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I guess it's now official. The real estate bubble has burst. When the inventory figures for homes show they are going up nationwide AND it's in the national media, you can be sure that it's already been happening for a few months now. The NY Times and Jouranl and just about every other news outlet decided today that it was a story - so I guess it's official.

Those of us in the real estate business have known it for the last 3 months and we could have told you so. We have sales figures and "time on market" statistics that can back up our claims. We have been telling successful sellers what's happening and how to price their homes accordingly. Now - 3 months later, the media is catching on.

The story is that the supply of homes on the market is rising and the number of buyers isn't. What that means to you is that your home will sit on the market longer without selling. In fact, two of the articles I've read state simply that it would take over 6 months to sell all the homes currently for sale. What they leave out is that more homes come on the market every day, further increasing the glut.

As the number of homes on the market increases, it takes further price reductions to get some of those homes to sell quicker, which, in turn, lowers the reflected market price of all homes. Sellers will wait and wait and then lower their price - too late. What they don't realize is that they are chasing the market down.

The market price of their home goes down and then they lower their price just above the market price and wait. While they wait, the market price goes down further, putting them farther and farther away from the market value, until they lower the price again.

So, as a seller, what should you do right now?

Simple, lower your price to a point that is BELOW the current market value. Ask your agent to take some time and do a good market analysis to get a feel for what your home is worth right now. Then, price it below that number. If you do this, you will have hungry and willing buyers lining up to make offers on your home... but only for a short time in a falling market. If you wait too long, and the market coninues to drop, then you will be priced above the market again and have to reassess the situation.

The smart thing to do is price your home low and let the market come to you, rather than chasing the market down. One strategy results in buyers, the other results in foreclosures. But you have to decide which strategy to persue.

A new network of websites which features the largest 494 cities in Alabama will make it's debut statewide in December. Called the ePartners Network, the statewide web will make it easier for consumers to find properties all across the state of Alabama. In particular, the major cities, Montgomery, Huntsville, Birmingham, and Mobile and their surrounding communities are linked and cross linked so consumers can easily search for homes and real estate from one single location.

The state affiliate Broker, Mike Carraway (Broker, Access Realty), has already introduced the network to real estate agents in Birmingham, Huntsville, Jasper, Cullman, Hoover, Gulf Shores, Orange Beach, Montgomery, and several other Alabama cities. Each city has it's own site and weblog and an agent can elect to be the exclusive real estate agent for their city to help consumers find what they want or to market their property statewide.

This is the first time in the history of real estate that geographic boundaries have been erased. In the past, agents and brokers have worked in certain geographic areas and basically limited themselves to that area, even though they were licensed to do business anywhere in the state. Now, for the first time, those boundaries are gone. An agent licensed to do business in the state can assist customers finding homes or locating a local agent from anywhere.

This new network will be a plus for all real estate ancillary services as well. Mortgage companies, insurance companies, and others can now advertsie their services on the network either statewide or in a local community.

The ePartners Network will change the way that the real estate business is done in other ways as well. It will serve as the first statewide, and even nationwide, platform for paperless real estate transactions.

Developing...

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The following are the links to the selected listings.

Details 331358, 5020 GIHON CIR, TRUSSVILLE, AL - $308,900.00
Details 338932, 5012 GIHON CIR, TRUSSVILLE, AL - $308,900.00
Details 339702, 7913 COUNTRY CLUB DR, TRUSSVILLE, AL - $309,900.00
Details 346229, 4966 JOAB CIR, TRUSSVILLE, AL - $309,900.00
Details 344631, 6229 JONATHANS WAY, TRUSSVILLE, AL - $309,900.00
Details 347557, 6672 SERVICE RD, TRUSSVILLE, AL - $309,900.00

Or Click Here to go view all listings at once.

If your email program doesn't support an HTML url, then copy and paste the following
address to your browser's address box. Make sure you copy and paste the
entire link; it may appear on multiple lines.

http://bhammls.net/BAARReports/listings.asp?ID=WMI5467956

REALTORS: REAL-Service REAL-Expertise.
You can also visit http://www.Access1000.com to perform your own property search.

Broker
WEICHERT, REALTORS - Access Realty, Inc.
1-800-840-0165

By Joe Klock, Sr.

Real estate analysts (and what American is not among them these days?) tend to survey the sea of sale signs in most areas and join the gloomy headline writers who conclude that there are not enough ready, willing and able buyers in the market place.

Not so, gentle reader! The shortfall is among sellers, of which there are relatively few treading water in the aforementioned sea.
"Whoa, Nellie!" you might exclaim (ignoring the by-line clearly displayed above), "any fool, including the by-lined fool, can see that it's buyers that are now in short supply."
In so doing, you might cite the hordes of hungry house-hunters who roamed the house-hunting roadways during the many months of a recently-deceased feeding frenzy, fueled by mortgage lenders with deep pockets and all the fiscal restraint of sailors on leave.
It is a now a fact of real estate life in most areas that their numbers - and that financial fuel - have shrunk like last month's birthday balloons, and it's true that there are fewer prospective buyers rummaging through the current logjam of listings.
Enter the law (not the theory or fantasy) of supply and demand, which dictates that when the number of consumers is dwarfed by a surplus of products, either prices take a hit or activity takes a holiday.
That reality underpins my contention that, while there may be too many homes for sale, there are too few legitimate sellers offering them.
This position is backed up by more than a half-century of experience on and behind the firing line of real estate brokerage, during which I have seen and survived several cycles of inflation, deflation and stagflation, as well as so-called sellers' markets which morphed into buyers' markets and vice versa.
Through all that trauma, certain facts remained unchanged - facts that are being ignored by too many would-be sellers and, sadly, pseudo-professionals. They are as follows:
1. No home in history has ever sold for a penny more than the best offer obtainable from the best buyer available in the then-current market.
2. The only way to determine the true value of a home is to thoroughly and aggressively test the market and challenge the competition. That process need not be a lengthy one, since buyers and their agents do comparison shopping and readily react to an attractive offering.
3. Once that procedure has been pursued, properties remaining unsold for an extended period of time are, quite simply, overpriced. Forget about what similar houses sold for in the past (which is history), or what those would-be sellers might have invested in their homes (which is irrelevant), or what qualified appraisers say they are worth (which are only opinions). The critical test is exposing one's home to the greatest practical number of prospective buyers and active agents, and then analyzing the results.
4. A home that is appropriately priced and effectively marketed, preferably by competent professionals, will ALWAYS attract attention, generate activity and ALWAYS sell for what it's worth (refer to Fact #1 above).
The problem today is not that there are too few buyers. Demand is what it is and neither wishful thinking nor wistful memories will increase its size.
The more serious shortage is of genuine sellers; i.e., those who meet these specific criteria:
a) They are willing and able to accept the best price obtainable from the best buyer available in the current market, and
b) They have something to lose if they don't do so.
"Sellers" who do not fit that mold are not sellers at all and should be encouraged to take their properties off the market. (Realistically, they're not actually ON the market, anyway!)
The market is not always kind, but it is never wrong - and those who believe otherwise pay a heavy price for ignoring "The Facts Of Life For Home Sellers."
FOOTNOTE: For a further dose of this perhaps-unpleasant medicine, visit www.joeklock.com and click on that caption. You have nothing to lose - except, maybe, a pipe dream.
If that doesn't work for you, take two antacids or a short snort and DON'T call me in the morning!
Here's the bottom line - take it to the bank or to any nearby Wailing Wall: When proper pricing is combined with effective marketing, there is a buyer for everything and, given those conditions, any home can be sold in any market.
The ritual dances of negotiation may change with market fluctuations, but the drumbeat of reality does not!

Mike Carraway
Broker/Owner

WEICHERT, REALTORS - Access Realty
1100 East Park Drive, Suite 104
Birmingham, AL 35235
1-800-840-0165
WEICHERT, REALTORS - Access Realty
Valleydale Branch
4500 Valleydale Road, Suite 160
Birmingham, AL 35242
205-995-3939
24/hr Info: 800-634-0511
24/hr Fax: 800-634-0511
www.Access1000.com
www.Weichert.com
www.AlabamaWebPage.com
www.TakeOurTest.com
www.BirminghamRealEstateSchool.com

Nielsen has launched Nielsen Podcast Listener Buying Power Service, an analytics tool providing insights matching podcast listeners by genre with their buying habits.

The tool is placed to help pair podcasts with advertisers by detailing the interests and expenses of audiences.

The product, from Nielsen Scarborough, launches with iHeartMedia, Cadence13, Stitcher, Westwood One and Cabana as clients.

Clients will be able to profile shows using program titles collected from subscribers. In order to connect specific types of listeners with particular advertisers and specific program-level insights - built from a sample of 30,000 respondents.

complete article

NPR is projecting that podcast sponsorship revenues will surpass revenues from broadcast sponsorships next year for the first time.

During NPR’s membership meeting Sept. 5, Chief Financial Officer Deborah Cowan told public radio station leaders that the network has budgeted about $55 million in corporate sponsorship revenues from podcasts in fiscal year 2020.

complete article

The face of audio media is changing and it is all because of podcasts.

Audio media has always been prominent as it was the first true form of entertainment to exist before television came into being, and quite genuinely, I have to say I am beyond thankful radios have not yet fallen from the face of the earth.

Audio media is a key component of both traditional and contemporary technology. But, more personally, it is something that has been in my life since the day I became capable of retaining memories. With podcasts becoming increasingly popular, I believe radios will go out of style, and I will have to adjust accordingly.

complete article

Reflecting the fact that 75% of UK advertisers are upping spend in podcasts, Nielsen has unveiled a measurement tool to gauge effectiveness in this growing ad space.

Nielsen believes that the UK’s 6 million weekly podcast listeners will double in the next three years. It is putting the tools in place for brands to “quantify the impact and effectiveness of their podcast ads” with the Nielsen Podcast Brand Effect.

The tool has already been running in the US and so far the results have found that 57% of podcast ads tested outperformed pre-roll video in driving purchase intent and 70% of respondents agreed that the podcast ads increased their awareness of products and services.

complete article

To be a well-rounded business owner today, one must master not only business and finance, but other areas like mental and physical health, family, spirituality and sustainability. And as we approach the next decade, it seems like every self-proclaimed successful entrepreneur has a new weekly podcast offering guidance on these and other topics. So how do you sort through the fluff to find real, honest, useful advice that will help you on your own path?

20 Podcasts That Will Help You Grow in 2020

Spotifys continued investment in podcasts appears to be paying off, after the company reported that podcast listening has increased by 200 percent year-on-year in its fourth quarter earnings today. The company says it now has over 700,000 podcasts on its platform, and that over 16 percent of its users now listen to podcasts. Spotify says the amount of users paying for its premium tier increased to 124 million.

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The decision to implement a private podcast is a critical first step to improving your business communication, but there are a number of other important decisions you have to make before the show becomes a reality. In this article, we’ll focus on one unavoidable decision: what type of equipment should you buy?

The answer, perhaps unsatisfyingly, is that it depends. However, here are the questions you should be asking yourself as you begin the search for podcasting gear.

complete article

From a walk along Watling Street to exploring space or the music of west Africa, these podcasts will take you out of your living room and into another world

10 Best Travel Podcasts

Over the last five-plus years of my podcast, I have turned down a number of interview offers with artists who were not able to meet face to face. I know a lot of folks who do great podcasts remotely, and I have even done a few (relatively okay) ones myself. But there is really no replacement for being able to do an interview face to face. So much nuance is lost amongst the cloud compression algorithms.

complete article

Podcast marketing is on a roll in 2020 with many companies releasing audio content to build trust, connect with their audience on a personal level, and boost brand awareness.

1. Ease of production
2. Low entry costs
3. Language is no barrier
4. Repurpose your blog and video content as audio
5. Less competition than blogging and YouTube
6. Easier to grow a following as a podcaster
7. Successful podcasters make millions of dollars a year
8. Build connections by interviewing influential guests
9. Showcase your speaking skills
10. Build high-DA links back to your website

The podcast industry as a whole is expected to produce more than $1 billion by 2021, according to a new report from the Interactive Advertising Bureau (IAB).

With that much money floating around, you have to wonder what is stopping you from getting your share.

Since many people are still stuck at home, craving connection and entertainment, there is really never been a better time for podcasting. And, contrary to what you might think, getting your own podcast off the ground is not just possible, it’s quite easy thanks to resources like

Megaphone, a podcasting hosting and advertising technology provider, has signed a lease at Comstock’s Reston Station.

The company will take up roughly 10,000 square feet in the first office building at the mixed-use development, the tower designed by architect Helmut Jahn at 1900 Reston Metro Plaza.

With 165,000 square feet of leased space, Google is the anchor tenant of the building. Other tenants include Rolls-Royce North America (18,000 square feet) and infrastructure management firm Solar Winds (16,349 square feet) and digital identify firm Certipath (7,500 square feet).

Before the emergence of television and more recently smartphones as the primary medium for communicating sports news, radio was the main conduit for receiving the latest information. Those analog days have been converted into zeros and ones in our current digital age. However, the advantages gained by apps and channels have their drawbacks. The largest problem is that these digital mediums cant recreate the local community cultivated by radio anymore. Kevin Jones, a seasoned sports reporter, understood the gap between younger audiences and sports discussion and built Blue Wire to bridge the chasm. Blue Wire is a sports podcasting startup bringing together local creators to build a wider audience of fans. They have raised $1.2 million from a variety of investors.

The podcasting industry was shaken up this week with the announcement that JRE is moving exclusively to Spotify and it looks like it has caught Apple’s attention.

Bloomberg reports that Apple is looking to increase its investment in original podcasts, as well as buying existing ones, to augment its nascent Apple TV+ service. While its easy to view this as a classic case of shutting the stable door after the horse has bolted, Apple seems to view podcasts as either a by-product of video content or as material that could then be adapted to video.

Apple effectively invented the podcast format, which derives its name from the pioneering iPod digital audio player, but the pre-eminence of iTunes as a podcasting platform is under serious threat thanks to this recent development. You have to assume Joe Rogan (pictured) spoke to Apple before recently committing to Spotify, so it would be fascinating to know what led him to ultimately reject it.