Realestock Blog

About a year ago, we posted about an interesting article from Forbes.com. The article predicted which US metropolitan areas would be the strongest long-term housing markets that could stand up in the recession. You can read the entire blog post on the subject here. The following ten cities were listed in the top ten:

Now, admittedly these predictions are for long-term value over ten years, but it is never too soon to check back and get a progress report.

So how well have the predictions held up? According to the latest statistics from the National Association of Realtors, it is the smaller municipalities and the suburbs that have had the real estate bust pass them by.

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In the last three weeks I've covered the ground from West to East accross Europe - on the hunt for depressed economic conditions. They seem to be more rare than the sighting of the Loch Ness Monster. From London to Paris to Budapest - Picadilly to the Champs Elysees - and East to Andrássy Avenue in Budapest - the crowds fill shop floors and busienss workers I've spoken with say "...business is good..."

What struck me was the numbers of people traveling and buying. The other thing that was apparent is whether you're used to walking down (or shopping - not my favorite pass time - but I do like to walk in and see the business models) New York's 5th Avenue or Robson Street in Vancouver, the main stay stores are all broadly distributed accross these European Cities.

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I met with a good friend of mine who deals in the financial sector in the UK today. It was great to see Andre - haven't seen him since last August when the markets went to hell!

The last time we met, I was just discovering that our largest health client had filed for Chapter 7 bankruptcy - it was a distraction during our regular board meeting in Toronto.

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Yesterday I discussed the mistake developers often make in presuming that they themselves are Media Experts. In that same vein, I will show you today how hiring a Print Media Marketing Expert is a not only an outdated but also wasteful mistake many developers often make.

Mistake #4 - Hiring a Print Media Marketing Expert. Print media is not a dinosaur - it's an albatross. The problem with print media marketing agencies is a two-headed one: First and foremost, they are excessively expensive, with no real proven ROI. At 15% - 30% , why would any well founded print media marketing company mess with the web? The fact of the matter is that they don't really use online marketing beyond instances when they are forced to. Second, on the rare occasion that they do decide to utilize online marketing strategies, their vacuous knowledge of this very different technique forces them to lean heavily on their print media background, thus costing their developer clients tens of thousands of wasted dollars.

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Just as dangerous as assuming a salesperson has an intimate knowledge of media and marketing - as I touched on yesterday - is a developer who assumes that he or she has that same intimate knowledge.

Mistake #3 - Being a Media Expert. Would a developer hire a general contractor to do an architects job? "Hey, here's a piece of property, Joe. Go ahead and build something, we'll get it sold..." I don't think so, either.

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Yesterday, I spoke about the first mistake any developer can make in project marketing and sales. As I said, I've seen a lot of developments stall or self-destruct at the hands of a developer who felt like he or she "knew it all." I told you about my friend the hotelier, who became a developer, then a travel "guru," then a marketing and sales "expert" capping off this illustrious and varied career with a stint as a financial products broker. His development is still just a patch of dirt.

Continuing in the same vein of "knowing it all," today I'll tell you what I've seen happen to developers who entrust their marketing efforts to brokers and sales people. Until recently, I've seen a lot of luxury brokerages trick developers into thinking that they were the total solution - a sales and marketing firm. I'll show you why sales and marketing under one roof make ineffective and wasteful bedfellows.

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