Medford Township, NJ

The $8000.00 Federal Tax Credit for 1st time home buyers has done for the most part what it was suppose to, help boost housing sales in a lack luster housing market. With the expiration date of 11/30/09 on the horizon I am seeing last minute applications from 1st home buyers coming in at an alarming rate. Are we setting proper expectations with their buyers by informing them that due to the amount of incoming loan applications and current processing times, there is a chance that they may not be able to close their 1st time home buyers loan by the deadline...or are we just keeping our fingers crossed that the government will extend or expand this $8000.00 credit. My personal opinion is if the government wants to keep the real-estate market moving in a forward direction they are almost forced to do something otherwise this market will come to a screeching halt. in the past 10 months 65% of my mortgage applications have come from 1st time home buyers,25% from refinance clients and the balance from move up buyers. I am not sure about your area of the country but here in the northeast this has been the trend. In closing my hopes are we will see and extension or revision of the $8000.00 Federal Tax Credit for home buyers.

Yesterday I was speaking with another agent in my office about negotiating, and the topic of silence came up. This is one of the true secrets of success in face to face negotiations. The secret is that after you have stated your case and asked for what you want, Shut Up. I've often read, and seen in practice, that the first one to speak after an offer in made loses. Sometimes I'm amazed at the power of this technique. I was speaking to a potential seller about a property that I was considering purchasing earlier today, and after he stated his asking price I just stayed quite. After a few moments, without me saying a word, he was defending the price, and actually lowered it on the spot. This isn't the first time that I've experienced this, but it still amazes me how this simple technique really works. I think it's often because people are uncomfortable with silence, and most people are uncomfortable negotiating in general. They start talking to try to relieve the tension, and inadvertently they give up more than they had planned.

This technique is more difficult to employ when acting through an agent, but similar tactics can be used. this is one reason why it's important to hire an agent who is well versed in negotiating to represent your best interest. Give me a call if you'd like help negotiating your next purchase or sale.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com

MEDFORD NEWS RELEASE

IMMEDIATE RELEASE

FROM: THE DEPT. OF RECREATION DATE: 7/8/2009

Family Fun Day at Fort Medford Playground on July 18th

On Saturday, July 18^th make plans to join in the fun and also support a wonderful cause by attending the Family Fun Day at Fort Medford Playground located in Bob Meyer Park. The event will take place from 11:00 am until 3:00 pm with all proceeds going to help build the planned 100% handicapped accessible playground addition to Fort Medford.

For the past year dedicated members of the Fort Medford Playground Committee have been working diligently to raise the funds necessary to build this special playground designed for both children and adults with special needs, but also fun for all children of all ages. This addition is to be incorporated with the existing Fort Medford that was built in 1995 with donations and the labor of many volunteers.

The goal of raising the $100,000 needed is now within sight, but $20,000 is still required to begin building the playground, which will be the first of its kind in Burlington County.

The benefit that will be held on Saturday will include fun field games, an All-Star Band line-up including "The Feables" and "UFT," picnic food, face painting, clowns, a multitude of chinese auction gift baskets, and children's games complete with prizes. Your support of this event will help to make the dream of the not only 100% accessible, but also "green" eco-friendly playground, a reality in the very near future.

If you would like to volunteer for the Fun Day, call Dottie Spellman at 609-654-0563. If you like to make a donation, contact Committee Co-Chair Kyle Koszowski at 856-988-1552.

The Fort Medford Playground in Bob Meyer Park is located at 2 Commonwealth Road just off of Gravelly Hollow Road, next to the Township Public Works Facility. In the event of inclement weather, the event will be held on Sunday, July 19th. For additional information, please call the Medford Recreation Department at 609-654-2512.

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***PHOTOS AVAILABLE UPON REQUEST***

CONTACT: Beth A. Portocalis, CPRP, RA, CPSI Director - Medford Recreation Department 17 North Main Street Medford, NJ 08055-2411 PHONE: (609) 654-2512 FAX: (609) 654-6536 E-MAIL: bportocalis@medfordtownship.com WEBSITE: www.medfordtownship.com

As a continuation of yesterday's post, today I'm going to cover the basic things that a home seller should do to prepare for negotiating the sale of their home.

1. First the seller should figure out what their bottom line is. What is the minimum that they would take for the home and still net the amount of money that they truly need. This should always be decided up front because it is when the seller is thinking most rationally , and not yet caught up in the drama of the negotiating process.

2. Then the seller should determine the market value of their home. This should be done with their agent by looking at comparable sales in the area. At this point it is important to set a high, but realistic goal. You don't want to give the home away, but you do want a price that will attract the largest number of potential buyers. Both step one and step two should be done prior to putting the home on the market.

3. Once they receive an offer, the seller should find out as much as possible about the buyer. Are they in a financial position to close on the proposed transaction? Do they have a tight time line due to a move or the sale of their own home? Would they be willing to pay more if the seller financed some of the purchase? Have they fallen in love with the home? The more the seller knows about the buyer, the better the chances of coming to a mutually beneficial agreement.

These are the most basic steps you should take to prepare yourself when selling your home. Check back soon for more tips on negotiating the home-buying/selling process.

If you'd like help negotiating your next home sale or purchase, please feel free to give me a call.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com

As promised, I'm going to spend a little time blogging about negotiating the sale or purchase of a home. I think that the first and most important tip that I can give is to be prepared. I know that this sounds like common sense, but I can't tell you how often I'm involved in negotiations with people who clearly have not done their homework. Let's take a quick look at what the buyer should do to prepare for the negotiating process:

Buyer Negotiation Preparation:

1. The very first thing that a buyer should do is to know what they can afford. This entails getting pre-approved by a reputable mortgage lender. Often times I've seen buyers enter into negotiations on a home that they truly cannot afford, and this is just a waste of everyone's time and effort.

2. The buyer should also educate themselves as to the value of the home in question. The easiest way to do this is to look at the comparable sales in the market place. Occasionally I'll see buyers make an offer on an overpriced home, only to see the transaction fall apart later when the appraisal comes in below the sale price and the buyer can't get enough money from their lender.

3. The buyer should also decide on the maximum price that they would be willing to pay for the property. If this isn't done before the negotiations begin, it is too easy to get carried away and end up paying more than you had planned. How the buyer decided on this price is really up to them. It may be that they want a certain discount to the market, or that they are looking for a specific monthly payment. Whatever the method, it is important to know this up front.

4. The buyer should also know as much as possible about the seller. Has the home been on the market for quite some time, and the seller is desperate? Would the seller be willing to provide financing at a below market rate? Is the closing date more important than the price of the home? Does the seller have reasonable expectations as to the value of their home? It is important to find out the answer to all of these questions and more. The more you know about the seller, the better able you are to produce an offer that is mutually beneficial.

These are the most basic steps for being prepared for the home buying process. I'll address the preparation for the selling side in a future post.

If you'd like help negotiating the purchase of your next home or investment property, please give me a call today.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com