Finding Affluent Buyers: Q&A with John Brian Losh, Publisher of LuxuryRealEstate.com

February 19th, 2011

Finding qualified buyers who are poised to close on a luxury real estate acquisition today requires more than just advertising in your local market. In Orange County especially, where high-end properties range from $2 million to $57 million, it is necessary to expand marketing exposure to a global audience as the pool of available luxury buyers has decreased. The complexities and nuances of this diverse, but small luxury market segment have made global peer networks such as Coldwell Banker Previews International®, the most extensive online and international brokerage network in the world (with a presence in 50 countries and territories), all the more essential in today’s market.

In a step that broadens the reach of our global network, Coldwell Banker Previews International® has recently joined forces with LuxuryRealEstate.com, the no. 1 portal for luxury properties on the Internet. I recently spoke with LuxuryRealEstate.com’s chairman and publisher, John Brian Losh, about our collaboration.

RJ: Why is it important to generate leads through an extensive peer network?

JBL: I think it’s important because luxury real estate agents today need to cast an even wider net to reach buyers. LuxuryRealEstate.com allows Coldwell Banker agents to work with their colleagues and other agents outside of Coldwell Banker, referring new business to places where, perhaps, there isn’t a Coldwell Banker presence. LuxuryRealEstate.com is the most viewed luxury real estate website in the world. Therefore, it’s important that agents have their best listings on our site as well as on their own site, the View, coldwellbankerpreviews.com, californiamoves.com and coldwellbanker.com. If they’re doing this, then they’re giving their listings the maximum exposure.

RJ: Recent surveys have found that the majority of affluent consumers use the Internet to buy, shop or research a product or service. Are luxury homebuyers really online?

JBL: The short answer is, yes. This year, we’ve already seen a 20 percent increase in activity on our site, which is largely due to mobile phone use. All buyers, and especially affluent buyers, are using the Web for research. They log online to see what homes are available in what communities, whether it’s Balboa Island or Laguna Beach. If their primary residence is out of town, they’ll search the Web and when they do finally make their trip to California, they will drive around from community to community, narrowing down their search on their mobile device. It allows them to do their scouting, which gives them more confidence.

RJ: Give us a picture of your typical visitor.

JBL: Our visitors have a high net worth. They typically own multiple homes, so they are often looking for second homes, retirement homes or alternatives to their primary residence. The majority of our visitors are from the U.S., but we also have a good following in Canada, Australia, Europe and Asia. Southern California has always been a primary market for offshore buyers.

RJ: Which countries hold the most real estate purchasing power right now?

JBL: The Canadians are finding their dollar high in the U.S. The Euro also continues to be strong. There is an influx of Chinese and Russians entering the market, who see the U.S. as a safe haven for investors. The prices are right in Southern California, so it’s very advantageous to buy.

RJ: What are affluent homebuyers looking for today, compared to five years ago?

JBL: I think they’re looking for extraordinary homes at extraordinary prices. Everybody wants the quality of life that Southern California offers. They are searching the Web, and finding better values than they were five years ago.

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Coldwell Banker’s Lifestyle Search Tool Moves Buyers Closer to Dream Home

February 4th, 2011

The golden rule of real estate has always been: “location, location, location.” However, Coldwell Banker Residential Brokerage in Orange County recognizes that everyone perceives the value of location differently. For example, a young professional in Irvine may place higher value on a home near restaurants, nightlife, shops and services; while a family with two children in Newport Beach may prefer a home near the best schools in their district.

Coldwell Banker Real Estate understands that lifestyle preferences are as varied and nuanced as individual consumers’ needs. Since the company is always at the forefront of technology, we have recently launched a lifestyle search tool on ColdwellBanker.com to help homebuyers intuitively narrow in on communities that fit their criteria and pinpoint the perfect home.

“Most Internet users are accustomed to search engines and transaction sites like Zappos.com, eBay.com and Amazon.com that automatically make suggestions based on buying tastes,” said Mike Fischer, senior vice president of marketing for Coldwell Banker Real Estate. “At their core, real estate sites are search engines and transactional in nature. In that same vein, we wanted to develop an intuitive search tool for ColdwellBanker.com based on lifestyle preferences.”

I invite all Orange County homebuyers to venture over to ColdwellBanker.com to try it out. You can start by simply entering your location and home requirements, or you can peruse Coldwell Banker BlueScape to search for homes by selecting from an array of images. To drill down even further, you can click the small toolbar on the right side of the screen to rate lifestyle factors such as a home near shops and services, public transit, nightlife, art and music venues, good schools, and/or golf courses; whether it’s in a rural or urban area; and whether it matches your price range. Based on those preferences, you’ll see neighborhoods throughout Orange County that meet your criteria, and can search for homes within those areas.

The lifestyle search tool is yet another example of how Coldwell Banker Real Estate is a technology leader and innovator, capable of adapting the real estate golden rule to address the most pressing needs and desires of today’s digitally savvy homebuyers. Since 90 percent of homebuyers start their search online, we are committed to making the home search easier, faster and more intuitive from the beginning. We are not just here to help our clients buy and sell real estate; we are ultimately here to guide them toward the lifestyle of their dreams.

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Building Memories: Coldwell Banker Agent Helps Families of Fallen Heroes

January 21st, 2011

Coldwell Banker Residential Brokerage in Orange County has a long tradition of helping local families build memories. Since many of our Coldwell Banker agents can be found on the front lines of their community, they often act as “stewards” of their local neighborhoods as they help improve the quality of life for O.C. families. Trisha Marshall, a sales associate in Newport Beach, is the latest example of how our real estate agents are making a difference.

As a Snowball Express Board member, volunteer and national Snowflake coordinator, Trisha spreads her message of hope through the Snowball Express Foundation—a charity that provides new memories to the children of fallen military heroes since 9/11. Founded in Orange County in 2006, the foundation has literally “snowballed” into a success, attracting scores of corporations and thousands of volunteers.
 Snowflake events are held throughout the year to provide comfort and relief for local families affected most by sudden losses. One of Orange County’s top Snowflake events was the 2nd Annual End of Summer Picnic, “Operation Snowflake Picnic” on Aug. 15 at the William Mason Regional Park in Irvine. Approximately 28 Snowball families and 48 of their Snowball children united—and some reunited—to commemorate the memory of their fallen heroes. With over 250 people in attendance (including the host families from American Airlines and the sheriff’s department), the picnic gave children a welcomed escape, allowing them to honor their fallen heroes in a positive way and providing them with an opportunity to create memories and new friendships.

“We are grateful to have agents like Trisha Marshall work for our Coldwell Banker family,” said Chris Crocker, branch manager of Coldwell Banker Residential Brokerage in Newport Beach. “Giving back to the communities we serve is very important to Coldwell Banker. Trisha exemplifies this dedication to service in both her professional career and her willingness to serve those in need.”

Trisha takes great pride in giving hope and direction to local families through her volunteer activities, in addition to her work as a Coldwell Banker sales associate.

“I am proud to be part of the Coldwell Banker family because they are simply the best,” Trisha recently told me. “It is important for me to be associated with a company who is dependable, supportive and respectful of the challenges facing those who place their name on a Coldwell Banker business card. The fact that this organization continues to maintain positive visibility in the community is one of the many reasons I am proud to work here.”

Trisha is part of a Coldwell Banker team that places a high value on family, community and home, just as you do. We are here, working everyday, ready to help you create lasting memories with your family.

For any Snowball Express or real estate inquiries, Trisha can be reached at t.marshall@snowballexpress.org. For further information about the foundation, please visit www.snowballexpress.org.

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A New Year for O.C. Housing Market

January 8th, 2011

The New Year always seems to usher in a sense of optimism and opportunity, along with an array of predictions from real estate experts and economists. As Regional Vice President of Coldwell Banker Residential Brokerage in Orange County and Desert Region, I am in a unique position to help guide our real estate agents and clients with up-to-date market information. While it is impossible to predict the future, I have been keeping watch on several positive market indicators for 2011.

1. Household Wealth Growth

Despite the slow pace of recovery, we continue to see gains in net worth. Net worth for households and individuals increased 2 percent in third quarter 2010. The average U.S. personal savings rate also climbed from 0.4 percent in 2005 to 4.3 percent in 2009, and hit 5.5 percent in third quarter 2010. Improvements in consumer spending and consumer confidence, coupled with increased demand for goods and services plus falling unemployment claims are cause for a brighter outlook in 2011, according to the December 2010 Economic Outlook by Fannie Mae’s Economics & Mortgage Market Analysis Group. All of these factors hold promise, since many consumers may be in a stronger position to purchase a home in 2011.

2. American Dream Still Alive

Americans still perceive real estate as a better investment than the stock market. Last month, Fannie Mae released a study that found most Americans—both those who currently own homes and those who rent—still strongly aspire to own a home and to maintain homeownership. In October 2010, the National Association of REALTORS® also found that nearly eight out of 10 respondents to their 2010 National Housing Pulse Survey believed buying a home is a good financial decision.

3. Upward Trends in Some Local Markets

According to the California Association of REALTORS®, the median home price in California will increase 2 percent from $306,500 in 2010 to $312,500 in 2011. Some local markets have already begun to see movement. In Orange County, the median home price of an existing single-family home was up slightly in November 2010 from the previous year. Luxury markets such as Newport Coast saw a whopping 46.58 percent increase in the median home price in November 2010 from the same time a year ago; the median home price in Laguna Beach rose 11.84 percent. While Chapman University’s 2011 economic forecast foresees the O.C. median home price (currently at $432,000) rising 3 to 4 percent in 2011, the UCLA Anderson Forecast predicts that prices will climb above $500,000 in 2012—for the first time since April 2008.

“While the growth path is modest, it is nonetheless positive,” said Mark Schniepp, Associate, UCLA Anderson Forecast. “Private sector job creation has been larger than expected, and positive in 7 of the first 8 months of the year. New residential construction has turned around and a better than expected tourist summer season created thousands of jobs in the visitor serving sector.”

4. Strong Fundamentals

Lawrence Yun, Chief Economist at the National Association of REALTORS®, recently noted: “The relationship recently between mortgage interest rates, home prices and family income has been the most favorable on record for buying a home since we started measuring in 1970. Therefore, the market is recovering and we should trend up to a healthy, sustainable level in 2011.” Leslie Appleton-Young, Chief Economist at the California Association of REALTORS®, agrees that housing fundamentals in 2011 will remain strong. Interest rates are low, the first-time buyer affordability index is high, and buyers are finding tremendous value opportunities throughout the O.C.

Five or six years from now, “many people will look back to 2010 and say ‘I should have bought a home back then,’” said Yun. For residents in Orange County, my hope is that you do not look back to 2011 and say the same thing.

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View, How Far We’ve Come

December 4th, 2010

They say that imitation is the sincerest form of flattery. Recently it was announced that Coldwell Banker Residential Brokerage, which serves Chicagoland, Northwest Indiana, Southeast Wisconsin and Southwest Michigan, launched it’s own version of View magazine. If the success of View in Southern California is any indication, the Chicagoland version will be equally valued as a real estate resource.

The View concept was originally developed by Coldwell Banker Residential Brokerage in Orange County. Launched in March 2007 with an annual distribution of 1.7 million copies, the View is now the largest real estate magazine resource in Southern California with a circulation of more than 10 million copies, spanning the Desert Region, Los Angeles, Ventura, Santa Barbara and San Diego Counties. The View has also expanded into Arizona with great success. In our local market, we have seen our competitors respond with publications of their own. However, with our annual circulation exceeding 10 million in Southern California alone, no other company can match the reach and recognition of View.

“There is little doubt about the power of the View,” said Betty Graham, president and COO of Coldwell Banker Residential Brokerage in Greater Los Angeles. “We continue to hear success stories stretching from Santa Barbara to San Diego, and it’s obvious why. Through the View, we are able to give our clients’ properties the most exposure to the broadest audience possible.”

We continue to hear stories of people finding or selling their dream home through View. Ed Blatchford, a Coldwell Banker sales associate in Tustin/North Orange County, was recently singing View’s praises. He ran an ad for a home in North Tustin, with an open house that weekend. Over 200 people came out to tour the property, which he attributes to the View ad. One person even commented that he was sure to check View every issue. I also recently heard that Sally Forster Jones, a Coldwell Banker sales associate in Beverly Hills, closed an over $8 million dollar sale with the buyer coming directly from an ad she placed in View.

The fact is, no other real estate company in the nation offers that kind of coverage or reach. When it comes to offering in-depth marketing resources, Coldwell Banker Residential Brokerage in Orange County and Desert Region clearly has the competitive edge.

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A Time for Thanksgiving

November 20th, 2010

This Thanksgiving, many Orange County and Desert Region families will gather around a table at home to enjoy turkey with family and friends. However, not every family is fortunate enough to spend the holiday together.

Coldwell Banker Residential Brokerage in Orange County and Desert Region want to remember those families who will have an empty seat this Thanksgiving. We want to express our immense gratitude to the local men and women who serve in the U.S. military and make extraordinary sacrifices for our country everyday. They bravely offer up their lives and give up quality time with their families to protect our homeland. For that, we cannot thank them enough.

Thanksgiving is an opportunity to be grateful for the simple things: freedom, home, family, friends. It is a reminder that we are all connected, from the shores of Laguna Beach, to the desert of Palm Springs, to the trenches of Afghanistan and Iraq. For the hundreds of Coldwell Banker Residential Brokerage real estate agents who live and work here, it is also a reminder that we all share in the American dream.

From the Coldwell Banker family to yours, we want to wish everyone a joyous Thanksgiving.

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Orange County Home Prices to Rebound by 43 Percent in 2012

November 6th, 2010

If Orange County homebuyers and sellers have been waiting for some good news about the real estate market, they finally have it: the Orange County Register recently reported that Orange County will have a half-million-dollar housing market again by 2012. According to the latest UCLA Anderson Forecast, the Orange County home sales volume will rebound by 43 percent over the next two years. Economists with UCLA’s Anderson Forecast also foresee Orange County home prices climbing above $500,000 in 2012 for the first time since April 2008. Prices are expected to increase from 6.6 percent to 9.3 percent a year through 2015. That adds up to 49 percent growth in the next six years!

 

As a homeowner or investor, have you ever regretted letting a window of financial opportunity close because you didn’t act sooner? Does this positive forecast mean that now is a good time to jump into the market?

 

We are often asked the “Is it the right time to buy?” question at Coldwell Banker Residential Brokerage in Orange County and Desert Region. I always like to say, “We don’t have a crystal ball.” However, we can look at the history of past real estate cycles, combined with forward-looking economic reports such as the Anderson Forecast, and feel confident about the long-term strength of the Orange County housing market. We also have other factors – such as historically low interest rates, pent up demand, rising affordability and growing consumer confidence – on our side for the near future.

 

Coldwell Banker Residential Brokerage has always believed that the American dream in Orange County will endure. Orange County has been counted among “America’s Best Places to Live” for a reason: our beautiful weather, beaches, schools, entertainment destinations and quality neighborhoods continue to make it one of the most desirable places to live, work and own a home. The next six months may prove to be the most significant window of opportunity yet for people who want to own an Orange County home. We encourage everyone to take that first step towards home ownership by contacting a local Coldwell Banker sales associate today. In six years, you’ll probably thank yourself for it.

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The Power of Real Estate’s Blue Chip Brand

October 23rd, 2010

When it comes to choosing a real estate firm in coastal Orange County, central Orange County or in the desert, there is only one company that is on par with the world’s greatest blue chip brands. Founded in 1906, Coldwell Banker has the kind of staying power that only a handful of companies in the entire world possess. But how does that benefit our local clients? What are the advantages of buying and selling real estate with Coldwell Banker, one of America’s most enduring brands?

 

Benefit #1: Market Reach. We represent more buyers and sellers than any other brokerage firm because we are backed by NRT, the largest residential real estate brokerage company in the nation. NRT owns and operates companies in 35 of the nation’s largest metropolitan markets, closed more than $107 billion in sales in 2009—more than any other real estate company. Coldwell Banker’s luxury home marketing program, Coldwell Banker Previews International®, also has the most extensive international brokerage network in the world, with a presence in 49 countries and territories. As a consequence, Coldwell Banker Residential Brokerage in Orange County and the Desert Region provides our clients’ properties with the most exposure.

Whether it’s a property in Newport Beach, Mission Viejo or Palm Springs, it will be seen by the broadest audience possible.

 

Benefit #2: Name Recognition. Quite simply, people want to work with brands they know and trust. Just seeing the Coldwell Banker logo on a business card means credibility and professionalism to the world over. It’s an advantage for both our real estate agents and clients, especially during challenging real estate cycles. Coldwell Banker’s brand reputation, combined with our 104 years of real estate experience, gives people confidence because they know their future rests in good hands.

 

Benefit #3: Depth of Resources. No other real estate company offers the depth of resources we offer to our agents, which directly benefit our clients. We have the View, Southern California’s most comprehensive full-color weekly real estate resource. We also dominate the digital real estate marketing sphere. In addition, NRT and its affiliated companies provide everything from mortgage and escrow to relocation services. These resources not only give our real estate agents a competitive edge, but also serve to create a real estate experience that extends beyond the industry status quo.

 

Coldwell Banker is a leader in our industry for a reason. We have stood the test of time because we have remained committed to making the dream of home ownership a reality. That is the “tried-and-true” Coldwell Banker difference.

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Newport Beach Ranks as Most Expensive U.S. Real Estate Market

October 9th, 2010

Just how attractive is the prospect of home-owning these days? In Orange County, it’s more attractive than anything, anywhere. Owning a home in Orange County is the single most attractive home-owning prospect in the U.S., period.

 

Orange County stands alone as the premier destination for homeowners. Coldwell Banker Real Estate LLC just compiled its Home Listing Report—a snapshot survey of U.S. four bedroom, two bath home listings. The report found Orange County’s Newport Beach to be the most expensive real estate market in America, with an average home listing price of approximately $1.83 million for property listings meeting the subject home criteria.

 

Coldwell Banker’s Home Listing Report is our latest development designed to provide comprehensive information on real estate data from around the country for homebuyers and sellers. The report shows the average home listing price of more than 18,000 four bed, two bath properties on coldwellbanker.com that were listed between February and August 2010. Nearly 300 U.S. markets were surveyed, and the average listing price from them all was $353,000. California came up the big winner, indeed: four of the top 5 cities listed hailed from the Golden State (No. 2 Palo Alto, No. 4 San Francisco and No. 5 La Jolla). Pasadena also clocked in at No. 8 and Santa Barbara ranked 10th.

 

Jim Gillespie, chief executive officer of Coldwell Banker Real Estate LLC says Newport Beach’s stance atop the list gives tremendous insight into our strong local market condition. The sandy beaches and historic significance of Newport Beach may best encapsulate Orange County as a whole - a highly desirable place to live, work and own a home.

 

“Today, those who have the financial resources and desire to move up to a larger home have a unique opportunity to take advantage of historically low mortgage interest rates coupled with comparatively lower prices and greater selection,” he emphasized.

 

Visit www.OCViewOnline.com and contact your local Coldwell Banker sales associate this weekend to find out how to get into some of the most desirable home-owning markets anywhere. Whether you’re a first time move up, or a luxury, we’re ready to help you find your dream home.

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American Cancer Society Relay for Life Comes to Orange County

September 25th, 2010

The American Cancer Society Relay for Life began in 1985 with one man, Dr. Gordy Klatt, in Tacoma, Washington and his passion to raise money in 24 hours for the American Cancer Society. Over the years, it has evolved into the world’s largest movement to end the disease. Today, the event has grown to include more than 3.5 million people in 5,000 communities in the United States and communities in 20 other countries coming together to raise awareness and funds to save lives from cancer.

 

The Relay gives participants a chance to celebrate the lives of people who have battled cancer, remember loved ones lost and fight back against the disease. As a lung cancer survivor of six years, I can say this was truly an emotional event. My first Relay as a participant was only an hour after being released from the hospital after my lung was removed. It meant so much to be able to participate in the celebration, support the people still in the fight and remember the ones that had lost the fight. Each year I look forward to supporting this cause so I can make a difference and help end cancer.

 

Celebrate, remember and fight back are the themes that link each of the Relay events around the world together. I want to personally invite each and every one of you to join your local community for the American Cancer Society Relay for Life event and help our communities fight back against this disease. Two notable Relays approaching us will be held on the weekend of Oct. 2-3 in Dana Point and Lake Forest. For more information, please visit http://www.relayforlife.org/danapointca and http://www.relayforlife.org/lakeforestca.

 

By participating in this event we ensure that those who lost their lives to cancer will never be forgotten, those who face cancer will be supported, and that one day cancer will be eliminated. As a cancer survivor I want to thank you in advance for your support and I look forward to seeing you on the track.

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