Michael's Blog

First Impression Counts: Maintaining Landscaping in a Drought

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 23 Jul 2012 06:09:38 -0700

According to the National Drought Mitigation Center, drought conditions of moderate severity or worse exist in 53 percent of the United States, and there is little relief in sight. Whether you are environmentally conscious or must abide by community-imposed watering restrictions, most homeowners will need to limit the amount of water used to maintain their landscaping this summer. If you are selling your home and seeking to preserve curb appeal, this can be difficult.

Here are some tips from HouseLogic contributor Lisa Kaplan Gordon to keep your trees and plants alive even despite water restrictions:

•Move containers into the shade or bring them indoors.

•Collect “greywater” from your shower, bath or kitchen sink and use it to water perennials, annuals and container plants. If you use greywater, make sure to use biodegradable bath and dish soap, which won’t hurt plants, and never use greywater that contains bleach.

•Replace high-maintenance plants with native plants better suited to your climate.

•Don’t over-mulch around shrubs and tree trunks. If you use more than two to three inches of mulch, roots will grow up and into the mulch, becoming more vulnerable to heat.

•Even bulbs can die under extreme heat. You can protect bulbs by covering them with three to four inches of airy mulch, such as cedar, which holds moisture and moderates soil temperature.

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.

Positive Signs!

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Wed, 18 Jul 2012 07:28:07 -0700

Weichert Financial Services has recently rolled out the 203(k) Renovation Loan Program that allows Weichert Sales Associates the ability to expand inventory choices for homebuyers and help them more easily customize a home specifically to their needs.*

The 203(k) Renovation Loan Program is perfect for customers looking to turn a house into a dream home or buy a home that’s in the right area to renovate; add/increase the size of bedrooms, bathrooms, kitchens and other living space; replace/upgrade the flooring, fixtures, bathroom, kitchen, appliances, heating, septic, plumbing and electrical systems; use low-cost financing to replace the aging roof, exterior, windows and doors; and/or renovate and earn equity.

In other (awesome) industry news, “The housing bust is over,” proclaims a reporter from the Wall Street Journal in a recent article. As support for this great news, the journalist cites statistics from across all areas of the real estate industry and a new Wall Street Journal survey in which 44 out of 47 economic forecasters said they believe the housing market has reached its bottom. So while mortgage rates still remain at record lows, this is a great time to buy a first home or make the move up to a larger one!

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.

*Available for properties in Conn., D.C., Maine, Md., Mass. N.J., N.Y., Pa. and R.I.

Affordability is the Talk of the Town!

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 02 Apr 2012 07:33:48 -0700

I am not sure if you heard, but the National Association of Realtors recently reported that its Housing Affordability Index reached a record high of 206.1 in January. This was the first month since the index began in 1970 that it has hit or surpassed 200.

To put it in perspective, houses are more affordable now than at any point in the last 42 years! What’s more, an index of 100 represents a median-income-earning family’s ability to exactly afford a median-priced, existing single-family home. Housing affordability is now double that.

Right now, all of these conditions are favorable for you if you're in the market to purcahse a home. But, as the economy continues to recover, home prices and mortgage rates are expected to rise, making homes less affordable.

There’s never been a better time to buy!

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.

22 Sherwood Court, Jackson NJ Open House Sunday 6/5/11 1-4pm

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Thu, 02 Jun 2011 08:33:06 -0700

This mint-condition, 4 bedroom, 2.5 bath Camelot model is freshly painted and features recessed lighting, center-island eat-in kitchen, full basement, upgraded dimensional roof, 2-car attached garage, slider to the deck, upgraded 200-amp electrical, 9' ceilings, master suite with vaulted ceiling and oversized whirlpool tub, maintenance-free vinyl/stone exterior, newer wall-to-wall carpeting, central air, wood-burning fireplace, and too much more to list! 1-year home warranty also included! Absolutely no work to be done- Hurry, move right in and enjoy!

Real Estate: It's time to buy again!

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Wed, 30 Mar 2011 09:22:40 -0700

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.

22 Sherwood Court, Jackson, NJ 08527

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 28 Feb 2011 20:23:36 -0800

1 McKinley Drive, Ocean NJ 07712

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Fri, 25 Feb 2011 15:02:21 -0800

This two bedroom, two bath end-unit condo features large rooms, upgraded laminate floors, ceramic tile kitchen and baths, a full appliance package, wood-burning fireplace, wall-to-wall carpeting in the bedrooms, a master suite with a walk-in closet and upgraded full bath, eat-in kitchen, slider to private patio, central air, security system, private storage, and a one-car garage with ample overhead storage! Community features include a pool, clubhouse, tennis courts, exterior maintenance and too much more to list! All this, plus a one year home warranty is included! Minutes from the Garden State Parkway, beach, schools & shopping!

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.

Weichert.Com remains trusted resource for potenial homebuyers and sellers

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Wed, 23 Feb 2011 10:18:57 -0800

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.

Jackson Township...

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Tue, 22 Feb 2011 12:48:39 -0800

A little bit about Jackson Township... Click to watch!

Is Your Credit Score a "Score" or a "Rank"??

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Tue, 25 Jan 2011 09:03:30 -0800

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.

Still On The Fence??

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Wed, 05 Jan 2011 12:12:12 -0800

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.

It All Adds Up!!

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 15 Nov 2010 08:45:08 -0800

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.

A Better Alternative...

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 08 Nov 2010 07:57:03 -0800

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.

Look Before You Leap!

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 01 Nov 2010 09:20:19 -0700

If my recent column about the three types of foreclosures peaked your interest in making such a purchase, read on to learn a few of the common mistakes to avoid when you're ready to make an offer.

First, don't get caught up in a bidding frenzy. Banks may under-price their offering, hoping to generate multiple bids and sell quickly. Don't get overexcited - there's another foreclosure to bid on tomorrow!

Second, don't underestimate your repair costs. Carefully read the inspection report, and factor in an additional 10-20 percent of the purchase price for unexpected repairs.

Third, don't ignore the "comparables" for similar properties in the area. If there are abundant foreclosures in the neighborhood, be sure that you have the latest home prices to compare against, and keep your offer at or below those figures.

Fourth, if you're buying for the short-term because you may relocate or upgrade in a few years, don't go house hunting in a neighborhood full of foreclosures. These properties may continue to decline in value, meaning you may have to sell at a loss in the near future. Protect your investment by purchasing the only foreclosed home in a better neighborhood.

Finally, do secure loan pre-approval, because you'll need to move quickly once you've found your ideal property. With your agent as your field guide, your hunt should be successful!

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.

Salvaging Credit and Equity

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 25 Oct 2010 09:07:49 -0700

The issue of pricing strategies was recently addressed here, particularly for facing moving deadlines or selling a home that's languishing on the market. But what if you're experiencing financial hardship or losing valuable equity in your home?

If you're facing mortgage default and want to avoid foreclosure, you're probably looking at a short sale, an agreement with your lender to sell your home for less than what you still owe. This pricing strategy is challenging, because you have to list high enough to satisfy the lender, but low enough to attract buyers.

First, complete a short sale application from your lender and get a quote for how much they're willing to accept. Work with a reliable real estate agent to find the sweet spot between what the lender wants and what will excite buyers, and you may be lucky enough to receive multiple offers.

If you're not defaulting, but your home has lost significant value, you're still in a tough situation. If you bought during the peak years, you may have trouble salvaging your equity in today's market. While painful, the best pricing strategy in this case is to ask your agent for a Comparative Market Analysis (CMA) and price your home at fair market value or below. Again, if your price is right, you may encourage multiple offers, resulting in a higher sale price.

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.

Multiple Choice!!

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 18 Oct 2010 09:51:48 -0700

If you're looking for a bargain and considering purchasing a foreclosure, you'll first have to decide what kind of foreclosed property to pursue. The three categories are Pre-Foreclosure, Sherriff's Auction, and Repossession (or a bank-owned REO).

Pre-foreclosures are in the process, but have yet to be auctioned. Your offer will have to be negotiated with the lender as well as the owner, which makes the deal complicated and slow. Prices also tend to be highest in this category of foreclosures.

The lowest prices are found on properties that are being auctioned, but inspections are usually unavailable for these homes, and the transaction can get very sticky. These foreclosures are often best left to contractors, investors and developers who are well versed in the challenges these properties present.

Finally, if the home does not sell at auction, it is repossessed by the bank and offered as an REO (Real Estate Owned by the bank). These may list at a higher price than the auction price, but you may have the home inspected and avoid any repair surprises, not to mention the fact that you have clear title to the property.

However, homes in this stage are usually still offered in "as is" condition, so make sure to pay very close attention to the inspection report and as always, consult with your agent before making any offers!

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.

Pricing Under Pressure...

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Tue, 12 Oct 2010 07:51:21 -0700

Deciding on an asking price for your home is challenging enough these days, but you need specific pricing strategies for particular scenarios, especially if you're under pressure to move quickly or your home isn’t selling after being on the market for several months. Here are suggestions for both situations.

If you're facing a deadline due to job relocation or other reasons, then you need to price competitively, even more competitively than expected in today's market. You'll need to list at significantly less than your competition. Think 15% less. That may seem tough to stomach, but it’s better than continuing your monthly loan payments or the hassle of trying to find tenants to rent your home.

If your home has been listed for some time, but not generating interest, you'll need to lower your price. Of the three elements that sell a home - price, location, and condition - price is the one you'll have the most control over.

If home values have declined in your neighborhood, the price you originally listed at a few months ago may now be too high and out of line with comparable listings. Now would be the time to give me a call and we'll prepare a new Comparative Market Analysis (CMA) and reevaluate your pricing strategy. If you've got to sell, and sell now, price it like you mean it.

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.

Smooth Sailing...

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 04 Oct 2010 08:43:29 -0700

As a buyer, you want your offer to be accepted and your contract to close on schedule. However, in today's climate, you should expect some negotiation, and submit your offer with the following advice in mind.

The financing contingency in your offer will state your loan total and anticipated interest rate and approval date. Strongly consider locking in that rate with the lender, as rates are still very low, and you'll avoid any future fluctuations in the market.

Reserve funds now for your settlement costs at closing. Anticipate anywhere from 2% to 6% of the amount you're financing, plus your down payment (less any earnest money you offered as a deposit), which will be presented in the form of an official (cashier's) check.

If your down payment funds are not in an immediately liquid account, keep things on track by moving the funds into your checking account at least a week before closing, so you're sure that you'll be able to access the money in advance of the closing date.

Finally, try to avoid a closing date at the end of the month or the end of the year, as these are the busiest times for lenders and could cause undue delay in meeting your approval deadline for financing. Contact me to discuss other factors in crafting your offer and successfully closing on schedule.

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.

Questions and Asnwers

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Tue, 28 Sep 2010 09:13:02 -0700

We all know the mantra of real estate: location, location, location. The neighborhood is usually the most critical factor in determining a home’s value. When you begin your home search, you should create a list of criteria for the neighborhood in which you want to live, work, and play.

Ask yourself questions like how long is the commute to your workplace? Is an urban setting or a rural area more suited to your lifestyle? What is the crime profile for the neighborhoods that interest you?

How convenient is it to get to shopping centers, churches, schools? Speaking of schools, how is the area's school district rated? Even if you don't have or plan to have children, the quality of the school district is another significant factor that determines the home's future value, which will be important when the time comes to resell your house.

If you find that you're priced out of the neighborhood you really love, try to locate fixer-uppers in the area. They may need work, yes, but you'll get your foot in the door, so to speak, and can expect your property value to rise along with the other neighborhood properties and your improvements and repairs.

A real estate agent will help you locate a suitable neighborhood and home, and protect your best interests. Make your list and give me a call today.

If you need information to help you solve a real estate puzzle, email me. I'll be happy to share my knowledge with you at no cost or obligation.

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.

A Proactive Approach!

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 20 Sep 2010 12:42:15 -0700

Typically, homeowners will spend weeks preparing their home for sale, rushing to repair the roof or drafty windows or electrical issues or old appliances (not to mention rushing to the bank to cover the costs of getting the home in model condition). However, there is another novel approach to making your home appeal to buyers, and it's called preventative maintenance.

In other words, starting from this day, look at your home as a prospective buyer would. If you would repair or improve certain features of your home for them, then why not for yourself?

Even new homeowners will one day find themselves on the selling side of the table. It may be difficult to look that far into the future, but life can throw some curveballs that might precipitate a move sooner than you had expected. A growing family, job transfer, or health issues are just a few of the changes that could lead to your decision to downsize, upsize, or relocate to another city.

Keep in mind that any small problems around your home will ultimately develop into bigger ones if neglected, and that it's always easier and less expensive to fix the small problem earlier on. Get proactive and enjoy living in a home that is always in selling condition. When the time eventually comes to move, you'll be really glad you did! If you're planning to sell your home soon and would like information on it's current value, send me an email and we'll get the ball rolling.

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.

Open House 101

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 13 Sep 2010 07:26:03 -0700

No one's going to buy a home without taking a thorough tour, and Open Houses are an easy and convenient way to make the initial rounds. If you're going to visit one open house, you may as well plan to visit several in the area to get an overall impression and basis for comparison.

While you're “on the circuit,” observe a few points of etiquette. First and foremost, be sure to ask permission before taking the lens cap off your camera or video recorder. If the owners are still occupying the home, they may consider it an invasion of their privacy.

Even if the owners are not present during the open house, don't voice any criticisms within earshot of anyone around. Save that discussion for later with your agent, because you never know who might overhear you, like a neighbor or a friend of the sellers. Of course, pay attention to anything you overhear from other visitors!

Also avoid divulging too much information about yourself, like when you have to move or what your price range is. Even if you've walked into your "dream home," show your best poker face, and don't give the listing agent the benefit of spying your emotions.

Open houses are a great starting point, but your best bet is always to have your agent schedule appointments for in-depth home tours.

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.

Auditioning for the Stage...

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Tue, 07 Sep 2010 14:48:17 -0700

A "staged" home always makes an impression on buyers, and it's a marketing tool you should consider, particularly if you'll be moved out of your home while it's listed for sale. Your real estate agent may already have connections to staging professionals, but if you're going to conduct your own interviews, here are some points to cover.

First, it's an absolute must to meet in person and to see their portfolio. Many stagers often have specialties, so you'll want to know what experience they have preparing your type of home, and working with listings that are in your selling price range. You want to be sure that the furnishings and decor that they provide are appropriate for your setting.

Next, focus on the stager's training and background. Since this realty-related industry is largely unregulated, you'll need to ask if they have been trained, and if they have any certifications. If the stager you're interviewing also has some background in real estate, that's a bonus, because there's more to marketing your home than interior appeal, and any other ideas they can bring to the table won't hurt.

Ultimately, it may be simpler for you to just ask your real estate agent for recommendations, because it's likely that the agent has already screened stagers for skill and professionalism, and can make a perfect match for your needs.

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.

The Impact of Escrow and PMI

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 30 Aug 2010 12:09:21 -0700

As you plan to buy a home, seek pre-approval for financing so that you'll know how much home you can afford and how much to budget for monthly mortgage payments. Aside from the financed amount, some other regular expenses associated with homeownership will also impact your payment amount.

First is homeowner's insurance that provides protection against fire and theft. Flood insurance is another beast entirely, and may be required depending on your new home’s location. Remember that you can save money by carrying your auto and homeowners insurance policies with the same company.

Just like insurance, your lender also collects funds each month for property taxes, but you'll appreciate paying them if you ever need to call the police or fire department, or send your kids to a local school! The lender will hold the insurance and tax funds in escrow until the bills are due to be paid on your behalf.

Finally, if your down payment is less than 20 percent of the loan value, you'll likely pay PMI, or private mortgage insurance early on. PMI is insurance for the lender against your risk of default, and might add a couple hundred dollars to your payment, depending on the size of your loan.

Don't worry, these costs are bearable as long as you're prepared for them and you do your planning before making your purchase.

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.

Adjust The Seasoning

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 23 Aug 2010 09:07:51 -0700

There are three basic ingredients in the recipe for selling a home: location, condition, and price. Sellers have the most control over that final ingredient, price. If a home isn’t selling after a couple months, that element will likely need some adjustment.

Generally, if your home isn't selling in the average amount of time that others on the market are, overpricing is the probable culprit. Deciding how much to adjust your asking price will depend on a reevaluation of your local market.

Even if you're confident that you priced fairly and correctly from the beginning, you may find yourself overpriced if local conditions have declined or not seen any recent improvement. Now may be the time to consult with your real estate agent and ask for a new CMA, or Comparative Market Analysis.

The CMA will report the current asking prices, current selling prices, and prices for homes whose listings have expired. Forget about comparing asking prices, because the market has not yet shown if those will sell or not.

Prices at which homes did sell are a good figure to heed, but you'll learn the most from the prices at which homes did not sell, or expired. After your agent's explanation of the CMA, make sure your new price reduction is in line with final sales prices and well below the expired listing prices.

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.

You Can't Go Wrong...

Michael Sinton, CRB, CRS, SFR, e-Pro (Weichert Realtors) — Mon, 16 Aug 2010 09:58:20 -0700

Want to see homes that are exactly what you can afford? Want the best possible terms for your mortgage? Want to show sellers that you're serious and capable? Then start with pre-approval, from several lenders.

Forget about "pre-qualification" - that's just a quick ballpark figure the banks will offer without even checking your credit history. “Pre-approval,” on the other hand, produces a Good Faith Estimate, which spells out the terms of your loan, like interest rate, loan type (fixed rate, adjustable, etc.), and closing costs.

You'll have to provide documentation (bank statements, paystubs, W-2's, etc.) and the lender will check your credit report, but this extra work will give you a much firmer idea of what you can afford, as well as give you a powerful tool for making an offer and negotiating your purchase.

If you're serious about maximizing your investment, don't get just one letter of pre-approval. Apply with several lenders, because little things like the interest rate can make a huge difference when it comes to such a large amount. Don't just accept the first offer. Make the banks compete, and you could save thousands by comparing their terms.

Banks won't guarantee the loan until you've made an offer and the appraisal and title work have been approved, but you can't go wrong by doing your loan search before your home search.

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.