Real Estate Outlook 2010 (Jan ‘10)
January 29, 2010 – 11:02 amBorrell Associates just released their report on Real Estate for 2010.
In the report they discuss:It will take another 3-5 years for the residential side of the market to rebound. One is seven mortgages are delinquent or in foreclosure and unemployment is likely to stat at 10% or higher.
Total spending on real estate advertising was down 20% last year but very unevenly across different media.
Newspapers will see an increase in real estate advertising this year over last due in large part to spending by government agencies and banks to promote the sale of distressed properties. (Another example of wasteful spending)
Online advertising continues to dominate the real estate market, reflecting the consumer’s ongoing rapid adoption of the Web as a preferred method for researching homes for sale and rent.
A more immediate development within online advertising is the strong growth of video, which provides real estate shoppers with a much more immersive and compelling experience of the attibutes of each unique property.
I would add that 2010 is going to be a much bigger year for mobile and real estate applications.
3 Responses to “Real Estate Outlook 2010 (Jan ‘10)”
Why is Cinema advertising cut almost in half this year especially since it almost doubled last year?
By Richard on Jan 30, 2010
Im surprised that the newspapers are still around 30%! Its great to see video is gaining traction. Video will become the most important marketing media in years to come!
By Ben Book on Feb 7, 2010
“It will take another 3-5 years for the residential side of the market to rebound. One is seven mortgages are delinquent or in foreclosure and unemployment is likely to stat at 10% or higher.”
With those kind of glaring statistics, it’s no wonder nobody wants to spend money on ANY kind of advertising. Something needs to change. I think I know what. The rate of foreclosures needs to drop and so does the mortgage amounts on over-encumbered properties. A “mortgage fixer upper” is necessary to save the real estate and the advertising market. Lenders need to sell their notes at discount to investors who can then give homeowners more favorable and affordable terms. Foreclosures will be eliminated, values will return and homeowners and agents can again advertise good properties for sale.
By Dave the Distressed Properties Guy on Jul 28, 2010