Posted on 07/29/2007 5:54:53 AM PDT by RayChuang88
NEW YORK (AP) - It's bad enough that a cratering housing market is leading to a slump in real estate advertising at newspapers, as a dreary series of earnings reports showed this week.
What's worse is that a lot of that advertising may never come back to newspapers even if the real estate sector recovers. That's because a significant chunk of those advertising dollars are moving - you guessed, online.
Exactly how much of a shift is occurring is difficult to measure in terms of dollars or market share, but several real estate executives say they are making a conscious decision to move money out of newspapers and onto the Internet as that medium grows in importance as a tool for researching home-buying decisions.
Granted, a significant amount of the declines in real estate advertising in newspapers can be attributed to the general weakness in real estate markets, particularly in hard-hit markets such as California and Florida, which were booming a year ago - leading to big gains in advertising back then.
(Excerpt) Read more at apnews.myway.com ...
The Friday & Saturday editions are my favorite, especially in the Personal Journal section.
Yeah, I love the BDS being forecast into oblivion with the long-gone good times of a decent real estate market. I just hope that maybe my grandkids, grandkids (I’m in my early 30’s with a 15 month old) could remember the last of a decent real estate economy back in the early Double goose eggs. /s
Man, you're in for a picnic. Realty is predict to nosedive in value over the next 2 years. Buyers market to be sure...just be careful about what's happening with insurance. Get a definitive quote before you commit and be 100% of the taxes and yearly increments.
I know you've probably done all that, but it's advice I'd give my best friend for the 10th time - lol!
Check out loopnet.com for commercial.
You summed it up nicely. You can hear the sneering lip curl when the MSM ask, “blogs” ?
No kidding! I recenlty bought a house and never even considered looking in a newspaper. I can even do instant comps. Realtor.com was my primary tool, and Zillow, which needs to be used taking a grain of salt, it another tool.
Damn, I could even get mortgage quotes online, but ended up using my local mortgage guy, and I'm damn glad I did, no online place could have handled the change in the paperwork that needed to be done 4 hours before my closing.
Why would anyone advertise property in the paper when the internet allows you to use things like 360 deg photography?
Everyone looks at ads for property on the internet
That said, when we sell our house, all the advertising will be online. We don't plan to put anything in the newspaper at all. If we decide to go with something like Isoldmyhouse.com, they will put the info in one of their flyers, but the rest of it will be online. We'll create a webpage for the house showing pictures, etc. so that folks can get a good idea about the place before they ever set foot in the door. That will also make the info available to out of town buyers when they're looking online for homes in the area.
That's how I'm scoping out houses in the areas we're considering when we move.
LOL
No changes would be required!
“Never look at a newspaper again.” Agreed. And with city-data.com and other such engines you can find out about the weather, median home prices, how local property is held (mortgages, rentals, etc.) schools, population age, income, ethnicity, what people do for a living, etc., etc., etc.
I’m planning to flee Mordor-by-the-Sea next year and move back to America. It’s still there, I saw it with my own eyes on a visit back to the Midwest in May. The online real estate search engines and sites like city-data.com are making the planning possible.
Never look at a newspaper again. I loved the sound of that so much I had to repeat it. No more neighbors stealing the paper, no more soggy papers, no more papers in the bushes or under the neighbor’s car. No more dealing with hostile and rude indifferent customer service people when calling to complain about any of the above.
No more putting up with the liberal Party line on the op-ed page and the same liberal oriented news service stories from the same handful of Old Media outlets.
I love it. Hoping to see the former news hacks standing by the on ramps holding hand lettered signs reading: “plese giv, hungri, no latte for 2 week” !
Yes, craigslist is great, but...
Don’t use your usual email address when you respond to inquiries. That website is crawling with Nigerian scammers and people harvesting email addresses.
I learned my lesson the hard way and ended up having to change my email address.
It’s PCS (Permanent Change of Station) season in our neighborhood and homes are selling in about 3 days after listing. We don’t have a housing slump here. With the reorganization of our local Fighter Wing builders are actually starting two new developments. What housing slump? Then again single family homes are still affordable in most communities in Idaho except for Sun Valley and the Boise area do to the Californian invasion.
I get the sense that this fairly porducive demographic is moving about the country looking to find a place where they won’t be skinned alive by welfare, taxes, local, county and state employees. Only I also get a feeling that the escape states are getting smaller. For instance it used to be Florida, but now local government is just as large as anywhere.
Past freerepublic one of my favorite sites is the local real estate site for checking those multimillion dollar mansions.
Generally, I’m looking for bad color schemes and misuses of animal prints. It’ a whole lot of fun.
Seriously, though, the website was amazing when I started my condo search. There were two complexes that I had no idea were condos when I started my search and I got them by entering my requirements. I may not have thought to look for them in the paper. I have always loved the apartments in one of them. Now it is on the short list for a purchase.
I get that entertainment from all the houses. Some are just butt ugly from the outside. Others have every room painted lime green. Some have all kinds of crappy lawn ornaments. Some people don't clean up for the realtor photos and there are papers and junk all over. It is fun.
But what's worrying analysts this time around is that real estate could become the next category of classified advertising - after help-wanted ads - to mark a significant and permanent shift away onto the Internet.
As noted earlier, Realogy's move to the Inet will impact both McClatchy and the New York Times.
Richard A. Smith, president of Realogy Corp., dropped a bomb on the newspaper industry this week when he told Bloomberg News that the Coldwell Banker and Century 21 branding budgets for newspapers will shrink by as much as two-thirds next year from 2006.
The company intends to slash its newspaper advertising budget to 70 percent of its home-sale ad spend by 2010, down from 84 percent this year, Bloomberg reported, as it shifts more ad dollars online.
Realogy is the largest real estate brokerage company and franchisor ...
"Journalists are no better than other liberal-arts majors at doing regression analysis with infinite variables." -- P.J. O'Rourke,WSJ, 4-16-02
to pop up in the near future. LOL.
ACK Spit! I wouldn't go anywhere near any of those places! We're in MA now, and we're planning to move back SOUTH! Right now we're thinking the MS Gulf Coast, because we both have siblings there, but Austin TX could also be a possibility because one of our sons lives there.
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