Assist2Sell

Federal foreclosure-prevention tactics have recently been expanded to encourage delinquent borrowers to avoid foreclosure by streamlining the short sale process. Cash incentives are also being offered to the homeowners, as well as to the lenders and the buyers.

Perhaps the best feature of the new legislation requires the lenders to advise the sellers what their minimum acceptable price is before listing the home for sale. Then if the sellers secure an offer for the agreed price, the lender must accept it within 10 days.

This speeds up the short sale process tremendously, since the lender is also required to consult with local real estate agents in order to determine a fair price. Of course, "fair" is a relative term here, because in a short sale, the bank is agreeing to sell the property for less than the total amount due on the mortgage.

However, it is definitely in the lender's best interest to expedite a short sale instead of allowing the home to foreclose, because on average, the bank loses 50% on a foreclosure, but only 30% on a short sale.

These new standardized procedures, called the Home Affordable Foreclosure Alternatives Program (HAFA), is a new option for homeowners who have been unsuccessful under existing programs. If you're facing default, I strongly urge you to contact a real estate agent today to discuss the alternatives.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at Mike@MSinton.com or on the web at www.MichaelSinton.com.

It used to be too common a story: you're excited about signing the paperwork, shaking hands, and grabbing the keys to your new home. But the day before closing, the lender advises that your closing fees are several hundred dollars more than their Good Faith Estimate listed. Suddenly, your excitement turns to pressure to just pay it and close the deal.

Now those days are over, thanks to the Mortgage Disclosure Improvement Act (MDIA). What was once the Truth In Lending Act has been rewritten with new rules to help consumers understand the loan costs and alert borrowers to changes in fees well in advance of closing.

Now the lender must provide their Good Faith Estimate within three days of receiving the borrowers' application, and closing cannot occur until the buyer has seven days to review the disclosure. If the final APR (annual percentage rate) differs more than 0.125% from the original quote, a new disclosure must be provided, granting the borrower the right of rescission.

This relieves the pressure that buyers once felt to agree to pay higher fees and rates at the very last minute. As always, borrowers can review the final documents one day before closing, providing an excellent opportunity for you to review all the figures with your real estate agent and to ask any lingering questions before you make it official.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

According to a recent survey conducted by the National Association of REALTORS®, close to one third of existing home sales were either foreclosures or short sales (meaning sales in which the lender agreed to allow the home to sell for less than the amount outstanding on the mortgage). Indeed, it seems for now that these "distressed properties" have become the new "traditional" sales transaction.

This is why it is so important to seek the representation of a specially trained and qualified real estate professional. Sellers particularly need assistance in navigating these complex short sale transactions, and buyers need guidance if they are to take advantage of these delicate opportunities.

Obviously, real estate agents are among the biggest advocates for homeownership, and we strongly believe that any home lost to foreclosure is one too many. Regrettably, some circumstances arise where homeowners are simply unable to maintain their mortgage payments, and risk going into default. In those cases, a trusted agent's specialized knowledge can help secure a short sale and keep the sellers out of the grueling foreclosure process.

Aside from staying current on national and local laws that apply to short sales and foreclosures, realty professionals are trained in qualifying sellers for assistance, negotiating with lenders, protecting buyers, and limiting risk. Now more than ever, it makes sense for both sellers and buyers to seek professional representation.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Markets go up, markets go down. Sometimes we see it coming, sometimes we don't. It all depends on what both consumers and businesses are buying, and when. How can we tell if and when real estate will recover?

We need to ignore short-term fluctuations, like the spike in home sales last November, when buyers thought the first-time tax credit would expire. Then sales rates dropped significantly when Congress extended the tax credit and removed that original sense of urgency.

We need to pay attention to long-term forecasts instead. Consider that homeownership increases by roughly 1 million each year. There are 4 million births, 2 million deaths, 1 million new immigrants, 2 million weddings and 1 million divorces each year. All of those events spur people to buy and/or sell a home.

Crunch the numbers, and you'll see that we can expect roughly 60 million home sales in the next decade. Regardless of the subprime mortgage debacle, and the ensuing foreclosure crisis, real estate will remain on the rails, an unstoppable freight train barreling towards homeownership.

Just as surely as the market sees recovery, buyers and sellers still need representation in these transactions. A recent survey by the National Association of REALTORS® reveals that 80% of buyers and sellers would recommend their agent to family and friends. That's a loud signal of the value of representation.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Sure, it's a legitimate question: Can you sell your home without the representation of a professional real estate agent? The legitimate answer is, Of course you can - but that begs the next question of whether it makes sense to do so.

One assumes that sellers want to obtain the highest price possible. Otherwise, the home could simply be auctioned, or sold to the first buyer who offers. Getting the best price depends upon exposure to the widest, most qualified segment of potential buyers.

An ad and a yard sign are not enough to create that exposure. While agents spend untold dollars on advertising and signage, those only attract about 20% of actual buyers, so just one ad and one yard sign will yield even less.

So where does the lion's share of motivated buyers come from? In a real estate firm, they come from cooperating brokers and agents. It's logical, since serious buyers seek the assistance of agents who save them time and money by matching their needs against large inventories.

The only buyers attracted to properties “For Sale By Owner” are ones who want to save the same commission that the sellers do! You can choose to represent yourself in this competitive industry, but it may cost you.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

You know that it takes planning and preparation to sell your home, and the same applies to making a purchase. But whether buying or selling, you'll also have to put a lot of thought into Moving Day. After you've gotten three in-home estimates from professional moving companies and made your choice, start packing!

By starting your packing well in advance, you're actually less likely to pack things you no longer need. Sort those items separately as you go, and then have a yard sale or get receipts and deduct your donations.

When it comes to packing materials, you can save both money and the environment by using what you've already got. Instead of bubble wrap or paper, use towels, sheets, and other soft items to wrap your breakables and save space.

Label each box by number and room, and keep an inventory of its contents. Save a couple "load last" boxes for easy access on moving day and your arrival (towels, sheets, toiletries, medications, etc.).

When you do arrive, try not to be overwhelmed by all the piles of boxes. It's a lot more fun to unpack and rearrange in your new home than it is to load everything up. If you're properly organized, you can quickly get settled. Just work on one room at a time and be sure to start in the kitchen!

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Lenders are an increasingly difficult crowd to please, so if you're looking for the best deal on a mortgage, you need a couple of strategies to improve your credit score. Lenders use that number to determine your risk of default, and it may be the single most important factor in your application.

Scores range anywhere from a very risky 300 to a perfect 850. You'll need a 750 today to get terms a 700 would have gotten you two years ago. Begin with a $16 investment at myfico.com, where your three reports from Experian, Equifax and TransUnion are averaged into one representative score.

A Zogby poll reports that one third of all people who request a credit report find errors. Your score is only as accurate as your information, so scour your report and correct errors immediately. This could boost your score by as much as 200 points!

The largest percentage of your score is determined by your payment histories, but the second largest factor is your "card utilization rate," or your total balances compared to your total credit limits. 10% is the ideal number (like $2,500 in charges when you have a $25,000 line of credit).

If you correct errors, have an excellent payment history, and get your debt-to-credit ratio down, you can expect to save thousands with a lower interest rate on your mortgage.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

The painful truth: Sellers who do not price their property competitively are the most likely targets of lowball offers. In soft markets, buyers are more prone to make low offers on listings seen to be priced too high. Listings that don't sell usually require price reductions, which in turn often mean ultimately accepting an offer lower than you could have received by pricing aggressively from Day One.

Since selling your home can be such an emotional and subjective experience, it's easy to understand why you'd be reluctant to counter an offer below your asking price. But rather than feel insulted, try to see it as the beginning of a dialogue that could ultimately produce a sale.

If you feel any of the terms or conditions of the offer are unacceptable, ask your agent to present a counter-offer. Sometimes buyers and sellers don't really know beforehand what price they'll accept until they've begun the negotiations. For example, a buyer might agree to a higher price than planned if interest rates suddenly drop.

If you've received a lower than expected offer, but the buyers have proven their qualifications and commitment by securing loan pre-approval, you have grounds for serious consideration. The process of counter-offering can be swiftly settled or carry on ad nauseam. Be prepared to explore all options and act quickly before letting your negotiations fail.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

When you buy a home, or just make an offer, you will encounter the term "escrow account." Like making a friendly bet and asking a third party to hold the wager money, the "escrow agent" is the neutral party that holds funds in the interest of the mortgage lender and the borrower.

When the terms of the purchase and loan agreements have been met, the money is released. When your application is approved and the loan takes effect, the lender will likely require money for property taxes and homeowner's insurance also to be held in escrow. These funds are added to your monthly mortgage payment and disbursed when the tax and insurance bills are due.

This protects the lender by ensuring a lien isn't placed against your property for non-payment of taxes, and your home (their collateral) is protected against catastrophe. But escrow also benefits borrowers by spreading the large annual payments for taxes and insurance over twelve months.

For example, if your taxes are $1,600 per year and your insurance is $800, you're budgeting a reasonable $200 per month instead of making two big payments. Escrow accounts do not earn interest, so if you make a large enough downpayment, you may be able to avoid the monthly escrow and pay the bills directly. Give us a call to find out about the pros and cons.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

If you’ve followed advice given here about sprucing up your home's exterior, well done! Now let’s focus attention on the next thing potential buyers will see - the front door and the interior. Now is the time for spring-cleaning and to show off your home's best features.

Repaint that front door and touch up around the entry. Make it warm and welcoming with updated light fixtures at the entrance and foyer. Speaking of entries, check your windows and doors for energy efficiency. If they're not airtight, an investment in new windows and insulation will pay off handsomely and impress buyers.

Freshly repainted walls won’t hurt either, and you can achieve a bright, clean look with light yellow or cream on the walls and contrasting white woodwork. Buff up your wood floors, clean your area rugs or carpets, and replace any worn carpeting before your first showing.

Buyers look carefully at bathrooms, so be sure to remove any spots of mildew, replace caulking, and consider a small investment in a new sink and vanity to really make things sparkle.

The icing on the cake is to offer buyers a "home warranty" on the appliances in your house, allowing them a full year of service on anything that happens to go wrong. Your pride of ownership and their peace of mind should combine to produce a sale!

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

There are two apparently attractive options for buyers scoping out a deal. One type is the "short sale," where sellers have made an agreement with their lender to sell the home for less than they still owe on the mortgage. The second type is the REO (bank-owned) home, which has fallen back into the hands of the lender after the sellers defaulted.

While these properties may be appealingly priced, buyers need stomach and smarts to take proper advantage. If you're considering a short sale purchase, focus only on those with a price pre-approved by the lender. Otherwise, you may be wasting precious time in negotiations that may still ultimately fail.

Also seek out foreclosures that are protected by the Cash For Keys program, which offers the current (or former) owners a cash incentive to prevent them from neglecting the property before vacating it. Either way, inspections are crucial, especially if the house has been vacant for some time. Talk to your agent about having the utilities temporarily reconnected for the inspection, so you're sure all is in working order.

And finally, don't focus on the asking price alone. Location in a declining neighborhood or extreme maintenance and repair issues will eclipse any perceived value in a low price. Great homes are out there at bargain prices, but let us guide you through potential pitfalls.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Have you done your "spring cleaning" yet? If you're selling your home, it's essential to take care of the details, both inside and out. Since buyers first see your property from the street, there are some steps you can take to pique their interest in seeing more.

Obviously, color makes an impact. Emphasize two or three colors in your flowerbeds and shrubs, and coordinate your blooms with the seasons, be it spring or summer. Also make sure your trees and shrubs are properly sized to the house and grounds, and not blocking any of your home's positive features.

Perfectly maintaining your lawn is critical while you’re listing, since a well-manicured lawn powerfully symbolizes your pride of ownership and attention to maintenance. You can reduce the time invested in mowing and watering if you can do some simple landscaping with rocks, ornamental grasses and drought-tolerant plants.

The sound of water also turns buyers on. Even if you don't have a pond, you can achieve the same effect by installing a small fountain in the front yard, or even running an electric fountain on your porch or deck.

Finally, there are a couple of architectural flourishes that add interest, such as colorful window boxes, a trellis with flowering vines, or even a pretty new mailbox. Contact us for a wealth of other ideas to attract buyers.

Michael Sinton, CRB, CRS, SFR, e-Pro

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Broker/Salesperson

First time buyers… excited to find a good deal, afraid of overextending themselves, confused by all the conflicting reports about real estate. Well, that might describe any or all buyers right now, but those making their very first purchase may feel elevated levels of all these emotions. It helps to have someone offer you some guidance.

Don't be afraid to make your move now, regardless of what you've been hearing about the market. With affordability so high, you'll find a flurry of activity out there, so you're not alone in making the right decision to begin your home search.

Just try not to exercise excessive caution, or you may suffer what has been termed "paralysis by analysis." Your real estate representative will present you with all the facts and figures you need, and help you to interpret the data so that you can make a sound choice.

Now is not the time to vacillate about whether prices or interest rates will still drop. There is nowhere to go now but up. If rates rise to 7.5% (still historically low), the home's price would have to be reduced nearly 20% to offset the difference in monthly payments.

Set aside your uncertainties. Chat with us to help you determine your financial footing, and show you an inventory of well-suited homes matched to your particular goals.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

This year’s tax filing season is behind us, but if you sell your home this year (or any other, for that matter), you'll find your home will shelter your taxes as well as your family. Specifically, the Taxpayer Relief Act of 1997 provides a substantial exemption on your capital gains when you sell.

In general terms, when you sell your home, the IRS allows you to keep capital gains – tax-free - of up to $500,000 (married filing jointly) or $250,000 (single taxpayers). That's right, no taxes on your gains, if you qualify.

It's fairly simple to qualify, with the most important requirement being that you've lived in the home for two of the last five years. And this is an exclusion you can claim again and again, theoretically every two years!

There are even provisions if you are forced to sell before you satisfy the two-year requirement, for reasons such as job change, illness, divorce, disaster or others. The exclusion on capital gains taxes is simply prorated in these cases.

For example, if you live only one year in your home before being forced to sell early, you can exclude up to one-half of the normal limits from capital gains taxes (up to $250,000 instead of $500,000 for married taxpayers filing jointly). As always, consult your tax professional to discover how to maximize the benefits of homeownership.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

You find a neat "fixer-upper," then learn that banks won't lend until the repairs are done, but the repairs can't be completed until the house is purchased! This Catch-22 scenario can be solved by HUD's FHA-backed 203(k) "rehab loan," growing in popularity because so many foreclosure purchases are in dire need of repairs.

This loan covers the cost of the home, plus money for repairs up to a maximum of $35,000! To get the ball rolling, you'll need funds for the 3.5% required downpayment, and then to find a suitable property. Your real estate representative will prepare your offer, stating that you'll be seeking 203(k) financing.

Next you'll apply to an FHA-approved lender, including a sheet listing each repair and its cost. Finally, an appraisal is performed to determine the value of the home once the proposed repairs are complete.

Upon approval, you'll have financed the home purchase plus all your proposed repairs (there's even a 10%-20% "contingency reserve" included to cover any unforeseen improvements). At closing, the seller receives the purchase price, and the remaining funds go into escrow, to be disbursed to the contractor as work is completed (within six months).

Real estate agents support this loan program because it expands homeownership and revitalizes neighborhoods, but all you need to know is that it will get you into a very affordable home right now.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

When you hear that someone managed to sell a home without representation, it's likely that the sale was to a family member, close friend, or a tenant who was already renting and living there. These exceptional cases are not the norm, and there are powerful reasons why it is so difficult to make a sale "by owner."

The biggest roadblock is that For Sale By Owners (FSBOs) aren't included in the Multiple Listing Service (MLS) that licensed agents and organizations use. A sign in the yard and an ad in the newspaper are no match for the widespread exposure gained from a listing visible on the MLS.

Since the FSBO has no listing agreement providing for a sales commission, many agents won't show these homes with no promise of compensation. Again, this greatly reduces the number of potential buyers exposed to the offering, not to mention the fact that buyers who do express interest will not have been screened by a professional to determine their qualifications.

Perhaps the most hazardous aspect of selling “by owner” is the potential for legal oversights and complications. Real estate transactions are loaded with potential liability for unrepresented and unwitting sellers. One overlooked form or improper disclosure could generate an expensive lawsuit.

Just as you wouldn't enter the courtroom without an attorney, you shouldn't sell your home without professional representation.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

"Timing the market" in real estate doesn't work the way it does with stocks. Homes are bought and sold more out of necessity than to make an easy buck. However, some indicators give a clue when it's a good time to buy. Like now!

Despite the fact that rates are low and prices may still drop, now is the time to move if you have good credit and funds for downpayment. It would be a mistake to "wait and see" if rates or prices fall any more. Why?

Rates are low now because of federal bailouts, but continued low rates can fuel inflation. Fear of inflation causes "the Fed" to raise those rates. Waiting for a lower price on a home while interest rates rise could make the home more expensive.

Example: purchasing a home now for $177,000 at 5% could make the total cost around $370,000 by the end of the loan term. But what if you wait for prices to fall more, and next year you get that home for $160,000. You saved $17,000 - right? Wrong!

If rates rise 2% during that time, you could pay over $400,000 over the life of the loan - $30,000 more than if you bought now! If the math is still fuzzy to you, give us a call and crunch the numbers. You'll be glad you did!

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Many retirees are facing dwindling incomes from their battered investments, which explains why applications for "reverse mortgages" have risen nearly 50% in the last two years. It sounds like a great option: a lender essentially gives you a cash advance on your home's equity, which doesn't have to be paid back until you either move or "move on."

There are drawbacks hidden in the details, however. Although recent legislation has raised maximum allowable home values, the formula for determining how much you'll get includes other factors like your age and current interest rates. Your current mortgage balance and the loan's fees are then subtracted from that number.

Although loan origination fees have been capped at $6,000, the monthly mortgage insurance premiums and service charges could push the total cost of the loan up to twice that much. If you think you might move anytime soon, this just doesn't make sense.

While anyone 62 or older may qualify, it's the youngest who run the biggest risk with a reverse mortgage, because you may very well outlive the life of your payments. When that happens, the equity you would have fallen back on has disappeared.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

With all of the changes enacted in real estate and related industries, the appraisal process has not been immune. Because lenders were found to be pressuring the appraisers they hired, banks now must largely work with independent appraisers, and they're finding themselves buried in a backlog of jobs.

Because of their workloads, appraisers will gladly consider any information you can provide about your property, and will hopefully generate a more accurate report. As a seller, list the best features of your home, including recent improvements, professional landscaping, or even benefits of your location (like access to public transportation and schools).

While you won't necessarily be graded for your housekeeping skills, appraisers do pay attention to the very appearance and cleanliness of your home. You can positively affect your appraisal's outcome if your lawn is mowed or raked, your windows sparkle, and your closets look spacious. Appraisers are practically looking through the buyer's eyes, so pretend you're preparing for an open house before their arrival.

Finally, be sure to request a copy of the report, because lenders are required to provide it, but you've got to ask. If you find any errors in important features like square footage or property description, contact the appraiser directly. Let the lender and your agent know, too, but understand that they cannot take any direct action under the new rules.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

It has been estimated that termites cause $5 billion in property damage every year in this country. That makes them more of a threat to homeowners than flood, wind, or even fire. And yet, the Federal Housing Administration (FHA) demands separate termite inspections only if the state or local laws require it, or if there is an outright suspicion of damage.

Termites thrive in the warmer climates of the South/Southeast and West/Southwest, but states on the East Coast and even in the Midwest have areas of high risk. Outside those regions, still all it takes is the right combination of warmth, food and moisture to invite a termite infestation.

As a homebuyer, you would be well advised to determine whether the home you are offering to purchase is under a termite protection plan, and to seek a separate termite inspection, even if it's not required. Older homes in particular may be at risk, because of the possibility of cracked foundations, but even new homes could be potential targets if the builders did not correctly perform termite pretreatments.

You probably won't notice the little buggers until the damage is already done, so be sure to get your home into a termite inspection and treatment program as soon as possible after your purchase. If you have any doubts about inspections, ask your real estate representative for advice.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Applying for a home loan today sure isn't what it used to be. Buyers who would have qualified just a year or two ago are now facing rejection, but all hope is not yet lost. If you find a home you love offered by motivated sellers, your real estate representative may be able to negotiate a lease-to-own option.

Usually, a portion of the monthly rent paid goes into escrow, where it accumulates for the eventual downpayment. It's a fairly painless way to save up money so you can get the home you want now, even if you can't put enough down to qualify for financing. Within an agreed amount of time, usually three to five years, you will have then saved enough to secure a loan and complete your purchase.

Simply paying rent is like throwing your money away, but a rent-to-own option actually helps you build equity while you’re making your monthly payments (like a mortgage!). Many sellers find this arrangement attractive too, because it generates regular income for them in a still recovering housing market.

You might be wondering why a real estate agent would even bother to offer a lease-to-own option instead of an outright purchase, but in these cases, the agent is often paid a rental commission, and then a sales commission once the transaction has completely closed with a purchase.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Michael Sinton with Assist-2-Sell Realty Brokerage Group has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves.

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

You may be hearing that things are improving in the residential real estate market, and while that is true, not every area is experiencing the euphoria yet. Even where sales are making gains, it often still depends on the ranges of listing prices - bargain foreclosures, mid-range homes, or high-end properties.

My last two columns addressed the approaches that buyers and sellers should take when the transaction involves homes in the first two categories, but luxury listings are a different story. Between the economy and the credit crunch, this top 10% of listings is suffering, largely because lenders aren't committing to financing such large loans.

As high-end prices will probably still drop, buyers who do qualify for financing have more power in negotiating these sales. However, seek loan pre-approval before you make any offers. Jumbo loans require larger downpayments at slightly higher rates, and qualification takes time.

As the seller of a luxury home, you may have to bite the bullet and undercut your competition, if you're truly committed to making a sale. Use your agent's Competitive Market Analysis to make your pricing decision, and if you can, offer to finance the deal yourself.

The painful truth in this high-end market is that recovery will take longer, so you shouldn't hesitate to set a lower price and offer other concessions to make your sale happen.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

My last column discussed how real estate is beginning to recover, although not everywhere yet. Whether you're buying or selling, you need to be aware of local conditions, and adjust your strategy according to the value of your home.

We've already covered a couple tips for the least expensive homes on the market, and now we'll look at the middle tier of properties. While these listings are seeing more activity than luxury homes, demand is still soft compared to the often bargain "distressed" properties on the market.

Buyers are facing some difficulty in trading up, because their equity has taken a hit over the last few years. As a buyer, it’s best to list your current home for sale and get it under contract before making an offer on the home you want. When you’re ready, reason dictates that you're safe offering 10% under the asking price in a still lukewarm market.

As a seller in the mid-price range, you'll need to make your listing stand out from the competition. Forget about incremental price drops and go for a big cut, which will draw the most attention. Or offer incentives like paying closing costs or a decorating allowance.

If the home you're selling or want to buy is in the luxury range, you'll want to read my next column for some tips in that market.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

The signals are out there: home sales are picking up and prices are slowly ascending. However, recovery isn't obvious everywhere yet. Most markets are still seeing the cheapest homes selling fastest, while mid-range homes are taking longer, and upper-end properties are languishing.

Whether buying or selling, your best strategy in this dynamic marketplace depends on which tier your property sits. This column will begin by offering advice for that bottom tier of the most affordable homes. My next column will discuss the mid-range market, and then finally we'll get around to those most expensive properties at the top.

Most of the two million recent foreclosures have made up the bulk of the least expensive homes on the market. Bargain prices and a federal tax credit have lured investors and first-time buyers into the fray, increasing sales of $100-$250K homes by 9% over the last year. Buyers should act quickly and submit their offer with due haste. If your offer isn't accepted, keep checking back, because deals commonly fall through.

While it's hard to compete against foreclosures in the pricing category, they’re often in dire need of repairs. Sellers can increase their odds of success by offering their home in "model condition" at a fair price. Whether you’re a buyer or a seller, watch this blog for more advice on making your sale or purchase work.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

It’s probably no surprise that homeowners who have faced the ordeal of foreclosure feel a certain measure of shame or guilt about their experience. Whether or not those feelings are warranted, it's hard to survive the process completely unscathed.

What is surprising is the recent development of "buyer's guilt." Some who are fortunate enough to afford to take advantage of a low-priced foreclosure offering are suffering some degree of remorse about the transaction.

Whether it's because they got a deal that none of their friends or family did, or whether they just feel badly about someone else's unhappy situation, the emotions are real, but should be approached in a different way.

These buyers are not necessarily capitalizing off someone else's misfortune, but actually helping by removing a distressed property from the market and maintaining property values. It's actually good for the market and the local economy for buyers to take advantage of these bargains.

If you have some doubt about buying a foreclosure, you can ease your concerns and do some good for others. When you make your move, why not make a donation of household goods instead of packing them in boxes? Certainly a local shelter or charitable organization like the Salvation Army can improve the lives of others with your kindness, and put you in a great frame of mind about your move!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Although less than ideal, sellers are seeing more "contingency" contracts, wherein the buyers make their offer contingent upon being able to sell their own home first to complete the purchase. If the buyers aren’t successful, their Offer To Purchase becomes null and void, potentially leaving the sellers at Square One.

A compromise has developed, called a "kick-out clause," which is wording included in the contract that allows the sellers to continue marketing their home, even while under contract. If the sellers receive another offer, the buyers are granted a “kick-out” period - usually 72 hours - to respond by removing their sell-first contingency or by securing financing and completing the purchase.

Unfortunately, the chances are that most buyers who must sell first likely won't qualify for another loan on the new property. If the buyers fail on both counts - selling and financing - then the sellers have the right to accept another offer from qualified buyers.

While this might seem to put the buyers at a disadvantage, the sellers must have some sort of protection against an offer that could tie up their listing indefinitely and perhaps never be consummated.

Consider including language in the contract that also requires the buyers to begin aggressively marketing their own home within a specified period. If the buyers don't leap to action, the contract can be voided.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Phew! After four years of declining home sales, the numbers appear to be finally turning back upward, with closed sales and pending contracts at above-normal increases. In particular, first-time buyers helped buoy the market by taking advantage of low prices and interest rates, as well as the $8,000 tax credit offered by the federal government.

At least for now, home prices remain attractively low, and mortgage payments as they relate to income are very comfortable. All the information seems to point to the fact that home prices have actually overcorrected downward. What does that mean? It indicates that many markets may experience a price "snap back," with values increasing a lot more than the historical average of 4% appreciation per year.

Some factors may continue to make buyers cautious, mostly declines in retirement savings and a lukewarm economic recovery with unemployment hovering around 10% nationally. Now is not the time to hesitate, however, as mortgage interest rates are expected to rise in 2010.

We can expect the momentum of home sales to continue, especially with the extension of the tax credit through April and the fact that qualification is no longer limited to just first-time buyers. Prices and interest rates will rise this year, so buyer confidence should be at an all-time high. The pressure cooker of pent-up demand is about to blow its top!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Selling your home in anything other than an active market can seem challenging, but what do you do when yours is only one of many homes in your neighborhood with For Sale signs? Surprisingly, there are actually some advantages to marketing your home in this situation.

More buyers are drawn to neighborhoods where they can preview more homes at once. More buyers means more opportunities for your home to be seen and to attract an offer, so make your listing stand out against your competition.

Price your home aggressively after reviewing the comparable sales figures provided by your real estate representative. Don't give your neighbors the advantage of looking like a bargain compared to your listing - take it yourself and show buyers what a great value you're offering. If you're competing against foreclosure listings, having your home in "move in" condition helps, because foreclosures often need lots of repairs.

With this much activity in the neighborhood, make sure that your home is available for showing on literally a moment's notice. Buyers who come to look at other listings may spot yours and want to see it right away to make comparisons. Be prepared for "impulse" prospects with good housekeeping and an escape plan for unexpected showings.

Finally, don't worry if your neighbor sells first - that just makes for less competition in your market!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

It’s the best news in real estate since last year’s First Time Home Buyers Tax Credit: an estimated $22 billion will pump into our economy as a result of the government not only extending the tax credit, but including current homeowners, too.

The existing $8,000 maximum credit stays in place for first-time buyers. A "first-time" buyer is one who has not owned a home during the three years prior to the purchase. However, repeat buyers who have lived in their home for five of the past eight years may also qualify for up to a $6,500 tax credit on their purchase.

Unlike before, as long as the property is under contract by April 30, 2010, buyers will have an additional 60 days to close by July 1, 2010. The credit applies to single-family homes, condominiums, townhomes and co-ops.

The qualifying income limits have been increased as well, up to $125,000 for individuals and $225,000 for couples filing jointly. If an individual makes up to $145,000 or a couple up to $245,000, the credit can still be claimed, but at a reduced percentage. Any incomes over those amounts won't qualify.

If your tax credit totals more than your tax bill, you'll receive a refund! Approximately 2 million people are expected to take advantage of this buying opportunity, so jump to action before the April 30 deadline!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

If you can hear the whispers below the din of panic, you know that the recent financial and housing collapses have actually created some amazing opportunities for smart investors. Low interest rates and depressed property values have combined in an environment favorable for long-term gains.

It may not be for everyone, but if you're in the right financial position, you have plenty of options. However, there is a right way and a wrong way to invest, and it's the wrong way that led so many to suffer in the recent housing crisis.

Don't think about investing in real estate until you've saved up for your nest egg and have held or reduced your expenses to keep it growing. Your money doesn't work for you unless it's your money.

Similarly, don't begin your investment adventure until you've polished up your credit score. The best opportunities go to those with upfront cash and excellent credit. Maximize your borrowed capital by making sure you get the lowest interest rates and best terms.

It then follows that you should not over-borrow. Real estate markets are continually cycling up and down. Learn the lessons of the recent debacle, and don't over-leverage yourself to the point you can't survive a down period in the cycle. If you're smart about it, you won't get rich quick, but you will get rich right!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

With markets so rapidly changing, it's easy to imagine how property appraisers might sit in a darkened room, waving their hands over a crystal ball, and producing the mysterio

us and all-powerful document of a home's value. Let's dispel the notion of magical figures and look more carefully at the process.

When comparing against similar properties, it's not just the final price that counts. Appraisers also factor in any "incentives" offered, such as sellers who pay closing costs or remodeling allowances.

Perhaps the most important factor that lenders review in an appraisal is the closing dates of the "comparables" (other homes by which yours is measured). Unfortunately, with today’s stricter lending requirements, most "comps" must have sold within the last 60 or even 45 days to carry weight. Markets change so quickly that any sale price over two months old may be completely irrelevant.

Now a few words about how foreclosures in a neighborhood affect determination of value. Technically, appraisers shouldn't consider them, because they don't fit the Appraisal Institute's definition of "a property reasonably exposed in a competitive market." However, if several area homes have been abandoned, we know the negative effect that can have on a home's “perceived” value.

If you're planning to sell, express your concerns about the appraisal process to your representative, who will offer explanations and suggestions for improving your report’s results.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Mortgage applications are being reviewed far more thoroughly now than in the past, and your credit score should be 680 or higher to qualify for the best interest rates. So how do you determine your score, and know you're getting the credit you deserve?

Everyone is allowed one free credit report per year from the three reporting agencies (Experian, Equifax and TransUnion). Review the reports for accuracy and act quickly to correct any errors or omissions.

Approximately 35% of your credit score is based on the timeliness of your payments. Make sure that no late payments older than seven years are still on your report.

If you have paid off loans or credit cards, a zero balance should appear on those accounts. Sometimes, agencies don't properly update those balances after settlement.

15% of your credit score is based on the length of your credit history, so make sure that the opening dates of all your accounts are accurate. Also make sure that the limits on your credit cards are correct, and keep the balances under 50% of those limits. Total debt accounts for 30% of your credit score.

Finally, think twice about closing credit card accounts with zero balances, because this negatively reduces your ratio of "available credit" to your debt. First, get the facts. Then, make corrections. Finally, apply for home financing with confidence!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

While not a very common problem, if you've got it, it can have a terrible impact on your listing: The Messy Neighbor. If you live next door to a "neglected" property, you might lose up to 20% of your home's market value, particularly with buyers looking for any excuse to reduce their offer.

It's technically not your problem, but ask not for whom the bell tolls. It's well worth your time and effort to resolve this situation amicably. Always be respectful, and don't let your emotions get the best of you.

Unless you believe your neighbor is "unhinged," you should begin with a visit to their home and a positive attitude - no name-calling or finger-pointing. Don't grab everyone on the block and gang up on your neighbor - you'll get better results if you go alone or with one other person.

If you find your messy neighbor is unwilling to take care of their maintenance, it may still be in your best interest to do the work yourself or with the help of other neighbors. No, it's not fair, but if you want a fair sales price, this may be your only option.

As a last resort, you could file a complaint with your property owners association or city government. You could be referred to a mediator who will help settle your disagreement cordially.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

As you've already read here, conditions are ripe to become a homeowner, and it's time to determine if you’re ready to make the leap. While the price of the home is the largest factor, don't forget about loan fees and closing costs, which add to your total financed amount.

Since banks are stricter in their lending, Step One is to polish up your credit report. A higher score gives you more power when it comes to negotiating terms and interest rates.

Similarly, a larger downpayment will positively affect your mortgage terms and reduce the amount you have to finance. If you can't manage 20% down, you will likely have to pay a monthly mortgage insurance premium.

Upon preapproval from a lender, you’ll know how much loan you qualify for, and how much is required for the downpayment. It's best to secure preapproval before you begin looking at homes, especially since sellers will see your offer as a solid one worthy of consideration.

In addition to newer fees being assessed on loans to less than stellar applicants, there are standard closing costs associated with the purchase, including appraisals, legal fees, credit reports and more. All are included up front on your settlement statement and some may be negotiable. Contact us today to get the ball rolling and find out how much home you can afford!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Many areas of the country are experiencing buyers markets, and current tax laws make this a very attractive time for parents to help their children become homeowners. Prices and interest rates may never be lower than they are now, so strongly consider this potential investment in your children's future.

As parents, you can provide a significant downpayment, free of taxation. Individuals may gift up to $13,000 per year, so two parents making gifts to their child and spouse can give a total of $52,000 in one year without paying gift tax!

Above and beyond the outright gift, you may loan your family money, as long as you charge a minimum interest rate, which is currently very low. Then you can make your gifts each year, and your child's family can use the gifts to pay the loan!

If neither of these options is attractive, you could purchase the home yourself and then set up a Qualified Personal Residence Trust (QPRT), with the home passing to the children at the end of an established term, tax free. You will need to consult with your financial advisor and employ an attorney to handle this kind of transaction.

Begin by meeting with a real estate agent and explaining your situation. Contrary to what you may have been hearing, there is practically no better investment today than real estate.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

When you receive an Offer To Purchase, you are likely to focus on the price. You might be ecstatic over a full price offer, but you should be aware how "contingencies" could affect the likelihood of success.

Almost every offer has a mortgage contingency, stating that the buyer will secure financing at a certain rate and for a certain term. Make sure these factors are realistic. A buyer seeking a 30-year loan at 4% with no points may be hedging their bets if your agent advises that these loans are typically written at 7% with 1.5 points. Unrealistic terms can allow the buyer to back out if they get cold feet or find another property they prefer.

Another sticky contingency more common these days is when a buyer states that they must sell their home before they can finalize the purchase of yours. There has to be a realistic time limit, so the buyer doesn't tie up your listing.

It's wise to respond with a "kick-out" clause that allows you to keep your home on the market while the buyers promote theirs, offering them a 72-hour period to fulfill the contract if you should receive another offer in the interim.

These two examples are just the tip of the iceberg, so sit and discuss each line of the offer with your agent before making your decision.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

The question on everyone's lips is, "When are things going to return to normal in real estate?" Well, if the "normal" being referred to is the conditions and shady financial dealings that created the artificially inflated markets of five years ago, then we need to be thinking about redefining “normal.”

The bad lending practices of the past are indeed making it more difficult now to secure financing, but try to understand that's not necessarily a bad thing. Those days of lower standards and easy money led us into this predicament in the first place. It's good for housing and for the economy when banks become interested in whether loans will be repaid.

In the “new” normal, home prices will stabilize, the number of sales will start gaining, and more people will again realize the benefits that homeownership offers, for both personal and financial security. With historically low interest rates, affordable prices, government incentives, and motivated sellers, the housing market is already experiencing the initial signs of recovery.

All of these factors combine to get first-time buyers excited about a purchase. As these consumers enter the market, they will trigger other purchases, and the chain of transactions grows. Expect your real estate representative to reveal a wide range of affordable choices and guide you toward securing the financing you need to make your dream come true.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

After you've taken step one to decide to sell your home, step two is usually setting your asking price, striving for a balance between generating offers and receiving top dollar.

We will perform a Competitive Market Analysis (CMA) to produce an estimate of your home's "fair market value," or that price that educated buyers will pay based on listings and sales of homes similar to yours. We will not establish the price, but only provide the information you need to make that decision yourself.

In a hot market, you have the advantage, but would still want to avoid overpricing, which is always unproductive. However, in a neutral or buyers market, you'll have to be particularly cautious in your approach to setting a price.

In soft markets, price reductions become more common, as well as fewer offers and longer listing periods. You have to first establish your priority: is it more important for you to sell quickly or to get the most money possible? Like it or not, one option simply must be more critical than the other.

Have a third party, like your listing agent, help you see your home as a commodity, with positive and negative selling points. Price your home objectively and competitively, be prepared to negotiate to reach an agreement with buyers, and exercise patience as you prepare your move.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

If you own or plan to purchase a home, then you know that insurance is not just a luxury, it’s a requirement. While you should not skimp on certain coverage items, there are some steps you can take to reduce your overall premium.

If you have a security system installed (and operating!), you might lower your premium by 5% or more. You'll just need to provide your insurer with a copy of your contract or latest statement. Also, while newer homes have smoke alarms already installed, hooking them up in an older home might also reduce your premium by as much as 10%.

Just like health or auto insurance, if you increase your deductible on homeowners insurance, you'll reduce your premium. Just be sure you're prepared to pocket smaller repairs like broken windows or damages from leaks.

If your policy is held by a company that also offers auto or health insurance, look into discounts for multiple policies. You could save a percentage on both your homeowners and auto policies, for example.

Another money (and time and stress) saver is to document everything in your home with a photographic inventory. Store photos, cds or videos in a fireproof box or, preferably, a safe deposit box off site. This will reduce the time and effort required to complete a claim, and guarantee an accurate replacement payment.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

When a homeowner faces default on their mortgage, there may be two options: foreclosure or short sale. Foreclosure can be devastating, both emotionally and financially. A short sale, or one in which the lender accepts a selling price less than the amount owed, is a better option for both the lender and the homeowner.

Regrettably, nearly seven out of ten homeowners proceed through foreclosure without ever listing their home for sale. This is due largely to perceived myths about the process, and we need to put a few of these misconceptions to rest.

First, homeowners assume the bank would rather foreclose than accept a short sale. Not true - foreclosure is often more costly for the lender, and short sales often sell for more than foreclosed listings. The banks are trying anything possible, within reason, to avoid the foreclosure process.

Next, homeowners believe there is a stigma attached to short sale listings, and that buyers have no interest in such properties. Not true - to the contrary, many smart buyers are specifically seeking out such offerings for the value they present compared to traditional listings.

Finally, homeowners often assume that there's not enough time to close a short sale before foreclosure is final. Not true - foreclosure is a lengthy process and there is time to negotiate a better result, but you need to start today.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Getting ready for a big move? You can't begin preparing too soon, because the average move takes over 200 hours! Count on us to provide advice and guidance during this seemingly monumental task.

Your first decision is whether to hire a moving company, or rent a moving van and ask friends and family for help. If you're using the pros, solicit quotes from several local companies who can visit your home and offer an accurate quote.

Next, begin sorting piles of items you'll want to sell in yard sales, donate to charities, or haul to the landfill. This is a great opportunity to give back to the community, and make a few bucks on the pieces you'll sell. Anything you eliminate now will lower moving costs later.

DO create an inventory of your belongings, in case you need to file an insurance claim for lost or damaged goods. Allow the professionals to do your packing, because if you don't, those items that you wrap and pack won't be covered by the mover's insurance policy.

Finally, invest in additional insurance with the movers and storage facility, if needed. It only costs about $10 for every $1,000 in high value items, so it's worth it for your peace of mind. Ask us for more details to make your move as stress-free as possible.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

If you've found the right home, how can you be certain you aren’t paying too much? Once you make your choice, it's quite likely you've also become well informed about property values. How is this so? Because before you made that choice, you probably looked at a variety of homes, possibly as many as six to twelve properties. That's called “comparison shopping.”

As you visited each home, you made value judgments based on size, features and amenities offered, as well as condition of the homes. Without realizing it, you compared prices, looking for the greatest value for your dollar.

Nevertheless, another aspect of your purchase further protects you from purchasing an overpriced home. Called an “appraisal,” it's a required step in the mortgage approval process. Your mortgage lender, who is putting up the majority share of the purchase price, also wants to be sure the home is not priced above the market.

Thus, the lender asks a licensed appraiser to determine the home's value for the record. If the appraised value does not at least meet the purchase price, the lender may not approve the loan or, at the very least, may ask for a higher down payment.

As the buyer, however, it's easy to spot the overpriced homes. They are the ones that have been on the market for some time - but remain unsold.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

If you are a homeowner who can no longer make your monthly mortgage payments, you still have opportunities to avoid foreclosure and the damage it would do to your credit. Although more complicated and more challenging, a "short sale" may prove to be the best alternative.

If you are unfamiliar with the term, a "short sale" can happen when your mortgage lender agrees to let you sell the home for less than you still owe on it, forgiving the difference. Why would a lender settle for such a sale? Quite simply, the lender may determine that they will still receive a higher amount of the remaining balance through a short sale than they would through the very costly and time-consuming process of foreclosure.

Why would a homeowner agree to sell the home for less than its value? As already mentioned, a short sale keeps you out of foreclosure and reduces the damage to your credit (and subsequent ability to purchase another home).

In the middle is the real estate agent, helping the sellers, the lenders, and the buyers navigate the complexities of the transaction to reach a satisfactory conclusion for all involved. Homeowners can trust their representative to be honest and to provide a fair assessment of value for all parties. You can trust your agent to be your advisor and champion during difficult times.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Yes, it's true, many lenders in recent years have written sub-prime mortgages that could only be expected to default. However, foreclosure is nothing new, and there are myriad reasons that a homeowner might be facing dire straits.

Challenges might include economic hardship due to job loss, bad health or divorce, or payments that jumped too high after a rate adjustment, or simply increased cost of living outpacing income.

Whatever the reasons, the best way to avoid foreclosure is to be well educated and prepared before making a home purchase, and anticipating worst-case scenarios before choosing the loan that is right for you.

If default appears inevitable, know that there is help available, with a "short sale" being the last resort for resolution. Such a transaction is called "short," because the home is sold for less than the amount remaining on the mortgage, and the lender willingly accepts some of the loss.

If you're facing foreclosure, contact your lender's loss mitigation department immediately. While you are in the midst of negotiations, keep a log of all phone calls - the date, time, contact person and discussion. Lenders are overwhelmed right now, so be patient and don't expect an immediate answer.

Whether it's a loan adjustment or short sale, there is a solution to the problem. We are here to help you along the way, so give us a call today.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

If you plan to move while your home is still listed for sale, you may face a marketing challenge - the vacant home. While lived-in homes may be more attractive during showings, there is much you can do to present your vacant property successfully.

On the outside, give your home an occupied look by asking a neighbor to park their car in your driveway, open and close your drapes, and retrieve any mail that still arrives. During the warm season, have a lawn service maintain the yard (in the winter, a snow removal service may be in order).

On the inside, create a sense of space by leaving some strategically placed pieces of furniture, like a few chairs, tables and lamps. You can create a "bed" by covering an empty mattress box or several moving boxes with a thick comforter.

If you remove furniture that reveals blemishes on the walls, repair and repaint those. If you notice that the carpeting is faded after you've moved furniture, consider replacing it if possible.

Keep it feeling pleasant indoors during all seasons by keeping your power on after you move, and having a neighbor or family member set the temperature at a minimum comfortable setting according to seasonal conditions.

We have even more suggestions for marketing a vacant home, so put our experience to good use... give us a call today!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Are you looking for some good reasons to take the plunge into homeownership? Certainly, there are many, but here are a few to chew on before you call an agent and begin your search.

If you haven't owned a home in the last three years, then you qualify as a "first time buyer," and you are eligible for up to an $8,000 tax credit if you purchase a home before December 1, 2009. Combined with low interest rates, now is an excellent time to seek financing and make your move. If you get a fixed rate mortgage, your monthly payment will always remain the same, while rent and everything else keeps going up.

The investment potential of buying a home is very attractive right now, because values that were driven down by foreclosures will climb back upward. That means the value of the home you buy now will rise, and soon, resulting in instant equity!

And think about the return on that investment. If you put $10,000 into the stock market and earned 10%, your profit would be $1,000. Put that same $10,000 into a home purchase that appreciates 10%, and you've made $10,000.

Finally, there is simply the security of owning your own home and having absolute control over making it as comfortable as possible for your lifestyle. Need more reasons? Give us a call today!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Sure, any steps that you take to improve your interior's appeal will go a long way towards wooing buyers, but it's the outside of your home that they will see first, and you know that first impressions count! Review some of these helpful tips to make your offering an inviting one.

Go green by seeding and fertilizing your lawn for a lush look. Also, bring your home out from hiding by trimming overgrown branches and shrubbery around the house. Give the impression of easy living by hanging a hammock in the front yard. Seriously, little suggestions like that really sink into a buyer's mind.

Give your flowerbeds and borders more striking visual appeal by applying mulch, and edge the beds and driveway, walkways and sidewalk. Planting annuals such as geraniums and petunias will also add to the impact and brighten up empty areas.

The final step in your outdoor "staging" is to powerwash your home's siding and the sidewalk and patio or deck. When you show pride of ownership and that you care about your home's presentation, it will resonate with buyers looking for value and a home in ready-to-move-in condition.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Most first-time buyers (who haven’t owned a home in three years) will qualify. If you're married, you and your spouse must both satisfy this description.

There are income limits for claiming the credit of up to 10% of the home's purchase price, which maxes out at $8,000. If your modified adjusted gross income (on IRS Form 1040, line 37) is less than $75,000 for individuals or $150,000 for married filing jointly, you can claim the maximum credit. For incomes up to $95,000 or $170,000 respectively, the credit is reduced.

This is not a tax "deduction," but a tax "credit," meaning that the amount you claim is reduced from your total tax bill! If you will owe less than $8,000 on your 2009 return, you'll get a REFUND from the IRS for the difference!

The biggest news is that in response to pressure from the National Association of REALTORS®, FHA lenders will allow buyers to use the credit to cover closing costs, buy down the rate or as additional down payment! I urge you to take this money from the government and make your move before December!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

When facing a mortgage default, most homeowners try to sell their home - fast. The technique that works in these stressful situations also works for the rest of sellers - namely, aggressive pricing.

As a seller, you control the three factors that determine how quickly your home will sell: marketing, condition, and price. Let's focus on that last element.

First, be clear about your goals. Can you hold out for the highest price you can get, or do you want to move on quickly? Unfortunately, the fact that you paid more than what homes in your neighborhood are selling for is irrelevant in today's market.

Forget about salvaging equity, and price your home aggressively against the competition. Overpricing keeps many buyers from even seeing your listing in their affordability zone. They'll see lower priced homes as a better value, while you'll wait until the lowballers come out of the woodwork.

Start your pricing decision with a Comparative Market Analysis (CMA) performed by your real estate representative. If you're truly motivated to sell quickly, price your home 10% lower than the selling (not asking) prices of other homes in your area.

Now your home becomes a bargain, and it will attract the attention of other agents and their qualified buyers. An attractive price, good condition and savvy marketing will result in offers and ultimately, a sale.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

A "buyers' market" is just what it implies - a market in which buyers have the advantage and exploit it. It's not a market that rewards foot-dragging, hesitation or indecision.

Unfortunately, all the factors that created the buyers' market we have today have been reported so negatively and rampantly by various media outlets that buyers are themselves too spooked to even enter the fray. Strangely, people were buying like crazy during the previous sellers' market, when the advantage was actually all to the sellers.

That's when buyers didn't fear paying too much, and now that prices are so low and inventories so high, suddenly buyers DO fear paying too much! However, it's impossible to purposefully time the market to buy at the bottom and sell at the top.

Once the market begins to settle and subsequently improve (and it will), the amazing buying opportunities we've been seeing will begin to disappear. With decreased buying activity now, pent up demand for homes will explode when the market recovers, and buyers will once again be competing for the best homes.

Don't rely on luck in the marketplace - rely on planning. Make a careful decision with a predictable outcome. Has the market dropped enough, right now, to make such a purchase? Absolutely! Forget about the top and the bottom and enter your "safe zone" with confidence.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

For any number of reasons, more people than ever are downsizing these days. Whether it's reduction in income, reduction in family size, or just a desire for easier living, smaller homes are becoming more attractive.

There are challenges associated with downsizing, but experience has taught some valuable lessons that you may find useful. Once you've decided to sell, start the moving process immediately. Your home will even show better once you've begun packing things away. As you decide what to keep, consider donating unwanted items or holding a yard sale.

Solicit family members for help, and see how many belongings might be passed along to family and friends. After all, they say that charity begins at home, right?

You can also "digitize" paper records with a scanner, saving them on your computer, or using an online storage service for an added layer of security. Just be sure electronic versions of certain records are legally acceptable.

If you're still left with a lot of furniture and accessories, you should strongly consider including such items in the listing for your home. First-time buyers may be particularly attracted to such an offering, saving them time and money on furnishing their home, and expediting the entire transaction.

These tips may help you downsize, but of course, any move presents its challenges. Speak with an experienced professional today for more advice.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.

Real estate professionals are very often faced with a question from buyers that has nothing to do with houses: "What are the best schools in the area to which we’re moving?" When you relocate, the most important thing you'll be moving is your child, and you want to be certain you are making the right choice for education.

One excellent resource for beginning your research is SchoolMatters.com, an online database of public schools. Begin with statistics that illustrate students' achievement levels in each school. Compare reports for all students, including minorities and children in low-income families. Schools in which all students perform well are providing balanced educational opportunities.

Also pay attention to extra-curricular activities offered, particularly if your child is interested in sports and other pursuits outside the classroom. The School Matters database offers ratings and reviews directly from the parents, so you can learn from those with experience.

One thing you can't determine online, however, is the actual classroom environment, so you should absolutely schedule a visit to one or more schools in the area before making your decision. Meet with the principal and watch the manner in which teachers and students interact.

Once you have an understanding of the distinctions between schools, your choice will become clear. You wouldn't buy the first home you see, and "shopping" for a school is no different!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

After all your preparations and marketing efforts, what do you do when you get that first offer? Don't jump for joy or wallow in disappointment until you've read all the terms. Price is just the beginning, and other contingencies will ultimately affect your bottom line.

In reviewing the offer, pay attention to seller concessions, which can range from asking you to pay closing costs to including an allowance for roof repairs. Buyers may also request inclusion of certain articles of personal property not physically attached to the home. This might include the refrigerator or pieces of furniture. You can decline or accept the terms, but it's best to establish in your listing those items included and excluded in the sale.

Mortgage and appraisal contingencies indicate that the buyer will seek financing at a certain rate and terms, and that the appraisal must satisfy the lender. Make sure that all of the terms are realistic, and that there is a reasonable time limit for the buyers to secure their financing.

These and other terms in the offer impact how much you net from your sale, regardless of what actual buying price is stated. It's possible that a “full price” offer could result in thousands less than a lower offer with fewer contingencies, so please consult with a representative before listing and before accepting or rejecting any offers.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

When buyers become scarce, sellers have to step up and make their offering stand out to attract attention. Without spending a fortune, sellers can easily highlight several of their home's features.

First, beat buyers to the punch with a pre-listing home inspection. By discovering and fixing problems before buyers ever see the home, you can impress them with a worry-free, move-in-now opportunity. Leave your repair receipts out during showings, so that buyers can see all the improvements you've made just for them!

Once the mechanical and structural features of your home have been addressed, move on to the aesthetic details. First impressions count, so make sure your home is inviting from the curb. Spiff up landscaping, paint, entries, and windows.

Inside, pay attention to bath and kitchen details, because those rooms are often most important when buyers are making a decision. Aside from deep cleaning, consider updating bath and kitchen features with new and contemporary drawer pulls, faucets, and even sinks.

Finally, get a jump on your moving by organizing your closets and ditching or packing all you possibly can. A good guideline is to reduce your closets to half-full, so that the buyers can easily picture the space for their own storage needs.

A few "preemptive strikes" should be all you need to attract buyers and offers, so ask your agent for tips today!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

Have you ever thought of a home as a commodity? A commodity can be defined as a raw material or product that can be bought and sold. A home is not a raw material, but it is certainly built out of many, like a box full of wood, steel, cement, glass and copper.

Over the long term, home prices usually rise along with the cost of the commodities it takes for construction. While high inventories of housing may be keeping prices lower right now, the cost of the raw materials that are intrinsically tied to a home's value are rising, and rapidly.

With increasingly higher construction costs on the horizon, buying now is an ideal investment, and a hedge against the rising cost of commodities. Every home is a store of value for all the materials, the land and the labor involved in its construction. So the long-term value of a home is tightly connected to the cost of its production, making it a very different type of investment from stocks or bonds.

Investing in commodities has always been a great way to make lemonade from the economy's lemons. And what better way to buy into the commodities market than by purchasing a home? Sooner or later, home prices will be pushed higher by the rising cost of raw materials, so make your move now!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

In areas where home prices have significantly declined, some owners find themselves strapped with mortgages that total more than their home’s value. When options such as extending the term of the loan or negotiating a lower interest rate have been exhausted, then a short sale may provide the solution.

However, short sales are complicated, requiring approval from a number of parties, so you need the representation of a professional to make sure the transaction moves quickly. You can have more than half of the paperwork done before that first offer even comes in.

Most lenders require an application package to be completed by the sellers, including a financial worksheet, as well as a letter of hardship explaining why the owners cannot continue to pay the mortgage. The real estate agent can also help with other aspects of the required paperwork, which should be assembled before the property is listed.

While the bank may be willing in such cases to accept less than the mortgage balance, the buyer's offer must still reflect a fair price under current market conditions, so be sure to consult with an agent in order to arrive at a reasonable price that will be accepted by all parties, including the lender.

Short sales may not be easy, but they do provide an "exit strategy" for homeowners most in need of a solution.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

If you're planning to go bargain hunting, you are likely to come face to face with a special challenge: the long-vacant home. Many of these properties have been foreclosed, and now rest in the hands of the bank. The owners are long gone.

While the greatest percentage of these "distressed properties" are still in fair to good condition, how can you be sure of possible defects in the home when the previous owners are not available to disclose such facts?

Since the bank-owners and their real estate agent may not know all the details about the previous owners, you would be well-served by ordering a "pre-inspection" if you find an attractive property at a low price. Hire an inspector for a preliminary look, and do not make an offer until you know more.

You can pay just a couple hundred dollars for a brief inspection, money well spent before you submit a bid. Having an idea of the home's true condition can help you determine your offer, or help you make a decision to walk away from the deal, without any obligation.

If the utilities are cut off, ask your representative about getting them turned on during the inspection, which is critical to the inspection's accuracy. Take a careful look at recent sales in the neighborhood, and make your offer armed with knowledge and confidence!

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

A recent profile of buyers and sellers compiled by the National Association of REALTORS® has revealed promising, if not surprising statistics about the changing face of the marketplace. The percentage of first-time buyers is on the rise, and they are making their purchases for the long term.

Frankly, this makes sense, because first-time buyers aren't struggling with the sale of an existing home. Combine that advantage with low home prices, large inventories, and low interest rates, and the result is a positive trend for both buyers and sellers.

Recently enacted tax credits and modifications in the Federal Housing Administration are also helping buyers, along with predicted increased credit flow from a federal funds injection into the banking system. More buyers entering the marketplace means more sales, reduced inventories, and increasing home values.

The profile of sellers shows that over 90% used a real estate brokerage to market and sell their property. Buyers profiled listed the most important agent services as helping to find the right home and negotiate satisfactory terms and price.

If you're planning a purchase, and need funds for a down payment, learn from buyers in the study who mostly used savings or a gift from family, and who also chose a fixed-rate mortgage over 90% of the time. Consult with a trusted agent today, and get on board the home ownership train.

Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

Over 60% of American households have at least one pet, be it dogs, cats, or any variety of furry or feathered residents.  With the number of foreclosures in the recent past, you may not have considered the millions of pets faced with vacating their homes, or worse, facing abandonment because their owners are unable to find temporary shelter, as they themselves are forced to relocate under stressful conditions.

If you or someone you know is experiencing a similar situation, you'll be pleased to learn that a non-profit organization called No Paws Left Behind is educating the public and helping to provide solutions for "foreclosure pets."  Their mission is to assist owners with loan workout options, but they also provide resources for finding local no kill shelters, foster care programs, and other alternative housing for their pets.

When you visit their website at nopawsleftbehind.org, you can enter your ZIP code to locate shelters and other options for your pets. They have been working over five years now with borrowers and lenders on loss mitigation and default management, and even provide monetary assistance for deposits if you relocate and have to pay extra to keep Fido or Fluffy in your new digs. 

As homeowners, lenders, and the government all move toward resolving the current crisis, we should not forget those victims who cannot speak or act for themselves.

Michael Sinton, CRB, CRS e-Pro

Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, e-Pro,  Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

A “new” solution to the "gloom and doom" scenarios is on the horizon, and it's called "cause and effect." Just as home prices have fallen in many markets, buyers are responding strongly to the stimulus.

Like today's stock market provides excellent opportunities for investors in it "for the long haul," so too does today's real estate climate appeal to buyers with long-term expectations. And, the more buyers take advantage of current conditions, the more prices will eventually begin rising again.

That is due to a number of reasons, one being the subsequent drop in inventories, and another being the rising cost of new construction. So, those markets where home prices have dropped the most are experiencing a rise in the level of home sales taking place.

Areas where buyers are entering the fray again are well poised for recovery, and it's possible that the prices are finally bottoming out. The recently enacted housing stimulus bill is helping too, as over two million first-time buyers are predicted to take advantage of the new tax credit.

In 2009, those markets with affordable housing combined with healthy local economies will continue to see growth. Cause and effect is already in action, and you should be, too. Consult with a financial advisor and a local real estate agent to get the best results from this new but age-old formula.

Michael Sinton, CRB, e-Pro

Broker/Owner

For more information, contact Michael Sinton, CRB, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

You’ve probably heard the term "reverse mortgage," which refers to a loan that allows homeowners aged 62 and older to tap the equity in their home, without repaying it. This has become an increasingly popular way for retirees to generate extra income for living expenses and paying off debt.

However, high fees and aggressive sales tactics prompted the Senate Special Committee on Aging to recently issue an investor alert. The intention behind the warning is not to discourage reverse mortgages, but rather to encourage homeowners to make sure it's the right loan product for them.

The biggest downside to such an agreement is that the up-front costs for application, legal fees, document recording, and loan origination fees can sometimes top 10% of the loan's value. For this reason, the federal government requires meeting with a financial counselor prior to applying for a reverse mortgage, helping ensure that it's the best loan product for your situation.

In addition to a financial advisor, you are strongly encouraged to consult with a local real estate agent. Simply put, you might generate more income by selling your home and moving to a less expensive one, directly pocketing the equity you've worked so hard to build over the years. An agent can compare your home's value to other attractive properties on the market, and guide you to a profitable conclusion!

Michael Sinton, CRB, e-Pro
Broker/Owner

For more information, contact Michael Sinton, CRB, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

Mercer County, 1/13/2009 - Michael J. Sinton, Broker and Owner of Assist-2-Sell Buyers & Sellers Edge in Hamilton Township, was awarded the coveted CRB (Certified Real Estate Brokerage Manager) Designation conferred by the Council of Real Estate Brokerage Managers (CRB).

The Council of Real Estate Brokerage Managers (CRB), an affiliate of the National Association of Realtors^®, is the professional organization for brokerage management. The Council is dedicated to providing quality professional development programs, products and services that continually enhance the management productivity and profitability of its more than 7,000 members.

The CRB Designation is recognized throughout the industry as the highest level of professional achievement-a symbol of excellence in brokerage management. The most successful brokerages are owned or managed by professionals having the coveted CRB Designation.

The Council awards the CRB Designation to those individuals who successfully complete the requirements and demonstrate excellence in real estate brokerage management. Candidates must complete academic and professional courses covering such topics as finance, marketing, training, recruiting, and strategic planning.

Assist-2-Sell Buyers & Sellers Edge is located at 2622 Nottingham Way in Mercerville. A member of the National Association of Realtors^®, New Jersey Association of Realtors^®  and the Mercer County Association of Realtors^®, Sinton is also a member of  the Council of Residential Specialists, the Mercer County Regional Chamber of Commerce, National Notary Association, and The Free and Accepted Masons. Sinton has also been awarded the New Jersey Circle of Excellence Sales Award for 2002 through 2006.

The Council of Real Estate Brokerage Managers (CRB) is the central source for brokerage management information and education and is the voice for real estate brokers and managers within the industry. Members are at the forefront of new developments in brokerage management. For more information, call the Council Services Department at 800-621-8738 or visit http://www.crb.com/.

Fannie Mae and Freddie Mac - who or what are these entities, and why are they mentioned so often when discussing the current mortgage crunch? These two organizations either own or guarantee nearly half of all outstanding home loans. That's over twelve trillion in debt (that's a 12 followed by 12 zeros, or twelve million million dollars)!

So maybe you can see why the government took over and began overseeing their operations, bringing stability and continued liquidity to the national mortgage market. Both companies are placed in a government conservatorship, with the Fed taking up to an 80% stake. Progress is reviewed each quarter, and money injected into operations as needed.

Since the government is now explicitly backing the loans, the market for these securities is more like that for Treasuries, which lowers rates and benefits the real estate industry enormously.

Lower rates encourage more investors to return to the market. As that happens, rates continue to drop, and more funds go into the lending machine, further encouraging buyers to apply for financing. The result is increased housing sales, which helps to stabilize home prices.

As these companies and the Federal Housing Finance Agency plan a massive overhaul of operations, you can be assured that agents and the National Association of REALTORS® will provide feedback and help shape a better future for our housing industry.

Michael Sinton
Broker/Owner

A home's electrical system is its bloodstream, and when you’re buying, you want to know that the flow is strong and safe. While an inspection should be required in your offer, knowing just a couple basics will help you in making your choice.

Recently built homes have 220-volt service, meaning two 110-volt wires run into the house, below or above ground. Large appliances need that power, and you should pay attention if you're looking at an older home that hasn't been upgraded yet. Get an estimate from an electrician before moving forward.

Important question: “Where is the main panel, and does it contain fuses or circuit breakers?" Both cut the flow of electricity when the system overloads, but in very different ways. Circuit breakers are more convenient, because they just need to be flipped back on when they "trip," but fuses found in older homes have to be replaced when they "blow."

Looking at a pre-1960’s home? Ask if the main panel has been upgraded to accommodate breakers instead of fuses. And, if you're buying a very large house, or want to renovate an older one, make sure the panel can handle 200 amps for all your appliances and electronics.

Any electrical system can be upgraded, but consult with your agent and an electrician before making any purchase or improvement decisions. You've got the power!

Michael Sinton
Broker/Owner

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

While many buyers are aware that a mortgage pre-approval letter increases their buying confidence and power, most may not understand exactly why pre-approval is so important. Why should you jump through the application hoops before even beginning your home search?

First, you'll know exactly how much loan you can afford, making your initial home search much easier. Why waste your time looking at homes either out of your reach or well below your financial grasp?

Second, pre-approved buyers stand on solid negotiating ground with sellers. Sellers working with well-qualified buyers are more likely to accept the offer and less likely to stall on terms and conditions.

Notice that the topic of this column is "pre-approval," and not "pre-qualification." What's the difference? Pre-qualification is easy - you provide basic information to a lender, and in a few short minutes, you have an answer. Pre-approval requires strict verification of documentation relating to your employment, credit history, sources of income, etc. It takes more time, but is more accurate and carries more weight.

Understand that pre-approval is not binding, and is still subject to a satisfactory appraisal on the prospective purchase. If your financial situation changes, interest rates rise or fall, or the deadline passes, a recalculation will be necessary; but a little legwork now will pay off handsomely as you approach the finish line on your contract.

Michael Sinton

Broker/Owner

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

Regardless of the causes, most areas around the country are experiencing what is commonly referred to as a "buyer's market." That term might make sellers squirm, but for those purchasing a home, lower prices are just the starting point for negotiation these days.

During the recent "boom" years, buyers often accepted a property "as is," and asked for few concessions, even forgoing inspections and appraisals in an attempt to avoid being dumped for the next qualified buyer in the queue. Now, however, buyers are in the drivers seat and they know it, insisting on a variety of terms in their offers.

The most popular demand now seems to be the "home warranty," whereby the seller purchases a one-year service contract to cover any unexpected system and/or appliance repairs. Of course, this is on top of insisting that sellers pay for all needed repairs exposed by an inspection before closing, or at least an allowance paid to the buyers to cover the expenses.

Just one inspector doesn't seem to be enough, either. Now buyers are looking more closely at lead and radon levels, roofs and foundations, and looking into inspectors who specialize in these areas. Sellers find they need to be more flexible, or the buyers will simply move on to the next seller in the queue. Now is the time to boost your purchase power.

Michael Sinton

Broker/Owner

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

You don't need a crystal ball to try to predict the future of the real estate market. Every time there is a downturn, an upward trend always follows. The best course of action is to look at the causes, and make decisions based on unbiased facts and incontestable history.

As the choice of loan options grew these last few years, consumers could buy a home more easily. Wall Street took notice of all the hot action in real estate, and investment firms were able to shift the ownership of mortgages to their managers and clients.

Then about three years ago, the market began cooling, as incomes did not increase at the frantic pace that home prices did. Investors had created an atmosphere of unrealistically high appreciation. The perfect storm was brewing.

This cycle of up and then down seems more drastic now, because we enjoyed a longer than usual boom of activity, a full decade of it between 1995 and 2005. But demand still remains high, and although rising slightly, our historically low interest rates also help to fuel property purchases.

While there is no such thing as a national real estate market, we should be seeing improvement across the board as 2009 draws to a close. If you can, it's wise to buy now - before the ball lands back in the sellers' court.

Michael Sinton

Broker/Owner

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

If you're selling in anything other than a hot market, you might find "staging" your home can help generate more interest and offers. You needn't spend thousands of dollars on improvements or professional consultants, however. There are several things you can take into your own hands to improve your home's appeal.

Begin by removing scatter rugs and knickknacks, which can clutter a room. In the kitchen, remove all appliances from the counters except the coffee maker and microwave. Set your dining table in a welcoming fashion, with plates, flatware and napkins.

You might be tempted to throw everything into the closets, but buyers will look there, too, so box everything up and place into storage. Focus on the "feature rooms" - the dining and living areas and master bedroom - keeping additional rooms as sparsely furnished as possible. Do your spring cleaning now, scrubbing the walls and floors and shining up those windows.

It has been estimated that one out of four homes listed are "staged," and "The Complete Idiot's Guide to Staging Your Home to Sell" states that you could gain up to $9,000 on a $200,000 house if it's properly presented. You might spend up to $100 per room in time and money, but that's a pretty small investment for that kind of return. Your real estate representative will have even more suggestions.

Michael Sinton

Broker/Owner

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

When one hears the word "foreclosure," images are conjured of families unable to meet their loan commitments, and forced to consider unpleasant options. However, it's not only homeowners that suffer from a foreclosure. Renters can be "out on the street" if their landlord defaults on mortgage payments.

A report from the Mortgage Bankers Association states that nearly 20% of recent foreclosures have been against investors who did not live in the property, and even tenants in good standing face having to vacate the premises if they're renting one of these properties.

Why mention this gloom and doom scenario? Because home values have declined, and buyers are seeing the best deals in many years. While unpleasant for sellers, price declines increase affordability for buyers, so if you've been renting, now is a fantastic time to turn that monthly payment into equity.

Interest rates have inched up, but still-historically low rates combined with very affordable housing yield a formula that should put you in a home that you own for the same amount you are now paying for rent. Not to mention that at a lower purchase price, you'll enjoy some great appreciation over the coming years.

Just because you're renting now, you’re not necessarily safe from suffering the consequences of a foreclosure. Take matters into your own hands and buy yourself some peace of mind.

Michael Sinton

Broker/Owner

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

Consumer Reports recently published a survey, and the results indicate that there is, in fact, some good news in the real estate industry! While foreclosures and other economic factors still exert some negative impact, those buyers and sellers who have worked with real estate professionals expressed a high degree of satisfaction, both with their representatives and with their bottom line.

Nearly 10,000 consumers were surveyed, and nearly three-quarters of those buyers and sellers reported that they were very or completely satisfied with their agent. More good news: 86 percent of sellers who listed with a professional made the sale! (Many of the remaining percentage still had their homes on the market at the time of the survey.)

Other results showed what all agents already know, because over four-fifths of consumers who listed through a broker netted an average of only $5,000 less than their asking price. On the flip side, two-thirds of buyers who used a representative paid about $5,000 less than their purchase's original listing price. (The remaining third, who negotiated on their own, ended up paying very close to the asking price.)

So what do all these statistics mean to you? Regardless of your market’s conditions, when you face the need to buy or sell your home, you'll get the best results when you seek the representation of a qualified real estate professional!

Michael Sinton

Broker/Owner

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

Buyers and sellers develop a natural sense of excitement as a transaction's closing date nears. While most aspects should run smoothly, it's wise to be prepared for unexpected delays. Anticipating potential problems before they develop could save untold time and stress.

One pitfall might be the title search. The title is simply legal proof of a property's ownership, but issues such as death, divorce, and liens can cloud the final result. Meet with an attorney to determine and resolve any problems.

Financing can also present snags. If the buyers can't qualify for a loan, the deal falls through. Buyers should begin their mortgage education well in advance of their home search, and sellers should ask a price in line with the home's appraised value. If the appraisal is much lower than the contract price, the lender will likely reject the loan application.

The best situation for buyers (and sellers) is to have a loan pre-approval in hand. It starts with the loan officer performing a review of the buyer's credit, income, and asset v. liability status. A letter of pre-approval should indicate exactly how much home a buyer can afford, and should put sellers more at ease with pre-qualified buyers.

There are myriad aspects to closing the deal, so go over each item thoroughly with your real estate representative and develop your plan of action!

Michael Sinton
Broker/Owner

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.

If you're a homeowner, what do falling prices mean to you?  You might assume that it's a bad time to sell.  But guess what?  It could mean it's the perfect time to buy the home of your dreams!

Do the math, and you see that market downturns can actually work in your favor.  Homes are listing at prices that are truly affordable.  If you've already built equity in your current home, you could parlay that into the purchase of a terrific property. 

When prices do rise again, and you know they will, you will have made an excellent investment for the future.  If the home you really want was previously offered at $500,000 but the price has fallen - let's say 20% to $400,000 - that's a sweet deal, even if your own home has lost some value.

In any home purchase, there are usually some concessions: location, style of architecture, or any number of features.  If you made some concessions when you bought your current property, and you can replace the negatives with the positive features you've found in another home, now is the time to make your move!

Once the market turns around - and again, you know it will - you'll find your appreciation will be greater in the new, larger home.  It's an upgrade at an opportune time that makes good investment sense.

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.wesellcentralnj.com/.

Assist-2-Sell comments on this week's settlement between the National Association of Realtors and the U.S. Department of Justice regarding an anti-trust complaint that was originally filed against NAR in 2003.

  Reno, NV, May 29, 2008 -- Assist-2-Sell, the leading full-service discount real estate company, is encouraged by the proposed settlement reached this week between the National Association of Realtors® and the U.S. Department of Justice.

The settlement of allegations of anti-trust violations against NAR puts an end to a protracted battle that began in 2003. It started when NAR, in response to pressure from Realtor® members, passed new rules and regulations that blocked Internet-based real estate companies from accessing Multiple Listing Service data. The DOJ filed a complaint because they believed these restrictions were not in the best interest of consumers. This week's settlement, while proclaimed by NAR as a ‘Win-Win,' appears to give the DOJ what they wanted: Accessibility to MLS data by real estate companies who seek to do business primarily over the Internet.

Mary LaMeres-Pomin and Lyle Martin, co-founders and co-chief executive officers of Assist-2-Sell Inc., had these comments on the settlement:

"This week's proposed settlement between the National Association of Realtors® and U.S. Department of Justice does not directly impact Assist-2-Sell because we have always had full, unrestricted access to the Multiple Listing Service. NAR's past policies were obviously targeting online real estate brokerages. While our business model certainly takes full advantage of the Internet, we have more than 500 ‘brick-and-mortar' offices staffed by full time brokers and agents. We personally believe the best solution combines full-service ‘feet on the street,' in the form of experienced, knowledgeable local agents, with a discounted and more competitive fee.

"As a ‘non-traditional' real estate company that has received its fair share of opposition, we are encouraged by the broader implications of this settlement. We believe it demonstrates that the industry is at least willing to acknowledge that how we buy and sell real estate is changing. We hope this will encourage further innovation and wider acceptance of alternative business practices.

"Assist-2-Sell has consistently maintained that any new business model should have the opportunity to prove itself without interference in the form of rules, regulation or legislation that is intended to restrict competition. Many companies, in an attempt to mirror the success of online insurance companies, stock brokerages and mortgage companies, have tried to implement business models that take the real estate agent out of the equation. So far, no one has been successful-despite millions of venture capital that has been invested. It seems the role of an agent is safe for the time being.

"Those who continue to resist change, though, will only damage the industry as a whole. While it's true that the real estate industry has grown technologically over the last five years, despite the ongoing litigation, much more can be done. If real estate brokers and agents want to avoid obsolescence, we must give consumers what they want: Full access to information and resources related to buying and selling homes, and the ability to choose how that information is accessed and acted upon.

"We believe NAR can do more to encourage innovation, competition and an improved consumer experience. Thousands of RRealtors® have embraced ‘non-traditional' business models like Assist-2-Sell's. Through them, NAR has the opportunity to better understand why more and more consumers are looking for alternative methods of buying and selling real estate. Perhaps this knowledge will help ensure that consumers realize the true value of Realtors®, despite further technological advancements that are sure to come our way."

LaMeres-Pomin and Martin are available for additional comments. Assist-2-Sell also has franchise offices throughout the United States that can be made available to the media. The owners of these offices can talk about the impact this settlement will have at a local and/or regional level. Simply e-mail Assist-2-Sell Media Relations at ecampbell@assist2sell.com or call (760) 494-5979.

About Assist-2-Sell Inc.
Based in Reno, Nev., Assist-2-Sell was founded by Mary LaMeres-Pomin and Lyle Martin in 1987. Their full-service discount business model caught on with consumers who were tired of paying high commissions. Today, there are more than 500 Assist-2-Sell offices throughout the United States and Canada. These offices provide home sellers with full brokerage services for a low, flat fee, saving consumers nationwide more than $800 million in commission.* Home buyers also have access to a full range of services, including Assist-2-Sell's exclusive listings databases. All brokers and agents are fully licensed and Realtors®. Your local office on the Net: http://www.WeSellCentralNJ.com/.

*Savings based on statistics since January 1, 2000, for all Assist-2-Sell® offices in North America, compared to paying six percent commission. Six percent used for comparison purposes only. Commissions may be negotiable and are not fixed by law.

For many real estate professionals, the national housing downturn has meant far fewer phone calls.  One Hamilton Township real estate broker used the slowdown as an opportunity to ramp up his back office systems and marketing programs.  Now his phone is ringing like never before.

Earlier this year, Michael Sinton, owner and principle broker of Assist-2-Sell Buyers & Sellers Edge, implemented several new marketing programs and back office systems. He and his team are now enhancing all of their listings on REALTOR.com® and posting video home tours on YouTube. They also began using a new call capture and response system, as well as a Web-based showing application, to make it easier for interested buyers to learn more about homes for sale in central New Jersey.

Assist-2-Sell is doing so well they need to bring in more buyers' agents to handle the increased workload.

"The number of home buyers calling us has increased substantially. We're receiving more than 200 ‘warm' buyer leads each month," says Michael. "I'm hoping to add a few full-time agents to my team so we can quickly respond to these incoming leads and better service our growing customer base."

Michael says that while his is a smaller office environment, it is very team-oriented and there is enough business for everyone. He purposefully limits the team to a select few professional, full-time agents so everyone is kept busy doing a higher volume.

Adds Michael, "Assist-2-Sell is a great opportunity for real estate agents who want to spend more time with buyers and sellers, and less time looking for more business. Our agents pay no desk fees or advertising expenses, and compensation is as good as or better than what other real estate companies offer."

To learn more about Assist-2-Sell, call (609) 587-4227 or e-mail msinton@assist2sell.com. Additional information is available online at http://www.wesellcentralnj.com/. Assist-2-Sell Buyers & Sellers Edge is located at 2622 Nottingham Way in Hamilton Township.

Real estate agents who are interested in joining "Team Assist-2-Sell" can send their resume to Michael at msinton@assist2sell.com.

HAMILTON, N.J. - May 21, 2008 - Local real estate broker Michael Sinton has found a way to beat the slow housing market. Since implementing several new marketing programs and back office systems earlier this year, Sinton's Assist-2-Sell® office has experienced tremendous growth. The Hamilton Assist-2-Sell office is now expanding and hiring additional buyers' agents to handle the increased workload.

To expose their listings to as many potential home buyers as possible, the Hamilton Assist-2-Sell office is enhancing all of their listings on REALTOR.com® and posting video home tours on YouTube. Assist-2-Sell is also utilizing a call capture and response system, as well as a Web-based showing application, to make it easier for interested buyers to learn more about homes for sale in central New Jersey.

"For the first time since opening, we've been able to establish a strong foothold in the local real estate market. Sellers are excited about the additional exposure we can offer their homes, and buyers are responding positively as well," says Sinton, owner and principle broker of Assist-2-Sell Buyers & Sellers Edge. "The number of home buyers calling us has increased substantially. We're receiving more than 200 ‘warm' buyer leads each month."

Assist-2-Sell is now looking to add a few additional buyers' agents to help Sinton and his team better service their growing customer base. 

Says Sinton, "Assist-2-Sell is a great opportunity for real estate agents who want to spend more time with buyers and sellers, and less time looking for more business. Our agents pay no desk fees or advertising expenses, and compensation is as good as or better than what other real estate companies offer."

To learn more about Assist-2-Sell, call (609) 587-4227 or e-mail msinton@assist2sell.com. Additional information is available online at http://www.wesellcentralnj.com/. Assist-2-Sell Buyers & Sellers Edge is located at 2622 Nottingham Way in Hamilton Township.

Michael Sinton opened Assist-2-Sell Buyers & Sellers Edge in November 2005. Assist-2-Sell, North America's Leading Discount Real Estate Company(SM), provides home sellers with full brokerage services for a low, flat fee. The Hamilton office charges a low, flat fee of $3,995 for homes up to $300,000, with moderate increases for homes that list for more. Home buyers also have access to a full range of services, including Assist-2-Sell's exclusive listings database. All brokers and agents are fully licensed and REALTORS®. Each office is individually owned and operated.

If you would like more information about Assist-2-Sell's continued growth, or to schedule an interview with Michael Sinton, please call Michael at (609) 587-4227 or e-mail him at msinton@assist2sell.com.

Foreclosure is forcing the sale of many homes in New Jersey, putting homeowners in a very stressful and challenging position.  While most people think of real estate agents as mediators between buyers and sellers, realty professionals also work with lenders, who are likewise facing challenges.

Financial giant Freddie Mac commissioned a survey, finding that 58 percent of homeowners who are delinquent in their payments didn't know that lenders offer many ways to help.  They also didn't realize that free counseling is available for those facing default.

For instance, did you know that a missed payment could be added to your loan balance?  Or that you can extend the term of your mortgage?  It will take longer to pay off, but it keeps you in your home.

That's another frequently misunderstood point.  Banks really don't want to take your home back - they want YOU to keep it and pay for its maintenance and property taxes and so on.  Banks are in the business of lending (and making) money, not in maintaining real estate.

While help offered by lenders and assistance organizations can save four out of five homes from foreclosure, the sad fact is that most homeowners simply don't find that help until it's too late.

Please, protect your investment and your community's property values by availing yourself of the assistance that's freely available.  Don't wait another moment.

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.wesellcentralnj.com/.

While some real estate markets are experiencing increasing listing times and decreasing sales, others are still doing well or even booming.  Regardless of which applies, how do you position yourself for a quick, full-price sale?  Even in slow markets, some houses sell quite quickly, and it's for the very same reasons that they would in a hot market.

The best performers these days are older homes with three bedrooms and two baths.  In addition to those features, they are priced a few thousand dollars below the area's average asking price. 

You won't consider competitive pricing a concession when offers come in more quickly and with less negotiation.  Peace of mind and a quick sale are more than worth the difference between your asking price and that of your competition.

The second common denominator among successful sales in slow markets is the fact that the properties show like model homes.  Sure, location is critical, but it's condition, condition, condition that helps to set your offering apart from other homes on the market at the same price.

The final factor these sales share?  Aggressive marketing by a real estate agent.  A professional who shows your home to an already qualified and motivated group of buyers is worth his or her weight in gold at the closing table. Combine price, condition, and marketing for a satisfying sales result!

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.wesellcentralnj.com/.

In light of declining sales and tougher loan requirements, many potential buyers are asking if they should buy now, or wait several months before moving forward with a decision.  The thing is, you can't time the real estate market any more than you can time the stock market.  Simply put, the best time to buy is simply when you need to do so.

Start searching now, targeting your preferred locations and getting a sense of the local trends.  Speak with local realty professionals to gauge listing times, list-to-sale ratios, and contract terms.  There's no such thing as a "national" market, and every area is going through its own adjustments, up or down.

Now isn't a bad time to begin your loan search as well, to determine how much home you can afford, and to start assembling the required paperwork.  If you're not pressured to move right now, securing loan pre-approval will give you the chance to immediately take advantage if an excellent purchase opportunity appears.

Owners who are pressured to sell for reasons like foreclosure or job relocation may be more willing to negotiate, but if you really love a particular home, don't lose it by haggling over a few thousand dollars.  A home is not a stock certificate.  In a buyers market, take your time, do your homework, and make the most of it.

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.wesellcentralnj.com/.

It's more difficult than ever to realistically and successfully price your home for sale.  Many economic factors affect your pricing decision.  Agents present you with the facts, but the final determination of asking price is yours and yours alone.  So contact a representative and familiarize yourself with the following criteria.

There are more homes for sale now than in the past.  Larger inventories exist mainly due to the fact that many sellers waited to list, trying to catch the top of the market.  Now they're trying to sell before it bottoms out.

While still historically low, mortgage rates are creeping up.  Every rate increase disqualifies a segment of buyers for financing, negatively impacting your selling ability.

Besides higher interest rates, buyers are subject to stricter loan application requirements.  Again, the higher downpayments and credit scores needed for financing eliminate many applicants from your pool of prospective buyers.

Are there homes in your neighborhood that investors couldn't "flip"?  Then they are either vacant or listed below market value by owners who would rather take the loss than become landlords.  Either way, these homes and foreclosed properties adversely affect property values of others in your community.

This is reality.  Expect your agent to be completely honest with you about it, and learn that trust, reason and determination will create a sale, even in a down market.

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.wesellcentralnj.com/.

It has been awhile since I last posted an entry because it has been awhile since anything progressed even one step.   The seller had been assigned a "negotiator" and was given a laundry list of items to submit to Countrywide, including tax returns, bank statements, hardship letter, comparable sales info.  Some of those items had previously been submitted to Countrywide but apparently one department does not talk to the other.  I had questions for the negotiator who is based out of Plano, Texas (remember no one goes to school to become a short sale negotiator).  After calling and leaving a message, I waited a few days, no return call back.  I know they are probably inundated so I e-mailed the questions.....wait a few more days....no e-mail....e-mailed questions again...no e-mail response.  Call seller who still does not have everything they need to submit to Countrywide.  call buyers agent...buyers getting antsy....in a nutshell this deal has been under contract since around the end of January - with the exception of getting a negotiator assigned to the property, we are no closer to closing this deal than we were 2 months ago.  I'll keep y'all posted on this deal.

I have had some people who read the blog e-mail me about their frustrations about this process.....I understand....let me tell you my frustrations:  I have been selling real estate since 1986.  I survived the horrible market in southern California in the 1990's (stay alive in '95).  Short sales were common then, too.  You would think with the advent of the internet and technology since that time, these imbicile lenders would be better prepared to deal with the situation as it presently exists in most markets in this country.  It is 1992-1996 deja vu all over again.  None of the lenders were seemingly prepared for the eventual "crisis" (by the way, fewer than 5% of mortgages are in default).  From my experience back then banks were not set up to deal with short sales.   They are better prepared to deal with foreclosed or Real Estate Owned (REO) properties.  Big difference.

If you are a buyer reading this and want to get involved in a short sale, my advice is if you find a property you like, wait for it to actually become foreclosed on (REO).  This way you avoid the short sale process, its a much cleaner deal because at that point, you get clear title and the bank has already eaten the loan and any back taxes and they (the bank) OWN the property instead of a short sale where the bank DOES NOT own the property but is calling the shots.  There are ways to track the property throughout the foreclosure process (in California you have a 90 day notice of default (NOD) and a 21 day notice of Trustee Sale). Plus you can likely get a better deal after the bank owns the property. Plus you know what the house looks like and the condition since the former owners would be gone at that point, having been foreclosed on and possibly evicted.  Another important point to ponder, since most short sales the sellers are walking away with zero cash and their credit gets screwed anyway, what is their motivation to go through all the hoops and bells they are being asked to go through in order to cooperate with a short sale?  Since in most cases they are probably not making payments, its in their interest to drag out the process and live payment free in the house as long as possible. Also make sure your agent can explain the nuts and bolts pros and cons of a short sale and is not just looking for a sale.  Most agents don't know what they need to know to advice their clients about the risks of a short sale if they have been in the real estate business less than 10 years.

Other points I want to make and for the buying public to consider: From a buyers perspective, I could see absolutely no benefit to playing the waiting game hoping to close a short sale.  If you wait, you risk losing other opportunities or perhaps interest rates going up.  You also don't know what the house will look like (assuming you are able to close a short sale) at the end of a short sale since its not a happy move for the seller.  Let me put in more bluntly:  I have sold real estate 21 years.  I have sold hundreds of properties over the years. I have bought plenty of real estate for myself.  I know the ins and outs.  I know the game.  I worked REO's in the 1990's with Freddie Mac, GE Capital, and others.... If I was looking to purchase a property I would NEVER get involved in the purchase of a short sale, and that is given my level of experience!  Its dirty real estate.  Each lender is different and the frustration level may vary depending on the lender involved.  Best advice is:  Find a seller with equity who is motivated to sell.  That is the key to getting deals in this market.  I don't recommend lease options or assume existing seller loans...stay away from those "creative" approaches....big time risks....those topics will be for another blog.

Today, Texans are voting in record numbers.  For the first time in a long time, Texans are looking at a presidential primary where our vote will actually count.  While this has little to do with Dallas home sellers and even home buyers in Dallas, it has everything to do with Dallas residents as a whole.  Barack Obama and Hillary Clinton are fighting for every single Texan's vote in order to earn the Democrat nomination for President in November.  Obama has been riding a wave of positive media attention throughout an impressive eleven state winning streak while Clinton has been retooling and restating her clear message that she is the only candidate who will be ready on day one. 

Rush Limbaugh has advised conservative voters to cast their primary vote for Hillary Clinton in order to keep the Democrat race close and heated all the way to the National Convention.  If this were successful, Super Delegates would become the topic of choice for media and voters. 

John McCain, while receiving very little media coverage relative to the Democrat candidates, has continued to campaign as the Republican nominee even though he still needs delegates from today's races to shore that nomination up. 

No one expects Mike Huckabee to drop out of the race, but then again he can not possibly win.  He might however pass Mitt Romney in the delegate count to achieve a respectable second place finish.  This will benefit him in four or eight years when he is likely to run again. 

As for Mitt Romney, rumors speculate about his Vice Presidential chances and his future presidential aspirations as well.

Ron Paul, being from Texas, is still involved.  He has zero chance of winning the nomination as well and in recent weeks with less attention being given to the Republican race, has had little to do in the way of moving the debate towards smaller government and less regulation as he had been earlier in the race. 

I just voted and it took about 9 minutes.  It was a great experience and I feel very American.  You should too. 

VOTE,

its your choice,

but VOTE!

The main aspect guiding your planning will be whether you're moving a long distance or just locally.  Either way, begin hoarding boxes, packing tape, moving blankets, packing peanuts - and big black markers to indicate contents and locations on every single box.

In many cases, you'll want to consider a professional mover, and your listing agent can make some excellent recommendations.  However, be sure your choice is licensed and bonded, and that their employees have workman's comp insurance.  Always get an estimate in writing, from more than one company, and inquire about their equipment, training and experience.  References should always be available upon request.

Well in advance of The Big Day, hold a moving sale to reduce the amount you have to pay for your move.  Items that don't sell can often be donated to charitable organizations, or taken to the landfill as a last resort.

When you're finally "outta there," make sure you've brought enough cash for your travel, your medications and supplements, and your children's favorite toys, games and entertainment.  It could be a few days before you have access to your belongings, so plan ahead and be prepared!

For more information, contact Michael Sinton, Broker/Owner, Assist-2-Sell Buyers & Sellers Edge, America's leading discount real estate company, directly at 609-587-4227, via email at MSinton@Assist2Sell.com or on the web at http://www.wesellcentralnj.com/.

Bob is a smart guy.  He works hard, loves his family and needs a bigger house.  His wife is pregnant with their third child and the three bedroom home they have in Dallas, TX is simply too small for their growing family.  Bob actually spends five minutes thinking about how he would like to solve his problem.

Bob's analysis of his real estate situation works something like this:

1. We have more people than we have bedrooms
2. We need more bedrooms
3. We need a new house
4. We will need to sell our house in order to buy a bigger one
5. We can't sell it ourselves since we don't know much about it
6. We don't want to pay too much for someone to assist us
7. We will use Assist-2-Sell Real Estate Company to sell our house for a flat fee
8. We will save thousands of dollars compared to a traditional six or seven percent commission broker
9. We will use the savings to pay for our move and help us buy the bigger house
10. We will also use Assist-2-Sell Real Estate Company to buy our bigger house since they don't charge anything to help buyers.

BOB TAKES STEP#1 OF THE ONE STEP SMART BUYING PROCESS:

Bob calls Assist-2-Sell Buyers & Sellers Realty in Dallas, Texas.

Bob schedules an appointment to meet with one of their REALTORS for that afternoon.  A very nice agent shows up on time to Bob's house and answeres all of Bob's questions.  Thirty days later, Bob has a great offer and accepts.  The Assist-2-Sell agent handled everything.  Bob is so happy that he tells all of his friends and family.

Bob has a neighbor.  His neighbor's name is Jim and Jim's wife is also pregnant with a third child and their three bedroom home is getting too small as well.  Honestly, Bob's neighbor Jim is not as smart as Bob.  Jim makes some of the same decisions as Bob, like selling and buying a new home.  But,as you probably expected, Jim doesn't take Bob's advice and he uses an agent from Kel-Max 24 Realty who has a really great glamour shot on her business card.  He ends up selling his house in thirty days as well, but he also ends up paying almost twice as much commission to his REALTOR as Bob paid to his Assist-2-Sell agent for the same exact service.  Jim won't be able to buy a bigger house in the same neighborhood as Bob this time. 

The moral of Bob and Jim's story is that Assist-2-Sell is America's Leading Discount Real Estate Company.  We are a volume based, full service, technilogically advanced real estate company with highly trained, highly educated and very friendly full time professional agents.  We charge less to home sellers in order to generate more business and create life long relationships with our happy sellers and buyers.  We are still in business to make money, and we do it by assisting more and more home sellers and home buyers every year.  We make up for our fantastically low fees by assisting so many more people.  Contact us to find out more.  www.4DallasHomes.com

Lake Highlands House Sells in 35 Minutes With Assist-2-Sell

Homeowner Saves Nearly $9,000 in Real Estate Commissions

DALLAS - Feb. 21, 2008 - Thirty five minutes. That's how long it took for a house in the Lake Highlands area of Dallas to sell last week at full price. The secret? Assist-2-Sell's "Direct-to-Buyers" ^SM marketing program.

"No, I'm not reminiscing about the real estate boom. This happened just last week," assures Todd Tramonte, owner and broker of Assist-2-Sell Buyers & Sellers Realty of Dallas. "Once the seller said, ‘show it,' we had a contract signed by one of our own buyers within 35 minutes for a net full price offer."

By working with Assist-2-Sell, instead of a "traditionally-priced" broker, the seller saved nearly $9,000 in real estate commissions, compared to paying six percent. Todd's office charges $2,995 for houses up to $200,000, with moderate increases for houses that list for more.

Explains Todd, "The only difference between Assist-2-Sell and ‘traditional' real estate companies is our compensation structure. We charge a low, flat fee instead of a commission that is a percentage of a house's sale price. That can add up to significant savings."

As a full-service real estate brokerage, Assist-2-Sell's experienced brokers and agents handle everything throughout the entire process of selling a house. That includes pricing the house; advertising and marketing online and offline; showing the house to prospective buyers; working with other local brokers and agents; and managing all of the paperwork and the closing.

"We were able to sell the house so quickly because we deal with so many buyers and sellers. Due to our volume and our team approach, we were able to match the best buyer with the best seller," says Todd. "We really do put people first. Our low commissions allow sellers to be more flexible and enable buyers to get better deals."

Todd Tramonte opened Assist-2-Sell Buyers & Sellers Realty in Dallas in February 2006. Assist-2-Sell, North America's Leading Discount Real Estate Company^SM, provides home sellers with full brokerage services for a low, flat fee, saving consumers more than $800 million in commission.[1] Homebuyers also have access to a full range of services, including Assist-2-Sell's exclusive listings databases. All brokers and agents are fully licensed and REALTORS®. On the Net: http://www.4dallashomes.com/.     

Written by: Erin Campbell - Assist-2-Sell PR Genius

[1] Savings based on statistics since January 1, 2000, for all Assist-2-Sell offices in North America compared to paying six percent commission. Six percent used for comparison purposes only. Commissions may be negotiable and are not fixed by law.

Some soldiers in Iraq and Afghanistan had a happier holiday thanks to the local Assist-2-Sell office.  Doug Howell, Diana Hacker and Jean Howell, owners of Assist-2-Sell Buyer Seller Team, asked O'Fallon residents to support American troops by helping to create holiday care packages. More than 100 households responded by donating hundreds of items, including snacks, toiletries, games, music CDs, movie DVDs and more. The care packages were sent to soldiers in Iraq and Afghanistan in time for Christmas.

"We wanted do something to say ‘thank you' to the men and women who are serving our country, and the holidays seemed like a good time to let them know we were thinking about them," said Doug Howell.

Added Diana Hacker, "We were really happy to see so many people from our community come together to show their support for our troops."

If you would like to join Assist-2-Sell and show your support for American troops, visit www.anysoldier.com. This Web site is an easy way to send care packages to soldiers who are overseas.

Assist-2-Sell Buyer Seller Team is owned and operated by Doug Howell, Diana Hacker and Jean Howell. They opened the O'Fallon, Mo., office in July 2002. Assist-2-Sell, North America's Leading Discount Real Estate Company^SM, provides home sellers with full brokerage services for a low, flat fee, saving consumers more than $800 million in commission.[1] Homebuyers also have access to a full range of services, including Assist-2-Sell's exclusive listings databases. All brokers and agents are fully licensed and REALTORS®. On the Net: www.buyersellerteam.com.

[1] Savings based on statistics since January 1, 2000, for all Assist-2-Sell offices in North America compared to paying six percent commission. Six percent used for comparison purposes only. Commissions may be negotiable and are not fixed by law.

Every day there's a new article or TV segment about the housing market with a comment from one or more local real estate professionals.  I'm so happy to see more and more quotes from Assist-2-Sell owners/brokers.  If you've worked with me at all, you know I think this is a great opportunity to build a reputation as a local expert.  Most people who read these articles don't know how they came about.  They don't know anything about the behind-the-scenes PR efforts that most likely landed you the interview.  They don't know anything about the credentials of the people being quoted.  In fact, I've spoken to "average" consumers who read these articles and assume the broker or agents must be the best in their respective area of expertise.  Do you see how this could be a great opportunity to be portrayed as an expert in your community?

I just want to remind you to stay positive when you talk to reporters.  I know many of you are experiencing very difficult markets, but try to help the reporters see the bright side.  I'm not suggesting you have a "Pollyanna" attitude but you should always remain optimistic.  The last thing you want is to be portrayed as negative with a "sky is falling" attitude.  Is that the type of person homebuyers and sellers will turn to?  I wouldn't. 

Here are just a few examples of how you can put a positive spin on a potentially negative story:

• This really is a great time for many people to buy a home.  Explain why. 
• Fortunately, there are programs like Assist-2-Sell's that allow home sellers to hold onto more of their home's equity without forcing them to sacrifice any of the service or support they need.  You don't have to pay a high real estate commission to sell your home.
• Real estate is cyclical.  We have seen this kind of decline -- and this kind of intense media scrutiny -- in the past.  If you are already seeing improvements -- even if they're minor -- point them out. 
• If a homeowner is in trouble with their mortgage, there are options and they should seek out the counsel of their bank or a REALTOR as soon as possible.  Assist-2-Sell brokers and agents have the knowledge and expertise to help homeowners decide what to do.
• Point out the long term benefits of homeownership that remain despite the decline.

Remember, you're the expert.  People turn to the experts because they need someone to help them understand what's going on.  Is it really as bad as it looks?  If it is, they'll need someone to help pull them through.  If it's not, they'll need someone to show them the hidden opportunities.  

If you have an opportunity to talk to the media and want some guidance, feel free to e-mail me at ecampbell@assist2sell.com.

By now you know that I think blogs are an important way for real estate pros to promote themselves with would-be homebuyers and sellers.  You can find a lot of tips in the PR section of A2S Talk but I wanted to share a blog posting from RSS Pieces.  This real estate blog knows that one of the biggest challenges is finding something to write about.  Not anymore!  They've taken care of it for you with "A Years Worth of Real Estate Blog Ideas."  (The link takes you to the bottom of the page, so scroll up to the top of the screen.)  The great thing about these ideas is that RSS Pieces gives real-world examples so you know what they're talking about.  Here are just a few ideas:

• Cover a high dollar home sale in your area
• Give 10 tips for getting more money on the sale of a home
• Explain local market conditions using data from the MLS
• Review restaurants and other local things to do
• Guide consumers through specific elements of the home buying or selling process (like closings, open houses, staging, etc.)
• Dispel rumors spread by the media, your competitors, TV, etc.
• Find relevant videos on YouTube and embed them on your blog
• Offer tips for choosing a REALTOR
• Take a hot topic (like the subprime mortgage market) and offer your opinion
• There are many more ideas at http://www.rsspieces.com/a-yearrs-worth-of-real-estate-blog-ideas

No more excuses for not getting started today!

We're already a month into the New Year.  Why not use the rest of '08 to build your online presence and position yourself as a local real estate expert?

Elisa Mullins, owner/broker of Assist-2-Sell Premier Realty in Brentwood, Mo., was recently interviewed for an article about buying a home in today's market.

February 1, 2008
San Jose Mercury News
Cover - Mortgage math for today's market
Pinpoint the right type of loan for you
By Charles Scutt Content That Works Features

Thinking about buying a new home but suffering from pre-borrowing anxiety? Despite the subprime mortgage meltdown, tighter lending restrictions and widening foreclosure fears, the American dream of home ownership still is attainable so long as you know what to expect in the current mortgage loan climate.

The good news, according to Michael LaCour-Little, a finance professor at California State University-Fullerton, is that most borrowers those with good credit and some down payment or significant housing equity should not have difficulty obtaining financing today. It's the no-money-down loans to borrowers with weak credit that will be very hard to come by.

Elisa Mullins, a broker and owner of Assist-2-Sell Premier Realty in St. Louis, Mo., says that the average borrower can weather the current financing storm, especially if she or he has good credit, which typically equates to a credit score of 680 or higher.

They have the opportunity to be in the driver's seat and take a proactive approach toward their future to include buying into the American dream, Mullins says. The credit-worthiness of the borrower will secure favorable financing in today s market. That will open the buyer to a lot of different mortgage products that are not available to credit-risky borrowers.

Nevertheless, today's borrowers will have to prove that they can repay a loan without any problems, says Gavin Susman, COO of Sky Development, Inc. in Florida. They will have to abide by Fannie Mae s guidelines for debt-to-income ratios utilizing documented income. Gone are the days where you could get away with providing a letter from your employer stating how much you make.

Instead, you'll need to provide pay stubs with W-2 forms or tax returns, Susman says. If your income is not documented and you have bad credit, you will not be able to secure any mortgage unless you are financing no more than 70 percent of the value of the property, he says. Even then, you may have a hard time getting the loan.

Additionally, you can anticipate having to pay higher interest rates nowadays if you seek a non-conforming loan one exceeding $417,000 says LaCour-Little.

What's more, says Mullins, you should expect to have around 5 to 10 percent of the purchase price saved. If you cannot get the seller to credit the pre-paids and closing costs, then you will need to have an adequate down payment, the amount of which is contingent on your creditworthiness.

With lenders adding more restrictions, be prepared to pay more in borrowing fees as well, says Mullins. With fewer lenders out there today than in years past, it makes it more competitive among lenders. The fees will go up naturally as a result.

On a side note, while there may be fewer lenders, greater loan availability may be on the horizon, says LaCour-Little, thanks to the recent Federal Reserve cut in interest rates. However, even though the rate cut is likely to produce greater liquidity in the mortgage market, the rate cut itself is not likely to reduce most mortgage rates, since they tend to be tied to longer-term rates rather than the federal funds rate that the Federal Reserve controls, he says.

When mulling over your mortgage-loan options, it's important to scrutinize several key criteria, says Scott Christiansen, a senior mortgage professional with WestCal Mortgage Corp. in Southern California.

Consider your income today vs. income in the future, he says. Look at potential tax breaks, and spread out your investments the amount of money you put into your home vs. other investment vehicles. Work with a mortgage professional who comes recommended and whom you trust. Lastly, do your homework and take action. Times change, and so do financing programs, so what is available this week may not be next week.

Doing your homework inevitably involves checking your credit score and analyzing your credit report carefully, says LaCour-Little. If you do identify any problems, try to resolve them before applying for a loan.

Though they've gotten a lot of bad press lately, don t be too quick to dismiss adjustable-rate mortgage options, says Christiansen.

ARMs are still a great option for the informed borrower, he says. ARMs are designed to fit a borrower s time line and payment range. If you re going to live in a home for three to five years, look at a five- to seven-year ARM. If you plan on living in a home for 20 years, and you elect to go with a five- or seven-year ARM, then you run the risk of the rate being higher at the adjustment period. Many lenders and borrowers went about the last few years as if the housing market could do nothing but grow. There are always adjustments, corrections and changes, and all should be considered when selecting the best mortgage-financing solution.

If you get turned down by a lender, don't despair, says Mullins.

This is a sign of the times a good sign, she says. Lenders are finally putting in some safeguards to help buyers recognize when they should not be buying. Get the tools you need to clean up your credit and other personal situations before you decide to take on any debt you can t afford.

LaCour-Little says that approximately 20 to 30 percent of mortgage-loan applications are declined each year. It s not the end of the world, he says. Different lenders have different underwriting guidelines, so you may simply need to apply to another lender.

Ultimately, remember that banks make money lending money, says Christiansen. The days of a real estate investor coming in without a job, with terrible credit and almost no money in the bank and buying homes and apartments may very well be over. But smart money is still available to smart borrowers.

Assist-2-Sell Buyers & Sellers Edge Announces Top Producers for 2007

In 2007, Assist-2-Sell agent Allan E. Brown listed thirty-nine homes. Allan has been with the company for almost two years. Allan brings a variety of talents and expertise to the business. Allan's talents are unique to the real estate market. One of his specialties is to provide sellers with a DVD video of their listed property. This excites sellers and allows the video to be seen on multiple websites including Realtor.com, Homes.com, You-Tube, etc... Additionally, he achieved the NJAR Circle of Excellence award for 2007.

Robert Blackburn, who has been with Assist-2-Sell® for two years, sold sixteen homes and is also an NJAR Circle of Excellence award recipient for 2007. As a former military officer, Robert brings discipline and structure to the real estate environment. Robert enjoys working with buyers, successfully fulfilling their housing wishes and needs. His success has been documented with letters of testimony from very satisfied buyers.

About Assist-2-Sell Buyers & Sellers Edge
Based in Hamilton, NJ, Assist-2-Sell Buyers & Sellers Edge was opened by Michael J. Sinton in September 2005. As "North America's Leading Discount Real Estate CompanySM," Assist-2-Sell® provides home sellers with full brokerage services for a low flat fee, saving consumers nationwide more than $800 million in commission.[1] The company also offers a full range of services to homebuyers, including access to millions of listings through Assist-2-Sell's unique databases. Sinton and his agents are fully licensed and members of the National Association of Realtors®. For five straight years Entrepreneur Magazine has recognized Assist-2-Sell as one of the leading franchises and Assist-2-Sell Buyers & Sellers Edge has been honored as Assist-2-Sell's Top Ten Percent for October of 2007. Assist-2-Sell Buyers & Sellers Edge is individually owned and operated. On the Net: www.WeSellCentralNJ.com.

###

Some families had a happier holiday thanks to a Dallas real estate brokerage.  Assist-2-Sell Buyers & Sellers Realty donated 25 turkeys and 25 hams over the Thanksgiving and Christmas holidays.  The families who received the holiday meals were selected by the teachers and faculty at Skyview Elementary

"This was our second year donating turkeys and hams to Skyview Elementary, and we're so happy to have helped 50 families celebrate the holidays," said Tramonte.

If you would like to join Assist-2-Sell and help local families in need, their team participates in fundraising for Young Life ministries, community service through Watermark Community Church, and blood drives, in addition to multiple initiatives with local elementary schools.  

Assist-2-Sell Buyers & Sellers Realty is owned and operated by Todd Tramonte. He opened the Dallas office in February 2006. Assist-2-Sell, North America's Leading Discount Real Estate Company^SM, provides home sellers with full brokerage services for a low, flat fee, saving consumers more than $800 million in commission.[1] Homebuyers also have access to a full range of services, including Assist-2-Sell's exclusive listings databases. All brokers and agents are fully licensed and REALTORS®. On the Net: http://www.4dallashomes.com/.    

[1] Savings based on statistics since January 1, 2000, for all Assist-2-Sell offices in North America compared to paying six percent commission. Six percent used for comparison purposes only. Commissions may be negotiable and are not fixed by law.

Last Sunday, KUSA 9 News did a story about how Denver-area real estate brokers responded to warm weather and positive financial news (like the recent Fed Rate rate cuts and economic stimulus package) by hosting open houses all over town.  They interviewed Todd Barker, owner of Assist-2-Sell Home Buyers & Sellers Realty in Denver, about why would-be homebuyers were coming out for these open houses.

Watch "Warm weather, financial news, increase open house activity."

January 28, 2008
WFMZ-TV 69 News
New Home Sales Drop Record Amount

Dale Sadler, owner/broker of top producing Assist-2-Sell offices in Bath, Allentown and Easton, Pa., was interviewed for a recent segment about how the housing downturn is affecting Leigh Valley, Pa.  Watch the segment online or read the transcript below.

New home sales fell by a record amount last year. That's the word from a new Commerce Department report. The report underscores the difficulty of the housing downturn. But are the problems as pronounced in the Lehigh Valley? WFMZ's Mike Lowe reports.

So what does it all mean for the Lehigh Valley? Is it a good time to buy or sell a home here? We spoke with local real estate experts to get a sense of market. >> Sign, sign ... everywhere a sign. For sale signs dot the national landscape ... but the homes aren't selling. Last year sales of new homes fell 26% nationwide -- the steepest decline on record. >> But local real estate experts say the bad times have not blown into the Valley. >> Sadler: "If I know anything about real estate, it's that real estate is local." >> Assist-2-Sell broker Dale Sadler says the Lehigh Valley remains a strong market. >> Sadler: "We have good value in the Lehigh Valley. We have not seen the wild appreciation in the Lehigh Valley, that makes it more reasonable." >> McElwain: "The Lehigh Valley is somewhat insulated because we have a pretty good growth industry." >> Kevin McElwain is the president of Allentown Mortgage Corporation. He says because the Federal Reserve lowered interest rates last week, it's cheaper to borrow money to buy a home. >> "To buy today versus buying a year from now, when I don't know the what the rates are a year from now ... this is the perfect opportunity." >> But a national decline in home values is a troubling trend. The National Association of Realtors says the median price of a home in December 2007 was down 10 percent from the previous year. And Merrill Lynch analysts say that home prices could decline another 25% by 2009. Allentown-based Financial advisor Jack Robinson says it's best to wait it out. >> Robinson: "If I were moving into the Lehigh Valley and I were a young couple, my suggestion would be don't rush into the housing market." >> But, even the numbers cast doubt on the short term market, McElwain says the Valley has a strong future. >> "The long-term forecast is fine." >> One point everyone we spoke with made is that in the wake of the sub-prime crisis, lenders will be doing much more thorough checks on potential home buyers.