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NYC Coop Sales Price Now Public Information
It's an old axiom that, despite increasing numbers of condos, coops still account for around 80% of NYC's apartment inventory. Yet, until recently, the sales figures were shrowded in mystery. No more. A recently passed law allows access to these figures through use of the City's ACRIS system. While the link may not be up for long, you can find a pdf guide to how the system works at NYC.gov/html/dof/html/jump/acris.shtm.
Noah's Ark 2006
In the year 2006, the Lord came unto Noah, who was now living in the United States, and said, "Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me. Build another Ark and save 2 of every living thing along with a Few good humans." He gave Noah the blueprints, saying, "You have 6 months to build the Ark before I will start the unending rain for 40 days and 40 nights." Six months later, the Lord looked down and...
Commercial Rent Prices Up - Square Footage Down?
A recent article in Business Week suggests that the open space model of the dot com era may, actually be a paradigm to enable businesses to reduce one of their largest expenses, namely, commercial office rent. Yet, the position of the author is hardly universally shared, eliciting a number of rejections and criticisms in the posted comments following the article. From my own experience, there is no doubt that, technologically, more and more things can be done in more and more places....
Bubble Metrics
I came across a very interesting website, that of the Center for Economic Policy Research, an organization that's done alot of looking into the housing bubble issue and that has alot of articles that you'll find interesting and informative. What's really noteworthy, though, is a unique bubble calculator that seeks to measure whether you'd be better off renting or buying by plugging in the price, mortgage terms, location and projected hold time into the fields, which then takes into...
Expected Report of Year Over Year 2nd Qtr Condo Price Declines
Today's NY Sun reports that an expected industry report on condo prices will show softening on a year over year basis for the second quarter. As the article recites, industry analysts opine on whether they foresee a repeat of the coop collapse of the late 1980's when oversupply combined with softening demand and tax reform to cause a sharp drop in prices. Some, according to the article, feel the City's overall healthy economy will prevent this recurrence in the case of...
Worried about Interest Rates? Tell that to the Rent Guidelines Board
In an unusually raucus session of the Rent Guidelines Board's annual spectacle on guidlines increases for rent stabilized apartments in NYC, the Board members could hardly hear themselves over incessant drum beats from Tenant activists, yet still managed to outrage them, while disappointing landlords in the process. Read about the meeting and the increases at <a...
Problems When the 1031 Tail Wags the Dog
Here's an interesting article about what happens when investors, in their zeal to meet the stringent time requirements of a 1031 exchange, invest in properties in areas they're unfamiliar with and do so without their usual degree of due diligence. <a href="http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on" >http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on</a>
Everybody into the Pool!
When it comes to Terrorism Insurance, the government's days as a reinsurer of last resort are numbered, ending in 2007 following one extension of a temporary act intended to restore confidence among the Nation's insurers and reinsurers following the huge losses suffered as a result of the 9/11 attacks. A lobbying group called the Real Estate Roundtable, <a href="http://www.rer.org/," >http://www.rer.org/,</a> recently proposed modeling a future system after that...
Taxes and Commercial Real Estate Activity in NY
Today's NY Sun has an interesting article sure to reinvigorate the timeless intellectual arm wrestling about whether booms and busts in real estate are primarily driven by tax policy or the business cycle. This article focuses on the infamous "Cuomo Tax", formally known as the Real Property Gains Tax, enacted in the '80's by then Governor Mario Cuomo. In short, the tax that excluded townhouses and one and two family houses, surcharged capital gains on most other...
Another View on the Bubble-No Bubble Coin Toss
Glenn Roberts, Jr. of Inman News today quotes from findings of the Anderson Forecast, an economic report out of UCLA. According to the report, housing is more likely to head for a crash rather than the gradually deflating balloon we've all be hearing about lately. For more, check out the article ( subscription required) at <a href="http://www.inman.com/hstory.aspx?ID=53488" >http://www.inman.com/hstory.aspx?ID=53488</a>


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How To Get Fsbos To Call You
How to Get FSBOs to Call You

Are you actively pursuing the FSBOs in your marketing area? You should be...because you'll generate a never ending supply of inexpensive purchase mortgage leads if done correctly.

Here's a really great tool to add to your marketing bag of tricks: "Hold a conference call for FSBOs." This idea can be used in other niche marketing areas as well...but, for now, let's concentrate on FSBOs.

Here's how it would work:

Set-up an account with a company that provides conference call capability. Check-out your local telephone company and compare rates and features to get the best deal.

You should look for the following features:

1. Dedicated phone number for your use.
2. Instructions on how to set-up the call.
3. Caller ID so you have a record of everyone that participated in the call.
4. No contract, no set-up fees, no minimums, no cancellation fees, no per conference fee.
5. Muting capability.
6. Permanent toll free number and pass code.

Pick a convenient date and time for your conference call and promote it. Create flyers letting FSBOs and potential FSBO know the date and time of your call.

Advertise your call as a "FREE For Sale By Owner Conference Call" and try to set a scheduled time for the calls such as: The 1st or 15th every month, or every Wednesday evening...at 7:30PM.

Post your conference call information in Laundromats, home improvement centers and, any and all bulletin boards you can find. Deliver flyers or mail flyers about the call to all FSBOs. Advertise your call in a local publication.

Look for FSBOs on-line. There is a growing number of websites FSBOs use to advertise their home. You can specify your city or marketing area within these sites. Many times you'll find contact information about the FSBO as well as an email address. Use this information to promote your conference call.

Prepare and print hand outs/mail outs for everyone that participates in your call.

It's your job to talk:

Plan your call and simply carry on a conversation. Thank your callers and let them know they can ask questions at the end of the call. Initially, plan a 30 minute call. You can make them longer as you gain experience

Mention your phone number and possibly your email address in the beginning, middle, and end of your call. Let your callers know you are available for private consultation if they would like to contact you.

Offer FREE advice to the FSBOs that will help them sell their home. A few examples would be:

1. Setting the correct value of their home,
2. Pros and Cons of "Open Houses,"
3. Financing options for their home,
4. Qualifying buyers,
5. 100% financing of their home, and
6. Tips for a successful "Open House."

There's plenty to talk about and all of the information is great stuff that FSBOs want to know. Offer your FSBO Manual to anyone that shows a willingness to work with you. If you're short of material and don't even have a FSBO Manual check out my FSBO Marketing Kit. There's so much material that you could

have a series of conference calls covering various aspects of the FSBO selling process.

Finally, un-mute and allow for a few questions. If the question is off the topic, ask them to call you direct and you'll be happy to help. Ask them to call you with their experiences and problems. Keep at it...you'll build credibility and gain their confidence

You could invite guest speakers such as a real estate attorney, appraiser, home inspector, home warranty representative, Realtor/Agent, or whatever. Many of these people would even pay for this opportunity and cover some of your costs of the conference call.

If you let your mind wander a little, you could organize a conference call for investors, home buyers, re-financing in today's market, and many other topics and niches.

Now...why does this idea work so well with FSBOs and other topics?

1. It's FREE to the caller,
2. its comfortable...they don't have to attend a meeting,
3. It's convenient,
4. They can attend from any touch-tone-phone,
5. It's non-confrontational,
6. They can join the call and leave at any time, and
7. It's low-key and anonymous,

What's even better, you don't even need an office to do this; it can be done in the comfort of your own home. And best of all...nobody knows if there are ten people on the call...or one!

Personally, I think this is a much better idea than organizing a seminar. Now I don't have to worry that too many, or worse yet, too few people are attending. Plus...my actual cost is a factor of the number of callers and the length of the call.

Now...I've done a little searching and comparing and I was impressed by "Budget Conferencing" at: http://www.budgetconferencing.com

They provide a "call calculator" so you can estimate the cost of the call before hand. As a reminder you are getting a Toll Free Number assigned to you.

Using their calculator, I entered in 10 participants, a 45 minute call (allows for questions), and 2 calls per month. My cost was $54.00 per call. Sprint would charge $198, MCI $211, and ATT $238 per call for the same (or even less) service.

WOW...I think that's a great price. Especially since there's no contract...you can afford to try it out and see how it produces for you.

A few words about this kind of marketing...this is low key and "I'm available to help" type of marketing. You'll win over your FSBOs by providing valuable information and assistance they need to sell their home and save money.

This is niche marketing at its very best. Don't expect results over night. As you continue to work with FSBOs and others, you will be looked upon as an expert in this field and more and more home owners will seek you out.

About the Author: Tom Domin the author of “101 Ways to Originate Mortgages” available at http://www.101WaysToOriginateMortgages.com/ and publisher of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter that is geared for Mortgage Professionals. You can sign-up by visiting http://www.MortgageMarketingToolKit.com/



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NYC Coop Sales Price Now Public Information
It's an old axiom that, despite increasing numbers of condos, coops still account for around 80% of NYC's apartment inventory. Yet, until recently, the sales figures were shrowded in mystery. No more. A recently passed law allows access to these figures through use of the City's ACRIS system. While the link may not be up for long, you can find a pdf guide to how the system works at NYC.gov/html/dof/html/jump/acris.shtm.
Noah's Ark 2006
In the year 2006, the Lord came unto Noah, who was now living in the United States, and said, "Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me. Build another Ark and save 2 of every living thing along with a Few good humans." He gave Noah the blueprints, saying, "You have 6 months to build the Ark before I will start the unending rain for 40 days and 40 nights." Six months later, the Lord looked down and...
Commercial Rent Prices Up - Square Footage Down?
A recent article in Business Week suggests that the open space model of the dot com era may, actually be a paradigm to enable businesses to reduce one of their largest expenses, namely, commercial office rent. Yet, the position of the author is hardly universally shared, eliciting a number of rejections and criticisms in the posted comments following the article. From my own experience, there is no doubt that, technologically, more and more things can be done in more and more places....
Bubble Metrics
I came across a very interesting website, that of the Center for Economic Policy Research, an organization that's done alot of looking into the housing bubble issue and that has alot of articles that you'll find interesting and informative. What's really noteworthy, though, is a unique bubble calculator that seeks to measure whether you'd be better off renting or buying by plugging in the price, mortgage terms, location and projected hold time into the fields, which then takes into...
Expected Report of Year Over Year 2nd Qtr Condo Price Declines
Today's NY Sun reports that an expected industry report on condo prices will show softening on a year over year basis for the second quarter. As the article recites, industry analysts opine on whether they foresee a repeat of the coop collapse of the late 1980's when oversupply combined with softening demand and tax reform to cause a sharp drop in prices. Some, according to the article, feel the City's overall healthy economy will prevent this recurrence in the case of...
Worried about Interest Rates? Tell that to the Rent Guidelines Board
In an unusually raucus session of the Rent Guidelines Board's annual spectacle on guidlines increases for rent stabilized apartments in NYC, the Board members could hardly hear themselves over incessant drum beats from Tenant activists, yet still managed to outrage them, while disappointing landlords in the process. Read about the meeting and the increases at <a...
Problems When the 1031 Tail Wags the Dog
Here's an interesting article about what happens when investors, in their zeal to meet the stringent time requirements of a 1031 exchange, invest in properties in areas they're unfamiliar with and do so without their usual degree of due diligence. <a href="http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on" >http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on</a>
Everybody into the Pool!
When it comes to Terrorism Insurance, the government's days as a reinsurer of last resort are numbered, ending in 2007 following one extension of a temporary act intended to restore confidence among the Nation's insurers and reinsurers following the huge losses suffered as a result of the 9/11 attacks. A lobbying group called the Real Estate Roundtable, <a href="http://www.rer.org/," >http://www.rer.org/,</a> recently proposed modeling a future system after that...
Taxes and Commercial Real Estate Activity in NY
Today's NY Sun has an interesting article sure to reinvigorate the timeless intellectual arm wrestling about whether booms and busts in real estate are primarily driven by tax policy or the business cycle. This article focuses on the infamous "Cuomo Tax", formally known as the Real Property Gains Tax, enacted in the '80's by then Governor Mario Cuomo. In short, the tax that excluded townhouses and one and two family houses, surcharged capital gains on most other...
Another View on the Bubble-No Bubble Coin Toss
Glenn Roberts, Jr. of Inman News today quotes from findings of the Anderson Forecast, an economic report out of UCLA. According to the report, housing is more likely to head for a crash rather than the gradually deflating balloon we've all be hearing about lately. For more, check out the article ( subscription required) at <a href="http://www.inman.com/hstory.aspx?ID=53488" >http://www.inman.com/hstory.aspx?ID=53488</a>

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