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.
America's Leading Discount Real Estate Company! We offer "Full Service With Savings"! That's right - FULL SERVICE!! Give us a call, email or check our website for details- www.WeSellCentralNJ.com
Increased awareness of "non-traditional" business models, like that of Assist-2-Sell, has spawned a national debate about the differences between "traditional" real estate companies and "discount" real estate companies. People involved in the discussion try to characterize real estate companies as being either "traditional" or "discount." It would be more accurate to differentiate using three categories:
As a "discounter," Assist-2-Sell is often inaccurately lumped in with the third category, "Limited Service/Discounted Commission." A key difference between Assist-2-Sell and others in the "discount" real estate space is the level of service. Assist-2-Sell discovered early on that while sellers love the discounted commission, they still need and want full-service. Assist-2-Sell franchise offices are full-service real estate brokerages staffed by experienced, licensed real estate professionals who are members of the National Association of REALTORS®, as well as state and local REALTOR® associations. They take care of everything home sellers need from a real estate company, but charge a lower commission.
How is Assist-2-Sell different from "traditional" real estate companies?
The most obvious difference between Assist-2-Sell and "traditional" real estate companies lies in the commission structure. Traditional firms typically charge home sellers a high commission that is a percentage of the sale price. (Example: Six percent). Assist-2-Sell offices charge a low commission. (Example: As low as $595 + 2.98%!)
How is Assist-2-Sell different from other "discount" real estate companies?
Assist-2-Sell is a full-service discount real estate company. Other companies that discount their commission usually do so by taking away services. If they charge less, they are going to do less.
Some "Limited Service/Discounted Commission" companies are Internet-based and may only offer placement of the house in the MLS and rely on the MLS-selling broker to handle the entire transaction. While these models do have some appeal, Assist-2-Sell has found they are not a solution for the majority of home sellers who want and need full-service but don't want to pay a high commission.
How is Assist-2-Sell different from "For Sale by Owner" real estate companies?
Many homeowners decide to sell their home without the assistance of a real estate broker. Most "For Sale by Owner" (FSBO) real estate companies simply help these homeowners advertise their house on the Internet. Assist-2-Sell is not a "For Sale by Owner" solution; it is a full-service real estate brokerage.
Dear Assist-2-Sell,
It had been over twenty-two years since we last sold a home. Essentially, we thought the process was not at all together different than our last dance with real estate. We were wrong. Things had changed. Fortunately, the daunting task actually proved to be far more painless than we anticipated. Mike, our sales agent matched his words with his actions and never over promised anything to us. In fact, he over delivered. All our expectations were more than met. We sold our home in Jackson Township faster than we have ever imagined and were well compensated for it. We found Mike and Assist-2-Sell an organization that we could really lean on. It sounds cliché, but they have the tools and resources of the "big" agencies, but the people skills and genuine compassion of a smaller agency. I have no doubt that the decision I made in working with Assist-2-Sell was the best choice I could have made for my family.
Charles M.
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Dear Mike,
Thanks so much for all the help in selling our Lawrenceville, New Jersey house.
After making the painful decision to sell our family home of 50 years, Assist-2-Sell made the process easy. We were very pleased that our house sold in two weeks during a depressed real estate market.
Thanks again for making the transition to our new lives as easy as possible.
Dr. Gary K. & Family
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Dear Mike,
Our entire family would like to thank you for the great service and assistance you've accorded us for purchasing our new home. I believe you are "heaven-sent" because out of the blue, your company contacted us to view that house which we never thought we'd come across before (in Mercer county). Nevertheless, you've been such a great part of our first-time being homeowners. A BIG THANKS!
Mervin M.
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Working at an Assist-2-Sell office is considerably different from working in a traditional office. We think you will find the difference refreshing and rewarding.
Comparison of traditional brokers and Assist-2-Sell
Traditional real estate brokers typically look to their agents to generate listings and sales. The broker recruits experienced agents from competitors and new agents from the general public or real estate schools. The experienced agents are appealing because they will hopefully bring with them a network of referral and repeat business. The fact that they are already trained is also a plus. The new agents, while requiring training and nurturing, are appealing to the traditional broker as they open the door to their "sphere of influence." This means their contact with friends, relatives, and acquaintances could bring more business. They hopefully also bring enthusiasm and a willingness to prospect for sellers and buyers.
In summary, the traditional brokers rely heavily on their agents to drive the business in the door.
The Assist-2-Sell concept is just the opposite. We believe that our concept needs to be strong enough to attract the business. We do not rely on agents to do the marketing of our concept. The broker/owner handles that aspect. While our competitive marketing programs attract business, we still need to get the message out to the consumers. We depend on our agents to provide the professional skills necessary to service the business we generate. Assist-2-Sell agents focus their efforts and energy on helping the buyers and sellers.
By offering home sellers superior marketing along with significant commission savings, they are attracted to Assist-2-Sell. At Assist-2-Sell, agents have plenty of opportunities to get face-to-face with sellers and buyers. Instead of spending most of their time looking for business, they spend most of it helping sellers and buyers. You'll also find that when you charge sellers less - they appreciate it. The relationship changes from adversarial to appreciative. Wouldn't it be nice not having to justify high fees?
How do agents make money when you charge so little?
Volume. Yes our agents may make less per closing than traditional agents; however, our agents typically have many more closings than the average traditional agents. End result - Assist-2-Sell agents make more.
There's more than money at stake!
While most Assist-2-Sell agents make above average incomes, money is not the only motivator. Quality of life is an important issue. When you work in an environment where you have more than enough business, the relationship between fellow agents in your office becomes less competitive and more collaborative. A true TEAM environment evolves. Everyone works together to deliver the best service for the sellers and buyers. We call it a "sense of community." Working Together Everyone Achieves More. Not many traditional offices can make this claim. In which environment would you rather work?
It Is Work
Assist-2-Sell agents are very busy. The best part is they are busy working with buyers and sellers, not searching for them. Typically an Assist-2-Sell office will generate many more times the leads as traditional offices. By relying on the concept and not the agents to generate business, Assist-2-Sell offices do not strive to fill lots of desks with agents. The average Assist-2-Sell agent will handle ten times the business as the average traditional agent. This means nine fewer agents requiring desk space and wasting time. You're surrounded by top Producers, and the best part is you'll become a top producer as well!
It is a full-time commitment
There's too much at stake for the consumer to turn the sale of their home over to part-time agents. The good news is that at Assist-2-Sell, you'll be successful enough to make real estate your full-time career. Your skills will improve faster with the experience and guidance you'll enjoy at Assist-2-Sell.
It is not for everyone
Some real estate agents are content with closing a few sales per year, making enough money, and not working too hard. These agents would not be happy and don't belong at Assist-2-Sell. The traditional world fits them best. Ours is a fast-paced, demanding, challenging world. Where do you see yourself fitting in? Don't permit yourself to make incorrect assumptions about what it must be like working at Assist-2-Sell. Be smart. Check us out. Give Mike a call or perhaps, call some of the agents working at Assist-2-Sell offices.
If you think you're ready to take your career to the next level, call or email for a confidential appointment immediately! Still not sure? Read an agent's testimonial below:
----- Agent Testimonial -----
"I have worked in the Mercerville, NJ office since June of 2006. As we all know the second half of last year was less than stellar. As of this writing, May, 2007, I have 15 listings with several more coming in over the next week.
To what do I owe this good fortune? It's rather simple - The Assist-2-Sell model of real estate, and the Broker of Record, Michael Sinton.
Some background on me might help you understand my satisfaction with this office and the program. I had been a co-owner of a nationally known brand of real estate for the prior four years. I wanted to sell my share in the business for a while, and when I found a willing buyer I jumped on the opportunity. That was in the late summer of 2005 during a very robust market, which was to change dramatically in the following months.
During my tenure with that company, I thought I had learned a lot about real estate. But guess what... I didn't.
When I came to the Mercerville office, I soon found out I knew very little. I work fairly well with people - I think I have strong interpersonal skills. That was only the tip of the iceberg. Each day became a challenge to learn something new about the process of real estate, as well as the impact of decisions on clients.
With the guidance of Michael Sinton, I feel I have learned more during the past year than I did in my prior endeavor. Michael has trusted me with all office-generated listing leads. Once I get to the table with a seller, it's a hands-down, win-win solution to the seller's situation, because no other real estate company can match the flexibility of our program.
We all know that when you're selling, you sell yourself first, the company second, and the product third. Believing in the product makes the company sale easier and the selling of self even easier than that.
All in all, it's a great relationship. Finding the right product from the right company makes every day enjoyable. Sure there are ups and downs in this business, just like any other, but remember the highs and forget the lows. When a door shuts a window of opportunity will open."
<Sales Associate>, Assist-2-Sell Buyers & Sellers Edge
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