Coldwell Banker "On Location" Youtube Channel Draws a Crowd

Immersive YouTube Channel Now Most Viewed in Real Estate Industry;
Attracts more than 200,000 Visitors in First Month and Features 1,700 Localized Videos

PARSIPPANY, N.J. (June 23, 2009) – In just one month since its launch, Coldwell Banker “On Location,” an innovative branded YouTube™ channel focused on real estate search and insights, has reached the milestone of more than 200,000 visitors to the site. Designed to offer consumers a new way to search for and interact with real estate information, listings and local insights via video, the channel currently features more than 1,700 videos (1,300 of which are new since the site launched), that highlight behind-the-scenes looks at towns and neighborhoods, smart tips and timely news on real estate topics, and video listings of homes for sale.

Coldwell Banker Real Estate LLC launched On Location in May 2009 becoming the first brand to fully tap into the power of video. Since its launch, On Location has been among the top ten most-viewed brand channels on YouTube and is the leading real estate brand page on the site.

“The response we have seen since the launch of On Location has been tremendous and it is a confirmation that video truly is the way of the future for real estate,” said Michael Fischer, senior vice president, marketing, Coldwell Banker Real Estate LLC. “The Coldwell Banker sales force has already uploaded more than 1300 original videos with many, many more on the way. We are proud to lead the industry with an online resource that provides consumers with information to help them through the home buying and selling process.”

Two areas of strategic focus set Coldwell Banker On Location apart from other real estate Web sites. First, it showcases the power of video to bring real estate more vividly to life – offering behind-the-scenes looks at towns and neighborhoods, smart tips and timely news on real estate topics, and video listings of homes for sale. Second, content posted to On Location has a strong emphasis on local information and insights, so consumers can dig deeper into the areas of the country that interest them most.

Fischer noted that the channel is continuing to grow with content being added every day. “As more and more videos are uploaded, On Location will become an even greater asset to consumers. It has the potential to be the Web’s richest array of real estate video content, and the results we have seen thus far prove that we are well on our way," he said.

To create On Location, Coldwell Banker Real Estate closely collaborated with both YouTube, a Google subsidiary, and Google to develop a customized framework and user experience. In addition, On Location is the first branded YouTube channel to use dynamic IP lookup to search for videos, which automatically serves up local results when visitors first hit the site.

Development of the On Location site was a collaborative effort by Coldwell Banker interactive agency partners, FD Kinesis and Bootstrap Software, Inc.

To see a video about Coldwell Banker On Location please visit: http://www.youtube.com/watch?v=W1AKZDhUrLY



YouTube is a subsidiary of Google Inc.

About Coldwell Banker Real Estate LLC
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and more than 101,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

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Halfway hrough 2009

With the rise in gasoline prices over the 4th of July and through August it should be interesting to see how this affects the local Albuquerque Real Estate market. While they are predicting that prices are going to rise to $3 a gallon, I have another prediction for you: Try $4.00 a gallon by August 1rst, why? The speculators are back in the market again same as last year and with the current price of a barrel of oil at $72 a barrel well.

Something to consider before you buy a new home or a new car are what exactly is this going to cost over 10 years or more that you are living in your home. Shrinking those electric bills, and gasoline costs for your commute to work isn't always the first thing on a persons mind when thinking about living close to their job or buying to much home and spending the additional cost on the utilities over time. But lets just say you are thinking about a home in the NorthEast Heights for around $190,000.00 but you will have to commute to work to for example the Industies around Central and Coors or you can buy a NorthWest Heights for $190,000 much closer to work but 500 sqft larger than the same home in the Northeast Heights for the same price. The two variables you cannot control is the price of the cost of the gasoline to get to work or the fluctuation in costs to heat, cool and light the larger home in the Northwest Heights, is it exactly a trade off? Maybe, maybe not; driving the kids around town, your spouse's job, where you shop and where you go for entertainment can all play a factor.

So what is the right answer? There isn't one because each of these factors has to be considered by each individual.

My Answer: Buy the home in the Northwest Heights closer to your job, but buy a home 500 square feet less than the $190,000 home as you were getting in the Northwest Heights as you were in the Northeast Heights for around $51,000 less (1 sqft = average price of $103 per squarefoot). or roughly $140,000 and reap the rewards of the lower mortgage payment, cost of utilies, and pain at the pump!

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Can a late mortgage payment force you into forclosure?

Many of you are aware I work in the Bank REO, Short Sale and Foreclosure markets. What stories I have been hearing lately (I will go into later) is of customers as little as 1 day late on their mortgage payment being forced into foreclosure because the mortgage holder no longer will accept their payments.

This is hard to comprehend. Why would the mortgage holder risk the costs incured with Real Estate Attorneys, Realtors, and the length of time to regain the borrowed funds through foreclosure if at all; rather than just accept the late payment(s) with a late payment fee and continue to allow the homeowner to honor the repayment contract?

We here alot of talk on TV and Radio about the homeowners that bought to much home, with payments that were to high, borrowed way to much and the Realtors and Mortgage Lenders that allowed them to do this so it is all their fault. But what about the homeowner that didn't? What about the homeowner that due to the downturn in the economy was laid off and got behind on the mortgage payment but was then able to catch up? Shouldn't we as a country say, "Gee sorry Joe Homeowner that is unfortunate what happened to you, glad to see that you were able to get back on track." Instead of "To bad for you, oh by the way, we have repossessed your car, sold your home at auction and with your now bad credit, good luck finding an apartment to rent."

Just in the last two weeks I have heard three stories from Veterans, excuse me let me rephrase that Disabled Veterans that are in the process of being foreclosed on or have been foreclosed on. Good honorable people that want nothing more than to pay their mortgage and continue living in the homes they purchased but the companies that hold the mortgage have refused the payment. One homeowner was one day late with the payment and they refused to accept it. The process continued, they put their faith in an attorney and a supposed self proclaimed knowledgable Short Sale Realtor that did not inform them of the process along the way. They were summoned by the foreclosure attorney to appear in court and waited the whole day for their case to be called. They were told by the judge their case had been settled earlier back in chambers and the home had already been foreclosed.

I also had a customer earlier this year that had this happen also, we were able to negotiate a short sale and close on the property, however the late payments, interest, and penalties took the original loan of $94,000 up to $112,000 and we sold the property leaving a short of $5,700 the customer could not pay in closing costs. The Mortgage Lender had the customer take out $10,000 promissary note to pay the short of $5,700 and close the deal. So in the end the mortgage lender recovered $122,000 in six months on a $94,000 loan, or a profit of $28,000 because they refused to accept the customers late payments.

I am seeking help from my readers, I can not figure this out? What is the financial incentive not to accept the payments from these homeowners if short sale and the above example does not happen? If the bank or mortgage company is not profiting from the current policy of refusing payments is our tarp money being used to bailout the banks and provide the incentive to force customers into foreclosure? Are Mortgage Lenders actually double-dipping putting a lean on people for loan short falls and getting money from the tarp to cover the losses? Why are customers being charged late payment and penalties for late payment on month, two three and four when the lender will not accept the payment?

There also must be other stories just like these, how many people has this actually happened too? Why is no one in the main stream press talking about these cases? Who should these people contact that might be able to help them with their situation?

I have reached a dead end at the moment and might be talking on deaf ears, but I do have to admit, I make sure my own mortgage payment arrives a few days early now.

Real Estate Statistics

We now have the lowest months supply of homes 7.6 months supply than we've had since July of 2007. Yes, July of 2007. We have been averaging about 9 months supply so far this year.

Average days on market dropped 7.7% from January to April. We are now at 88 days. But not the greatest comfort when it is taking your home to much time to sell. Abaris Team William Staab and Jordan Knecht's average: 63 days.

More homes closed last month (588) since October of 2008. That number was slightly higher than March's number.

More homes went under contract in April (873) since May of 2008. In fact, April beat March by 17.8%. That means more homes went under contract in April than in the "busy" months of last summer 2008.

Between the $8,000 tax credit: http://www.federalhousingtaxcredit.com/2009/index.html
and programs such as the New Mexico Mortage Finance Authority:


This may be a good time to buy a home, contact us today to see if homebuying is an option for you.

As we move into the busy home buying season here in Albuquerque, although the statistics are showing signs of positive economic life, they haven't really been on life support here in Albuquerque as some other areas of the country, and even in the hardest hit states, the problem has really been in only 35 counties in all of those states.

I do not like to post just raw statistics here on the blog since the information is so readily available on every Real Estate website, ad infinitum, but try to provide you with information about the exceptional services offered on BuyaHouseNewMexico.com that will help you make a wise choice in the home you sell or purchase and insure that you have Realtors and Real Estate service providers that will provide the highest level of satisfaction and customer service.


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South Valley Property in Albuquerque New Mexico 87105

View more information about this property on You Tube click on title.

Local Realtor wins Wall Street Journal Dartboard Contest #33

Local Albuquerque Realtor William Staab with Coldwell Banker Legacy has won the 33rd Wall Street Journal Dartboard contest which ended March 31, 2009. The contest asked six people from around the country to go up against six stocks picked by the Wall Street Journal staff that were randomly picked by throwing darts at a dartboard.

The contest originated years ago when people started to remark that monkeys throwing darts at a dartboard could do better at picking stocks than financial analyists and pundits.

William Staab's stock finished 32% higher over the six month period, his next closest competitor was a dartboard pick that finished up 15% while the closest human competitor to Mr. Staab was down by 9%. Truely in the six months that this contest ran has been a difficult time for the stock market and the market is definetly reflecting the overall economy.

Out of the 33 Contests that have been held so far only 13 times a human has out picked the darts......?

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Thanks
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