September Market Seminar Par II

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part II of todays presentation

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  • 28
  • Create your own table to approach the aspects of the marketplace that you consider most relevant and valuable to your associates. For ideas on what to cover, refer to the tables in the Planning Day Presentation on your Planning Day 2005 CD. For example, you might discuss the market conditions of different communities or price ranges each week.
  • Review the generic sample calculation and/or a customized calculation you prepared for your office market area. Follow the instructions below to update this slide with customized information for your office. Save the Sales Meeting Guide presentation to your C drive. Open the Sales Meeting Guide presentation from your C drive. Scroll down to the “Sample Market Absorption Rate” slide in the weekly training section of the presentation. Double-click on the slide to be able to make edits. Click in each section of the formula to edit text. Save the document to save edits.
  • Review the generic sample calculation and/or a customized calculation you prepared for your office market area. Follow the instructions below to update this slide with customized information for your office. Save the Sales Meeting Guide presentation to your C drive. Open the Sales Meeting Guide presentation from your C drive. Scroll down to the “Sample Market Absorption Rate” slide in the weekly training section of the presentation. Double-click on the slide to be able to make edits. Click in each section of the formula to edit text. Save the document to save edits.
  • New Stats Pulled Off StagedHomes.com
  • Review the generic sample calculation and/or a customized calculation you prepared for your office market area. Follow the instructions below to update this slide with customized information for your office. Save the Sales Meeting Guide presentation to your C drive. Open the Sales Meeting Guide presentation from your C drive. Scroll down to the “Sample Market Absorption Rate” slide in the weekly training section of the presentation. Double-click on the slide to be able to make edits. Click in each section of the formula to edit text. Save the document to save edits.
  • Review the generic sample calculation and/or a customized calculation you prepared for your office market area. Follow the instructions below to update this slide with customized information for your office. Save the Sales Meeting Guide presentation to your C drive. Open the Sales Meeting Guide presentation from your C drive. Scroll down to the “Sample Market Absorption Rate” slide in the weekly training section of the presentation. Double-click on the slide to be able to make edits. Click in each section of the formula to edit text. Save the document to save edits.
  • Review the generic sample calculation and/or a customized calculation you prepared for your office market area. Follow the instructions below to update this slide with customized information for your office. Save the Sales Meeting Guide presentation to your C drive. Open the Sales Meeting Guide presentation from your C drive. Scroll down to the “Sample Market Absorption Rate” slide in the weekly training section of the presentation. Double-click on the slide to be able to make edits. Click in each section of the formula to edit text. Save the document to save edits.
  • Review the generic sample calculation and/or a customized calculation you prepared for your office market area. Follow the instructions below to update this slide with customized information for your office. Save the Sales Meeting Guide presentation to your C drive. Open the Sales Meeting Guide presentation from your C drive. Scroll down to the “Sample Market Absorption Rate” slide in the weekly training section of the presentation. Double-click on the slide to be able to make edits. Click in each section of the formula to edit text. Save the document to save edits.
  • Review the generic sample calculation and/or a customized calculation you prepared for your office market area. Follow the instructions below to update this slide with customized information for your office. Save the Sales Meeting Guide presentation to your C drive. Open the Sales Meeting Guide presentation from your C drive. Scroll down to the “Sample Market Absorption Rate” slide in the weekly training section of the presentation. Double-click on the slide to be able to make edits. Click in each section of the formula to edit text. Save the document to save edits.
  • September Market Seminar Par II

    1. 1. 2. ‘I am going to time the Market and buy at the peak inventory level and when no one else buys…’ Source: MLS
    2. 2. Source: MLS Weekly Guests Thru the Weichert Princeton Open Houses, 2007
    3. 3. Source: MLS Inventory Levels, Princeton, New Jersey, 2007
    4. 4. 3. ‘I am going to wait until the price comes down further and then make an offer…’ Source: MLS
    5. 5. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
    6. 6. Town by Town Analysis 8/18/09 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings South Brunswick All Styles 208 24 8 43 19 35 16% 27 6 4 South Brunswick Condo/ T.Houses 70 9 7 21 12 19 14 6 3 1 South Brunswick 55+ 31 6 5 2 (4) 4 12 4 0 0 South Brunswick Single Family 109 9 12 20 11 21 19 17 3 0 Monroe: All Styles 487 39 12 92 53 105 21% 41 7 9 Monroe: 55+ 312 29 10 53 24 68 21% 22 6 1 Monroe: Single Family 175 10 21 39 29 37 21% 19 1 0
    7. 7. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
    8. 8. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
    9. 9. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
    10. 10. Seeing the Opportunity.
    11. 11. Seeing the Opportunity. <ul><li>Q. If this were 2005, where would you place the Price and Rate dots? </li></ul>Prices Rates High Mid-Range Low A. In 2005, the V would look somewhat like this one, where prices were on the high end of the scale and rates were in the lower range.
    12. 12. Seizing the Opportunity. <ul><li>In recent history, there has never been an opportunity like this, with low prices and low rates. In real estate, this circular area at the bottom of the V is called the “Buying Zone” – it’s an unbelievable time to buy. </li></ul>Prices Rates High Mid-Range Low
    13. 13. Jeff Smith, Gold Services Manager/ Loan Officer Financial Benefits and Process of Home-Ownership.
    14. 14. ‘ I don’t want to buy a house and then watch it drop in value!’
    15. 15.   Purchase Price $329,000 Loan Amount $317400 Down Payment $11,515 Monthly P&I $1802 Appreciation/Depreciation Home Value 1st Year -3% $319,130 2nd Year 0% $319,130 3rd Year 1% $322,321 4th Year 3% $331,990 5th Year 5% $348,590 5 Year Appreciation/Depreciation $19,500 Tax Benefit   Vs Paying Rent @ $1600/mo 1st Year $5,000 $19,200 2nd Year $5,000 $19,200 3rd Year $5,000 $19,200 4th Year $5,000 $19,200 5th Year $5,000 $19,200 5 Year Total $25,000 $96,000 Total Gain $44,200 Create Equity v Pay Rent
    16. 16. + The Amortization Schedule on a Loan = Total 5 Year Gain: $59,922 Yearly Schedule of Balances and Payments Year Beginning Balance Payment Principal Interest Cumulative Principal Cumulative Interest Ending Balance 2010 $315,646.96 $21,625.92 $4,374.96 $17,250.96 $6,128.00 $24,508.72 $311,272.00 2011 $311,272.00 $21,625.92 $4,621.30 $17,004.62 $10,749.30 $41,513.34 $306,650.70 2012 $306,650.70 $21,625.92 $4,881.98 $16,743.94 $15,631.28 $58,257.28 $301,768.72 2013 $301,768.72 $21,625.92 $5,157.36 $16,468.56 $20,788.64 $74,725.84 $296,611.36 2014 $296,611.36 $21,625.92 $5,448.28 $16,177.64 $26,236.92 $90,903.48 $291,163.08
    17. 17. Incentive From the Government First-time homebuyers can receive a tax credit up to $8000!
    18. 18. Tax Credit Overview Distribute NAR Tax Credit Overview handout Amount Ten percent of the cost of home, not to exceed $8,000 Property Any single family residence that will be used as a principal residence Refundable Reduces income tax liability for the year of purchase Income Limit Adjusted gross income of $75,000 single or $150,000 joint tax returns First-Time Must not have owned a principal residence in 3 years prior to purchase
    19. 19. Tax Credit FAQs <ul><li>Can individuals with incomes higher than the income limits still benefit from the tax credit? </li></ul><ul><li>How does a tax credit work? </li></ul><ul><li>How do I apply for the credit? </li></ul><ul><li>Is there a way to get the credit before I file my tax return? </li></ul>Distribute NAR Frequently Asked Question handout
    20. 20. How much house can I really afford?
    21. 21. <ul><li>The first step is to meet with me! </li></ul>Establish Your Buying Power
    22. 22. Factors to consider when buying and selling… Source: MLS Inventory(supply and demand) Interest Rates
    23. 23. Interest Rates Remain Low Source: Freddie Mac
    24. 24. Joshua D. Wilton, Manager Strategies for Selling
    25. 25. Understand the Market You’re Selling Out Of Princeton Boro & Twp 5-6 Months Market Absorption Rate indicates a normal market. Active Pending Absorption Rate $0 - $700,000 48 11 4 months $700,000 - $999,000 35 1 35 months $1M - $1.5M 28 4 7 months $1.5M + 59 3 20 months
    26. 26. The Impact of Pricing on the Salability of Your Home..…
    27. 27. ‘ Great speech but does it really work?
    28. 28. We know the best way to evaluate pricing <ul><li>Does this really work? </li></ul>
    29. 29. We know the best way to evaluate pricing <ul><li>Does this really work? </li></ul>
    30. 30. 2 . The Effect of Staging on the Value of a Your Home .
    31. 31. The process of preparing homes for sale regardless of Price, Location, or Condition To achieve the maximum sales price in the minimum marketing time. The GOAL is to appeal to the broadest range of BUYERS .
    32. 32. Non-Staged The Way You Live In Your Home…
    33. 33. … And The Way We Market And Sell A House Are Two Different Things. Staged
    34. 34. “ The Investment in Home Staging is Always Less than Your First Price Reduction!”
    35. 35. Non-Staged Buyers Only Know What They See …
    36. 36. … Not The Way It Is Going To Be. Staged
    37. 37. Based on a StagedHomes.com survey of over 400 homes across Canada & the Continental US prepared for sale by an Accredited Staging Professional (ASP™) from June 2007 through November 2007.
    38. 38. Why Promote Home Staging ? The average increase in sales price of an ASP Staged vs. non-Staged home is 6.9% . That is an additional $31,050 on a $450,000 sale.
    39. 39. The average marketing time of an ASP Staged vs. non-Staged home is 80% less . Why Promote Home Staging ?
    40. 40. 3. The Effect of ‘ Pre-Inspection’ on the Sale of Your Home.
    41. 41. What is ‘ Pre-Inspection?’
    42. 42. Home Inspection WHAT DOES PRE-INSPECTION INCLUDE? The standard home inspector's report will review the condition of the home's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement, and visible structure.  
    43. 43. PRE-LISTING Home Inspection DOESN’T THE BUYER DO THE HOME INSPECTION?
    44. 44. All Negotiations, including real estate, are all about negotiation and control. Who is in control? Right Price Right Staging All Repairs are done in advance. Offer a Home Warranty to the buyer..
    45. 45. PRE-LISTING Home Inspection Data on where most sales fall apart: attorney review, home inspection. Fall Thru Percentage 2007: 26% Fall Thru Percentage 2008: 10.2% .
    46. 46. Home Improvements I am moving out of the house, I do not want spend too much money to move. Or I just spent $$ on a new kitchen, I want $$$$$$ back on that investment when I move.
    47. 49. Reality of today’s market is that you will see the return on your investment not in an inflated sales price but in retaining the highest percentage of your list price and staying on the market the fewest # of days. Please consult with your Realtor & staging professional as to which improvements you should finish to make your home the most salable.
    48. 50. Weichert Family of Companies What will a real estate company do for me?
    49. 51. Making Your Purchase as Smooth as Possible Buying a home involves the careful coordination of many people. Choosing a real estate team you can count on will make the process smoother and easier.
    50. 52. <ul><li>Time is money. </li></ul>The Weichert Difference <ul><li>Stress kills. </li></ul><ul><li>Time is life. </li></ul>
    51. 53. <ul><li>Educate You. </li></ul><ul><li>Negotiate on your behalf. </li></ul><ul><li>Offer advice on due diligence. </li></ul><ul><li>Manage all aspects of the transaction process. </li></ul>What Will a Weichert Agent Do for Me?
    52. 54. We’re Here to Help <ul><li>The Entire Process is reviewed by Legal Council. </li></ul>
    53. 55. Become a Fan! www.facbook.com/weichertprinceton www.slideshare.net/jdwilton www.twitter.com/joshuawilton Presentation available at all 3 sites, download file through Monday.
    54. 56. Resource and website list: <ul><li>Realtor.org </li></ul><ul><li>http://www.facebook.com/pages/ </li></ul><ul><li>NAR-Research/73888294183# </li></ul><ul><li>Remodeling.com </li></ul>
    55. 57. Resource and Website List <ul><li>http://www.realtor.org/research/research/housinginx Remodeling.com </li></ul><ul><li>www.Otteau.com </li></ul><ul><li>www.Pre-listing-inspection.com </li></ul>
    56. 58. Resource and Website List: <ul><li>www.Housemaster.com </li></ul><ul><li>www.Stagingshoppingcenter.com </li></ul>
    57. 59. Resource and website list: <ul><li>www.Stagedhomes.com </li></ul><ul><li>www.realestatestagingassociation.com </li></ul><ul><li>www.foreclosurepoint.com </li></ul><ul><li>www.realtytrac.com </li></ul>
    58. 60. Good Luck with your Move!

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