High-End Home Sales Soar throughout California

By RE INSIDER

While home sales throughout much of California have remained flat throughout this spring and early summer, a new study has indicated that multimillion dollar homes are selling in record numbers, offering hope that the market is still improving and prompting many to wonder what’s holding the rest of the market back.

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According to a recent study performed by San Diego-based DataQuick, $1 million-plus sales grew at a 9.1% clip statewide compared with last year, while sales overall fell 7.4%. Additionally, California in the second quarter set all-time records for the number of homes sold for more than $2 million, more than $3 million, more than $4 million and more than $5 million.

What’s driving these high-end home sales? According to market-watchers, there are several factors.

One is the hot technology sector in the Bay Area and some affluent parts of Southern California, which is minting new millionaires who can afford seven-figure homes. Another is the 11.6% price growth in California over the last year, which means a house worth $925,000 last summer may be worth $1.03 million today. And there’s the influx of international buyers, which is pushing up prices at the high end.

“It’s always fascinating to watch this part of the real estate market. It behaves differently, responds to its own set of criteria,” said DataQuick analyst Andrew LePage. “These buyers, especially those in the multi-million-dollar market, are less likely to agonize over credit scores, income and job security, down payments and mortgage interest rates.”

With this in mind, do you think this the market is improving as a whole? And considering that mortgage rates remain historically low, what do you believe is holding other buyers back?

READ MORE HERE

http://re-insider.com/2014/08/18/high-end-home-sales-soar-throughout-california/

The Making of Williamsburg Lane

“Country Life with City Conveniences”

In Case you missed our Bi-monthly Rolling Hills Newsletter, here is the article we posted on our front page, in continuation of our History of Rolling Hills we decided to make this month all about the street Williamsburg Lane, which has a lot of history & where we happen to have one of our listings for sale on Williamsburg Lane.  This street has so much charm & exquisite architecture that can still be seen today. The following is taken from the book  Rolling Hills: The Early Years by A.E. Hanson

“ Williamsburg Lane, Virginia was the outgrowth of a number of visits I made to the Eastern seacoast. As a landscape architect, I was fascinated by what the Rockefeller family was doing to restore the original old, southern-colonial city of Williamsburg, Virginia. At one time, Williamsburg was the State capitol of Virginia.

To an architect and to a landscape architect, Williamsburg is seventh heaven. It is living history, and I wish every American family with teen-aged children could have the opportunity to travel to Williamsburg and see how America really started.

 

In Williamsburg, Virginia I fell in love with the housing of the craftsmen, villagers, and shopkeepers who lived there prior to the American Revolution. The design of these homes was Georgian. They were very small cottages, and were fine in detail. I thought what fun it would be to do a whole lane in Rolling Hills patterned after the small houses of Williamsburg.

 Article Pic- Williamsburg

Homes on Williamsburg Lane, Rolling Hills were going for sale for under $9000, what a steal & great investment.

When I returned to Rolling Hills I couldn’t get that idea of my mind. What fun it would be to build a village lane with all the homes made of wood, painted white – and I knew I would like to live in any one of the homes that I had in mind.​​

 I contacted Paul Williams, (he had a particular talent in designing fine Georgian home for very wealthy clients) and suggested that he design an entire lane of homes for me – fourteen, to be exact. The land that I had chosen was just to the west of Acacia Road, on a ridge.

Financially, it was a very successful project, and anyone looking at the original advertisements shown in the counter book at the City Hall of Rolling Hills can see how great a bargain it turned out to be. One could buy an acre of land, a beautiful little house, landscaped with full-grown olive trees – all for $8,750.00. It was quite a bargain, and people bought them.”

PAGE 76.  Excerpt from, Rolling Hills: The Early Years by A.E. Hanson

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This photo shows the three original houses on Williamsburg Lane

2014 International Home Buying Activity

NAR has released their annual 2014 Profile of International Home Buying Activity and it shows a significant increase in sales to international buyers.  As the report states:

For the period April 2013 through March 2014, the total sales volume to international clients (“international sales”) has been estimated at approximately $92.2 billion, a 35 percent increase from the previous period’s level of $68.2 billion.

International Buyers

HOW MUCH ARE THEY SPENDING?

WHERE ARE THEY FROM?

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WHERE ARE THEY GOING?

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Their are many factors that go into how International Buyers decide which part of the U.S. they will move to. The Presence of relatives, friends and associates, job and education opportunities, and climate and location seem to be the most important. Europeans are more attracted to states with warmer climates such as Florida and Arizona. While the West Coast is attractive to Asian buyers.  Buyers in Mexico prefer states in close proximity such as Texas, Arizona, California. Florida appears to be more attractive to South Americans as well as Europeans and Canadians. Buyers from India are located in urbanized areas and states home to IT companies such as California, New York and North Carolina.

Million-dollar home sales hit seven-year high in California

LA TIMES | by Tim Logan

Sales of million-dollar-plus homes hit their highest level in seven years in the second quarter.

The number of homes that sold for $1 million or more in California hit a seven-year high in the second quarter, and sales north of $2 million reached a new record.

That’s according to new figures from San Diego-based DataQuick, which tracks local housing markets in the state. They found million-dollar-plus sales grew at a 9.1% clip statewide compared with last year, while sales overall fell 7.4%.

Several factors are driving the high-end liftoff, market-watchers say…

READ MORE HERE…

 

http://www.latimes.com/business/realestate/la-fi-million-dollar-homes-seven-year-high-20140731-story.html

Existing Home Sales Improve

The conflicts in Ukraine and the Middle East had little impact on markets this week, while the economic data was slightly stronger than expected overall. As a result, mortgage rates ended the week a little higher.

The housing data released this week contained mixed news. Fortunately, the good news came from Existing Home Sales, which cover roughly 90% of the housing market. June Existing Home Sales rose 3% from May to the highest level since October 2013, marking the third straight month of increases. Also, the inventory of existing homes for sale rose to the highest level since August 2012.

Less encouraging, June New Home Sales, accounting for the remaining 10% of the market, declined 8% from May, and the May results were revised sharply lower. These figures are frequently volatile from month to month. New homes inventories increased as well to the highest level since October 2011. To summarize, the bulk of the housing market showed continued improvement, and the tight supply of homes for sale in some markets may be showing signs of easing.

While Fed officials have recently downplayed the risk of higher inflation, many investors are not quite so certain. The inflation data released on Tuesday eased some concerns, but just slightly. The June Consumer Price Index (CPI), one of the most widely watched inflation indicators, increased at a 2.1% annual rate. Core CPI, which excludes the volatile food and energy components, was 1.9% higher than one year ago. With CPI holding steady close to the Fed’s stated target level of 2.0%, investors will be keeping an eye out for signs of rising inflation which could pressure the Fed to tighten monetary policy.

Next week, investors will be watching both geopolitical events around the world and major economic news in the US. The next Fed meeting will take place on Wednesday. The first reading for second quarter GDP, the broadest measure of economic growth, also will come out on Wednesday. The important monthlyEmployment report will be released on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Core PCE inflation, ISM Manufacturing, Pending Home Sales, and many other reports will round out a very busy week. In addition, there will be Treasury auctions on Monday, Tuesday, and Wednesday.

Zillow & Trulia Merger

LA TIMES | Tim Logan

The nation’s two biggest real estate listing websites announced Monday that they’re joining forces.

Zillow Inc. will buy Trulia for $3.5 billion in stock, the Seattle-based company said. The deal is expected to close in 2015.

While both popular websites will retain their names and separate sites, their merger will create a giant in the burgeoning business of online real estate listings. Zillow and San Francisco-based Trulia combined had 137 million unique visitors in June, the companies said, far more than their next largest competitor, National Assn. of Realtors-affiliated Move Inc.

The two sites, with their troves of searchable, mappable home listings and other data, have transformed the way Americans shop for homes, giving consumers the sort of information that was long the exclusive domain of agents and multiple listing services…

Read more here…     http://www.latimes.com/business/realestate/la-fi-zillow-to-buy-trulia-20140728-story.html

How To Attract & Retain Visitors on your website

Here are few points to help your website attract and retain visitors:

Visually pleasing, Ease of use

Ease of use is the top most criteria for a website to help consumers feel comfortable and less overwhelmed. This increases user stickiness and retention on the site.

Industry features

The new generation web users expect latest trend features and functions on the websites. Having dynamic and current design standards increases visitors’ activity and their willingness to interact with the website.

Intuitive navigation & pages

A well  planned and readable content over multiple pages with user friendly navigation increases both user and search engine activity on the site helping in longer time spent for easy conversion.

Online Testimonials, Video

People like to work with experts and businesses with success stories and happy customers. Rotating testimonials and client videos represent a trust level that helps in visitors’ decision making. Use them wherever possible.

Social friendly integration

Millions of consumers spend Billions of minutes on Social Media. If you want to attract the new generation customer, it’s inevitable to implement Social Media strategy into your website. Integrating a Blog, FacebookTwitterYouTube andLinkedIn not only increase the user interactions but also help in brand awareness.

Mobile friendly

Mobile phones are becoming the primary sources of online searches. As more consumers use their mobile phones to look for services, it is imperative to have a mobile friendly site. Make your website mobile friendly to connect with your customers seamlessly and increase conversions

Consistent brand message

Now a days, businesses have many Social Media profiles other than just the Website. Make sure to setup these pages with the same brand message across. The Logo, caption, brand colors, contact information and the brand promise has to remain consistent.

Your website could make a deal or break a deal. If your current website is not setup to attract leads, you might be losing major chunk of your new business and sales. Remember, your website is your best sales person forward 24×7. Make sure you put the best person forward to attract prospective customers and to create effective brand recognition.

 

Check out our website for ideas: http://www.inmanteam.com/