Have you ever lost something in your home or office, spent hours looking for it and then realized it was right under your nose (in your pocket) the whole time? Not only have I hunted the world over for my phone, just to realize I’d been talking on it the whole time, but I’ve also found a number of lost items in overlooked places, not the least of which included locating my boot in the dogs’ bed—under a dog!
There’s something equal parts exasperating and hilarious about finding something you’ve been desperately seeking, right under your nose. But there’s nothing funny about overlooking the sellers whose listings could top off your 2013 success. continue reading
Leads come in all shapes, sizes, and quality. According to many of the pros we talk to, listing data quality greatly affects lead quality. Once a lead has been properly vetted, the focus becomes meeting their expectations with minimal hassle. In this age of “satisfy-me-now” Generation Y’ers and Millenials, Trulia has taken the first of many steps to address the fresh data opportunity.
When it comes to converting an online lead into a new client, the time you take to respond matters—a lot. In fact, according to a 2013 report from Leads360, responding within a few minutes doubles the chance of converting that lead into a client. What’s more, in a recent study, we found that if an agent responds to a lead within 5 minutes, they’re 100 times more likely to make contact with that lead than if responding in an hour. Impressive, right?
That’s why our new and improved Trulia for Agents Mobile App puts your leads front and center—wherever you are. When a lead comes in, you’ll receive a notification on your mobile phone, allowing you to respond immediately and convert more leads. All your Trulia leads are centralized into one inbox, so that you can seamlessly search, prioritize and respond to leads in one place. Leads are also organized by conversation, providing context and easier access to a history of communication.
The 2013 Q3 Census Homeownership and Vacancy survey shows that the vacancy rate is still above its pre-bubble level and remains unchanged from one year earlier. This might come as a surprise to house hunters, who have struggled with limited inventory when trying to find a home to buy or rent, but an unusually high share of vacant homes today is being held off the market. The elevated vacancy rate discourages new construction activity and is therefore one of the major hurdles to a full housing recovery.
To understand why vacancies are still widespread and what impact they have, we dug deeper into the Census data as well as other data sources that report vacancies at the metro level. Here’s what we found. continue reading
The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do. With that, here’s the scoop on where prices and rents are headed.
Asking Prices Rise 0.6% in October, Slowing but Still Big Gains
Asking home prices increased 0.6% month-over-month in October. That’s the second-slowest monthly gain in seven months. However, even though prices are slowing down compared to earlier this year, the monthly, quarterly, and yearly gains are all high compared with historical norms. In fact, the 11.7% year-over-year increase is the highest since the housing bubble burst. Why this big increase? Asking prices are rising quickly because buying still looks cheap relative to renting – and also because inventory remains tight, even though it has increased since January. continue reading
We’re sharing our favorite spots to eat, drink and be merry to make your San Francisco experience even more enjoyable.
The 2013 REALTORS® Conference and Expo is about to begin and we are thrilled to welcome real estate agents and brokers from across the country to our hometown! The spirit of San Francisco is deeply ingrained into who we are and we can’t wait to share it with you.
Our offices are located just one block from Moscone Center so we compiled a list of some of our favorite places to grab a bite, indulge in a drink, or spend some time relaxing and enjoying the scenery. Some of our tips are classic don’t-miss spots – like Waterbar where you can dine on fresh oysters while you take in an unmatched view of the Bay Bridge. Others are trendier spots that we can’t get enough of – like Blue Bottle Coffee where the brew is strong and well worth the wait.
Download the Inside Scoop San Francisco and start planning your trip today. We’ll be posting our updates and special events throughout the week or you can always visit us at booth #719. See you at the show!
Download the Mobile or Printed Version for easy access throughout the conference.
We’ve all had them. You might have one now. That seller who takes your comps, cross-references them on Trulia, adds in seven more, and builds out a spreadsheet—complete with formulas—then wants you to get them into each of the properties so she can point out the comps’ outdated paint colors, inferior appliance brands or other reasons she thinks she should get double the price for her home. The buyer who sees 45 houses before deciding they want a condo, then sees 50 of those before revealing that his palm-reader and rabbit jointly hold final decision-making power.
Okay, I might be exaggerating the factual scenarios (a tad). But in the life of an agent, three things are inevitable: death, taxes and high-maintenance clients. Some are both high-maintenance and unreasonable, and these folks can become a massive hemorrhage of time, gas and energy. It’s also demotivating and frustrating to work with high maintenance clients who are beyond pleasing.
Which amenities can luxury homebuyers expect to find in today’s market? For our latest Real Estate Lab report, we combed through two years’ worth of luxury listings to see which words and phrases are trending up and down. We defined luxury listings as homes for sale that are priced at least four times above the median asking price for a given metro area: that means a million-dollar home in Rochester, NY, is a luxury listing, while a million-dollar home in San Francisco is not. We compared luxury homes listed between July 1, 2012, and June 30, 2013, with those listed in the previous year, between July 1, 2011, and June 30, 2012.
Have you ever said something in the heat of the moment, then wished for weeks later you could reel those words back in? The truth is, all of us commit emotion-driven mistakes in some areas of our lives. But when it comes to selling their homes (read: cashing out their most valuable assets) the stakes are simply too, too high to allow your sellers and their transactions to fall prey to predictable emotional pitfalls.
Fortunately, when it comes to emotion, what’s predictable is avoidable. Over the years, I’ve found that sellers can and often will check themselves before they wreck themselves if you can help them predict the specific emotions they are likely to experience at various points in their transactions.
Although residential construction jobs are outpacing overall job growth, construction job gains have been slow. Worse, the job market isn’t improving in the areas where it would most help housing demand: among young adults, and in clobbered metros.
Each month, we look at three measures in the monthly jobs report to see whether housing is helping jobs and whether jobs are helping housing. Residential construction employment shows whether housing is helping jobs. Job growth for young adults (key age group for household formation) and job growth in “clobbered metros” (those hit hardest in the housing bust) show whether jobs are helping housing.