Adjusting to today’s challenging real estate climate means you’re working harder, you’re more knowledgeable and, in many cases, you’re the beacon that lost consumers are desperately searching for-even if they don’t realize it.

You should be focusing on educating the general public about taking advantage of lower home prices and interest rates and new options for homeowners who must move. Furthermore, you should be letting them know that working with a Realtor is the best and most efficient way to meet their goals. Consumers need to know about the indispensible role you play in changing the fate of sellers, clearing buyer hurdles and moving real estate inventory to help turn the market around.

As a trained expert, you must be prepared to provide answers to potential customers. They likely will have reservations, regardless of what side of the transaction they’re on. When a buyer says, “I’m going to wait and see if prices come down more,” how will you respond? How about when a seller wonders, “How do I get out of a home I’m upside down on?” Straightforward, genuine responses will reveal who you are as a professional.

Start communicating your “Realtor value” message and your message about current market opportunities in your promotional materials and informational packets. The National Association of Realtors’ Public Awareness Campaign includes a full slate of timely resources, such as brochures, reports, articles and more that you can use right now to arm yourself and your customers for today’s market realities.

If you believe in your value and influence in the marketplace, your customers will too.

Margaret Kelly, CRB, is chief executive officer of RE/MAX International, Inc.

For more information, visit www.remax.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

More industry news on RISMedia.com:

Corporate Relocation Responds to the Economy 
Keeping Consumers Confident 
When the Goin’ Gets Tough - Find Some Calm, Get Organized

Right Tools, Right Now - July Offers to Help Boost Your Business

This month, take advantage of a number of products and resources being offered at-cost, including “21 Things I Wish My Broker Had Told Me”, a great book with information on helping new agents succeed in real estate and “Stage Your Home For Profit”, which provides tips to easily and profitably prepare a home for sale. New marketing resources are updated every month, so visit www.REALTOR.org/RightTools often!

REALTOR Benefits® Partner, eNeighborhoods Now Offering 50% OFF!

Are you making the most of every meeting, presentation and proposal? Now, NAR members can get all eNeighborhoods’ powerful tools, including Neighborhood Reports, CMA, BuyerTour, Flyers, e-mail marketing and a powerful IDX website for half price-and skip the setup fee. To learn more, visit www.eneighborhoods.com/NAR or call 877.363.4442 today!

REALTOR® Technology Spotlight Award

Recognize a member or staff person whose use of technology makes a difference. The first annual REALTOR® Technology Spotlight Award honors REALTOR® family members or their direct support staff who have shown excellence and vision in their use of technology. The Center for REALTOR® Technology is accepting nominations for the award until Aug. 31. Submit your nomination today. 

For more information, visit www.REALTOR.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Miss last week’s NAR PULSE? Click here.

The photo shows the living room/dining area/den of residence 3A at 120 Eleventh Avenue, measuring 50’ 11” X 29’ 0." The unit offers a 3367 square foot, 3 bedroom, 2 and a half bath home. Price: $4,500,000

RISMEDIA, July 10, 2009-120 Eleventh Avenue, the West Chelsea classic loft structure with a varied, sometimes chequered past, has been dramatically redeveloped as luxury condominiums now offered for sale by Prudential Douglas Elliman’s Leonard Steinberg and Lida Drummond.

120 Eleventh Avenue completes a decade-long dream for its developers, Gianfranco Chicco and Robert Chandler of Puissance Enterprises. They have lived and worked in Chelsea, raising their families there. They have built award-winning healthcare public relations firm Chandler Chicco Agency into a full-service global practice with such clients as Bayer, Novartis and Pfizer. Now they have built West Chelsea’s first luxury loft building in over a decade that is based on a classical structure. Prices for five of its units range from $3.8 million to $6 million, while its two-penthouse triplex homes list at $17 million.

The history of 120 Eleventh Avenue dates to the early 1900s, serving New York City as a quarry and a produce distribution center. During the Industrial Era, the building was a Life Savers Mints factory. Later, as the creative community started migrating to Chelsea, its upper floors became photographer and artist lofts while the ground floor’s tenant was a well-known staple of NYC nightlife - the notorious leather bar, Spike Bar.

After “falling in love” with the space, Chicco and Chandler bought the building in 2000 to gut renovate the space and house its growing agency. Meanwhile, other significant changes were occurring nearby.

“Chelsea Piers and the galleries had come in and were attracting more people,” said Gianfranco Chicco. “Then, the new restaurants and West Side Park came in, plus the re-emergence of the High Line. West Chelsea was becoming a family-friendly neighborhood. It made more sense to turn 120 Eleventh Avenue into a residential building.”

The partners realized 120 Eleventh Avenue’s design required special care to stand out from the “me too” boxes that were sprouting up around West Chelsea. In particular, they wanted to avoid “the starchitect syndrome” - a situation where a famous architect’s image takes precedence over a building’s beauty, honesty, and solidity. Instead, the design needed to reflect what differentiates them as developers - a genuine passion for Chelsea and its people.

In fact, Bob Chandler often talks about the mission to preserve the neighborhood he has been part of for more than 30 years. “By integrating the character and richness of prewar Chelsea into a space with all manner of modern services, the residents of 120 Eleventh can enjoy the integrity and charm of old New York with the ease and convenience of living in our digital age,” he said.

James Harkrider of Studio D+ Form had developed the office space on West 15th Street that houses Chicco and Chandler’s public relations agency. For 120 Eleventh Avenue, he shared their vision of placing attention on its design heritage.

“Our challenge was to gracefully merge 21st Century home living into a 20th century classical building envelope,” said Harkrider. “The design had to retain existing elements within the modern palette. It also had to be done in such a way that they complimented one another.”

Harkrider’s approach included the thoughtful application of technology, materials and landscape. Also shaping the design was the opportunity to use the building’s setting between the Hudson River and the High Line. The completed residential building offers both great views and quality of light, while adding character to the Manhattan skyline.

Now on sale, 120 Eleventh Avenue has five loft residences and two penthouses. They range from a 3,313-sq. -ft. 3-bedroom, 2 ½-bath unit to a 4,017 sq. ft. half-floor unit to a 4-bedroom with study and 3 ½ baths. Each features expansive interiors with 10 ½ -foot ceilings, oversized windows, restored original hardwood floors, cast-iron columns and vintage brick walls. The two penthouse triplexes are, respectively, 5-bedroom, 6-bath 6,519-sq.-ft., and 4-bedroom, 4-bath 6,557-sq.-ft. homes with gigantic terraces. The dramatic impact of each is highlighted by 20-ft. ceilings and a wall of glass that overlooks the Hudson River.

All residents have direct elevator access, pocket doors through-out, private on-site storage space, spa-like windowed bathrooms with finishes by Boffi and Ann Sacks, and kitchen details that include Miele, Gaggenau, and SubZero appliances. Amenities include daytime doorman and 24-hour “virtual doorman” service, and one-year complimentary membership to Chelsea Piers for two residents per home.

For more information, visit www.120eleventh.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

RE/MAX agents are uniquely qualified to manage foreclosures and distressed properties as more RE/MAX Associates have earned the Certified Distressed Property Expert® (CDPE) designation than agents from any other national real estate network. The CDPE training, through The Distressed Property Institute, gives RE/MAX agents the expertise to assist buyers and sellers of REO and distressed properties.

“The new partnership with RealtyTrac is about adapting to today’s real estate market,” said Kristi Graning, senior vice president, Information Technology and eBusiness for RE/MAX International. “In addition to the training they’re receiving on distressed properties, RE/MAX Associates can leverage the RealtyTrac foreclosure information and inventory on remax.com to help their buyers and sellers make informed decisions.”

RealtyTrac averages approximately three million unique monthly visitors. Through the subscription, RE/MAX agents have access to foreclosure information - including properties in default, properties scheduled for public foreclosure auction and bank-owned properties - along with foreclosure loan information, tax assessment information, comprehensive lien and loan history and neighborhood home sale trends.

“We are very pleased to be working with one of the world’s leading real estate brands and are excited to be providing RE/MAX International with foreclosure data,” said Rick Sharga, Senior Vice President for RealtyTrac. “Together, we believe we can have a positive impact on the national housing market by providing RE/MAX Associates with vital information they can use to help their customers with foreclosures.”

For more information, visit http://www.realtytrac.com and http://www.remax.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

More headlines on RISMedia.com:

Keeping Consumers Confident
When the Goin’ Gets Tough - Find Some Calm, Get Organized 
Working the Foreclosure Market - 5 Things You Need to Know

“Consumers face such a glut of conflicting information about homeownership, it’s often tough to know what advice they can trust,” said NAR President Charles McMillan. “As the first and best source of real estate information, NAR knows that all real estate is local, which is why we are partnering with 77 WABC. We’re thrilled to join WABC’s Saturday lineup in the number 1 market in the country.”

Real Estate Today will cover the spectrum of benefits and challenges of homeownership, offering listeners a go-to spot for information about their home, from expert advice on buying and selling to remodeling and landscaping to the state of the current market and home financing issues.

“We’re pleased to have Real Estate Today join the WABC family,” said Steve Borneman, WABC president and general manager. “Hosted by the highly respected Gil Gross, Real Estate Today provides relevant, targeted information to the weekend audience and delivers real estate news our listeners can use.”

“Few issues affect families as close to home as those related to real estate, and that’s particularly true today,” said McMillan. “Market trends, legislative and regulatory actions, and financial developments all affect homeowners, buyers and sellers, and this show will inform and educate listeners about the biggest investment most of them will ever make. Realtors® have been bringing America home for the past 100 years, and now they are delivering their expertise and local market knowledge over the airwaves.”

For more information, visit www.REALTOR.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

More industry tips, topics, and headlines:

Working the Foreclosure Market - 5 Things You Need to Know 
So, You Want to Be an REO Agent? 
The Do’s and Don’ts of Short Sales

“We credit a lot of our success today to conversions - competing brokerages converting over to the RE/MAX network because of our strong value proposition,” said Dave Liniger, Chairman and Co-founder of RE/MAX International. “Broker/Owners and Sales Associates realize that in today’s market, training and education, such as that provided by RE/MAX University, are more valuable than ever. By aligning with the RE/MAX brand, these former competitors know they are joining a network of nearly 100,000 Sales Associates worldwide, and a nationally-recognized brand with more than 36 years of success behind it. We’re thrilled to have each and every one of them working with us.”

In recent months, RE/MAX has seen a number of agents and brokerages join the network all across North America:

- Scott Dobrin Realty joined forces with RE/MAX Metro in Staten Island, NY. Dobrin, former owner of the largest Exit Realty office in New York, brings nearly 40 Sales Associates to RE/MAX with him.
- Century 21 Wittney Estates in Massapequa, NY is now RE/MAX Wittney Estates, led by Broker/Owners Richard and Beth Witt. This office brings with it more than 50 Sales Associates.
- Deerbrook 1st Windsor County Realty in Ontario was acquired by RE/MAX Preferred Realty. Broker/Owner Glen Muir says the addition of the new office boosts his firm’s market share to approximately 50%. Muir now has five offices and nearly 120 Sales Associates.
- A two-office Vancouver, BC brokerage with more than 180 Sales Associates - converted to RE/MAX. Bjorn Soolsma and Deborah Stevens are the Co-Broker/Owners of the newly renamed RE/MAX Results.
- Prestige Real Estate Group, a major independent real estate brokerage in Denver with 250 agents, merged with RE/MAX Professionals, creating the third-largest real estate firm in Colorado.
- Two top-performing Keller Williams teams in the Dallas-Fort Worth area have jumped to RE/MAX, opening a new office. Broker/Owners Tim Nystrom and Larry and Laurie Wall have opened RE/MAX Heritage in Keller, TX.

“Clearly, successful agents are choosing to align with a company that knows how to perform in any real estate market,” said Liniger. “RE/MAX is equipped to withstand the market conditions we are facing today, and there’s no stopping our tremendous momentum.”

RE/MAX Associates have taken the current real estate market by storm. Over 5,000 Sales Associates have received the Certified Distressed Property Expert designation, positioning themselves as foreclosure and Short Sale experts. Recently, a RE/MAX sales team was the highest-ranked real estate team, and RE/MAX teams overall held six of the top 11 spots in the prestigious Wall Street Journal-LORE Magazine Top 400 ranking. In the category of closed transactions by individual agents, RE/MAX Sales Associates captured three of the top 10 positions.

The performance of RE/MAX Sales Associates has also been recognized in other recent surveys. In the “RISMedia Power Broker Survey,” RE/MAX Sales Associates were also ranked the highest of all national real estate franchises, averaging about 12 transactions each, nearly 33% higher than the next ranked competitor.

For more information please visit www.remax.com.  

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Krolik succeeds Move’s Chief Financial Officer Lew Belote, who plans to assist with the transition through September 4, 2009.

“Rob brings an outstanding track record of success to his new role at Move and I look forward to having him become a key strategic member of our executive team,” said Steve Berkowitz, chief executive officer of Move, Inc. “He brings a unique financial and business perspective to the Company that I’m confident will be invaluable as we move rapidly towards our next level of growth.”

Prior to joining Move, Krolik served as vice president, global finance operations at eBay, Marketplaces division. While in this role, Krolik led efforts to restructure the company’s financial architecture, resulting in a realigned cost-structure that enabled the company to achieve greater scale. In addition, Krolik also served as head of finance for eBay’s Marketplace International business. Prior to eBay, Krolik served as vice president and chief financial officer at Shopping.com in which he played an important role in the company’s initial public offering, and he was also instrumental in leading the company’s sale to eBay in September 2005. In addition, Krolik served as chief financial officer at DigitalThink from 2001 to 2004 and previously at Karna LLC from 1999 to 2001.

“I’m excited to join Move’s talented leadership team of executives at this pivotal point in the Company’s history,” said Krolik. “The tremendous level of optimism, energy and talent at Move were significant reasons influencing my decision to take on this new role. I’m looking forward to developing opportunities that will benefit our customers, shareholders and employees.”

Krolik began his career in 1991 at Arthur Andersen LLP before moving to SRI Consulting as director of finance from 1997 to 1999. Krolik holds a Bachelors, Business Administration from the University of Texas at Austin and is a certified public accountant.

For more information, visit www.move.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Reynolds brings a lifelong experience of the real estate industry to Howard Hanna as former President of Realty One in Cleveland, Ohio. During the last eight months, she has led the transition team of merging the two companies after Howard Hanna acquired Realty One in November of 2008. Her knowledge of day-to-day real estate brokerage and consumer insights will be instrumental in her creativity and leadership and serve as one of the keys to Howard Hanna’s success in marketing and advertising.

Barbara Reynolds can be reached at the company’s Cleveland home office - 4141 Rockslide Road (216-447-4477) and at their downtown Cleveland location - 800 W. St. Clair Avenue (216-328-2500) or via e-mail at: barbarareynolds@howardhanna.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

The Coldwell Banker® billboard featured above the W Hotel in Times Square encourages people to use their mobile phone to text the word “homes” and any zip code to the number, 30241. Within moments, the billboard will display the highest-, median- and lowest-priced properties in that area. They will also receive a text from Coldwell Banker Real Estate directing them to a link with more information. To see how the interactive billboard works, please visit http://www.youtube.com/watch?v=TEVs1ANgXvI.

“Times Square represents the epicenter of creative marketing, and as people from around the world take in the bright lights of the big city, they can also send a simple text to get real estate information that’s relevant to them,” said Michael Fischer, senior vice president of marketing, Coldwell Banker Real Estate LLC. “Consumers want quick access to online listings and this campaign reinforces how easy it is to find listings and information, anytime, anywhere.”

Coldwell Banker Real Estate also incorporated elements from its “Portraits” Campaign into the campaign, which features portraits of the company’s dynamic (albeit deceased) founders, Colbert Coldwell and Benjamin Arthur Banker, who started the company back in 1906. The founder portraits will offer humorous quips on the Big Apple and modern-day technology, mirroring the commentary they provide in current Coldwell Banker commercials.

The unique, interactive billboard is the most recent undertaking in a series of industry “firsts” Coldwell Banker Real Estate has initiated. In September 2008, Coldwell Banker Real Estate became the first full-service national real estate brand to launch a customized online platform for iPhoneTM users. They continued to steadily pave the way in innovation by also being the first to launch an application for Microsoft Surface (March 2009). In May they became the first real estate company to launch a branded YouTube channel, Coldwell Banker On Location.

For more information, visit www.coldwellbanker.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Read more real estate headlines on RISMedia.com:

The Key Numbers You Must Track to Sell More Homes 
How to Rank the Quality of Your Leads 
How Real Estate Agents Can Sell More Homes by Studying Demand

“The Pinehills is the perfect community for our third annual HGTV Green Home because it allows us to showcase the latest cost-efficient, accessible and eco-friendly approaches to living that can be incorporated into any home,” said Jim Samples, president of HGTV.

Viewers can enter for a chance to win the HGTV Green Home Giveaway grand prize package during the entry period from April 16 - June 4, 2010.

“This will be our first HGTV Green Home in a New England location, which gives us the chance to demonstrate the best building products and practices uniquely suited for the charm and challenges of a northeast climate,” said Jack Thomasson, HGTV House Planner. “As an added bonus, The Pinehills offers desirable features and amenities such as beautiful wooded lots, walking and nature trails, a swimming pool, three championship-caliber golf courses and the many attractions of The Village Green with its shopping and health/fitness facilities.”

Starting next April, fans can visit HGTV.com for a virtual tour of the home or they can see a televised tour during the HGTV Green Home 2010 special on Sunday, April 18 at 8:00 p.m. ET/PT.

“We’re honored that HGTV has selected The Pinehills as the location of its 2010 HGTV Green Home,” said Tony Green, managing partner, Pinehills LLC. “The Pinehills community is based on a vision that protects the natural environment in a variety of ways - from preserving 70% of the land as open space to providing miles of walking trails to connect neighborhoods to shops and services at The Village Green. The HGTV Green Home will be constructed by MacKenzie Brothers, one of the outstanding custom home builders at The Pinehills.”

For more information, visit www.HGTV.com or www.pinehills.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

More consumer headlines on RISMedia.com:

Saving Plenty - Tips from the Coupon Queen 
Retire, and Be Happy - The 7 Keys to a Successful Retirement 
Going, Going, Gone - The Key to Peace of Mind before Bidding on Properties

Six months, two price cuts and a handful of low-ball offers later, they are still trying to sell.

“We are not in a rush, and we have a bottom line,” Jeff Wortzel said. “We can’t go to the next house until this one sells, and if we want to move, we have to be patient.”

The stasis the Wortzels find themselves in-hoping to buy another home, but needing to sell their own home first-pretty much sums up Tucson’s resale housing market: Foreclosures are king, and traditional sellers struggle to compete.

“This is one of the roughest resale markets that I’ve ever seen,” said prominent “green” builder John Wesley Miller, who is trying to divest a four-bedroom, three-bath Foothills home that he took in trade about a year ago as part of a sale.

Miller first listed the home at $450,000, which was right at the appraised value at the time. A year later, he’s down to $375,000, the new appraised value.

“It’s a two-story, but at $375,000 for a Foothills house it’s a cheap price,” he said. “So I am encouraged that we are going to be able to sell it probably in the next month or so.”

Listing brokers say the key to selling a home in this down market is to be realistic about pricing, something many homeowners, who saw their values surge during the housing boom, just aren’t willing to do.

In many cases, sellers might be better off pricing low, which could potentially lead to multiple prospective buyers bidding on a property, the brokers say.

“To bring a home on the market and just chip away at the price, what happens is buyers start saying, ‘Gosh, there is something wrong with that house,’ ” said Rosey Koberlein, CEO of Long Realty Co. “The danger in today’s market is if you are overpriced, even in the smallest percentage, what you are doing is helping your neighbor sell their house.”

Competing with foreclosures

The Wortzels knew what they were getting into when they decided to put their home, near East Elm Street and North Country Club, on the market.

They knew about the glut of foreclosures and declining values. But having bought their home in 2004 for $215,000, they had some equity to work with and saw an opportunity to move into a bigger home.

Over the span of about 40 showings, they’ve dropped the price from $285,000 to $255,000. That still puts the home at $177 a square foot, but in their view they have pretty much hit a bottom price point that would allow them to move up. The listing price, their brokers said, is below the comps.

“Every proceed from this house is a down payment,” Jeff Wortzel said, sitting at their dinner table at sunset recently.

The hardest part about waiting for a buyer?

Keeping the home clean day after day with two small boys.

“We have a system,” Cheryl Wortzel said. “Everything has its place, and the night before we put it all away.”

With so many foreclosures on the market, the low-ball offer is in vogue as potential buyers try to leverage the market for a better price.

“There are a lot of bottom feeders in town trying to steal property,” said Miller, the builder.

But neither Miller nor the Wortzels are desperate to sell. The Wortzels like their home, its prime location and updated kitchen and large backyard.

Miller has plenty of equity in the home, and is in no rush to sell.

It’s easy, though, to understand why buyers would try to leverage the market to score an exceptionally low price-even if the home is already priced at market rate.

Foreclosures have been making up about a third of all resales in the Tucson market, and the median sales price for a bank-owned home in May was $122,000, said housing analyst John L. Strobeck, of Bright Future Business Consultants.

Meanwhile, the median sales price for traditional resales-without foreclosures-in May was $180,000.

And the foreclosures keep coming. This year there were 2,000 more foreclosures in Pima County through May, and more than 5,000 properties in default, putting them in imminent danger of foreclosure, numbers from the Pima County Recorder’s Office show.

Signs of stability

Although the foreclosure wave has been strong and steady, Tucson’s housing market has seen some positive, stabilizing signs over the past few months.

The median home price has been steady, hovering around $165,000 since December, according to the Tucson Association of Realtors Multiple Listing Service. Back in May, it jumped to $170,000.

Meanwhile, the number of homes for sale has continued to fall, dropping to 6,506 in May.

But much of the market activity has been happening at the lower price points where, no surprise here, many foreclosures are selling.

What this means is while there are signs the housing market might be forming a bottom, it could be some time until “move-up” buyers start buying more expensive homes.

“There are probably two parts to this,” said University of Arizona economist Marshall Vest. “The first is I can see light at the end of the tunnel. That is housing prices are getting to level off, and they are no longer in free-fall. The second part is those very expensive houses, that market is pretty much moribund still.”

Aggressive pricing

Tell Bill Castaneda about moribund.

His Northwest Side home has been on the market for 18 months. During that time, he’s dropped the price from $339,000 to $250,000, moving with the market.

“We are at that point where that’s about it,” he said. “We’ve hit that rock-bottom price.”

Castaneda put his four-bedroom, three-bath home up for sale after he and his ex-wife separated. He knew about the challenges in the market, watching as foreclosures would pop up in his neighborhood and then sell at fire-sale prices.

“There was a lot there, but most of them have been picked up and purchased,” he said.

The house is gaining some interest since the price has dropped to $250,000, or $109 a square foot, but because of the length of time on the market, Castaneda is probably battling not just declining prices but also questions about why the house hasn’t sold.

“Buyers are aware of the market, and they expect to get great deals,” said Rob Lamb, a listing broker with Long Realty who has the highest number of listings in the metro area.

The only exceptions to aggressive pricing, Lamb said, are when homes have “excellent location, or great condition.”

On those homes, “you can still get top dollar,” he said.

Finally, holding out for a high price may in the long run cost sellers who are looking to move up, Lamb said. “If you did sell for what in your mind was a loss, and you were able to buy a better house, you are going to appreciate more equity in that,” he said.

Castaneda and the Wortzels seem to think they’ve hit their own bottom point for pricing. Time will tell, though, if the market agrees.

Suffering Sellers

It’s a tough market in which to sell a home, but sometimes sellers make it harder on themselves. Here are some seller tips, courtesy of Rosey Koberlein, CEO of Long Realty:

–Don’t assume if you price high, you can always come down once an offer is made. Price too high, and offers won’t get made. Prospective buyers will move on thinking the seller is unreasonable. “Buyers want to see something competitively priced to give them a reason to make an offer,” Koberlein says.

–The most important time for a home is its first two to three weeks up for sale. That’s when the most potential buyer activity will take place on a listing. “That’s why it really needs to be competitively priced. We have homes right now where we are experiencing multiple offers,” she says. Price the home too high and it will sit on the market, and prospective buyers will assume something is wrong with the property.

–Have your listing agent show you comparable homes on the market. That way, sellers know what they are competing against and can price the property more accurately.

Financing

Prospective buyers shouldn’t be surprised by tighter financing.

“About the only mortgage money out there is for conforming loans,” says University of Arizona economist Marshall Vest. “There isn’t any money available for jumbos (loans of $417,000 and up).”

Milton Dellossier, of Wells Fargo Home Mortgage, says there is money to lend to prospective buyers. He said buyers can either pursue FHA loans, which require 3.5 percent down, but in most cases they should expect to put 20 percent down.

“Essentially we are going back to the way we did things a few years back,” he said.

Prospective buyers will have to show proof of income, make a down payment, get a full appraisal and go through a credit check.

The bottom line: Because Arizona is a declining market, some kind of down payment will always be required.

Did You Know

Home sellers have a patron saint.

For generations, home sellers have buried 4-inch statues of St. Joseph upside down in their front yards, next to their for-sale signs, hoping he’ll help. A prayer must be said, too.

The statue costs about $6 and comes with a prayer card and instructions. Susan Dowler, owner of Sonoran Saints, says sales are way up in these tough times. She buys 400 saints at a time, and usually sells out in about six weeks.

“I would say people are trying more. They only need one, but some people are buying four or five to try to sell their house,” Dowler said.

Copyright ©2009, The Arizona Daily Star, Tucson
Distributed by McClatchy-Tribune Information Services.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

More home seller tips and topics on RISMedia.com:

Home Sales Advantage - Fiber-Based Broadband 
Saving Plenty - Tips from the Coupon Queen 
5 Pro Tips Designed to Help You Move

There are a lot of choices and decisions you’ll need to make, and the choices you make will be driven by your vision. You will also need to analyze the market to determine if your vision can be profitably operated.

In my vision, I saw the brokerage office more as a regional hub where technology would fill the void created by physical distance. My goal was to build a compact office meeting the needs of agents who were working distant markets

When I analyzed my market place, I realized that there were way too many offices. My marketplace averages around 3,000 resale closings per month. A handful of top producer teams account for a significant number of these, and yet, we have had as many as 120 national brand offices in the market at one time.

Add to that the regional powerhouses, the single office multiple agent companies, the mom and pops, the lone rangers, and brokerage ownership poses the same obstacle as real estate sales. I don’t care how strong the brand, if you put a Quizno’s, Togo’s, Subway, and a Sub-marina all on the same block, none will survive.

As recently as the mid 1980s, you could open a typical strip-mall, single bay of 1200 square feet for about $10,000 and operate it for $12,000 - $15,000 per month. The industry continued to believe that you needed to house sales people in their own cubicles. According to the National Association of Realtors, an agent needed a minimum of 60 square feet of space in order to be productive. Offices kept on getting larger and larger, yet most were half empty.

As the trend toward home offices continues, the role of the bricks and mortar office is also evolving. As a result, so is the role of the broker.

Among the reasons that agents strike out on their own is the feeling that the broker keeps too much for too little, a desire to recruit train and mentor others, or frustration with either the management or bureaucracy of the firm.

Whatever your motivation, you have many options to from which to choose. Over a sixteen year period, I owned and operated both a RE/MAX franchise and the first Keller Williams in California. More recently, I have been an independent.

Will you be a lone ranger or leading a posse? If you intend to simply act as broker for your own business, you’ll have different needs than someone planning to open a multiple agent, full service office.

In fact, you aren’t really in the same business. Being a broker on your own transactions is different than recruiting, training, motivating, and supervising agents.

Building a multi-agent office offers some different approaches: will you be building your own brand or leveraging an existing brand by acquiring a franchise?

Will you be a boutique or maybe a virtual office with agents working from home?

No matter what you decide, you will be making commitments and taking risks.

Here are some points to ponder before you get too far:

- What is your vision? Do you see yourself continuing to perform the functions of a salesperson, building a data base and marketing for referrals, or do you see yourself sitting in the back office, stacking the blizzard of deposit checks pouring in from the flurry of activity of your three hundred crack salespeople?

- Whose brand will you leverage? Are you already an established name with a steady stream of referrals, or did you just carpet bag into town from points unknown?

- What is your business model? Before you can do a pro forma to see if your plan can produce a profit, you have to decide what kind of company you intend to be.

- Does the model fit the market?

- If you intend to maintain a bricks and mortar office, things like location, size, parking, signage and terms will need to be addressed.

- Do you have a niche or a unique market strategy?

If your primary reason for starting your own company is to increase the profitability of your personal business, you might be just as well off staying where you are. If you believe your remuneration is unfair, talk to your existing broker about ways to increase your earnings. The increased expenses and risk associated with becoming a broker of record are frequently underestimated.

If, on the other hand, you want to leverage your ability and energy by developing a sales force, you must take into account the far greater risks and expenses, as well as, the very real possibility that your brokerage will be unable to capture the necessary market share to be profitable.

If you haven’t had the experience of recruiting and leading a sales force, you might want to apply for some management positions that would allow you to gain that experience.

Franchises offer a somewhat established brand and a package of tools that they assume a broker or an agent might want. The brand strength varies from community to community. It is really more of a recruiting tool than a customer creator, and the tools tend to be expensive in terms of what you get.

In my own experience, participating in franchises proved to be more of an impediment to growth and profitability than a help. Despite the assertion that a franchise will help you make a profit, the truth is that they have determined what the profit potential is and take it right off the top in the form of franchise fees. I also had representatives of the franchise company conspiring with others to takeover my “protected” territory.

However, if you do see benefit in franchise ownership, the very issue of protected territory becomes key to your success. By selling more franchises than the territory can support, franchisors force their own brokers to eat each other. While that helps build their brand for the recruiting wars and increases their profitability, it does not reflect concern about the financial risks their brokers are taking on their behalf. Proceed with extreme caution.

Finally, there is the question of does your vision fit the marketplace? During the boom of the recent past, a company burst on the scene with a discount model called “I PAY ONE.” The implication is obvious even if the name is inaccurate.

Initially I PAY ONE listed properties for four percent, offering the cooperating broker three percent for producing a buyer and one percent going to them. But, as bidding wars developed, they decided to offer the buyer’s broker a scant one dollar.

Then, as the market tanked, I PAY ONE was the first to fail. When you need expertise in a tough market, you have to pay for it. There isn’t really a market for a company called “I PAY SIX”.

Going it alone offers many opportunities, but also carries risk commensurate with the size of your vision. If you are determined to strike out on your own, do your homework. Like a lot of things, it looks easier than it is.

George W. Mantor is known as “The Real Estate Professor” for his wealth building formula, Lx2+(U²)xTFP=$? and consumer education efforts. During a career that has spanned more than three decades, he has amassed experience in new home and resale residential real estate, resort marketing, and commercial and investment property. He is currently the founder and president of The Associates Financial Group, a real estate consulting firm.

Mantor can be reached at GWMantor@aol.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Speaking on behalf of Florida’s Realtors, Shelton explained the impact of property insurance costs on real estate sales, the “linchpin of a healthy economy.” She told lawmakers that mortgage lenders demand insurance coverage; therefore, the high cost of insurance directly impacts how much a buyer can afford and eventually hurts property values.

“Florida Realtors believe that now is the time for Congress to consider a national natural disaster policy,” said the FAR president. “(We) would like to see a healthy and vigorous debate… I am very proud that Congressman Ron Klein (D-Fla.) introduced The Homeowners’ Defense Act of 2009 with more than 40 co-sponsors from 21 states… H.R. 2555 is a new and refreshing approach in providing more than thirty states with the opportunity to pool their risk of natural disasters.

“We are also very excited about the U.S. Department of Housing and Development (HUD) program to provide grants to states and local governments that develop, enhance, or maintain programs to prevent and mitigate losses from natural catastrophes. Florida Realtors have long advocated increased mitigation efforts at the state and federal level.”

In addition to FAR President Shelton, the subcommittee heard testimony from Robert Delefsen, president of the National Association of Mutual Insurance Companies; Colleen Repetto, director of Fair Insurance Rates in Monroe; former state Sen. Steve Geller; Ray Spudeck, chief economist for the Florida Office of Insurance Regulation; and Vicki Williams, outreach coordinator of My Safe Florida Home.

For more information, visit www.floridarealtors.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

More real estate headlines on RISMedia.com:

A Gift at the Right Price 
How Does Yield Spread Help Buyers Buy? 
Confronting New Appraisal Rules, Impact on Housing

Residents at 500 Fourth Avenue will be greeted by a dramatic double-height lobby featuring an inlaid trail of river rocks, limestone flooring, backlit white onyx and suede-wrapped wall panels surrounding a striking fireplace. The 24/7 attended lobby will boast storage space for cold and dry storage deliveries and provide access to the building’s on-site parking garage.

500 Fourth Avenue will feature 156 studio-, one-, two- and three-bedroom residences ranging in size from 539 to 1,456 square feet and priced from $342,000 to $1,077,000. The building will also feature an approximate 3,000 square-foot duplex townhouse priced at $1,426,000, providing a unique opportunity to own a new-construction townhouse in this historic Brooklyn neighborhood. All homes will benefit from a 15-year, 421-A tax abatement.

Sun-drenched residences will feature high end finishes throughout which consistently include exquisite limestone, Italian marble, and rich natural white oak flooring. Kitchens feature a full Viking appliance package complete with commercial-grade ovens and separate cook tops, French-door refrigerators with filtered water system, microwaves and dishwashers. Manhattan Calacatta honed marble countertops and custom-made grey oak hardwood cabinetry with space saver pullouts and soft-closing drawers are set against a stunning snow and ice honey Onyx and frosted glass backsplashes. All residences will be wired for telecommunications and will be equipped with a Unitone video intercom system allowing seamless communication with the full-time doorman, emergency personnel, and taxi service at the touch of a button. A majority of residences also boast spacious balconies.

Spa-like master baths are adorned with polished Gaudi marble floors and walls of Lagos gold-honed limestone with accents of mosaic toffee and shimmering millennium glass. Larger units offer double sink vanities with separate Zuma soaking tubs and frameless glass shower stalls.

“500 Fourth Avenue features everything a home buyer could want; incredible amenities and services, exquisite high-end finishes, set in one of New York City’s most sought after neighborhoods, while maintaining low common charges, a 421-A tax abatement, all at unbelievable prices, providing excellent value.” said Joyce Kafati-Batarse, Senior Vice President of Prudential Douglas Elliman. “Every detail of the building was meticulously planned offering a true home for residents.”

As an extension of each home, 500 Fourth Avenue will offer an extraordinary 5,000 square feet of amenity space. The Club 500 lounge allows residents to have the ideal space to host a social event, business meeting or private screening and will boast a large LCD television, kitchenette, plush seating and a gaming area with a pool table, all of which can be sectioned off to suit all of residents’ entertaining needs.

Adjacent to Club 500 will be a 2,500-square-foot landscaped terrace, perfect for entertaining or as a respite from the stresses of everyday life. Boasting stylish seating and sophisticated landscaping, the terrace is the perfect location for friendly gatherings, or quiet retreats.

At 500 Fourth Avenue concierge services will also be available to all residents to assist with everything from move-in services; preferred restaurant, hotel and night club reservations; tickets for theater, concerts and sporting events; massage/salon bookings; referrals for interior design, nutritionists and contractors; housekeeping; childcare; in-home catering and more.

Additional amenities at 500 Fourth Avenue include a state-of-the-art fitness area; solarium for yoga, dance, meditation and stretching; and a children’s playroom.

Park Slope, long-known for its charming streets, historic buildings, top-rated restaurants, bars, and shops as well as close access to Prospect Park, Brooklyn Academy of Music, the Brooklyn Botanic Garden, the Brooklyn Museum, the Brooklyn Conservatory of Music, and much more, offers endless possibilities for entertainment, dining and leisure. Accessible on every level, 500 Fourth Avenue is steps to the F, M and R subway lines and gives residents easy access to the Brooklyn-Queens Expressway. Nearby Atlantic Terminal also provides connections to the 2, 3, 4, 5, B, D, N and Q trains, as well as to the Long Island Railroad.

The Kafati-Batarse Group at Prudential Douglas Elliman is the exclusive marketing and sales agent for 500 Fourth Avenue.

For more information, call 888.321.5004 or visit www.500FourthAve.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

“Realtors are busy people,” says NATIONAL ASSOCIATION OF REALTORS® (NAR) President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Realtors FCU offers convenient, accessible financial services to our members when and where they need it. Realtors FCU is friendly to Realtors and truly a partner that members can trust.”

Dedicated to the Unique Financial Needs of Realtors

Realtors FCU, a new partner in NAR’s Realtor Benefits Program and a major component of NAR’s Second Century Initiatives, offers a full range of products supporting the professional and personal interests of Realtors.

“What makes us unique is that we understand Realtors,” says Realtors FCU President Tom Glatt. “They are who we serve. We understand what it means to run a small business or sole proprietorship and the peaks and valleys of the revenue cycle.”

100% Virtual Credit Union

The first completely virtual credit union, Realtors FCU opened for business on May 1, 2009. To accommodate Realtors’ busy schedules, the credit union is open seven days a week, offering 24-hour online account access and member care that provides friendly service and trusted advice by phone or online. Members also have access to thousands of surcharge-free ATMs nationwide and secure online banking and bill pay.

“We’re not some lumbering giant like a big-box bank,” explains Glatt. “I used to work with the Navy, and the admirals used to say that it takes eight miles to turn around a battleship. We’re more like a speedboat. We’re getting instant feedback from members and can turn around on a dime to respond immediately to their needs.”

Full Range of Financial Products and Services

Realtors FCU offers competitive rates on savings and lending products, access to surcharge-free ATM networks and many additional services for members. These include traditional and money market savings accounts; fee-free eChecking with overdraft protection and MasterCard® Debit Card; flexible personal loans and lines of credit; new and used vehicle loans; home loan financing; home equity loans and credit lines; and share certificates. Funds are federally insured to at least $250,000 and fully backed by the U.S. government.

More Services in the Future

Realtors FCU is growing quickly and has a number of products and services planned for the future, including Rewards Checking accounts, Health Savings Accounts (HSAs), Individual Retirement Accounts (IRAs), Simplified Employee Pension Plans (SEPPs) and business services.

More Information

NAR members and their families are eligible to become members of Realtors FCU and access their unique financial services. Apply online at REALTORSFCU.ORG.

About the Realtor Benefits Program

The Realtor Benefits Program is offered as a benefit of NAR membership. NAR has partnered with industry leaders to provide Realtors with value-added offers and significant savings on products and services they use every day.

For the most up-to-date list of Program partners, please visit www.REALTOR.org/REALTORBenefits.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

More industry headlines on RISMedia.com:

It’s Not Easy Being Green - Industry Leaders Accept the Challenge 
The New First-Time Home Buyers - How to Cultivate Their Business 
If I Were a Newbie - Guidelines to Hit the Ground Running in Real Estate

Home affordability, as defined by the National Association of Realtors’ Housing Affordability Index, stands near all-time highs, thanks to declining prices and historically low mortgage rates. Yet, while some consumers hold off on purchases as they attempt to catch the home-price bottom, they could miss the mortgage-financing opportunity of a lifetime.

Consider the weekly average yield spread between Fannie Mae’s 6.5-year bond to the “benchmark” 10-year Treasury note, a classic relationship that involves the cost of making mortgage loans to consumers. Before disarray in the financial markets, the spread ran about 1% above Treasury bonds, reflecting investors’ confidence that owning debt of bonds backed by Fannie and Freddie is nearly as safe as owning government bonds.

The spread began widening in July 2007 as the global financial crisis unfolded, then spiked to above 2% during the next year as the U.S. economy seized and credit grew scarce. It grew to a startling 2.5% late last year as bond investors’ skittishness about continued delinquencies and defaults-and that the risk of these mortgages had not been properly assessed-resulted in higher risk premiums and higher costs to borrowers.

Late last year, however, the Federal Reserve Bank stepped in with a promise to purchase $500 billion in Fannie Mae, Freddie Mac and Ginnie Mae mortgage-backed securities, and raised that figure to $1.25 trillion in March. The move, combined with loan-modification initiatives and other federal intervention, restored investor confidence in the secondary market and mortgage rates declined rapidly. The yield spread in March dropped to 1% and zero and then fell to an unprecedented minus 0.5% by early May.

This condition is certainly unique and, likely, short-lived. Statistically, when the yield spread deviates from historical norms, the chances are great it will return to those levels. That could quickly drive mortgage rates higher. How much is anyone’s guess, but if the cost of making a mortgage goes up by 1.5% so, too, might mortgage interest rates.

Yet, factor in some additional variables. The marketplace for bonds relies heavily on purchases by offshore buyers who remain skeptical as the global economy continues in flux. Then there’s the inflation-deflation conundrum. Many fear a deflationary spiral-with falling prices for goods and services that lead to falling wages-can still drag down a stabilizing U.S. economy.

Conversely, others believe inflation will kick in, ushering in higher consumer prices, including higher mortgage rates. How this issue shakes out will have important implications for interest rates.

One thing is crystal clear: the odds that mortgage interest rates will rise are much greater than any continued mortgage-rate decline. And for most home buyers, the cost of mortgage financing can be as important as the price of the home itself.

Real estate sales professionals can help their customers make the best long-term decisions by demonstrating the degree to which housing prices and mortgage interest rates could move from this point forward. Customers waiting for the absolute lowest price on a house could miss a golden financing opportunity and the lowest overall cost of homeownership.

Andrew Downs is executive vice president at Prudential Real Estate and Relocation Services.

For more information, visit www.prudential.com/realestate.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Don’t miss other real estate headlines on RISMedia.com:

What Must We Do to Restore Consumer Confidence? 
4 Easy Ways to Cultivate First-Time Home Buyers 
How Long Will a Foreclosure or Bankruptcy Affect Credit?

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, increased 0.1 percent to 90.7 from an upwardly revised reading of 90.6 in April, and is 6.7 percent higher than May 2008 when it was 85.0. The last time there were four consecutive monthly gains was in October 2004.

Lawrence Yun, NAR chief economist, cautions that there could be delays in the number of contracts that go to closing. “Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions,” he said. “Rises in contract activity show buyers are becoming more active even as they face much more stringent loan underwriting standards. Speedy clarification of the appraisal rules could smooth a housing market recovery and support the overall economy.”

The Pending Home Sales Index in the Northeast rose 3.1 percent to 80.9 in May and is 6.8 percent above a year ago. In the Midwest the index slipped 1.3 percent to 89.2 but is 11.4 percent above May 2008. The index in the South declined 1.7 percent to 92.6 in May but is 7.9 percent higher than a year ago. In the West the index rose 2.2 percent to 96.9 and is 0.7 percent above May 2008.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said the appraisal issue is complicated. “We see that distressed homes often are selling for 20 percent less than normal homes in the same area, but some appraisals don’t distinguish between traditional homes and distressed property,” he said. “In many cases appraisers from outside the area are being used, but as everyone knows real estate is local and appraisals should be done by an expert with local expertise.”

McMillan said sellers shouldn’t hesitate to speak with an appraiser about their home. “Sellers should feel free to tell an appraiser about improvements and renovations to their home, and how it compares with other homes in the neighborhood,” he said.

“Also, if recent sales in the neighborhood were discounted, but not similar to your home in terms of quality or condition, that should be pointed out. It wouldn’t hurt to put all this in writing, especially if an appraiser is not familiar with your area. A Realtor® could offer guidance and information to help you with this process.”

NAR’s Housing Affordability Index remains at historic highs. The affordability index fell to 171.6 in May from an upwardly revised 178.8 in April, which was the highest on record dating back to 1970. “Under these conditions the typical family would devote only 14.6 percent of gross income to mortgage principal and interest, which is one of the lowest percentages on record,” Yun said.

The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.

A median-income family, earning $60,800, could afford a home costing $296,700 in May with a 20 percent downpayment, assuming 25 percent of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small downpayments are roughly 80 percent of what a median-income family can afford. The affordable price was significantly higher than the median existing single-family home price in May, which was $172,900.

The first-time buyer tax credit also is benefiting the market. “Strong activity by entry level buyers is helping to absorb inventory and allow some existing owners to make a trade,” Yun said.

Existing-home sales should trend up through the end of the year, with normal local market differences. “The big question is how much the appraisal issue will impact the ability of contracts to go to closing,” Yun said. “We are currently conducting a study to assess the degree to which new appraisal rules are impacting home sales.”

For more information, visit www.Realtor.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

The state Legislature set aside $30 million to create the Florida Home buyer Opportunity Program, aimed at first-time buyers and others who have not owned a home for at least the past three years. To qualify, an individual cannot earn more than $75,000 a year, while couples can’t earn more than $150,000.

“Here in Florida, rather than qualified buyers waiting to get the tax credit on the tail end of the process, in the form of a credit after they have filed the tax returns, it will allow them to get it upfront and let them use it for down-payment assistance and fees,” said David Hart, vice president of legislative and government affairs for the Florida Home Builders Association. He estimated that about five states are taking a similar approach.

The state’s program takes effect Wednesday, though the money isn’t expected to be available until later in July or August. The funds are being distributed through local government and nonprofit agencies that already provide down-payment help through the State Housing Initiatives Partnership, known as SHIP. Qualified home buyers are entitled to $8,000 or 10% of the property’s purchase price, whichever is less.

18 months to repay

Buyers who receive a down payment must file for the tax credit on their federal tax return next year and then repay the agency that lent them the assistance, according to the program, which was proposed by state Sen. Mike Fasano, R-New Port Richey. The program gives buyers who qualify and get funds 18 months in which to repay the state, which allows them plenty of time to realize the benefits of the tax credit, part of the federal government’s massive stimulus package, the American Recovery and Reinvestment Act of 2009.

The state program is intended to boost Florida’s slumping housing market. While the number of existing-home sales locally and statewide have been up for months now compared with a year ago, prices continue to be down 30% or more year-over-year depending on the market, according to the Florida Association of Realtors.

To receive the state’s down-payment assistance, the buyer must close on a property by the end of November. Housing agencies are still working out the details of how to distribute the funds, and state officials caution that four or five months is a relatively short time in which to qualify, find a home, obtain a mortgage, close on the property — and use the money. Qualified buyers who do not take advantage of the state program may still take the federal tax credit, which is currently set to expire in December.

Some local homebuilders are hopeful the state’s decision to convert the tax credit into upfront money will help spur the slumping market. George Glance, who oversees operations for KB Home in Central Florida, said that, while historically low interest rates and falling home prices are enticing many first-time buyers into the market, many of them struggle to come up with a down payment.

“Allowing the federal tax credit to be used toward a down payment would be a great advantage to a first-time home buyer trying to obtain the dream of homeownership,” Glance said.

One consumer advocate considers the state program flawed, however, because of the way the state is distributing the money. Walter Dartland, director of the Consumer Federation of the Southeast, said he fears some Florida cities and counties will run out of cash before the end of November, even as others wind up with excess funds that won’t get used.

Will it be used?

“Each county or municipality gets a share of the money. In smaller counties, no one is going to buy any houses-there’re so many for sale,” Dartland said. “The concern I have is that it won’t be used. If there’s any money left on deck, it won’t stimulate anything.”

He proposed that the money all come from a single, statewide pot. But state officials said they must abide by rules set by the Legislature, which call for the funds to be distributed through local housing agencies.

Mary Shanklin can be reached at mshanklin@orlandosentinel.com or 407-420-5538.

Copyright ©2009, The Orlando Sentinel, Fla.
Distributed by McClatchy-Tribune Information Services.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Since July 1999, the company says it has accomplished much, has a lot to be proud of, and has a solid foundation to build on for years to come.

According to the company, in that time, it has experienced many market challenges, and nevertheless the level of commitment and quality of their people has placed the company in a lead position for growth, strength, success and generosity.

Prudential Florida Real Estate Services offers its congratulations and thanks for continued strive for excellence, exceptional customer service, passion for the industry and for our company.

Here are some comments from the company’s business partners who contributed to their success:

“Congratulations to the Prudential Florida Real Estate Services Team on 10 years of excellence. Your growth and success has been driven by your dedication to the customer and your commitment to quality. Your impressive adaptation to the ever changing market and eCommerce evolution are rewarded by the recognitions garnered over the last 10 years. Your efforts have allowed us to build a business that many are trying to replicate. Each and every one of you should be proud of this incredible growth and success. Thank you for what you do every day.” - David L. Fry, Interim President and C.E.O., WCI Communities, Inc.

“In a very short decade Prudential Florida Realty has grown from a few offices to a powerhouse in the Prudential Real Estate Network and overall industry. President Rei Mesa and his team insist on excellence and provide customers the finest service and consultation. Their love for the business and commitment to progress and innovation will keep Prudential Florida Realty atop South Florida real estate for years to come.” - John Van Der Wall, Chairman, Prudential Real Estate and Relocation Services, Inc.

“Congratulations to the hard-working professionals of Prudential Florida Realty. Your effort and care during the past 10 years have made your company one of the crown jewels of the Prudential Real Estate Network and a wonderful ambassador for our Brand. In short, you set the standard for real estate in South Florida, admired by customers and competitors alike for your knowledge, professionalism and exemplary business practices.” - Earl Lee, President, Prudential Real Estate and Relocation Services, Inc.

“As Prudential Florida Realty’s longtime mortgage partner, we’ve appreciated the company’s unwavering commitment to promoting homeownership in the Florida market with a fully integrated team of real estate services. You’ve created a truly customer-centric culture - and great results in a challenging market. They say the team with the best talent wins, and that describes the Prudential Florida Realty team. Congratulations to Prudential Florida Realty and Rei Mesa on a decade of success, and thank you for your vision and industry leadership at the national, state and local level.” - Cara Heiden, Co-President, Wells Fargo Home Mortgage and Joe Jackson, Head of Wells Fargo Ventures

“No Real Estate Company better exemplifies how today’s full service Real Estate Company must effectively perform not only locally and nationally but also internationally than Prudential Florida Realty. Of particular note is how Rei Mesa has inspired his world class management and sales team to fully embrace the industry revered technology and marketing that they and their Iconic brand Prudential have developed. Their resounding results represent an enviable standard of excellence which both they and all Floridians can point to with pride. Congratulations!” - Allan Dalton, Co-Founder Top 5 in Real Estate, Former C.E.O. Realtor.com

“On behalf of the Sunshine Kids Foundation and our Board of Directors and especially our Kids who are fighting cancer, I would like to congratulate Prudential Florida Realty on this momentous milestone. With the leadership of Rei Mesa and his team at Prudential Florida Realty, the Foundation has been able to touch the lives of young cancer patients across Florida. The Sunshine Kids Foundation is so honored to be part of this great company and together we have been able to bring smiles to Kids with cancer.” - G.W. Bailey, Executive Director, The Sunshine Kids Foundation

Some of recent achievements include:

Prudential Florida Real Estate Services has grown to service 17 counties and over 1,800 sales associates throughout the State of Florida.

Second largest statewide residential real estate brokerage in Florida based on sales volume and the highest average sales price of any statewide company.

Prudential Florida Realty ranked as the 33rd largest residential real estate firm in the nation based on sales volume by Real Trends Magazine.

Prudential Florida Realty Sales Associates ranked among the Top Award Winners in the Prudential Real Estate Affiliates Network.

Prudential Florida Realty Branch Sales Offices recognized for highest productivity in the Prudential Real Estate Affiliates Network.

Rei L. Mesa named 2008 Broker of the Year by Prudential Real Estate Affiliates (PREA).

Rei L. Mesa named 2008 REALTOR® of the Year.

Prudential Florida Realty Ranked #6 out of 1,900 affiliates in the PREA Network throughout North America.

Prudential Florida Realty is the #1 Prudential Affiliate in Florida for both Gross Commission Income (GCI) and Units Closed!

Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage, the alliance between Prudential Florida Realty and Wells Fargo Ventures, is recognized as the # 1 Wells Fargo Joint Venture in the state of Florida, for both volume and transactions.

Florida Home Finance Group, an affiliate of Wells Fargo Home Mortgage is recognized as the 6th largest Wells Fargo Home Mortgage Joint Venture in the country.

Florida Title & Guarantee received several accolades from the title industry including “Top Title Agent Award” issued by First American Title Insurance for the second year in a row and “Quality Title Agent Award” issued by Stewart Title.

We introduced our insurance company, Florida Home & General Lines Insurance and strengthened our partnership with First American Home Buyers Protection Corporation

Prudential Florida Real Estate Services team was the #1 Fundraiser for the Sunshine Kids Foundation in Florida with over $1.6 Million raised since 2001!

Prudential Florida Realty Supports RISMedia’s Top 5 in Real Estate Network, with the highest number of Top 5 Members of any statewide company.

Our Branch Managing Brokers average more than 20 years experience in the real estate industry and have been honored with numerous designations and awards.

Prudential Florida Realty listings are enhanced on Realtor.com, which attracts more than six million online consumers a month and on over 100 additional websites.

Our Prudential Real Estate Internet Marketing Advantage (PRIMA) provides an exceptional platform for sales associates to market property, increase online exposure, and achieve business objectives.

Prudential Florida Real Estate Services is excited to provide the Consumer Confidence Stimulus Package which includes the Home buyer Price Guarantee and the Home buyer Employment Guarantee! This initiative marks an industry first and we are proud to be the leading Company to bring back Florida real estate.

For more information, visit: www.prudentialfloridarealty.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Over 63% of brokers indicated that the mood of consumers has improved since the beginning of 2009, which is also reflected in the outlook of sales associates.

Market activity, including open house attendance, property showings, and website traffic, is much more favorable versus this time last year according to 68% of those surveyed.

The vast majority of activity is in the first-time buyer market, with 84% noting that this segment’s sales have increased the most, with 24% and 30% citing move-up buyers and investors, respectively, as also experiencing increased activity.

Low prices are the greatest driver, with 72% noting this as a determining factor, and the first-time buyer tax credit and low interest rates were each also indicated by 63% of respondents.

“The market still appears sluggish, no doubt,” said LeadingRE CEO Pam O’Connor, “but many consumers have realized that there may not be a better time to buy for years to come, and they are acting, particularly those who wish to take advantage of the $8,000 first-time buyer tax credit before it expires later this year. Anecdotally, as one example, we are hearing about many parents urging their 20- and 30-something children to buy now, and as the lower-priced housing stock is absorbed, this will help trigger more move-up buyer activity.”

For more information, visit www.LeadingRE.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

More real estate news, tips, and best practices on RISMedia.com:

Are Tighter Appraisals Hurting Home Sales? 
Thinking Outside the Box - One Agent’s Unique Approach to Real Estate 
Sustainability Is the New Economy