A San Diego Real Estate Web Log

Our San Diego home search provider just got better. We have been using a platform from Diverse Solutions for the better part of the past year. I love it, and I can only assume that our users appreciate it as well. I can only assume, that is, because I have long adopted a contrarian approach among real estate agents to allow free comings and goings without requiring registration. More on that crazy, self-defeating way of earning your business in a minute, but first for some of the cool new features. Visitors can now search by:

• School district
• Days on market
• Price change
• Nature of sale (foreclosure, pre-foreclosurem short sale)

In addition, visitors can make notes on specific homes for later reference. The searches seem to be loading faster, and the navigation is more intuitive.

Jay Thompson, the Phoenix Real Estate Guy, is a fellow disciple of my church of laid-back information delivery and a fellow Diverse Solutions customer. He wrote:

I (once) experimented with requiring user registration. While there is no question that the number of “leads” produced in this manner increased greatly, the fact is that I don’t follow up / call / email anyone that simply wants to search for homes. (I know for a fact that many real estate agents and brokers are shaking their heads in disbelief right now). The way I figure it, you guys are pretty smart. If you need help, you’ll ask for it. And I’m more than happy to help.

Since I don’t “follow up” there seems little reason to force people to register. So that functionality has been turned off. Now if you want access to some wicked cool things like saved searches, the ability to get automatic updates of new homes, build your own RSS feeds for specific home searches and more, then you will need to supply an email address and password. You still won’t be hassled or get newsletters, refrigerator magnets or any other trinkets real estate agents are prone to distribute. That’s not how we roll. But to access things like auto-updates and saved searches, there has to be a way to identify you from the other several hundred that are using this tool. Email is the way that is done. Trust me, I loathe spam and your email address will never, ever, be sold or compromised.

Amen, brother! This describes our philosophy to a T.

Take it for a test drive. I promise not to put you in a headlock and make you buy something.

And this is why you, the seller, care if your agent is making technology the cornerstone of their marketing campaign.

From the 2008 National Association of Realtors^® Profile of Home Buyers and Sellers:

When asked where they first learned about the home purchased, 34% of buyers said a real estate agent; 32% the Internet; 15% from yard signs; 7% from a friend, neighbor or relative; 7% from home builders; 3% a print or newspaper ad; 2% directly from the seller; and 1% a home book or magazine.

And, further evidence that strong on-line marketing is not just hype and that it is no longer enough to throw your listing into the MLS and call it a day:

Buyers used a variety of resources in searching for a home: 87 percent used the Internet, 85 percent used a real estate agent, 62 percent yard signs, 48 percent attended open houses and 47 percent looked at print or newspaper ads. Fewer buyers rely on a home book or magazine, home builders, television, billboards and relocation companies. Buyers most commonly start their search process online and then contact a real estate agent. (Emphasis added.)

But then, if you are a consumer reading this, I suppose it is all rather intuitive.

We aren’t quite to the end of the year, but we can see 2009 from here, so I thought it might be time to reassess where we have been and where we might be going.

The single, most frequently asked question we field concerns when we will see prices bottoming out and when we might get there. Until I can see a reversal in our current trend lines, I can’t say with any confidence that we are there yet.

I put together the following charts using information from the Sandicor Multiple Listing Service (MLS). The charts show annual median sales prices and sales volume over a ten-year period. Again, the data for 2008 is incomplete, but we are close enough.

My executive summary is this. Condos and single-family detached homes are following the same trend in our community, nearly mirror images. I was hoping to see some evidence from the condo activity that we are turning a corner (clinging to the old adage that so go the condos goes the market), but that wasn’t the case. Detached prices are back to early 2003 levels, while condos are back to late 2002/early 2003 pricing. Since the peak year of 2005, detached Scripps Ranch homes have given up approximately 20% of their value and attached homes approximately 25%.

With that, buckle your seat belts:

I will update these charts in January, when 2008 is but a memory and our final numbers are in. In the meantime, it is important to remember that we have some interesting dynamics at play, any or all of which could impact our housing market (or not). Among these are:

↔ A new Presidential administration

↑ Continuing Fed efforts to stop the bleeding

↑ An increased willingness within the lending community to restructure loans for troubled homeowners

? Wall street, jobs numbers and overall consumer sentiment

↓ Lower thresholds for non-conforming (Jumbo) loans

↑ Latent buyer demand

? Interest rates

So there you have it. We wait, we watch, but we do know that since 2003 at least, there has never been a better time to buy!!

I’m on the fence. I have been spending some time this morning nosing around on various sites offering mobile listing marketing services. The various services range from almost affordable to insanely, per month expensive. Then, there is Tagga, which is free (if you don’t mind putting up with a few ads).

I like the ability to establish my own keyword, in this case “Larmier” for a listing we have on (get this) Larmier Circle in Scripps Ranch. I like the fact that I can create a little site optimized for mobile phone delivery. Our web site for this home is full of slide shows and java script, so it doesn’t play nice with my Treo. But this text delivery system returns a maximum of 80 characters and a link to the mini-site. For anyone who doesn’t have a web enabled phone or is afraid to use the one they have (because they haven’t popped for the unlimited web plan), I am not sure of the value.

Before I run out and start ordering sign riders promoting the text messaging feature, I was hoping there might be some honest people out there who would be willing to talk me off the roof. If you are standing in front of my listing, how inclined would you be to text for more information? If this is the information you received (try sending a text message to 82442 with the message “Larmier”), would you consider it of value or just a waste of my time and resources? Keep in mind that you are probably staring a full brochure box in the face, and you are most certainly gazing at a sign rider displaying the unique URL for this home.

… who are going to have to listen to her 2008 election stories until their eyes glaze over.

Regardless of your political persuasions, it is hard to deny that today is anything but just another Wednesday. And while I was out showing condos last week, my daughter in red was putting together quite an impressive scrapbook. These were taken in her Missouri swing state on Friday, New President Minus Four.

I would have shared my photos of my own big day (I saw a couple of really nice properties), but I didn’t want to upstage her. Maybe tomorrow.

photo credit: infrogmation2