HotPads Daily :: The Official Blog of HotPads.com

Fastest Growing Real Estate Markets on HotPads

Cnn.com recently published its list of the 10 fastest growing real estate markets where homes are expected to post price gains in the coming year.  Check out the following selections on HotPads.com and see if our foreclosure heat maps tell a more cautionary tale.

• McAllen, TX
• Rochester, NY
• Birmingham, AL
• Syracuse, NY
• Buffalo/Niagara Falls, NY
• New Orleans, LA
• Scranton, PA
• Grand Rapids, MI
• Baton Rouge, LA
• El Paso, TX

If you're not convinced that these areas are great places to buy, you can still find great apartments to rent on HotPads.

Most Ridiculous Coffee Gadget Ever

Our addiction to coffee is well-documented, and it has not gotten any better since we moved into our new office.  (We should have known that having a Starbucks in the lobby would be just as bad as having an intravenous drip installed.)

But we have to draw the line somewhere.  And that line is drawn where the Heart Beans coffee grinder begins.  This contraption, held like a baby next to your chest, grinds coffee beans to the tune of your ticker.  Luckily it's just a concept, or Doug Lewis might actually buy one.

In the meantime, we'll let the Pike's Place boys provide the fuel for the best apartment search on the web.

Thanks, Gizmodo.

GTAIV Reminds Renters to Guard against Crime

The recently released fourth installment of the wildly popular Grand Theft Auto video game series, in which carjackings, shootings and general thuggery are the order of day, reminded us that crime is one of the top concerns of tenants looking for apartments to rent.

Even if underworld vendettas don't play out nightly on their streets, renters can follow tips like demanding basic safety equipment (think peepholes) and buying an inexpensive portable alarm system to increase their safety.

And of course, tenants absolutely need to make sure that they have renters insurance.  (With enough coverage for their PlayStations, natch.)

Homeowners Hit Hard by Rising Property Taxes

As if record foreclosures and sinking property values and were not enough, homeowners across the country are now facing higher property taxes as local governments try to cover revenue shortfalls after years of booming revenues.

Real property tax is determined by the home's assessed value and the local tax rate.  Homeowners across the country are fuming because in many cases the actual market value of their property has fallen sharply while the assessed value is still at a record high.  And faced with higher fuel and healthcare costs, local governments are raising the tax rate as well.

Homes in Memphis are facing a proposed 17% hike in the property tax rate.  For many frustrated owners, rental houses are looking better every day.

Holdouts Hamper Plan to Raze 1,000 Homes

The government of Youngstown, OH is looking to bulldoze over 1,000 buildings in an attempt to save money by ceasing city services in parts of the declining town that are nearly vacant.  The few homeowners that remain are eligible for grants of up to $50,000 to relocate.

In past years, cities like Philadelphia and Baltimore have tried similar tactics to revitalize their housing markets by creating new tracts of open land for future development.  However in Youngstown, some residents of the last inhabited homes refuse to leave, even for fifty large.

Perhaps they haven't seen all the great homes for sale on HotPads.com.  Sadly, $50,000 won't even pay for lawn care at one of our Hottest Pads, which start at a cool six mill.

HotPads Partners in 2008 Fortune 1000

Fortune Magazine's annual list of America's largest corporations lists two companies near and dear to HotPads: Equity Residential and AIMCO.  Both of the real estate investment trusts showcase their portfolios of award-winning apartment communities and rental developments on HotPads.com.

For property managers looking to break into the Fortune ranks, HotPads is the place to market rentals, giving them access to one of the largest and fastest-growing housing search sites with no fees charged for listings, leads or leases.  And with those low-cost Featured Listings, no property should ever go vacant.

Check out the top ten real estate firms in the Fortune 1000 here.

Cool DC Pad in a.t. Blog Contest

Washington-based blogger Collen Quinn recently posted a great piece about her friend Grace's loft for the apartment therapy blog competition. Grace's pad would be considered hot, but it's way too cool.  Check out the floors!

But it's not for sale, so if you want one like it of your own you'll have to search for a Washington, DC apartment or condo on HotPads.com.

So vote for Colleen's entry by awarding her apartment therapy "cupcakes."  Which is kind of ironic since the staff of HotPads is now addicted to cupcakes from our new neighborhood find, Georgetown Cupcake.

Mapping Site Shows Housing/Commuting Tradeoffs

The Housing + Transportation Affordability Index is a new map-based tool, created by the Center for Neighborhood Technology, that measures the true cost of housing when weighed against the costs of transportation for 52 metro areas in the U.S.

The methodology behind the numbers is complex and the raw data is a bit outdated (taken from the 2000 Census) but the interactive maps make it easy to see which areas meet the target standards for affordability.

This can help folks decide if getting a cheaper house in the outer suburbs is worth the extra commuting expense or if the sky-high real estate prices that still hold in some city centers are unbearable.  The good news: cheap places abound on the HotPads housing search.  Find an affordable area, then see HotPads for deals on apartments, condos and homes for sale.

Props to the real estate blog at the Wall Street Journal.

Friday, and Feelin' Fine

The earnest industry reporters at HotPads Daily have to tell it like we see it, which over the past few months has meant reporting a lot of bad news.  From falling home equity to rising foreclosures, the picture painted has not been pretty.

But today we have plethora of positive posts from all corners of the economy.  Freddie Mac is injecting $15 billion into the credit market by buying mega mortgages from Wells Fargo, JPMorgan Chase and Washington Mutual.  Shares of Google rose 17% yesterday with data on strong advertising profits, good news for all websites offering online marketing.  And investors are even flocking back to i-banks with Merrill Lynch on the rise.

So instead of our usual Friday happy hour, we're calling for an entire Happy Day.  (But still with a happy hour at the end.)

Foreclosures Jump 57% last Month

Year-over-year numbers continue to paint a bleak picture for the nation's homeowners as foreclosures rose 57% over their March 2007 numbers.  The foreclosure website RealtyTrac posted data showing Nevada, California and Florida having the highest foreclosure rates.

But while the number of homes repossessed by banks are up 129%, the number of home being put up for auction increased only 32% since March 2007.  That suggests that more people are simply walking away from their mortgages and letting the lender take possession of the home without putting it up for public foreclosure auction.

You can check out foreclosure rates nationwide and in your area on the new foreclosure heat maps on HotPads.com, as well as browse foreclosures and other homes for sale on our interactive housing search.

HotPads Adds Foreclosure Listings and Heat Maps!

Shopping for a foreclosure deal or just interested in which areas of the country have the most foreclosures?  Now that information is just a mouse click away on HotPads.com!

With over 130,000 apartment and rental property listings, HotPads is one of the top two rental property search engines in America.  With the addition of homes for sale in November, HotPads is now one of the most comprehensive housing search sites on the web.  And now users can browse over 500,000 foreclosures powered by RealtyTrac.

HotPads' Foreclosure Heat Maps visually portray the markets hit hardest by the recent housing crisis and increased foreclosure rate. In the future, users will be able to track the trends of the foreclosure rates in different markets by comparing historical foreclosure heat maps on a week-by-week and month-by-month basis. This will bring a greater transparency to the housing crisis and illustrate the trends in each market.

 

84th Carnival of Real Estate- The Fools Edition

Welcome to the 84th Edition of the Carnival of Real Estate!

We are honored to host the carnival again, it is always a great and informative experience.

Well, without further ado, the staff here at HotPads have selected the top posts for the week from more than 3 dozen submissions. 

AND THE WINNERS ARE:

1. HotPads Launches Featured Listings (HotPads Daily)
2. HotPads Distributes to Even More Sites (HotPads Daily)
3. tie- HotPads Welcomes Toll Brothers and Long & Foster Is The Newest Broker on HotPads (HotPads Daily)

We'd like to thank everyone for submitting their articles and remind everyone to submit their articles for the next edition by Sunday at 3pm EST.

Oh, and APRIL FOOL'S!

Here are the REAL results... no foolin'... starting out with the top 5 articles for the week:

What is the Best Way to Buy a Foreclosed Property?
This is a great article that answers the question of the best ways to find foreclosure properties.  Nigel  Swaby walks you through all the basics of foreclosure, as well as offers some very insightful ways to locate foreclosure properties at every stage of the process.

We Salute Your, Real Estate Agent of Genius

Is it a wine cellar or a wine rack in a basement?  Well, I guess that's all in the eye of the camera holder.  Doug Willis gives a tongue-in-cheek portrayal of some real estate agents in the mode of "Real Men of Genius."  I can just hear David Bickler shouting out the chorus as the announcer proclaims " So snap open a cold Bud Light, you Ansel Adams of the basement."

The Mortgage Haiku Collage
The award for the most creative (and inspirational to boot) has to go to Mike Mueller and the 17 haikus making up "The Mortgage Haiku Collage."  Not only did he pen 17 individual thoughtful, interesting, or humorous haikus, he dropped them onto Japanese Water Colors that can easily be printed out and taped to your monitor :)

It Ain't All Pretty... But it is Darn Good Marketing!
Craig Schiller discusses the merits of staging your home, above and beyond making it 'pretty.'  Craig argues that it is a marketing decision that is "more about the process of strategically setting up (merchandising) a property in a manner that makes it not only easy for buyers to tour, but also creates a way for their eyes and hearts to connect to it with a powerfully effective first impression that lingers and stays with them.

 Strategic Real Estate Investing: The Missing Piece of the Puzzle

Scott Roemermann sets the record straight about real estate investing and the information generally available.  He outlines the problems facing the real estate investor and offers advice on having a "sound strategy at each phase of business," getting started and the growth stage.

The Stand-Outs

Solutions To A House That Won't Sell
The Money Blue Book has a great article that discusses the top 6 reasons houses won't sell, as well as offers advice on how to maximize the value of your home and position yourself to sell.

Top 10 Ways Find the Best Off-Market Deals in Your Area
DeeinAustin has a "top 10" list of ways to find off-market deals on a home, land, or commercial real estate property.  From "driving for dollars" to browsing online investor forums, she provides some great tips and insight to finding what you are looking for.

Short Sales: Four Tips to Get You an Accepted Offer

Shailesh Ghimire offers some really great advice for those who are interested in buying a short sale property, as short sales and bank owned properties are in such high demand these days.  These tips will give you a better chance of closing on a short sale property and should give you the basic information you need to get your offer accepted.

Making your home green - where to start

Nathan Blair over at the Salt Lake City Utah Real Estate Blog offers some great advice for making your home green.  From replacing the lightbulbs and shower heads and faucets to planting trees, he offers practical advice everyone (and the environment!) can benefit from.

 7 Keys for a Successful OPEN HOUSE!

Andy Hodes provides some great pointers for those who are staging an open house.  Among these are ideas on how to arrange and decorate your house, what you should provide to make them feel at home, and where you AND your pets should be during it.

Nordstroms, Directions, Site Maps And SEO?
Cliff Jacobson examines the importance of a good site map by analogizing it to Nordstrom's customer service motto of "never walk a customer."   He demonstrates the importance of providing for your customers, as well as budgeting in for SEO.  After all, he states, if If you don't show them (the customers) where to go, they'll show you where to go. An extra click, is a click away."

Real Estate Financial Model- First Development
Terry offers some sound financial planning advice for those who are entering into a real estate investment or development project.  Terry shares first-hand experience and offers a model for others to follow.

Real Estate Investing
Jeff Light gives some great basic tips, strategies and secrets for those getting involved in real estate investing.

How And Why To Consider A Purchase Money Mortgage

Joe Manausa examines "How and Why To Consider a Purchase Money Mortgage."  After all, "in today's market," homeowners need to consider all creative solutions to making their home more desirable and affordable to potential purchasers.

Power Lease Clauses for your Investment Property
How complete are your leases?  Scott discusses various clauses that you may wish to include in your lease agreement with tenants in "Power Lease Clauses for your Investment Property."  He offers some good advice and often over-looked clauses that may protect you as the property manager.

The Notables

Your Family Financial Planning --  Pasadena Financial Planner
CBB: The Art of Setting Buyer's Agency Compensation on a Listing -- Dan Melson
Sell Your House Fast and Make More Money Doing It -- American Consumer News
The Best Mutual Funds Have NO Sales Loads and NO 12b-1 Fees -- Best No Load Funds

Thank you for the opportunity to host this 84th Carnival of Real Estate.  We received a ton of great listings this week and had trouble narrowing down the field.  Next week's carnival will be hosted by Real Central VA so get those submissions in!

HotPads.com Launches Featured Listings

With our innovative map-based search,  HotPads has become one of the most popular websites for  housing shoppers, with millions of visitors looking to find that one perfect place.  And those housing shoppers have quite the selection, as we have amassed over 100,000 unique rental listings and 1,000,000 homes for sale! 

But with so many high quality listings on HotPads, housing providers have been looking for new ways to make their listings stand out.  Well, now they can with HotPads Featured Listings.

What are Featured Listings?
Featured listings are a way for housing providers to spotlight their property and ensure that our users see their property.  In fact, Featured Listings are clicked and viewed on average 5 times as frequently as non-featured listings.

We display your properties on our maps as visually stunning building icons and can't-miss preview panes:

Pricing:
Advertising is not one-size fits all.  We think that advertising should be customizable to each housing provider based on their individual demands, needs, and budgets.  Because of this, HotPads has initated a pricing plan that puts the housing provider in charge.  Basically, housing providers can specify their own Cost Per Day (CPD) for each of their properties, as well as the number of days they wish the featured campaign to last. 

"How Does It Work?"

Well, the way we determine how often to display your listing is on an "Auction Basis."  Say, for example, you set your maximum Cost Per Day for a particular listing to be $4.  Another provider in the same market with the same type of listing sets their's to be $1.  We will then display your Featured Listing 4 times as frequently as those of the person with a CPD of $1.

(If you have any questions about pricing, you can take a look at the Featured Listing page, send us an email at FeatureMe@hotpads.com, or just give us a call at 202.232.1581 and we'll help you!)

Don't forget that regular listings on HotPads are still COMPLETELY FREE of charge.  So to get the most exposure for your company, have all of your properties shown on HotPads!

Helpful Links:
More About Featured Listings
Step-by-Step Guide to Featuring Your Listings
Tracking Your Campaigns
Feature Your Listings

HotPads Distributes to Even More Sites

Property managers and real estate agents who list their properties on HotPads.com have long taken advantage of the additional leads and convenience of the free HotPads listing distribution service.  By simply posting listings to HotPads, their apartment vacancies and homes for sale are seen on over a dozen of the most important housing search sites on the web.

HotPads has recently added even more partner sites, including properazzi.com and rentBits.

As always, HotPads wants to thank everyone in the real estate community that has helped to give HotPads over 100,000 rental listings and more than ten times as many houses for sale.

Long & Foster is the newest Broker on HotPads!

If you've been hearing gongs going off around Washington, DC then the noise is probably coming from the HotPads Mansion.  We're celebrating because Long & Foster Real Estate, one of REALTOR® Magazine’s top companies, is now showing homes for sale on HotPads.com.

Long & Foster has long been known as one of the most successful real estate marketing companies and their agents are some of the best in the business.  We appreciate Long & Foster taking notice of the amazing growth in users that HotPads is having and we'll be watching as the leads come in from our audience.

For anyone in the industry needing to get more leads and close more deals, HotPads has the most comprehensive array of free and paid advertising programs for real estate and an eager audience that knows HotPads.com is the place to find your place.