can just stick a sign in the yard and people will come running. Access to the MLS, marketing to other agents, holding broker/Realtor open houses are important. Title messes from the great recession can burn you without help from a Realtor. Nowadays, you need a Realtor more than ever.

I work with Historic Houses in Jacksonville because I live in a historic area

Recently, as in Saturday, August 10, I was on Channel 4, WJXT speaking about why people buy in historic areas of Jacksonville. There are historic areas of Springfield, Riverside, Avondale, Ortega and San Marco. However, only Springfield, Riverside and Avondale have a sweeping overlay that restricts the ability of an owner to tear down a house or make significant changes to the front of a house.

San Marco is a beautiful area of town, but in recent years there have been a few teardowns of houses. These teardowns are hard on the neighborhood because it is the houses that were of he period which creates the identity of the neighborhood. A few years back, a man and his wife wanted to tear down a house and build a 3-story condominium at Largo Road and San Marco Blvd. The City denied him because he wanted to build a 3-story product among other 2-story properties. This would have been out of character with the neighborhood, but he was still allowed to tear down the existing structure.

This cannot be done in Riverside, Avondale or Springfield without an order from the City Code Enforcement manager. Only when a structure is deemed unsafe for occupancy will you see the destruction order given. Often times the City of Jacksonville will work with the owners of such properties to see if the properties can be deeded over the the historic preservations. The historic societies and designations came about as the result of the efforts of many citizens of Jacksonville when homes in Avondale and Riverside were being torn down and replaced with commercial spaces along Riverside Avenue.

Pride has now stepped in and these once rotting structures are being maintained, restored, and cared for once again. It is always amazing to see the homes on a home tour. Riverside Avondale as well as Springfield have great home tours in the Spring. This is a fun way to see homes that have been renovated to get ideas for residents in their own historic properties. It is also a fun way to see a community come together. Try throwing together a 1980s revival of homes in Mandarin, it can be done for the homes of the period, but how many popcorn ceilings do you need to see to know this is not that special?

New has its place in the desires of homeowners. Most millennials these days want to buy a new home, and not have to worry about fixing major systems such as electrical, plumbing or roofing. There is nothing wrong with living in a 3000 square foot home that was built last year where all the rooms look the same or like a plan from a builder. In fact, many homes during the housing boom, saw tremendous gains in price. But while these locations are experiencing modest single digit increases so far in 2013, it is the historic areas that are experiencing 20-30% returns. Riverside Avondale is but one place here in Jacksonville.

I know this area as I have lived in it for 15 years and worked it for almost a decade. I love it and at the same time I give back to it and volunteer my time.  The best part about it is, its like the beach, they are not making more of the historic district, it is what it is and that is all there is. If you are interested in the historic districts of Jacksonville, call me to get more information or if you would like to see the value of your house, I can help with this too.

Liz

You receive a lot more than what you give out!

I was contacted by a sales person with a firm that captures more eyeballs and visitors than any other real estate solution on the internet yesterday. She was very complimentary to me on my new website, www.lizbobeck.com, as well as some of our other marketing I have my husband Jack work on for me. Naturally I wondered if she wanted to sell me something.....just human nature, right?

So yes she did, but when you capture 66 million people visiting your site each month, you tend to get people's attention. It is a fantastic site, Zillow, not for the Zestimates, but for what it manages to do on a monthly basis without having a direct feed to the MLS, or multiple listing service. It is the most visited real estate site in the country.

So while she was trying to sell me, she complimented me on the referrals I had received and also the number of answer I had posted to help people who have houses to sell or buy, or general real estate questions. My web people suggested I help more, as this will only help me later. What I give now, will come back to me later. Really no different than anything else we do as human beings to others.

So give back to your fellow human beings so receive from them!

Liz

Get someone to represent you on all real estate related transactions!

I try and help people on some of the forums by answering questions and helping people with their real estate related issues. I may not know all there is to know about mortgages, but I can tell when someone is getting the raw end of the stick. Case in point this morning, a nice lady was discussing her issue and I just had to jump in and help.

She refinanced her property, with no help from anyone else, she went to close and she found that her costs at closing had risen 800% and she had to come to closing and bring money. She was outraged, with good reason, I said. She then said that she has tried to contact her mortgage person 10x and has no luck with getting a solution that works for her.

Anytime you have a profession that involves lots of money, you are going to find it regulated, legal or not. So mortgage people are licensed and regulated at the state level as well. I suggested she put in a complaint with the Better Business Bureau and the State agency that regulates that behavior. I also suggested she speak with an attorney, maybe a pro bono person from the free legal aid group.

One way or another, this woman needs someone to represent HER in front of these people she dealt with for her mortgage. Until she finds someone to help her, she is at THEIR mercy and that is not a good place to be or live, as you lose sleep when you are uncertain and the anger eats you up inside, ask me how I know. So make sure you have someone to look over or help you with transactions involving real estate. It is worth having that peace of mind.

Liz

Recruiting is part of Real Estate too

The market seems to be changing, I know we all look at our Zestimates for our properties and believe all that increase that has happened month over month, right?! Well, maybe it has increased a bit, but that is really on paper, and even though we know it to be on paper, people are beginning to look at Real Estate as a career again, this is nice for an industry that was treated like a leper a few years ago.

Was it the Real Estate industry's fault that the bankers got greedy, packaged bad mortgages that people could not afford, and are still walking around without jail time? Realtors helped sell properties, but so did the mortgage industry, who made it worse by selling the junk to investors with guaranteed returns. Ugh!

But we are rising, like the Phoenix rising from the ashes, we are seeing more people coming into our Real Estate classes and more interest from the public to become a Realtor. In Florida, you can set your RE License to inactive and then you have 2 (TWO) years to re-activate it, before it becomes VOID. Why go sit through the RE classes, take that test, then take the state test, work your butt off, just to throw it away?

If you are a Realtor, with an inactive license, and looking to see what might be available with a great company, please contact me for more information on working for Prudential Network Realty. We are headed up, our parent company was acquired by Berkshire Hathaway, Warren Buffett, who seems to turn everything he touches to gold. We have the resources and technology to separate us from others. We are the difference makers in Northeast Florida. Contact me to learn more.

Liz

A few Apps to maybe help you with your business

Just about everyone I know who has a smartphone, uses the smartphone for more than just a paper weight. In doing so, they use applications, known as apps, to help automate and make life easier. Most "apps" do their best to eliminate the need to use paper. When you don't need to use paper, you can get an awful lot accomplished, quickly.

Case in point, first app, Checklist wrangler. During the day, when you are busy with this, that, another that and kids are pulling on you, dog is jumping on you, getting pulled in all different directions, you need a way to simplify your day. Checklist Wrangler manages multiple checklists and auto creates lists; creates templates for tasks you need to do more than once; creates checklists from text copied from emails, websites, etc.

Interaction is the key to a strong network which should lead to more business as people find you and need you for your product or service. Why not keep in touch with them using "Brewster"? This product pulls contact information stored across email, Facebook, Twitter, and LinkedIn databases to create visual, in-depth profiles. Sends updates regarding moves or new jobs, sends reminders when you're falling out of touch with someone, and has a highly intuitive search function.

Need an easy way to communicate out on the road when email or text will not do? Why not try "UberConference"? This great program will minimize your role as the go-between by quickly scheduling a conference call while on the go. Choose contacts from your address book and UberConference will automatically call, email or text contacts to join, no PIN required.

So a few neat apps to help you start your day. If you know of some as well, please share, I love learning about new apps, and new ways to streamline my business.

Liz

Every home looks the same from the outside, right?

I often am asked about why one home stands out from another. After all, if a house is built at the same year in the same neighborhood with the same floor plan, surely it should be the same value. Ah-ha, that is where the Comparables or data from the Realtor Property Resource account, which is provided by the National Association of Realtors, only active MLS agents have access.

What this allows is access to all of your listings, data about your sales and information in a neighborhood about schools and values. There is data on over 147 million parcels of property around the country. There is also access to foreclosure, pre-foreclosure and the history of data in the system. Most of the time a Realtor will meet with a buyer and discuss this information with them, to better prepare them for buying in the neighborhood.

On the other side, the seller will receive a handy report on the values of the neighborhood. The valuations as compared to other homes in your market, with many of the same features of a CMA, but all the data in a nice neat format that can be presented to the client. The current CMA system is bulky and it creates a large report that is hard to follow, especially if there are many comparables on the page. The best thing to use is this new RPR system if your MLS has access to it!

Liz

Estate Sales for items

I have blogged about staging in the past and it is true that staging a house will lead to a better opportunity to sell the house. So it makes sense to look for items at estate sales and the garage sales. I went out today and dragged my husband with me, we are looking for items for our backyard, as it has been repaired and it is ready for a few nice items.

So we went to every garage sale in the neighborhood. We even google'd Jacksonville Garage Sales, so we could drive down the road looking for the garage sales, as if the neon yellow signs were not enough of a hint. We were able to find some nice places, but not what we were looking for, so we set out to find the estate sales.

Pay dirt, the estate sales normally run on a Friday and end on Saturday, so they normally are ready to deal by Saturday afternoon. We were able to score four outdoor chairs and a table for a quarter of what they could cost in the retail stores. We painted them black to dress them up, will add some outdoor fabric and make them look good.

With some creativity, you too can find the right items for your backyard, your stagings, your anything. It really is true that one man's trash is another man's treasure. It reminds me of the time we placed our old grill which was done at the curb on a Sunday night for Monday pickup when we heard a knock on the door from someone who wanted to know if he could take the grill. Free still works at the curb too. Best of luck to you for your next find either at the estate sale or at the curb!

Liz

Not everyone is made to be a Realtor.

The lure of big money after September 11, 2001 led many people into Real Estate. Our economy was in the dumps at the time, but then President George Bush, helped push through a number of economic initiatives to help the economy get back on its feet and did it really take off up until 2008 when we all know what happened with Lehmen Brothers.

So that lure brought in a large number of people who decided they wanted to become a Realtor and cash in on the big sales that were going on around the country. Training programs exploded, classes expanded and the number of Realtors swelled. Then the crash came. What we found in 2008 and 2009 was that many of these "new" Realtors did not have a solid background with which to be in the real estate field.

Many of them are now gone, but we have a new rise in real estate and we have a number of new people who are interested in the Real Estate field. Things have changed since a few years ago, we now have more technology in the field, more apps to help us and many more programs to eliminate the need or use of paper in the transactions.

Some people are happier to have the Realtor license, but to just work as an assistant on projects. They don't want to need the pressure of the sales process. Working as an assistant can be just as rewarding to them as making the big sale or helping with a major transaction. And it helps them to get more active training than what is taught in the books or the classes. So sometimes being the assistant is a good and worthwhile activity.

Liz Bobeck

Using Pinterest to find female buyers?

I know we are all looking for an edge to find more listings, but this was very interesting to me:

A recent study revealed that single women represent a much more fruitful source of leads than single men. They are buying homes at nearly twice the rate as single men, according to the 2012 National Association of Realtors Profile of Home Buyers and Sellers.

The obvious takeaway is that agents are well-advised to seek out bachelorettes. But how?

Try surfacing your brand on Pinterest, argues AdWerx. The real estate marketing consultancy won Inman News’ latest  contest by tweeting a link to a blog post that it penned about how to leverage Pinterest to reach women.

Women are nearly four times as likely as men to use Pinterest, and those women tend to skew affluent, according to a 2012 study conducted by the Pew Research Center cited by AdWerx.

What’s more, the consultancy said, a study produced by Simply Measured revealed that Pinterest drives more traffic to websites than Twitter, LinkedIn, Google Plus or YouTube.

“As fast as images go viral on Pinterest, you could get images of  new listings out there in front of a LOT of women (buyers and sellers),” reads the AdWerx blog post. “You can create pin boards showcasing your listings and community, as well as pinboards boasting about your listing’s gourmet kitchen and incredible landscaping. Showcase your expertise in real estate with fun infographics and videos. Anything that shows you’re an expert in your field and understand your clients.”

Courtesy of AdWerx, here are three examples of templates that brokers and agents may use to hit the ground running. (A tip of the hat to Homes.com, which produced a Pinterest tutorial that AdWerx borrowed from for its recommendations.)

Pinterest pins with prices get 36 percent more likes than pins without them, according to a Shopify analysis.

Add the dollar sign and a number to automatically generate a price tag on a Pinterest image, and make it easier to find by infusing search-friendly metadata the image and adding both general and geotargeted hashtags, AdWerx said.

“The number one category on Pinterest is ‘Home’ and the #1 most popular board name is ‘For The Home.’ That means there are plenty of opportunities for you to gain engagement by pinning fun lifestyle photos related to homes,” AdWerx writes. “Examples: Dream Homes, Home Decor (as you get savvy, you can create a board for each individual space in the house like kitchen, bathroom, kid’s bedroom and garden), Seasonal Boards (i.e., home staging for summer, fall, winter and spring).”

What does this mean to me Liz? If you are a startup company and you are pandering to women or wanting to work with women, get on Pinterest, it is the best place to build your brand. Women are a force in the market and we need to remember that their money is growing now in the workplace with their independence and job security.

#LizBobeck