Continue Reading Add comment July 23rd, 2008
The House on Wednesday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
Continue Reading Add comment July 23rd, 2008
J.D. Power, the market research firm best known for its customer satisfaction surveys of new cars, came out today with its first-ever survey of real estate agents. This has got to be a tough time to do this product launch.
The big winners were Keller Williams, which had the highest rank among home buyers. Prudential scored highest among home sellers. J.D. Power explains that it needs two winners because buyers and sellers are looking for different skills. Buyers want someone who’s available when they call, responsive to problems and helps negotiate a good deal. Sellers want someone who can market their property. Coldwell Banker and RE/MAX also scored highly.
A few interesting stats: Half of all customers found their agents through family or friends. Home buyers were shown an average of 13 houses before making a purchase. Sellers say their homes were shown eleven times.
In the interest of full disclosure, J.D. Power is, like BusinessWeek, a division of the McGraw-Hill Cos. (Although nobody forced me to write this column. I swear.)
Continue Reading Add comment July 23rd, 2008
I got this note today from a BW colleague who shall remain nameless:
A few years ago, I ran into the real estate agent who sold me my apartment on the street. He was washing his Maeserati. I took that as a sign that I was living in a housing bubble.
Now: a sign that the bubble is bursting….a service that tips off potential buyers to price cuts right on their cell phones…
And here’s the first bit of the press release he sent me:
FOR IMMEDIATE RELEASE
New Home Shoppers Offered Price Drop Alerts
Home Builder Bargains Via Text Message
BEVERLY HILLS, Calif., July 23, 2008 — Incentive Real Estate, Inc. today announced the launch of its exclusive
PriceDropAlerts(TM) service for potential buyers of new construction homes in Maryland and California.
PriceDropAlerts(TM) are delivered to a homebuyer’s mobile phone via text message. It provides the recipient with the power to respond immediately to new construction home price reductions. Alerts can be created for single or multiple properties, or for a particular community or builder.
Continue Reading Add comment July 23rd, 2008
Kalmon Dolgin Affiliates arranged a 20,000-square-foot lease for Root Capture Inc. at the property located at 131 North 14th Street in the Williamsburg neighborhood of Brooklyn, N.Y. Read more »
Continue Reading Add comment July 23rd, 2008
A total of 700,000 square feet of sublease space flooded the San Francisco office market over the last three months, pushing the overall availability rate to 14.8 percent, an increase of 1.6 percentage points as compared to the first quarter of 2008. Read more »
Continue Reading Add comment July 23rd, 2008
Colliers International announces the formation of the Urban Landlord Partners, which focuses on the needs of institutionally owned assets located in downtown core markets. Read more »
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