Finally some good news on the horizon! Fortune Magazine's Editor-At-Large, Shawn Tully, published an article that explains today's market, how we got here, and where it's going. In a nutshell, NOW is the time to buy because the market is in a state of correction and before too long, prices will again begin to rise.

As he states in his article, "Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing."

While the market value of homes across the nation are still very low compared to that of a few years ago, and rates are at an all time low, the time for people who have been thinking about home-ownership has come. He has the facts and figures in the article; prices of homes will be rising, so the smart thing to do would be to "get off the fence" and get the great deal on that home you've wanted before it's too late. Check out the article for details!! You can find it here.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Sales Associate

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Sales Associate, Weichert Realtors, directly at 732-904-3236, via email at Mike@MSinton.com or on the web at www.MichaelSinton.com.

NEWS RELEASE: 2/22/2001

As consumers continue to grow accustomed to performing tasks online, the Internet has become a central part of the homebuying process. In fact, according to a 2010 National Association of Realtors survey, 89 percent of homebuyers used the Internet during their home search. In response, Weichert, Realtors' customer website Weichert.com has elevated its presentce to accomodate this evloution in consumer behavior.

Indicative of it's value to consumers, Weichert.com had more than 32 million visits in 2010. In addition, it consistently ranks as a top site among all real estate companies for the length of time that visitors spend at the site, according to Hitwise, which monitors the activity of major websites.

In recent weeks, Hitwise ranked Weichert.com as one of the three broker websites in the country, as well as a top 10 for-sale real estate website. WEichert.com was also recently recognized with two awards for website excellence. One of the most highly trafficked websites in the industry, Weichert.com received more than 446 million page views in 2010, and year-to-date traffic to the site is up 51 percent over last year.

"The mission to keep Weichert.com on the forefront of innovation remains as strong as ever," said Mike Montsko, president of Weichert Lead Network, the internet marketing arm for Weichert, Realtors. "We are encouraged by our recent accomplishments and will continue working to make Weichert.com a comprehensive and preferred online destination for home buyers and sellers."

Weichert has nearly 18,000 sales associates in approximately 500 company-owned and franchised sales offices in key markets throughout the United States. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Sales Associate, Weichert Realtors, directly at 732-904-3236, via email at Mike@MSinton.com.

Apparently there is a misconception out there that your credit score is just that; a basis of how you handle your credit, pay your bills, and your effort to stay on top of things. With this new economy that we've been thrust unwillingly into, that has apparently changed. It's not more-or-less a ranking of how you fit in with the ever-changing credit scores of the general population. The actual quote from a financial article is, "Your credit score is not a rating of your credit worthiness, but rather a ranking of your credit worthiness compared to the rest of the U.S. population at a specific point in time." Seem fair? Didn't think so. Read on...

The way that this article explains it, you can have a perfect credit score of lets say 760. If the general public (at a specific measured point in time) end up paying bills faster than you do (even if you're on time!), your score will drop, even though you haven't changed anything in your habits or spending. Conversely, if the public slips up a bit and falls behind in their payments, your score goes up as long as you haven't fallen behind yourself.

As they said it, "having a high credit score is still very important in getting the best mortgage rate, and you should be guided by the factors that make up your credit score. But, since you are ranked against the rest of the population and financial conditions also impact credit worthiness, improving your credit score is not always within your control."

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Sales Associate, Weichert Realtors, directly at 732-904-3236, via email at Mike@MSinton.com.

Looks like prices have not stopped falling in many areas of the country, although rates started to rise a bit. If you're in the market for a home, now is the time to get off the fence and make a move!! Check out this article for details.

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Sales Associate, Weichert Realtors, directly at 732-904-3236, via email at Mike@MSinton.com.

As you search and tour homes that appeal to you, how can you be sure that the asking prices are in line with current values? Begin by asking your real estate agent to collect comparables and prepare a Comparative Market Analysis (CMA). This report indicates market trends by showing whether similar homes in the area are selling for above or below the asking price of the home(s) you've selected.

Using the comparables that your agent researched, you'll be able to figure the average cost per square foot for the area, and determine if the home you want compares favorably with those figures. Total the square footage of several homes and divide by the number of homes to get an average. Total the "sold" prices of each home and divide by the number of homes to get an average selling price.

Now, divide that average selling price by the average square footage to produce the average price per square foot for homes in the area. When you multiply that average price per square foot by the square footage of the home you want, you'll discover how your choice compares, and then you'll know if you're looking at a fair price.

Other factors like the seller's motivation or urgency may also affect your offer, so talk to your agent about that CMA and take the next step!

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Sales Associate, Weichert Realtors, directly at 732-904-3236, via email at Mike@MSinton.com.

Due to recent government incentives, short sales are becoming the darling of the distressed-property marketplace. A short sale keeps owners out of foreclosure, because the lenders allow the homeowners to sell their house for less than they owe.

Banks have really sped up the process, hiring large numbers to serve the short sale specialty. In early 2010, one of the very largest banks had more than doubled the number of short sales it approved, sometimes as quickly as 24 days. Compare that to last year, when short sales stalled indefinitely or took more than six months to complete.

The biggest roadblock to approval was often a second mortgage held by the seller. Since the primary lender must be paid first, the second lien holder could be left with nothing, and they would basically kill the sale. But now the Home Affordable Foreclosure Alternatives (HAFA) program provides money to primary lenders who share the proceeds with the second lien holders. HAFA also provides up to $6,000 to those secondary lenders if they release their claim.

Short sales keep borrowers out of foreclosure and reduce the impact on their credit. While foreclosure can shave 200 points off your score, the penalty for a short sale is only half of that. Hopefully, a boom in short sales will also bring us closer to ending the ongoing foreclosure crisis.

Michael Sinton, CRB, CRS, SFR, e-Pro
Broker/Salesperson

For more information, contact Michael Sinton, CRB, CRS, SFR, e-Pro, Broker/Sales Associate, Weichert Realtors, directly at 732-904-3236, via email at Mike@MSinton.com.