It’s a Small World and We’re All Connected
August 31st, 2007 Categories: In The News Calabasas
What do Six Degrees of Kevin Bacon, Viral Marketing and John Gerard all have in common? A lot in my book. The Kevin Bacon game is based on the concept that it’s a small world, and we’re all connected. What you try to do is link any actor to Kevin Bacon in as little links as possible. For example, Jack Nicholson was in A Few Good Men with Kevin Bacon. Michelle Pfeiffer was in The Witches of Eastwick with Jack Nicholson, who was in A Few Good Men with Kevin Bacon. So Kevin is linked to Jack in only two degrees.
Viral marketing isn’t so different, it too is based on the concept that it’s a small world, and we’re all connected. Viral marketing is a technique that uses pre-existing social networks or relationships to increase brand awareness through self replicating viral processes. People pass along a marketing message voluntarily, for example, a funny video clip, an interesting article or a blog via email, text messages or even by word-of-mouth.
Who the heck is John Gerardand what does he have to do with any of this?
John is an amazingly passionate guy from Syracuse NY who quit his job, cancelled the contract on a house that he was buying and is driving across the country while conducting a unique social experiment. He wants to find out if a person can get famous in 31 days with just buzz. Its been a about a week since he started his trip and based on what I’ve seen, I think he is going to do it.
First let me give you my Six Degrees of separation on how I even know who John Gerard is. I’m a member of Active Rain a real estate bloggers website. Colleen Kulikowski posted a blog called the Laurie Manny Challenge, 3 Posts I think you should read. This was a contest asking Active Rain members to write about their three favorite blogs. John Novak listed Problogger as one of his three favorite bloggers in his contest post. After reading John’s post, I subscribed to Problogger. A few weeks later Problogger interviewed John Gerard and wrote a blog post about his story. From that article I clicked on the Famous in 31 Days link and that’s why you’re reading this now.
This is the perfect example of viral marketing and the concept that it’s a small world and we’re all connected.
But wait…..there is more to this story and this gets good, so stay with me here. After checking out John Gerard’s Famous in 31 days website and watching his videos I immediately become sucked in to his project (this is exactly what viral marketing is supposed to do). His story and project appeal to me on both a personal and professional level. Personally, this man is risking his career, his life savings and his reputation to follow his dream. He ultimately wants as much media attention as possible in the next few weeks to become famous (virally).
He is documenting his trip with a video camera as he goes. He posts video clips (video blogs/VLOGS) on the web as his trip progresses and plans to make a documentary at the end of his journey. John’s goal is to end up in Los Angeles on the Tonight Show with Jay Leno.
I called John yesterday to interview him for this post. He is warm, articulate, full of energy, has a great sense of humor and is very passionate. After chatting with John for awhile and getting all the background information I asked him what I could do to help him reach his goal. We talked about this for awhile.
What John really needs is publicity and viral buzz. As I see it, he needs the same thing that bloggers need. What I’m asking you my reader, is to take a peek inside your little black book, Rolodex, Blackberry and see who you know that connects to fame. Can you connect fame and John Gerard with your contacts? Maybe you know a news reporter, a TV personality, a producer, a film maker or even a movie star? Perhaps you can write about John in your blog?
I bet you’re asking yourself why you’d get involved with this project? This has nothing to do with real estate. Well I’ll tell you why, this is all about viral and so is blogging. This is an important social buzz challenge and as a blogger its a great demonstration of what a dream and a few typewriter keys can do. In John’s case, a dream and a video camera.
Check out John’s Famous in 31 Days website, and watch a a few of his videos. His email address and phone number are right there on the site. He answers his email and phone personally. If you do decide to post a story about John on your blog, be sure to email him a link so he can post it on his website.
Its a small world and we’re all connected.
| Discussion: 15 Comments »
Buyer Beware - Don’t Remove Your Loan Contingency - Podcast
August 30th, 2007 Categories: In The News Calabasas
Like sand through an hour glass so are the days of our lives so does the mortgage business change. We all have done some pretty quick thinking lately to keep up with the recent changes in the mortgage industry.
Living and working in Calabasas, CA, which just happens to be the headquarters for Countrywide Mortgage has made the the media hype here even worse. No, the sky is not falling and yes there are things we can do to protect our buyers in the event that we have another mortgage episode.
Im advising my buyers not to remove the loan contingency until their mortgage actually funds. You can listen to my podcast by clicking below.
Those of us that have been in the real estate business for more than a decade know that theyll keep turning that hour glass over and over. New mortgage products will be developed, life and real estate will go on just like the sand through the hour glass.
| Discussion: No Comments »
Comb Over Anyone?
August 29th, 2007 Categories: In The News Calabasas
My Grandfather had a comb over long before The Donald made it famous. He was a Serbian immigrant and actually was quite handsome for an old guy; well that’s what all the old ladies in his town thought anyway. I’ll never forget the first time I saw his comb over blowing in the wind…it was long (past his shoulders). My sister and I could not contain ourselves and we started giggling uncontrollably. My Grandfather, being the suave ladies man, calmly folded the hair fringe over his bald spot without missing a beat in the conversation and winked at us coyly.
It was much easier for my Grandfather to cover up that shiny bald head of his than for us to cover up what’s happening with mortgages right now. In Calabasas, CA where the average home sold for $1,260,000 last month we have a different sort of problem than the media is whining about right now. First some background. I did a little research to see exactly how much of this foreclosure hype is actually affecting our city. I pulled all of the Notice of Defaults filed in Calabasas. As of August 12, there were only ten. A notice of default is usually filed when a homeowner has missed more than two mortgage payments. Most of the time, the mortgage is brought current or the home is sold and the house never goes in to foreclosure. There are only three homes in actual foreclosure in Calabasas as I write this article, two of them are condos and one is a $3,750,000 home.
The foreclosure problems that are plaguing the rest of the country and CA don’t see to be affecting us right now. But we’re not exempt, Calabasas has its own problems when it comes to the mortgage situation. Since our average home price is so high, buyers generally end up applying for stated or no doc loans. Consider that it takes $300,000 of income with 20% down to qualify for a $1,500,000 purchase price. That means you need to have 20% or $450,000 down plus closing costs (approximately 3%). Believe it or not, most people don’t have a problem with the down payment because most buyers in this price range are move up. This means they’re selling a house to buy a larger house and they have the equity from their old home. The real problem is qualifying for the mortgage now that the mortgage qualification parameters have changed. Just a few months ago a buyer with good credit and 20% down would get approved for a mortgage with no tax returns or pay stubs with no problem. My experience has been that people in this income bracket may not always be able to document their income or may not want to provide tax returns especially when they’re self employed.
The mortgage credit crunch poses new problems for both sellers and buyers in Calabasas because of these stricter underwriting guidelines. The interest rates are still at a historical low but available mortgage products are now the issue. Here are some tips regarding mortgages to consider if you are contemplating buying or selling a house in Calabasas now.
If you are selling your home.
1. Work with your Realtor to determine who your target buyer is and what sort of income they will need to purchase your home.
2. Offer incentives targeted directly to this type of buyer that would make qualifying for a mortgage easier.
3. Make sure that your Realtor has a good relationship with a lender that can assist in making your home affordable using today’s mortgage products.
4. Its important to remember that buyers buy a monthly mortgage payment. It’s vital that you know what this payment is when your home marketing plan is developed.
If you are buying a home.
1. Make sure that you meet with a reputable lender before you start looking for a home. It’s important that you have your credit report and all necessary documentation checked before shopping so you know exactly which mortgage product will fit.
2. Please don’t choose your lender randomly. Now more than ever, it’s imperative that you work with a lender that has a track record and is reputable. You Realtor should be able to provide you with personal references of several lenders that they have worked with in the past.
3. Make sure that you hire a Realtor that is very experienced in a buyer’s market. There are several things that can be written in to a purchase agreement that will protect your down payment should mortgage issues arise during the transaction. Stay tuned for my upcoming podcast about the CA purchase agreement and how to use it to your advantage in a buyers market.
I work primarily with home buyers and sellers in Calabasas CA and understand the unique challenges that our micro climate has. I see the two major problems with marketing a home in Calabasas right now, as the media hype and the loss of some no documentation mortgage products.
There is always more than one way to skin a cat. With over 20 years of experience in the real estate industry I look forward to helping you solve your real estate challenges. Please call or email me to discuss your specific needs.
| Discussion: No Comments »
A Picture is Worth 1000 Words…What’s a Video Worth?
August 28th, 2007 Categories: Home Selling in Calabasas, In The News Calabasas
If this is how I market myself, can you imagine how I’d market your home? I use video to market all of my Calabasas listings. That’s right, every single home that I list gets a full motion video including music, voice overs and me pointing out the highlights of your home. Plus a neighborhood story is added to the beginning of each video to emphasize the wonderful Calabasas lifestyle.
People buy homes with emotion and justify with logic. Nothing captures emotion like video. Your open house video is uploaded to several websites including YouTube, Google Video, Realtor.com and more. Eighty percent of homebuyers start their home search online. Video is the best way to capture and keep their attention.
To see a sample of one of my online video tours check out my website. But before you do that, watch this video to see what else I do to market your home.
| Discussion: 1 Comment »
Before You Make Any Home Improvments - Consult Your Realtor
August 21st, 2007 Categories: In The News Calabasas
I cringe when I have to tell a seller that they will see little return on the money they’ve spent in remodeling their home. Upgrades must be appropriate for the style and price range of the neighborhood or they could actually detract from the value and salability of the home.
This morning I was in the Woodland Hills Home Depot and ran into a couple that I had sold a home to several years ago. I was so glad to see them but when I looked at their shopping cart full of stuff, I asked them what they were doing. They laughed and said they were doing the home improvement thing. I asked them if they still planned to move when their children got to middle school. They said yes which surprised me when I saw what was in their cart.
I explained that it’s great to make improvements that you’ll be able to enjoy for the next few years, but since they’d be moving in less than five it might be a good idea to make sure that the return on the investment made sense. I then offered to go over their remodeling plans with them to make sure that they’d reap the financial benefit when it was time to see their home.
Think about this the next time you decided to remodel or add to you home. Some upgrades will actually add to the value of the home and you’ll see the return when you sell, other projects that don’t fit the price range or neighborhood won’t affect your sale price at all.
The next time you decide to spend money on upgrading or adding features to your home, you may want to call me to determine if it truly makes sense. It’s important to keep in mind your goals and your moving plans.
| Discussion: No Comments »
July 2007 Real Estate Sales Statistics for Calabasas
August 12th, 2007 Categories: In The News Calabasas
| July 2005 |
July 2006 |
July 2007 |
# Change from 2006 |
% Change from 2006 |
|
| Closed Escrows | 49 | 34 | 27 | -7 | -20.59% |
| Avg. Sale Price | 1,167,006 | 1,264,676 | 1,131,801 | -132,875 | -10.50% |