For quite a while, Nutley residential real estate holders – that is, homeowners – haven’t had to work very hard to come up with a description for the U.S. real estate market. ‘Lousy’ certainly came to mind. ‘Bleak’ was a strong contender. ‘Cautiously optimistic,’ at best a distant third.

So this month’s Wall Street Journal report came as a quiet reminder that, for serious-minded investors who view our situation from a less-involved perspective, our residential real estate outlook is neither lousy nor bleak. In fact, the combination of lower residential prices and the international currency environment has created a ‘property-buying binge’ by Asians, Canadians, Europeans and Latin Americans – more than 60% of whom pay in cash.

“There’s this international view that America is on sale,” according to one property manager. He should know; he’s an executive whose Chicago-based company buys foreclosed homes and manages them for investors. A year ago, all of his investors were domestic. Now, one in five is foreign.

Whereas before, most foreign residential real estate investors were interested in ‘trophy’ properties to enhance their personal prestige, the new onslaught is coming from buyers who see that they can earn high returns by buying here, renting, then reselling in the future when the market rebounds. It seems that in many countries, a residential real estate downturn is expected, but has yet to occur. In their estimation, ours is already history.

It looks like “a gift,” according to one developer, who judges that an oceanfront condominium in Rio de Janeiro sells a level 50% higher than an equivalent property in Miami. International or domestic, investment money is always drawn to bargains — but when bargain basement prices are combined with the perceived safety represented by U.S. residential real estate, the lure is apparently irresistible.

“FOREIGNERS SNAP UP PROPERTIES IN THE U.S.” was Nick Timiraos’ headline, with a caption that read, “To many Americans, plowing money into real estate has never looked like such a risky venture. But to many foreigners, U.S. housing has never looked like a smarter investment.”

Thanks, Nick, for giving us some outside perspective; I guess we can adopt the ‘cautiously optimistic’ view with a lot more confidence. If you have been waiting on the sidelines to make your own Nutley residential real estate investment, I hope you will give me a call when you decide that now is the time. I’m standing by to help you find the property you’re looking for!

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When it comes to Nutley property search resources, one tool house hunters rely on without hesitation is so simple they probably don’t even think about it. Although online sites and search engines are incredibly valuable, some stall users until they give up their email address. Classified ads may be tried and true, but often require searchers to make a phone inquiry to learn the address in question. But there is a low-demand, high-yield, unequivocal property search aid without any of those drawbacks: the good ol’ frontyard ‘For Sale’ sign.
It may seem like an awfully old-fashioned marketing method, but that sign remains one of the most effective tools we recommend to attract buyers. With the prices of single-family homes on the rise in half of the largest US cities, many who have been on the sidelines waiting for the market to turn around are revisiting the idea of selling. For them, what about putting out that ‘For Sale’ sign?
One advantage is obvious: signs alert the most interested potential buyers – those already on a property search in Nutley. Your agent’s posted cell phone number (or a number that plays a recorded message) will certainly draw inquiries from interested buyers. Although its reach is a tiny fraction of the Internet’s, not everyone begins a property search online. To reach potential homebuyers who have targeted your neighborhood, the humble sign can be your #1 marketing tool.
Today’s Nutley property searchers have cell phones, most of which have apps which recognize a digital feature some of today’s yard signs display: a QR code. When a QR design appears on a For Sale sign, users just use their phone to scan the code and instantly gain access to the agent’s web page with full information about the property. Not so old fashioned, after all…
Drawbacks
The main disadvantage is location location location: only people who already live in the neighborhood or pass by the property will see it. The quality of those reached is high, but their numbers don’t compare with what online listings can yield. Too, some homeowners are nervous about the idea of seeming to invite unwanted visitors – although the addition of a “call for appointment” tag usually resolves that issue. For those who are shy about announcing to the neighborhood that they are ready to move, it’s good to remember that the goal of marketing a home is to attract as much attention as possible: hiding the ‘product’ is counter-productive.
There are many ways to advertise a house for sale. Many homebuyers’ property search begins with an agent; some with an online session…but for others, that simple yard sign can be what prods them into thinking about the home that could be theirs. For anyone planning to market their own Nutley home, the surest first move is to hire a professional: an agent with a proven multimedia marketing plan. And you can bet that a good old-fashioned (or nowadays, new-fashioned) yard sign will be part of it!

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