Jim Flanagan

I was inspired to create the video below by an e-mail I received this morning. Here, in their entirety, are both the e-mail and the video. Enjoy and Happy Thanksgiving!

Good Morning! It is now Thanksgiving week, and every year I struggle to find the right words to express my gratitude and appreciation for your support and hard work. I think most of you would agree, as 2009 has evolved, it has turned out to be one tough year! I wonder how it would compare to the challenges faced by our forefathers as they began to shape our country. It has been nearly four centuries since the Pilgrims survived their first winter at Plymouth. As it is told, that first winter was brutal-nothing like anything they had ever experienced before. But they prevailed with the resiliency that Americans have demonstrated time and time again In so many wonderful ways, we come together at this time to cherish what unites us. As we sit down to our Thanksgiving Day meal, we must remember that not everyone will be with their family and loved ones this Thanksgiving. We have the men and women of our armed services, who have given up their holidays and time with their families to make sure we can safely be with ours. My sincere thanks to each of you, and your families for their support of your efforts. Coldwell Banker thrives because we have the best people, with a common set of values, working to make a difference in people's lives. As you gather with your family and friends, I hope you will find many blessings for which to be thankful.

Warm wishes for a Blessed and Happy Thanksgiving! P.Dawn Covahey Executive Business Consultant| Coldwell Banker Real Estate LLC

CLICK HERE TO WATCH THE VIDEO!

On November 6th, 2009, President Obama signed, into law, legislation extending and expanding the Homebuyer Tax Credit.

What does this mean for "First Time Home Buyers"?

What does this mean for "Move Up" Buyers?

Let's see, shall we:

CLICK HERE to watch our latest video on the HOMEBUYER TAX CREDIT!

Combined with "historically" low mortgage rates, an abundance of inventory and lower home prices (in general), the NAR may actually be telling the truth; "there NEVER has been a better time to buy." Or, in the very least; there may NEVER be an OPPORTUNITY to buy a home like this again!

Monthly Real Estate Market Report for Toms River, NJ - October 2009

October by the numbers:

•· 70 The number of Single Family Homes CLOSED during the month

•· $382,092 Average LIST price for October*

•· $356,125 Average SALES price for the month*

•· 120 Average DAYS ON the MARKET for October

•· 93.20% The SALES price to LIST price RATIO for the month

•· 737 Number of Single Family Homes ACTIVE on the market in October

•· 10.52 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!

October 2009, saw 70 Single Family Homes CLOSE in Toms River, as compared with 58 in October of 2008. THIS MARKS THE FOURTH MONTH IN A ROW; WHERE SALES HAVE SURPASSED THE SAME MONTH OF THE PREVIOUS YEAR! Of those 70 homes, 28 were in the price range of $200,000 to $299,999 (40%). Combined with the CLOSINGS from the First 3 Quarters of 2009, this represents an INCREASE in SALES of 41%, in this particular price range, over the same time last year!

*These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.

September 2009 MARKED the 3rd consecutive month that sales of single family homes, in Toms River, NJ, exceeded the same month of the previous year! Given the fact that this past September also MARKED the one year anniversary of the collapse of FREDDIE MAC and FANNIE MAE, we must acknowledge the influence of the $8,000 Tax Credit for "First Time Home Buyers", despite what some political pundits may believe!

September by the numbers:

· 61 The number of Single Family Homes CLOSED during the month

· $364,011 Average LIST price for September*

· $342,037 Average SALES price for the month*

· 96 Average DAYS ON the MARKET for September

· 93.96% The SALES price to LIST price RATIO for the month

· 754 Number of Single Family Homes ACTIVE on the market in September

· 12.36 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!

September 2009, saw 61 Single Family Homes CLOSE in Toms River, as compared with 59 in September of 2008 (a slight increase but an increase none-the-less)! THIS MARKS THE THIRD MONTH IN A ROW; WHERE SALES HAVE SURPASSED THE SAME MONTH OF THE PREVIOUS YEAR! Of those 61 homes, 24 were in the price range of $200,000 to $299,999 (39%). Combined with the CLOSINGS from the First 3 Quarters of 2009, this represents an INCREASE in SALES of 38%, in this particular price range, over the same time last year!

*These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.

Courtesy of Rick Deluca, the following information illustrates the impact a single existing home sale has on the economy. Further evidence that until the housing market recovers, the economy cannot recover!

Perhaps you've heard about how a home sale impacts the local economy in many ways. Well, here is a study completed you may find useful.

The Economic Impact of an Existing Home Purchase:

Real Estate Industries: We assume that commissions, fees, and moving expenses, or income to real estate industries, associated directly with the purchase are about 9 percent of the median home price1.

Furniture: Furniture and remodeling expenses are a little more than $5,000 based on a Harvard Joint Center for Housing Studies figure.2

Multiplier Effect: The multiplier effect accounts for the fact that income earned in other sectors of the economy as a result of a home sale is then re-circulated into the economy. The National Association of Realtors®'s macroeconomic modeling suggests that the multiplier is between 1.34 and 1.62 in the first

year or two after an autonomous increase in spending. This means that each dollar increase in direct housing activity will increase the overall GDP by $1.34 to $1.62.

New Housing:

Because existing home sales have historically been associated with new construction at a ratio of eight to one, we add in one-eighth of the new home price3 to approximate the value of this construction being added to GDP. The existing home price is not directly added to the economy because the home was produced or constructed in the past. Only the value-added service related to the sale of an existing home is included. When a new home is constructed, the entire price is added to the value of GDP because it is new production.

1 An annual price is used to avoid seasonal fluctuation in home prices. 2008 Median Home Price is $198,100.

2 Improving America's Housing 2003. Measuring the Benefits of Home Remodeling. Harvard Joint Center for

Housing Studies Report: R03-1

3 2008 Median New Home Price is $230,600 per the Census Bureau.