Youth Magnet Cities

Today’s Wall Street Journal (link available to members through ProQuest) has an article on which cities a panel of experts thinks will emerge as the go-to destinations for post-recession college graduates to start their careers. Not surprisingly, big cities dominate the list. While quirky smaller cities had an appeal in the past, recession-weary grads are more likely to seek out the stability and broad job markets of larger metropolitan areas.

Also missing from the list are many cities of the sunbelt and south. Las Vegas and cities in Florida, only recently booming, have been hit hard by the housing crisis. And Charlotte, a major banking hub, is still reeling from the financial crisis. Ascendant are the cities of the West Coast and Northeast, with a few mid-continent power spots thrown in. Not all the cities on the list have emerged from the recession unscathed. Portland, on the list at number 4, has an 11.2% unemployment rate. However even with the tough job market, Portland continues to appeal to the young with it’s vibrant, hip culture. Tying for first place are Washington DC – government jobs, culture and a high tech corridor – and Seattle – high tech and bio-tech with a beautiful setting.

View the top ten after the jump.

Top ten post-recession youth magnet cities:
1. Washington DC
1. (tie) Seattle
3. New York City
4. Portland, OR
5. Austin
6. San Jose, CA
7. Denver
8. Raleigh-Durham NC
9. Dallas
10. Chicago
10 (tie) Boston

Are McMansions going away?

The Census Bureau reports that the median square footage of newly built homes has shrunk by 7%. Says author Sarah Susanka, “As more and more people build or remodel homes that satisfy in quality rather than quantity, there will be a huge shift in what we perceive as desirable.” Others are blaming the recession for reducing house sizes.

Social Media for Small Business

Looking for more help in getting a grip on how your business can benefit from a social media program? If you have a Facebook account, I encourage you to sign up for the group Social Media for Small Business – Sponsored by Dell (search in the upper right corner of Facebook and become a fan). They have lots of content geared toward small businesses and how they can utilize social media to increase sales and drive business.

The group includes guides, screencasts, a discussion board, and YouTube videos. Topics include how to listen to what others are saying about you online, starting a blog, using Twitter, and generating buzz with crowdsourcing. And best of all, it’s not just a big ad for Dell computers. Today for example, they posted a link to a video on why small business might want to post to YouTube and tips on how to get started with creating a channel and loading a video.

Also remember, members can turn to our online library here at the National Association for further help with social media tools. We have Field Guides, white papers and eBooks available for free! And if you haven’t found REALTOR® Magazine’s blog, Speaking of Real Estate, it’s another good source of information.

Zillow App for iPhone

Zillow has launched a new application for Apple’s iPhone, using the power of the portable device’s GPS system to bring listings to the user. Available for free at the iTunes Apps Store, the Zillow app will use your current location to pull up a map or satellite image, overlaying their ‘Zestimate®’ of home values. And if a house has recently sold it will also show the sales price. If a house is currently for sale, the app can be used to link to further information from the local MLS or other sources. A reporter from the San Francisco Chronicle tried it out recently near his home in Oakland, and reported a few problems – mostly incomplete data or connectivity issues. Regardless, once these issues are smoothed out, the app will be a great marketing piece for Zillow and a real benefit to consumers.

Watch a YouTube intro to the app from Zillow after the jump…

Espresso Book Machine

It goes without saying that librarians love books. So it was with great interest I read about a new print-on-demand bookbinder called the Espresso Book Machine. Recently launched by OnDemandBooks, the Espresso looks like a large photocopier. It can print up to 100 pages a minute on paperback quality materials, delivering a title while the customer waits.

In Britain, Blackwell Books recently launched Espresso service in their Charing Cross Road branch in London with approximately 500,000 titles available, mostly out-of-print or out-of-copyright books. Prices are expected to be comparable to books of similar size on the shelves. In the US, Espresso machines are available at a few libraries and other sites across the country.

Watch a demo of the book making process after the jump.

Whatcha talkin bout Willis?

According to Crain’s Chicago Business, the Sears Tower, Chicago’s iconic skyscraper, is to be renamed Willis Tower. The London-based insurance firm Willis Group Holdings will take about 140,000 square feet in the tower starting this summer and got the naming rights thrown in for free.

While the name stuck, Sears hasn’t leased space in the building since the 1990s when it moved its headquarters to the suburbs. The building suffered a tenant drain after 9/11 as security measures increased. More recently several anchors announced plans to vacate major blocks of space in the building for new projects around town, making the renaming less surprising.

Looking for Happiness? Try Utah…or Silicon Valley

According to the latest The Gallup-Healthways Well-Being Index, people in Utah reported being the happiest in the nation. West Virginia had the lowest score.

The research and methodology underlying the Well-Being Index is based on the World Health Organization definition of health as “not only the absence of infirmity and disease, but also a state of physical, mental, and social well-being.” Utah, with lots of outdoor recreation and a relatively young population, comes out on top, followed by Hawaii and Wyoming. At the bottom, just above West Virginia, were Kentucky and Mississippi. In general the highest scores came from the West, while the lowest were found in the Midwest and South.

More than just a survey of heath, the Well-Being Index measures people’s “ability to contribute at work and be more productive, and it’s about feeling engaged in a community and wanting to improve that community,” said a Gallup spokesman. The survey, which takes about 15 minutes, involved 42 core questions. Those taking the survey could get a score of up to 100. The actual difference between states wasn’t great: The average score for the highest-ranking state, Utah, was 69.2 points, while the average for the lowest-ranking state, West Virginia, was 61.2 points.

When broken down further to the congressional district level, wealth and income play a larger role. California’s 14th congressional district, home to Silicon Valley, comes out on top, while some of the poorest areas of the country can be found toward the bottom. Even if money can’t buy happiness, it sure does go a long way towards creating peace of mind. You can generate your own congressional district level map here.

Foreign investors targeting Detroit

Foreclosed homes in Detroit are selling from $1.00 to $10,000 and foreign buyers are snapping them up, according to a report in the Chicago Tribune. Real estate agent Michael Shannon recently sold 30 homes in one day to one buyer. A trio of U.K. investors has bought a half-dozen and plans many more. “I thought it would be quite good fun to have a look,” said Darren Veness, an investor from Brighton, England.

Detroit has been hit hard by the economic downturn and currently has one of the lowest home ownership rates in the country. Veness and his colleagues “have considered other U.S. cities,” says the report, “but so far Detroit is it. For them, it’s simple: The homes are cheap and plentiful.”

Selling during the holidays

While the holiday season sees the least amount of home shoppers during the year, people who are looking now generally are more motivated to find a home quickly. While juggling the demands of shopping, parties, cookie baking and relatives can be stressful enough, trying to sell your home doesn’t have to take a back seat to the holidays. Take a few minutes to make sure your listing is following these home selling during the holidays guidelines published in the Chicago Sun-Times.

1. Don’t overwhelm your room with a large tree or too many decorations
2. Think about putting extra furniture in storage instead of just shoving it to the side for seasonal displays
3. Don’t hide the best features of your home under garland and decorations
4. Keep plenty of lights on for buyers – while the tree may look pretty in a dim room, it won’t help to sell your house
5. Share a little holiday cheer with buyers by laying out cookies or warm cider

The Obama Effect

This is a difficult time–car companies that need a bailout, a declining stock market and foreclosures. But James Crumbaugh III is optimistic about the Obama Effect–a sense of optimism leading up to the new presidency.

“With the automotive bailout, real estate is bound to improve in the Michigan area and probably the entire rust belt, therefore improving Florida real estate. The retirees will be able to sell their homes in Michigan and retire to Florida or other states popular among retirees. The public works project will put hundreds of thousands of workers back to work and at good wages. I still believe we have a pent up demand for the last three years of buyers wanting to buy. Once these buyers are employed again and flush with income, the market will start to improve.”

Other positive signs include lower gas prices, lower mortgage rates, workers going back to work and lower real estate prices.

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