Chris Spada Realtor NJ and Pa Real I BUY HOUSES. Pretty houses to ones in

I was going through the numbers this past week and here is what I had found.

The headline read to the affect of; "Homes Sales Drop 28%" from month to month sales for Sept. 2009 and Sept. 2010. Even though this is an improvement from Aug. 2009 compared with Aug. 2010 when home sale dropped 30% and so on and so on.

So I think; Bad news is good news, right. That's what people get excited about to read.

So, here is the boring "good news".

First for the the selling and buying public; In my local TrensMLS (Tri-State Philadelphia market) those drops are true however, average home sale prices have rose 7.78% in the region. In Camden county homes prices rose .78% and in Mercer County 13.2%. It seems as if home values have hit bottom, interest rate are at an all time low and there is a good inventory to meet everyone's wants.

For the Realtors, the number of agents dropped nationally from approximately from 1.4 million two and a half years ago to 930,000 today. Sales may be down 30% but so is the number of agents.

And there is the boring "good news". Homes values are starting to come back, there are less agents but more professional agents who stayed in the game and we are now in the 1995 market.

Two years of a relatively flat market, three years of a good growth market and three years of an over heated market. Buy now. Sell and buy up in 2013 -2015 and sell in 2017 - 2020. And get ready for another down turn.

Of course, this is just my opinion but we all know; History always repeats itself.

Vacant properties are on the raise in the Philadelphia / Cherry Hill area. That does mean good values for home buyers, however it also means a good time for homeowners to make a move up.

Think, you are a homeowner. You are still OK in this buyer's market with regard to job, income, equity in current home. You want to buy up. You actually need a larger home. It's a buyer's market but, like so many, you feel can't sell your current home for what it was worth in 2006. Now what? Do you stay or do you move up?

I have helped several families through this dilemma. Of course you have finally say but here is what I had help my clients understand and all of them either made or are making the move up.

Current home; 17 yrs. old, 3 bedroom, 1.5 baths, one car garage, no basement, end unit townhouse backs to golf course. 2006 price of you current home was $185,000.00. 2010 price of your current home $147,000.00. Settling 3/5/2010. Perceived $37,000.00 net loss of home equity. Still has approx. $40,000.00 of equity.

Preferred move up home; less then 8 yrs. old, 4 bedroom, 2.5 - 3 full baths, two / three car garage, basement, single family, nice back yard, good schools. 2006 prices$325,000.00 to $425,000.00. 2010 prices $225,000 to $375,000.00. Net reduction approx. $80,000.00 to as much as $175,000.00. These homes always come down more and quicker then the less expensive homes.

In Moorestown I have seen properties priced in 2006 at $1.3 million reduced to as low as $825,000.00.

The ones who can and have the knowledge to make the move up, are the real winners in this buyer's market and most are moving in with lower interest rates then they had on their first home.

For the best values in the Philadelphia and Cherry Hill markets call today. Call now for a complete list of vacant / foreclosed homes. Call or email now.

Equity Stripping....Sellers / buyers / investors beware.

This past Thursday I had one of my Associates ask me to join her in a seller consultation. Of course, that I what I do for our Associates.

Now see if you can follow this; The now seller/investor was approached by a "Property Management Company" as a potential buyer for an investment property one year ago. Buyer/investor was told how everyone is going to help a homeowner to stay in their home, not loose the home to foreclosure and you (the buyer/investor) are going to be a hero, if we can just use you credit to secure a loan.

The buyer/investor was told buyer/investor would receive $8,000.00 after closing, the PMC would handle all details of property, including paying the mortgage, there is no downside and all the paperwork is being handled by an attoney, so you know it's a good and legal deal. The buyer/investor bought.

The seller side; seller behind on mortgage, over a 130K in equity and distraught. PMC comes in and presents this to seller; We'll buy your home. We'll let you stay in your home rent free for a year. We'll let you buy back your property after you get everything together, income, credit etc. The buy back price will be current market value, but you will save you credit, have no rent for a year and save your home from foreclosure.

At closing the buyer/investor bought with no money down, the seller netted $5,000.00 and the PMC put $133,000 in their account, then paid buyer/investor $8,000.00.

One year later; PMC owners (three) are no were to be found. PMC is out of business. PMC was never licensed by state to manage property.

Now owner/investor has to pay mortgage and can not. Will be one month behind March 1st. .

Now tenant, has now been served an eviction notice for not paying rent. In addition; both the Seller/now tenant and PMC had attorneys, the buyer/investor, now owner, did not.

Advise; To public; Call me before you make any move that sounds to good to be true or for a second opinion on any matter on RE or get your own attorney.

Advise to the current investor/seller: Secure the services of an attorney, report to Attorney General of NJ.

Our action as a Real Estate Company at this time, we could not render any further advise or help to now investor/seller. We did not list the property.

Buyers buy now. Sellers if you want or need to sell, sell now. Banks liquidate now. Realtors get retrained and get to work now. You will win big if you do. Had a sales meeting today with my associates. Asked who knows how many closings took place in Cherry Hill, New Jersey for last six months and average price? Answers ran from110 with the part timers, on up to 120, 190, 310....pulled the data from TrendMLS. 359 single family home sales. Then I explained that is actually X's2. Seller side and buyer side. So, actually 718 sides in one township. Granted one of the larger townships. Average price close to $253,000. They some in the group's reaction was from surprised to very surprised. Then I lay-ed into the "community" that shares the "gloom and doom" mentality for the excuse of not working.

Went a bit further, pulled data from 1/1/2007 till 6/30/2007. The best seller's market for the last economic expansion of the "Roaring 2000's". Care to take a guess of the number of sales of single family homes?

503 x 2. Ok. 29% drop. and an approx. drop in price of 13%. It's my belief that, about the same percentage Realtors left the market. So, just as much business for the workers of our industry. I have several associates who have earned more in 2009. Yes, they changed their direction. Yes, they put more hours in the close title. Yes, they had to get retrained for this market.

Our theme for our meeting; "2010; THE MAKE IT OR BREAK IT YEAR", FOR I KNOW THIS TO BE TRUE. Those who adjust, maneuver, face their fears and get to work will be the premier Realtors for the next economic cycle. 2010 - 2011 will be the bottom out years. 2012- 2014 will be the stabilization years. 2014.5 - 2019 will be the next pricing boom. 2019.5-2020 will be the next correction. Plan for this cycle. Be cash heavy in 2019 and buy in 2022-2025. Of course this is just my opinion from details observations.

Camden County End Unit Townhouse, Backs to Golf Course

Relocation Sale. End unit townhouse in very good condition.

This is a model condition home that backs to a golf course. How many properties do you know that have such a view. Pay very low property taxes and enjoy a $500,000.00 view. To view more details on this property veiw virtual brouchure. I have several properties like this ranging from $165,000 to $650,000. Call / email for a complete list. Some are vacant, bank owned, relocation sale, such as this one. We are very aggressive negotiators and marketers.

Gloucester Township home for sale.