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Selma Hepp’s Blog
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From Ed’s Desk Dear Marin Colleagues,
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Weekly Broker Tip
Pacific Union Tools
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Marketing/Advertising
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Last year our markets were effected by floods, fires, tax reform and everything else under the kitchen sink. This year it is starting off with the markets selling off, taxes again and who knows what else is coming. There is a lot of confusion over why the markets are behaving badly when the overall economy is growing faster than the last several years and the good news in the markets has caused bad news for rates and stocks. • At Tuesdays Estates Meeting, we had a fascinating presentation by Former Federal Reserve Governor Robert Heller. Governor Heller presented an overview of US economy back to 1776 and what is going on today. Basically, after the 2008 crash, interest rates dropped to the lowest level in history in order to stimulate the economy. This forced most folks to chase investments such as stock and real estate to hopefully get a higher return than what bonds or banks were offering. While this was great for home buyers is was not so good for retirees and pension systems that needed that higher return on investment to meet their obligations. Hence, the stock market went up along with home prices. We are now in an environment that is improving significantly and the Fed will be moving from an accommodative, low interest rate environment to a more normal neutral rate stance. The current Fed rate is 1.5% and a normal rate should be 3-4% so you can see as they start to move rates higher they may eventually double from today’s rates. Even though the Fed has telegraphed this since mid-2016 the markets did not react until the strong economic numbers came in in late January and early February and everybody finally took notice it was for real and things are going to change albeit, higher interest rates. The good news is there is no indication of recession over the next year. The bad news is the effect of higher interest rates and the tax changes are going to be on the minds of every buyer and seller for months to come. Here is the link to the slide presentation from Tuesdays Estates Meeting. • February 28 Pacific Union Marin will kick off March Madness with an agent mixer at Farmshop in Larkspur. It will be a great opportunity to network with your colleagues and share information on new listings. Time is 5-7pm and we will be joined by colleagues from our Eastbay offices that are new to Pacific Union (formally Empire Realty). • Our new Concierge Services Program is up and running and has been used by many of you to help with your marketing. We are working hard to make this a powerful support tool for you. Please feel free to reach out to me if you have suggestions on how we can improve this or if you have a happy success story I would like to hear that too. Our office managers are working hard to help you. Stay strong, stay healthy and prosper!
Pacific Union Affiliates Need Marketing Assistance Click here!
License # 01866771
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PUI Tools Pacific Union offers a variety of online tools that will enhance your marketing, contact management, social media and client relations.
MOXI PRESENTS
Contactually
Best Buyer Report (BBR)
Need Help?
Your Marin Marketing Manager Kevin Walli can always assist you with training and advice during standard business hours. Your Office Manager is also trained to assist. Also, How-to guides exist for all of our tools, and can be found in the back end of your PU website under Agent Tools > Resources > Website | Help Documents
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The Pacific Union Blog
Most Americans Aspire to Homeownership Posted: February 8, 2018 • About 80 percent of non-homeowners hope to eventually purchase property and think it is a crucial part of the American dream. • Two-thirds of Americans say that they would have some level of difficulty saving for a down payment. • More than half of non-homeowners point to an inability to afford one as the primary reason they do not own property. More than eight in 10 renters hope to become homeowners at some point in the future, though a lack of affordability and saving for a down payment present considerable challenges. The National Association of Realtors’ 2018 Aspiring Home Buyers Profile found that 82 percent of non-homeowners surveyed in the fourth quarter want to someday purchase property, up on both a quarterly and annual basis. A nearly equal amount, 80 percent, said that homeownership is key to realizing the American dream. Non-homeowners said that the largest motivator to buy would be a change in lifestyle, such as getting married or having children, cited by 32 percent of respondents. An improvement in non-owners’ financial situations placed a close second, at 30 percent. Two-thirds of those polled believe that saving for a down payment is very or somewhat difficult given their current financial situations and the fact that 51 percent expect their rents to increase in 2018. Seventy-five percent of younger baby boomers would have some level of difficulty amassing a down payment, compared with 66 percent of Gen Xers and 62 percent of millennials. Rising home prices and deteriorating affordability conditions are also a barrier to homeownership. In every quarter of 2017, non-homeowners pointed to the inability to afford a home as the primary reason that they do not own, ranging from 51 percent in the first quarter to 56 percent in the fourth quarter. “A tug-of-war continues to take place in many markets throughout the country, where consistently solid job creation is fueling demand, but the lack of supply is creating affordability constraints that are ultimately pulling aspiring buyers further away from owning,” NAR Chief Economist Lawrence Yun said. “These extremely frustrating conditions continue to be most apparent at the lower end of the market, which is why the overall share of first-time buyers remains well below where it should be given the strength of the job market and economy.” NAR’s most recent home sales report says that first-time buyers represented 32 percent of all U.S. residential real estate purchases in December. In that report, Yun said that 2018 should see an increase in first-time buyer activity but noted that an uptick hinges on more new homes hitting the market.
We encourage you to share Pacific Union’s daily blog posts via email, your own blog, or social media. All blog content is updated daily in VoiceStorm, which allows you to share posts to the most popular social networks with just a few clicks. Additionally, our team sends out a weekly Content Hit email each Monday, which contains everything you need to promote Pacific Union content on Facebook, Twitter, or your own blog. Check it out at blog.pacificunion.com
Pacific Union Social Media
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Top Sales of the Week 133 Lyford Drive Tiburon
$2,500,000
Shana Rohde-Lynch Listing and Selling agent
This Week’s Closed Sales from Pacific Union Marin Based on Information from 01 28 18 Noon - 02 04 18 Noon Please note that even though a sale closed during this time frame it may take longer to process.
Marin Stats Marin Market Share
Weekly Market Update
For Sale vs. Sold vs. Pending
Monthly Market Update
Avg. Price Per Sq. Foot
Months of Inventory
Average Days On Market
1973 2016 Ave Sale Price/Units
Average Price For Sale vs Sold
Source: Trend Graphic/Charts Bareis MLS (updated on the 6th of every month)
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Weekly Broker Tip WEEKLY PRACTICE TIPS
Bitcoins and Other Cryptocurrencies in Real Estate Transactions Q: Our brokerage has been approached by a buyer who wants to use Bitcoin to purchase a single-family residence. In addition, a different seller has inquired whether we will advertise that seller will accept Bitcoin or other cryptocurrency on the sale of their property. How does this work and can we be involved in these types of transactions? A: While it is possible for a buyer or seller to accept something of value other than cash for the purchase or sale of property, there are some issues and risks in trying to do so with Bitcoin or other cryptocurrencies. BACKGROUND: Bitcoin is the first, most widely used, and most famous cryptocurrency. There are perhaps more than a dozen cryptocurrencies, all of which are based on “blockchain” technology; and more are being created with regularity. Cryptocurrency is anonymous in the sense that the cryptocurrency is not tied to people, but rather to one or more specific keys or addresses known only to the owner. As a result, cryptocurrency owners are not identifiable, but all transactions are publicly available in the blockchain as a transfer from one unidentifiable address to another. Cryptocurrencies are bought and sold in exchanges; and, in some countries, exchanges are required by law to collect the personal information of their users. But that practice can be circumvented by using an unregulated exchange in a different country. For more information, see the articles in Wikipedia on “Cryptocurrency” and “Blockchain.” While Bitcoin (and other blockchain cryptocurrencies such as Ethereum, Litecoin, Monero and Zcash) could be used to purchase anything, including real estate, there are several cautions: A. Cryptocurrencies are often used for money-laundering, disguising the actual source of the funds. B. Until the cryptocurrency market settles down (and there is an argument that it eventually may do so), it is currently theWild West in which daily swings in value of 20% or more are considered “normal.” PROBLEMS USING CRYPTOCURRENCY IN REAL ESTATE TRANSACTIONS: Here are some of the problems that are inherent in trying to structure a purchase/sale agreement using cryptocurrency: 1. All financial amounts shown in the Purchase Agreement including, but not limited to, deposit and price must be in a US Dollar ($US) amount so that neither the seller or buyer is subject to swings in the value of the cryptocurrency during escrow.
Click here to read more ... DO NOT FORWARD TO CLIENTS. This Weekly Practice Tip is for the exclusive use of clients of Broker Risk Management and their agents. It may not be reproduced or distributed without the express written consent of Broker Risk Management. The advice and recommendations contained herein are not necessarily indicative of standards of care in the industry, but rather are intended to suggest good risk management practices. PRACTICE TIPS All Weekly Practice Tips are available at BrokerRiskManagement.com User ID: clientaccess, password: yard
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LISA’S CORNER Lisa Norman
VP, Product is andPacific InnovationUnion’s Group member Lisa Norman Product Vice President and an Innovation Group Member
I often get asked why you would use both myTheo and RealScout. Although they have similar functionality, they each offer some distinctly different features. You may decide you only need to use one, but I recommend trying out both for 30 days before you decide.
myTheo • The fastest and easiest way to access MLS data on the go and on your mobile. • Quickly share property information with a client. • Plan a buyer tour with multiple locations (Google Maps) and share it with your client. • Chat in-app with your client or an agent. • MLS updates in real-time.
You have an account right now, click HERE to get started.
RealScout • Migrate all seller and buyer alerts from various places (MLS, CleanOffer) via RealScout migration service. They do it for you! • ‘Set it and Forget it’. RealScout will send property alerts to your clients as often as they choose. • Pacific Union clients love the search features and ease of use. • Huge photos, easy navigation and robust searchable features.
You have an account right now, ask your local staff to get you started.
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Open House Data from Marin County Date Range: 6/3/17 to Present Aggregated Data
download/print
download/print
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Marketing / Advertising Download the 2017 Advertising Guidelines
Premier Properties Newsletter
Promote your listing to over 1,000 agents and real estate professionals throughout Marin for FREE! Published on Tuesdays after 5:00pm via Constant Contact. Run dates are every Tuesday, materials are due Monday at noon. Click here to sign up for Premier Properties
License # 01866771
41 San Carlos, Sausalito 1 1 .1 4 . 2 0 1 7
The Ark Newspaper WATERFRONT HOME ALONG THE SHORE OF SAN FRANCISCO BAY Living at 89 West Shore Road is like having your own personal yacht club. Fall asleep at night to the sounds of the waves lapping onto the shore. Wake up to the views of the Golden Gate Bridge. This home is a virtual masterpiece, inspired on all levels of good taste and understated elegance befitting a home of this stature. The floor plan offers rooms that flow seamlessly--perfect for entertaining. There are 4 bedrooms, 3.5 baths, including a spacious, well appointed master suite. This home is a “must see” for those looking for the impeccable. $7,995,000.
David Schwartz Luxury Property Specialist
Lauren Ramsey Luxury Property Specialist
415 412 2236 tiburonrealtor@gmail.com PacificUnion.com License # 00570060
415 450 5955 laurenramsey22@gmail.com PacificUnion.com License # 01234567
Your ad will reach a coveted audience of Ark Readers, primarily in Belvedere and Tiburon. Run dates are on Wednesdays, deadlines for materials are the prior Wednesday. Please email Harrison if you are interested in taking the page 3 half page ad. Cost: $700
Contact Marin Marketing to reserve space.
Marin Magazine A monthly, high-quality publication with a dynamic readership. A lifestyle magazine serving the North Bay featuring Marin County, San Francisco and Wine Country restaurants, shopping and culture. Cost: $825/half page, $1,650/full page Contact Marin Marketing to reserve space.
SF/Silicon Valley Business Times Home of the Day A Pacific Union Exclusive Partnership
Home of the Day is a unique opportunity to showcase your client’s high end property each month to over 775,000 affluent home buyers in the San Francisco and Silicon Valley markets. Only 15 Homes of the Day will be showcased per month, per market. $425 per month. • Presence on site 24/7 for 30 days • Premium promotion across the website, email newsletter, and mobile products twice per month as integrated native content Visit one of our Home of the Day listings
onth with two feature dates e about the property y photo gallery
ontent page per market.
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BBR - Best Buyers Report
The BBR is a proprietary tool for Pacific Union agents that utilizes in depth data to identify the types of buyers that are most likely to be interested in your listing. It gives you detailed information on their preferences and behaviors so you know how ng through ReachLocal and where to get their attention. Your advertising gn, you can distribute custom creative across theoptimal visibility on thetypes of sites and will have geted audience frequents. ReachLocal banner ads use that reflect their interests and activity. in publications rom Pacific Union’s Ask your office manager or Kevin.
ogram and places these banner ads on websites that Why use the BBR? sts. Some examples include MSN, CNN, Forbes, Golf among others.Runs monthly, $425 per month, per
-
Create a BBR!
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Facebook Social Media Online Banner Advertising ReachLocal
n Facebook ancustom average of 40 plans so that you We’veand put spend together advertising ustom audience targeting tounderstanding reach users with high inhave a highly accurate of how to target vertise your effectively with compelling creative theselisting segments in your advertising strategies. Custom onlinetobanner campaigns starting atthat just ts you want reach,advertising and identify new audiences
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$500 per month to get the most effective coverage. With our ads being shown an average of 70,000 100,000 times per campaign, per month, and a higher than average rate on which they’re clicked, our experience so far has shown excellent results.
ffluent and loyal readership of over 107,000 per issue Francisco, the Peninsula, and Silicon Valley. ame, Hillsborough, Los Altos, Los Altos Hills, Los , Palo Alto, San Jose, San Mateo, Saratoga, Portola
Resources - Forms, Vendors, Services
eights, Presidio Heights, Russian Hill, Sea Cliff • Inspection Checklist and Forms age.
• Pacific Union Marin Vendor Guide • FEMA: Marin Flood Zone Update
livers thought-provoking stories, destinations and of San Francisco. The most effective communication • Sewer City and Fire Inspections ffluent Marin County consumer. age.
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This is a collection of recent ads Pacific Union has placed- some are brand ads and some are ads placed by our Real Estate Professionals in publications that we regularly advertise in. These are excellent examples of our branding aesthetic and the impact that it has across the board.
Find your perfect place in the world.
COMING SOON | 81 Montford Avenue, Mill Valley Classic modern farmhouse by renowned Mill Valley architect Kelly Haegglund. This stunning 5 bedroom home is approximately 3000 square feet with an open floor plan, vaulted ceilings in the great room, a luxurious master suite, and seamless indoor/outdoor flow to the lawn and patio for play time and entertaining
Take the Pacific Path.
Kentfield 448.1100 | Larkspur 945.6300 464.8686 | Mill Valley, Downtown 380.6100 | Mill Valley, Southern Marin 383.1900 Novato 383.1900 | Ross 461.8686 461.8605 | Tiburon/Belvedere 789.8686 | pacificunion.com
SOLD Happy Valley, Lafayette $6,500,000 Buyer’s Agent
Radhi Ahern Luxury Property Specialist
Scott Kalmbach Luxury Property Specialist
415.531.2981 radhi@ahern-kalmbach.com License #01411471
415.350.7911 scott@ahern-kalmbach.com License #01795204
Full page ads in Marin Magazine
SOLD
SOLD
Christmas Tree Hill, Corte Madera $3,900,000 Buyer’s Agent
Seminary, San Anselmo $2,650,000 Listing Agent
Bjorn Sandberg Luxury Property Specialist 415 730 5354 bjorn@pacunion.com bjornsandberg.com License # 01747465
SOLD Sleepy Hollow, San Anselmo $3,200,000 Listing Agent/Off Market
SOLD Manor, Fairfax $1,395,000 Buyer’s Agent
SOLD Rush Creek, Novato $1,700,000 Listing Agent
Grateful for an amazing 2017 with more to come!
Half page ad in Marin Magazine
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Affiliate Resources The Mark Company The Mark Company is the authority on urban residential real estate sales and marketing. Using The Mark Method, our unique approach aligns developer goals with buyer insights to deliver unbeatable results. Visit: themarkcompany.com
Property Management Pacific Union Property Management offers full-service property management to property owners, landlords and investors throughout the SF Bay Area, helping your clients to maximize luxury real estate investments. Visit: pacunionpm.com
Commercial Backed by Pacific Union’s strong name recognition and marketing foundation, our Commercial Brokerage specializes in buying, selling, and leasing commercial properties- apartments, office, retail, and industrial- for a mix of clients. Visit: pacificunion.com/commercial-real-estate
Rentals Gain access to the Bay Area’s most exceptional rental properties with the helpof our rental experts. Visit: pacificunion.com/leasing-rentals
Relocation Whether you are moving to or departing from the Bay Area ... whether your move is job-related or personal ... whatever your move, we’ve got you covered. Visit: pacificunion.com/relocation
ProInsurance In addition to homeowner’s coverage, ProInsurance provides competitive pricing on a full range of personal insurance needs. Visit: pacificunion.com/pro-insurance INTERNATIONAL PROINSURANCE SOLUTIONS, LLC.
To obtain more information and quote, contact Adrianne Peixotto at 415-223-5543 or email adriannep@proinsurance.com
The Benefit of Knowledge