Strategic Home Marketing & Money Saving Real Estate Negotiation by AMBER NOBLE-GARLAND, CDPE: New Jersey: Manalapan

MarketWatch has reported that resales of U.S. single-family homes and condos rose 3.6% in June to a seasonally adjusted annual rate of 4.89 million, the highest level since last October, the National Association of Realtors reported Thursday. Resales have risen for three straight months.

The housing market appears to be healing, said Lawrence Yun, the NAR chief economist. The increase was higher than expected. 

Inventories of unsold homes are still elevated and putting pressure on prices. The inventory of unsold homes on the market fell to a 9.4 month supply at the June sales pace, down from 9.8 months in May. Yun said that inventories would have to be at a 7 month supply to get price stabilization.

The median sales prices fell 15.4% in the past year to $181,800. Resale activity is concentrated in lower-priced home as a result of tax incentives, analysts said. Distressed properties (meaning short sales, foreclosures and bank owned properties) accounted for 31% of sales in June. 

Another important thing to note is that in New Jersey, the number of home sales in the month of June 2009 increased by a whopping 12% more than the number of home sales for June 2008.  In addition, there is now a nine-month inventory of homes for sale in NJ; that number was 16.9 months in January. That is an astounding 41% improvement in the amount of homes just sitting on the market that were unsold!

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Looking to BUY or SELL a NJ home in Marlboro, Manalapan, Freehold, Old Bridge, South Amboy or any of the surrounding areas? 

Are YOU interested in relocating to central NJ from Hoboken, Jersey City, Edgewater, Staten Island, Brooklyn, Queens or Manhattan? 

Find out what a home is REALLY worth first before you BUY or SELL! 

Call me directly at 917-723-5645 or email me here.

For additional real estate listings in Monmouth, Middlesex, Ocean counties & beyond, visit my site at www.AmberLovesRealEstate.com.

AMBER NOBLE-GARLAND, CDPE

Strategic Marketing & Sales Expert

Short Sale Specialist 

Weichert Realtors
455 Route 9 South
Manalapan, NJ 07726
917-723-5645 - cell
732-536-4400, ext 199 - office

"Your Reliable Resource For NJ Short Sales, Real Estate Listings, Local Info & More"

SHORT SALES 101:  The Five "P's" Everyone Needs To Practice When Dealing With Short Sales

"RUMOR vs. REALITY CHECK"

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Real Solutions To Help NJ Homeowners Avoid Foreclosure

(May 2009 edition) 

1. PREPARE:  Make sure you mentally and emotionally PREPARE yourself for the level of transparency that will be required in order to complete a short sale.  This means ultimately you'll be required to share details with your Realtor, your attorney, your CPA and the bank about why you are unable to pay your mortgage. Depending upon your specific circumstances this could include job loss, medical problems or any number of issues. You have NOTHING to be ashamed about!

2. PLAN OF ACTION: As a Realtor who is experienced with short sales in NJ, I can tell you that proper PLANNING is a huge part of successfully executing a short sale. The Realtor you choose to handle your short sale listing needs to have a real MARKETING PLAN to get your home exposed to buyers, as well as a real STRATEGIC PLAN to effectively deal with your mortgage lender/bank. If you are a seller who is experiencing financial trouble, and are considering listing your home with a Realtor as a short sale, please do yourself a favor..research the Realtor before you choose one.

3. PERFECT HONESTY: The only way your short sale Realtor can help you is if you are PERFECTLY HONEST with them about the obvious things about your financial status, as well as the not-so obvious. If you know of additional liens that are currently levied against your home, it's very important that tell your agent in the very beginning.

4. PATIENCE: Short sales typically take a bit longer than most traditional home sales. In order for the buyer, seller and the agents to get what they all ultimately desire (a closed transaction), everyone is going to have to commit upfront to remain PATIENT during the process.

5. POSITIVE ATTITUDE: In addition to being PATIENT, everyone involved in a short sale transaction needs to keep a POSITIVE ATTITUDE. This means the seller of the short sale home and their Realtor needs to support each other as they navigate through this tough process. The buyer's agent needs to regularly check-in on the short sale buyer to make sure they keep a POSITIVE ATTITUDE while everyone waits for the bank to render a decision about approving the short sale. Being pesimistic and negative will only get you frustrated. Keep a POSITIVE ATTITUDE throughout the short sale process, and you will likely wind up with a positive outcome!

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Looking to SELL or BUY a NJ home in Marlboro, Manalapan, Freehold or any of the surrounding areas?

• Find out what a home is REALLY worth first before you BUY or SELL!
• Call me directly at 917-723-5645 or email me here.
• For additional Marlboro, NJ short sale optionsand other real estate listings in Monmouth, Middlesex, Ocean counties & beyond, visit my site at www.AmberLovesRealEstate.com.

AMBER NOBLE-GARLAND

Strategic Marketing Expert & Short Sale Specialist 
Weichert Realtors (Marlboro ~ Manalapan office)
455 Route 9 South
Manalapan, NJ 07726
917-723-5645 - cell
732-536-4400, ext 199 - office

"Your Reliable Resource For NJ Short Sales, Real Estate Listings, Local Info & More"  

SHORT SALE 101: 

"RUMOR vs. REALITY CHECK"

=

Solutions To Help NJ Homeowners Avoid Foreclosure

(March 2009 edition) 

RUMOR:  Let's say a financially distressed homeowner owes a mortgage lender/bank a certain amount of money for a mortgage note, and the bank agrees to allow a SHORT SALE. This means the seller should purposely list their home at a high price since the bank will accept an offer from a buyer for 10%-20% less than what the sellers actually owe the bank, right?

REALITY CHECK:  NO. This is NOT necessarily true! Many lenders understand the general public has "caught wind" to what a SHORT SALE home actually is, and because of that, the rules of engagement are changing. Every mortgage lender is different and is governed by various rules when it comes to what price is acceptable vs. unacceptable. Now don't get me wrong; often times mortgage lenders are willing to "bend" a bit and accept a less than attractive offer from a buyer for a SHORT SALE home.  However, I have had lenders tell me directly "we will let certain homes go to FORECLOSURE before we will just give it away for almost no money in a SHORT SALE." 

They didn't make that statement based on principle, but rather on mathematics.  If a home is listed on the market for sale, and it doesn't yield contract offers high enough to cover the mortgage + the fees to sell the home + any delinquent utilities + delinquent home owners association fees (if applicable), the lender may feel it could be less costly to allow it to be FORECLOSED on. Lenders are often willing to negotiate when it comes to what "sale price" they eventually accept for a SHORT SALE, but a 10%-20% discount to a potential buyer is often NOT accurate when the SHORT SALE home is: #1 priced appropriately for the current market and #2 the home shows well.

SOLUTION = If you're a homeowner who is financially challenged and it seems like you can't figure things out on your own, make sure you speak to your mortgage lender immediately. Be honest with them about your circumstances, and ask them for all possible solutions to help improve your situation.  If they don't offer you any favorable options, then ask them about their specific steps to get you consideration for a SHORT SALE.

After doing your research with them, interview and select a Realtor who understands how the SHORT SALE process works. Be certain the Realtor is upfront with you about where the current prices of homes comparable to yours are. This way you will have realistic expectations about what to expect, and you can price your home appropriately based on current market conditions.  By following these suggestions, you'll be one step closer to attracting a buyer that will write a contract to purchase your home, and even closer to getting your mortgage lender to say SHORT SALE APPROVED!

Here's last month's edition (February) of Short Sales 101:  Rumor vs. Reality Check

Look at this GREAT 3-bedroom + 2.5 bath "BANK APPROVED SHORT SALE" townhouse for sale in Marlboro Township's Point de Jardin community

Luxury homes like this in Manalapan can also offer short sale opportunities

Information courtesy of:

AMBER NOBLE-GARLAND

Short Sale Specialist 
Weichert Realtors (Marlboro ~ Manalapan office)
455 Route 9 South
Manalapan, NJ 07726
917-723-5645 - cell
732-536-4400, ext 199 - office

www.AmberLovesRealEstate.com

"Your Reliable Resource For NJ Real Estate, Local Info & More"   

A few days ago I met a real estate appraiser named Rosalyn at one of the Monmouth County NJ homes I have listed. Within less than 2 months of being on the market, this home had 3 offers to purchase and was now under contract...Yay! 

Rosalyn the appraiser was very focused on what she needed to observe as it pertains to the home. Once she was finished, she was willing to indulge my curiosity as whether or not the changing real estate market has affected the appraisal process.

Being the sponge that I am, I looked at this as a great opportunity to "pick her brain" and ask a few questions that might be helpful to my clients. I chose the 5 questions below, because they often lead to spirited debates between myself and other Realtors, as well as first-time buyers or home owners who are in the process of selling.

Thanks to Rosalyn for sharing her expertise!

1.  The square footage of a home also includes the total square footage of the basement.

FALSE:  According to Rosalyn, a home's true square footage only includes the actual living space. If an area is a below grade basement (meaning underground and not a walkout), then that basement is NOT considered actual living space, and should NOT be calculated as part of a home's square footage.  She said in NJ and in many states it is acceptable to measure the actual square footage of the basement and note that separately as additional square footage but NOT as living space.

2.  A home's appraisal value should be equal to or greater than the home's tax records assessed value.

FALSE: Although many cities and towns across America are reconfiguring their tax rate calculation formulas to reflect current real estate market values, there are thousands of cities who have not. Therefore, you cannot always expect a home's appraised value to be equal to or exceed the "tax assessment value."

3. If you're selling your home, you are entitled to receive a copy of the appraisal the buyer's mortgage lender ordered.

FALSE:  Neither the buyer or their mortgage lender are required to share the appraisal information with you. The appraiser is not allowed to share their evaluation results with you either.

4. If you give your home an extra good cleaning and de-clutter, your home will appraise for more money.

FALSE:  According to Rosalyn, appraisers do not base their evaluations on how "neat & tidy" your home is. The things that will likely have the greatest impact on what they assess your home's value at will be size, condition, upgrades, location, view (ocean, beach, etc) closeness to amenities (pool, golf course, etc) and/or facilities (bus, ferry, train, etc) and recent sales of comparable homes.

5. If you add certain upgrades to your home you will get a dollar-for-dollar return on your investment when you sell the home.

FALSE: Many appraisers will agree that updating things like a kitchen or bathroom or finishing a basement can definitely be a positive step toward increasing a home's value. However, despite how wonderful the upgrades may be they won't necessarily increase the value of your home to the extent where you'll get a 100% percent return on the money you spent. Here's a great article from the NAR (National Association of Realtors) that explains "cost vs. value" in greater detail.

Information courtesy of:

AMBER NOBLE-GARLAND

Waterfront Homes Expert & Short Sale Specialist 
Weichert, Realtors

455 Route 9 South
Manalapan, NJ 07726
917-723-5645 - cell
732-536-4400, ext 199 - office

www.AmberLovesRealEstate.com

"Your Reliable Resource For NJ Real Estate, Local Info & More"  

WOULD YOU LIKE TO REDUCE YOUR AUTO INSURANCE? 

DO YOU HAVE 2 NAGGING POINTS YOU'D LIKE TO HAVE REMOVED FROM YOUR DRIVING RECORD?

Well read below, because you may possibly be in luck!

NATIONAL SAFETY COUNCIL

"DEFENSIVE DRIVING COURSE"

Sponsored by Manalapan Venture Crew 120

This class is taught by certified instructors of the

NATIONAL SAFETY COUNCIL

SATURDAY, MARCH 14, 2009

9:00am-4:00pm

MANALAPAN TOWNSHIP MUNICIPAL BUILDING

Route 522 & Taylors Mills Rd.

The cost of $30 per person includes lunch, certifications and materials. An additional $15 will be charged for those New Jersey State residents who want to be considered for insurance discounts up to 10% and/or a possible reduction of up to 2 points off your motor vehicle drivers license. 

NOTE:  Keep in mind that any discount off your automobile insurance is subject to approval by your insurance carrier - some restrictions may apply.

The purpose of this course is to teach you to drive defensively. This 6 hour course includes a discussion of the behaviors that influence driving habits, as well as vehicle characteristics, the National Safety Council's "Collision Prevention Formula" the effects of drugs and alcohol on driving, and anticipating potential hazards. In fact, a similar event was sponsored by the Manalapan High School marching band in January.

If you'd like to participate in the March 14th seminar, by no later than March 7, 2009, send payment (along with the registration form below) to the following address:

Manalapan Venture Crew 120

C/o  Manalapan Township Board of Health

120 Route 522

Manalapan, NJ  07726

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**Make checks payable to:  Manalapan Venture Crew 120**

Name  _____________________________________________________   

Years Driving ________________________

Home Address  ___________________________________________________________________________________ 

Email  ___________________________  

Daytime Phone  ____________________________    

Evening Phone  ________________________________

Course Fee = $30 p/person _____________

Insurance and/or Point Reduction (if applicable) = $15 p/person ________________________

For additional details e-mail Manalapan.Crew120@gmail.com.  Participants must be no younger than 15 years of age to attend.

Information courtesy of:

AMBER NOBLE-GARLAND
Weichert, Realtors
455 Route 9 South
Manalapan, NJ 07726
917-723-5645 - cell
732-536-4400, ext 199 - office

www.AmberLovesRealEstate.com

www.AmberNobleSellsHomes.com 

"Your Reliable Resource For Manalapan Real Estate, Local Info & More" 

UPDATE:  Due to the heavy snow NJ experienced, this FREE seminar was canceled for March 2nd. The NEW date is Monday, March 9, 2009, 6:45pm-8:30pm at the same location.

Monday, March 2, 6:45pm - 8:30pm, the Freehold Township Democratic Club presents a FREE seminar on how to appeal your property tax assessment.

The seminar will be held at the Monmouth County Library, Headquarters, 125 Symmes Road, Manalapan, NJ 07726.

The speaker will be Beverly Bova-Scarano, Former Commissioner of the Monmouth County Board of Taxation, Past President NJ Association of County Tax Board Commissioners & Administrators, and Licensed Residential Real Estate Appraiser, State of NJ.

*This event is free and open to the public! Light refreshments will be served*

Topics to be covered include:

• How to avoid common mistakes
• Understanding property assessment appeals
• Just how many comparables do you really need?
• What to expect at the property assessment appeal hearing . . . if it goes that far 

RSVP's are appreciated but not necessary. Please RSVP by calling 732-616-8855 or emailing vegand@verizon.net.

*Please park in the side lot, off Alexandria Drive* 

The Freehold Township Democratic Club was re-established in 2005 by residents who want to ensure positive and balanced growth for our community.

Information courtesy of:

AMBER NOBLE-GARLAND
Weichert, Realtors
455 Route 9 South
Manalapan, NJ 07726
917-723-5645 - cell
732-536-4400, ext 199 - office

www.AmberLovesRealEstate.com

www.AmberNobleSellsHomes.com 

"Your Reliable Resource For Manalapan Real Estate, Local Info & More" 

CentraState Fitness and Wellness Center

Community Outreach Program

FEBRUARY IS NATIONAL HEART HEALTHY MONTH

Tuesday, February 10, 2009

2pm-4pm

Manalapan Township Municipal Building
120 Route 522

Manalapan, NJ 07726 

Manalapan Township NJ Mayor, Richard Klauber, will lead his colleagues and constituents by example by kicking off CentraState Fitness and Wellness Center's free blood pressure screening and body fat analysis taking place on Tuesday, February 10th from 2 pm until 4 pm in the Manalapan Township municipal center lobby. 

All those who participate in a screening receive a free one-day pass to the fitness center. In addition, anyone who wants to get started on the road to a healthier lifestyle by making an appointment to tour the facility can spin the Wheel of Health to win an exciting prize. Those who take advantage of this opportunity will experience first hand all of the excellent services, programs and professionals the center offers all of its members.  Some of the unique amenities featured at the facility include a comprehensive nursing assessment by CentraState staff prior to beginning your exercise program, as well as a follow-up consultation every 3 months. 

Also included in the membership is a one-on-one training session with one of the center's certified exercise physiologists who will familiarize you with all the exercise equipment, as well as put together a program based on your individual fitness level and goals.  The trainer will assess the program and modify it based on your results. 

Also offered at the facility are over 185 group fitness classes a week including cycle, yoga and pilates, ballroom dance, country line dance, Zumba and many more exercise classes.  In addition to latest cutting-edge exercise equipment, there is also a pristine aquatics center including a heated therapy pool, junior Olympic lap pool and a whirlpool. Both the men's and women's lockers rooms feature a steam room and sauna "Fit Kids" classes are also available to children ages three to 13 to both members and nonmembers.  

For more information, please contact Anthony DiPasquale at 732 845-9400

For more information about CentraState Fitness and Wellness Center, located in Freehold, NJ use this link.

Information courtesy of:

AMBER NOBLE-GARLAND
Weichert, Realtors (Marlboro~ Manalapan office)
455 Route 9 South
Manalapan, NJ 07726
917-723-5645 - cell
732-536-4400, ext 199 - office

www.AmberLovesRealEstate.com  

"Your Reliable Resource For Manalapan Real Estate, Local Info & More" 

The "Negative" Projections Were Right WRONG! 

More good news! For the second week in a row, there has been an unexpected improvement in the real estate market. Today, the National Association of Realtors (NAR) reported that its Pending Home Sales Index, based on contracts signed in December, rose 6.3 percent. It had been projected that pending sales would fall. "The monthly gain in pending home sales, spurred by buyers responding to lower home prices and mortgage interest rates, more than offset an index decline in the previous month," said Lawrence Yun, chief economist for NAR. "The biggest gains were in areas with the biggest improvements in affordability." Spread the good news!

Information courtesy of:

Weichert, Realtors (Marlboro ~ Manalapan office)

455 Route 9 South

Manalapan, NJ  07726

917-723-5645 - cell

732-536-4400, ext 199 - office 

www.AmberLovesRealEstate.com 

"Your Reliable Resource For NJ Real Estate & More" 

Here are three FUN THINGS TO DO IN NJ!

Not only are they fun the entire family can enjoy, but they're educational & FREE of charge too.

Each of the events takes place at the Monmouth County Library headquarters:

125 Symmes Drive
Manalapan, NJ 07726-3249

For more information call:  732-431-7220

STEP-INTO-HISTORY:  BEN FRANKLIN GAME SHOW

Saturday, February 7

11:30 am - 12:15pm

Test Your History IQ! A live, interactive game show about Ben Franklin 

Ages 5 years and older
The irrepressible puppets Dave and Augie make learning history FUN! Lots of audience participation . . . an entertaining on-screen tour of Franklin's Philadelphia . . . and a wacky music video.

LINCOLN'S LEGACY
A BICENTENNIAL CELEBRATION Meet "President Lincoln"

Saturday, February 7

1:00 pm - 1:45pm

Meet President Lincoln

Grades 4 and up
To celebrate the 200th birthday of Abraham Lincoln, an historical interpreter will portray the 16th president and author of the Gettysburg Address, who rose to greatness from his humble beginnings in a log cabin.

BLACK HISTORY MONTH

Meet "Sojourner Truth"
Saturday, February 7

2:00 pm - 2:45pm

Meet Sojourner Truth

Grades 4 and up
A living history presentation of Sojourner Truth, the abolitionist and feminist whose witty and fiery speech "Ain't I a Woman?" rocked the Women's Rights Convention in 1851. This program is courtesy of the Horizons Speakers Bureau of the New Jersey Council for the Humanities.

Information courtesy of:

Weichert, Realtors (Marlboro ~ Manalapan office)

455 Route 9 South

Manalapan, NJ  07726

917-723-5645 - cell

732-536-4400, ext 199 - office 

www.AmberLovesRealEstate.com 

Below is actual written correspondence I've been having with one of my clients looking to purchase a home in Monmouth County or Middlesex County New, Jersey. This type of exchange is one that occurs regularly with buyers & sellers who are unsure about the state of the real estate market. I am glad we discussed this in writing, so I can share it word-for-word with others who may have the same questions. 

CONVERSATION VIA TEXT MESSAGE

December 23, 2008

CLIENT:  Hey Amber this is Dxxxxx. I hope you are well. Want wish you & your family happy holidays. Thanks for the anniversary card you sent us. We were shocked you remembered us mentioning that. I know you're a pro with this text message thing but I'm new to this so go easy on me. hahahaha

AMBER:  Hi Dxxxxx! Great to hear from you. I was wondering what was going on with you since I hadn't heard any feedback from you on the homes I've been sending you.  Are you & your wife still looking to buy a home soon?

CLIENT:  Sorry about taking awhile to get back to you. We've been so busy. Decided to put the house search on hold for now. But I know the prices will go down a lot further. When they drop we definitely still want you to be our agent. About to head into a mtg. Will catch up with you soon.

AMBER:  Ok. Thx for the msg. I have some valuable info I think you'll want to hear but don't want to keep you from your mtg. Will follow up with you the week after the holidays. Enjoy!

Below is when we resumed our exchange of messages now via email...

January 14, 2009  

AMBER:  Hope your time during the holidays with your family was the best ever! I'm curious about something you said in your last message to me on Dec 22. Exactly where did you hear that the types of homes specifically in the towns you're interested in will be going down in price soon? Or are you speaking in general terms across the country?

CLIENT:  Well that's what they've been saying all the time on CNN, FOX and most of the news channels. Everyday they say that home prices haven't hit the bottom yet and they said things will continue to drop dramatically. So since it's all over the news I know they must be right.

AMBER: Actually prices ARE NOT going down much further in the towns you're interested in like Manalapan, Marlboro, Freehold and Freehold for homes that are in GOOD shape expecially. If you look at the latest statistics from NJAR (New Jersey Association of Realtors), the homes that have asking prices that are continuing to drop are homes that are OVERPRICED and/or homes that are in POOR CONDITION and/or homes that have sellers who are financially strapped (and possibly headed toward SHORT SALE or FORECLOSURE status). The NICEST homes, that look even prettier in person, are priced appropriately and are in desirable locations are selling FAST! When I say "FAST" I mean that in some cases those homes are selling in 30 to 60 days from the day they go on the market. In fact, I've been involved in two "bidding wars" over a couple of AMAZING homes in the past 45 days.

CLIENT: A house selling less than 60 days and bidding wars? Sorry but I have a hard time believing that kind of stuff is happening in this day and time. Mortgages are too hard to get these days and the economy sucks.

AMBER:  Everyone doesn't buy a home with a mortgage. Some people pay 100% cash for homes, and unfortunately bidding wars over homes do still exist in certain keys. Don't believe me? Checkout this link.

CLIENT:  I hear ya Amber...

Here is our FINAL exchange via email...

January 26, 2009

CLIENT:  Hey Amber just checking in again. We've been looking at the listings you've sent. So how's your business going? Do you personally have many houses for sale besides the ones you sent us? Are any selling?

AMBER:  Actually my business is going great...Thanks for asking! I currently have 11 homes being listed & marketed by me "for sale" and 4 homes "for rent." I just took 2 additional listings that will be listed for sale beginning Jan 29 & 30. One of the new listings is in KNOB HILL and the other is in LIGHTHOUSE BAY by the South Amboy waterfront. Of the 13 homes I have for sale, I have had multiple offers from buyers on 3 of them and I am currently negotiating new offers I received last week on 4 of the homes. On the sales side, I have a number of buyers I am representing, and a few closings lined up for February & March. Things are looking positive, and I am optimistic they will only get better. :)

CLIENT:  Good for you. So what about the houses that are in the high 500's and up? When are those coming down in price?

AMBER:  One thing we should always keep in mind is that a place to live is something no human being can do without. So there are ALWAYS going to be millions of people who have a need to buy or sell a home. In some cases more expensive homes may take a bit longer to sell than less expensive homes. The bottomline is that when any house is priced properly (no matter what it costs), and it's in GOOD condition, it will SELL...period!

CLIENT:  So then why do I keep seeing prices dropping on various houses?

AMBER:  Price reductions in today's real estate market are not an unusual thing, due to a variety of reasons. Here are a few:

1. Sometimes a house could've been overpriced initially and finally the sellers get really motivated and decide to price their home to reflect the current market value...So they reduce their asking price.
2. Sometimes a house was priced appropriately, but then one or two similar homes in the area sold for less than everyone anticipated, so it brought the value of any subsequent sales down a knotch....So they reduce their asking price.
3. Sometimes a seller might have finally found their next home they want to move to and they can purchase it at a GREAT price, but may only qualify to purchase the new home once they have someone who's agreed to purchase their current home....So they reduce their asking price.

So you see, there are any number of reasons why a seller may decide to reduce the listing or asking price of their home. Keep in mind, the list I gave you doesn't even highlight every possible motivator for a price reduction on a home. Each homeowner is different.

CLIENT:  Wow. You're making it hard for me to argue with you! What do have a real estate crystal ball or something? hahahaha

AMBER:  Really?  Hmmmm...that means my crystal ball really does work I guess :)

CLIENT:  Ok so tell me this when is the real estate market going back up?

AMBER:  All jokes aside....I am so glad you asked me this question today of all days. Here's some GREAT NEWS that just came out today! There is new evidence that the housing market is improving. Today (January 26, 2008, the National Association of Realtors (NAR) reported that existing-home sales posted an unexpected increase in December 2008 as buyers responded to improved affordability.  According to NAR, sales of existing homes increased 6.5 percent in December 2008 compared to November 2008. In addition, the inventory of unsold homes fell nearly 12 percent to a 9.3-month supply, another encouraging sign.  Need more proof? Take a look at the Trulia Local Real Estate Trends graph in yellow/orange on the right side of this blog page. If you click the link that says "PRICE" you'll notice the prices beginning to creep up in Manalapan and Freehold isn't far behind. Click the link that says "INVENTORY," and you'll notice that the # of homes to choose from is steadily decreasing. Both hold true for Marlboro and Old Bridge as well.

CLIENT:  Really? I am surprised by those statistics.

AMBER:  Are you? I actually thought you were going to say I sound like a "broken record" considering I've been emphasizing for the past few months that sales have been increasing...lol :)

CLIENT:  Come to think of it you have been saying that over & over to us for a few months now. I thought you were just saying that as a realtor sales tactic. To be honest with my wife has been saying she agrees with you. I thought that was just because she's trying to convince me to buy her a new house now instead of later in 2009. But shhhhhh...don't tell her I said that. hahahaha

AMBER:  No sales crazy tactics from me. Just the truth. Wow!!! So Gxxx has been acting as my "undercover" co-agent all this time??? lololol :)  So does this information give you a more comfort and security to start looking for houses now? I know you two like the best of the best. I'd hate for you to wait too long then wind up competing with a bunch of other buyers in the Spring and not be able to get the best home for the best price.

CLIENT:  I am going to talk to Gxxx to see if we can meet with you next week to see 3 or 4 of the houses you sent us. I doubt if she'll say no. hahahaha Thanks for giving me this information. I am not totally convinced that things won't drop a lot more but this has really helped me look at things in a different light.

AMBER:  I had dental surgery today, so I will call you to confirm an appointment by Wednesday 12 noon once I'm a bit healed up and can talk. Thanks for keeping me on my toes! Speak with you soon.

Information courtesy of:

Weichert, Realtors (Marlboro ~ Manalapan office)

455 Route 9 South

Manalapan, NJ  07726

917-723-5645 - cell

732-536-4400, ext 199 - office 

www.AmberLovesRealEstate.com 

Lately I've been cleaning out my email inbox and combing through old notebooks. I use these notebooks to jot down bullet points from countless conversations and exchanges I've had with people about a myriad of real estate topics. This exercise got me thinking...there's a wealth of valuable information that could be shared to help other people who have similar questions.

So I asked a number of my clients if they mind me sharing with others who might also be in need of help, and they agreed.

Going forward, I will regularly share detailed excerpts or brief tidbits from these exchanges in a NEW series called...

"ASK AMBER"

NOTE: I am NO "Dear Abby" but I'll give it my best shot. :)

*Please note that certain details and names have been changed to protect the privacy of the individuals*

Below is an actual email I received from a homeowner facing mounting economic challenges, and is looking for answers.

Dear Amber,

I was referred to you by my friend Tony. I know you've tried to reach me a few times over the phone, but I work crazy hours on my job so it is easier to reach me on my email.

I live in Manalapan with my kids and my wife. We purchased a townhouse in 2006 with almost no money down. Right now we're in the process of separating. Most likely we will be getting a divorce. I gave you this background info to lead me to the real reason for writing you which is we need help fast.

My wife lost her job last year so we fell behind on our mortgage. We are now 8 months behind in our mortgage payments. I just thank God that they haven't foreclosed on us yet or else we'd have no place ot go. We have two children (ages 2 and 13). The oldest in a private school we just had to take her out of because we can't afford it. I've worked on my full time job for 7 yrs. To make ends meet I now have a second job too.

A guy on my job said I could do a short sale but I don't really understand what that means. He made it seem like anybody who is backed up in their mortgage payments could just call their loan company and tell them they want a short sale. I want to avoid foreclosure if I can. My wife is mostly worried about what the neighbors on our block will think but I could care less what they think. My main concern is making sure my wife and kids have a roof over their head. I would also like to save my credit if possible as well so I can get a fresh start.

Is there any help you can give us to figure this mess out?

Sincerely,

S.D.

DEAR S.D:

I am sorry to hear you & your wife are having such tough time. You have nothing to be ashamed of. Trust me, millions of Americans are dealing with the very same issue.

Since it's hard for us to connect via phone, I will explain "SHORT SALES" in this email to you as easy as possible.

In real estate, a "SHORT SALE" is a pre-foreclosure sale that happens when the outstanding loan against a property is greater than the current market value of the property itself. A short sale is a solution for homeowners who are behind on their mortgage and cannot afford to pay. Usually they want to be able to walk away from the property without blemishing their credit to the same extent that a foreclosure or bankruptcy declaration would. Not all banks will allow a "SHORT SALE," but in these challenging economic times most will.

These are the basics of how it works...

Let's pretend a homeowner is behind in their mortgage payments a few months is facing foreclosure. Now the letters from the bank or mortgage company demanding payment begin. The homeowners owe a mortgage of $345,000 but let's say the house in today's market is only worth $320,000. In order to get out of this home there additional costs that need to be paid to cover real estate transfer taxes, marketing fees, etc.

The homeowner should first call their mortgage lender to explain the situation. They need to make sure they get they write down the date, time and name of the person they spoke to. The homeowner will also have to fill out a "financial package" provided by the lender. This package typically includes paperwork that needs to complete and must be accompanied by a letter explaining a legitimate financial hardship, a year or two worth of tax returns, multiple bank statements, an authorization letter to allow the Realtor whom they eventually choose to discuss their business matters with the lender and whatever other documentation they require. The lender will indicate exactly what items need.

In my experience with short sales, the lenders almost always tell the homeowner that they cannot tell them if the short sale will be 100% approved or not until someone actually writes an offer to purchase the home, and submits additional documents.

The next step is for the homeowner to do what you just did; ask a friend, family member or neighbor for a referral to a good Realtor (who knows how to handle SHORT SALES). Or they could go to the Internet to www.google.com and type in the words "MANALAPAN NJ SHORT SALE REALTOR."

The listing agent (SHORT SALE REALTOR) whom is interviewed by the homeowner would give a presentation to show exactly how they would market the home. The listing paperwork would be filled out, the would be listed for sale, exposed to millions of buyers with aggressive marketing and eventually a qualified buyer would make an offer to purchase the home.

Let's say the buyer and seller negotiate back/forth, then settle on a written offer of $315,000. The listing agent would then present that written ofer to purchase to the mortgage lender's "mitgation" dept. The offer would then be circulated through a variety of departments within the lending institution, and IF accepted by the lender as an acceptable offer to purchase, the contract will be considered full payment for the loan by the lender. This is a "SHORT SALE."

That's only the beginning though, as there are additional steps that must be completed in order for the home to actually go to settlement and close. The good part is that by selecting a Realtor who is trained to do short sales and has experience with this kind of real estate transaction, you can focus on your family while the agent handles all the details of getting your home sold.

I would be happy to meet with you in person to give you a complimentary home value analysis to show you what your home is really worth in today's market. I'll also go over remaining details about how a "SHORT SALE" works.

I am available to meet with you Wed, Thurs, Fri, Sat or Sun of this week between 2pm-8pm. Which day/time works best for you & your wife?

Many thanks,

Amber

Weichert, Realtors (Marlboro office)

455 Route 9 South

Manalapan, NJ  07726

917-723-5645 - cell

732-536-4400, ext 199 - office 

www.AmberLovesRealEstate.com

Recently I received one of those dreaded calls that none of us as Realtors ever want to get;  "Uh Amber, I don't know how to say this but um..."

Needless to say, my breathing paused for a second and I felt like my heart dropped to the floor. 

The agent on the phone continued with something along the lines of "my sellers have decided to take a different offer."

So of course my next question was...

Is the other offer for the full price listing amount?"

He said it was not a full price offer but much better than our agreed to offer and it was an ALL cash deal.

There hadn't been any "action" on this home in the nearly 6 months it had been listed, so they did another price reduction.

Now that I brought in qualified buyers, with no contingencies, nothing to sell in order to get a mortgage in order to buy this home and a 30% down-payment, the home was finally going to sell but not to my buyers.

This should've been a piece of cake, right?  I mean it IS a "buyers market" right? WRONG!

At first I was really annoyed by it all; I mean think about it, this guy gets no traffic on a home he has listed for a long time, I bring him A+++ buyers, buyers & sellers agree and sign-off, paperwork goes to the attorneys and we're in New Jersey mandated 3-day attorney review period. After 3 days (or as soon as all parties agree), we'd officially be "under contract."

I have a great rapport with my buyers, and am confident I will sell them something else when the right property comes along. I was as worried about me losing a deal, as much as I was concerned about them losing out on their dream house. 

The feelings of frustration didn't last very long, because as much as I disagree with how things happen in the real estate biz at times, "business is business...never personal."                                                      

The greatest sense of disappointment I felt was having to call my buyers. It killed me to hear the sound of defeat in my client's voice when I told him he'd have to tell his wife that the dream house he promised to purchase for her was no longer within reach. They are such wonderful people, and I'd never want to let them down. The husband resigned to the belief that it must not have been meant to be, but I could still hear that he was bummed out about it; not with me, but with the idea that they lost out on the house. 

Here are four valuable lessons for ALL home buyers can learn from this:

1. Any true financial wiz will tell you the name of the game is to "buy low and sell high." So when your Realtor tells you that there are a lot of buyers in the market right now I stronly encourage you to give that some serious thought. Interest rates are at a nearly 40 year low and buyers are coming out in droves to purchase homes. Don't believe it? Checkout this story for proof. 

2. Please DO NOT assume that no one else is able to actually get a mortgage but you. There are tons of people with great credit scores over 740 and money in the bank looking at houses everyday in this current climate. Often times they are cash buyers. As we've all been told, CASH IS KING!

3. The one-size fits all generalized notion that it's a "buyers market" is FALSE. While there are plenty of "so-so" houses to go around in many areas across the country, in New Jersey where I specialize in selling homes(especially in towns like Manalapan, Marlboro, Freehold, Old Bridge) there ARE NOT enough drop-dead gorgeous, appropriately priced houses on the market right now to go around. This NOT a "put-on"...this is the truth!

Therefore when really HOT houses pop on the market (especially once the price gets reduced), you have a bunch of qualified buyers ALL vying to purchase the same house. It's like a bunch of people fighting over the last new video game in the height of the holiday shopping season at Target.

In fact we're seeing the reemergence of multiple contracts being presented. This means that it's not necessarily the buyers having the upper hand on the sellers anymore, but rather the "buyers" battling it out with "other buyers." 

 4. Never take anything for granted or assume you're the only one eyeing a particular house. If YOU really LOVE a house, chances are there may be other qualified buyers lurking who LOVE it too! Please don't get YOUR heart broken. If it feels like the right house, it probably is the right house. Have your agent write an offer ASAP before someone else does.

Stay positive & motivated,

Amber

455 Route 9 South

Manalapan, NJ  07726

917-723-5645 - cell

732-536-4400, ext 199 - office 

www.AmberLovesRealEstate.com

Yesterday morning I had to make a quick trip to the offices of the Monmouth County NJ Board of Realtors, to drop off a package. Once I finished running that errand, I made an attempt to drive out of the parking lot and head straight toward the NJ Turnpike North, and be on my merry way. Unfortunately fortunately for me, things turned out a bit differently.

Of course I couldn't resist finally taking a peak at the brand new Jersey Shore Premium Outlets which officially opened November 13, 2008. I've been waiting for this placed to be birth for what seems like forever. I love the outside facade of this place; it sort of has a nostalgic "Wildwood days" feel to it. Can you believe that the location is actually right off a road called "Route 66?" Now is that nostalgic or what!

As a recovering former shop-a-holic I am quite proud of myself and how I handled myself today;I only purchased a few items (2 pair of shoes, a dress plus 4 blouses) and didn't go overboard...lol! :)

Seriously though, the Jersey Shore Premium Outlets offers 120 quality designer brand name stores. I found it to be a great "dress for success" alternative to busy shopping malls for a business-minded Realtor like myself. I was able to find some of quality brands I appreciate (Ann Taylor, Burberry, Jones New York, Calvin Klein, BCBG, Michael Kors, Banana Republic, UGG, Elie Tahari & more) all at affordable prices. The Anne Klein Outlet Store is coming soon, and I cannot wait. They also have stores guys can really appreciate like Under Armour, Cole Hahn, Kenneth Cole, NIKE and Adidas.

Another thing that impressed me about this new shopping outlet, is that the stores offered current merchandise that is still wearable for the current season, and not a bunch of picked over leave-behinds that no one wants to buy. In fact, I even came across some fabulous designer leather purses in two of the stores, that I couldn't even find in any of the "high-end" department stores I recently visited.

The  Jersey Shore Premium Outlets are conveniently located in Tinton Falls, an area in the heart of central New Jersey (Monmouth County) right off the Garden State Parkway.The Outlets are easily accessible from neighboring towns such as Freehold, Marlboro, Manalapan, Howell, Colts Neck, Holmdel, Old Bridge, Keyport, Hazlet, Matawan, Aberdeen Township, Sayreville, South , East Brunswick and many more. Use these directions to access the outlets via car.

I must say, my little impromptu shopping excursion to the "Jersey Shore Premium Outlets" was time & money well spent. I had lunch in their food court, picked up some classic pieces to add to my business wardrobe, and even got in a little exercise walking around to the various stores.

The "Jersey Shore Premium Outlets" has the potential to give the region economic and tourism boost at time like now when it's needed the most.

Please do yourself a favor, and pay this place a visit!

	Group Tours FAQs Gift Cards VIP Club Our Centers Our Brands

120 OUTLET STORES Find impressive savings at Banana Republic, BCBG Max Azria, Burberry, Calvin Klein, Cole Haan, Elie Tahari, J.Crew, Juicy Couture, Kate Spade, Kenneth Cole, Michael Kors, Nike, Sony, Theory, Ugg.
Jersey Shore Premium Outlets One Premium Outlets Blvd , Tinton Falls, NJ 07753 (732) 918-1700

Information Courtesy of :

Weichert, Realtors (Marlboro office)

455 Route 9 South -  Manalapan, NJ  07726

917-723-5645 - cell

732-536-4400, ext 199 - office  

www.AmberLovesRealEstate.com

"Your Reliable Resource For Real Estate & More" 

With so much negativity and bad news on TV, the radio and Internet, I think it's about time we start spreading the GOOD NEWS!

There are plenty of GOOD LOCAL NEWS STORIES of Manalapan, NJ residents and business owners who are making great things happen, locally and around the world.

Sometimes those folks' stories make the news, and other times they're just ordinary hard-working people who achieve extraordinary things but go unnoticed.

I will regularly bring you a Top 5 series of stories that will highlight the exciting accomplishments of everyday who live and/or work in Manalapan, NJ.

Simply click the links below to read each story.

Enjoy! 

1.  Orthopedics site names Manalapan, NJ resident, Gail Plaza, as wellness director.

2.  Manalapan, NJ resident and college freshman, Kristin Danella, ties 3-point record in UMass win.

3.  Martial arts students put skills to good use for a good cause at Klein's Tae-kwondo Academy in Manalapan, NJ.

4.  High school senior and Manalapan, NJ resident Robby Andrews takes top honors at winter track & field competition.

5. Dr. Cynthia Salter-Lewis, board certified medical doctor specializing skin care and owner of RENEW MED-SPA in Manalapan, NJ donates time, staff and spa beauty treatments to female domestic violence survivors.

If you are a Manalapan, NJ resident or business owner, and you'd like to share a GOOD LOCAL NEWS story that may not have made the newspaper, click this link and email it directly to me. If I publish a story about you here on my blog, it could potentially be read by millons of people on the Internet!

Information Courtesy of :

Weichert, Realtors (Marlboro office)

455 Route 9 South Manalapan, NJ  07726

917-723-5645 - cell 732-536-4400, ext 199 - office  

www.AmberLovesRealEstate.com

"Your Reliable Resource For Real Estate & More"

 MONMOUTH COUNTY NEW JERSEY SALES STATITISICS (as of December 12, 2008) 

Although the data indicates a slight dip in the # of sales in 2008 vs. the same period during the preceding year in 2007, a decline in sales activity didn't take anyone by surprise, given the country's economic challenges.

The good news is that many Realtors in Monmouth County have seen a strong increase in the number of buyers who are now actively looking to purchase homes in the next 30-90 days.

In addition, there are a number of beautiful Monmouth County area homes currently listed on the market in Manalapan, Marlboro and Freehold which have received multiple written offers on them. While this may sound foreign to some people, it really is true. Today's buyers are willing to put in contracts to purchase when they come across home they really fall in love with.

The homes that garner more than one contract are are the ones that meet the following criteria:

1. Are in move-in condition
2. Have been well-maintained
3. Are priced appropriate for today's market 

With interest rates being so low and holidays being behind us, the influx of eager buyers looking to make moves is a positive sign in the right direction for the Monmouth County housing market. Not to mention, first-time home-buyers have the added incentive of this attractive $7500 tax credit.

In fact, desirable communities like Point de Jardin in the Morganville section of Marlboro Township, Knob Hill in Manalapan and Patriot's Pointe in Freehold, offer affordably priced condos and townhomes for first-time buyers, as well as the experienced homeowners who may want to scale down and live a virtually maintenance-free lifestyle.

If you have questions about the current state of homes in Manalapan, Marlboro, Freehold or anywhere in Monmouth County, please don't hestitate to contact me.

Information Courtesy of :

Weichert, Realtors

455 Route 9 South -  Manalapan, NJ  07726

917-723-5645 - cell

732-536-4400, ext 199 - office  

www.AmberLovesRealEstate.com

"Your Reliable Resource For Real Estate & More"