Dawn Marie White, Broker-Office Manager

Did you know...?

You're probably well aware of your cholesterol ratio, your blood sugar level and your heart rate-but do you understand the significance of your local "absorption rate"?

In real estate, "absorption rate" (AR) is the supply/demand ratio that estimates the length of time it takes to sell a home in a given area (5 to 6 months in a stable market).

According to the Monmouth/Ocean MLS As of 10/1/09, 4111 homes were on the market in Ocean County, and the sale of 349 homes in September brought the current Absorption Rate to 11.7 months. (Reliable appraisers predict that homes will continue depreciating at approx. 1/2% per month until the AR reaches 5 - 6 months.)

The outlook is improving, though, as the Monmouth/Ocean MLS reported that 811 homes went "under contract" in September. If they all closed in October, and no other homes entered the market, there might be a plus-5 month inventory for November which would be a great improvement, but in my opinion, we will likely fall short of that goal.

Absorption rate can be broken down specifically for the township or neighborhood in which you reside. Giving you an informed edge when pricing your home. This data is also very useful to a buyer. A good buyers agent can guide as to weather a specific neighborhood is selling better than another providing a true and full picture of local activity.

The Ocean County market is moving toward full recovery, but the road may be long and hard if inventory and prices remain high. If you decide to sell your house, price it wisely by consulting your Realtor® about the number of homes available in your community.

Have a safe and happy Halloween,

Dawn Marie White, Broker/Office Manager

Crossroads Realty Inc

Tree clearing is already underway for the new Quick Chek that's about to be built at Routes 70 & 571! Marianne Borthwick, planning board secretary, said "Manchester Township is working closely with Quick Chek so they can meet their desired deadlines." To speed progress, the township permitted tree clearing in advance of satisfying resolution compliance items and the finalizing of access driveway details with the approved, adjoining strip center. The board engineer, Mr. Vodakis of T&M Associates, is working with Quick Chek and the adjacent property owners to ensure safe traffic access across both properties. James Vaccaro, the planning board president, said "Quick Chek is anxious to have this location open and has set a target for completion for the end of November." By offering local consumers a six-pump gas station and daily fresh food and coffee in a pleasant, landscaped site, Quick Chek will bring both beauty and welcome convenience to the area.

Dawn Marie White

Broker/Office Manager

Crossroads Realty,

A beautiful day yesterday in Point Pleasant Beach brought the crowds out in droves, The agents and I had a wonderful day speaking with people from all over about the real estate market . I personally had the opportunity to speak with people from Virginia, New York, Florida, and Washington. The interesting common conversation was the market and our recovery. Many people voiced their concerns about the stimulus package that is going to expire in November.

Knowing the 100 year history of real estate, the statement "first time home buyers drive the market" will continue to stand true.

If the powers that be believe history repeating itself in 7 year cycles then they will act on a new bill soon.

I want to thank all who visited our booth yesterday and tell you all that the agents and I look forward to working with all of you to assist in your real estate needs The consumer is our priority, and our dedication to providing excellence in our field will continue to be in the for front of our professional careers.

Our first and second prize winners will be picked from the hat tomorrow Monday September 21st. Good luck to all that entered .

Our representatives in New Jersey need to hear for all of us concerning a new stimulas that will replace the soon to expire one The following link will provide you with a list of New Jersey representatives as well as a link to find other state reps for my out of New Jersey readers.. Our economy is not yet out the woods, jobs need to be created and people need to get back to work..... Let your voice be heard...

http://directory.usayfoundation.org/NJ.html

Best of luck and God Bless,

Dawn Marie White~ Broker-Manager ~ Crossroads Realty Inc

732-581-9414 Cell Direct 732-657-1300 Office ~

dawnmariewhite@gmail.com ~www.njwaterfront.com

Saturday Sept 19, 2009 9am to 7pm. Join Crossroads Realty and myself for a fun filled day on Arnold Ave in Point Pleasant Beach, Great food, beautiful crafts, wine tasting from 20 different winery's/vendors, $20 lets you try them all.

In addition to the food there are hundreds of craft vendors featuring handmade items. For entertainment, there is a stage set up on the corner of Arnold and River Avenues that plays host to local musicians and other acts.

The Elk's club uses their outdoor grounds to provide even more food and a beer garden. The money made at the Elk's area goes to the club. They use these funds to provide items for handicapped children.

Crossroads Realty will be located near the Bank of America Corporate center. visit our area to enter for a Gift basket drawing, pick up a few free give-a-ways, and Ask your local professionals your real estate questions on site.

The festival is in the shopping district between Rt 35 South and Rt. 35 North and goes all the way down to the Point Pleasant Boro border

We look forward to seeing you there.

Beginning in September of 1975 as an end of summer gathering, the festival has grown in to a major event for Point Pleasant Beach.

Dawn Marie White

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The new code of ethics has taken the relationship away from the Appraiser and the mortgage representative. This practice is no longer acceptable and the appraiser may rely more on the realtor from this point forward.

Make sure the home your going to buy is going to appraise.

Buyer's make sure your agent is completing a buyer's market analysis when you're making an offer. Ask your agent to research closed comparable sales in the immediate area to support your offer.

Bank owned properties, Short sales and Appraisals

If you're a buyer who has time and are considering making an offer on a bank owned or short sale property. Don't think the bank is going to take much less than the exact house that sold around the corner for $250,000 last month.

Short Sales and Bank Owned Properties are on everyone's hit list, but you should know that those words alone create a sense of "We can steel it savings", this is understandable. However the bank is still going to hire an appraiser and offer to sell it at fair market value based on closed sales data.

Market Prediction...

According to Steve Harney National Speaker and Industry Leader The market is still cycling. There will be a second wave of foreclosures, interests' rates will rise, inventory will again decrease and prices will remain for an undetermined period of time. 2010-2011 is the current prediction.

Quick Tips

Take advantage of prices now. History shows they will rise again.

Research the last real estate rise in the neighborhood you are considering.

Be creative when negotiating.

Be smart in your decisions. Family needs, Financing, Neighborhood, Schools, Taxes, and Community Services.

Consult a real estate professional who will provide the information you need to make an informed investment decision.

Dawn Marie White

Broker-Manager

Crossroads Realty Inc

732-581-9414 Cell 732-657-1300 Office

dawnmariewhite@gmail.com www.njwaterfront.com