Broker/Agent Social Network - Matthew Ferry's video - How to Manifest Your Goals - Step 2

Broker/Agent Social Network - Matthew Ferry's video - How to Manifest Your Goals - Step 2

Step 2 of Matthew Ferry's "8 Steps to Manifest Your Goals":

"Keep doing what you're doing!"

"What-Ever!"

"Play the contribution game!"

"Seek to understand!"

"Be open!"

Love the "Contribution Game" philosophy! Can't wait for Step 3!!!

Broker/Agent Social Network - Matthew Ferry's video - How to Manifest Your Goals - Step 1

Broker/Agent Social Network - Matthew Ferry's video - How to Manifest Your Goals - Step 1

I've read Rhonda Byrne's, THE SECRET, and I believe in the "Law of Attraction", so it's interesting to observe how some of of us incorporate this powerful energy into our passion and purpose.

This is the first of a series of videos from Matthew Ferry available at BrokerAgentSocial.com, a real estate specific "social network". I will post one video of each of the sequential "steps" each day until we've seen them all and comment on how these "steps' may be applied to real estate.

Today's video from Matthew, focuses on "Step One"; allowing the things we picture for ourselves to happen! It's one thing to have the "vision", it's another to "allow" that vision to manifest itself into our reality.

From the local real estate perspective, we can apply this "step" to the business goals we set for ourselves as real estate practitioners; having written goals is good but "allowing" those goals to become our reality is even better!

Bad News for Builders may be Good News for REALTORS

The Asbury Park Press ran an article on the front page of their Business Section today entitled, Bad news besets Shore builders. Despite the dramatic headline, author, David P. Willis' article suggests that the "bad news" for builders may be "good news" for REALTORS!

Mr. Willis references Economist, Patrick J. O'Keefe, Director of Economic Research at J.H.Cohn LLP, who spoke to the gathering of the Shore Builders Association of Central Jersey Inc. at the Quality Inn in Toms River, on Wednesday night. According to Mr. O'Keefe, "The health of the new home market depends on the resale market. Sales of existing homes in New Jersey hit a bottom in the fourth quarter at an annualized rate of 110,000 homes a year."

The result of this "bottom" was about an 8 percent decline in home prices last year in New Jersey, compared with a 4 or 5 percent decline the year before. These lower home prices, coupled with "historically" low mortgage rates make for a more affordable home for New Jersey's average family!

And while Mr. O'Keefe sees home prices continuing to fall in the first half of 2009, New Jersey has not accumulated the same surplus of housing as many other states like California. So, "after continuing to decline in the first half of the year, resale home prices will begin to move up. It will change the psychology of the market. People will gain confidence that if they buy the house today, it will be worth at least as much, if not more, in the future."

So, potential home-buyers in New Jersey, the first half of 2009 is the time to get off the fence! Affordable home prices, and the absolute lowest mortgage rates in history, make this the BEST TIME to buy a home in recent history.

Relay for Life Kick Off Party in Toms River!

YOU are Invited to the

Relay For Life of Toms River

Kick Off Party

At the Ritacco Center!

Join the party and find out how you can help us CELEBRATE, REMEMBER and FIGHT BACK! 

January 16, 2009

7-9pm

Poland Springs Arena, Ritacco Center

Old Freehold Road, Toms River

Please RSVP 1.800.ACS.2345

For more info; http://main.acsevents.org/site/TR?pg=entry&fr_id=14162

 
 

2008 Year End Wrap Up for Toms River, NJ

The best thing that could be said about 2008 Real Estate in Toms River, NJ; "It's OVER!"

Looking at the numbers (2008 compared to 2007):

SALES of "Single Family Homes" in Toms River, were DOWN almost 15%
The Average Listing Price for a "Single Family Home" was DOWN about 6.5%
The Average Sales Price for a "Single Family Home" was DOWN about 6.5%
The Sales Price to List Price Ratio remained STEADY at roughly 94%
The Average "Days on the Market" remained STEADY at roughly 94 days
There is currently 12 months of inventory AVAILABLE (SAME as this time last year)!
What does it ALL mean?

The answer, in my opinion; PENT UP DEMAND in 2009!

Today's Home-Buyer in Toms River, NJ, knows TIME is on their side. They know SALES are DOWN and PRICES are FALLING. They also know how much inventory is AVAILABLE and what the average DAYS ON THE MARKET are. All they have to do is go to Trulia or Zillow for that information!

With 30 Year Fixed Rate Mortgages hovering around 5.25% in New Jersey (to qualified buyers), today's Home-Buyer WANTS to BUY!

The INCREASE in traffic to, and the AMOUNT OF TIME visitors are spending on, real estate sites such as Realtor.com, validate the PENT UP DEMAND theory!

What will it take to get the home-buyers OFF the proverbial FENCE in 2009?

Simple Answer; If you HAVE TO SELL your home in Toms River, NJ, PRICE it 10% UNDER the CURRENT MARKET VALUE for your home!

Obviously, there's MORE involved to SELLING a home in Toms River, NJ. To MAXIMIZE the HIGHEST POSSIBLE PRICE for your home in 2009, a SELLER should speak with a "Marketing & Sales Professional" with a proven track record in their specific neighborhood!

Top 10 Project Paybacks in Toms River, NJ

According to Remodeling Magazine's, 2008 Cost vs. Value Report, 9 out of the top 10 project paybacks are "exterior" remodeling projects: 

Once again, exterior remodeling projects lead the way for recovery on dollars spent in this year's Cost vs. Value survey. When you compare the national averages, replacement projects that boost curb appeal—siding, windows, and decks—give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level. 

1. Upscale fiber cement siding (86.7%)

2. Midrange wood deck (81.8%)

3. Midrange vinyl siding (80.7%)

4. Upscale foam-backed vinyl (80.4%)

5. Midrange minor kitchen remodel (79.5%) 

6. Upscale vinyl window replacement (79.2%)

7. Midrange wood window replacement (77.7%)

8. Midrange vinyl window replacement (77.2%)

9. Upscale wood window replacement (76.5%

10. Midrange major kitchen remodel (76.0%)

So, if you have to sell and you've made any of these improvements to your property in the last year, all is not doom and gloom. Today's BUYER sees the value in these remodeling projects and is willing to pay you back on your investment!

 

 

Part 2: Insanity Wins a Round

They say the sequel is always worse than the original. Well, here's the response I received from yesterday's "Unfortunate Seller". You be the judge:

"Thank you for your input.  The house is empty now and we already have another home.  We realize we will have to drop the price, but we're trying to minimize our loss.  We purchased it in 2006 on the high side at $***,*** because of it's upgrades.  Along with reducing the price (we're not sure yet to what, but not by $100,000), we are shopping around for a realtor who will reduce the commission so that we can at least minimize our loss."

Am I the only one who sees a whole lot of "pain" in their future? Not "pain" in the compound fracture sense, but "pain" in the incapability of accepting the reality of their situation sense.

"…but not by $100,000"…

"…so that we can at least minimize our loss."

These poor souls actually "believe" someone is going to buy their home. Hopefully, they are well off enough to survive the next decade owning two homes. Did I mention this particular home is located in a "Retirement Village"? Hopefully, their "Retirement Fund" doesn't also include a 401K!

Here's my reply to their response:

"I empathize with your situation.  My wife and I purchased a "brand new" home in 2005; it's worth $120,000.00 less now!

Unfortunately, the local real estate market is not going to improve anytime soon.  In my professional opinion, prices will not return to 2006 levels for at least another 10 years.  Do you have that much time to "waste" chasing the market?  How much is this home costing you in carrying costs (taxes, association fees, maintenance, etc.)?  And, as your home is unoccupied at this time, it makes selling in this market even more challenging!

If you really want to "minimize" your losses, hire a "sales and marketing" professional based on their success in selling in this market NOT a "listing" brokerage based on commission…that will only prolong the pain and end up costing you more!  I apologize for sounding so negative but telling you anything but the truth would be a greater disservice."

Does anyone think I will get another response?