JB told me today that because he reads the blog from work, he doesn’t watch the videos much – he just reads the text and comments. Because we’re still averaging about 1,000 unique visitors per day, but only get around 500 views for each youtube – there must be plenty of others who don’t watch the videos either.
I try to include the readable posts in the morning, and videos later in the day. But with the MLS inventory shrinking (only 2.2% of the houses in NSDCC are for sale), and foreclosures dwindling down, there’s a possibility of running out of video material!
So I’ll leave this by text:
From everything we see and hear, the lenders are pushing troubled borrowers towards short-selling, rather than to foreclose.
Considering that 11,540 of the 362,087 housing units in SD County are on the NOD and NOT lists, few are actually getting foreclosed lately – only 223 per week on average (2% of those in default) over the last 12 weeks:
Even worse, only 73 houses were foreclosed in NSDCC, or about 6 per week!
There was a time where being a REO listing agent looked like an ideal position to be in – won’t the shadow inventory have to clear out someday? Yes, but not necessarily by the most effective mechanism – foreclosure.
It appears that the industry is going to take the longer-term approach, and try to short-sell our way out of this mess. While I’ll stay an active REO listing agent, Klinge Realty needs to list more short sales. In April we hired Kelley Mangold, a veteran short-sale processor, and she has been doing a great job in pushing them through. With her experienced assistance, and the passing of SB 458, I feel much more confident of being able to serve those who elect to short-sell.
If you want to make sure of accomplishing something, make a specific goal.
If you really want to accomplish something, make a goal, and then tell everyone you know!
Between Richard and I, we’ll be listing at least two short sales per month from now on.
It might cut into the video production, but I’ll try to keep up with more readable posts!
I wish you guys the best of luck and hope you knock out some short sales!
Well, 500 and 1000 might make sense. Two different IPs from work and home computers.
People will only watch the vids once (i.e. 1 computer either work or home) Yet you will registure IPs from both work and home.
Or?
The 500 views take a week or two to accumulate, and there are more than 100 youtube subscribers that don’t read the blog at all, from what I can tell.
The videos used to be more popular when they were funny, now they are more directed towards educating home buyers on the market, and exposing some decent buys. If you’re not a buyer, they’re probably boring.
Thanks Josie!
It won’t change much of what we already have in place.
We hired Kelley as a result of getting the Fannie Mae account (thank you Wes!), and have a staff built to handle 5-10 REO listings per month, which are more time-intensive than regular listings.
But we’ve only had 13 REO listings this year. I am grateful for those, but can handle many more. When I started with BofA three years ago, I received 10 REO listings in the first month!
Between Richard and I we are running 65% buyer, 35% seller reps this year, and I don’t think that will change.
The second website with videos for buyers is going great, and adding 1-3 videos per day. I think the blog here will still be an informative resource for visitors. But the inventory is tight, and getting tighter – and there has been a surge this week in new pendings! So you can probably guess that we’ll be targeting short sales for our waiting buyers….it’ll be legit though, that’s why I don’t mind putting it all out here.
Ditto for me…no time for vids, I only read text and graphs. Thanks, Jim!
waiting on that short sale… 🙂
who would have thought a popular/successful real estate agent would have to change his approach so many times. Guess it shows how random this economy/market remains.
If the gov stopped switching gears and changing course every time they get a new idea, private businesses, like JTR, could actually plan how to move forward vs spinning their wheels and writing new business plans every 90 days.
Get out of the way and let the system work it out and we’d all be better off, much quicker.
I can explain why I don’t watch many of the videos (and I read the web site about 4 times a week). It is because if I determine after the first paragraph of a written story that I am not so interested I will start to scan the rest of the story. I can stop scanning if the story gets interested or I can blow through it and get to the comments (with which I can also scan).
I can’t scan the videos. A four minute video takes me four minutes; a four minute written story takes me less time.
That’s good feedback – I should give you a preview of the video in the beginning so you know what you’re getting into.
I like the videos but I remember commenting a while back that they have to be 3-4 mins max unless its a large home and takes a while to walk through. We are a point and click and scan society.
Long time lurker. First time poster. Love and watch all your videos. Also read most of the text posts. And I always read the comments. I find your blog incredibly educational. I can see the point about not watching the videos from the workplace, that’s why I watch ’em from home. Better then watching TV. Thanks for all of the great info.
The number of video viewings seems to have dropped right after you stopped showing ice cream trucks.
@12 – LOL. I miss the ice cream trucks 😉
Thanks Ciaran!
I would imagine that you and other long-timers appreciate my struggle of trying to turn this educational experience into a money-maker.
While I am very fortunate to have many clients come from the blog, it is not a given that it’ll continue. I have to keep searching for the right blend of educational content and soliciting-for-new-clients.
Hang in there with me!
Jim,
Please know that I’ve read every post since finding you (Thanks, CR!) and have viewed every video you have ever posted (including some I wasn’t supposed to find). I so look forward to the videos that I often catch them on YouTube before you post them here. The only thing you’ve done more than entertain me is educate me; I’ll never look at houses the same way. Thank you, and please continue!!!
Fires,floods,torrential rains,hurricanes & tornadoes everywhere, earthquake cracks in DC, no gamblers spending, no more stimulus, and all we can talk about is too many pendings and low inventory? Hmmmmm
Thanks for the text. I watch zero videos and read 100% of the text. It can take a few seconds to scan text and like 5+ min to watch a video. More text! More text!
By the way JTR, I think you do a great job on your blog of being fair with positive and negative news. You present both sides and are not just a Realtor who blows smoke up orifices. It takes balls to put up negative news when your business is selling homes. Thank you for that:)
Jim – I think you’ve struck a nice balance between text and videos. I wouldn’t stop the videos. But if time is a question, then maybe reduce the length and save the detailed videos for your buyers. I for one read the text and watch the videos. I love some of the comments in the vidoes in a tone that cannot be captured by text.
I really like the videos and think that’s the unique part of the site. There are other sites that offer forums but your site is unique in offering the videos that you have in particular with the type of experienced opinions you offer.
For my benefit and others, I really hope you keep up the videos. The videos make it feel kind of like we are there with you at the house and give me a feeling of what it would be like to have you represent me as an agent.
Don’t underestimate the impact of your videos…500 people *choosing* to watch your videos is quite impressive and better advertising than a passive tv or radio ad could ever be. The videos reveal your personality and honesty in a way that can’t be conveyed by text on a blog. I watch almost every one.
There was a realtor canvassing my hood b/c there was a place going to foreclosure down the street. I was out in front. He came over to talk. Your name came up. “Oh, yeah. He’s the one w/the videos on YouTube.”
You have notoriety! Now we just need to get you business to go w/your fame! As I said, if I were looking to buy or sell up in your hood, you’d be the guy I’d call. You have my respect. Can’t say that about very many realtors.
I read the blog daily and find it interesting. I think about moving to North San Diego County, but I really should be farther North to avoid the commute.
Used to watch the videos more, but getting busy so I watch less often now. Usually only watch the videos if they sound interesting.
I watch the videos, read the text and comments. I know the videos take time, but I think it shows who you really are, Jim. Your comments as you walk through a house show how different you are then the vast majority of other agents.
While other agents might babble on with their best realtor impression (“Here’s the kitchen, here’s the master”, etc, etc), you educate buyers and sellers by pointing out both positive and negative attributes of a house and area.
Keep up the good work! There’s no one else like you…
Your blog is fantastic! I found it back in 2005 when I moved from Boston down here SD North County. At that time I was absolutely shocked regarding the house prices over here and couldn’t think of “ever buying” a home here, so been renting all the time. Still today, I don’t have the sufficient funds/income to buy a house for my family with these prices, but I sure keep looking how market is behaving and hopefully one day my financial capabilities and house prices will match 🙂
Your blog is one-of-a-kind and I’m sure it will reward you with a lot more clients as the economy will settle for better again. Keep up the great work – I hope we’ll meet in the future!
I look forward to the videos. They are entertaining and an education. Nothing wrong with an ice cream truck to lighten things up, either. The text and comments are also interesting and valuable.
The honest discussion of the positives and negatives of each property is something that I really appreciate. As numbers guy says, you aren’t just blowing smoke. Next time I’m in the market, you’ll be on my list.
Reading the blog since OC renter pointed me this way about 2005/6. Text only as here in darkest South Africa 3GB of downloads costs about $40 (or 10$ more than the monthly child support grant or 10$ less than the weekly government pension (social security payment). Ill probably never buy a house in SD (have American granny though) but some of the advice is relevant even here.
For which I am grateful. How come you aged about 20 years in the new picture 😀
Long time reader, rarely comment here, but I love the video stuff. That’s where all the of the best material is!
Save The Whal – – – uh, I mean, Videos. We love the videos! They do a lot of things: give a decent idea of neighborhoods, give great advice about how to evaluate a house, give an idea of the cost of different projects, give a strong sense of which additions and features add value and which do not, . . . and they convince us yet again that the banks that control REO’s truly are the discerning, sensitive community-boosters we believe them to be!
We block YouTube from our office, so listings with YT vids contain text that announce that content has been blocked. I can always watch the vids when I get home, but it would be good to be able to get the gist of a topic by reading it.
Jim:
For what it is worth, I don’t generally care for your texts posts. They are usually somewhat rehashed economic data that is better presented elsewhere. (I know that is mean, but just trying to be honest).
Your videos are great, as long as you make them personally. The videos by your colleagues are worse than watching paint dry. Too bad, but Bubbleinfo is not going to work as a franchise model.
The videos you make are a wonderful additional to the Internets. You have a gift for it, you are passionate about the topic, and as a result they are enjoyable for anyone to watch, even those of us who will never buy a house in San Diego (again!).