The Internet…Real Estate Friend or Foe?

2008-09-04T13:02:00.000-07:00

With over 83% of buyers looking online for real estate one would think that the Internet has only helped boost the real estate industry; but after thoughtful consideration maybe it has only hindered sales? How could I say this? Well let me explain.

You see long ago, before the Internet, the only way to see the inside of homes for sale was to physically walk though them. Not any more! Today you can go to Realtor.com, Trulia.com, GoogleBase, Yahoo etc., plug in your search parameters and have all the information and photos you need right at your fingertips.

But here’s what’s being overlooked; regardless if we are talking investment or residential, real estate will forever be an emotional purchase. I include investment properties because a wise investor will consider the emotions of a prospective renter.

What does emotion have to do with looking at real estate? EVERYTHING!

You see, anyone can go online, find a home they think is perfect and simply shut the computer off and forget about it. But… it is not as easy to forget a property that a buyer has physically walked through.

Whey a buyer walks through a home they are picturing where their sofa will go, appreciate the detailing of doorknobs or gorgeous molding. They see how the light shines in through the windows; they can imagine their children playing in the backyard and most importantly can imagine calling this place home.

It is at that point that a buyer knows they will write an offer.

But do you know how many buyers these days look at a house online and rule it out. A LOT! How do they know from a couple of digital photos taken by a Realtor that they don’t like a property?

Physical showings are down, but online showings are up leading me to believe that marketing homes online have made it easier for buyers to keep themselves unemotionally attached. Ultimately, the abundance of Internet marketing for properties has kept buyers from purchasing their new home.

A Great Place to Live

2008-07-15T19:10:00.001-07:00

Good news fellow Milwaukeeans, this is a great place to live according to Forbes. Milwaukee was just voted the 9th best city for young professionals check it out. Plus Ozaukee county was just voted the second best place in the nation to raise a family and Waukesha was voted the 8th best check it out. This is great news for real estate - we are desirable! Not to mention we have not been hit nearly as hard as the rest of the country in terms of the housing market. Granted, we've felt it...but it could be WAY worse. So I'd like to urge everyone not to worry. Yes, there are some areas that haven't fared well- but as a whole we're looking pretty good. Plus things truly are looking up. For instance in 2007 Shorewood's appreciation per square foot went down 2% but so far this year it's up 12% - that's huge.

So everyone should give themselves a pat on the back. Our city and surrounding areas are becoming more beautiful by the minute and there seems to always be good times to be had. I just "Stormed the Bastille" last week and it was awesome. Our location is excellent, I've always appreciated "cooler by the lake" during these hot summer months. Wouldn't you agree that it's nice to be so close to Chicago, Madison, Lake Geneva, Door County etc.? We've got it all. Please ignore what you hear in the national news. Instead, ask for MLS stats for your area. Chances are you won't be disappointed.

Milwaukee Real Estate

The Internet…Real Estate Friend or Foe?

A Great Place to Live