Counsellors Title Agency's Winter 2013 Newsletter.

1. FAST Title
COUNSELLORS TITLE AGENCY
TITLE WISE
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Counsellorstitle.com Winter 2013
U.S. Real Estate Market Stages a
Comeback in 2012
Welcome to Title Wise
As we make our way into the
Zillow, the real estate market research firm, stated that it projects
that U.S. homes should gain more than $1.3 trillion in
7 Trends
For
New Year, many business cumulative value for 2012. This figure represents the first annual
owners look to make certain gain in more than five years and the largest since 2005. Zillow
resolutions in order to bring estimates that the total U.S. housing market is approximately
about higher profitability. But
2013 will present certain
$23.7 trillion. This represents a 6% increase from 2011.
2013
challenges for those of us in In 2011, cumulative home values fell almost $792 billion from
New Jersey specifically due to 2010.
Hurricane Sandy and a weak
economic climate. Four areas
for growing our business in
The Statistics:
+ The gain in cumulative home values is the first annual increase
 Mobile surpasses
desktop computing
2013 are: since 2006.
Quality: going the extra mile,
+ Cumulative home values fell each year from 2007 through
2011.
 become more
Images
important
making the extra phone call, + The largest cumulative home value drop occurred in 2008 -
writing the extra thank you
note, and doing whatever is
$3.2 trillion in lost value.
+ More than 75% of the 177 metro areas included in the analysis
 key
Personalization
becomes
necessary to stand out. experienced cumulative home value gains in 2012.
Execution: having the staffing,
equipment and resources to
+ Philadelphia was the only large metropolitan region that failed
to record an annual gain in cumulative home values.
 Marketing
Local
grows in value
deliver the best service. + For the 30 largest metro regions, Los Angeles posted the
Knowledge: as our business
largest gain of $122.1 billion, followed by San Francisco at
$93.3 billion, San Jose in California at 54.7 billion, Phoenix at
 offers
Flexibility with
different
environment becomes more $52 billion and Miami-Fort Lauderdale at $47.5 billion.
regulated, taking the time to
keep current with any changes
in our industry.
Zillow’s chief economist expects value gains to continue into consumersis expected
Integration
by
2013.
Technology: keeping in touch
with you - our customer.  to breed trust
Authenticity the
currency
By incorporating these four After a year of massive
elements into every business growth in smartphone
transaction, New Jersey can adoption, nobody is
tangibly demonstrate why doing questioning the importance
business in our state is better. of mobile anymore.
I look forward to working and Businesses will be required
serving our industry and our to adapt to the numbers of
communities together. Counsellors Title Agency, Inc. individuals owning
504 Hooper Ave. | Toms River, NJ 08753 | Phone: (732) 914-1400 smartphones moving
Ralph Aponte forward.
Founder & President Ralph@counsellorstitle.com www.counsellorstitle.com
732-914-1400

2. Price Recovery Will Slow:
But the Trend Stays Strong
How Counsellors Title Despite beginning the year “The housing landscape,
News from the
Serves You with market lows, most home however, could quickly shift
prices gained momentum should the broader economy
Counsellors Title understands toward the end of 2012,
finishing the year at 4.9%
tumble back into recessionary
territory,” Villacorta noted. Counsellors
the importance of details and
preparation. Our team year-over-year price gains.
Some markets, though they
“Whether by perception or
actual decrease in buying power Blog:
collectively represents over a
century of title expertise. are few, may also suffer a
backslide in values.
for the average consumer,
residual effects of the fiscal
Mortgage Apps
Counsellors has been part of
thousands of real estate According to the latest Clear
cliff deal could cause housing
to change course. But as it
Jump 12%
transactions, from the first Capital home data report, stands now, home prices have
home buyer, to the commercial The report for the Mortgage
national home prices are continued to show resiliency by
property investor and recently Bankers Association [MBA]
expected to increase by only posting their largest yearly gain
with hundreds of home re- in nearly two and a half years.”
showed that mortgage
2.1% this year. The 2013
financings at lower rates. … applications for the week
yearly gains are expected to be
The Northeast saw the lowest ending Jan. 4 jumped up
Counsellors takes every smaller partly because homes
are starting on a higher price rate of annual growth at 1.5%. nearly twelve percent to
purchase seriously, and our
expert team works together base, but the entire This year is projected to be very 11.7% ˗ despite interest rates
with attorneys, real estate explanation is more complex similar to 2012, with yearly edging higher for the same
salespersons and loan officers than that, Clear Capital notes. gains expected to hit only 1.4%. period.
to bring it all together, The report from the MBA
performing extensive research Furthermore, Alex Villacorta, “At the end of the day, there are noted both refinancing and
in areas that could impact the Director of Research and still plenty of great deals to be purchase activity rose from a
property’s title. We look to Analytics, warns that this had across the country, week earlier by 12% from the
eliminate any areas that might could change at a moment’s investors looking for decent previous week.
contribute to a defective title. notice. return, and pent-up homebuyer Still, when compared to the
demand on the verge of
We prepare a title report, called pre-holiday period two weeks
materializing,” Villacorta
a commitment, which indicates earlier, the index edged up a
added.
the current status of title prior little less than 1%.
to closing to determine whether The purchase index also rose
The report projects that 2013
there are any problems in the 10% from the previous survey,
will continue to grow at a
“chain of title.” When
healthy pace, although the but is down 2% from the pre-
Counsellors finds these
chances of a robust recovery are holiday period two weeks ago.
defects, we seek to remove
slim as there is less ground to Overall, refinancing activity
them and eliminate the
make up. still made up 82% of all
property’s exposure to future
Mergus serrator swimming a mortgage applications.
claims following the purchase.
Jersey Lake in Winter “While a larger economic
setback could easily change the
course for the worse, current
rates of growth signal the
market is slowly calibrating
Counsellors Title Agency, Inc. specializes in providing to pre-bubble rates and Title Agency, Inc.
itself title Counsellors
insurance, title search services and loan closing services reportMr. Ralph Aponte
prices,” the concluded.
serving attorneys, Realtors, banks and various Title insurance also protects the
mortgage President
companies throughout the State of New Jersey. CTA offers full
lender's financial interest in the Agency, Inc.
Counsellors Title
search and insurance capabilities within all 21 counties ofproperty against loss dueAve.
real New 504 Hooper to
Jersey for commercial, residential and new construction title, liens, River, NJ 08753
defects in Toms
purchases in both our Toms River and Linden judgments, unrecorded liens, 914-1400
locations. Phone: (732)
code enforcementFax: (732) 914-8898
CTA is equipped with the latest digital technologies to ensure a violations,
complete and timely transaction. unpaid Ralph@counsellorstitle.com
city liens, water bills,
etc. When a lien is discovered
www.counsellorstitle.com
in a title search, it will cause the
title to be “clouded” (defective
title), thus causing the title to be
unmarketable. This means that
the buyer is willing to risk the