July 2009 Market Seminar

560 views

Published on

Presentation from the Weichert Princeton July 2009 Market Update. Offers analysis and insights into the real estate market trends in Princeton and the Greater Princeton NJ real estate markets.

Published in: Real Estate, Business, Technology
  • Be the first to comment

July 2009 Market Seminar

  1. 1. Weichert, Princeton Office July Market Update Seminar Offers analysis of the Princeton and Greater Princeton, NJ real estate markets & effective strategies to buy and sell.
  2. 2. Presented by: Joshua D Wilton Broker/ Sales Representitive Weichert Realtors Princeton, NJ O 609-921-1900
  3. 3. Agenda 1. The Market 2. Strategies for Buying 3. Strategies for Selling
  4. 4. Agenda 1. The Market: - The National Economy…
  5. 5. Chrysler in Bankruptcy…GM Next…Over 1000 Chrysler Dealers to be shuttered… Source: Autodata
  6. 6. Consumer Sentiment Not This Low Since Early 1980s • U.S. Economy: Consumer Sentiment Falls on Job Losses • By Shobhana Chandra and Bob Willis • 1966Q1 = 100 July 10 (Bloomberg) -- Sentiment among U.S. consumers, whose spending is critical to an economic recovery, dropped in July after four months of gains as unemployment approached 10 percent. • The Reuters/University of Michigan preliminary index of consumer sentiment fell by more than forecast to 64.6 from 70.8 in the prior month. A separate report from the Commerce Department showed the trade deficit unexpectedly narrowed in May to the lowest level in almost a decade. • Unemployment is rising even as economists predict an end to the recession in coming months. Consumers in the survey said they are less likely to buy cars or appliances, suggesting that the recovery may be weaker than anticipated. www.bloomberg.com Source: University of Michigan
  7. 7. http://data.bls.gov/PDQ/servlet/SurveyOutputServlet? data_tool=latest_numbers&series_id=LASST34000003
  8. 8.                                           Thursday, January 1, 2009 
  9. 9. 2009: Foreclosure Forecast Within Company-Owned Footprint Over 1800 Foreclosure in Mercer County. Less than 72 foreclosures in 08540 (3 townships). Less than 27 foreclosures in West Windsor. Majority of the 1800 are in Trenton. - foreclosurepoint.com
  10. 10. Home Price Trends in Down Markets: Big Declines in Subprime Neighborhoods Yellow – Conforming Loans Only (OFHEO) Orange – All Loans including subprime and jumbo loans (Case-Shiller) Red – Subprime Loans (NAR estimate based on subprime weight)
  11. 11. Where is the bottom of the market? “The effects (of foreclosures) are continued declining prices….probably another 5-8%* to the bottom. As for the effect of foreclosure pricing, all of these problems are causing home prices to go lower than is necessary from an affordability perspective. That’s because everyone is now worrying about job security. As a result, the recovery will take place at a faster pace once it gets started.” – Jeff Otteau (otteau.com- January 2009)
  12. 12. What about the Real Estate Markets….?
  13. 13. Pending Home Sales Record Fourth Straight Monthly Gain Washington, July 01, 2009 Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the National Association of Realtors®. The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in May, increased 0.1 percent to 90.7 from an upwardly revised reading of 90.6 in April, and is 6.7 percent higher than May 2008 when it was 85.0. The last time there were four consecutive monthly gains was in October 2004.
  14. 14. “Everything I am seeing tells me we have arrived at the bottom of the market, specifically in the popular and affordable price ranges.” J. Weichert 6/2009
  15. 15. Recovery Has Begun 49.8% Increase in Sales $300,000 & Under May YTD reported internal revenue units
  16. 16. Sales by Price Range
  17. 17. Positive Indicators Across the Board….1st time in 4 years….! Source: NAR
  18. 18. The Otteau Report comes from an objective third-party appraisal company that provides regular market updates to developers and consumers.
  19. 19. Where is the bottom of the market?
  20. 20. Where is the bottom of the market?
  21. 21. Share Yesterday at 12:43pm Quick Take: Housing Starts and Bank Profits Where is the bottom of the market? July 17, 2009 By Lawrence Yun, Chief Economist www.realtor.org •Homebuilders are getting busier. Housing starts rose 4 percent to 582,000 annualized unit pace in June, the highest six months and over 100,000 higher from the pace just two months ago. The construction of single- family homes advanced while that of multifamily units declined. But even with the latest rise, new construction activity is still down by 46 percent from one year ago. Recent prior months data were modestly revised upward.
  22. 22. Share Yesterday at 12:43pm Quick Take: Housing Starts and Bank Profits Where is the bottom of the market? July 17, 2009 By Lawrence Yun, Chief Economist www.realtor.org •At the bubblish peak in 2005, new home construction totaled 2.1 million units. So the current activity is only about one-quarter of the peak level. Clearly unsustainable then, but the four straights years of housing starts decline has translated into over one million job losses in the residential construction sector. The latest rise in building could arrest further job cuts in the sector. •Perhaps the worst is over. Home sales have been rising modestly in the past few months. The builders took our more housing permits, a good indicator of future housing starts. Still inventory of existing homes remain elevated (nationally) and the builders will have difficult time competing….
  23. 23. Less New Construction in Mercer Source: NAR, November 2008 Forecast Richardson Commercial
  24. 24. The Local Inventory and Sales Patterns: Source: NAR, November 2008 Forecast
  25. 25. 07 07 Active 08 08 08 Active Inventory 07 Pending 07 Abs. w/ Inventory Pending 08 Abs. w/ 09 09 Ct sales Rate Contracts Ct Sates Rate Contracts Inventory Ct Pendings 09 Abs. Rate Pton Boro 72 3 24.0 2 51 2 25.5 6 47 15 3.1 Pton Twp 136 14 9.7 3 113 6 18.8 9 152 15 10.1 W. Windsor 179 19 9.4 11 140 24 5.8 24 107 41 3.0 Lawrence 230 22 19.1 8 209 19 11.0 14 187 34 5.5 East Windsor 228 16 14.3 4 214 24 8.9 12 191 32 6.0 Ewing 289 22 13.1 5 244 11 22.2 7 237 29 8.0 Hamilton 562 57 9.9 0 640 41 15.6 24 583 101 6.0 Hopewell Twp. 208 11 18.9 9 144 16 9.0 18 175 14 12.5 Cranbury 36 5 7.2 1 37 2 18.5 3 0 0 0.0 Plainsboro 151 16 9.4 4 113 13 8.7 7 0 0 0.0 South Brunswick 241 32 7.5 19 0 0 0.0 0 223 21 10.0 Montgom. 171 38 4.5 68 140 36 3.9 40 148 38 3.9 Cum. 2503 255 9.8 134 2045 194 10.5 164 2050 340 6.0 Inventory is a combined 20% lower in the above communities than in 2007.
  26. 26. Lawrence Active Inventory 300 250 200 150 Lawrence Actives 100 50 0
  27. 27. Princeton Twp. Inventory 180 160 140 120 100 Twp. Inventory 80 60 40 20 0
  28. 28. Princeton Boro. Active Inventory 80 70 60 50 40 Boro Activities 30 20 10 0
  29. 29. West Windsor Active Inventory 250 200 150 West Windsor Actives 100 50 0
  30. 30. Plainsboro Active Inventory 180 160 140 120 100 Plainsboro Actives 80 60 40 20 0
  31. 31. 50 0 100 150 200 250 6 0 2 1 / 4 0 2 1 / 6 6 0 2 1 / 8 6 2 / 0 1 6 0 / 2 1 7 0 1 / 2 7 0 2 1 / 4 7 0 2 1 / 6 7 0 2 1 / 8 7 2 / 0 1 7 0 / 2 1 8 0 1 / 2 8 0 2 1 / 4 8 0 2 1 / 6 0 2 1 / 8 8 2 / 0 1 8 0 / 2 1 9 0 1 / 2 9 0 2 1 / 4 9 0 2 1 / 6 East Windsor Active Inventory East Windsor Actives
  32. 32. •With few exceptions (Princeton Township, Hamilton and Ewing, Inventory in Mercer County is down compared to the last several years. •Absorption Rates in the majority of towns are lower, suggesting an improved sales performance, specifically in the lower price ranges in each town and product line (is single family, townhouses, etc. •The most expensive homes in each Community will have the slowest pace of sales and continued depreciation. • The 55+ Active Adult market will continue to struggle.
  33. 33. While continuing economic challenges lie ahead, it’s instructive to remember that the housing market tends to lead the economy in-to and out-of recession. … Building on last month’s column as to what a housing recovery will look like – more homes selling and fewer to choose from – the New Jersey market continued in the direction of stabilization last month. In May, Contract-Sales continued to rise by equaling the pace from one year ago and appear poised to exceed last year’s sales pace soon. Such a break-through above the prior year’s pace has occurred only 3 times in the past 5 years, in early 2007 and again in July 2007, as the market attempted to stabilize before being swamped by mortgage foreclosures. But different from 2007 when home sales slumped in the critical spring month of April amidst rising foreclosures and falling consumer confidence, this year’s sales pace has risen steadily in each month and now stands 86% higher than the January pace. Source- www.otteau.com
  34. 34. Top Five Rules for Understanding the Real Estate Market: 1. Real Estate is Local 2. Real Estate is Local 3. Real Estate is Local 4. Real Estate is Local 5. Real Estate is Local
  35. 35. 1. Understand the Local Market That You are Buying into…
  36. 36. Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
  37. 37. Town by Town Analysis 7/12/09 Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings 30 Days Months 30 Days Market in 30 Reduced Days Princeton Boro: 47 7 6.7 10 3 12 25% 4 2 6 All Styles Pton -Boro Condo/ 13 0 99 5 5 2 15% 1 2 0 Thouses Pton-Boro Single 34 7 4.85 5 (2) 10 29% 3 0 6 Family Pton Twp: All Styles 152 8 19 31 23 26 17% 8 9 22 Pton Twp: Condo/ 21 1 21 5 4 3 14% 1 1 7 Thouses Pton Twp: Single 131 7 18.1 26 19 23 18% 7 8 15 Family
  38. 38. Town by Town Analysis 7/12/09 Towns Active Pending Absorption New Net Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in Gain Reduced Invent. Listings Listings Listings 30 Days Months 30 Days (Loss) to in 30 Days Reduced Market West Windsor: 107 41 3 23 (18) 40 37% 8 9 49 All Styles West Windsor 18 11 2 10 (1) 8 44% 1 5 18 Condo/ T.Houses West Windsor 6 0 99 - - - - - - - 55+ West Windsor 83 31 3 13 (19) 32 39% 7 4 31 Single Family Lawrence: All Styles 187 34 5.5 39 5 54 30% 11 12 35 Lawrence: Condo/ 82 14 6 19 5 21 26% 5 5 18 THouses Lawrence: 55+ 13 0 99 - - - - - - - Lawrence: Single 92 20 5 20 0 33 36% 6 7 17
  39. 39. Town by Town Analysis 7/12/09 Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings 30 Days Months 30 Days Market in 30 Days Reduced Ewing: All Styles 237 29 8 58 29 47 20% 20 5 26 Ewing : Condo/ 42 8 5 6 (2) 10 24% 2 1 4 T.Houses Ewing: 55+ 2 0 99 - - - - - - - Ewing: Single 195 21 9 52 27 37 19% 18 4 22 Family East Windsor: 191 32 6 42 10 35 18% 14 6 34 All Styles East Windsor: 95 18 5 26 8 18 19% 7 32 15 Condo/ THouses East Windsor: 20 0 99 - - - - - - - 55+ East Windsor: 76 14 5 16 2 17 22% 7 4 19 Single Family
  40. 40. Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
  41. 41. Absorption Rate by Price Range Weichert has been studying market  conditions for more than 3 decades and has  found a direct correlation between market  absorption and property values.   As absorption rates increase beyond a  normal market level of 5-6 months, property  values depreciate annually.  
  42. 42. Sample Market Absorption Rate Anytown., NJ 107 current active listings 24.3 = months absorption 4 reported sales in last 30 days rate 5-6 Months Market Absorption Rate indicates a normal market.
  43. 43. Princeton Borough Absorption Rate By Price Towns Active Listings Pending in Last Absorption Rate in 30 Days Months 8 1 8 0-$500 $500-750k 8 3 2.6 $750-999 7 2 3.5 $999-$1.5 11 0 99 million $1.5 million + 13 1 13
  44. 44. Princeton Township Absorption Rate By Price Towns Active Listings Pending in Last Absorption Rate in 30 Days Months 12 1 12 0-$500 $500-999k 54 4 13.5 $999-1.5 29 1 29 $1.5-2.5 34 1 34 $2.5 + 21 1 21
  45. 45. West Windsor Absorption Rate By Price Towns Active Listings Pending in Last Absorption Rate in 30 Days Months 46 12 3.83 0-$500 $500-750k 36 11 3.27 $750-999 20 3 6.6 $999 + 6 0 99
  46. 46. Lawrence Absorption Rate By Price Towns Active Listings Pending in Last Absorption Rate in 30 Days Months 134 16 8.3 0-$400 $400-650 44 7 6.2 $650-999 11 1 11 $999 + 8 0 99
  47. 47. Ewing Absorption Rate By Price Towns Active Listings Pending in Last Absorption Rate in 30 Days Months 30 3 10 0-$150 $150-250 126 12 10.5 $250-450 80 4 20 450+ 9 0 99
  48. 48. Hopewell Absorption Rate By Price Towns Active Listings Pending in Last Absorption Rate in 30 Days Months 63 4 15.7 0-$400 $400-$650 46 1 46 $650-999 39 1 39 $999+ 33 0 99
  49. 49. 10 15 20 25 30 0 5 8 0 9 / 2 1 9 0 2 5 / 1 9 0 2 / 1 0 2 9 / 1 9 0 6 2 / 1 9 0 / 2 0 9 / 2 9 0 6 1 / 2 9 0 3 / 2 9 0 2 / 3 0 2 9 / 3 9 0 2 6 1 / 3 9 0 2 / 3 9 2 0 / 3 9 0 2 6 / 4 9 0 2 3 1 / 4 9 0 2 / 4 9 0 7 2 / 4 9 0 2 4 / 5 9 0 2 1 / 5 9 0 2 8 1 / 5 9 0 2 / 5 9 0 2 1 / 6 9 0 2 8 / 6 9 0 2 5 1 / 6 9 0 2 / 6 0 9 2 / 6 9 0 2 6 / 7 9 0 2 3 1 / 7 Lawrence Single Family Absorption Rate Lawrence Single Family Abs. Rate
  50. 50. Princeton Twp. Single Family Absorption Rate 90 80 70 60 50 Princeton Township Single 40 Family Abs. Rate 30 20 10 0
  51. 51. Princeton Boro. Single Family Absorption Rate 120 100 80 Prin ceto n Bo ro 60 Sin g le Family Abs. Rate 40 20 0
  52. 52. West Windsor Condo/Townhouses Absorption Rate 30 25 20 15 West Windsor C/T Abs. Rate 10 5 0
  53. 53. West Windsor Single Family Absorption Rate 80 70 60 50 West Windsor 40 Single Family Abs. Rate 30 20 10 0
  54. 54. East Windsor Condo/Townhouse Absorption Rate 50 45 40 35 30 East Windsor C/T 25 Abs. Rate 20 15 10 5 0
  55. 55. East Windsor Single Family Absorption Rate 90 80 70 60 50 East Windsor Single 40 Family Abs. Rate 30 20 10 0
  56. 56. Understand the Market That You are Buying into… I want to live in Hopewell Twp…
  57. 57. Town by Town Analysis 7/12/09 Towns Active Pending Absorption New Net Gain Listings % of Expired W/drawn Closed Listings in Last Rate in Listings in (Loss) to Reduced Invent. Listings Listings Listings 30 Days Months 30 Days Market in 30 Reduced Days Hopewell Twp. 175 14 12.5 31 17 40 23% 11 7 17 All Styles Hopewell Twp. Condo/ 25 5 5 7 2 6 24% 1 2 1 T.Houses Hopewell Twp.: 4 0 99 - - - - - - - 55+ Hopewell Twp: 146 9 16 24 15 34 23% 10 5 16 Single Family
  58. 58. Market Absorption Rate Hopewell Twp. Townhouses Under $500,000 24 current active listings 8 month =absorption 3 reported ‘pending’ sales in last 30 days rate Market Absorption Rate is the number of months it will take to sell the current inventory of homes if nothing new comes on the market and the rate of sales stays the same 5-6 Months Absorption Rate indicates a Normal Market
  59. 59. Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
  60. 60. Market Absorption Rate Hopewell Twp. Townhouses $200-400k 22 current active listings 5.5 month =absorption 4 reported ‘pending’ sales in last 30 days rate Market Absorption Rate is the number of months it will take to sell the current inventory of homes if nothing new comes on the market and the rate of sales stays the same 5-6 Months Absorption Rate indicates a Normal Market
  61. 61. Market Absorption Rate Hopewell Twp. Townhouses $200-400k 3 bedrooms 17 current active listings 4.25 month =absorption 4 reported ‘pending’ sales in last 30 days rate Market Absorption Rate is the number of months it will take to sell the current inventory of homes if nothing new comes on the market and the rate of sales stays the same 5-6 Months Absorption Rate indicates a Normal Market
  62. 62. 2. ‘I am going to time the Market and buy at the peak inventory level and when no one else buys…’ Source: MLS
  63. 63. Weekly Guests Thru the Weichert Princeton Open Houses, 2007 Gross # of Guests 2007 180 160 140 120 Gross # of 100 Guests 2007 80 60 40 20 0 Source: MLS 0 1/7/2 7 0 4 /2 0 /1 0 7 6 4 0 7 /2 /2 0 9 3 0 7 /2 /2 0 1 /1 /2 0 2 6 0 7
  64. 64. Inventory Levels, Princeton, New Jersey, 2007 250 200 150 100 50 0 1/8/07 3/5/07 4/30/07 6/24/07 8/20/07 10/16/07 12/11/07 Source: MLS
  65. 65. 3. ‘I am going to wait until the price comes down further and then make an offer…’ Source: MLS
  66. 66. Relationship of Price Reductions to ‘Pending Sales’ 70 60 50 Princeton Pendings 40 30 Princeton Price Reductions 20 10 0 Source: trend mls
  67. 67. Town by Town Analysis 5/11/09 Towns Active Pending Absorption Active w/ New Listings Net Gain Listings % of Expired W/drawn Listings in Last Rate in Contract in 30 Days (Loss) to Reduced in Invent. Listings Listings 30 Days Months in 30 Days Market 30 Days Reduced Hopewell Twp.: 172 10 17.2 14 38 14 55 32% 7 4 All Styles Hopewell Twp. : 21 5 4.2 0 6 1 9 43% 2 0 Condo/ T.Houses Hopewell Twp.: 3 0 99 - - - - - - - 55+ Hopewell : Single 148 5 29.6 14 32 13 46 31% 5 4 Family Hamilton: All Styles 583 47 12 41 160 72 143 25% 41 21 Hamilton: Condo/ 88 6 15 6 35 23 38 43% 11 5 THouses Hamilton 55+ 37 0 99 - - - - - - - Hamilton: Single 458 41 11 35 125 49 105 23% 30 16 Family
  68. 68. Relationship of Price Reductions to ‘Pending Sales’ 70 60 50 Princeton Pendings 40 30 Princeton Price Reductions 20 10 0 Source: trend mls
  69. 69. Relationship of Price Reductions to ‘Pending Sales’ 120 100 80 West Windsor Pendings 60 West Windsor Reductions 40 20 0 Source: trend mls
  70. 70. Relationship of Price Reductions to ‘Pending Sales’ 100 90 80 70 60 Lawrence Pendings 50 40 Lawrence Reductions 30 20 10 0 Source: trend mls
  71. 71. Seeing the Opportunity.
  72. 72. Seeing the Opportunity. Prices Rates Q. If this were 2005, High where would you place the Price and Rate dots? A. In 2005, the V would Mid-Range look somewhat like this one, where prices were on the high end of the Low scale and rates were in the lower range.
  73. 73. Seizing the Opportunity. Prices Rates In recent history, there has never been an High opportunity like this, with low prices and low rates. In real estate, this Mid-Range circular area at the bottom of the V is called the “Buying Zone” – Low it’s an unbelievable time to buy.
  74. 74. Financial Benefits and Process of Home-Ownership. Jeff Smith, Gold Services Manager/ Loan Officer
  75. 75. ‘I don’t want to buy a house and then watch it drop in value!’
  76. 76.   Purchase Price $329,000 Loan Amount $281,000 Down Payment $11,515 Monthly P&I $1,590 Appreciation/Depreciation Home Value 1st Year -3% $305,970 2nd Year 0% $305,970 3rd Year 1% $309,030 4th Year 3% $318,301 5th Year 5% $334,216 5 Year Appreciation/Depreciation $5,216 Tax Benefit   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 Create Equity Total $30,216 v Pay Rent
  77. 77. Incentive From the Government First-time homebuyers can receive a tax credit up to $8000!
  78. 78. Tax Credit Overview 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 Must not have owned a principal residence in 3 years prior to First-Time purchase Distribute NAR Tax Credit Overview handout
  79. 79. Tax Credit FAQs • Can individuals with incomes higher than the  income limits still benefit from the tax credit? • How does a tax credit work? • How do I apply for the credit? • Is there a way to get the credit before I file my tax  return? • How does the repayment work?  Distribute NAR Frequently Asked Question handout
  80. 80. How much house can I really afford?
  81. 81. Establish Your Buying Power • The first step is to meet with me!
  82. 82. Factors to consider when buying and selling… Inventory(supply and demand) Interest Rates Source: MLS
  83. 83. Interest Rates Remain Low Average Annual Rate (30-year fixed rate mortgage) Percent 19% 17% 15% 13% 11% 9% 7% 5% 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 Year Source: Freddie Mac
  84. 84. Strategies for Selling Joshua D. Wilton, Manager
  85. 85. Understand the Market That You are Selling Out of … I live in Montgomery
  86. 86. The Impact of Pricing on the Salability of Your Home..…
  87. 87. ‘Great speech but does it really work?
  88. 88. We know the best way to evaluate pricing Does this really  work?
  89. 89. We know the best way to evaluate pricing Does this  really work?
  90. 90. 2. The Effect of Staging on the Value of a Your Home .
  91. 91. 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.
  92. 92. The Way You Live In Your Home…
  93. 93. … And The Way We Market And Sell A House Are Two Different Things.
  94. 94. “The Investment in Home Staging is Always Less than Your First Price Reduction!”
  95. 95. Buyers Only Know What They See …
  96. 96. … Not The Way It Is Going To Be.
  97. 97. 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.
  98. 98. 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.
  99. 99. The average marketing time of an ASP Staged vs. non-Staged home is 80% less.
  100. 100. 3.The Effect of ‘ Pre- Inspection’ on the Sale of Your Home.
  101. 101. What is ‘Pre-Inspection?’
  102. 102. 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.
  103. 103. PRE-LISTING Home Inspection DOESN’T THE BUYER DO THE HOME INSPECTION?
  104. 104. All Negotiations, including real estate, are all about negotiation and control. Right Price Right Staging All Repairs are done in advance. Offer a Home Warranty to the buyer.. Who is in control?
  105. 105. 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%.
  106. 106. 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.
  107. 107. 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.
  108. 108. What will a real estate company do for me? Weichert Family of Companies
  109. 109. 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.
  110. 110. The Weichert Difference • Time is money. • Stress kills. • Time is life.
  111. 111. What Will a Weichert Agent Do for Me? Educate You. Negotiate on your behalf. Offer advice on due diligence. Manage all aspects of the transaction process.
  112. 112. We’re Here to Help The Entire Process is reviewed by  Legal Council.
  113. 113. Weichert Princeton on Facebook
  114. 114. Weichert Princeton on Facebook
  115. 115. Resource and website list: Realtor.org http://www.facebook.com/pages/ NAR-Research/73888294183# Remodeling.com
  116. 116. Resource and Website List http://www.realtor.org/research/resear www.Otteau.com www.Pre-listing-inspection.com
  117. 117. Resource and Website List: www.Housemaster.com www.Stagingshoppingcenter.com
  118. 118. Resource and website list: www.Stagedhomes.com www.realestatestagingassociation.com www.foreclosurepoint.com www.realtytrac.com
  119. 119. Good Luck with your Move!

×