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Weichert, Princeton Office September 2010 Market Update Seminar Offers analysis of the Princeton & Greater Princeton, NJ real estate markets & effective strategies to buy and sell.
Presented by: Joshua D Wilton Broker/ Sales Rep.  Weichert Realtors Princeton, NJ O 609-921-1900 www.weichert-princeton.com www.facebook.com/weichertprinceton
Agenda ,[object Object],[object Object],[object Object]
Agenda ,[object Object]
The good news just keeps on coming
The good news just keeps on coming WASHINGTON (AP) --  New homes sold at the second-slowest pace on record in August,  signaling that the housing market will remain a drag on the economy. Last month's new home sales were unchanged from a month earlier at a seasonally adjusted annual sales pace of 288,000, the Commerce Department said Friday. Sales were down by 29 percent from the same month a year earlier. – yahoo.com
The OTTEAU Report – Market Commentary by Jeffrey Otteau  Recent Housing Slump Extends to 4 Straight Months  Purchase contracts to buy a home in New Jersey fell by 25% in August compared to one year ago as the housing market continues to weaken in the aftermath of expired federal homebuyer tax credits. The August decline continues a string of 4 consecutive months of slumping home sales since the tax credits expired on April 30th.  The slowdown in sales pace is also causing unsold-inventory to reverse direction and begin rising again. Looking ahead, the combination of fewer sales, rising inventory and the approaching fall and winter months will bring renewed downward pressure on home prices.  www.otteau.coim
Washington, September 23, 2010 Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors®. Existing-home sales 1 , which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0 percent below the 5.10 million-unit pace in August 2009. www.otteau.coim
A More Balanced Market ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
A long term outlook in NJ & Mercer County Source: NAR, November 2008 Forecast
NJ Housing Permits Source: Census RESIDENTIAL BUILDING PERMITS AUTHORIZED 2000-2008 COUNTY 2000  2001  2002  2003  2004  2005  2006  2007 2008 Total  Atlantic County 1,625 1,685 2,020 2,285 2,075 2,002 1,893 1,136 794 15,515 Bergen County 2,847 1,784 1,771 1,289 2,142 2,972 2,164 2,957 1,311 19,237 Burlington County 2,775 2,184 2,359 1,805 1,516 1,475 2,784 1,037 976 16,911 Camden County 796 757 1,160 1,934 1,413 1,706 1,183 1,191 895 11,035 Cape May County 1,242 1,403 1,422 1,693 2,149 2,433 1,580 1,081 485 13,488 Cumberland County 255 256 310 374 566 630 737 683 336 4,147 Essex County 1,491 1,548 1,588 2,235 2,343 3,128 3,284 1,854 1,314 18,785 Gloucester County 1,337 1,635 1,802 1,859 2,050 2,075 1,141 920 788 13,607 Hudson County 1,338 1,116 1,534 2,116 3,808 4,498 4,275 3,081 3,229 24,995 Hunterdon County 616 685 602 814 648 506 350 316 206 4,743 Mercer County 1,283 1,355 1,428 1,188 1,641 1,296 847 700 625 10,363 Middlesex County 2,460 1,884 1,999 2,306 2,622 3,206 2,567 1,597 1,020 19,661 Monmouth County 2,912 2,194 2,372 2,756 2,628 2,584 2,820 2,060 1,526 21,852 Morris County 2,684 1,577 1,914 1,555 1,427 2,503 1,670 1,052 795 15,177 Ocean County 5,633 3,830 3,534 4,009 3,818 2,904 2,114 2,160 1,527 29,529 Passaic County 457 631 689 829 763 647 850 760 432 6,058 Salem County 161 180 170 307 334 297 298 148 198 2,093 Somerset County 2,282 1,439 1,530 1,260 1,362 1,220 1,058 926 791 11,868 Sussex County 719 808 679 587 612 668 603 360 302 5,338 Union County 776 551 681 1,198 1,399 1,278 1,593 1,123 673 9,272 Warren County 896 765 877 585 620 560 512 258 146 5,219 New Jersey 34,585 28,267 30,441 32,984 35,936 38,588 34,323 25,400 18,369 278,893
NJ Housing Permits Source: Census In thousand units
Long Term Supply … Source: NAR, November 2008 Forecast Richardson Commercial
Long Term Demand in Mercer County … Source: NAR, November 2008 Forecast Source: https://edis.commerce.state.nc.us/docs/countyProfile/NJ/34021.pdf (Mercer County) Population & Growth Population Annual Growth Rate 2013 Total Population 383,677 0.6% 2008 Total Population 371,963 0.7% 2000 Total Population 350,761
Long Term Demand in Mercer County … Source: NAR, November 2008 Forecast Source: https://edis.commerce.state.nc.us/docs/countyProfile/NJ/34021.pdf Estimated Pop. by Age  Pop by Age,  % Est. 2013 Median Age 39 2008 Median Age 38 2000 Median Age 36 2008 Total Pop 0-19  98,816  26.6% 2008 Total Pop 20-29  49,307  13.3% 2008 Total Pop 30-39  49,497  13.3% 2008 Total Pop 40-49  58,288  15.7% 2008 Total Pop 50-59  51,605  13.9% 2008 Total Pop 60+  64,450  17.3%
[object Object],[object Object],[object Object],‘ Yoda has spoken…’
1.  Real Estate is Local Top Five Rules for Understanding the Real Estate Market: 2.  Real Estate is Local 3.  Real Estate is Local 4.  Real Estate is Local 5.  Real Estate is Local
1. You Understand the Local Market That You are Buying into or Selling out of…
Economics 101: As supply goes up ,  prices go _____?
Hopewell Inventory Trends: All Homes
Hopewell Inventory Trends: Condos & Townhouses
Hopewell Inventory Trends: Single Family Homes
Hopewell Inventory Trends: 55+
9/20/10 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 Hopewell Twp. All Styles 178 17 10 31 14 42 24% 6 4 20 Hopewell Twp. Condo/ T.Houses 12 4 3 3 1 3 50% 0 1 2 Hopewell Twp.: 55+ 12 1 12 1 0 -- -- 0 0 2 Hopewell Twp Single Family 154 12 13 27 15 36 23% 6 3 16
Princeton Boro Inventory Trend
Lawrence Inventory Trend
Princeton Twp. Inventory Trend
West Windsor Inventory Trend
Cranbury Inventory Trend
Cranbury Inventory Trend
Plainsboro Inventory Trend
East Windsor Inventory Trend
East Windsor Inventory Trend
Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
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 .
Sample Market Absorption Rate 107 current active listings  4 reported sales in last 30 days = 24.3 months  absorption rate Anytown., NJ 5-6 Months Market Absorption Rate indicates a normal market.
2007 thru 2009 Market Activity Comparison: Week of 8/3/09 2006 Active  Inventory 2006 Pendnig Sales (previous 30 days) 2007 Active  Inventory 2007 Pending Sales (prev. 30 days) 2008 Active Inventory 2008 Pending Sales (prev. 30 days) 2009 Active Inventory 2009  Pending Sales (prev. 30 days) 2010 Active Inventory 2010 Pending Sales (previous 30 days) Pton. Boro 56 0 59 3 51 2 43 7 54 5 Pton Twp 147 7 120 4 93 4 122 14 130 4 W. Windsor 195 9 159 25 113 12 100 26 123 11 Lawrence 212 11 238 12 200 12 2-4 27 240 13 East Windsor 210 21 218 8 210 17 172 34 228 9 Ewing 201 21 276 12 262 11 246 27 307 14 Hamilton 535 39 530 39 611 45 530 86 675 89 Hopewell Twp. 198 12 194 4 128 10 164 26 178 17 Cranbury 18 0 31 0 32 0 30 1 19 6 Plainsboro 152 8 118 21 73 12 70 10 79 5 South Brunswick 314 17 208 16 206 17 196 21 248 8 Montgom. 177 9 145 16 129 12 138 24 162 10 Cum. 2415 154 2296 161 2108 142 2015 303 2350 180
9/20/10 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 Princeton Boro:  All Styles 54 5 10.8 8 3 10 18.5% 3 6 3 Pton -Boro Condo/ Thouses 24 2 12 2 0 7 29.2% 0 4 2 Pton-Boro Single Family 30 3 10 6 3 3 10% 3 2 1 Pton Twp: All Styles 130 4 32.5 19 15 19 14.6% 2 7 19 Pton Twp: Condo/ Thouses 17 0 17 7 7 4 23.5% 0 1 5 Pton Twp: Single Family 113 4 28.3 12 8 15 13.3% 1 6 14
9/20/10 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Li1stings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings West Windsor:  All Styles 128 11 11.6 26 15 36 28.1% West Windsor Condo/ T.Houses 28 4 7 11 7 7 25.9% West Windsor 55+ 8 0 99 2 2 -- -- West Windsor  Single Family 92 7 13.1 13 6 29 31.5% Lawrence: All Styles 240 13 18.5 31 18 67 27.9% Lawrence: Condo/ THouses 84 1 84 12 11 24 28.6% Lawrence:  55+ 18 3 6 3 0 -- -- Lawrence:  Single Family 138 9 15.3 16 7 43 31.1%
9/20/10 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 PlainsboroAll Styles 79 5 15.8 21 16 24 30% 9 3 20 Plainsboro Condo/ THouses 42 1 42 14 13 12 28% 4 3 9 Plainsboro 55+ 13 0 99 1 1 0 0 2 0 2 Plainsboro Single Family 24 4 6 6 2 12 50% 3 0 9 Cranbury: All Styles 19 6 3.1 5 (1) 5 26% 2 0 5 Cranbury: 55+ 2 1 2 1 0 0 0 1 0 0 Cranbury: Single Family 17 5 3.4 4 (1) 0 0 1 0 5
9/20/10 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 Ewing:  All Styles 307 14 21.9 37 23 62 20.2% Ewing : Condo/ T.Houses 44 1 44 3 2 8 18.2% Ewing 55+: 5 1 5 0 -1 -- -- Ewing: Single Family 258 12 21.5 34 22 54 20.9% East Windsor: All Styles 228 9 25.3 38 29 56 24.6% East Windsor: Condo/ THouses 133 5 26.6 27 22 26 19.5% East Windsor: 55+ 22 0 99 2 2 -- -- East Windsor: Single Family 73 4 18.3 9 5 30 40.1%
9/20/10 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 Hopewell Twp. All Styles 178 17 10 31 14 42 24% 6 4 20 Hopewell Twp. Condo/ T.Houses 12 4 3 3 1 3 50% 0 1 2 Hopewell Twp.: 55+ 12 1 12 1 0 -- -- 0 0 2 Hopewell Twp Single Family 154 12 13 27 15 36 23% 6 3 16 Hamilton: All Styles 675 89 8 138 49 174 26% 42 14 35 Hamilton: Condo/ THouses 113 18 6 18 0 38 34% 13 3 5 Hamilton: Single Family 51 5 10 15 10 -- -- 1 0 2 Hamilton: 55+ 511 66 8 10 39 136 27% 28 11 28
9/20/10 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 Robbinsville All Styles 146 13 11 22 9 54 37% 10 5 14 Robbinsville Condo/ T.Houses 64 9 7 9 0 22 34% 6 2 8 Single  Family 82 4 20.5 13 9 32 39% 4 3 6 Hightstown Boro: All Styles 69 5 14 5 0 16 23% 6 7 3 Pennington 17 1 17 6 5 7 41% 4 5 4 Hopewell Boro 20 0 99 5 5 5 25% 1 1 1
9/20/10 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 245 8 30 38 30 32 13% 18 5 30 South BrunswickCondo/ T.Houses 75 3 25 19 16 13 17% 11 3 14 South Brunswick 55+ 29 1 29 1 0 1 3% 0 0 3 South Brunswick Single Family 141 4 35 22 18 18 13% 7 2 13 Monroe: All Styles 483 19 25 90 71 77 16% 51 7 43 Monroe: 55+ 297 15 20 58 43 56 19% 34 2 34 Monroe: Single Family 186 4 47 32 26 21 12% 17 5 9
9/20/10 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 Montgomery All Styles 162 10 16.2 29 0 44 27% 10 6 13 Montgomery Condo/Twnhms 20 1 20 5 -2 10 50% 1 3 3 Single  Family 142 9 16 24 2 34 24% 9 3 10 Hillsborough All Styles 272 16 17 47 -13 52 19% 20 14 26 Hillsborough Condo/Twnhms 72 4 18 10 -7 18 25% 4 8 5 Hillsborough Single Family 200 12 17 37 -6 34 17% 16 6 21
Market Scale for Supply & Demand High Supply/Low Demand Low Supply/High Demand Normal 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.   Note: This Market Scale is valid only for absorption rates between 1 and 12 months.  Market Absorption in Months 1 2 3 4 5 6 7 8 9 10 11 12 Normal
Understand the Market That You are Buying/ Selling in… I want to live/ sell in West Windsor…..
Sample Market Absorption Rate 107 current active listings  4 reported sales in last 30 days = 24.3 months  absorption rate Anytown., NJ 5-6 Months Market Absorption Rate indicates a normal market.
West Windsor, Single Families 128 current active listings  11 reported sales in last 30 days = 11 months  absorption rate West Windsor, NJ 5-6 Months Market Absorption Rate indicates a normal market.
West Windsor Colonials By Price 5-6 months absorption rate indicates a normal market. Price Actives Pendings Ab. Rate $300-$500 14 1 14 500-$650 20 9 2.2 $650-$799 19 4 3 $800-$999 13 3 4.3 $1 million + 5 0 99*
West Windsor Colonials By Price 5-6 months absorption rate indicates a normal market. Price Actives Pendings Ab. Rate $300-$500 14 1 14 500-$650 20 9 2.2 $650-$799 19 4 3 $800-$999 13 3 4.3 $1 million + 5 0 99*
‘ I don’t want to buy a house and then watch it drop in value!’
  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
  Purchase Price $329,000 Loan Amount $317400 Down Payment $11,515 Monthly P&I $1802  Appreciation/Depreciation Home Value 1st Year 5 $319,130 2nd Year 3% $319,130 3rd Year 2% $322,321 4th Year 2% $331,990 5th Year 2% $348,590 5 Year Appreciation/Depreciation $48,590 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  $73,529 Create Equity v  Pay Rent
+ The Amortization Schedule on a Loan 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
Appreciation (conservitive): $19,500 + Amortization: $20,109 +  Tax Benefit of Home Ownership $25,000 +  Low Interest Rates: $5000 ___________________ total 5 year gain = $69,609
[object Object],1  Source: Freddie Mac   2  As reported in the Washington Post 12/26/09 3   As reported on CNBC 12/22/09 Average annual rate (30-year fixed-rate mortgage) 1 How Long Will Interest Rates Remain Low?
Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
Buying/ Selling Strategies Source: MLS
1. ‘I am going to time the Market and buy/ sell at the time when inventory & buyer count is in my favor…’ Source: MLS
Weekly Guests Thru the Weichert Princeton Open Houses, 2009
Source: MLS Inventory Levels, Princeton Twp. New Jersey, 2009
3. ‘I am going to wait until the price comes down further  and then  make an offer/ if I lower my price I will get lower bids… Source: MLS
Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
3/16/10 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 PlainsboroAll Styles 74 18 4.1 36 17 9 12.2% 0 1 7 Plainsboro Condo/ THouses 36 7 5.1 22 15 2 5.6% 0 0 5 Plainsboro 55+ 17 3 5.7 3 0 - - 0 0 1 Plainsboro Single Family 21 8 2.6 11 2 7 3.3% 0 1 1 Cranbury: All Styles 24 1 24 5 2 5 20.8% 1 1 2 Cranbury: 55+ 1 0 99 0 -1 - - 0 1 0 Cranbury: Single Family 23 1 24 5 3 5 21.7% 1 0 2
3/16/10 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 Princeton Boro:  All Styles 31 1 31 10 6 4 12.9 2 1 3 Pton -Boro Condo/ Thouses 10 1 10 4 1 1 10 2 0 1 Pton-Boro Single Family 21 0 99 6 5 3 14.3 0 1 2 Pton Twp: All Styles 102 8 12.8 30 21 10 9.8 1 0 6 Pton Twp: Condo/ Thouses 13 2 6.5 4 2 2 15.4 0 0 3 Pton Twp: Single Family 89 6 14.8 26 19 8 9 1 0 3
Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
Jeff Smith,  Loan Officer Weichert Financial Services Financial Benefits and Process of Home-Ownership.
Monthly Payment Savings ,[object Object],Monthly payments are based on interest rates of 5.5% on 9/13/2009 vs. 4.25% on 9/13/2010. One Year Ago Today Mortgage Amount $300,000 $300,000 Monthly Payment (P&I) $1,704 $1,476 Savings $228/month
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The interest rate assumption is based on a 30-year fixed rate mortgage. $119 difference per month – or nearly $43,000 over 30 years. Assuming a 1% increase in interest rates.
[object Object],Establish  Your  Buying Power
The Impact of Pricing on the Salability of Your Home..…
‘ Great speech but does it really work?
We know the best way to evaluate pricing ,[object Object]
We know the best way to evaluate pricing ,[object Object]
2 .  The Effect of  Staging  on the Value of a  Home .
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 .
Non-Staged The Way You Live In Your Home…
…  And The Way We Market And Sell A House Are Two Different Things. Staged
“ The Investment in Home Staging  is  Always Less  than Your  First Price Reduction!”
Non-Staged Buyers Only Know What They See …
…  Not The Way It Is Going To Be. Staged
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.
3. The Effect of ‘ Pre-Inspection’  on the Sale of  Your  Home.
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.
The average  marketing time  of an ASP Staged vs. non-Staged home is  80% less . Why  Promote  Home Staging  ?
What is  ‘ Pre-Inspection?’
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.   
PRE-LISTING Home Inspection DOESN’T THE BUYER DO THE HOME INSPECTION?
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..
PRE-LISTING Home Inspection Data on where most sales fall apart: attorney review, home inspection. Fall Thru Percentage 2007: 26% Fall Thru Percentage 2010: 6% .
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.
 
 
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.
Weichert Family of Companies What will a real estate company do for me?
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.
[object Object],The Weichert Difference ,[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],What Will a Weichert Agent Do for Me?
We’re Here to Help ,[object Object]
Become a Fan! www.facbook.com/weichertprinceton www.weichert-princeton.com   We post a ton of great market data on these two sites.
Resource and website list: ,[object Object],[object Object],[object Object],[object Object]
Resource and Website List ,[object Object],[object Object],[object Object]
Resource and Website List: ,[object Object],[object Object]
Resource and website list: ,[object Object],[object Object],[object Object]

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September market seminar

  • 1. Weichert, Princeton Office September 2010 Market Update Seminar Offers analysis of the Princeton & Greater Princeton, NJ real estate markets & effective strategies to buy and sell.
  • 2. Presented by: Joshua D Wilton Broker/ Sales Rep. Weichert Realtors Princeton, NJ O 609-921-1900 www.weichert-princeton.com www.facebook.com/weichertprinceton
  • 3.
  • 4.
  • 5. The good news just keeps on coming
  • 6. The good news just keeps on coming WASHINGTON (AP) -- New homes sold at the second-slowest pace on record in August, signaling that the housing market will remain a drag on the economy. Last month's new home sales were unchanged from a month earlier at a seasonally adjusted annual sales pace of 288,000, the Commerce Department said Friday. Sales were down by 29 percent from the same month a year earlier. – yahoo.com
  • 7. The OTTEAU Report – Market Commentary by Jeffrey Otteau Recent Housing Slump Extends to 4 Straight Months Purchase contracts to buy a home in New Jersey fell by 25% in August compared to one year ago as the housing market continues to weaken in the aftermath of expired federal homebuyer tax credits. The August decline continues a string of 4 consecutive months of slumping home sales since the tax credits expired on April 30th. The slowdown in sales pace is also causing unsold-inventory to reverse direction and begin rising again. Looking ahead, the combination of fewer sales, rising inventory and the approaching fall and winter months will bring renewed downward pressure on home prices. www.otteau.coim
  • 8. Washington, September 23, 2010 Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors®. Existing-home sales 1 , which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0 percent below the 5.10 million-unit pace in August 2009. www.otteau.coim
  • 9.
  • 10. A long term outlook in NJ & Mercer County Source: NAR, November 2008 Forecast
  • 11. NJ Housing Permits Source: Census RESIDENTIAL BUILDING PERMITS AUTHORIZED 2000-2008 COUNTY 2000 2001 2002 2003 2004 2005 2006 2007 2008 Total Atlantic County 1,625 1,685 2,020 2,285 2,075 2,002 1,893 1,136 794 15,515 Bergen County 2,847 1,784 1,771 1,289 2,142 2,972 2,164 2,957 1,311 19,237 Burlington County 2,775 2,184 2,359 1,805 1,516 1,475 2,784 1,037 976 16,911 Camden County 796 757 1,160 1,934 1,413 1,706 1,183 1,191 895 11,035 Cape May County 1,242 1,403 1,422 1,693 2,149 2,433 1,580 1,081 485 13,488 Cumberland County 255 256 310 374 566 630 737 683 336 4,147 Essex County 1,491 1,548 1,588 2,235 2,343 3,128 3,284 1,854 1,314 18,785 Gloucester County 1,337 1,635 1,802 1,859 2,050 2,075 1,141 920 788 13,607 Hudson County 1,338 1,116 1,534 2,116 3,808 4,498 4,275 3,081 3,229 24,995 Hunterdon County 616 685 602 814 648 506 350 316 206 4,743 Mercer County 1,283 1,355 1,428 1,188 1,641 1,296 847 700 625 10,363 Middlesex County 2,460 1,884 1,999 2,306 2,622 3,206 2,567 1,597 1,020 19,661 Monmouth County 2,912 2,194 2,372 2,756 2,628 2,584 2,820 2,060 1,526 21,852 Morris County 2,684 1,577 1,914 1,555 1,427 2,503 1,670 1,052 795 15,177 Ocean County 5,633 3,830 3,534 4,009 3,818 2,904 2,114 2,160 1,527 29,529 Passaic County 457 631 689 829 763 647 850 760 432 6,058 Salem County 161 180 170 307 334 297 298 148 198 2,093 Somerset County 2,282 1,439 1,530 1,260 1,362 1,220 1,058 926 791 11,868 Sussex County 719 808 679 587 612 668 603 360 302 5,338 Union County 776 551 681 1,198 1,399 1,278 1,593 1,123 673 9,272 Warren County 896 765 877 585 620 560 512 258 146 5,219 New Jersey 34,585 28,267 30,441 32,984 35,936 38,588 34,323 25,400 18,369 278,893
  • 12. NJ Housing Permits Source: Census In thousand units
  • 13. Long Term Supply … Source: NAR, November 2008 Forecast Richardson Commercial
  • 14. Long Term Demand in Mercer County … Source: NAR, November 2008 Forecast Source: https://edis.commerce.state.nc.us/docs/countyProfile/NJ/34021.pdf (Mercer County) Population & Growth Population Annual Growth Rate 2013 Total Population 383,677 0.6% 2008 Total Population 371,963 0.7% 2000 Total Population 350,761
  • 15. Long Term Demand in Mercer County … Source: NAR, November 2008 Forecast Source: https://edis.commerce.state.nc.us/docs/countyProfile/NJ/34021.pdf Estimated Pop. by Age Pop by Age, % Est. 2013 Median Age 39 2008 Median Age 38 2000 Median Age 36 2008 Total Pop 0-19 98,816 26.6% 2008 Total Pop 20-29 49,307 13.3% 2008 Total Pop 30-39 49,497 13.3% 2008 Total Pop 40-49 58,288 15.7% 2008 Total Pop 50-59 51,605 13.9% 2008 Total Pop 60+ 64,450 17.3%
  • 16.
  • 17. 1. Real Estate is Local Top Five Rules for Understanding the Real Estate Market: 2. Real Estate is Local 3. Real Estate is Local 4. Real Estate is Local 5. Real Estate is Local
  • 18. 1. You Understand the Local Market That You are Buying into or Selling out of…
  • 19. Economics 101: As supply goes up , prices go _____?
  • 21. Hopewell Inventory Trends: Condos & Townhouses
  • 22. Hopewell Inventory Trends: Single Family Homes
  • 24. 9/20/10 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 Hopewell Twp. All Styles 178 17 10 31 14 42 24% 6 4 20 Hopewell Twp. Condo/ T.Houses 12 4 3 3 1 3 50% 0 1 2 Hopewell Twp.: 55+ 12 1 12 1 0 -- -- 0 0 2 Hopewell Twp Single Family 154 12 13 27 15 36 23% 6 3 16
  • 34. Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
  • 35. 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 .
  • 36. Sample Market Absorption Rate 107 current active listings 4 reported sales in last 30 days = 24.3 months absorption rate Anytown., NJ 5-6 Months Market Absorption Rate indicates a normal market.
  • 37. 2007 thru 2009 Market Activity Comparison: Week of 8/3/09 2006 Active Inventory 2006 Pendnig Sales (previous 30 days) 2007 Active Inventory 2007 Pending Sales (prev. 30 days) 2008 Active Inventory 2008 Pending Sales (prev. 30 days) 2009 Active Inventory 2009 Pending Sales (prev. 30 days) 2010 Active Inventory 2010 Pending Sales (previous 30 days) Pton. Boro 56 0 59 3 51 2 43 7 54 5 Pton Twp 147 7 120 4 93 4 122 14 130 4 W. Windsor 195 9 159 25 113 12 100 26 123 11 Lawrence 212 11 238 12 200 12 2-4 27 240 13 East Windsor 210 21 218 8 210 17 172 34 228 9 Ewing 201 21 276 12 262 11 246 27 307 14 Hamilton 535 39 530 39 611 45 530 86 675 89 Hopewell Twp. 198 12 194 4 128 10 164 26 178 17 Cranbury 18 0 31 0 32 0 30 1 19 6 Plainsboro 152 8 118 21 73 12 70 10 79 5 South Brunswick 314 17 208 16 206 17 196 21 248 8 Montgom. 177 9 145 16 129 12 138 24 162 10 Cum. 2415 154 2296 161 2108 142 2015 303 2350 180
  • 38. 9/20/10 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 Princeton Boro: All Styles 54 5 10.8 8 3 10 18.5% 3 6 3 Pton -Boro Condo/ Thouses 24 2 12 2 0 7 29.2% 0 4 2 Pton-Boro Single Family 30 3 10 6 3 3 10% 3 2 1 Pton Twp: All Styles 130 4 32.5 19 15 19 14.6% 2 7 19 Pton Twp: Condo/ Thouses 17 0 17 7 7 4 23.5% 0 1 5 Pton Twp: Single Family 113 4 28.3 12 8 15 13.3% 1 6 14
  • 39. 9/20/10 Towns Active Listings Pending in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Li1stings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings West Windsor: All Styles 128 11 11.6 26 15 36 28.1% West Windsor Condo/ T.Houses 28 4 7 11 7 7 25.9% West Windsor 55+ 8 0 99 2 2 -- -- West Windsor Single Family 92 7 13.1 13 6 29 31.5% Lawrence: All Styles 240 13 18.5 31 18 67 27.9% Lawrence: Condo/ THouses 84 1 84 12 11 24 28.6% Lawrence: 55+ 18 3 6 3 0 -- -- Lawrence: Single Family 138 9 15.3 16 7 43 31.1%
  • 40. 9/20/10 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 PlainsboroAll Styles 79 5 15.8 21 16 24 30% 9 3 20 Plainsboro Condo/ THouses 42 1 42 14 13 12 28% 4 3 9 Plainsboro 55+ 13 0 99 1 1 0 0 2 0 2 Plainsboro Single Family 24 4 6 6 2 12 50% 3 0 9 Cranbury: All Styles 19 6 3.1 5 (1) 5 26% 2 0 5 Cranbury: 55+ 2 1 2 1 0 0 0 1 0 0 Cranbury: Single Family 17 5 3.4 4 (1) 0 0 1 0 5
  • 41. 9/20/10 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 Ewing: All Styles 307 14 21.9 37 23 62 20.2% Ewing : Condo/ T.Houses 44 1 44 3 2 8 18.2% Ewing 55+: 5 1 5 0 -1 -- -- Ewing: Single Family 258 12 21.5 34 22 54 20.9% East Windsor: All Styles 228 9 25.3 38 29 56 24.6% East Windsor: Condo/ THouses 133 5 26.6 27 22 26 19.5% East Windsor: 55+ 22 0 99 2 2 -- -- East Windsor: Single Family 73 4 18.3 9 5 30 40.1%
  • 42. 9/20/10 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 Hopewell Twp. All Styles 178 17 10 31 14 42 24% 6 4 20 Hopewell Twp. Condo/ T.Houses 12 4 3 3 1 3 50% 0 1 2 Hopewell Twp.: 55+ 12 1 12 1 0 -- -- 0 0 2 Hopewell Twp Single Family 154 12 13 27 15 36 23% 6 3 16 Hamilton: All Styles 675 89 8 138 49 174 26% 42 14 35 Hamilton: Condo/ THouses 113 18 6 18 0 38 34% 13 3 5 Hamilton: Single Family 51 5 10 15 10 -- -- 1 0 2 Hamilton: 55+ 511 66 8 10 39 136 27% 28 11 28
  • 43. 9/20/10 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 Robbinsville All Styles 146 13 11 22 9 54 37% 10 5 14 Robbinsville Condo/ T.Houses 64 9 7 9 0 22 34% 6 2 8 Single Family 82 4 20.5 13 9 32 39% 4 3 6 Hightstown Boro: All Styles 69 5 14 5 0 16 23% 6 7 3 Pennington 17 1 17 6 5 7 41% 4 5 4 Hopewell Boro 20 0 99 5 5 5 25% 1 1 1
  • 44. 9/20/10 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 245 8 30 38 30 32 13% 18 5 30 South BrunswickCondo/ T.Houses 75 3 25 19 16 13 17% 11 3 14 South Brunswick 55+ 29 1 29 1 0 1 3% 0 0 3 South Brunswick Single Family 141 4 35 22 18 18 13% 7 2 13 Monroe: All Styles 483 19 25 90 71 77 16% 51 7 43 Monroe: 55+ 297 15 20 58 43 56 19% 34 2 34 Monroe: Single Family 186 4 47 32 26 21 12% 17 5 9
  • 45. 9/20/10 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 Montgomery All Styles 162 10 16.2 29 0 44 27% 10 6 13 Montgomery Condo/Twnhms 20 1 20 5 -2 10 50% 1 3 3 Single Family 142 9 16 24 2 34 24% 9 3 10 Hillsborough All Styles 272 16 17 47 -13 52 19% 20 14 26 Hillsborough Condo/Twnhms 72 4 18 10 -7 18 25% 4 8 5 Hillsborough Single Family 200 12 17 37 -6 34 17% 16 6 21
  • 46. Market Scale for Supply & Demand High Supply/Low Demand Low Supply/High Demand Normal 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. Note: This Market Scale is valid only for absorption rates between 1 and 12 months. Market Absorption in Months 1 2 3 4 5 6 7 8 9 10 11 12 Normal
  • 47. Understand the Market That You are Buying/ Selling in… I want to live/ sell in West Windsor…..
  • 48. Sample Market Absorption Rate 107 current active listings 4 reported sales in last 30 days = 24.3 months absorption rate Anytown., NJ 5-6 Months Market Absorption Rate indicates a normal market.
  • 49. West Windsor, Single Families 128 current active listings 11 reported sales in last 30 days = 11 months absorption rate West Windsor, NJ 5-6 Months Market Absorption Rate indicates a normal market.
  • 50. West Windsor Colonials By Price 5-6 months absorption rate indicates a normal market. Price Actives Pendings Ab. Rate $300-$500 14 1 14 500-$650 20 9 2.2 $650-$799 19 4 3 $800-$999 13 3 4.3 $1 million + 5 0 99*
  • 51. West Windsor Colonials By Price 5-6 months absorption rate indicates a normal market. Price Actives Pendings Ab. Rate $300-$500 14 1 14 500-$650 20 9 2.2 $650-$799 19 4 3 $800-$999 13 3 4.3 $1 million + 5 0 99*
  • 52. ‘ I don’t want to buy a house and then watch it drop in value!’
  • 53.   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
  • 54.   Purchase Price $329,000 Loan Amount $317400 Down Payment $11,515 Monthly P&I $1802 Appreciation/Depreciation Home Value 1st Year 5 $319,130 2nd Year 3% $319,130 3rd Year 2% $322,321 4th Year 2% $331,990 5th Year 2% $348,590 5 Year Appreciation/Depreciation $48,590 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 $73,529 Create Equity v Pay Rent
  • 55. + The Amortization Schedule on a Loan 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
  • 56. Appreciation (conservitive): $19,500 + Amortization: $20,109 + Tax Benefit of Home Ownership $25,000 + Low Interest Rates: $5000 ___________________ total 5 year gain = $69,609
  • 57.
  • 58. Market Absorption Scale (Absorption Rate in Months) 5-6 months absorption rate indicates a normal market.
  • 60. 1. ‘I am going to time the Market and buy/ sell at the time when inventory & buyer count is in my favor…’ Source: MLS
  • 61. Weekly Guests Thru the Weichert Princeton Open Houses, 2009
  • 62. Source: MLS Inventory Levels, Princeton Twp. New Jersey, 2009
  • 63. 3. ‘I am going to wait until the price comes down further and then make an offer/ if I lower my price I will get lower bids… Source: MLS
  • 64. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
  • 65. 3/16/10 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 PlainsboroAll Styles 74 18 4.1 36 17 9 12.2% 0 1 7 Plainsboro Condo/ THouses 36 7 5.1 22 15 2 5.6% 0 0 5 Plainsboro 55+ 17 3 5.7 3 0 - - 0 0 1 Plainsboro Single Family 21 8 2.6 11 2 7 3.3% 0 1 1 Cranbury: All Styles 24 1 24 5 2 5 20.8% 1 1 2 Cranbury: 55+ 1 0 99 0 -1 - - 0 1 0 Cranbury: Single Family 23 1 24 5 3 5 21.7% 1 0 2
  • 66. 3/16/10 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 Princeton Boro: All Styles 31 1 31 10 6 4 12.9 2 1 3 Pton -Boro Condo/ Thouses 10 1 10 4 1 1 10 2 0 1 Pton-Boro Single Family 21 0 99 6 5 3 14.3 0 1 2 Pton Twp: All Styles 102 8 12.8 30 21 10 9.8 1 0 6 Pton Twp: Condo/ Thouses 13 2 6.5 4 2 2 15.4 0 0 3 Pton Twp: Single Family 89 6 14.8 26 19 8 9 1 0 3
  • 67. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
  • 68. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
  • 69. Source: trend mls Relationship of Price Reductions to ‘Pending Sales’
  • 70. Jeff Smith, Loan Officer Weichert Financial Services Financial Benefits and Process of Home-Ownership.
  • 71.
  • 72.
  • 73.
  • 74. The Impact of Pricing on the Salability of Your Home..…
  • 75. ‘ Great speech but does it really work?
  • 76.
  • 77.
  • 78. 2 . The Effect of Staging on the Value of a Home .
  • 79. 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 .
  • 80. Non-Staged The Way You Live In Your Home…
  • 81. … And The Way We Market And Sell A House Are Two Different Things. Staged
  • 82. “ The Investment in Home Staging is Always Less than Your First Price Reduction!”
  • 83. Non-Staged Buyers Only Know What They See …
  • 84. … Not The Way It Is Going To Be. Staged
  • 85. 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.
  • 86. 3. The Effect of ‘ Pre-Inspection’ on the Sale of Your Home.
  • 87. 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.
  • 88. The average marketing time of an ASP Staged vs. non-Staged home is 80% less . Why Promote Home Staging ?
  • 89. What is ‘ Pre-Inspection?’
  • 90. 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.  
  • 91. PRE-LISTING Home Inspection DOESN’T THE BUYER DO THE HOME INSPECTION?
  • 92. 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..
  • 93. PRE-LISTING Home Inspection Data on where most sales fall apart: attorney review, home inspection. Fall Thru Percentage 2007: 26% Fall Thru Percentage 2010: 6% .
  • 94. 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.
  • 95.  
  • 96.  
  • 97. 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.
  • 98. Weichert Family of Companies What will a real estate company do for me?
  • 99. 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.
  • 100.
  • 101.
  • 102.
  • 103. Become a Fan! www.facbook.com/weichertprinceton www.weichert-princeton.com We post a ton of great market data on these two sites.
  • 104.
  • 105.
  • 106.
  • 107.

Editor's Notes

  1. (elicit responses)
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  9. 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.
  10. 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.
  11. 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.
  12. 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.
  13. 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.
  14. 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.
  15. 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.
  16. 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.
  17. 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.
  18. 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.
  19. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  20. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  21. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  22. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  23. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  24. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  25. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  26. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  27. 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.
  28. 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.
  29. 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.
  30. 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.
  31. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  32. Populate this table to show the local absorption rate in the various price ranges that are appropriate for your market area. Please add or delete rows as necessary to adequately reflect local conditions.
  33. 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.
  34. New Stats Pulled Off StagedHomes.com
  35. 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.
  36. 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.
  37. 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.
  38. 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.
  39. 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.