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A search of TREND MLS at 11am on 2/8/2010 shows 317 homes listed for sale in the 200,000 to 400,000 price range. Of these, 250 are single family detached homes. Of those 250, 159 have 3 or 4 bedrooms and at least 2 full baths. Of those, 102 have both a basement and a garage.
A buyer looking for a home today in South Jersey has a lot to choose from and this month should bring even more. By the end of March those buyers will have a lot of competition from other buyers trying to get into contract before the home buyer tax credit expires at the end of April.
Between now and mid March will be a great time to buy a home in South Jersey - not just in Cherry Hill.
Paul Howard, Broker
www.NJHomeBuyer.com Realty
An exclusive buyer's office in:
Cherry Hill, NJ 08002,
856-488-8444
www.facebook.com/homebuyers
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
I am sooo serious. I hate fax machines. I don't own one and neither should you. Get an efax (or similar ) number already.
I don't have a fax number on my business card for one simple reason - I DON'T WANT YOU TO SEND ME A FAX.
Believe it or not I have email. Unless you don't there is no reason to be sending faxes. And if you don't I probably don't want to do business with you anyway.
Thank you for your time.
Regards,
Paul Howard, Broker/Owner
NJHomeBuyer.com Realty
Cherry Hill, NJ 08002
856-488-8444
OH, don't forget to fan my business page on facebook at:
facebook.com/homebuyers
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
I just read a web page put up by Boise Land and Homes.
It contains the statement:
Can an agent be both an exclusive buyer's agent and an exclusive seller's agent? Yes but not with two buyers and sellers on the same transaction. They can only exclusively represent ONE. They can be a limited dual agent."
No they can't. The term Exclusive Buyer's Agent refers to an agent that works for a company that exclusively works for buyers and represents NO sellers - at all.
Paul Howard, Broker
NJHomeBuyer.com Realty
Cherry Hill NJ 08002
856-488-8444
Member: Naeba - national association of exclusive buyer agents.
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
It is one thing to be required to 'disclose' the possibilities for agency relationships with consumers at the first point of significant contact, but it is quite another to market to them using ads intended to deceive.
Seller's Agent
Buyer's Agent
Dual Agent
Seems simple and it is BUT:
When a brokerage firm, through an agent of that firm, advertises itself (or an individual agent working for them) as a 'buyer's agent', they had better be able to deliver what they advertise.
Can they? In many cases, even they don't know whether they can or not, and even when they can, they can not be sure that the advertised relationship will continue throughout the buyer's purchase.
There are still relatively few real estate companies that can advertise themselves as 'buyer's agents' without fear that they will mislead consumers, but there are some. They call themselves EBAs or Exclusive Buyer Agents. Many of them are members of the National Association of Exclusive Buyer Agents.
If you are buying a home ask the agent of the company to put in writing that they really will stand by you and represent your interest - not the seller's - and not both, throughout your purchase process.
If they advertised themselves as a buyers agent, they should be willing to guarantee in writing that that is what they will be -- all the way through.
If what you find is the bait of buyer agency then a switch giving them the right to be a dual agent - let the FTC know.
If you have been taken in by a deceptive advertisement you can file a complaint with the FTC here.
https://www.ftccomplaintassistant.gov
You can read about the FTC's rules here:
FTC
You can read more about deceptive advertising and marketing here:
DECEPTIVE ADVERTISING AND MARKETING PRACTICES
Good luck in your home search.
Paul Howard, Broker
Cherry Hill, NJ
NJHomeBuyer.com Realty
856-488-8444
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
When I am 'fair' to a seller that means I won't cheat them. I will also treat them with respect. That does NOT mean I will treat them equally. In fact I will NOT treat them equally. I will use every legal means I have to gain an advantage for my buyer client.
If a buyer wants an agent that will work in that way they should be free to choose such an agent. Does disclosure do that for them? Not necessarily -in fact it almost never does. Buyers often see a house online they like and call the company representing that seller. They usually don't buy that house but if they "like" the agent they may stick with them. They may lose sight of the issue of representation.
What if they look at the house with the agent of the seller and then want to buy it but wake up and want someone on their side because they don't feel they are experienced enough to go it alone? If they try to change, many agents will shout PROCURING CAUSE.
Buyers usually don't sign brokerage fee agreements with their agent because the agent goes along with whatever the seller and their agent have decided to 'offer' a buyer's agent as 'compensation'.
AT THE CORE of the issue of dual agency is the commission system. Although lack of proper and timely disclosure is a HUGE problem the brokerage fee system is interconnected.
To make a real change:
- outlaw the system that all too often ties the buyer's agent's fee to an offering from the seller or their agent. They may determine a 'set aside' but should not have the expectation that it will equal the buyer's agent's fee as negotiated independently with the buyer.
-Require agents to have a written contract with buyers as a condition of collecting a fee.
-Start by making it illegal for an agent to collect a commission for a sale unless the buyer has been given and signed a REAL agency disclosure PRIOR TO looking at the house.
State legislatures could address this but as I see it it is a federal issue. Much of the money involved is funded by government backed loans. That makes it a legitimate area for involvement by the feds. As it is, the current commission system inhibits competition. It nearly eliminates any chance of competition regarding brokerage fees on the buying side of the transaction and this is facilitated by the virtually universal practice of the MLS "offer of compensation".
Paul Howard, Broker
www.NJHomeBuyer.com Realty
Cherry Hill NJ 08002
856-488-8444
Serving Southern New Jersey
Member: NAEBA - National Association of Exclusive Buyer Agents
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
The information below was provided by Steve Kappre of Treasury Mortgage. Mortgage smarts coupled with local knowledge is a great combo and it is even better that Steve is in my market area to help my buyers. --Paul Howard Via Steve Kappre, Gloucester County, NJ Loan Officer/Mortgage Planner - 856.419.3561 (Treasury Mortgage): MORTGAGE OPTIONS FOR THE VILLAGES AT BERKLEY, MANTUA, NJ
 Are you considering a home for sale in the Villages at Berkley located in Mantua, NJ (Gloucester County)?
The Villages at Berkley is a condo and townhome complex located off of Berkley Road in Mantua, NJ. The complex boasts a club house, pool, tennis courts and other amenities. Located in Gloucester County, NJ, there is plenty of access to local stores such as Home Depot, KMart, Staples, and ShopRite. More recently to come to Mantua is a Target and a Lowe's Home Improvement Store. With all of these local options, Mantua still has plenty of parks and walking trails such as those at Chestnut Branch Park on Main Street, which is also the location for many of Mantua's youth sports events.
MORTGAGE FINANCING OPTIONS
The Villages at Berkley has a good price range, spanning from properties below $100,000 to the larger models which have sold for over $200,000. A portion of the units are low-to-moderate income units with one or two bedrooms. Some larger models have 3 bedrooms, 2.5 baths and basements. Below is a breakdown of several financing options you can consider for purchasing a home in the Villages at Berkley.
The typical loans available for Gloucester County area are: Conventional, FHA, VA, and USDA.
* - * - * - * - * - * - * - * - * - * - * - * - *
Purchase price: $100,000
Loan: FHA (Required downpayment is 3.5%, or $3,500)
Tax Estimate: $140/mth
Est. Assoc. Fees: $72/mth
Est. Closing and Prepaid Items: $3,200
Est. Monthly Payment: At a 5.5% rate, the mortgage payment would be $547
Est. Total Monthly Payment (PITIA): $823/mth
**First Time Home Buyer's OPTIONAL FINANCING: One current mortgage option is to use a portion of the first time home buyer's tax credit as a down payment on a home. Utilizing this program, known as the Tax Prefund mortgage option, a first time home buyer can receive up to $5,000 of the $8,000 tax credit currently given from the federal government. This $5,000 will be applied to the buyer's required downpayment of $3,500. With $1,500 left over from the credit, a buyer can then apply the balance ($1,500) towards their closing costs. Using this equation a buyer would have to have $1,700 of their own money to close on a purchase of this home. (A buyer can also utilize seller concessions to pay for the difference, in which case in the end, the buyer would need no money his own.)
* - * - * - * - * - * - * - * - * - * - * - * - *
Example #2: Home Purchase using 100% Financing (USDA) loan
Purchase price: $150,000
Loan: USDA (Required downpayment is 0%)
Tax Estimate: $216/mth
Est. Assoc. Fees: $80/mth
Est. Closing and Prepaid Items: $3,800
Est. Monthly Payment: At a 5.5% rate, the mortgage payment would be $851
Est. Total Monthly Payment (PITIA): $1,185/mth
In this scenario no downpayment is required. A buyer would still have to pay their estimated $3,800 closing costs and pre-paid items (taxes and insurance). These costs can also be negotiated to be paid by the seller. This is typically done and the time of negotiation when a buyer and seller come to terms.
* - * - * - * - * - * - * - * - * - * - * - * - *
Example #3: Home Purchase using a Conventional loan
Purchase price: $225,000
Loan: Conventional (5% minimum required down payment - our example will use 20% down)
Tax Estimate: $349/mth
Est. Assoc. Fees: $125/mth
Est. Closing and Prepaid Items: $4,500
Est. Monthly Payment: At a 5.5% rate, the mortgage payment would be $1,022
Est. Total Monthly Payment (PITIA): $1,496/mth
* - * - * - * - * - * - * - * - * - * - * - * - *
Above you have seen just a few examples of financing a home in the Villages at Berkley. There are many other options and ways to structure financing for a new home. Many of these options will work on other homes in the area, but all mortgage programs have guidelines that may or may not allow you to utilize them with the home you desire to purchase. Be sure to consult a mortgage professional with your particular scenario to see what options are available to you.
Other Helpful Links
Understanding and Using All of Your First Time Home Buyer Options
Understanding Seller Concessions | Seller Paid Closing Costs | Seller Contributions | Seller Assist
Financing and Mortgages with a Credit Score Below 620
Why I'm Stressing Over Someone Else's Credit
Steve Kappre is a Mortgage Planner with Treasury Mortgage. Steve specializes in;
• All areas concerning First-Time Home Buyer Mortgages, grants, down payment assistance, police and fire loans, rehab loans, and more.
• Equity Management strategies for high-end homes and high net worth individuals.
Contact Steve Kappre directly at 856-419-3561 or at www.stevekappre.com
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
Trend MLS shows the following ( on July 14,2009) for Mercer County, New Jersey.
Homes for sale: 2447
Single detached homes for sale: 1486
Homes under contract: 588
Homes for sale categorized as needing "TLC": 120 (You can bet there are another hundred needing TLC and you won't know till you get there)
Homes sold (settled) in June 2009: 320, June 2008: 349
Homes for sale with at least 3BR, 2 full baths, garage, basement: 764, with price under $500,000 - 392, under $300,000 - 109
That still leaves a lot to choose from for the average first time buyer and a lot of competition for the average seller.
When the first time buyer tax credit expires on November 30th the effect will be that of an immediate $8000 increase in price across the board for all qualified first time buyers. It is unlikely that beyond that point any additional slide in home prices will make that up.
When you hire a buyers agent - avoid the BS (bait and switch) hire the whole office.
NJHomeBuyer.com Realty, is a member of NAEBA ( National Association of Exclusive Buyer Agents) covering South Jersey and Central Jersey. My office is in Cherry Hill. If you are looking for a home in the next 6 months, have a 650 plus credit score and are employed, call Paul today.
For more on NAEBA visit NAEBA
Paul Howard, Broker/Owner
NJHomeBuyer.com Realty (member of NAEBA)
Cherry Hill NJ 08002
856-488-8444
"Fan" NJHomeBuyer.com Realty on FaceBook
Follow Paul Howard on twitter at: twitter.com/paulhoward
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
TrendMLS shows the following ( on July 3,2009) for Cherry Hill, New Jersey.
Homes for sale: 667
Single detached homes for sale: 496
Homes under contract: 107
Homes for sale categorized as needing "TLC": 24 (You can bet there are another hundred needing TLC and you won't know till you get there)
Homes sold (settled) in June 2009: 61
Homes for sale with at least 3BR, 2full baths, garage, basement: 275, price under $300,000 - 90
That still leaves a lot to choose from for the average first time buyer and a lot of competition for the average seller.
When the first time buyer tax credit expires on November 30th the effect will be that of an immediate $8000 increase in price across the board for all qualified first time buyers. It is unlikely that beyond that point any additional slide in home prices will make that up.
When you hire a buyers agent - avoid the BS (bait and switch) hire the whole office.
NJHomeBuyer.com Realty, is a member of NAEBA ( National Association of Exclusive Buyer Agents) covering South Jersey and Central Jersey. My office is in Cherry Hill. If you are looking for a home in the next 6 months, have a 650 plus credit score and are employed, call Paul today.
For more on NAEBA visit NAEBA
Paul Howard, Broker/Owner
NJHomeBuyer.com Realty (member of NAEBA)
Cherry Hill NJ 08002
856-488-8444
"Fan" NJHomeBuyer.com Realty on FaceBook
Follow Paul Howard on twitter at: twitter.com/paulhoward
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
TrendMLS shows the following ( on July 2,2009) for Cherry Hill, New Jersey.
Homes for sale: 667
Single detached homes for sale: 499
Homes under contract: 98
Homes for sale categorized as needing "TLC": 25 (You can bet there are another hundred needing TLC and you won't know till you get there)
Homes sold (settled) in June 2009: 61
Homes for sale with at least 3BR, 2full baths, garage, basement: 275, price under $300,000 - 90
That leaves a lot to choose from for the average first time buyer and a lot of competition for the average seller.
When the first time buyer tax credit expires on November 30th the effect will be that of an immediate $8000 increase in price across the board for all qualified first time buyers. It is unlikely that beyond that point any additional slide in home prices will make that up.
When you hire a buyers agent - avoid the BS (bait and switch) hire the whole office.
NJHomeBuyer.com Realty, is a member of NAEBA ( National Association of Exclusive Buyer Agents) covering South Jersey and Central Jersey. My office is in Cherry Hill. If you are looking for a home in the next 6 months, have a 650 plus credit score and are employed, call Paul today.
For more on NAEBA visit NAEBA
Paul Howard, Broker/Owner
NJHomeBuyer.com Realty (member of NAEBA)
Cherry Hill NJ 08002
856-488-8444
"Fan" NJHomeBuyer.com Realty on FaceBook
Follow Paul Howard on twitter at: twitter.com/paulhoward
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
Deceptive Advertising in Real Estate - Avoid the BS - Bait and Switch
I have no problem with agents saying they are a buyer's agent - if they are and will be. When it comes to advertising ones self as a buyer's agent, though, it is unethical to do it without disclosing in the same advertising any potential that they might not be able to deliver on that. The ONLY agents that can advertise unconditionally as a buyer's agent are those that work for companies that do not list homes - Exclusive Buyer Agents. The only way I know to be sure that a company is an Exclusive Buyer Office is to verify that they are a member of NAEBA - The National Association of Exclusive Buyer Agents.
It is my view that most advertising as 'buyer agents' by Realtors and other licensees across the country is deceptive when they advertise unconditionally. Only in the case of Exclusive Buyer Agents would the claim always be true.
When the URL for the page shouts "Buyers1st" or some equivalent words, or when the landing page (any landing page) makes a statement that the consumer should use them as their buyer's agent without disclosing any potential for dual agency -- that is deceptive.
When a Realtor or other licensee advertises themselves as a buyer's agent without disclosing dual agency potential - even in a designated agency state - that is deceptive because at that point they have not been 'designated' as a buyer's agent by their firm and even then the person doing the designating would be a dual agent if the firm listed the property in question.
The issue is disclosure -that is definitely true. I'm happy to see NAEBA pushing for national disclosure. Although I don't think it will happen at the federal level as soon as it should, I think federal pressure can make it more likely at the state level. On the other hand to the extent that advertising reaches across state lines - it is a federal issue.
The issue is also false or deceptive advertising. That lack of disclosure is what makes the advertising deceptive. The issues are separate though.
The deceptive advertising aspect is, to me, crystal clear and as I discuss this it becomes even more clear. An easy read at http://www.ftc.gov/bcp/edu/pubs/business/adv/bus35.shtm may help to clarify it for others.
My office, NJHomeBuyer.com Realty, is a member of NAEBA covering South Jersey and Central Jersey. My office is in Cherry Hill. If you are looking for a home in the next 6 months, have a 650 plus credit score and are employed, call me today.
For more on NAEBA visit NAEBA
Paul Howard, Broker
NJHomeBuyer.com Realty (member of NAEBA)
Cherry Hill NJ 08002
856-488-8444
NJHomeBuyer.com Realty on FaceBook
Follow me on twitter at: twitter.com/paulhoward
Paul Howard, Broker
NJHomeBuyer.com Realty
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444
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Paul Howard NJHomeBuyer.com Realty... 856-488-8444
Cherry Hill,
NJ
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Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444
Address: 811 Church Rd, Suite 111, Cherry Hill , NJ , 08002
Office Phone: (856) 488-8444
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