Real Estate Sifter

RISMEDIA, July 29, 2010—Property owners prepared with research and information can save thousands of dollars on their property taxes. Following the simple steps outlined by Barry Sharpe, President of South Florida-based Property Tax Appeal Group (P-Tag), one can help property owners keep money in their pockets and assess property values on target.

Once a property owner has received his estimated property taxes in the mail and determined that the property has been unfairly evaluated, the first step is to file a petition with the local government to appeal the estimated taxes. Being educated about appeal deadlines is essential because more often than not, the window for appeals is short. For example, in Florida, all appeals must be filed within 25 days of mailing of the notices of proposed taxes for the year. Since this is one of the shortest statutes of limitations, Florida property taxpayers are advised to not procrastinate in filing their appeals so they don’t miss out on savings.

The next step is to look at your property with a critical eye. Leave your personal connection to the property at the door and pretend you are a potential buyer looking for reasons not to buy the property. Walk inside and outside taking notes about flaws on the property or things that don’t look right. For example, while you might be okay with a roof that has a small leak or is missing some roof shingles, those are problems that a potential buyer would cite as reasons for a sale price reduction. Keep in mind that the goal of this exercise is to identify reasons why your property is worth less than what your government claims it is worth—thus, it is in your best interest to be thorough and honest about weaknesses in your property.

Once you have compiled your list of flaws, the next step is to do the research. Go down your list of flaws, call and obtain free, written repair estimates for each of the problems you find at your property. Under the theory of “Deferred Maintenance,” even if you don’t do the repair, you can still use the estimates as evidence why your property’s value should again be reduced the next year you file for another appeal.

The County uses a mass appraisal approach to determine the value of a property and the actual condition of the property is one of the factors that come into play. However, often times, due to lack of funding or manpower, the County is unable to inspect each property. Therefore, doing your own research in identifying property challenges can be used to the property owners advantage when it comes to arguing for reductions in taxes.

Another way to argue for reductions in your taxes is to accurately convey the amount of crime that takes place in your neighborhood. Contact your local police department and ask for a “Crime Grid” within a certain radius from your property. This added information can sometimes be persuasive as to why your property should be worth less than properties in safer communities.

The final step is to educate yourself about how the appeals process works. Find out where and when the property tax appeal hearings are held. Attend, watch and learn how they are conducted and you might learn some additional methods on how to reduce your property taxes.

Barry Sharpe is president of South Florida-based Property Tax Appeal Group, LLC (PTAG). Visit them online at http://www.ptagflorida.com/

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, July 29, 2010—After getting the keys to their new homes, many first-time home buyers are excited about finally having the opportunity to personalize and furnish their new house. From coffee tables to lamps to lawnmowers, many previous renters leap into homeownership quickly realizing they need to do a lot of shopping to truly make their house a home.

“Whether you’ve been living in an apartment with roommates or at your parents’ house, many first-time home buyers do not think about all the items they need – and want – when moving into a house,” said Janice Jones, national vice president of merchandising for Centex. “With a little advance planning and budgeting, you won’t break the bank to make your new home a reflection of your personal style and showcase your pride of homeownership.”

A typical home buyer spends $7,400 on average on their home, with more than half of that spent in the first year after purchase, according to the National Association of Home Builders.

While many first-time home buyers may not have accounted for this level of spending, Jones offers advice on what types of items to purchase to not only properly maintain and live in the home, but also more importantly, items that help new homeowners feel like their house is a place to call home.

Furnishings
Many first-time home buyers no longer want their parents’ hand-me downs or their childhood bedroom set. From sofas to dining room sets to mattresses, many first-time home buyers take the opportunity to upgrade their furniture when moving into their new home. According to an NAHB study, furnishings take the biggest chunk of the budget, with home buyers spending about $5,300 on furnishings during the first year after buying a home. The biggest ticket item for all households is bedroom furnishings, including mattresses, followed by sofas.

Window coverings and linens
The median square footage of homes bought by first-time buyers is 1,500. So, you can only imagine the number of windows that need to be covered to ensure privacy and security in a home. According to Jones, many home buyers don’t account for this in their budget. Additionally, with the ability to now paint and decorate each room, new homeowners find that they want to purchase new bedroom and bathroom linens.

Garden tools
Since a first-time home buyer is likely to move into their home from an apartment, unless you plan on hiring a gardener, you’ll need to purchase a few basic gardening tools, including a lawnmower, garden hose, sprinkler and a shovel (for winter weather).

Flat screen TV
Let’s face it: many home buyers shop for their new home while taking into a consideration how a new, large, flat-screen television set will be situated in their new living space. So, it’s not a surprise that a hot item on the list is purchasing an entertainment system.

However, you’ll also need the basic appliances in your new home: a refrigerator, stove, and a washer/dryer. While many existing homes usually come with appliances, a home buyer needs to take inventory as to whether or not they will need to purchase these big ticket items before they purchase their new bedroom set.

Basic tool kit
Every home needs a well-stocked tool box. Many home improvement stores have sets you can purchase, but make sure it includes a hammer, screw drivers, pliers, wrenches, a tape measure and a staple gun.

“My biggest piece of advice for new home buyers is to be creative and tackle this room by room,” said Jones. “For example, after outfitting your home with the necessary items—like appliances and window coverings—move on to the kitchen and family room spaces. This area is the heart of your home where everyone gathers.

“Look for great values on the items you need that will be utilized most. Take your time and get the feel of how you want to use each space for both function and enjoyment. This strategy allows homeowners to stage their purchases and add new furnishings as the budget allows. Decorating your new home should be fun and a reflection of your personal style.”

For more information, visit www.centex.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, July 28, 2010—The van line community lost a lot of drivers during the economic downturn, and that is creating a backlog this summer as van lines are unable to keep up with demand. In some cases, families are being put on wait lists for up to two months. That can be a pretty stressful situation…especially if a deal can fall through because the homeowners weren’t able to vacate by close date.

To ensure homeowners have a stress-free move and you have a stress-free closing, here is some advice:

Get quotes now. Know options so clients are ready to book when they receive an offer.
Set a date. Schedule with chosen van line as soon as possible.
Be prepared. See the tips below to get ahead of the game and tie up loose ends.

Create a Household Inventory
One of the great benefits when planning a move is the opportunity it provides to take stock of the items you have acquired over the years.

This can be done by creating a household inventory—a detailed descriptive list of household goods showing the number and condition of each item.

In addition to ensuring all belongings arrive at their destination, the inventory list is invaluable in the event of natural disasters, fire or theft.

An up-to-date, accurate record of all important documents and household goods goes a long way to providing peace of mind on moving day—and beyond.

Important Documents
Get all critical documents together and have copies made. Keep all original documents with you throughout the move, including:

-Birth Certificates
-Marriage Licenses
-Social Security Cards
-Insurance Policies & Wills
-Deeds & Titles
-Stock & Bonds Certificates
-Household inventory list

Record Belongings
Make a record of your belongings. Use a video camera and a digital camera to create an accurate visual record of goods and their condition.

-Record the total amount paid for an item and where it was purchased (this is where saving receipts comes in handy).
-Record serial numbers and brand names for all electronics.
-Record any distinct features regarding the items being recorded.
-Record expensive pieces of clothing, kitchen items, tools and anything else of value.
-Make copies of your inventory list when completed. And, give copies to your insurance agent.

This inventory can be used in the event of a fire or other disaster. Serial numbers, values, where they were purchased and photos of said items can help you in the event of a recovery need.

Save a copy in a secure location online, or give to a friend or relative in case you lose the original.

Be sure to keep the originals with you on moving day with your other important papers.

And Don’t Forget Houseplants
Decide what you want to do with houseplants. You can either move them yourself (look into rules and regulations regarding transport of houseplants across state lines first), or you can give them as gifts to friends or family.

Pets
Take your pets to the vet and make sure all of their shots are up-to-date. Carry all appropriate documentation with you and your pets on move day. Ensure that rabies tags are attached to your pet’s collars along with contact information in the event your pet gets away from you in unfamiliar surroundings.

Retrieve & Return
Retrieve your items from the cleaners and from storage. Return all library books and rented movies.

Return items you have borrowed and collect items that have been borrowed. Get items from safety deposit boxes and close accounts and arrange for new accounts at your destination.

With a little advanced planning, a family relocation can be a fun adventure for the parents, kids and their Realtor.

For more tips and checklists on moving, visit www.moveadvocate.com/tips, or call 800-617-1918 and ask to speak with a move advocate.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, July 28, 2010—This week’s headlines from the NATIONAL ASSOCIATION OF REALTORS® include: free tips on successful client prospecting through NAR’s Right Tools, Right Now initiative; REALTOR Benefits® Program Partner HP is offering REALTORS® an exclusive deal on HP Virtual Rooms; and existing-home sales slow in June but remain above year-ago levels.

Right Tools, Right Now – No Cost Tips on Successful Client Prospecting
View a FREE Right Tools, Right Now video clip on REALTOR® TV showing how Phoenix practitioner Anna “Banana” Kruchten, CRS, CRB, GRI, has a knack for using unique strategies to land new clients. Learn these tips and more for FREE at www.REALTOR.org/RightTools through the end of 2010.

Meet Face-To-Face Live From Your PC with HP Virtual Rooms
REALTOR Benefits® Program Partner, HP is offering REALTORS® an exclusive deal on HP Virtual Rooms, a 20% discount off an annual license. HP Virtual Rooms allows you to exchange ideas one-on-one, meet with small teams, conduct presentations and participate in training classes, all while reducing your employees’ overall carbon emissions by replacing travel with virtual collaboration techniques. For details on this offer and free U.S. shipping, visit http://realtors.org/realtor_benefits/benefits_partners/_hewlett_packard/hewlett_packard?wt.mc_id=HP0001.

Existing-Home Sales Slow in June but Remain Above Year-Ago Levels
With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the NATIONAL ASSOCIATION OF REALTORS®.

For more information, visit www.REALTOR.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

To see last week’s NAR Pulse, click here.

RISMEDIA, July 28, 2010—One of the most difficult challenges in selling is to compete against a competitor who is willing to cut cost. Businesses are free to compete on price, service or quality, and consumers are free to make buying decisions on these criteria. But competing on price will only cost you profit. Why do some companies offer discounts? Well first of all, it’s a way to buy market share, kind of like a loss leader in retail. They treat the loss as a way to gain customers. The problem is that if they ever want to raise their fee and make a profit, it will be very difficult to do so. They may get more market share…but not more profit. Both you and your company are sometimes tempted to cut a fee to get one more listing or one more percentage market share; only you can answer, is it worth it?

According to David Knox Productions, there are three fundamental responses to price competition, you can:

-Match their price,
-Differentiate yourself through value-added selling or,
-“Let Go” of the business

Matching price is painful and there will always be competitors who are at a lower price. If you go down that path, you may be busier but have less profit. And you’ll never reach a point at which a competitor will undercut you. Resist the temptation to compete only on price. Remember, market share is for kids, profit is for adults.

Value added selling requires skill. If you were buying a Blu Ray player and found one for $139, another for $179 and a third for $249, you’d probably ask; “What’s the difference?” Your listing presentation must clearly contrast the difference in service and results over a lower fee competition.

To differentiate yourself, you must cite specific benefits that are worth more than the fee difference. Relate all of these to the sellers’ net because the net equity is more important than any specific cost.

Demonstrate to them that by paying more for better service, they will net more from the sale and will do it sooner. Present your sale-to-list ratio, percent expirations, days on market, average sale price, guarantees of service backed up with cancellation clause, target marketing proposal and/or unique service.

‘Letting Go’ of the Business.
As important as value is, it’s even more important to be at a position of strength and stand on principle. Dialog and value won’t help unless you simply decide to say “no” to commission cutting.

If a seller asked you to violate a Federal law as a condition of listing, would you do it? Of course not. Attach that same position of strength to your fee. Once you decide not to cut your fee, you will carry yourself differently. The owners will sense this strength. Instead of wimping out on fee, you will pause, smile and gently explain that you’ve made a choice to deliver higher value and results instead of a lower fee. From this day forward avoid reducing your fee.

The good news is you will never have a low commission listing again. The bad news is—you’ll lose some listings. Many agents feel they would rather have 80% of something than 100% of nothing; bad philosophy.

If you hold firm to your fee, you’ll probably lose 10-15% of the listings you attempt. If you cut your fee by only 1% on all your listings, you’ll lose 15-33% of your profit. (Divide your commission rate into 1 for the real percentage discount. Do the same math on the co-op sales and average it out). What you’ll discover is that a 1% reduction in your fee on 100 listings will require you to list about 20 more homes just to break even.

When a seller says to you, “Another company charges 1% less,” your mission is to sell a net gain that equals the difference.

Make sure commission is the only objection. Ask the seller: “Other than our fee, are you ready to list with me?”

Convert the commission objection to a net equity objection. “Why is our fee an issue?” (Because we need the money). “So the net equity is most important to you, right?” (Yes). Net equity is not only a function of expenses, but of income. Let’s take a look at the three factors of income to you: a) ability to have the home sold at all, b) final sale price as a percentage of list price, and c) time on market.

Now you must compare your statistics: a) expiration rate, b) list-to-sale price ratio, and c) average market time. If you excel against the competition in these categories, then you can offer better results.

Demonstrate that while your fee may be a bit higher, the net is also higher. “Mr. and Mrs. Seller, if the other company doesn’t sell your home at all, can’t negotiate a high sale price, or doesn’t sell it in a reasonable time, you end up losing money instead of gaining.”

Finally, ask the seller, “If our fees weren’t different, who would you hire?” Hopefully, they say “you!” Either way, ask why. Listen to their answer and if appropriate ask, “If you prefer us because of the additional benefits we offer, then wouldn’t you expect to pay more?”

If they don’t see a difference, then you have not established your value added benefit.

Sometimes you just have to let go of business. The sellers that cut your fee will usually be the most demanding, difficult and ungrateful. So treat radical price competition like a storm of locusts…you might just have to ride it out until they’re gone. Spend your time prospecting for good quality listings.

One of the ways to teach sellers the value of an agent is to send them the video titled “Selecting Your Real Estate Agent.” You may e-mail it for online viewing at www.RealEstateConsumerVideos.com. For a free trial, enter Promo Code: “ris.”

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, July 29, 2010—(MCT)—Consumer confidence fell in July 2010 on concerns about jobs and business conditions, following a sharp decline in June, the Conference Board recently reported.

July’s consumer confidence index fell to 50.4—the lowest level since February 2010—from an upwardly revised 54.3 in June.

“Concerns about business conditions and the labor market are casting a dark cloud over consumers that is not likely to lift until the job market improves,” said Lynn Franco, director of the Conference Board’s consumer research center, in a statement.

“Given consumers’ heightened level of anxiety, along with their pessimistic income outlook and lackluster job growth, retailers are very likely to face a challenging back-to-school season.”

July’s confidence reading should be closer to 90 than 50, given how long the economy has been recovering, Dan Greenhaus, chief economic strategist with Miller Tabak, wrote in a research note.

“While July provides some measure of stability for this index following the exceptionally large drop in June, by any measure, consumer confidence remains extraordinarily depressed in comparison to previous readings,” Greenhaus wrote.

Consumers’ view of current conditions fell in July, as did their short-term outlook.

The present-situation index fell to 26.1 in July, the lowest level since March, from 26.8 in June. Those saying present business conditions are “bad” rose to 43.6% in July from 41% in June, while those saying jobs are “hard to get” rose to 45.8% from 43.5%.

The expectations index fell to 66.6 in July, hitting the lowest level since February, from 72.7 in June. Those expecting business conditions in six months to be “worse” rose to 15.7% in July from 13.9% in June. Those expecting more jobs fell to 14.3% from 16.2%, and those expected a decrease of income rose to 17.5% from 16.8%.

Buying plans have been affected, according to the Conference Board. Those with plans to buy a home within six months fell to 1.9% in July from 2% in June. However, those with plans to buy an automobile rose to 4.5% from 4.1%, and those planning to buy major appliances rose to 28.5% from 23.7%.

Earlier this month the government reported that nonfarm payrolls fell 125,000 in June, with weak private-sector hiring.

(c) 2010, MarketWatch.com Inc.

Distributed by McClatchy-Tribune Information Services.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, July 29, 2010—The Advertising Council, in partnership with the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD), announced the launch of a national public service advertising (PSA) campaign designed to encourage homeowners who are struggling with their monthly mortgage payments to learn about the Making Home Affordable Program.

While over one million homeowners have already received assistance from the program, the national campaign encourages other struggling homeowners who may be eligible for assistance to reach out for the help they need through free resources made available by the Federal Government. The PSAs direct homeowners to visit MakingHomeAffordable.gov or call 1-888-995-HOPE (4673) to see if they may be eligible for assistance to make their mortgage payments more affordable and to understand options they may have to avoid foreclosure.

Created pro bono by The Kaplan Thaler Group, a New York-based advertising agency, the new campaign is available in English and Spanish and features real homeowners from across the country who have benefited from the program.

“Even though the economy is getting stronger, many Americans are still facing the fear and uncertainty of losing their home to foreclosure,” said Treasury Secretary Tim Geithner. “The Administration’s loan modification programs have given more than a million responsible homeowners a chance to stay in their homes, and we want to do all we can to help make sure that struggling homeowners know about these free resources for help.”

“Many responsible borrowers continue to face challenges due to unemployment, negative equity or because of soaring utility payments,” said HUD Secretary Shaun Donovan. “These public service announcements will help us to reach at-risk borrowers now, while they are still current on their payments and eligible to receive help through the Making Home Affordable Program or our expanded options for Federal Housing Administration (FHA) refinancing.”

“We are proud to partner with the Treasury and HUD on this critical campaign to educate Americans about free resources available to help them prevent foreclosures,” said Peggy Conlon, President and CEO, the Ad Council. “We hope Americans who are struggling will be empowered by these compelling PSAs and take simple actions to help them stay in their homes.”

The Ad Council will distribute the new PSAs to more than 33,000 media outlets nationwide. The campaign includes television, radio, print, out of home and Web advertising. The PSAs will air in advertising space donated by the media.

The Making Home Affordable Program was launched in February 2009 to help homeowners who are at risk of foreclosure through no fault of their own make their monthly mortgage payments more affordable. Since then, more than 1.5 million homeowners have been offered help under the program, and almost 1.3 million homeowners have started a trial plan. Homeowners in permanent modifications under the program have a median monthly savings of over $500 each month or about one-third of their previous payment.

Any homeowner who is struggling with their mortgage is encouraged to visit MakingHomeAffordable.gov or call 1-888-995-HOPE (4673) to learn about options they may have and to speak with a HUD-approved housing counselor for free.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, July 29, 2010—The Obama Administration recently announced expanded opportunities for public engagement on the future of our nation’s housing finance system, including Fannie Mae and Freddie Mac. These events, which will include a major conference in Washington, D.C., will help provide critical public input as the Administration continues its work developing a comprehensive housing finance reform proposal for delivery to Congress by January 2011.

“The future of our housing finance system is critical not only to our economic recovery, but also to millions of American homeowners in every corner of our country,” said Treasury Secretary Tim Geithner. “Now is the time to build on the foundation we laid with the historic Wall Street Reform legislation President Obama signed recently and aggressively move forward to improve our nation’s housing finance system. The Obama Administration is committed to delivering a comprehensive reform proposal that protects taxpayers, institutes tough oversight, restores the long-term health of our housing market and strengthens our nation’s economic recovery.”

“The Obama Administration is committed to engaging stakeholders and the public as we consider proposals for reforming the housing finance system,” said U.S. Housing and Urban Development Secretary Shaun Donovan. “The need for reform is clear and we want to listen to a wide range of views as we chart a course to a more robust and stable housing market that works for the benefit of the American people.”

In the months ahead, the Administration will continue to gather input from a broad cross-section of stakeholders through a variety of events. On August 17, 2010, the Obama Administration will host a Conference on the Future of Housing Finance in Washington D.C. at the Treasury Department. This event will bring together leading academic experts, consumer and community organizations, industry groups, market participants and other stakeholders for an open discussion about housing finance reform.

The Obama Administration has already begun the work of developing proposals for reforming our nation’s system of housing finance. In early 2010, Secretaries Geithner and Donovan delivered testimony before Congress on the Obama Administration’s ongoing work in this area and the broad principles that would guide those efforts.

In April 2010, Treasury and HUD issued a set of questions for public comment on the future of the housing finance system, which received more than 300 responses from a broad cross-section of consumer groups, industry groups, market participants, members of the public, think tanks and other stakeholders. These responses will help provide additional input and perspective as the Obama Administration moves forward to develop its comprehensive reform proposal.

For more information, visit www.hud.gov.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, July 29, 2010—According to Nielsen, U.S. Mobile Web increased 4% in January 2010 from 67 million users to 69.6 million users. However, more important than how many people are using the Mobile Web is for how long they are using it. The average user session increased from 4 minutes, 57 seconds to 5 minutes, 14 seconds in January. It seems that the old adage—time flies when you’re having fun—holds true!

The increase in Mobile Web usage for longer periods of time is a direct result of content providers tailoring their sites specifically for the mobile device. For example, sites like Google and Facebook, two of the most popular mobile websites, have done a great job when it comes to streamlining and formatting their content and user experience for the mobile device. As the Mobile Web continues to evolve as the preeminent destination for Internet usage, making sure your brand is positioned properly for that medium is becoming increasingly important.

To ensure we stay ahead of the learning curve here at “Life in Mobile,” I thought it would be a good idea to look at the Top 5 things to consider when creating your mobile presence, a.k.a. your mobile website:

1. Make sure your mobile website is built for mobile delivery. Some companies will tell you they’ll build a mobile website that should work on some phones, and what you get is really just a small website. Mobile websites are officially their own entity. When built properly, and delivered properly, your mobile website will display perfectly on every mobile device.

2. Phone detection. With over 6,000 mobile Internet browsers for all of the Mobile Web-enabled handsets on the market today, it is important to make sure that your mobile site recognizes the particular handset model on the fly and formats the site accordingly. One of the ways to determine if your provider is truly able to do this is if they can provide you detailed mobile analytics.

3. Content conversion. Similar to phone detection, ensuring that your content, such as audio, video and pictures, is converted appropriately for all mobile devices is extremely important. Once the phone detection takes place, content can then be converted for viewing on that particular handset.

4. Understanding the mobile user. When creating your mobile website, think about what you would want to have access to on your phone. Mobile websites should be streamlined with regards to content and features for a friendly user experience. For example, in real estate, people will want an easy way to search for properties and contact you if they find one they like. In contrast, they may not need detailed area information at that point.

5. Drive traffic. Users should be able to access your mobile website by going to your existing URL. You have spent a lot of time building your brand and online presence and should continue to drive traffic there. Using a site with built-in phone detection will allow you to keep the same URL and send back the mobile version to users on a mobile browser—to them it’s just your website.

Furthermore, work with a company that provides other mobile services, such as SMS/text messaging programs, which can provide a good call to action to get people to text in and drive additional traffic to your mobile website.

The number of people and the time they’re spending on the Mobile Web is going to continue to increase. The quicker you transition your brand, the better off you’ll be.

Seth Kaplan is president of Mobile Real Estate ID.

For more information, visit www.mobilerealestateid.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

RISMEDIA, July 28, 2010—Data through May 2010, recently released by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, one of the leading measures of U.S. home prices, show that the annual growth rates in 15 of the 20 MSAs and the 10- and 20-City Composites improved in May compared to those reported for April 2010. The 10-City Composite is up 5.4% and the 20-City Composite is up 4.6% from where they were in May 2009. While 19 MSAs and both Composites reported positive monthly changes in May over April, only 12 of the MSAs and the two Composites saw better month-over-month growth rates in May than those reported in April.

The annual returns of the 10-City and 20-City Composite Home Price Indices show increases of 5.4% and 4.6%, respectively, in May 2010 compared to the same month last year. While still positive, Boston, Charlotte, Cleveland, Dallas and Denver reported weaker annual growth rates compared to their reports from last month. Seven of the 20 MSAs are still reporting negative annual growth rates with May’s data.

“While May’s report on its own looks somewhat positive, a broader look at home price levels over the past year still do not indicate that the housing market is in any form of sustained recovery,” says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s. “Since reaching its recent trough in April 2009, the housing market has really only stabilized at this lower level. The two Composites have improved between 5-6% since then, but this is no better than the improvement they had registered as of October 2009. The last seven months have basically been flat.”

“The May 2010 data for 15 of the 20 MSAs and the two Composites show an improvement in annual returns compared to April’s report. With the month-over-month data, while 19 of the 20 MSAs and the two Composites were positive, we are in a strong seasonal period for home prices, so that was largely expected. In addition, there may still be some residual impact from the home buyers’ tax credit, since they affect any purchase that closes through June 30, 2010. We need to watch where the housing markets will go after these temporary stimuli go away. June’s existing and new home sales and housing starts data do not show much real improvement in those statistics either. It still looks possible that the housing market might bounce along the bottom for the foreseeable future, before showing any real improvement that will filter through to the rest of the economy.”

As of May 2010, average home prices across the United States are back to the levels where they were in the autumn of 2003. Measured from June/July 2006 through May 2010, the peak-to-date figures for the 10-City Composite and 20-City Composite are -29.6% and -29.1%, respectively.

In May, Las Vegas posted a new index low as measured by the current housing cycle, where it peaked in August 2006. The peak-to-trough figure is -56.4%, with that market generally returning any gains it had posted since 2000. Detroit is the only market that is worse off. Its index is at levels last seen in late 1994, indicating that any appreciation in value during the past 15 years is now gone.

Nineteen of the 20 MSAs and both Composites showed month-over-month increases in May. The 10- and 20-City Composites were up 1.2% and 1.3%, respectively. San Diego continues to improve, with its 13th consecutive positive monthly increase. Miami and New York, the two markets that had declined in April, posted positive monthly changes in May 2010, increasing 0.9% and 0.8%, respectively. Las Vegas on the other hand, showed a drop in index level by 0.5% in May as compared to April 2010.

For more information, visit www.standardandpoors.com.

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