Realestock Blog

What do you get for a million?
A lot! For $999,900 dollars you can pick up a two level penthouse suite with spectacular downtown views. A spacious 1860 sq feet offering puts similar priced Vancouver offerings to shame. Better yet, this property is in the heart of downtown - a few blocks from Queen Street, incredible night life, world class restaurants, and the Bay Street financial district.
Downtown Toronto Penthouse
Size: 1860 sq ft
Bedrooms: 2 + den
Bathrooms: 3
Price: $999,900 CAD

What do you get for a million?
A spacious three double bedroom, 2 bathroom apartment overlooking the water in Auckland’s Viaduct Basin – which sounds sort of unappealing, but the Viaduct Basin is one of the swankiest parts of Auckland’s Central Business District (or CBD to the locals) housing the newest, most upscale apartments and best restaurants in the city.
Auckland Ocean View CBD Apartment
Size: 2260 sq ft
Bedrooms: 3
Bathrooms: 2
Price: $1,055,000 NZ Dollars, approx $787,053.25 CAD

What do you get for a million?
Property is at a top premium in Washington DC, so for those wanting to live closer to where the political action is happening, an apartment in Dupont Circle, part of the “Old City” would be more to most people’s liking. Dupont Circle is home to numerous Embassies, countless historic residences, and the Capital Pride LGBT pride Festival.
Dupont Circle Apartment
Size: 1416 sq ft
Bedrooms: 2
Bathrooms: 2.5
Price: $998,000 USD, approx $1,053,249.50 CAD

What do you get for a million?
A two bedroom apartment, overlooking the Thames River, across the way from Canary Warf, in Rotherhithe – a district in inner southeast London. Although quiet and suburban in nature, Rotherhithe used to be the site of the Surrey Docks, which were largely filled in during the 1980s, to be replaced by modern housing and apartments.
Thames Riverfront Apartment
Size: 904 sq ft
Bedrooms: 2
Bathrooms: 2
Price: £595,000, approx $956,385.63 CAD

What does a million get you?
A 1910 apartment in Berlin’s 4th borough, Charlottenburg-Wilmersdorf featuring oak floors, high ceilings and incredible period details. Charlottenburg was the commercial centre of West Berlin during the Cold War, and is still the main shopping centre of Berlin, offering major hotels, theatres, bars restaurants and attractions for tourists such as the world famous Berlin Zoo.
Period Luxury Apartment in Berlin
Size: 1367 sq ft
Bedrooms: 2
Bathrooms: 1
Price: €785,850, approx $1,073,958.30 CAD

Comment (0)

Real Estate investment has taken a real beating in the past two years. With sluggish markets just beginning to claw their way back, the question the smartest investors are asking is not, “what properties are for sale” but “where is it worth buying?”

Comment (0)

Luxury real estate sales in Canada are soaring, breaking pre-recession sales records as buyers are capitalizing on low interest rates and increasing economic confidence.
RE/MAX released its first quarter Upper End 2010 Report on Monday, showing a marked increase in luxury home sales in markets across Canada. The report noted that, "Canada's sound banking system, political stability, and strong dollar are attracting foreign investment -- and that is spilling over into high-end residential real estate.”

According to Wayne Schrader, a RE/MAX Broker/Owner and specialist in luxury properties on Vancouver Island, consumer confidence is playing a big part in the rallying sales.
“Markets are picking up and turning the corner,” said Schrader. “People are realizing the big recession didn’t materialize in Canada, and at the same time, prices have come down and are much more attractive.”
The Conference board of Canada echoes Schrader’s sentiments - its economic forecasts predict the Canadian economy will grow at a healthy 3.2% in 2010. An upswing in the economy makes the current market conditions even more attractive, as buyers take advantage of the current low interest rates, noted Schrader.
But why have sales increases have been so sharp, in some cases bettering years that were fueled by the white-hot real estate markets of the time? According to Schrader, and the report, they key is balance.
High end property prices have softened from their previous peaks explained Schrader, which can make luxury real estate look like a better investment for some buyers.
“Ample opportunity and a good selection of product exists, and savvy purchasers are taking advantage of favourable conditions,” said the report.
According to the Elton Ash, Regional Executive Vice-President of RE/MAX in Western Canada. the luxury “segment of the market was hardest hit when the recession took hold, yet its comeback has been fast and furious.”
Comparative sales figures back up Ash’s statements. In the first quarter of 2009, high end property sales had slumped - only 411 properties classified as “upper end” were sold by RE/MAX across Canada. This year, the number has leapt to 1,111 - an increase of more than 170%.  Comparing that to 2008’s first quarter sales of 894 high end properties shows overall sales in Canada are still up almost 24% over pre-recession numbers.

Comment (0)

On April 28^th and 29^th, 2010 in New York City, CMAEON’s CEO and Founder, Tim Vasko will be speaking at the REMarTech (Real Estate Marketing & Technology Academy) event on online marketing, named ‘Is Social Media a Fad?’

The ReMarTech is a two-day conference with eighteen workshops, focusing on online listings and “virtual office websites”, lead generation, email and mobile marketing, online video and viral marketing, publicity and PR, the Facebook Marketplace and much more!

Tim will be leading two innovative workshops on Website Design-Web Portal Magic and Social Conversation Lead Generation. His workshop on website design focuses on how to create buyer relationships through web content tools, understanding connected media and how to drive buyers to your website and how to create a successful web presence strategy.

Tim’s workshop on lead generation will take participants on a journey to discover new ways to practice online lead generation. Topics that will be covered include: how to find, qualify and convert leads, how to become part of the natural social conversation and how to inspire word of mouth online.

Speaking from his experiences running CMAEON® and Realestock, Tim will address key issues in lead generation and website design facing today’s marketplace to help participants discover how to rank higher on Google and create updated content to engage and attract buyers.

Other speakers at the event include Ross Anderson, President/Owner of nylmedia and NewYorkLuxury.com, Sarah Bonert, Director of Broker Services, Zillow and Kelly Roark, VP of Interactive Sales and Development from HGTV/Scripps Network.

For more information on Tim’s workshops or to register for the event, please check out Real Estate Marketing and Technology Academy at http://greenpearlevents.com/remartech/.

Comment (0)

A few weeks ago, we posted an entry with 10 tips on what to include-and how you should take a great set of photos to showcase your property for sale.

While I was writing that particular blog post, I stumbled upon a website known as Lovely Listing.com. Their tagline is ‘Odd Finds in Real Estate’.

After taking a look at the website, I would say that it’s definitely ‘odd finds’ in real estate.There are features, items and issues that should never be showcased in photos to sell a home and yet, are taken by actual real estate agents and homeowners wanting to sell their properties.

As a tribute to Lovely Listing.com, here’s a list of the top 10 features you should never include in photos of your property.

1. Bathrooms with uncovered windows. Now, there may be prospective home buyers who desire to have natural light and air circulating through their bathrooms. That being said, I don’t think they would appreciate having an open window in their bathroom that faces the neighbors and allows them to share the intimacy.
2. Kitchens under renovation. Understandably, many homeowners want to renovate before putting their homes on the market to boost its value. But is it necessary to include a photo time line of every step of the renovation? Buyers want to see the finished product, not the process.
3. Bedrooms with lava-colored carpeting. Now, we understand that that particular carpet color was all the rage back in the 80s. Nowadays though, buyers are interested in modern and contemporary features and lava-colored carpeting just doesn’t cut it.
4. Guns hanging next to the kitchen window. Everyone has their own interests and we’re not discriminating against anyone. But, really, guns? What if the potential homebuyer has children? Not the safe haven we all imagined our dream home would be….
5. A family barbeque on the back patio. Homeowners have lives and the right to enjoy their homes with anyone they wish. But, personal photos of your family memories really have no business being in the real estate listing to sell your home. After all, people want to imagine their family having a meal in the backyard, not yours.
6. Mold in the basement. Common sense tells us to remove all harmful substances or debris from our homes for our family’s safety. Why would you want a picture of the evidence to end up in your listing?
7. House in a bubble. I understand the desire to be creative with your photos. Really I do, but how is putting your house in an actual bubble adding to the appeal? If anything, it does lend itself quite well to jokes about the current housing market.
8. Dark photos of people. I mentioned in the previous post about being careful in including people in your photos. It doesn’t help for a prospective buyer to imagine what their new home may look like with people breaking in.
9. Outhouses in the backyard. See my above comment about the lava carpet, it still stands for this.
10. Living rooms with couches on the ceiling. Remember what I wrote in the previous post about taking a lot of photos so you can fix what’s wrong in the room? This is exactly why you should do that.

Comment (0)

You might remember a blog post where we talked about the Top 10 Tips on Property Photos. We gave the best tips that we could find on how to take-and what to include-great property photos to help sell your listings.

After thinking about it, we realized that photos are not the only element that drives a buyer to a property. So why not expand on that list? Here are the top 10 tips on how to make your listings stand out from the competition (including the photos!)

1. Photos, photos and more photos. We won’t go into detail here, only to say that the higher quality of the photos, the more appealing it is. Refer to our post about property photos for more details.
2. Include special extras. As we said before, photos aren’t the only thing potential buyers are interested in. Think about including a floor plan, maps or photos of the neighborhood to show them where they’d be living.
3. Virtual tour or not? What about a virtual tour? They show more than what photos do and allow house hunters to ‘walk’ through the property and see it for themselves. Think about whether or not there are unique features in the home that you especially want to call attention to.
4. Sales pitch. The language you use in the listing helps as well. Use compelling sales language and make your description as in-depth as possible. Highlight the features, the area and lay it out logically. It has to be accurate right down the spelling and grammar. Consider writing an intro to the listing before getting down the sales pitch.
5. Add more information. Prospective buyers are hungry for as much information as you can give them. Describe the neighborhood, talk about how the home is animal-friendly, or list the price guide.
6. Aim for the top. Look for the premium option in advertising packages. It will help position your listings higher up on the totem pole and catch the eye of more buyers.
7. Take advantage of features. Grab everything you can on paid for positioning, audio, mapping, info sheets and neighborhood data. It’ll put you ahead of the pack in terms of a complete package for buyers.
8. Dare to be different. Does your listing merit a special open house or something else?
9. Stay ahead of the game. Do your research on competition and your market. Could you utilize more features on the portal?
10. Flaunt it. Tell everyone you know about the property. Email it, blog it, tweet it, facebook it, talk about it, make phone calls about it, link to it, whatever it takes.

And finally, make sure your listing is kept 100% up-to-date, and this includes saying when it’s been sold.

Comment (0)

As house hunters scour the listings for the property of their dreams, the next best thing to viewing the property themselves is a fantastic set of photos. Photos give potential buyers visuals on what features a property has and the layout. It is the very first impression that house hunters receive of a home and it can intrigue them as easily as it can turn them away from purchasing the property. After all, pictures are worth a thousand words and a beautiful set of photos go a long way to turning a house hunter into a buyer.

There are a few things to keep in mind in order to take great photos. Here’s a list of 10 tips on how to take amazing property photos.

1. Cover all of the essential features.  Make sure you give prospective buyers every angle and shot on the essential rooms and features inside the home. Rooms that are absolutely crucial to a property and shouldn’t be left out include the bedrooms, bathrooms, kitchen, living areas and the backyard if the property has one. Also, include special features such as fireplace or pool as these could be selling points for buyers.
2. More is best. Don’t be afraid to include as many photos as possible. A floor plan is also a great inclusion if it’s possible.
3. Watch for intruders. Is there something in the photos that shouldn’t be there? Take more than one shot of an area so you can see whether furniture is misplaced or items are in a room they shouldn’t be and fix it for the next photo.
4. Watch the weather. While it’s not something you can control, photos showing an overcast sky or dreary afternoon light should be avoided. You can work around this with different camera setting or Photoshop, of course, but it is best not to overdo it.
5. Don’t leave buyers hanging. Taking a picture of only one side of the room, even if it’s to focus on the best attributes can make potential buyers wary of what’s lying outside of the frame.
6. Work different angles. Taking different angles of the same area gives prospective buyers the sense of perspective. Avoid the temptation to take crooked angle shots or use the wide angle lens, however.
7. Be careful with the flash and mirrors. Remember to turn the flash off in rooms that have lights on or if you’re taking a photo that includes windows. Also avoid taking pictures of yourself in front of a mirror.
8. Give a sense of life in the home. De-cluttering is a great idea to allow house hunters the space to imagine living in the home, but don’t go too far. Bare rooms signify a lack of care in the home, but going out of your way to include obviously constructed scenes will only give buyers a sense of falseness.
9. Know your camera settings and your tripod. If you’re taking the photos yourself, you have to understand the aperture, shutter speed and ISO to make your photos work harder for you. Shooting interiors at a slower speed for instance, makes them look better. A garden can look better in shade, and in harsh sunlight you might want to use a flash. There are courses you can take to learn more about how to make your camera work for you.
10. If in doubt, see the pros. While it is more expensive to hire a professional photographer, it could be well worth the cost.

Comment (0)

For the first time of what will now be a monthly feature on the site, we are proud to share with you this list of the 10 most viewed property listings on Realestock.com. Each month, we will be bringing you this list of properties which have achieved great popularity and exposure on Realestock to motivated buyers.

1. Mountain Spirit Resort and Spa, Kimberley, BC

Mountain Spirit Resort & Spa in Kimberley, BC is your four season Rocky Mountain playground. Combining a four season skiing mountain residence with the luxuries of a world-class spa and spectacular slope-side restaurant; Mountain Spirit allows easy access to Trickle Creek’s championship golf courses, 1800 acre natural park with over 100km of trails to explore, fly fishing, mountain biking, horseback riding and much more. The nearby Canadian Rockies International Airport makes travel to and from Salt Lake City, Calgary and Vancouver convenient and accessible.

2. Cannery Lofts Condominium, Astoria, OR

Cannery Lofts Condominium has the best river view in Astoria! Walk along the beautiful river walk or watch the ships pass by while lounging on your deck; Astoria has been named the best town to retire to, with its scenic views, quaint shops, historic homes and amazing restaurants. The brand new unit offers: 10’ ceilings, loft design, granite counters, bamboo floors, gourmet kitchen, glass window wall and gas fireplace. The identical unit is currently under construction in Phase II.

3. The Ellington, Oakland, CA

The best address in the Bay Area, The Ellington offers a lifestyle that is anything but the usual. Homes feature elevated nine and a half foot ceilings, hardwood flooring, open kitchens with Bosch stainless steel appliances, sprawling balconies and broad floor-to-ceiling window walls framing impressive Bay views. The high-rise contains an attended lobby with daily concierge services with nighttime security- in addition to a state of the art fitness center, heated pool, spa and community room with a full chef’s kitchen.

4. Dockside Green, Victoria, BC

Dockside Green is a name synonymous with environmental living and is a LEED® Platinum-targeted project. The development is an innovative community of one and two bedroom luxury condominiums, townhouses and penthouses all of which feature environmentally-friendly materials such as renewable bamboo floors, low-flow toilets and energy efficient appliances. The community features solar water heating, small-building wind turbines, a car share program, mini-transit system and a launch area for canoes and kayaks.

5. 1235 East Lake Drive, Fort Lauderdale, FL

This exquisite Fort Lauderdale estate features 20,753 square feet with 9 bedrooms, 9 full and 4 half bathrooms. A gated entry is monitored by a state-of-the-art security system with camera surveillance and infrared sensors to ensure you sleep well at night. Fabulous amenities include a state-of-the-art nightclub, putting green, gym, massage room and spa, wine cellar, infinity pool and 9-car garage. Limestone floors, a clay barrel title roof and Pecky Cypress balconies embellish the luxurious feel of this home.

6. Highbury-Tower Residences at Fish Creek, Calgary, Alta.

Like all three towers, Highbury² gets its inspiration from classical modernism. Quality building materials blend with simple contemporary forms to convey a certain level of sophistication. Highbury² offers a wide range of one and two bedroom suites on its 12 floors, all with den/media room or home office. Highbury’s private amenities building features spa and fitness facilities, theatre with tiered seating, entertainment lounge, hobby and conference rooms, plus an in-building car wash.

7. Prado, Richmond, BC

A stunning landmark in the heart of downtown Richmond, Prado is located across from Lansdowne Centre and mere steps away from the RAV Line Lansdowne station. Each unit features caesarstone countertops, hardwood laminate floors and contemporary wood cabinetry. The units contain fireplaces with granite surround and entertainment-size patios, balconies and roof decks.

8. 987 SE MacArthur Blvd.-Hutchinson Island, FL, Stuart, FL

Located on private Hutchinson Island, this fabulous, charming beach home boasts 75 feet directly on the ocean and 75 feet on the Indian River Intracoastal, with a boathouse and dock situated minutes from the Inlet! With three bedrooms, three bathrooms and 2,800 square feet, this home is private and sunrise to sunset; is the best of both worlds.

9. Colonnade at Kentlands, Gaithersburg, MD

The Colonnade at Kentlands is a luxurious new condo surrounded by shops and entertainment opportunities. Floor plans are remarkably spacious with some offering 20-foot ceilings, staircases to lofts, fireplaces and computer niches. Kitchen islands and large walk-in closets are standard features in each unit, while the building features amenities such as a pool, sauna, wine room, fitness centre, cinema lounge, pub and courtyard.

10. Kanata Ecovillage, Mont-Tremblant, QC

Kanata Ecovillage is an exclusive village offering elegant homes that include all the modern amenities such as a wine cellar and energizing spa. Located just a few kilometers from the Mont-Tremblant resort, residents have easy access to all sorts of outdoor activities, including on-site dog sledding excursions, snowmobiling, fishing, wildlife observation trips and horseback riding.

Comment (0)

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.

Mistake #2 - Hiring a Sales Agency and Branded Real Estate Broker to do a Marketers Job. In recent years, marketing real estate projects was more than just a lucrative enterprise for those who were doing the marketing - it was pure profit, plain and simple. There is a good reason for that - the best marketers got the job done.

When a luxury brokerage brand steps in and decides to become a marketing company they begin to over-leverage. Sure, they can leverage off their brand name for what seems like a quick win and surefire success, but this also means that they are leveraging off their core business. When brands experiment and begin to "know it all" (not unlike the hotelier I described yesterday), the Developer takes the hit. With a big name and a willingness to take an even bigger budget, I've watched developers dump literally millions of dollars of untraceable fancy print ads and ineffective web sites - all the while the brokers and agents who should have been motivated by selling the project, were lining their pockets with marketing dollars.

Marketing is a science - and a bit of an art. Marketing drives sales, sure, but as with any science or art (or both), this is something that is best left to experts, not amateurs (think about giving a High School Physics student the keys to the Hadron collider!). In my many years of working with the real estate industry, I've never once seen a brokerage bring in a graphic designer or copywriter to close the deal on a multimillion-dollar home; so why should the opposite make any more sense? The reason commissions exist is to get the sales team to work hard to close the sales, this is what they know and this is what they (should) do. The marketing team brings in the leads and brands the project; this is what they are paid to do. When both teams are working in their core capacity, the result is success. When the incentive model and expertise gets muddled - the result is millions spent, and a project bankrupt due to a wasted budget. I've seen this happen on a number of occasions.

Do yourself a favor. The next time a real estate brokerage says they can market your project, thank them for their enthusiasm, and offer them 2% more on the back end - so long as they carry the marketing load on the front end. Or spend your money wisely and get a marketing group and resources that brings in Quality, Quantity, and Qualified leads. Send the sales guys these leads so they can actually close the sale and earn their commission - the way they were supposed to get paid.

Comment (0)

The general consensus seems to be that the Canadian Real Estate Market is still one of the least disastrous markets worldwide. However, this doesn’t mean that this is a secure market. Sale prices are declining like everywhere else, and the current semblance of stability is only related to the fact that Canadian lenders and banks were, in previous times, much more conservative than lenders in other countries.

However, the market in Canada is by no means in the same state as it was a few years ago, which is obvious than when you look at a city like Vancouver, British Columbia. Vancouver had some of the most insanely hyper-inflated prices in the last few years, and so now that are fewer buyers, there are a distinct lack of properties being sold, and those that do sell, sell low.

On Friday in the Globe and Mail, Kerry Gold wrote an article misleadingly titled ‘First Time Buyers Drive a Rebounding Market” as it also talks about buyers who are upgrading, as well as those who are first time purchasers. One interesting point about this article, is the reminder that there are certain types of buyers who will always exist in any market, and will be the ones who will stop the it from going into complete cardiac arrest. This is, of course, as long as they are not completely scared off by the onslaught of negativity that currently invades the real estate market. Just joking:

1) First Time Buyers: If you are a first time buyer, this is a great time to get on the first rung of the ladder – but only if you are brave enough to take the plunge, and can get a mortgage. Prices are low, mortgage rates are low, and now with tax advantages ahoy, this is the best opportunity that you’ll get for a while!

2) Growing Families: When one’s family starts getting bigger, the need for more space necessitates the move to a bigger place. Last time I checked, people hadn’t stopped having children, and again, if you bought a while back, you’ll have equity in your property, and upgrading in a low market will not make much of a difference

3) Empty Nesters and other ‘downgraders’: At the other end of the scale, there are people downgrading. As long as one is moving within the same or a similar market, downgrading is not a big problem, as the gap between your lower priced large home, and your lower priced small home should be pretty similar.

4) People who are Relocating: When the job market is not secure, people will move where the jobs are, so this market is almost certain to generate a good deal of relocation. As this is born out of necessity, these people buy and sell in any market!

While this is not entirely newsworthy, it is worth remembering that these kinds of buyers exist in every market, so whatever the economy situation, there will still be these kinds of buyers to keep things going. Think of them like the superman of buyers...come to save us all from certain disaster. Which in the current bad news market is a little piece of good news. Shock horror, eh?

Comment (4)