Posted via email from Deven Spear’s Posterous

The highest month-over-month percentage increase in more than a decade!

http://online.wsj.com/article/SB125085108563549051.html

Posted via email from Deven Spear’s Posterous

NEW YORK (AP) – The delinquency rate on U.S. mortgage loans hit an all-time high in the second quarter, but the pace of growth for the rate slowed, a possible sign the mortgage crisis may be beginning to turn the corner. Data provided by credit reporting agency TransUnion shows the ratio of mortgage holders who are 60 days or more behind on their payments increased for the 10th straight quarter, to 5.81 percent nationwide for the three months ended June 30.

For the full story: http://www.cnbc.com/id/32450865

As part of our continued effort to better understand the real estate environment and share knowledge during these challenging times, we asked a group of trusted advisors, industry leaders and overall smart real estate folks to share their observations about what’s happening in the marketplace.

There are some notable changes from Q1:

• Lack of management experience is a big factor – lots of confusion about what to do next.
• Increased pursuit of any and all types of “efficiencies”. How can I cut cost and still do more.
• Continued financing hurdles for those that want to buy – especially on home sites.
• Buyers perception is that you can get 25% – 40% off at present.  They all want foreclosures or short sales….then it’s tough to get them financed.
• Pre-development communities are stagnant or dead.
• New development ownership and private capital on the rise.
• Interested prospects want completed communities – show me the clubhouse, let me play the golf course, what time is dinner?
• We are using the web and social networking much more. Must be targeted rather than mass media.
• Most prospects are jumpy and just won’t spend cash or go further in debt.
• On site agents have to relearn the art of selling.
• Follow-up is the key! Must be more frequent and more creative.
• Sales consultants have to be just that — consulting on financing, timing, market competition and they better be well versed in the competition too.
• A strong, trusted brand even more relevant than ever before.
• Developers lacking a positive and strong track record are dead in the water in this environment. People will not trust un-proven developers.
• Still watching for signs of positive consumer confidence – starting to see some now!

Add your feedback below….

As developers and builders consider their sales and marketing options with the recovery underway, there are many factors in play. Do you invest in new branding inititives with a marketing agency? What’s the right social marketing strategy? How can I effectively use my public website to generate qualified leads? Is print dead?

All good questions. But consider this. If persistance pays off, how do I manage my marketing and sales efforts over the long term? Agencies are invaluable at establishing your brand and developing a plan for targeting your ideal prospects. Most of them understand that an integrated marketing approach (mostly weighted around online) is the best, most cost-effective approach.


Today, unified software systems like BrightBase give you the power and flexibility to take control of the on-going content management process. This now extends to your public website (inventory, site maps, surveys, registration) as well as other sales force automation tools such as information kiosks and sales center presentation. No one expects the “good old days” of 2006 to return anytime soon. As developers consider how to get back in the game, those with a persistant approach are best positioned for long term success. They’ll need technology that gives them full control of their online presence.