In real estate investment, one person's misfortune is another's opportunity. Indeed, with so many foreclosed properties on the market, buyers are poised to take advantage of a literally once-in-a-lifetime chance at investment or ownership.
Every opportunity presents some challenges, however, and you'll need more than luck to effectively buy a distressed property. These transactions are more complex than traditional sales, and you are strongly advised to seek the advice and representation of a real estate professional well versed in this new marketplace.
While a bank-owned home may look like a great deal, don't assume that any offer will be accepted. Most banks list their foreclosed properties through real estate brokerages, and while they want to sell as quickly as possible, the listing agents have a fiduciary responsibility to get a good price for the owner.
An insultingly low offer can table the transaction permanently, so proceed with common sense and a trusted representative. Keep in mind when negotiating your offer that you should have an additional 10% of the price tag set aside for repairs. A foreclosed property, particularly an older one, will almost certainly require some overhauls.
In addition to your agent, consult with a local real estate attorney who can advise you about current foreclosure laws, which vary significantly from state to state. Know exactly who's at the door when your opportunity knocks!
Be sure to check our website on a regular basis for an updated list of bank-owned homes throughout Ocean and Monmouth Counties.
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 http://www.WeSellCentralNJ.com.
When buyers become scarce, sellers have to step up and make their offering stand out to attract attention. Without spending a fortune, sellers can easily highlight several of their home's features.
First, beat buyers to the punch with a pre-listing home inspection. By discovering and fixing problems before buyers ever see the home, you can impress them with a worry-free, move-in-now opportunity. Leave your repair receipts out during showings, so that buyers can see all the improvements you've made just for them!
Once the mechanical and structural features of your home have been addressed, move on to the aesthetic details. First impressions count, so make sure your home is inviting from the curb. Spiff up landscaping, paint, entries, and windows.
Inside, pay attention to bath and kitchen details, because those rooms are often most important when buyers are making a decision. Aside from deep cleaning, consider updating bath and kitchen features with new and contemporary drawer pulls, faucets, and even sinks.
Finally, get a jump on your moving by organizing your closets and ditching or packing all you possibly can. A good guideline is to reduce your closets to half-full, so that the buyers can easily picture the space for their own storage needs.
A few "preemptive strikes" should be all you need to attract buyers and offers, so ask your agent for tips 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 http://www.WeSellCentralNJ.com.
Have you ever thought of a home as a commodity? A commodity can be defined as a raw material or product that can be bought and sold. A home is not a raw material, but it is certainly built out of many, like a box full of wood, steel, cement, glass and copper.
Over the long term, home prices usually rise along with the cost of the commodities it takes for construction. While high inventories of housing may be keeping prices lower right now, the cost of the raw materials that are intrinsically tied to a home's value are rising, and rapidly.
With increasingly higher construction costs on the horizon, buying now is an ideal investment, and a hedge against the rising cost of commodities. Every home is a store of value for all the materials, the land and the labor involved in its construction. So the long-term value of a home is tightly connected to the cost of its production, making it a very different type of investment from stocks or bonds.
Investing in commodities has always been a great way to make lemonade from the economy's lemons. And what better way to buy into the commodities market than by purchasing a home? Sooner or later, home prices will be pushed higher by the rising cost of raw materials, so make your move now!
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 http://www.WeSellCentralNJ.com.
In areas where home prices have significantly declined, some owners find themselves strapped with mortgages that total more than their home’s value. When options such as extending the term of the loan or negotiating a lower interest rate have been exhausted, then a short sale may provide the solution.
However, short sales are complicated, requiring approval from a number of parties, so you need the representation of a professional to make sure the transaction moves quickly. You can have more than half of the paperwork done before that first offer even comes in.
Most lenders require an application package to be completed by the sellers, including a financial worksheet, as well as a letter of hardship explaining why the owners cannot continue to pay the mortgage. The real estate agent can also help with other aspects of the required paperwork, which should be assembled before the property is listed.
While the bank may be willing in such cases to accept less than the mortgage balance, the buyer's offer must still reflect a fair price under current market conditions, so be sure to consult with an agent in order to arrive at a reasonable price that will be accepted by all parties, including the lender.
Short sales may not be easy, but they do provide an "exit strategy" for homeowners most in need of a solution.
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 http://www.WeSellCentralNJ.com.
If you're planning to go bargain hunting, you are likely to come face to face with a special challenge: the long-vacant home. Many of these properties have been foreclosed, and now rest in the hands of the bank. The owners are long gone.
While the greatest percentage of these "distressed properties" are still in fair to good condition, how can you be sure of possible defects in the home when the previous owners are not available to disclose such facts?
Since the bank-owners and their real estate agent may not know all the details about the previous owners, you would be well-served by ordering a "pre-inspection" if you find an attractive property at a low price. Hire an inspector for a preliminary look, and do not make an offer until you know more.
You can pay just a couple hundred dollars for a brief inspection, money well spent before you submit a bid. Having an idea of the home's true condition can help you determine your offer, or help you make a decision to walk away from the deal, without any obligation.
If the utilities are cut off, ask your representative about getting them turned on during the inspection, which is critical to the inspection's accuracy. Take a careful look at recent sales in the neighborhood, and make your offer armed with knowledge and 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 http://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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