Now that we've experienced the fallout from the subprime lending disaster, there is no longer such a thing as "easy money." Now you need perhaps ten to fifteen percent down, an excellent credit record and verifiable proof of income when you apply for financing.
One reason for all this scrutiny is that many lenders sell their loans on the secondary mortgage market, and they are using required (and automated) software to factor in all the variables in the equation that results in a thumbs up or a thumbs down. In other words, it's not quite as personal as it used to be.
Save yourself time, stress and heartbreak by seeking preapproval for financing before you even look at House One. I say "preapproval," and not "prequalification," because prequalification is only an "estimate" of the loan amount for which you might qualify once your application has been fully reviewed.
Preapproval puts you in the driver's seat with sellers, because it means that you have already basically "applied" for financing with your credit report, verified income, and proven ability to make a respectable down payment. Preapproval goes several steps beyond prequalification, and gives you the best indication of how much home you can afford.
Maximize the time spent on your home search by taking the all-important step of seeking financing first. Then make your offer 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.
We are very excited to see the overwhealming response to our online foreclosure list! These homes seem to be going fast, especially with the $8,000 tax credit coming to an end later this year! Hurry up and download your list of bank-owned and foreclo...sed homes in Ocean and Monmouth Counties (for FREE) before it's too late!!
Click here to access our free list of foreclosed and bank-owned homes!
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.
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 any of your friends or family have recently applied for a home loan, you've probably heard that lenders are nervous, with tough new rules and demands for stacks of paperwork. Good mortgages are still out there, but you should be prepared before applying.
First, understand how your credit score impacts the interest rate charged on your loan. If your score is 720 or higher on the scale of 850, you will qualify for the best rates. If it's between 700 and 719, you could expect 0.375% added to that rate, while a score between 680 and 699 might add 0.5%.
Next, determine how much you have available for down payment, and how that will affect your loan's terms. A "conforming loan" (that would be purchased by Fannie Mae or Freddie Mac) will require a minimum 10% down payment.
However, if you don't have that much to put down, you can investigate a Federal Housing Administration (FHA) or Veterans Administration (VA) loan. These government-backed loans are targeted towards those with lower credit scores and only require a 3.5% down payment.
You can even use this year's First Time Homebuyer Tax Credit to help pay closing costs, buy down the interest rate, or add to your minimum down payment. Just have employment, banking and tax records organized, and be patient while overworked lenders review your application.
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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