I received a question last week on a consumer real estate information website, and it hit home that some people are still at a loss as to where to turn to find a good Pennsauken, NJ Realtor. Sometimes, they are not actually asking the right question.

For example, recently a home seller wanted to know who has sold the most homes in Pennsauken. They were looking to have a good sales experience.

Here's my answer to that query, for which I received a "thumbs up" best answer of all the answers given by Realtors who responded. Maybe it will help you in deciding how to choose a Pennsauken Realtor, or a Realtor to sell your home in your town!

Hi Annie,
I certainly understand your trepidation with regard to choosing the right agent. I would suggest however, that the "who has sold the most" approach may not be the best approach. Numbers can be skewed and massaged many different ways to look like something that they're not. Interview at least three agents. Make sure that they present a marketing plan that fits your needs and incorporates all the strategies that are important to you. Determine during the interview if they have a communication style that matches yours, and make sure they have a plan for keeping you informed during the process. Annie, I started my career at the RE/MAX office in Pennsauken and thus have sold countless homes in Pennsauken, and if you search Pennsauken Real Estate agents on google, you'll find me...but I may not be a good fit for YOU. So anyone that tells you they're the right agent just because they've sold a lot of homes or because their agency has sold a lot of homes, I think, is missing the point. It's about the intangibles as much as the end result: integrity, service, rapport, communication, AND results.

It has been my pleasure to respond to your inquiry.

Best wishes in your search for the right agent for you.

Kind Regards,
Kimberly Thomas http://www.NJHomesNearPhilly.com

Web Reference: http://www.njhomesnearphilly.com

If YOU need a Pennsauken or Camden County Realtor, please give me a call! I'm here to help.

See you out there in the real estate landscape!

Kim

Here's a good question from a local real estate participant in Pennsauken, NJ 08109 zip code, but it applies to anyone listing or buying real estate in NJ...

"Concerning the ethical rules of a listing agent... is it legitimate for them to tell a prospective buyer that the seller declined a prior offer?," the homebuyer asked. She went on to say, "Specifically, would it be proper for them to tell that prospective buyer that the seller was offered X but declined so that if they want the property they need to offer higher? This, before anything is even in writing?

Here's my answer for which I received a "Best Answer" thumbs up! Hope you find the information helpful!

BEST ANSWER

Hi Annie,

I'm going to speak about NJ because you are in NJ. In NJ it is NOT ethical for the listing agent to reveal anything to the buyer or buyer's agent without the express permission of the seller. This is an ethics violation. Please read the Consumer Information Statement that your listing agent should have provided you.
So if the seller says to the listing agent. "I know my house is listed at 200k, but I'll take 190k and not a penny less" it is not ethical for the listing agent to divulge that without first asking the seller. If you're a seller, you have very valid reasons for guarding your motivations to sell. Why? The buyer's agent, if they're good, will try to ascertain the reason for selling, share that with the buyer and this may result in a lower offer to the seller. This is one reason I counsel my sellers to leave the home, if possible, during showings -- I caution them that if they must stay, they should not get into any casual conversation with the buyer's agent wherein they might divulge something that will weaken their negotiating position.

Even if my seller tells me, "You can tell them I won't take any offer lower than "x"; I will still counsel my seller that "You may not want me to say that. Why? Because then all they'll offer is "x" when maybe you could've gotten "x+5,000". Take it from me, someone who used to work in the cutthroat world of Manhatten's major-label music industry, It's best not to say anything and just let the negotiations play out and see where they lead. Remember, in negotiations, he who blinks first, or breaks the silence, usually loses -- so why would you want to start off giving the other party ANY information???

I hope that this answers your question!

Best Wishes to you, Annie!
Kim

GOT QUESTIONS ABOUT PENNSAUKEN, NJ REAL ESTATE IN 08109 OR 08110? GIVE ME A CALL! I'M HERE TO HELP!

Kimberly Thomas, Broker-Associate
Realty Executives Brown & Pope
856-308-5989 http://www.kimcanhelp.com

Web Reference: http://www.NJHomesNearPhilly.com

I watch for questions on a consumer-focused website and answer those that I find compelling. This question asked today breaks my heart, and unfortunately many folks are finding themselves in the same dire straits as the Mullica Hill home buyers who asked it.

Here's the transcript of their question and my answer. If you have additional feedback, or have experience with this scenario, I'd love to get your input as well.

"We are having a new home built and recently found out that the builder has filed for bankruptcy. We did make a deposit but they have not started building yet. I am very skeptical and want to cancel the contract and get my deposit back. My husband is more optimistic and is williling to work with the situation. Any advice?"

Dear Ca,
I have not had an opportunity to read all of the other responses but here's my two cents:

RUN!!! If you can get the deposit back, get it and immediately cancel the contract. But I doubt they'll return it.

Frankly, if they've already filed for bankruptcy they are not allowed and not required to give you the deposit back as they have to account for all funds and cannot disperse to some creditors but not others; they're not required because bankruptcy gives them protection from their creditors - YOU - until a court-appointed trustee works out a plan. You'd have to file a proof of claim and get in line.

My guess is that they sense your husband's willingness to continue and may be preying on that -sorry I'm a realist and a bit jaded from what I've seen people go through recently with banks and builders in the last couple of years.

My suggestions:
1. File a complaint with the NJ State Attorney General's office to get the help of consumer protection agents. Chadd Lackey, Esq. is a friend, and an attorney there. You can tell him Kim Thomas told you to call and he will help you or point you in the right direction;

2.. Get your own attorney, like YESTERDAY!

3. Start a paper trail. It is very important that you send a demand letter, in writing and by certified mail, to the builder with any demand you may have -- to get your contract canceled, to get your deposit back, etc.

4. Click on the link below in web references to an attorney's answers to others who found themselves in the same situation as you now face.

Standard disclaimer: I am not an attorney and nothing I've said in this response should be interpreted as legal advice. it is general information and you should contact an attorney of your choice as soon as possible.

Thanks for the opportunity to assist you!

Kim

Kimberly Thomas, Broker
Realty Executives, Brown & Pope
1101 Laurel Oak Rd. Ste. 110
Voorhees, NJ 08043 http://www.KimThomasHomes.com
Read my blog at: http://www.ActiveRain.com/voorheesbroker

There are a lot of financing options to help you buy Collingswood real estate, if you can meet the credit guidelines.

Most lenders prefer to use 30-year mortgage loans. With a longer loan term, the lender can collect more money in interest over the life of the loan. For those who are credit-worthy, a 15-year mortgage term may be offered. So, what is the difference between the two? Here are a few guidelines:

What About a 30-Year Mortgage?

Thirty-year mortgages are becoming the normal term for Collingswood real estate loans. The payments are usually more affordable and lenders are quick to recommend them. Lenders are more likely to offer you a higher loan amount with a 30-year loan, but the trade off is usually a higher interest rate.

What Are The Benefits Of A 15-Year Mortgage?

Signing up for a 15-year mortgage can save you a lot of money in interest payments. True, your monthly payments will be higher than with a 30-year loan, but the impact on your long-term finances may be worth it.

After just 16 years, you can start investing the money that you're no longer spending on your mortgage into other real estate properties or investment opportunities. You can build your investment portfolio with just the money you would've spent on your monthly mortgage payment.

What about Prepayments?

Even if you do decide to take out a 30-year loan, you can still have some of the same benefits of the 15-year loan. By making prepayments, you can take years off a 30-year loan and still have the freedom of making smaller monthly payments, if you need to. Before finalizing your decision, ask your lender if there are any penalties for making prepayments.

A 15-year mortgage is usually the better financial decision, because you can save thousands of dollars over the life of the loan. The interest on a loan may be halved by choosing a 15-year loan.

No matter how you choose to finance your Collingswood real estate, I can help you find the home that meets your needs and budget.

Call me today at 856-308-5989 or email me at kim@kimcanhelp.com for more information.

Visit me on the web: www.KimThomasHomes.com

Follow me: www.twitter.com/kimthomashomes

Tips & Hints From the National Association of Realtors:

1. Know about exclusions to coverage. For example, most insurance policies do not cover flood or earthquake damage as a standard item. These types of coverage must be bought separately.

2. Know about dollar limitations on claims. Even if you are covered for a risk, there may be a limit on how much the insurer will pay. For example, many policies limit the amount paid for stolen jewelry unless items are insured separately.

3. Know the replacement cost. If your home is destroyed you'll receive money to replace it only to the maximum of your coverage, so be sure your insurance is sufficient. This means that if your home is insured for $150,000 and it costs $180,000 to replace it, you'll only receive $150,000.

4. Know the actual cash value. If you chose not to replace your home when it's destroyed, you'll receive replacement cost, less depreciation. This is called actual cash value.

5. Know the liability. Generally your homeowner's insurance covers you for accidents that happen to other people on your property, including medical care, court costs, and awards by the court. However, there is usually an upper limit to the amount of coverage provided. Be sure that it's sufficient if you have significant assets.

www.KimThomasHomes.com 856-308-5989

For more information on homeowner' s insurance, check out my good friends at M&C Insurance Agency, Inc. They're licensed in NJ,PA & DE and are eager to help! www.MandCinsurance.com 856-486-0077