The question on everyone's lips is, "When are things going to return to normal in real estate?" Well, if the "normal" being referred to is the conditions and shady financial dealings that created the artificially inflated markets of five years ago, then we need to be thinking about redefining “normal.”

The bad lending practices of the past are indeed making it more difficult now to secure financing, but try to understand that's not necessarily a bad thing. Those days of lower standards and easy money led us into this predicament in the first place. It's good for housing and for the economy when banks become interested in whether loans will be repaid.

In the “new” normal, home prices will stabilize, the number of sales will start gaining, and more people will again realize the benefits that homeownership offers, for both personal and financial security. With historically low interest rates, affordable prices, government incentives, and motivated sellers, the housing market is already experiencing the initial signs of recovery.

All of these factors combine to get first-time buyers excited about a purchase. As these consumers enter the market, they will trigger other purchases, and the chain of transactions grows. Expect your real estate representative to reveal a wide range of affordable choices and guide you toward securing the financing you need to make your dream come true.

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 www.WeSellCentralNJ.com.

After you've taken step one to decide to sell your home, step two is usually setting your asking price, striving for a balance between generating offers and receiving top dollar.

We will perform a Competitive Market Analysis (CMA) to produce an estimate of your home's "fair market value," or that price that educated buyers will pay based on listings and sales of homes similar to yours. We will not establish the price, but only provide the information you need to make that decision yourself.

In a hot market, you have the advantage, but would still want to avoid overpricing, which is always unproductive. However, in a neutral or buyers market, you'll have to be particularly cautious in your approach to setting a price.

In soft markets, price reductions become more common, as well as fewer offers and longer listing periods. You have to first establish your priority: is it more important for you to sell quickly or to get the most money possible? Like it or not, one option simply must be more critical than the other.

Have a third party, like your listing agent, help you see your home as a commodity, with positive and negative selling points. Price your home objectively and competitively, be prepared to negotiate to reach an agreement with buyers, and exercise patience as you prepare your move.

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 www.WeSellCentralNJ.com.

If you own or plan to purchase a home, then you know that insurance is not just a luxury, it’s a requirement. While you should not skimp on certain coverage items, there are some steps you can take to reduce your overall premium.

If you have a security system installed (and operating!), you might lower your premium by 5% or more. You'll just need to provide your insurer with a copy of your contract or latest statement. Also, while newer homes have smoke alarms already installed, hooking them up in an older home might also reduce your premium by as much as 10%.

Just like health or auto insurance, if you increase your deductible on homeowners insurance, you'll reduce your premium. Just be sure you're prepared to pocket smaller repairs like broken windows or damages from leaks.

If your policy is held by a company that also offers auto or health insurance, look into discounts for multiple policies. You could save a percentage on both your homeowners and auto policies, for example.

Another money (and time and stress) saver is to document everything in your home with a photographic inventory. Store photos, cds or videos in a fireproof box or, preferably, a safe deposit box off site. This will reduce the time and effort required to complete a claim, and guarantee an accurate replacement payment.

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 www.WeSellCentralNJ.com.

When a homeowner faces default on their mortgage, there may be two options: foreclosure or short sale. Foreclosure can be devastating, both emotionally and financially. A short sale, or one in which the lender accepts a selling price less than the amount owed, is a better option for both the lender and the homeowner.

Regrettably, nearly seven out of ten homeowners proceed through foreclosure without ever listing their home for sale. This is due largely to perceived myths about the process, and we need to put a few of these misconceptions to rest.

First, homeowners assume the bank would rather foreclose than accept a short sale. Not true - foreclosure is often more costly for the lender, and short sales often sell for more than foreclosed listings. The banks are trying anything possible, within reason, to avoid the foreclosure process.

Next, homeowners believe there is a stigma attached to short sale listings, and that buyers have no interest in such properties. Not true - to the contrary, many smart buyers are specifically seeking out such offerings for the value they present compared to traditional listings.

Finally, homeowners often assume that there's not enough time to close a short sale before foreclosure is final. Not true - foreclosure is a lengthy process and there is time to negotiate a better result, but you need to start 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 www.WeSellCentralNJ.com.

An article appeared recently in the New York Times that beautifully illustrates the opportunities today's real estate market offers. A mother working two jobs saved up for a downpayment and managed to buy a large home with a pool for $187,000. Three years ago, that same home had sold for $370,000!

While sellers are still feeling pressure, buyers with stable incomes and good credit histories are beginning to spread a "feel good" vibe throughout the industry. Conditions have literally never been better for first-time buyers. Affordability has seldom been higher and interest rates have hardly been lower. Selection of inventory is vast, and sellers are highly motivated.

As more buyers enter the marketplace, the ripple effect will be felt far and wide. When they purchase a highly affordable foreclosure or "short sale," they have removed a distressed property from the listings, improving values for other homes in the area. When they buy a "traditional" listing, that in turn sets off a chain reaction whereby the sellers in turn will purchase another home, from sellers who will in turn buy another home, and so on and so on.

You probably get the picture now. As we approach some stability in real estate, all indications are that prices will begin rising again. As the market approaches recovery, don't miss your opportunity for the buy of a lifetime!

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 www.WeSellCentralNJ.com.

Getting ready for a big move? You can't begin preparing too soon, because the average move takes over 200 hours! Count on us to provide advice and guidance during this seemingly monumental task.

Your first decision is whether to hire a moving company, or rent a moving van and ask friends and family for help. If you're using the pros, solicit quotes from several local companies who can visit your home and offer an accurate quote.

Next, begin sorting piles of items you'll want to sell in yard sales, donate to charities, or haul to the landfill. This is a great opportunity to give back to the community, and make a few bucks on the pieces you'll sell. Anything you eliminate now will lower moving costs later.

DO create an inventory of your belongings, in case you need to file an insurance claim for lost or damaged goods. Allow the professionals to do your packing, because if you don't, those items that you wrap and pack won't be covered by the mover's insurance policy.

Finally, invest in additional insurance with the movers and storage facility, if needed. It only costs about $10 for every $1,000 in high value items, so it's worth it for your peace of mind. Ask us for more details to make your move as stress-free as possible.

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 www.WeSellCentralNJ.com.

Be sure to check out our newly updated list of bank-owned and foreclosed homes throughout Ocean and Monmouth counties! The list is finally starting to thin out, so if you're looking for a deal, click here and take a look before it's too late!!!

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 www.WeSellCentralNJ.com.

Whether buying or selling a home, the Offer To Purchase is the starting point for making the sale go through. If the sellers do not accept the offer outright, they may make a counter-offer, which the buyers may likewise accept or counter again.

In the interest of speed and success, it's best to keep counter-offers to a minimum. If you are trying to sell with urgency (and who isn't?), weigh the buyers' offer against your need to move quickly. Perhaps the value of the concession is quite small against the profit you'll see upon a sale.

If you are asking $200,000 and receive an offer of $196,000, that's equivalent to just 2% less, which is like offering $.98 instead of $1. Similarly, buyers must also be realistic about the possible costs of "over negotiating" in today's rapidly changing economic atmosphere.

If you balk at the sellers' counter-offer now, and decide to walk away and begin your home search over again, you could be facing higher interest rates and/or rising home prices. Today, time literally is money, and the longer you postpone your purchase, the more it will likely cost you.

Before making (or accepting) an offer, discuss the offer and counter-offer process with your representative, so that you know what to expect and can be more prepared to see the deal to a successful close.

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 www.WeSellCentralNJ.com.

If you've found the right home, how can you be certain you aren’t paying too much? Once you make your choice, it's quite likely you've also become well informed about property values. How is this so? Because before you made that choice, you probably looked at a variety of homes, possibly as many as six to twelve properties. That's called “comparison shopping.”

As you visited each home, you made value judgments based on size, features and amenities offered, as well as condition of the homes. Without realizing it, you compared prices, looking for the greatest value for your dollar.

Nevertheless, another aspect of your purchase further protects you from purchasing an overpriced home. Called an “appraisal,” it's a required step in the mortgage approval process. Your mortgage lender, who is putting up the majority share of the purchase price, also wants to be sure the home is not priced above the market.

Thus, the lender asks a licensed appraiser to determine the home's value for the record. If the appraised value does not at least meet the purchase price, the lender may not approve the loan or, at the very least, may ask for a higher down payment.

As the buyer, however, it's easy to spot the overpriced homes. They are the ones that have been on the market for some time - but remain unsold.

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 www.WeSellCentralNJ.com.

Only 81 days left to take advantage of the $8000 homebuyer tax credit! You must close escrow on (buy) a home no later than November 30, 2009.  Offer to closing escrow on most homes takes at least 30-45 days and in many cases even longer.

Good news on mortgages! Interest rates have recently taken a dip back down to the low 5% range. Don't expect rates to stay low for much longer. The government has been keeping interest rates artificially low in an effort to stabilize the housing market. Once this practice comes to an end, many see rates going to 6.5-7% in a hurry.

Great deals, low interest rates, and an $8000 tax credit have driven home affordability rates to their highest levels in decades.  For many people buying is cheaper than renting, not to mention the tax benefits. 

Buying a home is not for everyone. However, if you are thinking about buying a home, give us a call, 732-364-7434, or email us, Info@WeSellCentralNJ.com. We are happy to go over the different options available and give you the information you need to make a smart decision.

If you would like to take a peak at any of the homes on the list, or a house you have your eye on, give us a call!

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 www.WeSellCentralNJ.com.