Housing experts use blog to advise

Housing professionals launch real estate blog.

Date published: 4/1/2007

BY KAFIA HOSH

When the mortgage industry collapsed from a surge in defaulted subprime loans, local loan officer Kim Thagholm spread her prediction of how the Fredericksburg housing market would be affected.

"Nationally, that means that home prices will likely continue to decline," she wrote. "Locally, in the Fredericksburg real estate market, I think it will mean no, or very, very slow home price appreciation (probably none in the next year) and of course, decreased demand."

Thagholm is a regular contributor to Fredericksburg realestateblog.com, a Web journal operated by area real estate professionals.

While the media buzzed with stories about foreclosures around the country, Thagholm felt compelled to include her own expert projection about the region's subprime lending concerns.

"I guess that the idea is the panic doesn't have to be there quite yet," she said in an interview. "It's a matter of understanding where you fit in the market."

Every housing market has its own unique features controlled by the job growth rate, household incomes and other economic indicators.

The Fredericksburg real estate blog puts national trends into perspective, said Jeff Edmisten, a local Realtor and the site's founder.

"Much of what we read refers to a nationally tally," he said. "We can sort of drill down the information to make it relevant to our market."

Edmisten launched the site in early March after he noticed real estate blogging catching fire in cities such as Seattle and New York.

"It seemed like consumers were embracing this because they're getting fresh content that is relevant to their local market," he said.

The virtual advice column includes postings from area real estate professionals familiar with the region's housing market.

Their Web entries range from how to sell your home quickly to general mortgage education.

Leslye Cushing, the owner of a Fredericksburg home-staging business, is a regular blog contributor.

Cushing provides tips on how the right color coordination or furniture arrangement can help sell a home.

Most buyers are already surfing the Internet for a home's pictures, "so you've got to get them to your front door," she said.

Thagholm said the blog gives consumers direct access to real estate experts in a no-pressure environment.

"If they want to reach out to us, they can do it at their leisure, and when they're comfortable," she said. "Or they can just get the information and move on."

And Edmisten said the site is one way to acquaint consumers with each real estate blogger.

"The real estate industry is relationship-oriented," he said. "People have to trust you to want to do business with you."

fredericksburgrealestateblog.com

Kafia Hosh: 540/735-1977
Email: khosh@freelancestar.com

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Date published: 4/1/2007