Paul's Blog-Insight into the home buying process.

Buyer Representation - Seller Representaton. Equal treatment is not FAIR.

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Tue, 28 Jul 2009 11:56:57 -0500

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

Mortgage Options for the Villages at Berkley, Mantua, NJ

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sat, 25 Jul 2009 08:51:22 -0500

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.

* - * - * - * - * - * - * - * - * - * - * - * - *

Example #1: Home Purchase using the Tax Prefund Mortgage program.

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.

• Reverse Mortgages

• 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

Market State July 14, 2009 (Mercer County NJ)

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Tue, 14 Jul 2009 07:20:52 -0500

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

Market Stats 07-03-2009 Cherry Hill NJ

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Fri, 03 Jul 2009 16:38:59 -0500

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 you hire a buyers agent - avoid the BS (bait and switch) hire the whole office.

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

Today's market stats - Cherry Hill NJ

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Thu, 02 Jul 2009 07:19:20 -0500

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 you hire a buyers agent - avoid the BS (bait and switch) hire the whole office.

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

Deceptive Advertising in Real Estate - Avoid the BS (Bait and Switch) with NAEBA

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Tue, 30 Jun 2009 11:02:52 -0500

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

South Jersey: In the MLS: Days on Market vs Property Marketing Period

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sat, 06 Jun 2009 08:20:03 -0500

What you should know:

What your agent knows = What you should know.

Days on Market: May not be an accurate representation of the length of time a property has been on the market because this number only refers to the days on market for one listing of a property. Multiple listings due to withdrawal from market followed by relisting and expiration of listing followed by relisting serve to provide an inaccurate picture of the time a property has been on the market.

TREND MLS has tried to improve the accuracy of information available to agents.

Property Marketing Period: The sum of days on market for multiple listings of one property when there are fewer than 30 days between the end of one listing and the start of another.

Example: Company A lists #1 Main St. After 120 days the listing expires. 10 days later Company B lists #1 Main St. 10 days into Company B's listing Days on Market is 10 days. Property Marketing Period is 130 days. (One may argue that the true number is 140 days since the 10 day period between listings has been excluded.)

If the seller had not listed #1 Main St with Company B until 35 days after the expiration of Company A's listing then 10 days into Company B's listing the Days on Market would equal the Property Marketing Period. Both would show 10 days.

Even in this case, though, your agent has access to the listing history of the property and can find the prior Company A listing period - even though it will not be shown on either the agent reports or the consumer reports that they give to clients.

The reason the reports that consumers receive from their agent contain DAYS on Market and not Property Market Period is because some agents might not want the buyer they are working with to know this information.

If you are not told the Property Marketing Period ask specifically to be shown the listing and price history of the property. Use an agent that believes what they know = what you should know.

Members of NAEBA (the National Association of Exclusive Buyer Agents) have taken a pledge to exclusively represent buyers - and never sellers - and they work for companies that maintain that as the core of their business model.

I am a buyer agent member of NAEBA working in the South Jersey and Central Jersey area. 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.

Remember: the $8000 tax credit that most first time buyer's qualify for only is available for those settling on their home BEFORE December 1, 2009.

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

New Jersey Home Buyers: When Asked to "Consent to Dual Agency" - Just say no.

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sun, 31 May 2009 22:39:26 -0500

Given the number of Realtors misleading the public with websites proclaiming that they are "Buyer's Agents" or will represent buyers as a "Buyer's Agent" I've decided to dwell on this subject a bit more.

5 Questions a home buyer should ask when interviewing to find an agent to represent them:

How long have you been in the business?

What makes you stand out in your ability to represent me?

Does your company also list homes?

Can you fully represent me (as a fiduciary) if your company listed the home I want to buy?

If I hire you and I want to see one of your company's listings will you release me to work with a buyer agent from another company - even if I have already seen the house?

I'm dwelling on this because there are a number of agents in my area that advertise themselves as 'buyer's agents' on their websites and (if it is there at all) bury the information on dual agency potential. There is at least one local Realtor with a misleading website name (the name itself gives the impression she would be a buyer's agent).

In fact when you go to the first page of the site it states without qualification "I'm "name" of "company" in "town name" , your Home Buying Advocate. I work an 80 plus hour work week to get the right home, at the right price, without fail, for all my clients."

Frankly, that statement is not just misleading. It is unethical, it is false. She works for a big franchise company that lists hundreds of homes.

It is even more bold - and literally in bold - stating:
"South Jersey Buyer's Agent Gets the Terms and Price that is Best for you, the Buyer"

The site links to the agent's property search page.

At some point I may report this to the real estate commission - in the mean time I'll just use it for fodder for commenting about buyer agency. I'm sure I've given enough info here for anyone to figure out who the agent is and I'm wondering if the site will change because of it.

Members of NAEBA (the National Association of Exclusive Buyer Agents) have taken a pledge to exclusively represent buyers - and never sellers - and they work for companies that maintain that as the core of their business model.

I am a buyer agent member of NAEBA working in the South Jersey and Central Jersey area. 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.

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

Real "Buyer's Agents" NEVER ask buyers to sign a "Consent to Dual Agency" agreement.

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Mon, 25 May 2009 08:02:55 -0500

I got a referral the other day from NAEBA. The potential buyer, I found out later, had signed an "Exclusive Buyer Agent" agreement with an agent of one of the large franchise companies. She actually KNEW that the agent was not an Exclusive Buyer Agent and that all the contract meant was that she had to work with this agent (exclusively) for the term of the agreement (though it did have a cancellation provision).

The use of the term "Exclusive Buyer Agent" in this context is at best misleading. There is an organization of EXCLUSIVE BUYER AGENTS called the National Association of Exclusive Buyer Agents. Members of that organization are EBAs (EXCLUSIVE BUYER AGENTS) because they work for companies that never represent sellers or list homes.

In the case of my referred buyer that agent worked for the company that listed a home the buyer had some interest in. This is where she became uneasy about the relationship - with good reason. When she signed that so called "Exclusive Buyer Agent" agreement it also contained a "Consent to Dual Agency" provision. That meant that she agreed upfront that the agent could represent both her and the seller. As you may well see, that conflict can't be resolved so she ended up without ANYONE to represent her interests. Who would help her negotiate the price and, later, home inspection repair issues. Certainly not "her" agent.

It is no wonder that so many consumers end up in this position. This buyer is an attorney and so is her husband. She said, "I feel so stupid". She shouldn't - real estate was not her area of expertise and she didn't realize she had other options. State law does not require that disclosure.

When asked to sign a "Consent to Dual Agency" form consumers should just say no.

If you want to work with a company that NEVER engages in dual agency choose an agent that is a member of the National Association of Exclusive Buyer Agents.

State laws do NOT REQUIRE that consumers be told of the exclusive buyer agent option - but they should. Also see: The pitfalls of Dual Agency" in Realty Times.

Members of NAEBA (the National Association of Exclusive Buyer Agents) have taken a pledge to exclusively represent buyers - and never sellers - and they work for companies that maintain that as the core of their business model.

I am a buyer agent member of NAEBA working in the South Jersey and Central Jersey area. 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.

Paul Howard, Broker

NJHomeBuyer.com Realty (member of NAEBA)

Cherry Hill NJ 08002

856-488-8444

NJHomeBuyer.com Realty on FaceBook

Five things a buyer agent should show you when looking at an 'older' home.

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sun, 17 May 2009 09:05:44 -0500

Five things a buyer agent should show you when looking at an 'older' home.

The other day while showing a young couple a home they asked me if they could use a voice recorder to record my comments. I thought it was a great idea. When I look at any home (not just an older home) I point out pros and cons and answer a wide range of questions. So, what was it they wanted to record?

Here are 5 things I'm likely to comment on or answer:

Is the grading around the house likely to result in water in the basement?

Is the water service entry galvanized pipe or copper?

Are there cracks in the foundation wall and what effect might that have on the choice of a home inspector.

Are there signs of termite damage/activity or repair.

Are there signs of water penetration in dark corners (I have a big light).

This list applies mostly to houses with basements but not entirely.
In future posts I may do a list on other aspects of viewing homes or on the purchase process.

Think about doing what my clients did (and which I'll encourage others to do) - use a voice recorder or better yet a video camera.

If you are a consumer, looking for a buyer agent in your area, you may find an EXCLUSIVE BUYER AGENT (EBA) at: naeba.org. Members of NAEBA (the National Association of Exclusive Buyer Agents) have taken a pledge to exclusively represent buyers - and never sellers - and work for companies that maintain that as the core of their business model.

I am a buyer agent member of NAEBA working in the South Jersey and Central Jersey area. 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.

Paul Howard, Broker

NJHomeBuyer.com Realty (member of NAEBA)

Cherry Hill NJ 08002

856-488-8444

Twitter/paulhoward

FaceBook

I'm an Exclusive Buyer's Agent: My business model wasn't chosen to maximize my income.

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sun, 29 Mar 2009 21:25:41 -0500

To many in the real estate industry my chosen way of operating my real estate brokerage business makes no sense - at least financially. Consumers that buy homes understand and embrace it -eventually-but don't realize the financial sacrifice that comes with the territory.

Comments from agents:

"You are giving up half the business."
"If you don't have listings - how do you attract buyers?"
"What do you do when people want you to list their house?

Comments from home buyers:

"You are an EXCLUSIVE buyer agent - right?"
"How do you get paid?"
"I never knew that real estate companies representing only buyers existed."

The half of the business I (and other exclusive buyer agents) give up -the sellers - is the half whose interests are in conflict with the half we have chosen to represent - the buyers.

All informed agents know that if a real estate COMPANY represents both the buyer and the seller in a transaction, that company is acting as a dual agent - and as long as the buyer and seller agree, it is legal to do so. Well, it is legal in New Jersey - but not in all states. All agents in New Jersey represent the side or sides that their company represents. That makes for a lot of dual agents.

Exclusive buyer agents (EBAs) take representation very seriously - so seriously that they are willing to make a financial sacrifice to be able to work for their CLIENT without the risk of dual agency. No agent can give full representation to a buyer and a seller in the same transaction - no matter how 'comfortable' that agent has made them feel. Indeed, given that for many agents a major source of business is listing the homes of their friends and relatives, they may find even acting as a dual agent impossible, to say nothing of acting as a buyer's agent.

I opened my business (NJHomeBuyer.com Realty) at the Tarragon Office Center in Cherry Hill, NJ in 2002 as an exclusive buyer brokerage. I can't say that it has been easy, but, we are still here and making some progress. Like most exclusive buyer offices, a major part of my business comes from referrals from past clients. The only other exclusive buyer brokerage with an office in the state of New Jersey, that I know of, is Buyer's Advisors in North Jersey. It is clear that the industry, as a whole, doesn't place idealism and consumer advocacy over financial interest, so I don't expect a rush to copy my business model any time soon.

There are only about 300 exclusive buyer offices nationwide. Still, that I have been able to survive 7 years is an indication that the business model is viable for someone that believes in it in their heart.

Hopefully, as more buyers learn to distinguish exclusive buyer agents, who have no potential for dual agency, from agents in companies that list homes, companies like mine will thrive - not merely survive. As more buyers learn of the existence of EBA brokerage services the demand will grow - hopefully leading to wider adaption of Exclusive Buyer Brokerage as a business model - and far better representation for home buyers.

As a home buyer searching for that perfect home, having an advocate that is REALLY on your side (and won't all of a sudden become a dual agent) can offer a lot of peace of mind. The decision to buy a particular home really does affect your life. It impacts the people you will meet and become friends with. The cost and future appreciation of your home has a great impact on your lifestyle and what you can afford to do as you live your life.

If you would like the peace of mind that an exclusive buyer agent can offer and you are looking for a home in South Jersey - contact me, interview me, ask me for references, ask me how I'm different, ask me how I get paid. If you like the answers - let me work for you to help find your home.

Paul Howard, Broker
NJHomeBuyer.com Realty (member of NAEBA)
Cherry Hill NJ 08002
856-488-8444
Paul@SouthJerseyHomes.com

Follow me: twitter.com/paulhoward
Business FaceBook Profile

Home Buyers should REQUIRE a written contract with their agent

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sun, 22 Mar 2009 10:35:16 -0500

With 2 exceptions (that I am aware of) , no New Jersey real estate company can guarantee you that they will, in all cases, work as a true buyer's agent and not become a dual agent. The 2 exceptions are the 2 companies in NJ that do not list homes (work for sellers) and so they have no potential for dual agency.

All home buyers have a right to negotiate the commission paid to their agent with that agent and enter into a contract stating the terms of that agreement, and they further have a right to condition their offers and contracts on the seller's agreement to pay that commission in full. This includes short sales.

Any third party (including a lender in a short sale or the listing agent) to the the buyer agent contract that tries to force a change in the terms to that contract is in violation of the law. Specifically, if they are aware of the terms of that contract, they would be guilty of Tortious Interference with a contract. see http://en.wikipedia.org/wiki/Tortious_interference

If an agent is unable to negotiate their own commission with a buyer - why should the buyer trust the agent to be able to negotiate a favorable sales price and terms for them. Find a real buyers agent - or at least an agent with the guts and experience to act as an advocate - if they are unable or unwilling to put the terms of their own services in writing - move on.

As for short sales in general - most never settle. MOST of the time - they are a waste of time. Unless you can confirm that the seller has ALREADY been financially approved for a short sale don't waste your time. Even then it is a long shot.

Paul Howard, Broker

NJHomeBuyer.com Realty (member of NAEBA)

Cherry Hill NJ 08002

856-488-8444

Twitter/paulhoward

FaceBook

Buyer agents should be able (and willing) to spot obvious defects in homes.

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Fri, 13 Mar 2009 07:36:27 -0500

Glen Fisher, an excellent home inspector I know, recently made a blog post on Active Rain indicating that if agents are to call themselves buyer agents they should know something about home contruction and be able to identify obvious defects. The vast majority of Realtors that commented blasted his stand without mercy.

Ernie said, "Glen...Sorry, but you're not going to win this argument...We as Realtors/Agents cannot express more than an opinion about a problem...Simply put, it's not our job, it's yours...Do it and get paid for it!"

In one of his responses Glen had said:

"If I was a consumer searching for a Buyer Agent, I would look for an agent that "knows houses". In addition, I would also want an agent that is my advocate and will efficiently guide me to the objective. But then again that is just my opinion."

Glen, I guess being right doesn't always let you win. Pity.

I skimmed through the posts but could have stopped at the first two comments.

Kevin Cavanaugh commented first and got it right on. Then Lenn got it wrong.

Kevin uses the knowledge he has to help buyers avoid homes with defects that he can identify and he has indicated that he has the background to be able to do that.

Lynn on the other hand says: "We are not home inspectors. I thought that was your job." The reason she says that is because she does not have the knowledge to do the job that Kevin can do and she defends that lack of knowledge by saying it is not her job.

If I were a buyer choosing between Kevin and Lynn - I'd go with Kevin every single time.

It is true that most agents that 'claim' to be buyer agents don't have the knowledge to identify defects that should be obvious to anyone with even minimal knowledge. The sad fact is that most Realtors (let alone those that call themselves buyer agents) know very little about the make up of a house. It is even sadder that most have no inclination to learn.

Kevin, I hope you include your knowledge of construction in your marketing - as well as a disclaimer. My disclaimer goes along the lines of: If I find 5 defects your home inspector will likely find at least 20 more.

Although I will sometimes say positive things about a house they have to be very obvious. Making unconditional statement like: "The basement seems dry to me.", is just asking for trouble. I may say, this basement has recently had a french drain installed but I bet they didn't fix the grading outside that is possibly a part of the problem they are trying to fix.
I'm more apt to say, "You may think the basement seems dry but it has poor grading outside, and the concrete block shows signs of at least past water seepage. to keep it dry corrective action may be required - an inspector may tell you more."
Go ahead, Lynn, and keep getting your clients into contracts only to let them spend a few hundred dollars learning something that a KNOWLEDGEABLE buyer agent should have been able to tell them up front.

If you are a consumer, looking for a buyer agent in your area, you may find an EXCLUSIVE BUYER AGENT (EBA) at: naeba.org. Members of NAEBA (the National Association of Exclusive Buyer Agents) have taken a pledge to exclusively represent buyers - and never sellers - and work for companies that maintain that as the core of their business model.

I am a buyer agent member of NAEBA working in the South Jersey and Central Jersey area. My office is in Cherry Hill. If you are looking for a home in the near future and are qualified to buy, call me today. I am exactly what Glen Fisher said he would look for in a buyer agent to guide him.
Paul Howard, Broker

NJHomeBuyer.com Realty (member of NAEBA)

Cherry Hill NJ 08002

856-488-8444

Twitter/paulhoward

FaceBook

From renter to first time buyer in todays South Jersey market.

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sun, 01 Mar 2009 11:50:05 -0600

Find this letter (with links) on the web njhomebuyer.com/march2009.pdf

Facebook:
www.companies.to/NJHomeBuyer
Twitter: www.twitter.com/paulhoward

Paul Howard, Broker

NJHomeBuyer.com Realty
811 Church Rd Suite 111
Cherry Hill NJ 08002
856-488-8444

Timing the transition from renting to buying.

Most people that own a home have rented at one time or another. Eventually though, most renters make the move to home ownership.

That move takes thought. For some, the decision is financial - for others it's the desire to have a place of their own. What is it for you? It could be to have a place to raise a family, gain privacy or to change as you like - grow a garden or repaint just for the sake of new colors -without asking permission. Is it your time yet - even if you want it to be? If you have a lease and you plan to buy a home you should review the terms of the lease. Do you have to wait till the end of the lease term? To explain your rights your landlord should have given you a "Truth In Renting " booklet as required by the state of New Jersey.

6 questions and some advice

What can you comfortably pay per month? How does it compare with your rent payment?
What payment do you qualify for with a lender?
Do you qualify for federal, state, county or city down payment assistance or grant programs?
Is your credit in order?
Do you have enough savings for downpayment and closing costs?
Have you prioritized a home wish list? What do you need? What do you want? And Where?
Did you know, if you complete your purchase before December 1 this year, you are a first time buyer, make under $75,000 (if you are single) per year and live in the house for 3 years the government will almost certainly give you $8000 that you don't have to pay back?
Contact a REALTOR® that is an exclusive buyer broker to guide you through the process and act as your advocate. Some questions only you can answer, for others you will need help.

If you are not among those who will always rent you may find a starting point in this letter.

Three things are critical. (1) Finding a real estate broker with the experience, knowledge and competence to act as a true advocate to help you get what you want as efficiently and at the lowest cost possible. (2) Arranging financing at the beginning to ensure that you are in the best possible bargaining position when the time to negotiate arrives. (3) Consider the current state of the economy when you make your decision. The economy is a mess. It may, though, offer an opportunity for those in a position to take advantage of it.

Contrary to much of the recent press, mortgages are readily available to those with good credit - often with down payments as low as 3.5%. With mortgage rates at historic lows, and home prices lower than they have been in years, now is a great time to buy a home for those who are ready. Not only that, but the vast majority of first time buyers will qualify for an $8000 credit from the federal government if they close on their home before December 1st of this year.

I've held a New Jersey real estate license since 1987 so I've been around long enough to have seen down markets before. I'm a licensed real estate broker. That means that I'm licensed by the state of New Jersey to employ and supervise other agents. I'm an Exclusive Buyer Broker and a member of the National Association of Exclusive Buyer Agents (NAEBA) which means that I do not represent sellers or engage in the common practice of 'dual agency' because of the conflict of interest involved in representing both a buyer and seller in a transaction.

I am available for free consultations (either group or private). It's time for those who want to buy now or within the next 6 or 8 months (or who want to find out if they CAN buy before the $8000 tax credit runs out on December 1st) to begin. At minimum, our meeting will give you enough information to know where to start. Contact me soon!

Sincerely,

Paul Howard, Broker

Do you advertise as a 'Buyer's Agent'? Are you misleading consumers?

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Wed, 25 Feb 2009 11:21:49 -0600

I see it every day in advertising across the country. Agents advertise their expertise as buyer agents. They tell how great their services are. They tell how great the services of their 'team of buyer agents' is.

They work across the country for large franchise companies and small independents.

Much of the time when they advertise their services they are dishonest and are violating the ethical standards of the National Association of Realtors. Specifically, Article 12 of the Standards of Practice, are often violated. Article 12 says: REALTORS^® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations.

When agents advertise their services as buyer agents, they violate that provision when they fail to disclose, in the advertising, the potential for dual agency that exists if their firm also represents sellers. That disclosure is a requirement of 'honest and truthful...communications...". It is required in order to present a 'true picture'.

Some Realtors carry the misrepresentation to an extreme by using web domain names with the term buyer agent, buyers1st, etc in the domain name. Most consumers seeing that are going to believe that the agent will definitely work with them as a buyer agent. Often, even when one goes to the website is it not disclosed or not clearly disclosed that the agent also works for sellers and that there is at least the potential for dual agency. This is a clear violation of Standard of Practice 12:10 which states in pertinent part: "REALTORS^®’ obligation to present a true picture in their advertising and representations to the public includes the URLs and domain names they use...."

There are more and more real estate companies across the country that avoid the dual agency problem and so can truely and honestly advertise themselves as buyer agents. These companies NEVER represent sellers so the potential for dual agency does not exist.

Paul Howard, Broker

NJHomeBuyer.com Realty (member of NAEBA)

Cherry Hill NJ 08002

856-488-8444

Twitter/paulhoward

FaceBook

INFRARED CAMERAS FOR HOME INSPECTIONS - YES OR NO?

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Thu, 19 Feb 2009 16:17:58 -0600

It is unfortunate that some agents will answer "NO" because they don't want to kill a deal.

A real bright guy told me, "Home inspections don't kill deals- they just open the door to negotiations." I agree.

Via Glen Fisher (National Property Inspections of Southern New Jersey, LLC):

It is getting close to that time of year when I start dwelling on new equipment for my home and building inspection business. I have been thinking about purchasing an infrared camera to use on my inspections which are mostly residential homes.

However, I am not sure how infrared cameras are perceived by real estate agents and brokers. This is where I need your input. If you are not familiar with these cameras, what they do is take a picture of invisible infrared or "heat" radiation also known as thermal imaging. The camera is a remarkable diagnostic tool for inspectors as it can indicate problems not visible to the naked eye. For instance, water leakage can be detected through a roof, wall or window with no interior evidence that the leakage even exists. We all know what problems water may cause (can you say mold) and the liability it presents.

It is also possible to use the camera for energy loss issues (think green) such as missing insulation and improper operation of air conditioners and heat pumps. There are safety uses too, such as locating overheating electrical wires inside walls or other faulty electrical components.

Now that you are up to speed on what thermal imaging can do, I think you are starting to get the picture (no pun intended). Using infrared cameras for home inspections will find more problems. And with more problems, selling properties may become increasingly difficult and more deals may not close due to the seller's unwillingness to negotiate repairs.

This is my dilemma. Although my inspections already are high quality, an infrared camera will help me provide an even better inspection. But I am not sure an infrared camera can help me grow my business with real estate agents and brokers. Do you want this technology - yes or no?

Glen Fisher southjerseynpi@aol.com

"The South Jersey Home Inspector"

Time to rip the listing agent and selling agent commissions apart

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Wed, 18 Feb 2009 18:15:08 -0600

Inman is currently running a series on: "Perspective: Revamping real estate commissions"

Many of the articles are insightful but all of the ones I have seen miss a major factor in the tight hold the 'traditional' system (listing agent and seller listing agreement providing for an 'offer' of compensation to the buyer's agent) has over the industry.

The offer of compensaton system is as much the problem as the common expectation that the 'offer' has to be accepted by the buyer's agent. There shoud be no such expectation since there is no obligation to accept the offer - nor should there be. Buyer's and their agents should ALWAYS enter into an agreement specifying the terms of compensation. That should not be affected by any 'offer' coming from the listing agent or the seller.

The buyer is free to condition their offer on the seller paying the fee - that is a matter between them. The buyer's agent doesn't care where the money comes from - just that it does.

MLS systems facilitate this 'offer' system by providing for it to be specified in the MLS. This isn't price fixing, just providing the tools to do so and apparently the DOJ, FTC and even CFA (Consumer Federation of America) and other 'consumer' organizations are blind to it.

Paul Howard, Broker

NJHomeBuyer.com Realty

Cherry Hill NJ 08002

Homebuyer orientation. (South Jersey, NJ edition)

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Fri, 13 Feb 2009 16:30:57 -0600

Buyer and Agent: do they relate? Are they on the same page? Are you (the buyer) ready to tour homes?

Identify yourself to your agent: Your agent should have your name, phone number, email address, and home address (at minimum).
Be prepared: Expect to provide a prequalification letter from a lender as proof that you qualify to purchase the homes you want your agent to show you. If you don't have it your agent can help you get it. Seller's do not knowingly give people that are not qualified to buy their home permission to enter.
Be ready to provide a list of what you must have and maybe also what you REALLY would like to have.
Viewing homes: The agent is not prepared for crowd control. This is not a case of everyone goes in a different direction - especially in an occupied house. If something is stolen from the home and you were not with your agent who do you think is going to get the blame. It does not matter how nice and honest you are. Stay with your agent. Most of the time the seller will not be home.
If there is a sign inside the door saying "please remove your shoes" - please do it. They may even provide 'booties'.
Schedule: Keep to it. If you are scheduled for a particular time slot - that is when you have permission to be in the seller's home. You wouldn't walk up and down the street trying the doors of all the houses for sale so don't ask to go into a house at a time for which you were not given permission to be there.
Take notes: Compare what you see with your must have and want to have lists. Are there trade offs regarding condition and room sizes. As you look you may realize there are other 'must have' conditions. Add them to your list and let your agent know. Ex. Master BR must be large enough to fit your current furnature.
Do you want to place an offer on the house? If not, and it met your criteria, try to explain why - it will help your agent fine tune searches.

If you plan to buy a home within the next 6 months, have good credit and verifiable income call and interview me. As an exclusively for buyers real estate broker I will work as your advocate in your home search.

See NJHomeBuyer.com's FaceBook page at: NJHomeBuyer.com Realty on FaceBook

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My speciality is finding homes, discovering financing options and negotiating purchase price and terms as an advocate for home buyers. Each home of interest requires analysis.

My primary service area is Camden, Burlington, and Gloucester counties in Southern New Jersey.

Paul Howard, Broker

NJHomeBuyer.com Realty

Cherry Hill Nj 08002

856-488-8444

MEMBER: NAEBA (National Association of Exclusive Buyer Agents www.naeba.org )

What should you tell your agent?

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Fri, 13 Feb 2009 09:12:27 -0600

Unless you have something in writing from 'your' agent promising that their company will not engage in dual agency you would do well to keep looking for an agent.

Even if they say they will work with you as a buyer's agent, DO NOT TELL THE AGENT ANYTHING THAT YOU WOULD NOT TELL THE SELLER unless the company has no potential to end up as a dual agent. They may be required to be neutral but often agents list homes for friends or relatives. Do you really believe they could be neutral even if they did try? You don't need neutrality anyway, you need advocacy.

In NJ the state mandated 'Consumer Information Statement" has agency options listed. One of them is "Buyer's Agent (or dual agent if the opportunity arises)". That word 'opportunity' is instructive. They are looking for an opportunity to work as a dual agent because their company will get a higher fee if you buy one of their company listings.

But it is not an 'opportunity' for a buyer and it could be a nightmare if the buyer expected advocacy rather than (at best) neutrality.

See NJHomeBuyer.com's FaceBook page at: NJHomeBuyer.com Realty on FaceBook

Follow me on

My speciality is finding homes, discovering financing options and negotiating purchase price and terms as an advocate for home buyers. Each home of interest requires analysis.

My primary service area is Camden, Burlington, and Gloucester counties in Southern New Jersey.

Paul Howard, Broker

NJHomeBuyer.com Realty

Cherry Hill Nj 08002

856-488-8444

MEMBER: NAEBA (National Association of Exclusive Buyer Agents www.naeba.org )

Rebates: Why I think they are anti-consumer - in spite of the DOJ and FTC

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sun, 08 Feb 2009 13:39:48 -0600

Everyone wants a deal and a rebate seems a good way to get one, but is it? I don't think so though my state, New Jersey, very well may join the rebate band wagon.

I believe rebates distort the market and allow producers (of products, services, etc) to charge different prices to different consumers. In a nutshell - price discrimination. In the end this results in higher average prices.

As a provider of real estate services for home buyers I decide what I will charge my clients. If rebates are permitted, some consumers will select a real estate broker or agent based on the existence of size of a rebate offered. Can you imagine picking an attorney in that way?

There is no doubt that commissions are too high but until there are basic structural changes in the industry that will continue. There are simply too many agents and many of them don't know what they are doing unless it is a run of the mill transaction. There are very few run of the mill transactions.

Getting a license to cut hair takes 1200+ hours of study and 10s of thousands of dollars. Getting a license to sell real estate takes less than 100 hours and maybe $300-$500 dollars. Many people get a license to sell a house to their friends and relatives and that is the extent of it. If their purchase was "run of the mill" they might have done ok. If not......

See NJHomeBuyer.com's FaceBook page at: NJHomeBuyer.com Realty on FaceBook

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For those who have a real desire to own a home , have good credit and want help with the search, the process and especially negotiating the purchase, I'm available. My speciality is discovering financing options and negotiating purchase price and terms as an advocate for home buyers. Each home of interest requires analysis.

My primary service area is Camden, Burlington, and Gloucester counties in Southern New Jersey.

Paul Howard, Broker

NJHomeBuyer.com Realty

Cherry Hill Nj 08002

856-488-8444

MEMBER: NAEBA (National Association of Exclusive Buyer Agents www.naeba.org )

I'm worth every penny I get in compensation and buyers that have used me know it. They are entitled to have high expectations. I am not aware of even one of my prior buyer/clients that is in danger of losing their home - even in these bad economic times. The vast majority purchased at a price UNDER its appraised value - even in the boom market times.

Either I have smarter than average buyers or I am a smarter than average broker - or both. Either way, I help home buyers get more for less.

Down the road. More storm clouds or a light at the end of the tunnel?

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Wed, 04 Feb 2009 16:24:06 -0600

I've heard the verdict of so many who gaze into their crystal ball I'm about ready to tune it all out. Are we near the 'bottom'? Should I buy now? Should I wait a year? Two years? I wish I knew any of the answers but I don't know.

There, I've said it. I don't know. The reason I don't know is not because I don't have a crystal ball - though I don't. The reason is because the answer depends on your reason for buying. It depends on your current financial situation and it depends on whether or not you have to sell a house first. (If you do and waiting is a serious option - I'd wait.)

If I were renting right now and buying was an option I'd buy in a heartbeat. If I were an investor and wanting to flip houses - I'd wait. If I were an investor and wanted to add to or start an inventory of rental houses for the rental income I'd seek out all the numerous deals I could get my hands on.

A lot of folks currently renting think the mortgage market is to tough that they would not be able to get a mortgage. In fact, most renters would qualify for a mortgage. If they get an FHA loan and seller assistance, that is virtually ALWAYS available, all they need in most cases is a downpayment of 3.5% of the purchase price to get into a home. Mortgage rates are at or near historic lows. With that, and marked down prices on homes, going from renting to buying is easier than it has been for years.

Follow me on

My primary service area is Camden, Burlington, and Gloucester counties in Southern New Jersey.

Paul Howard, Broker

NJHomeBuyer.com Realty

Cherry Hill Nj 08002

856-488-8444

MEMBER: NAEBA (National Association of Exclusive Buyer Agents www.naeba.org )

I'm worth every penny I get in compensation and buyers that have used me know it. They are entitled to have high expectations. I am not aware of even one of my prior buyer/clients that is in danger of losing their home. The vast majority purchased at a price UNDER its appraised value - even in the boom market times.

Either I have smarter than average buyers or I am a smarter than average broker - or both. Either way, I help home buyers get more for less.

Reverse Mortgages ~ Expected Costs, Appraisals, and Title - Part 3

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sun, 25 Jan 2009 05:47:54 -0600

Steve Kappre ( http://www.twitter.com/skappre ) has a great series on reverse mortgages at: http://activerain.com/blogs/buddie123

Part 3 is below.

Paul Howard

http://www.twitter.com/paulhoward

Via Steve Kappre, Gloucester County, NJ Loan Officer/Mortgage Planner - 856.419.3561 (Treasury Mortgage):

In this installment on reverse mortgages we will discuss a few items;

The expected costs of a reverse mortgage,

If an appraisal is needed, and

Who holds title to your home.

Expected Costs of a Reverse Mortgage

The costs of a reverse mortgage are very similar to that of a typical purchase or refinance transaction. Expect to pay an origination fee (often referred to as points), title insurance, government recoding fees, a mortgage insurance fee (for the Home Equity Conversion Mortgage - HECM, FHA's reverse mortgage), and other typical mortgage costs.

The one item that is more costly on a Home Equity Conversion Mortgage (HECM) is the upfront mortgage insurance fee. Upfront does not mean that it has to be paid out-of-pocket. Assuming the home has ample equity in it, all costs can be rolled into a reverse mortgage so that nothing out of pocket is needed. Expect the mortgage insurance premium to be about 2% of the loan amount.

Why Mortgage Insurance is So Important for Reverse Mortgages

The insurance premium you pay on a reverse mortgage is essentially more expensive because it insures something very variable, and that is the future estimated value of your home, and the potential cost that the lender could incur if you "outlive" the value of your home. As discussed in our previous reverse mortgage letter, once you obtain a reverse mortgage you will never have to make another payment on your home as long as you live in your home. This includes a situation where you are receiving monthly payments, and the value of your home is not there to support the payments. You will still be paid every single month. For this reason mortgage insurance is more costly on a reverse mortgage.

Appraisals

The current and future value of your home is one of the main factors in determining both your qualification for a reverse mortgage, and the amount of equity you can utilize. Since the income you receive from a reverse mortgage is based on your current and future equity, it is necessary to obtain an appraisal to value your home. The value of your home is based upon recent sales of similar homes in your area.

Who Holds Title to the Property?

A common myth is that when you obtain a reverse mortgage you no longer hold title to your property. This is absolutely not true. You hold title to your home just as you would on a regular "forward" mortgage.

We hope you find our future reverse mortgage posts informative as well. Stay tuned.

If you have additional questions or need immediate assistance, feel free to call Steve Kappre on his cell phone at 856-419-3561.

Steve Kappre is a Certified Mortgage Planner with Treasury Mortgage, a subsidiary of Aurora Financial Group, serving all 50 states, focusing on Gloucester, Camden, and Salem County, NJ. Steve specializes in;
• All areas concerning First-Time buyers; First-Time Buyer mortgages, grants, down payment assistance, tax credits, police and fire loans, rehab loans for first time buyers, and more.
• Reverse Mortgages for seniors age 62 or older.
• Equity Management strategies for high-end homes and high net worth individuals.

When they walk through the door they just 'know'. Or not.

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Mon, 19 Jan 2009 18:31:04 -0600

I recently read an agent's blog post that said she tells buyers that they will know if it is the house for them the moment they step through the door. There is no doubt that buyers sometimes really do "know". When they get that "I love it feeling" should the agent validate it? Sometimes. But what if there are things about the house that are negative and could be overlooked by someone taken over by their emotions.

Without raining on their parade an advocate for a buyer should make sure the buyers keep everything in perspective before they have made a financial commitment in addition to their 'love at first sight' emotional commitment.

It is not the job of a buyer's agent to sell property. That is the job of a seller's agent.

Paul Howard

Cherry Hill NJ
NJHomeBuyer.com Realty
Cherry Hill NJ 856-488-8444

If you are in the market for a home in the Cherry Hill, NJ area, make sure you hire an agent who will work for you on your side of the transaction. Paul Howard is the only Exclusive Buyer Agent having an office in South Jersey. Paul, owner of NJHomeBuyer.com Realty in Cherry Hill, is a member of the highly selective National Association of Exclusive Buyer Agents, representing buyers ONLY, 100% of the time.

If you are thinking about buying a home in the Cherry Hill, New Jersey area in the near future, call Paul at (856) 488-8444 or send an email for free information.

NAEBA puts the E in EBA.

Follow me on twitter at: http://www.twitter.com/paulhoward

Prospective home buyers should provide ID to the agents who take them to homes.

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Sun, 18 Jan 2009 08:38:04 -0600

For those that will work without a preapproval (at least for a first showing) I hope they make some effort to identify the person. A copy of a photo ID would be best, but if you want to be unobtrusive making a note of the license of the car they are driving is a minimal step.

I think it should be law in every state that a licensed agent must obtain proper ID to take a person into someones house. A prequal may not be ID but it is something and anyone who doesn't have it by the second showing is suspect.

I think sellers somehow assume that all agents have ID of the persons they are bringing through their home. In many cases they probably do not.

Follow me on

My primary service area is Camden, Burlington, and Gloucester counties in Southern New Jersey.

Paul Howard, Broker

NJHomeBuyer.com Realty

Cherry Hill Nj 08002

856-488-8444

MEMBER: NAEBA (National Association of Exclusive Buyer Agents www.naeba.org )

I'm worth every penny I get in compensation and buyers that have used me know it. They are entitled to have high expectations. I am not aware of even one of my prior buyer/clients that is in danger of losing their home. The vast majority purchased at a price UNDER its appraised value - even in the boom market times.

Either I have smarter than average buyers or I am a smarter than average broker - or both. Either way, I help home buyers get more for less.

BREAKING NEWS! My commission is NOT subject to "3rd party" approval in a short sale

Paul Howard, Broker, NJHomeBuyer.com Realty 856-488-8444 — Wed, 14 Jan 2009 17:36:55 -0600

Here's the thing. When I sign a buyer agent agreement with my client it specifies a time period and a commission amount. It also obligates my buyer client to condition offers on the seller payment of my commission. That is NOT subject to any 3rd party approval.
Now I realize that the '3rd party' may not understand or accept this inconvenient fact but a fact it remains. I explain to my client that they may be put in the position of having to pay any shortfall out of pocket...that makes them unhappy and they generally decide to leave the short sales to others. Fine by me because, generally, getting involved with them is a waste of time for everyone involved.
There are enough legitimate sellers out there to get a real good deal rather than smoke and mirrors which is what most 'short sales' are.

====

Follow me on

My primary service area is Camden, Burlington, and Gloucester counties in Southern New Jersey.

Paul Howard, Broker

NJHomeBuyer.com Realty

Cherry Hill Nj 08002

856-488-8444

MEMBER: NAEBA (National Association of Exclusive Buyer Agents www.naeba.org )

I'm worth every penny I get in compensation and buyers that have used me know it. They are entitled to have high expectations. I am not aware of even one of my prior buyer/clients that is in danger of losing their home. The vast majority purchased at a price UNDER its appraised value - even in the boom market times.

Either I have smarter than average buyers or I am a smarter than average broker - or both. Either way, I help home buyers get more for less.