JoAnna Siminerio, Manalapan Marlboro NJ Real Estate

Here is a summary of the new First Time Homebuyer Tax Credit. Thanks to Ann Arbor's own Missy Caulk for use of the fabulous chart!

The new bill increases the size of the existing temporary (and refundable) first-time home buyer credit to $8,000, up from $7,500. It will not be applicable for nonfirst time homebuyers, but it also removes the requirement under current law that the credit be paid back if the buyer stays in the home for at least three years. And it extends the credit's expiration date to Dec. 1, 2009, from July 1. Those eligible for this credit must have purchased a home after Jan. 1, 2009, and before Dec. 1, 2009.

First time homebuyers, search the Monmouth County MLS for your next home today!

Jo

JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
JoSiminerio@optonline.net
www.JoTheRealtor.com

I just received this letter and felt it important enough to share.

As the mom of a 14 year old, I think it is great that this project is finally getting off the ground.

As it has been said... "it takes a village."  I'm hoping that some of the good people of Manalapan show their community spirit and step up to give Arlene a hand.

MANALAPAN COMMUNITY CENTER Update

February 11, 2009

Hello,

I am very pleased to announce that after many years of trying to raise money to construct a building to be used for our children and our families, the Manalapan Township Committee will be allowing us the use of an existing building to use as a community center. 

However, this building is in need of much renovation.  To this end, the Community Center Committee is looking for volunteers to help with these renovations.  First, and foremost, we are in need of a licensed plumber and a licensed electrician who would be willing to volunteer their time to help create a safe environment for the children.  We also need someone to assist our general contractor (who is already volunteering time).

Lastly, anyone who would be willing to volunteer some time in other areas such as demolition & construction, cleaning and painting would be welcomed and appreciated.

Once the building is up and running, we will be looking for volunteers that we can call on to supervise and chaperone events. 

If you are interested in helping in any way, please contact Arlene White at (732) 536-8727 or MCCCommittee@gmail.com.

Thank you,

Arlene White
Chairperson
Manalapan Community Center Committee

Jo

JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
JoSiminerio@optonline.net
www.JoTheRealtor.com

"An Appreciation of Where I Live"

What a great idea for a photo contest.

See the flyer below for details on the photo contest being run by the Mayor's office.

I've been wanting to get out and about with my camera and take some photo's of Manalapan to submit to Localism. This contest gives me the perfect excuse to make it a priority!

I'm also excited that they broke down the categories by age. My daughter who is considering a future in photography will absolutely love this challenge!

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Preface: This post isn't so much about a seller not accepting the "first offer" or them wanting to hold out for something better. It is more about how getting a good offer, too quickly, or one that is unnaturally too high, which later falls apart can have a disasterous impact on the rest of the transaction.

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In today's market, getting an offer the first week a listing is on the market can either be a blessing or a curse, especially if the offer price is TOO high!

Allow me to explain.

You take a new listing. You work very hard to have the seller understand the closed comparable sales, active competition on the market, as well as where the market is trending. Of course they want to list high (it is to die for you know) and you want an aggressive list price. Eventually, although begrudgingly, you agree to try at the higher end of your listing range.

The first weekend the listing is active, you get 8 showings! Your seller is beaming and ready to start packing because they can tell how much each and every one of those prospective buyers loved their house!

Monday morning you get a call from a buyer's agent, who coincidentally doesn't do much business in this town and has no real insight into what homes sell for in this neighborhood. Her clients are relocating from Saskatchewan. They are offering just under list price and need the sellers to get out in 30 days.

These sellers cannot possibly accomodate that timeframe. They still need to find a house and their kids are in school, they haven't thought about packing and 30 days is way too much an inconvenience and....

Here comes the worst part...

"If these buyers loved the home and are offering near full price, there will be many, many more buyers standing in line right behind them. Perhaps the home is listed too low? Maybe we should consider raising the asking price!"

The story above is slightly embellished to make this blog more impactful, but it is based in truth. The Sellers didn't raise their asking price, but they did end up selling their home, more than 6 months later, for well over $50k less than their original offer!

If an offer comes in too fast or too high and doesn't result in an executed contract this situation can, and often does, create a huge stumbling block for the future progression of the sale process.

• It skews a seller's expectation. These fast and furious offers are often more personal value driven and shouldn't be perceived as true indications of market value;
  
  
• It can potentially create a sense of distrust between seller and their agent, especially if the offer is at or higher than the selling agent's suggested list price. In turn, the seller's agent will have an even more difficult time trying to get the price reduced;

I've shared this with my sellers, up front. I've told them to be careful what you wish for!

Jo

JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
JoSiminerio@optonline.net
www.JoTheRealtor.com
732-598-6823

This goes out to all the Newer Agents….

As a member of Weichert’s Certified Mentor Program, the question I’m asked by new agents most often is how to combat the “experience or track record” issue.

Here’s what I tell them…

If you are confident about your ability and believe in who you are and what you are selling, from your nose to your toes, they probably won’t even go there. They never did for me!

I remember MY mentor giving me the same advice. It didn’t matter. I didn’t believe her either. It was easy for her to say, she’s been a top producer every year since the day she started in this business. Yes, I was trained by the best! I couldn’t believe a seller could possibly NOT ask that question.

I remember my first “solo” listing presentation. I couldn’t sleep the night before! I just kept hearing it over and over in my head, “How many transactions did you close last year? What is your list to sale ratio?”

FYI… I got that listing and they never asked the dreaded question!

To be a really good agent, you need to be able to overcome (or at least avert) any objections that a potential client may throw your way; whether it be about experience, list price or commission, etc. Preparation breeds confidence!

So here are some suggestions for handling the objection… “I want an agent with more experience”

Now, all you “experienced” agents take a chill pill… we already know what YOU bring to the table, this post is to help give newer agents a leg to stand on when competing for business. Disclaimer: I am NOT discounting the importance or validity of having a good track record and lots of success stories to talk about!

“Mr. and Mrs. Seller, there are many agents who have pages of closings behind them, yet they are not positioned to effectively market a home in today’s challenging marketplace. Google me, “(Insert YOUR name here),” then you will understand the power of the internet when it comes to positioning a listing to expose it to the most buyers!”

“We all know that the definition of YOUR best buyer as the buyer willing to pay the most for your home. We also know that the odds of finding YOUR best buyer are directly proportional to the number of people to which it is exposed. More important than what an agent has done in the past is what are they capable of doing in the future to overcome the obstacles facing sellers in the market today? Wouldn’t you agree?”

“Are you looking for an agent who is cynical? Someone beaten down by today’s market? Someone who is still living in the “glory days” of listing a home 10% higher than market value and having a bidding war within a week?”

“As Malcolm Gladwell said, “Success is a product of unusual opportunity.” A successful agent is the agent who recognizes the challenges in today’s marketplace. One who doesn’t bury their head in the sand and instead positions themselves, and more importantly their clients/listings, to take advantage of the opportunities which really do exist today.”

“And if you really want to talk about track record, I’ll tell you a little about my office, I’m very proud to be a part of a team of 74 successful agents. Under the guidance of our Manager, Barbara Berg, with over 30 years experience in the real estate business to her credit, we closed 483 transactions worth over $178 million in 2008! How’s that for finding the opportunity?”

Sometimes it also helps to have visuals… feel free to use this one… hee hee…

Answer: It really doesn't matter so long as they are exposing your home to the greatest pool of buyers and the way to do that is by harnessing the power of the internet!

Jo

JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
JoSiminerio@optonline.net
www.JoTheRealtor.com
732-598-6823

* Dinosaur clipart courtesy of Discoveryschool Clipart