Google's New Aardvark - Move aside Facebook

Afterlaunching Buzz last week, Google have continued on the social track by now acquiring social search service Aardvark.

The deal, rumoured to be worth around $50 million, could see Google use the social search engine as an answer to, well, Yahoo! Answers. Through IM, Twitter and e-mail, Aardvark lets you ask full-text questions and then takes your social connections and attempts to identify the best person within your network (or extended network - friends and family) who might be able to assist in giving that answer.

Here is how Wired explains the concept behind Aardvark:

Users who sign up give (Aard)Vark access to one of their social networks - Facebook, LinkedIn or the e-mails in their contact list. Users then say what things they are confident answering questions about (e.g. chess, cooking, country music). Vark then routes future questions - such as what's the best country band out of the south from the 1970s or where's a good sushi restaurant near Santa Monica - to the right person. A series of algorithms keeps tuning the targeting by watching if a user's answers are quick and useful, deciding whether their friends are also experts, and checking if a user is online or has been asked to answer too many questions recently.

The news was confirmed by Aardvark CEO (and ex-Googler) Max Ventilla who emailed TechCrunch with the following: "We can confirm that Google has signed a deal to acquire us but have no further comment."

So I'm afraid that's all the news we have so far folks, but if we hear anything more, we will be sure to let you know.

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International Listings from your computer at home

RISMEDIA, February 16, 2010-Marty Van Diest lists and sells homes in the Malanuga-Susitina Borough of Alaska through his Valley Market Real Estate office located in Wasilla, Alaska. It's an area bigger than North Carolina. He lives in Palmer and his office is in Sarah Palin's hometown of Wasilla. He's been a real estate agent for 19 years. Despite having his office in Wasilla, he can't see Russia from there, but he sees success on the Internet every day.

When you are in a place as unforgiving as Alaska in winter, organization and efficiency are essential


If you ever read Jack London's great stories earlier in your life, you know that Alaska in winter can be an unforgiving place. If you saw the movie Into the Wild, you also know it's no place for beginners at any time of year. If you had to earn your living in an area the size of North Carolina, you'd do whatever you could to make your job easier and your performance stronger. Marty started trying to make the Internet work for him about three years ago: "When I started my blog about 3 years ago, I started really trying to make something happen online. Nothing happened. Then I wanted an additional lead generating website so I tried another product last summer that didn't work out. Then I found you guys. As you can imagine, it costs a fortune to advertise across a geographic area as big as North Carolina. I ran my last ad in printed media last March and decided to go online completely, and I have been happy with my decision. My Internet presence covers everywhere and over 120 real inquiries have come into me from my Compass PROLeadS™ site in the past six months; real Alaskans asking me for what they want. I sold 45 houses last year and five so far this year (things are slow in Alaska in the winter). I get more than 60% of all my leads from Compass. Most people start their research for property on the Internet, and if you are easy to find, you will be with them from the start. Many of them take many months before they actually buy, so you are helping them from the beginning. Because I have my PROLeadS™ site, I don't have to advertise, don't have to worry if I am reaching my territory, and don't have to worry where my next sale is coming from.

It took a while for Van Diest to get lead follow-up right


"I received 45 leads while I was moose hunting in September and did not get a good chance to follow-up on those initial leads. I had just subscribed in August and figured it would take a while for things to kick in. I won't make that mistake again! I had a long learning curve on responding to the leads: it took me longer than it should have to understand that immediate response is required for Internet buyers. I realized that people who find me online want answers now. They expect immediate response and whenever possible, I give it to them. I have more success with the leads I get now because I call them right away. If possible, I call the lead within 1-2 minutes of receiving it. The lead is texted to my iPhone so I can just touch the telephone number to call them. If I am in a meeting and can't call, or if they only leave an e-mail message, I e-mail them as soon as possible: The sooner the better. The telephone calls are best because they establish a real personal touch and sometimes you can set up a face-to-face appointment. After I find more details about them, I set them up for a search for their particular real estate needs. I then follow-up with them after they start receiving emailed listings. The goal is always to set up a face-to-face appointment."

Whether you're in Alaska, Alabama, or anywhere else, the speed of your personal response to the prospect's inquiry is the single biggest factor in your success cultivating Internet leads (once you get real leads). The Massachusetts Institute of Technology (MIT) recently published a study showing that Internet leads degrade within an hour to less than half the value they had when received. For that reason, have your leads put through on SMS text to your cell phone, as well as emailed to you. It only takes a moment to begin building a great client relationship. You'll be amazed when prospects greet you warmly with "Wow! That was fast!" It gets the entire relationship off on the right foot, plus, studies show that 81% of the time, an Internet lead sticks with the first agent they contact if that agent responds to them immediately.

It's also about the quality of the leads


"I did try another company, but they didn't build me a dedicated branded website. I think they were one of those 'lead aggregators.' I don't know where their "leads" came from; they would just send me some every month. When I called the supposed 'leads,' they did not know how I got their name and in most cases, they were not interested in finding real estate. I could have generated better leads by cold calling out of the phone book. My PROLeadS™, on the other hand, are from real people who have visited my site and who want more information about something they saw there. These real leads include the person's name, phone number and/or e-mail address, and most of the time, a personal comment. The leads are from people who are really interested in talking to me. As long as I have people to talk about houses with, I will sell houses.

It's tough in Alaska, but it is tough in your neighborhood, too


There are 444 listings for Realtors in Wasilla, Alaska. How many are there in your town? You may not have to know a market as vast as Marty's, but yours is a handful, too. How much easier would your job be if you had 8 or 10 truly interested people who know who you are and what you sell write you each month and ask you for more information about something?

It's for that reason that Professionally Managed Lead Sites (PMLS) are making themselves a name in real estate: Unless you have millions of dollars to spend and countless days to learn by trial and error what works, you can't compete with them as a prospecting tool. Hundreds-if not thousands-of agents are moving to these sites, sites where experts do everything for you and generate leads exclusively for you from people who know who you are. The average agent just can't do that themselves, especially for the $235 a month such a site costs*. Agents have realized that their frustration at being unable to succeed online can be eradicated for a fraction of what their time and effort are worth, and the new technology of combining organic with paid search and all the success practices learned in online marketing is beyond their ability or desire to try to duplicate. You see, succeeding online is not a mystery to online marketing services companies anymore. It's utilizing a set of practices, whether you're in Wasilla or Washington, D.C.

Life is so much more fun with prospects to call on, no matter where you sell and list real estate.

*multiple options exist, this is offered for budget purposes.

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Find Foreclosures Across the Country

Foreclosures: What Are They?

Foreclosure occurs when a bank repossesses a property because the owner fails to pay the mortgage. Foreclosure is not a quick process, however. Usually, foreclosure occurs when the homeowner, or borrower, misses several payments. This is called a default and starts the foreclosure process. Banks and homeowners have several options when faced with foreclosure. The home can be sold in a pre-foreclosure sale or short sale, can go to auction, or can be taken over by the financial institution and become a bank owned property (REO).

How Do Foreclosure Sales Work?

Pre-Foreclosure Sales

In a pre-foreclosure sale, a property may be bought from the homeowner of the financial institution holding the mortgage prior to the start of the foreclosure process. Generally, the seller is relieved of financial liability and the buyer is able to obtain a house at or below market value.

Auction

Some banks may place a foreclosed property into an auction to try and regain the lost amount on the defaulted property. The price for an auctioned house may begin at the outstanding amount of the mortgage, and any buyer of an auctioned property will often have to take possession of the property in an "as is" state.

REO (Bank Owned Property)

If the auction fails to attract any bids, the property may be assumed by the bank and become an REO property. If this happens, the bank will list the REO property with a brokerage, like RealEstate.com, REALTORS®, and attempt to sell the bank owned property as a normal real estate transaction. However, the bank may be willing to simple recoup the loss on the foreclosed loan.

How Can Buyers Benefit?

Buyers can obviously benefit from buying foreclosures at deep discounts off market value. Buyers may also look at foreclosed properties as investment opportunities. Buying a foreclosed property often means the buyer must be able to pay with cash and it is important that the buyer understand the local laws surrounding foreclosures and REOs. To find out more about Foreclosures, Pre-Foreclosures - visit http://www.robertjrussell.com

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On the verge of foreclosure - just stay for another six months

WASHINGTON – Citigroup Inc. plans to let homeowners on the verge of foreclosure stay in their homes for six months — if they turn over the deed to their property.

Citi said Thursday it is launching the pilot program, dubbed "Foreclosure Alternatives," this week in Texas, Florida, Illinois, Michigan, New Jersey and Ohio. Initially, about 1,000 homeowners are expected to participate. Citi may expand the program nationwide.

In a normal foreclosure, a lender assumes legal control of the property and evicts the homeowner. But Citi's program, like other "deed in lieu of foreclosure" efforts, allows the homeowner to avoid a completed foreclosure. While the owner must still leave the home after six months, the program results in a less severe hit to the borrower's credit score.

The policy is an attempt to deal with what lenders see as a growing phenomenon: borrowers who choose to default on their mortgages. Close to one in every three U.S. homeowners owe more on their mortgages than their homes are worth, according to Moody'sEconomy.com.

Many housing analysts say these borrowers — particularly those who owe at least 20 percent more than their home's current value — are choosing to walk away because they see little chance that home prices will come back.

Also, many states have lengthened the time it takes to complete a foreclosure, making the process more time-consuming and expensive for the lending industry.

"Why should we all go through the foreclosure process and evict people?" said Sanjiv Das, Citi's top mortgage executive. Avoiding foreclosure, Das said, is "less painful for our borrowers as well as for us."

Borrowers in Citi's program will still need to pay their utility bills. But Citi will pay at least $1,000 in relocation costs and will consider helping out with other expenses. Citi also plans to provide relocation counseling.

The program is intended to help borrowers who don't qualify for a mortgage modification or a short sale — one in which the lender agrees to sell a home for less than the total mortgage amount.

Citi's policy is similar to one announced in November by Fannie Mae, the government-controlled mortgage finance company. Fannie is allowing homeowners to hand back the deed to their properties, then rent them back at market rates.

For more information visit: robertjrussell.com

 

 

Citi to let distressed homeowners stay for 6 months

WASHINGTON – Citigroup Inc. plans to let homeowners on the verge of foreclosure stay in their homes for six months — if they turn over the deed to their property.

Citi said Thursday it is launching the pilot program, dubbed "Foreclosure Alternatives," this week in Texas, Florida, Illinois, Michigan, New Jersey and Ohio. Initially, about 1,000 homeowners are expected to participate. Citi may expand the program nationwide.

In a normal foreclosure, a lender assumes legal control of the property and evicts the homeowner. But Citi's program, like other "deed in lieu of foreclosure" efforts, allows the homeowner to avoid a completed foreclosure. While the owner must still leave the home after six months, the program results in a less severe hit to the borrower's credit score.

The policy is an attempt to deal with what lenders see as a growing phenomenon: borrowers who choose to default on their mortgages. Close to one in every three U.S. homeowners owe more on their mortgages than their homes are worth, according to Moody'sEconomy.com.

Many housing analysts say these borrowers — particularly those who owe at least 20 percent more than their home's current value — are choosing to walk away because they see little chance that home prices will come back.

Also, many states have lengthened the time it takes to complete a foreclosure, making the process more time-consuming and expensive for the lending industry.

"Why should we all go through the foreclosure process and evict people?" said Sanjiv Das, Citi's top mortgage executive. Avoiding foreclosure, Das said, is "less painful for our borrowers as well as for us."

Borrowers in Citi's program will still need to pay their utility bills. But Citi will pay at least $1,000 in relocation costs and will consider helping out with other expenses. Citi also plans to provide relocation counseling.

The program is intended to help borrowers who don't qualify for a mortgage modification or a short sale — one in which the lender agrees to sell a home for less than the total mortgage amount.

Citi's policy is similar to one announced in November by Fannie Mae, the government-controlled mortgage finance company. Fannie is allowing homeowners to hand back the deed to their properties, then rent them back at market rates.

For more information visit: robertjrussell.com

 

 

 

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