Tag Archives: Waccabuc Realtor

5 ways to exceed your ultrawealthy sellers’ expectations | Waccabuc Real Estate

You’re about to go on a listing appointment for a multimillion-dollar property. What expectations will the sellers have and how will you meet them?

Most luxury clients expect much more from their agent than just posting pretty pictures of their property on the MLS and on various online sites where you syndicate your listings. What will it take for you to win the listing and get it sold?

1. Move from closing the prospect to creating a unique customer experience

Luxury sales were once based on controlling the prospect and expertly telling them what to do. Closing is an essential part of any sales process. Today’s luxury clients are smarter, well researched and tech savvy. They expect to control the process. Your role first and foremost is to provide them with the specific information they will need to make the best decision regarding their sale or purchase.

Going beyond this minimum level of service will require you to do much more. Find out what matters to your client, and structure her customer experience around what matters to her.

For example, many ultrawealthy clients are collectors. If your client collects vintage dolls, spend an hour reading up on this topic. Then, if you are showing this client property, ask questions that focus on how well the rooms where the collectibles will be displayed fit the client’s needs. This type of detailed focus on your client’s personal interests will make you stand out from competitors and earn you plenty of referrals as well.

– See more at: http://www.inman.com/2013/07/01/5-ways-to-exceed-your-ultrawealthy-sellers-expectations/#sthash.OtEsf0hu.dpuf

 

5 ways to exceed your ultrawealthy sellers’ expectations | Inman News.

Luxury Summer Rentals: Is $1 Million the New Normal? | Waccabuc Real Estate

In the world of short-term rentals, it’s all about Memorial Day to Labor Day. Homes in popular vacation spots from Malibu to The Hamptons are emerging with rental prices from $100,000 to more than $1 million total for the summer.

While many associate these numbers with buying a home — not renting one for three months — these listings typically attract renters soon after they hit the market. For those who can afford it, they offer the chance to live in the lap of luxury — without having to think about a mortgage or resale value.

Here’s a look at a few high-end summer rentals currently on the market. Some are offered for a flat fee; others have a monthly rate for the 3-month peak vacation season. (You might have some negotiating power with Memorial Day behind us, but don’t expect to rent one of these pricey pads for less than six figures.)

Beverly Hills: $1.8 million ($600,000/mo.)

Beverly Hills, CA
Perched above the Beverly Hills Hotel at 1011 N Beverly Dr, Beverly Hills, CA 90210, the Beverly House was a for-sale listing asking $115 million before becoming a rental. Whether you’re in the market for a summer home or a year-long lease, the price remains $600,000 per month.

While its ornate architecture and furnishings are notable, the home is most-known for its celebrity history — from publishing magnate William Randolph Hearst, who was given the home by actress Marion Davies in 1946, to John and Jacqueline Kennedy, who spent time there during their honeymoon. The 3.7-acre compound has also served as a set for “The Godfather” and “The Bodyguard.”

Water Mill: $550,000 (flat fee)

Water Mill, NY
Located on Mecox Bay between Bridgehampton and Southampton, Water Mill, NY is an exclusive destination for the rich and famous (Jennifer Lopez just dropped $10 million on a 3-acre estate in the area).

Similar to the Beverly Hills listing above, this Water Mill home first hit the market as a for-sale listing in 2011. After several price changes, the home is now being marketed as a summer rental for a flat fee of $550,000 for Memorial Day through Labor Day. The house includes a master suite with a private terrace, 3 additional bedrooms, an oversized granite pool and spa.

Bridgehampton: $475,000 (flat fee)

Bridgehampton, NY
Bridgehampton is another coveted Hamptons locale, with Goldman Sachs CEO Lloyd Blankfein recently buying a house listed for $32.5 million. Last summer, Beyonce and Jay-Z escaped Manhattan with a Bridgehampton summer rental coined “The Sandcastle.”

Measuring 10,000 square feet, this Bridgehampton home has 7 bedrooms, 9.5 baths, a pool, movie theater, gym, 4 fireplaces and a wine cellar. Close to local shops, restaurants and the beach, it’s an ideal getaway during the summer months, and the price reflects this with a $475,000 flat fee from Memorial Day to Labor Day versus $150,000 for the winter.

Southampton: $395,000 (flat fee)

Southampton, NY
Live like Kate Spade with this Southampton summer home located on your own private pond. The property features 5,800 square feet of living space on 2 landscaped acres with a heated pool and tennis court. Located a block from the Hamptons waterfront, the estate also comes with deeded beach access.

If you’re looking for a longer-term rental, listing agent Nancy Hardy of Halstead Property says additional prices are available.

Malibu: $300,000 ($100,000/mo.)
Malibu, CA

Located behind Malibu Colony’s prestigious gated entrance at 23716 Malibu Colony Rd #28, this home is available only for the summer months, as the homeowners live there the rest of the year. For $100,000 a month, the Cape Cod-style beach house comes with a private deck right on the beach, 5 bedrooms, 5.5 baths and an attached gym.

Malibu is a popular second-home destination for the celebrity set flocking from nearby L.A. While some like to buy their own place, others including Usher and P. Diddy have gone the rental route.

 

Luxury Summer Rentals: Is $1 Million the New Normal? | Zillow Blog.

Tight inventory of Cape Cod mansions make prices soar | Waccabuc Real Estate

Brokers said many wealthy Cape Codders are trading up. Other buyers see the Cape as a strong investment, with bigger properties still selling at a 20% to 50% discount to the Hamptons in New York.

CNBC has learned that billionaire William Koch—the sailor, wine-collector and brother of famed conservatives David and Charles—is putting his historic compound on the private island of Oyster Harbors up for sale.Robert Paul Properties, an affiliate of Luxury Portfolio International, is about to list the property for $15 million.

Koch is selling after he purchased a nearby estate previously owned by Rachel “Bunny” Melon for $19.5 million, according to reports.

The top listing in Martha’s Vineyard, the Obamas’ favorite summer retreat, is a property called Herring Creek Farm, a 25-acre estate on the market for $19.5 million. The farm sits on a private corner of land off Slough Cove. Located on the southeast part of the island, the property features sweeping views of Edgartown Great Pond and the Atlantic, writes CNBC.

 

Tight inventory of Cape Cod mansions make prices soar | HousingWire.

Home resales rise to three-and-half year high; prices jump | Waccabuc Real Estate

Home resales rose in May to the highest level in 3-1/2 years and prices jumped, a sign the housing sector recovery is gathering steam and could give the economy a significant boost this year.

The National Association of Realtors said on Thursday that existing home sales advanced 4.2 percent to an annual rate of 5.18 million units, the highest level since November 2009 when a home-buyer tax credit was expiring.

“Whatever inventory is coming onto the market, buyers are ready to snap it up,” said Lawrence Yun, an economist at the NAR.

The increase beat expectations for a rise to a 5 million-unit rate last month.

The housing market is one of the brightest spots in America’s economyand is helping counter Washington’s decision to raise tax rates and cut government spending this year.

A very accommodative monetary policy by the Federal Reserve, which has held mortgage rates near record lows, is helping to lift the housing marketoff the floor. Fed Chairman Ben Bernanke, however, gave clear signals on Wednesday that the Fed was on track to start dialing back its stimulus by the end of this year.

In May, the median home sales price increased a whopping 15.4 percent from a year ago to $208,000. That was the biggest year-over-year increase since 2005 and left prices at their highest level since July 2008.

“Prices have recovered quite suddenly and quite spectacularly,” Yun said.

With prices rising, more sellers put their properties on the market, lifting the inventory of unsold homes on the market 3.3 percent from April to 2.22 million.

 

Still, the stock of homes for sale continues to be tight in the market. The May level of inventories represented just 5.1 months’ supply at May’s sales pace, down from 5.2 in April. Many economists consider 6.0 months to be a healthy balance between supply and demand.

 

Home resales rise to three-and-half year high; prices jump | Reuters.

Actor Tom Hanks and wife sell home for $5.225 million | Waccabuc Real Estate

Purchased by the A-list duo for $1.9 million when they were first married in 1988, the home has 4 bedrooms, 5.5 bathrooms and 6,289 square feet. The gorgeous but rather boring and monochromatic house has large living spaces, a library and even a private beauty salon, according to Trulia.

The couple’s other property holdings include yet another Pacific Palisades mansion they picked up in January 2010 for $1.45 million and a beachfront Malibu Colony spread they’ve owned since the early 1990′s, Trulia ($30.57 0%) reports.

To see photos of the house, click here.

 

Actor Tom Hanks and wife sell home for $5.225 million | HousingWire.

How to build a better real estate website | Waccabuc Realtor

In a perfect world, building a real estate website would be a seamless experience: fast, easy and cheap. You would just push a button and customers would start lining up at your door.

If it were only that simple.

Really beautiful and profitable real estate websites are hard to come by. If you want some examples, take a look at a recent post on the Top 25 Beautiful Websites in Real Estate. Sadly, many of those sites are ones that we’ve already seen.

Building a website in this industry has been more like participating in an episode of “Fear Factor.” If you’re not careful, your site can become a financial drain and set your online marketing up for imminent failure. But crafty real estate professionals are starting to learn from the rest of the startup world, using clever ways and new technology to spin up and market their websites without breaking the bank. They’re taking advantage of low-cost and free tools combined with creative marketing strategies to dominate online.

Take a look at the infographic below and see where you can step up your website game. Let me know what’s working for you in the comments below.

– See more at: http://www.inman.com/next/how-to-build-a-better-real-estate-website-infographic/#sthash.wC7Sdq5D.dpuf

 

How to build a better real estate website [infographic] | Inman News.

Shooting quality real estate video on the go with your smartphone | Waccabuc Real Estate

Video seems to be one of the most difficult mediums for real estate pros to master. While it’s probably also the most effective way to present unique, high-quality content online, the technological barriers and time constraints required to regularly shoot and edit video have always stopped busy real estate pros from taking up the task in earnest.

The value of video to a real estate company or agent with an online brand should be clear

This may be the one format where an individual in a single location is actually more powerful than a national or global company. A portal website with millions of dollars in investor backing can always create bigger websites, more complex graphs, and more in-depth statistical analysis of a neighborhood’s real estate market. “Big data” is clearly the realm of the big portals. What their servers, programmers and salespeople can’t do is walk through your neighborhood, highlight the most important places and sights in your community, and effectively speak to the importance of those locations to local homeowners. A single agent can shoot a video explaining the significance of a new farmers market to traffic and parking in a certain development, and why one neighborhood’s school board seems to be favoring Montessori education while another is trending toward Waldorf. Big data can’t do that.

Recent technology upgrades have made the process of creating quality real estate videos much simpler for busy professionals. While there are certainly instances where a professional video shoot with high-end equipment and editing is appropriate, there are also many instances where a quick, good-quality video will suffice to get informational content out to potential clients on the Web. Since virtually every agent today uses a smartphone, it becomes an easily accessible tool to save time creating quick videos of neighborhoods, tips and educations for clients, testimonials and listings, where appropriate. Video on smartphones has been upgraded radically in the past two years.  Shooting HD video is available on nearly every new smartphone available.

Drawbacks to smartphone videos

The most obvious is the stabilization of the video. A user’s shaky hand is very easy to pick up on a smartphone video. There have been some big advancements in this arena, however, and to effectively shoot stable videos, one of the newest smartphones is necessary. The iPhone 5 has significant stabilization software onboard, which reduces much of the shakiness. The newest Android and Windows phones have developed similar software.

– See more at: http://www.inman.com/next/shooting-quality-real-estate-video-on-the-go-with-your-smartphone/#sthash.P8Ut433L.dpuf

 

Shooting quality real estate video on the go with your smartphone | Inman News.

Monday Morning Cup of Coffee: Mixed reactions on Florida foreclosure bill | Waccabuc Real Estate

Monday Morning Cup of Coffee is a quick look at the news coming across the HousingWire weekend desk, with more coverage to come on bigger issues.

Almost inevitably, perhaps, reaction to the bill signed in Florida by the state’s governor to speed up foreclosures has been mixed. Or so says a piece in The Tampa Tribune.

Gov. Rick Scott signed the bill that expedites the default process on Friday. While some see it as a boon for the consumer and the foreclosure-laden state, others are viewing it as a more efficient means for banks to snatch away people’s homes, the newspaper reports.

It’s one of a few pieces of housing-related legislation becoming law in the Sunshine State. For example, under a new landlord-tenant bill, the article states a tenant could pay partial rent and still be evicted within days if they fail to turn over the rest of the money.

The Wall Street Journal breaks down the housing recovery in a bulls-versus-bears feature article. Reporter Nick Timiraos gets his hands on a research paper by Joshua Rosner, managing director of Graham Fisher & Co. in order to help lay out the bears side of things.

Ivy Zelman of advisory firm Zelman & Associates gives the bulls case.

“If you were waiting for homeownership rates to improve, you would have missed the housing recovery,” says Zelman. “It’s all about occupancy and shelter.”

 

Monday Morning Cup of Coffee: Mixed reactions on Florida foreclosure bill | HousingWire.

Home price growth projected to exceed 7% in 2013 | Waccabuc Homes

Home prices could grow as high as 7.2% in 2013, JPMorgan Chase concluded in a new report.

 

Analysts with the bank claim prices are posting historically strong gains as the market moves into the more active summer season.

 

With high investor demand contributing to booming home prices as well as growth in prices of lower-tiered units posting stronger gains than higher-tiered units in major metropolitans, JPMorgan ($54.27 0.77%) is confident in its 7.2% growth projections.

 

Furthermore, the banking giant has revised its projections to 3.9% in 2014 and 3.2% in 2015, with surprises likely to be on the upside.

 

“Despite the lack of data for investor demand, we saw all-cash sales remain higher than 30% of housing sales,” analysts at JPMorgan ($54.27 0.77%) said.

 

Home price growth projected to exceed 7% in 2013 | HousingWire.

Rent from Steven Spielberg for a mere $125,000 a month | Waccabuc Real Estate

Sure, it sounds like a lot of money to spend every 30 days on just 1.08 acres, but the spread, which includes 130 feet of beach frontage, a massage room, and a screening room (and, let’s face it, Spielberg has been known to go hog wild with his screening rooms), looks like a downright bargain compared to the houses down the block, writes AOL Real Estate.

 

Rent from Steven Spielberg for a mere $125,000 a month | HousingWire.