» Real Estate

What is Market Intelligence?

Leslie Williamson — Fri, 17 Feb 2012 14:15:25 +0000

We have a saying in the NRT Development Advisors’ office: There is an art and a science behind every decision. The “art” involves what feels right, relying on a gut instinct that is trusted following years of experience and success. The “science” removes the emotional and focuses on the facts and figures. NRT Development Advisors’ Market Intelligence Department provides the science behind our real estate recommendations. Market Intelligence helps clients make well-informed residential real estate decisions.

Our proprietary Universal Database combines data from MLS and FMLS listings (deleting any duplicates) to recognize trends in distressed and market sales, across all price points. Additionally, weaving in information from a large number of sources – including pre-foreclosure listings, new construction sales, demographics, regression analysis, sales trends and more – allows NRT Development Advisors to assemble reports that no other sales and marketing company has the ability to create. Because every data source (macro and micro) has its limitations, we understand that it is important to pull from as many quantifiable sources that are available in order to provide the most accurate market picture. The ultimate goal is to help our clients compare ‘apples to apples.’ From our in-depth analysis, we are able to make recommendations that answer questions such as:

o Is this new construction project feasible?

o What is the gap between market sales verses distressed sales in neighboring communities?

o How can we best reposition a property to achieve strong sales velocity?

o Who is currently buying and what are they buying in a particular area?

This type of information is helpful to builders, developers, banks and investors in various stages of acquisition and development. It is always important to make well-informed market appropriate decisions. To learn more about how our Market Intelligence Department can help with your development, asset valuations or site repositioning contact us.

Coldwell Banker® Issue Home Listing Report Ranks Most Expensive and Affordable Housing Markets

Leslie Williamson — Wed, 15 Jun 2011 21:58:41 +0000

Check out the latest and greatest by Coldwell Banker! Ever wonder what your home is worth? The Coldwell Banker Home Listing Report (HLR) can help! HLR provides the average home listing price for a four-bedroom, two-bathroom home on coldwellbanker.com. HLR allows you the ability to compare home values in more than 2,300 real estate markets. HLR is a valuable tool for both sellers looking to estimate the value of their home or buyers trying to gauge real estate prices in a specific market. Click on the states below to compare home values in your area versus other real estate markets across the country. View the complete Home Listing Report at http://hlr.coldwellbanker.com.

Joe Wake and Kelly Guidry Recognized as Top Producing Sales Associates by NRT, LLC.

Leslie Williamson — Wed, 30 Mar 2011 18:49:21 +0000

Coldwell Banker NRT Development Advisors (NRTDA), a specialty division of Coldwell Banker that serves as a comprehensive, strategic sales and marketing advisor for new construction and distressed residential developments, is pleased to announce its top producing sales associates for 2010 were nationally recognized by NRT LLC, the nation’s largest real estate brokerage and NRTDA’s parent company.

Top Associates in Building and Development for NRT are Kelly Guidry (Atlanta) for sales volume and Joe Wake (Orlando) for total units.

“These distinctions are reached by very few real estate associates across the country. Our sales professionals’ dedication, experience and drive to provide exceptional service are the reasons they achieved these awards,” said Brad Horner, President, NRT Development Advisors.

In addition to the individual awards, NRT Development Advisors was ranked as the Top Office in Building & Development in sales volume and total units. NRTDA has received this top ranking for six consecutive years.

Coldwell Banker NRT Development Advisors Recognizes Sales Associates for 2010 Sales and Performance

Leslie Williamson — Mon, 07 Feb 2011 15:37:50 +0000

I once heard that TEAM = Together Everyone Achieves More. At NRTDA, we have the winning team and on January 27th, we honored the following sales associates during a ceremony held at 1010 Midtown, 2010’s top-selling condominium community in Midtown Atlanta and marketed by NRTDA. These sales associates were recognized for their 2010 performance in the following categories:

Sales – Kelly Guidry (1), Shira Broder (2), Kathy Phillips (3), Sunny Williams (4), Jim Fountain (5)

Total Units – Sunny Williams (1), Kelly Guidry (2), Shira Broder (3), Jim Fountain (4), Kathy Phillips (5)

Manager of the Year – Jim Fountain

Rookie of the Year – Cindy Leach

Extra Degree Award – Liz Baska

Professionalism Award – Mike Caggiano

Outstanding Attitude Award – Lenny Rindsberg

“It is a pleasure to work with such a professional team of associates,” says Brad Horner, president of Coldwell Banker NRT Development Advisors. “NRTDA continues to be a leader in marketing and selling residential attached homes, and it is a direct result of our associates’ hard work, market knowledge and dedication to their clients.”

Congratulations to everyone!

Friday Five: Smarter Marketing for 2011

Leslie Williamson — Fri, 07 Jan 2011 09:21:49 +0000

Realtor Magazine shared an article by Inman columnist Bernice Ross. Below are some of her tips for spending marketing time more effectively.

1) Don’t wait for the phone to ring. Stop spending time on the “up desk’ and devote your energies to less passive activities like holding first-time buyer seminars, knocking on doors, calling sellers who have let contracts expire and wooing FSBO’s.

2) Be a specialist. Top producers pick a niche or two and work it. Common niches include geographical farms, new homes, estates, and relocation.

3) Work your farm. If you have not closed at least four transactions from your geographical farm in the last two years, replace it with something more profitable.

4) Stop being a secret agent. Networking should produce leads. If yours isn’t, then find other ways to solicit leads.

5) Tidy up your database. Delete the people who haven’t produced any sales in 24 months.

Let’s make more money by working and marketing smarter in 2011.

Source: Inman News, Bernice Ross (12/28/2010)

Let’s Ring in the New Year!

Leslie Williamson — Fri, 31 Dec 2010 14:16:32 +0000

To help you ring in the New Year, here are several of our favorite quotes at NRTDA!

Cheers to a New Year and another chance for us to get it right.
Oprah Winfrey

Many people look forward to the new year for a new start on old habits.
Author Unknown

Youth is when you’re allowed to stay up late on New Year’s Eve. Middle age is when you’re forced to.
Bill Vaughnv

New year, same goal.
Joe King

We will open the book. Its pages are blank. We are going to put words on them ourselves. The book is called Opportunity and its first chapter is New Year’s Day.

Edith Lovejoy Pierce
One resolution I have made, and try always to keep, is this: To rise above the little things.

John Burroughs

Happy New Year from NRTDA!

What’s ‘hot” in Atlanta’s condo and single family markets!

Leslie Williamson — Wed, 13 Oct 2010 18:46:36 +0000

We have collected and analyzed mid-year Atlanta 2010 residential real estate data, and it has become very clear what is ‘hot’ in today’s condo and single-family markets. Below is a sampling of the data, which is from Smart Numbers through mid-year 2010 (unless otherwise noted).

NEW CONSTRUCTION CONDO MARKET

80% of closings in the overall market were priced under $300,000; closing analysis from FMLS continues this trend through 3Q10.
464 closed units through mid-year 2010, which is down 22% from the mid-year 2009 figure of 597.
Smart Numbers reported 464 closings through mid-year 2010. FMLS listed 131 closings for Q3 alone.
The 2010 mid-year average sales price was $272,264, which is down 5.7% from the mid-year 2009 average of $288,934. The 3Q10 average closed price in FMLS was $252,120.
According to the Mid-Year 2010 Haddow report, the number of unsold units reached its lowest level since year-end 2003. With little to no new construction activity bringing new condominiums to the market, this number will continue to decline.
Half of the top 10 selling sites are marketed by Coldwell Banker NRT Development Advisors, more than any other company.
Nearly 60% of all new construction condo sales activity took place in the Buckhead and Midtown sub-markets.

NEW CONSTRUCTION CONDO SUB-MARKETS

Buckhead

The market had a slightly higher average sales price ($464,468), which could be attributed to absorption of higher-priced homes at 10 Terminus Place, as well as closings at Sovereign and St. Regis. The 3Q10 average in FMLS is $509,384.
49% of closings were priced under $300,000; 86% of the market is priced under $550,000. Closing analysis from FMLS continues this trend through 3Q10.
10 Terminus Place accounts for almost 40% of activity in the sub-market (10 Terminus Place and Gallery Residences, combined, account for 60% of the Buckhead market). Closing analysis from FMLS continues this trend through 3Q10.
There has been slow absorption in the $1M+ price range; 2 of the 3 closings at St. Regis were pre-sale contracts (the 3rd was written in December 2009 and closed in January 2010), and there were 2 closings at Sovereign.
Buckhead typically offers aggressive pricing and developer incentives.

Midtown

Midtown has nearly double the volume of Buckhead (172 homes closed through mid-year and there were 28 closings listed in FMLS in 3Q10).
The market has lower price points than Buckhead (77% of closings were priced under $300,000, compared to 50% in Buckhead); closing analysis from FMLS continues this trend through 3Q10.
Viewpoint lead the market, followed by Twelve Centennial (which is technically a Downtown property), 1010 Midtown and White Provision.

Downtown

Downtown had much lower price points than other sub-markets (97% of the market is priced under $300,000 and 74% is priced under $200,000). Closing analysis from FMLS continues this trend through 3Q10.
Castleberry Point lead the market, followed by Central City, Oakland Park and Stacks Lofts.

Vinings

Average price points were in line with other sub-markets (88% of the market is priced under $300,000); closing analysis from FMLS continues this trend through 3Q10.
Aberdeen recently began closings (2 homes closed in 2010 at $1.9M and $2.0M).

RESALE

There were 480 resale condominium closings in all metro-Atlanta during 3Q10, according to FMLS.
Buckhead: 65 closed, average sales price of $211,573, accounted for 14% market share
Midtown: 114 closed, average sales price of $132,670, accounted for 24% of market share
Downtown: 41 closed, average sales price of $95,245, accounted for 9% of market share
All other markets account for 54% of total resale market in 3Q
There were aggressive pricing and incentives offered by new construction sites in Buckhead, Midtown and Downtown, which could be taking market share away from resale.

BUILDING PERMITS (data from DEC International)

As of 9/27/10 for the 27-county metro area, 3,358 single family building permits were pulled for the fist 10 months of this year, compared to 5,577 in the preceding 12 months.
The top builder was DR Horton with 303 permits (compared to 624 last year), followed by Ryland and Pulte. To be in the top 20, a builder would need a minimum of 33 permits.
The average valuation for these permits was $157,123. Assuming builders undervalue or at least value their property at cost, we could assume the retail price of these homes will be under $250,000 on average. 74% of all new home sales in a 15-county area are under $350,000; 61% are under $275,000.
At this pace, the 2010 total permit number will likely be fewer than 6,000 (probably close to 5,500, which will be slightly more than the 2009 number of 4,800).

Be the Consultative Sales Expert

Collin Ellingson — Thu, 16 Sep 2010 14:45:30 +0000

By: Collin Ellingson

Variations of the “market uncertainty” theme are some of the most frequently cited objections we are hearing from current prospects in the market for a new home. This is why the “consultative sell” as opposed to the “hard sell” is proving more effective in this market. It’s great to be a strong closer, but attempting the close without listening to your prospects will almost always result in NO sale.

The consumer is overfed with conflicting information, and therefore they are starved for expert advice. Become their expert. Resolve the following question(s), and the “market uncertainty” prospect will become your next buyer:

“Prove to me that this is a great time to buy a home”.

“Provide me with the confidence to make a buying decision.”

“Share with me why this property represents a great opportunity?”

NAR recently released their top “10 Market Facts for Uncertain Times” to aid Realtors™ and their clients in understanding the current market. They are listed below:

1. The economy is growing, though slowly.
2. The private sector is finally creating some jobs.
3. Consumer confidence remains low, though clearly off bottom.
4. The 30-year mortgage rate is at generational lows.

5. The national median-home price is stabilizing.
6. Other home-price measurements also are showing price stabilization.
7. Home price-to-income ratios have returned to fundamentally justifiable levels.
8. Economists expect price increases in upcoming years
9. Delinquencies are high but recent loan originations are performing well.
10. The long-term path to self reliance may be helped from long-term housing-wealth gains.

NAR also released a Powerpoint presentation which expands upon each point, and can add yet another selling tool to your arsenal. Please take a minute to download the presentation and review the slides. They are excellent taken individually, or as a whole.

Why not print the entire presentation, or save to your laptop or Ipad (!!), to review with your particularly analytical clients?

You will be positioning yourself as THE market expert who your client can trust to aid them in making the right decision.

The powerpoint link is: ( http://www.realtor.org/wps/wcm/connect/9e2ed38043cfc555926ffb34cafa6d66/Market+Facts+%28September+2010%29+edits2.ppt?MOD=AJPERES&CACHEID=9e2ed38043cfc555926ffb34cafa6d66

(copyright National Association of REALTORS®. Reprinted with permission)

Don’t Let Market Data Deter Your Customers from A Great Homebuying Opportunity

Collin Ellingson — Wed, 25 Aug 2010 22:07:03 +0000

By: Collin Ellingson

The data released this week from the National Realtors Association didn’t exactly paint a positive picture of the current market. National sales for existing homes in July dropped to a 15 year low. July sales fell by over 27 percent compared to June, and sales decreased 25 percent from July 2009.¹

So, your prospects and customers come armed with this information when they enter your sales center, open house, or new listing. What to do?

Listen – Your customer/client needs to know that you are a consultative ally in their home purchasing process.
Acknowledge – In order to establish trust and credibility, you must acknowledge your customer’s concerns and fears.
Question – Ask direct questions to uncover the true mental obstacles to a purchasing decision.
Present a Solution – Turn each objection into a positive opportunity.

Sure, July sales fell, but that is partly due to the wealth of closing activity which occurred in June as a result of the homebuyer tax credit. Summer seasonality is another factor. So, one could argue that the drop in sales was expected.

In addition, most of the favorable “buyer’s market” conditions which existed in the spring are still in place now:

Historically low interest rates:

Historically low interest rates: As of 8/25, 4.5% on average for a 30-yr fixed, and 3.5% for a 5/1 ARM
Housing affordability is still at all-time highs
Sellers are willing to negotiate price and conessions
Desirable inventory = choice

Most of the new-home communities we represent at CBNRTDA possess readily available financing options, including FHA and conventional project approvals.

Also, in contrast to much of the competition, many CBNRTDA communities have surpassed 30%, 50%, or even 70% sold-out status.

Show your clients why and how your listing and/or community is bucking the market trend.

Use this information to sell from a position of STRENGTH, STABILITY, and SECURITY, and you will often see buyer hesitancy disappear.

¹“Atlanta Housing Market Suffers Big Setback”. The Atlanta Journal and Constitution. August 25, 2010.

Sales and Marketing Leader Partners with Stonecrest Homes!

Leslie Williamson — Fri, 23 Jul 2010 19:20:28 +0000

COLDWELL BANKER NRT DEVELOPMENT ADVISORS SIGNS THREE METRO-ATLANTA COMMUNITIES

Sales and marketing leader partners with Stonecrest Homes on its new construction developments
ATLANTA (July 22, 2010) – Coldwell Banker NRT Development Advisors was selected by Stonecrest Homes as the sales and marketing firm to represent three of its new home communities: Harmony on the Lakes – Palisades, Eagle View and Harmony on the Lakes – South Village. For these three communities, NRT Development Advisors will provide services including project feasibility studies, comparative analysis, pricing structure, architectural input, product positioning, marketing, sales management and more.

“We describe Stonecrest Homes as ‘a thoughtful and purposeful collaboration’ of some of metro-Atlanta’s real estate development leaders, and we follow that same collaborative approach when selecting our extended team, including our sales and marketing partner,” said Stonecrest Homes’ chief financial officer Jim Chapman. “Stonecrest Homes tapped Coldwell Banker NRT Development Advisors to represent our three new home communities because of the stellar marketing and sales strategy and execution that NRT Development Advisors is known for, as well as the unprecedented industry and consumer insight that they can provide throughout the development process.”

“NRT Development Advisors is pleased to add Harmony on the Lakes – Palisades, Eagle View and Harmony on the Lakes – South Village to our diverse portfolio, as these unique properties deliver distinctively designed homes at affordable prices,” said Brad Horner, president of Coldwell Banker NRT Development Advisors. “As we do with all of the communities we represent, Coldwell Banker NRT Development Advisors has assembled a tailored sales and marketing team for each community that complements the groups’ expertise and experience with the communities’ features.”

About Stonecrest Homes

Stonecrest Homes delivers maximum homeowner value by focusing on production efficiency and proven best practices. The company was created by long-time homebuilders Charles Heiser, Jr. and Jim Chapman to meet the needs of today’s value conscious, upwardly mobile family buyer. Learn more at www.StonecrestHomesGA.com or by calling 678-426-5300.