Condo Blog - A Non-Corporate Blog From CondoDomain HQ

Check out this video produced by WCI. Its got a clear message to something so simple we often overlook it.

The message that “Look & See” offers a whole lot more options than “Wait & See.” As we all know when it comes to the law of Supply & Demand, it is far better to be ahead of the curve than lagging behind. You want to be a day early or a day late? Watch The Video

Yahoo! Founding CEO Tim Koogle combines business with pleasure in his latest endeavor, luxury real estate in Mexico. The first seven Beach Villas at El Banco, Koogle’s premium 100-acre, low-density community near Punta de Mita, Mexico, are now for sale for over $6,200,000 each.

Each one-of-a-kind luxurious home offers expansive views of the Bay of Banderas, Marietas Islands, Sierra Madre Mountains, and El Banco’s long stretch of white-sand beach. The Beach Villas bring El Banco’s signature style to life – casual indoor-outdoor living that takes advantage of the area’s nearly perfect year-round weather combined with the elegance of Old World Mexico. The features of the Beach Villas include: a minimum of four bedroom suites, gourmet kitchens, elegant pools, spa-like bathrooms, multiple outdoor living spaces, high-tech amenities, and caretaker apartments.

“Having worked on great technology brands for much of my career, building something as tangible as a luxury real estate development is terrifically satisfying. My love of design, training as an engineer, and history as a businessman have all come into play in developing El Banco. It is my intention to create a place that others will, hopefully, enjoy for years to come,” said Koogle.

The first phase of the Beach Villas includes seven homes, two are completed and fully-furnished, and the additional five are ready for construction.

More… 

Ok, by now, even the non-techies in this evolving real estate industry has at least heard of Pay-Per-Click, but does it work seems to be the question of the day?  I read an article the other day stating that click fraud was at an all time high and it looks like it is no where near the top at the pace that it is climbing.

Personally, I don’t think I ever click on that PPC stuff.  Do you? It just seems that reputable good quality sites have found a way to rise to the top organically and the PPC stuff is for the newbies trying to get some exposure…but is it worth it at an ever rising PPC rate?  Right now, if you want to own the #1  PPC spot for Boston Real Estate or Boston Condos, you are going to be paying some serious “cash per click,” upwards of $15-$30 … and they can get to your site and decide they don’t even like  you….jease!  I guess if your spending that kind of money, you should at least have a great landing page or website for them to fall on.

Anyway this blog post was more of a question than a statement.  Anyone have the latest on Pay Per Click or Click Fraud in our Real Estate vertical?

I-Agent Realty Inc. (www.i-agent.com), The DC metropolitan area’s only full-service online real estate company, today released the findings of its recent study comparing total home buyer savings through I-Agent.com vs. a leading competitor. During the six month period ending December 31, 2007, I-Agent.com clients saved $43,596 on average compared to $27,790 through its leading competitor.

On average, I-Agent Realtors were able to negotiate a final sales price 5.2 percent below the listing price compared to three percent negotiated savings through a leading competitor. I-Agent average list price during this period was $605,513.10.  In addition to superior price negotiations, I-Agent gives customers a two percent rebate on their final purchase price, thus saving 7.2 percent overall. Findings are based on published MLS data.

I-Agent Realtors are able to focus on customer service instead of sales, with each backed by more than 50 successful transactions over the past two years; this experience provides an added advantage during seller negotiations.

“We’re thrilled to introduce exceptional savings for our clients.  We strive to continually provide a level of customer service that exceeds client expectations,” states Carlos Reyes, I-Agent Realty’s Principle Broker. “Not only did our home buyers save, on average, more than $43,000, but I-Agent has also streamlined the entire home buying process, saving our customers thousands of dollars on Settlement and Lender fees.”

Unlike other Online Real Estate companies, I-Agent Realty provides comprehensive service via local agents. JC Choi, a past client of I-Agent Realty, states: “Contrary to expectations from using an online service, I-Agent worked diligently, meticulously and professionally to make sure I was happy.  Every person I dealt with … was friendly, professional, and courteous.”

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Also make sure to visit our DC Condo website for new construction condos

And

If your looking in Boston, make sure to see our new Flat Fee Brokerage model similar to I-Agent in DC.

The National Association of Realtors® (NAR) has insisted for years, and insisted adamantly since the “bubble” started to burst, that real estate, like politics, is local. The quarterly survey of home prices that NAR released on Thursday proves this point and also indicates that, while the housing market is grim in some parts of the country it is doing quite well in others.

The survey which covers the fourth quarter of 2007 showed that 73 of the 150 metropolitan areas in the survey continued to show rising median prices for existing single-family homes.

11 areas actually showed double-digit annual gains and another 12 had increases of 6 percent or more. 77 Areas had price declines and 16 of those lost values in the double digits.

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The NAR report also covered condominium and cooperative prices in 59 metropolitan areas. The national median price for existing condos was $221,100 in the fourth quarter, only $100 less than in the fourth quarter of 2006. Thirty-three areas showed year-over-year increases (four of these had double-digit gains) while 26 areas saw prices decline, four of those by double-digits.

Total state existing-home sales, including single-family and condo, were at a seasonally adjusted annual rate(2) of 4.96 million units in the fourth quarter, down 8.5 percent from 5.42 million in the third quarter, and are 20.9 percent below a 6.26 million-unit pace in the fourth quarter of 2006.

NAR began tracking of metropolitan area median single-family home prices in 1979; the metro area condo price series was launched at the beginning of 2006, with several years of historic data.

Read the entire article…

Search Boston Condos (our fav market)

Source: Mortgage Daily News

New buyers at the Olive 8 luxury hotel/condominium will receive a guarantee that the price they pay for their home will be the lowest price offered. This is the first guarantee of its kind in this area by a condominium developer.

Seattle-based R.C. Hedreen Company, the developer and builder of the Olive 8 condominium/hotel, is on schedule to open the hotel portion in December of this year, with condo closings beginning shortly thereafter. They are so confident that the Olive 8 homes offer high quality and outstanding value in the marketplace, that they are prepared to back it up with a price guarantee to new buyers.  The legal addendum to the purchase and sale agreement says that if the same floor-plan within Olive 8 ‘s remaining inventory sells for less than the current price prior to closing, the buyers who contracted for a higher price home will benefit at closing with the equivalent discount to their price.

David Thyer, president of R.C. Hedreen, says the Olive 8 homes are attracting a great deal of attention and interest, but “We recognize the housing market hesitancy and feel that this guarantee will help shore the confidence of those who are on-the-fence.  Buying now offers the best selection and the assurance that they are getting a great value.”

The Hyatt at Olive 8 and the Olive 8 condominiums will be the first LEED-certified hotel/condominium building in the state of Washington.

Thyer says, “The green features add great value to these homes and that combined with the luxury of living above a first class hotel with its wealth of amenities gives us the confidence to offer this exceptional price guarantee.”

Thyer says the guarantee is an indicator of the company’s confidence in the Seattle economy and in the value of the Olive 8 property.  Olive 8 is one of only a few new condominium buildings that will be completed in the next 12 months. With construction costs continuing to rise and expected to rise by 25% over the next couple of years, Thyer says buyers looking for high quality homes will almost certainly see higher prices ahead.

Olive 8 is well on its way to completion; the hotel floors have all been poured and condominium floors are being poured at the rate of one every seven days. The dynamic glass exterior is now approaching the condominium floors and the building is expected to top out in July.  Hedreen’s most recent hotel is the Grand Hyatt Seattle, only one block away. Olive 8 will be the ”contemporary cousin” of the more “classic” Grand across the street.

Olive 8 features soaring 10 foot plus ceiling heights and when it opens in December it will be Seattle’s tallest residential condominium. The unique building materials and systems at Olive 8 promise a stunning landmark in the making.

About Olive 8

Olive 8 is a 39 story luxury hotel/condominium building, with the lower17 floors occupied by the Hyatt at Olive 8 and 230 condominium homes on the top 22 floors.  It’s the first hotel/condominium project in Seattle to seek LEED™ certification (seeking silver).  The hotel will open in December, 2008 and condominium buyers will begin move-ins during January, 2009.   The developer is R.C. Hedreen Company.  Founded in Seattle in 1963, R.C. Hedreen has developed, owned and managed investment projects including hotels, retail, high rise office buildings, single and multi family residences. In recent years, Hedreen has focused primarily on luxury hotels with a portfolio that includes the Grand Hyatt Seattle, Seattle Hilton Hotel, Crowne Plaza Hotel, and the Seattle Madison Renaissance Hotel.  The local architect is Mulvanny G2 (previous partners with Hedreen on the Grand Hyatt Seattle) in collaboration with design architect Richard Gluckman of Gluckman Mayner Architects in New York City. Notable Gluckman projects include the Andy Warhol Museum, the George O’Keeffe Museum and Museo Picasso Malaga in Spain.  Hedreen’s construction manager for the building is JTM Construction.

Related:  Blog Post 

Search:  Seattle Condos 

National Association of Home Builders officials on Tuesday announced plans to freeze all contributions from the group’s political action committee to federal congressional candidates for a perceived failure to address “underlying economic issues” to stabilize the housing market.

The announcement came less than an hour after a separate NAHB announcement that praised the Bush administration for an agreement by six major lenders, called Project Lifeline, to stall foreclosure proceedings for some borrowers and pursue workout plans.

“This extraordinary action was taken,” NAHB President Brian Catalde said in a statement, “because the NAHB BUILD-PAC Board of Trustees felt that over the past six months Congress and the administration have not adequately addressed the underlying economic issues that would help to stabilize the housing sector and keep the economy moving forward.” Continued…

Source: Inman News

Who is Sawbuck?

Sawbuck Realty is a web-based real estate broker headquartered in Washington, DC. We have a unique business model designed to:

1. Empower buyers with the best search tools, technology and information
2. Connect buyers with the very best local agents
3. Give buyers a below-market mortgage with no closing costs
4. Negotiate the lowest possible settlement costs for buyers

We want homebuyers to get the best of everything—best tools, best agent, best mortgage, best settlement, biggest savings—while giving up nothing.

What is a “sawbuck”? Why’d you pick that name?

A “sawbuck” has two connected meanings. Originally, it was an “X”-shaped sawhorse used by pioneers to hold wood as it was sawed into boards for homebuilding. Subsequently, it became common slang for a 10-dollar bill, because the prominent roman numeral “X” reminded people of the sawhorses (a 20-dollar bill—XX—is a “double sawbuck”). We liked the name because it combined the idea of homes (as in building them) with the idea of money (as in saving yours). Plus, it’s fun to say.

Ok whats the bottom line with this new ‘cool named’ dot-com, mortgage backed real estate website….

Well…our take on it is actually a pretty cool idea! These guys who founded the company actually came from a mortgage background (same background as me). They have found a clever way to show you true savings in mortgage and closing services while hooking you up with a good local agent.

This is very interesting and will be following them closely. Its somewhat similar to what we are doing in the Boston marketplace now…I guess we can say now…”this is the way business is heading?”
Check out Sawbucks Website or their Blog here.

And of course…you can still search D.C. Condos on CondoDomain

Today I came across something neat over on the Sellsius Blog (what else is new!)  It was about this new online rental evaluator called Zilpy.  Its actually a very cool tool if you are looking to rent a property.

Beside the killer ap…we also picked up on some sort of strategic alliance with Zillow.

*According to Drew Myers of Zillow: “To clarify the relationship between Zilpy & Zillow — there is no formal strategic partnership between our companies. Zilpy is, however, planning to use quite a bit of data from the Zillow API” (source: 4realz.net -emphasis added).

I am going to follow Joe from Sellsius on this one…so stay tuned on Zilpy…I think they may have something here.

Ok…here is the deal. Today, Christian fielded a call @ the office. It was from the offices of The Martini Workout … at first Christian burst out laughing noting, “Tony, I found the perfect gym for you.” But soon after…we found out that you don’t just go work out and then start pounding Martini’s afterwards (otherwise we would have signed up the entire office.)
Ok…here is the scoop.

The idea started around the concept of “Core Strength” … now I see and hear all about this @ Equinox in Boston, but I guess this gym is dedicated to this method which seems to be the newest prescription in professional fitness clubs.
Anyway…I could go on about our sarcastic conversations in the office….bottom line, it looks pretty cool and seem that they have traction here in Boston.

Anyone heard of this? Been to a class?

Check out their website @ http://www.themartiniworkout.com

Technorati Profile

…we have BallerHouse.  A new blog we came across today pointing out the most lavish of lavish living.  For those of us who can’t afford this stuff…its still is quite entertaining to read.  Very cool stuff here on all 3 blogs!
Ballerhouse was founded in 2007 by A.J. Yeakel and Mark L. The company is headquartered in San Francisco, California and incorporated in the State of Delaware.   Two other blogs they support is BallerRide for none other than exotic cars and BallerHub for the finest in lifestyle living.

There latest post is on Tom Brady’s sale of his Boston Condo …check it out here.