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Conventionally, foreign interest in US property has proved to be a boost for the overall American economy; and, the trend of declining foreign interest in South Florida’s properties had befuddled, and frustrated, Miami real estate brokers, considerably.

1. Miami’s Real Estate Market Has Finally Improved

If the findings, discussions, and the turnout, at a recent conference for Miami real estate brokers is to be any indicator, the aforementioned real estate crisis has resolved to some degree. The housing market of Miami seems to have recovered itself, as – for the first time in years – potential buyers are facing a shortage of properties for sale.

Owing to a discrepancy in demand and supply, the prices of the existing properties have risen by double digits, since the December of 2011.  This means that brokers can finally claim good money for that Fisher Island real estate for sale, or any other estate listings, for that matter. In such a market, prime properties like Surfside Miami Florida condos can demand a very hefty price. 

2. South America Has Large Stakes in Miami’s Estate Market

Coinciding with an overall improvement in the real estate market of Miami, there has also been a steady increase in foreign interest in South Florida’s properties. The official reports divulge that South Americans have proved to be very open about investing in residential properties, as well as vacation homes, in Miami.

According to Geovania Heller, a Brazilian real estate agent, who was present at the Miami International Real Estate Congress, prices of property in South Florida are better than that in Brazil.

Real estate dealers from other South American nations are also unanimous in their opinion that Miami happens to be a very friendly and unique market for South American purchasers.

Of all foreign nationalities that have stakes in South Florida’s real estate, Argentineans claim 15 percent share, while Brazilians are entitled to 14 percent stakes. Consequently, Latin Americans compose 70% of the overall foreign real estate deals in Miami.

In the light of the current real estate scenario, real estate brokers are now focusing on making their properties more attractive for the Latin American buyers. Subsequently, there has been an increase in listings of Miami properties in the real estate websites of South America. Along with this, the brokerage phenomenon of schmoozing, and rigorous mobilization of the social networks, has also contributed to an increase in Miami realtor’s overseas visibility. 

3. Venezuelans at the Top of Miami’s International Real Estate Occupants

Of all foreign buyers, Venezuelans buy the most properties in Miami. The official share that they have, in the list of South Florida’s overseas purchasers, amounts to a whopping 16 percent.

In fact, it is being projected that Venezuelans will continue to be the foremost buyers of Miami’s properties, for many years to come. The main reason for this is the unstable political condition of their native land.

It can be only hoped that such favourable trends will continue to bring more and more rewards for Miami’s real estate market.

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Brenda Lyttle is an enthusiastic custom home builder. She loves her job as she helps people frame out their dream homes from their imaginary canvas into reality.

Stinton is not stranger to these and other awards, obviously. From tech to in the trenches brokerage deals, Stinton is one of the most recognized decision makers in the country. He helped launch Second Century Ventures, the Realtors Property Resource, and fostered deals that in effect, became game changers.

The Best in Biz Awards, judged by analysts and the press, recognizes business leaders across many business sectors and departments. Other winners this year include; Janine Popick of VerticalResponse in the “mid-sized” business category; Austin Allison, CEO and Founder of dotloop; and Brian Compton, President of Tax Resolution Services.com, just to name a few.

For the full list of winners, please visit this link.

According to the news, Morris previously held the position of Founding Principal for Greenstead Group LLC. Estate asset management being that company’s area of expertise  it stands to reason Morris will add significantly to Partners’ value proposition for its clients. Patrick Miniutti,  President of the REIT., offered this via the company’s press release:

“We are very pleased to welcome Peter Morris to our senior management team. With the significant increase in the size and scale of our portfolio, Peter’s depth and experience will be invaluable as we continue to execute our proven value enhancing property management strategies.”

The investment trust just announced a resigning of leases with Wal-Mart Canada Corp., as well as acquisitions at Nun’s Island in Montreal, Quebec. The trust is focused on  is focused on acquiring and managing retail and mixed-use retail community and neighborhood centers in the range of investment of between $10 to $50 million dollars. This latest news also goes along with a dividend distribution announcement just the other day.

Partners currently has a total of $430,250,117 in assets, according to their website. The video below concerns the trust’s latest acquisition.

Image by Art Rock (Hennie)/flickr.com

ERA Real Estate has been around for 40 years, developing consumer-oriented products and services in the real estate industry.  The ERA network includes some 30,000 brokers and sales associates and approximately 2,400 offices throughout the United States and 35 countries and territories.

“As vacations wind down after Labor Day and people become more focused, the desire to be in a new home for the holidays is a historically strong driver of fall home sales,” said Charlie Young, president and CEO of ERA Real Estate.

The ERA survey reveals 40 percent of respondents like fall for homebuying because of the “back to school” and starting fresh mentality that hits when September and October come around. Twenty percent cite wanting to be in their new home in time for the holidays. And 10 percent want to take advantage of the tax benefit of buying and owning a home.

The biggest group of fall homebuyers are first-time homebuyers at 27 percent, according to the report. Twenty percent are move-up buyers. Some 17 percent are retirees or those downsizing. The remaining 36 percent is made up of investors, military relocations, vacation home buyers, and “other.”

Fall is also a good time from a buyer standpoint as many sellers want to try to sell by the end of the year. Also, sellers in colder climates generally want to sell before the cold weather and snow hit.

How the findings will affect what happens this fall remains to be seen.

The National Association of Realtors reports pending home sales in August 2012 declined after reaching a two-year peak. But the August figures are higher than August 2011.

Lawrence Yun , NAR chief economist, said some volatility can be expected in the monthly readings. “The performance in month-to-month contract signings has been uneven with ongoing shortages of lower priced inventory in much of the country, and across most price ranges in the West, but activity has remained at notably higher levels this year,” Yun said.

Michele Dawson is a freelance writer based in Phoenix, Arizona. She spent seven years as a newspaper reporter and has written for various magazines and web sites specializing in real estate and home improvement, including Realty Times, SmartHomeowner, California Builder, and the Sacramento Business Journal.

Overseas buyers are again the catalysts behind this appreciation, now in its ninth consecutive month. The median selling price of Miami-Dade condominiums is now at USD 146,500, an increase of 28.4% over the last year with pricing continuously appreciating now for 14 consecutive months. Meanwhile, the median selling price of single-family homes find themselves at USD 195,000, an increase of 10.8% versus previous year.

Though current inventory is below optimal, sales remain strong and are driving up the prices. Expectedly, the demand for Miami properties is seeing an upward trend too, mostly driven by foreign buyers and investors who acknowledge Miami’s investment friendliness. The mini boom that Miami is seeing is not just thanks to foreign buyers but also due to a significant population growth driven by migration from across other U.S states, baby boomers & local consumers with increasing appetite for property.

The average selling price for condos in Miami-Dade County is USD 283,497, an increase of 20.9%; it is USD 408,810 for single-family homes, an increase of 28.4%. Compare these numbers with the state average in August where condos were selling at USD 102,980 and single-family homes were selling at USD 147,000. These numbers published by Florida Realtors Industry further cement the perception of Miami as a top real estate destination. Residential President of the Miami Association of Realtors, Patricia Delinois (top left), says;

“Miami’s leadership position as a prominent world city is expected to remain for the foreseeable future.”

Businesses, residents, short & long term visitors, tourists, judicious investors and second homebuyers are all queuing up to make best use of the opportunity that this city has on offer. Data indicates that there is strong supply for 4.2 months in Miami-Dade. Strong demand for bank owner condos and better processing of short sales ensure that the listings are scooped up in a hurry and also that the prices continue to go up. As for the marketing end of things in Miami, the chart below shows where buyers are coming from.

Where the sales came from – Courtesy Miami Association of Realtors

© FotolEdhar – Fotolia.com

Is there visual clutter everywhere – stacks of paper cluttering your desk or dusty award shelves lining the walls? Or perhaps your office is clean and smells pleasant, but it makes visitors feel like they’ve stepped back in time.

The Modern Real Estate Office

Business owners know that to stay relevant in their industry, it’s important to understand the needs of their target demographic. As technology continues to advance, and continues to be made accessible to a wider audience, the more that realtors need to embrace the use of it in their businesses. In fact, more and more, technology is becoming an integral part of what it takes to be a real estate professional.

Advances in technology have allowed for more paperless – or at least reduced paperwork – transactions for agents, changing their office needs and by extension changing the “definition” of what a realtor’s office should be.

Mark Woodroof and Marilyn Eiland, owners of Better Homes and Gardens Real Estate in Houstin, Texas understand the needs of their clientele and have changed their business strategy to suit.

Discussing the changes, Eiland noted, “We are in a different market now, and that’s where the consumer is. The changes in the industry demand that we adjust the way we do business. We want our agents to have all the tools they need for the future of the industry – and that includes the best possible space to work.”

“Our new office spaces are highly functional and centered around technology,” said Woodroof. “This allows agents to be more mobile and to work more effectively with clients and other agents.”

Creating a Stimulating Environment

One example of the real estate “office of the future” involves an open floor plan, with no boxed off workspaces, encouraging collaboration and a transparency among co-workers.

Better Homes and Gardens Cypress, Texas conceived of a non-traditional workspace that was open and inviting rather than “shut-off” and “boxed-in”.

Office manager Rich Guderyon describes the concept behind his office, which opened in January of 2010.

“We just don’t need a lot of private office spaces,” Guderyon said. “This is a boutique-style real estate operation.”

“There is an openness to our office,” continued Guderyon. “There are more conversations and more interaction. The bottom line is agents are learning more from each other – from the most experienced to the rookies. And I like that.”

Transparency is a key concept which is certainly facilitated in Guderyon’s workspace. “It’s not the culture of a closed-door office – everyone is more accessible and more accountable,” he said.

Smaller, “boutique-style” offices can change the way realtors do business. “Instead of one large agency, we split into nice pocket offices that cater to specific neighborhoods,” Guderyon said. “Offices may be in adjoining subdivisions. They are not far from each other.”

Realtors – do you agree with this idea? Please share with us – what kind of workspace do you have?

Involved in real estate for more than 15 years, Anita Cooper is a freelance writer specializing in writing for the real estate industry. Her articles have appeared in the trade magazine “Real Estate Wealth”, as well as a variety of online venues. Cooper owns and operates a writing business geared towards assisting small business owners craft their own, unique message.

This figure certainly has an impact on the real estate industry, and in an effort to make sense of where the industry should expect to be, the Strategic Issues Work Group Association Executives Committee with the National Association of Realtors (NAR) put together a study entitled, “Simplify! Real Estate Trends in a Time of Uncertainty”.

The report attempts to answer the question, “What forces and trends will be shaping the industry in the next few years?”

The committee consulted with real estate professionals – brokers, consultants, economists and technology experts, asking them to identify industry trends which they believe will shape the future of real estate in the coming years.

Specifically, the committee asked the questions:

1. What do you see as the future of real estate in the next few years?
2. What are the major changes in the real estate business ahead?

Those real estate pros who were polled agreed on many issues, however opinions varied strongly among them as well.

One of the “common themes” arising as a result of the committee’s questions includes the idea that “more is not always better”.

Consumers often suffer from “information overload” – so much so that it leads to what some term “analysis paralysis”, meaning that the potential buyer does nothing towards buying a home, because they are too confused to understand the process.

NAR’s report indicates that when brokers make the buying process much simpler for potential clients – providing clear information across all of their marketing channels, utilizing technologies to their utmost and being responsive to the needs of customers, they will stand out above the rest.

The following analogy from the report spells out an opportunity that realtors should really take note of:

“Thirty-somethings Susan and her partner are trying to buy their first home, but feeling frustrated by the process. They’ve picked out five condos in their neighborhood that looked promising, but found the websites gave conflicting information. The first agent they contacted didn’t know how to send text messages. The second agent didn’t know as much about the buildings as they did. But Matt, the third sales associate, made it simple for them. He advised on their approach, validated the information, helped negotiate the contract, and made sure everything was in place for a smooth closing. Now, Susan is sending Matt a steady stream of referrals – by text.”

As you can see from the example, brokers who meet buyers where they are at – simplifying the buying process for their clients, have the potential to stand out from the crowd, ultimately leading to even more business.

NAR’s report covered much more than we’ve discussed here, and it is a good resource for brokers who are concerned about the impact that the current economic client will have on their business. Why not check it out now? Tell us what you think about the future of real estate!

The ListHub Syndication Network is the largest online syndicator of real estate listings in the country. In addition to listings, the Network provides performance reports for brokers, Multiple Listing Services and franchises.

What does this mean for Trulia.com users? It means access to additional listings available from over 47,000 brokers, as well as listing data derived from 400 participating MLS services.

Matt Dollinger, Head of Industry Relations at Trulia, Inc. said, “Trulia is committed to ensuring the highest standards of data quality and integrity for the real estate industry. We look forward to working with Listhub as a trusted partner for syndication and communicating Trulia’s metrics through their reporting products.”

Brokers will also have a valuable way to track the ROI of their marketing efforts because Trulia will provide ListHub with performance data which it will use to create their ListHub Channel Scorecard – a marketing report which offers a comparison of 126 real estate websites – truly empowering brokers to create the best possible marketing plan for their business.

Trulia will also be included in the listing of publishers on ListHub’s syndication dashboard. This application allows users to rate and choose publishers according to criteria such as “no re-syndication”, “timely removal of inactive listings”, or “shows broker contact information”.

Luke Glass, general manager and vice president of Listhub stated that, “ListHub is focused on helping brokers reach large audiences of buyers through an easy to use managed syndication platform that respects their rights as owners of the content. By adding performance metrics from Trulia, brokers have even greater insights into the effectiveness of their online advertising, while clearly understanding how their content will be used on publishing sites. We’re very pleased to offer the convenience brokers and MLSs want when syndicating within a controlled and transparent platform.”

Source: http://media.prnewswire.com/en/jsp/latest.jsp?resourceid=5355232&access=EH

The landing of the Good Property website - impressive is as impressive does

Engaging the Manhattan real estate niche, Good Property arrives with success oriented toward high end investment, and residential/commercial services tailored for the Manhattan market. The team; Josh Gurwitz (image below courtesy Blair Getz Mezibov), founder and principal broker, and Todd Lewin, managing director and former Prudential Douglas Elliman broker – are now geared up to spread their brand of excellence  onto the Manhattan real estate canvas. I for one, love their new website, at first glance.

Good Property Company's founder, Josh Gurwitz - courtesy Blair Getz Mezibov

Good Property’s key executives come  from myriad backgrounds, non-profits to music journalism and interior design, their eclectic talents add a dimension to the company’s expertise grid. One can easily detect the design elements in the flavor of the new website (landing above). Established in 2009, Good Property Company collaborates with real estate developers, brokers and owners for compelling and unique “win-win” end solutions. Josh Gurwitz, founder and principal broker, had this to add about the news:

“People are going to want to hang out in the ‘space’ – whether to talk real estate or to listen to a local musician. We are a passionate and hands-on group, with a strong belief in reinvigorating the real estate scene with a smart, authentic, and fresh approach.”

Gurwitz, a native Newyorker, holds degrees from Parsons The New School for Design and the New York School of Interior Design, on top of his expertise gleaned from working with renowned design and architectural firms Clodagh and Gensler.  As you can see from the Manhattan listings on the new site, Good Property already distances itself, at least online, from 99 percent of the real estate companies in New York. On the “con” side of things, the site lacks depth (understandable, it’s new), and there is a lack of social media and personalization present.

We will do a more in depth look into this later. For now, at least where branding and “putting up” are concerned, Good Property does indeed look good.

Good Property Gramercy listing - a cut above most real estate sites

For more information about Good Property Company, please consult the company’s links, this press page, or 100 Stories PR’s Cassandra Carpio at: 212.570.2700

Marriott Marquis Times Square New York

Among the industry-leading thinkers and innovators featured this year are:

• Phil Libin, CEO of Evernote, a company that offers web and mobile apps for syncing notes and other media via the cloud
• Clara Shih, CEO of Hearsay Social and author of “The Facebook Era”, a bestselling book about “tapping online social networks to market, sell, and innovate”
• Jeff Jarvis, author of “What Would Google Do?” and professor of Journalism at New York University
• Claire Boonstra, co-founder of Layar, an augmented reality browser for mobile platforms
• Jason Baptiste, CEO and founder of OnSwipe, a company that helps publishers create rich news and ad content for devices with touchscreen capabilities

Also featured will be thinkers from Zillow, CoreLogic, and Trulia, in a panel discusison about the wide range of tech real estate trends and how to take advantage of the good ones and avoid falling victim to the scams.

Attendees will have the opportunity to network with industry leaders from all over the country in some of the most prestigious real estate enterprises, acquire a wealth of innovative ideas about  technology and real estate from financial experts and leading brokers, and browse through exhibits on the trade show floor that highlight many of the products real estate professionals need to be successful. With a plethora of workshops and opportunities, it is an event worth considering.

Real Estate Connect 2012 NYC will take place at Marriott Marquis Times Square, January 11-13, 2012. You can register for the event online. Three-day conference packages start at $899. Inman News is hosting the conference.