New Jersey Estates/Weichert Realtors/ NJ Luxury Real Estate/ New Homes: June 2009

You'll get business from your Direct SOI, but it probably won't be your primary source of closings, assuming your Direct SOI thinks a lot of you, and they know how to find you.

New Jersey Estates/ Weichert Realtors Paul Stillwaggon & Pat Cornish

June 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE

Copyright © 2009 Realty Times All Rights Reserved.

I've been doing a little private SOI (Sphere of Influence) tutoring with some local Denver agents.

Yesterday, as I was working with one of my students, she asked me a question that got me thinking love that. She asked "So, my goal is to expand my Sphere of Influence database to a certain number by the end of the year?" Well, sorta. At least, that's probably one of your goals. But as I answered her question I realized that there are really four different branches of an SOI business model, thus four different "goals" to shoot for as you build your SOI model.

Here are the four branches:

 

• Your Direct SOI - that is - the people you know

   

• Your Indirect SOI - that is - the people your SOI knows (i.e. referrals)

   

• Your Third Generation SOI - that is - the people you meet via your SOI

   

• Everyone Else - that is - every single person you encounter in your day-to-day wanderings

Your Direct SOI These are the people who know you and know you sell real estate. It's made up of your Group One (your social network) and your Group Two (those people you know that you don't socialize with). You should try to have at least 200 warm bodies there; of course, more is better, but they don't "count" if the person wouldn't recognize your name off the bat. These are people who KNOW you, even if they aren't your best friends.

You'll get business from your Direct SOI, but it probably won't be your primary source of closings. Most of aren't blessed with an SOI who buys and sells houses on a regular basis! Your Indirect SOI These are the people your Direct SOI refers to you, who, of course, will be added to your Direct SOI once you've met. Your Indirect SOI should be a fairly consistent source of business for you, assuming your Direct SOI thinks a lot of you, and they know how to find you.

Your Third Generation SOI These are the people you serendipitously meet as a result of your existing personal relationships. For example, back in 1996, I met my second and third clients ever at the wedding of a mutual friend. I met another client at a Pride parade I attended with my GLBT friends. Another at a Super Bowl party. Stuff like that. This can be an enormous source of business for you, if you're often out there in the world with a smile on your face and your antenna up, and can speak intelligently about your local real estate market to anyone who's interested (and please don't bore those who aren't!)

Everyone Else These are the people you run into during your daily travels. Every single person you meet, every day, has the potential to be the newest member of your Direct SOI. Not all will, of course, but you never know who will end up being your biggest fan. It might be that young couple who stumbled into your Open House who had a child the same age as yours. Or that woman standing next to you at Ace Hardware getting a key made, who casually mentions she just moved to town. That guy you meet at the dog park. Your neighbor three doors down who is looking for his lost cat. The woman who calls you off your Craigslist ad to purchase your roller blades.

Again, HUGE potential with this category - if not today, then next month or next year.

So, looking at the four branches ... how can you incorporate these four categories into your SOI-building goals & activities?


Written by Jennifer Allan
June 25, 2009 

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You can Email us at:      njestates@gmail.com We are located at:      55 Stirling Road,      Watchung, NJ 07069

Want a real easy way to get more exposure for your business without spending a whole lot of cash? Try publishing an online newsletter to prospects and existing clients.

	New Jersey Estates/ Weichert Realtors Paul Stillwaggon & Pat Cornish June 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

That's right. Go to Constant Contact.com, sign up for a free trial and start getting the word out on who you are and what you're all about.

"Whoa there Brian", you might be thinking. "You want me to publish a newsletter? What could I possibly say?" Great question. This is something people ask me all the time, so you'll be happy to know that the answer is real easy: It can say anything you want.

Remember, the objective of this newsletter is not to promote yourself as the #1 Agent in town who can do all of these great things. (People hate that and will tune you out.) But instead, it's purpose is to position you as a credible resource in your local real estate community. The type of person who's knowledgeable in her industry, and isn't afraid to share some of that information when it comes to the buying and selling of your home.

So how exactly do you do that through an online newsletter? Well, how about answering some Frequently Asked Questions you've picked up over the years from different clients and prospects? Questions like: · When is the best time to sell my house? (During the spring and summer months.) · Does "curb appeal" really have an impact on how potential buyers view my house? (Yes!) · Should I consider hiring a "staging expert" prior to putting my house on the market? (It depends.) And so on down the line.

You see, a lot of times people have been in an industry for so long that they take for granted what they know, and as a result, discount the value that information would have to others. So even though some of those questions might seem "too basic", or even self explanatory in your mind, they could be quite insightful for someone who hasn't bought or sold a home in a few years.

"All right fine", you might be thinking. "I can see how this newsletter thing might be helpful, but I'm not a great writer. What should I do now?" Ok, let's talk about that.

"Not a great writer." I'm not entirely sure what people mean when they say that. Does it mean they're physically incapable of putting their thoughts on paper? They don't like to write? They haven't written something in a long time? Because anyone who's gotten through even the most basic of formalized education here in the United States has had experience in writing before. And since most readers of this article have fully assimilated themselves into society, let's assume that "not being able to write" simply means that it's not an easy, or natural skill they've acquired over the years.

No problem. Let's talk about how we can make writing easier by providing a template you can use with your articles.

Part I (first couple of sentences): State the question at the top of the page as well as the reason why something like this might be important to the reader.

Ex. Question: How much of an impact does "curb appeal" have on the sale of my house? Well that all depends on how close you want potential buyers to get to your original asking price.

You see how with those first two sentences I've not only "hooked" the reader with a relevant question, while simultaneously providing a follow up sentence that makes the question important to them.

Part II (next few sentences): Discuss examples where you've seen "curb appeal" impact the sale of the house. This might be based on personal experience or what you've heard around the office, but try to point out some "real world" examples of why this is so important.

Part III (2-3 paragraphs): Provide some thoughts and ideas on how you've recommended clients impact the curb appeal of their home. It doesn't have to be too fancy, and can actually be written in a bullet type format. But it needs to be 3 or 4 things that people can do right now to impact the sale of their home.

Part IV (last couple of sentences): Tie it back to your original point or question at the top of the page, along with the following call to action. Ex. And if you have any questions, comments, or just want to chat about the upcoming buying or selling of your home, feel free to call or shoot me an email. Even if you or someone you know isn't ready to buy or sell their home right now, it's never too early to get out in front of what for most people is their largest personal asset.

You see how easy that was? And believe me, that type of newsletter will go a long way towards helping you stand out a market as "challenging" as this. And speaking of standing out, if you'd like some more ideas on how to get more business in today's tough market, just email info@agitoconsulting.com (Subject: Today's Tough Market), and we'll be sure to send out our free report right away.

But in the meantime, jot down some questions people have asked you over the past few years, and put together a newsletter that others would want to read. Because when it's all said and done, it'll be your business who thanks you for getting the word out on all that you know.

Written by Brian Hilliard
June 24, 2009 

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For further information Phone:      Paul Stillwaggon  (908) 561-5492 Cell: (908) 310-1358 Pat Cornish   (908) 561-6499 Cell: (908) 578-0890

You can Email us at:      njestates@gmail.com We are located at:      55 Stirling Road,      Watchung, NJ 07069

May was the THIRD consecutive monthly gain in single family starts. Total starts, including multifamily apartment starts and condos, were up by 17 and a half percent!!

	New Jersey Estates/ Weichert Realtors Paul Stillwaggon & Pat Cornish June 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

COMPLETE INFO UPDATED WEEKLY

Current Listings Info
Luxury New Homes
Custom Build A New Home
Land & Building Lots
New Jersey Estates
All New Jersey Homes
Real Estate Listings Blogs
Real Estate Info Blogs
Open Houses & Directions
Our Testimonial Letters
Going Green/ Complete Info

For further information Phone:      Paul Stillwaggon  (908) 561-5492 Cell: (908) 310-1358 Pat Cornish   (908) 561-6499 Cell: (908) 578-0890

You can Email us at:      njestates@gmail.com We are located at:      55 Stirling Road,      Watchung, NJ 07069

 It's not always what buyers can see in a home that causes them to want to buy it or not. Sometimes it's the way the home feels. I'm not talking about staging, the size, or how spacious the home is, although those factors are important too. In this column I'm focusing on how buyers' allergies may be affected when they tour your home.

	New Jersey Estates/ Weichert Realtors Paul Stillwaggon & Pat Cornish June 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

"We have about 300 million Americans and about 60 million of them have allergies or asthma," says, Mike Tringale, Director of External Affairs for the Asthma and Allergy Foundation of America (AAFA).

Allergy problems can be debilitating for sufferers. Many will go to great lengths to avoid any possible influences that might bring on symptoms. Allergies and asthma are increasing, Tringale says, "some of that may actually be because of the houses we're living in." He adds, "it all comes down to the air quality in the home." According to AAFA, there are some simple steps that you can take to help clear the air in your home and reduce any harmful fumes-making it more appealing to those with allergies and even those without.

Tringale says do this three-step process: take an organized approach to looking at how your home is built, look at materials used in your home, and understand the types of cleaning agents that you're using and how they can affect indoor air quality.

Check for mold. Mold is one of the most common indoor allergens. "Look for cracks in foundation. Check to see if the windows are completely sealed or if moisture is getting in-too much moisture can lead to a mold problem," says Tringale. He adds that there are also housing products, such as wallboard, that are mold resistant. So be sure to check for those items when replacing housing materials.

Clean with hydrogen peroxide or sodium perborate not bleach. Bleach is a common cleaning chemical but it has a very strong odor and, people with highly sensitive allergies to bleach, often immediately can sense symptoms coming on even if with just a brief exposure to the chemical.

Use PVC-free shower curtains. Hard to imagine that a pretty shower curtain can wreak such havoc on people's allergies, but the polyvinyl chloride shower curtains can release more than 100 volatile organic compounds (VOCs) including two (toluene and xylene) that are classified as hazardous pollutants by the Environmental Protection Agency. Having PVC shower curtains hanging around while your home is being shown can make those suffering from allergies feel the need to escape quickly.

Opt for area rugs instead of wall-to-wall carpeting. The U.S. Green Building Council provides information on "going green," the Council says carpeting can be particularly troublesome because the padding underneath is very difficult to clean or remove for drying. Carpets also harbor dirt, organic detritus, and moisture and can become a significant source for mold and mildew. Instead use area rugs over a hard-surface floor. The Council also recommends avoiding all biocide-treated (moth repellent) wool or cotton carpets.

Use products that contain low volatile organic compounds (VOCs). A lot of homeowners will paint just before they list their homes for sale. But Tringale says, if you do, be sure to use paints that contain low VOCs. "Many paints contain volatile organic compounds and smells that can linger for weeks and cause all kinds of symptoms including eye irritations for people," says Tringale.

"If you're re-staining your floors ask for the low VOC stains, or even better, put in pre-treated floors rather than raw wood that you then have to apply polyurethane over the top of," says Tringale. He cautions sellers to "Make smart choices; otherwise you're going to have a house that is really chemically offensive to buyers who are walking through." For more information visit asthmaandallergyfriendly.com.


Written by Phoebe Chongchua
June 19, 2009 

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For further information Phone:      Paul Stillwaggon  (908) 561-5492 Cell: (908) 310-1358 Pat Cornish   (908) 561-6499 Cell: (908) 578-0890

You can Email us at:      njestates@gmail.com We are located at:      55 Stirling Road,      Watchung, NJ 07069

  Unveiling of President Obama's far-reaching plans to reform the U.S. financial regulatory system - including important changes affecting home mortgages and real estate.

New Jersey Estates/ Weichert Realtors Paul Stillwaggon & Pat Cornish

June 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE

Copyright © 2009 Realty Times

There's no question about what had Washington buzzing the most last week - and that buzz is likely to continue for months.

It was the unveiling of President Obama's far-reaching plans to reform the U.S. financial regulatory system - including important changes affecting home mortgages and real estate.

Though the plan is aimed mainly at banks, hedge funds, Wall Street and insurance companies , it also focuses on protecting consumers who take out mortgages, credit cards and other forms of debt.

Obama wants to create a new super-department - called the Consumer Financial Protection Agency - that would have the power to review, regulate and even ban loan products considered too risky for the mass market consumption.

It would be able to oversee first and second mortgages marketed by any source - from banks to mortgage companies, credit unions or brokers.

For Realtors, builders and mortgage companies, the new agency would take over a slew of important legal powers. For example, it would become the sole regulator for RESPA - the federal Real Estate Settlement Procedures Act.

That law, administered by HUD since 1974, covers many key aspects of the home buying process - from the upfront "good faith estimates," or GFE, disclosures to the settlement sheet itself.

Equally important, RESPA bans kickbacks, sets guidelines for title insurers and settlement service providers, and creates complex rules governing all "affiliated businesses" in the real estate, mortgage and title fields.

Under the Obama plan, all this would be shifted from HUD to a new, potentially more aggressive consumer protection agency.

The new department would also get full authority over the Truth in Lending Act from the Federal Reserve Board and the Federal Trade Commission.

It would also be the sole regulator for the Equal Credit Opportunity Act, the Home Mortgage Disclosure Act, and the Fair Debt Collections Practices Act - all of which are now in other agencies' bailiwicks.

The White House white paper covering the plan said the new agency "should give consumer protection an independent seat at the table in our financial regulatory system."

Though real estate and mortgage trade groups generally made muted comments on the Obama plans, bankers came out swinging.

Edward Yingling of the American Bankers Association said his members "are dumfounded by the scope" of the consumer protection agency - creating a whole new layer of oversight and bureaucracy.

"It's not like the current regulators don't (already ) have all the authority they need," he said.


Written by Kenneth R. Harney
June 22, 2009 

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For further information Phone:      Paul Stillwaggon  (908) 561-5492 Cell: (908) 310-1358 Pat Cornish   (908) 561-6499 Cell: (908) 578-0890

You can Email us at:      njestates@gmail.com We are located at:      55 Stirling Road,      Watchung, NJ 07069

  Like a train, a transaction can get derailed at any point on the track. A closing can be hit by a clouded title, a home not appraising for value, a rapid change in interest rates, an undisclosed credit or income issue, or one of countless other unanticipated issues.

	New Jersey Estates/ Weichert Realtors Paul Stillwaggon & Pat Cornish June 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

Choke points cause delays and delays cause all kinds of problems for buyers, sellers, and agents. Moving plans get thrown into disarray. Interim housing or early-possession requests become necessary. Contingency plans need to be thrown together. Nerves get jangled. The resulting situation can be a nightmare even for the most seasoned agent, and a productivity killer as well.

Eighty percent of the problems in closing transactions fall into three basic areas. Stay on the lookout for these problems and solutions to steer your transactions clear of as much trouble as possible:

1. Documentation and verification: Lenders needs to assemble considerable paperwork and complete dozens of documents based on information submitted by the loan applicants. Then they need to verify all information for accuracy by checking the applicant's employment status, funds on deposit, and income level. The document preparation and information verification process takes time. Counsel your buyers that if they fail to submit the required information on a timely basis, or if they turn it in piecemeal and bit-by-bit, delays are certain to result.

2. Repairs, repairs, repairs: This is a chokepoint that good advance planning can avert. When you are representing the seller, state clearly in writing that only lender-required repairs will be done. If you don't, you leave the sellers open to the risk that the buyer will come back with a laundry list of items.

A lender-required note usually limits repairs to structural, mechanical, or health and safety issues - with not a word about nicks in a walls or non-matching door knobs.

Also consider writing a dollar limit for repairs into the initial contract. The number isn't etched in stone, but it will help keep a lid on the potential amount for which your seller is responsible. The buyers may still refuse to lift the home inspection contingency until additional lender-required issues are dealt with, but the limit will help most of your sellers most of the time.

3. Underwriting of the buyer's loan: This is the stickiest of all closing choke points because the underwriter has complete power to approve the loan, approve the loan with additional conditions, or suspend the file until certain conditions are met, in which case the borrower starts the underwriting process all over again.

Underwriters check to make sure that the loan meets guidelines for debt ratio, loan-to-value ratio, credit score, employment history, and other qualifications. They also evaluate the loan based on whether it can be bundled with others in a big loan package that can be sold to Fannie Mae, Freddie Mac, or another entity that buys mortgages.

Very few lending institutions hold their loans to maturity. Most write loans, realize profits through origination fees, document preparation fees, and margins on basis points, and then sell the loans within 30 to 60 days, recouping the loan amount to sell again as part of the next loan deal.

If the underwriter approves a loan that can't be resold, then the lending institution has to keep the loan in its portfolio. If that situation occurs too often, and too many loans can't be resold, the lending institution runs out of money to loan, driving it out of business.

Of all the choke points in a transaction, the underwriting process can cause the biggest delays. Expect that there will be times when underwriters slow things down with requests for second appraisals or additional documentation of value, especially if the home is in a high price range. Once you clear the hurdle, the documents can be drawn and sent to closing.


Written by Dirk Zeller
June 19, 2009 

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For further information Phone:      Paul Stillwaggon  (908) 561-5492 Cell: (908) 310-1358 Pat Cornish   (908) 561-6499 Cell: (908) 578-0890

You can Email us at:      njestates@gmail.com We are located at:      55 Stirling Road,      Watchung, NJ 07069

Recently, the U.S. Secretary of Energy encouraged Americans to paint their roofs white, in an effort to reduce global warming by both conserving energy and reflecting sunlight back into space. Speaking in London prior to an international summit on combating climate change, Dr. Chu said that the simple act of painting roofs white could have a dramatic impact on the amount of energy used to keep buildings comfortable. A white roof is a good idea, but a highly reflective metal roof is even better. New technologies allow even darker colored metal roofs to absorb less heat through the use of highly reflective pigments that reflect solar energy.

New Jersey Estates/ Weichert Realtors Paul Stillwaggon & Pat Cornish

June 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE

Copyright © 2009 Realty Times All Rights Reserved

"The EPA reports that $40 billion is spent annually in the United States to cool buildings. That's an extraordinary amount of money," states Tom Black, executive director of the non-profit Metal Roofing Alliance (MRA). "We applaud Dr. Chu's intent, however in reality; white roofs aren't feasible for most homeowners. Curb appeal rules. The good news is that highly reflective residential metal roofing is available in a wide variety of styles and colors to suit any home." For example, a study conducted by Oak Ridge National Laboratory found that installation of a reflective metal roof can save homeowners up to forty percent in summer cooling costs. Highly reflective metal roofing panels are created with special pigment paints that reflect the sun's energy in the infrared spectrum thus reducing the heat load transferred to the interior of the structure.

The time is right for homeowners to choose a better roofing system that provides both long and short-term savings. The Stimulus Package signed in February 2009 states that homeowners who make energy efficient updates to their home -- including the installation of a painted or coated Energy Star labeled metal roof -- between January 1, 2009 and December 21, 2010, may be eligible for a tax credit worth 30 percent of the installation costs (materials only) up to $1,500 per home.

In addition to energy savings, metal roofing is cost effective, more durable and longer lasting than most other materials. While the initial cost for a premium metal roof is higher than most other roofing materials, you'll save money in the long run. A metal roof can last a lifetime -- the average life of a non-metal roof is 17 years -- whereas materials like asphalt require reproofing every 10 to 20 years. Plus, no matter the kind of roofing style, there's a metal roofing style to match. Today's metal roofing looks just like common roofing material such as asphalt shingle, clay tile, cedar shake or slate. In addition, as opposed to non-metal roofing material that begins to deteriorate as soon as it's exposed to elements such as the UV rays of the sun, temperature changes, severe storms, and high winds, a metal roof will never deteriorate, and can withstand most everything Mother Nature throws its way. Lastly, a metal roof can also increase the resale value of your home, and in some states, like Texas, a metal roof is reported to lower homeowner's insurance by 35 percent.

With consumers looking for ways to be 'green,' metal roofing offers builders yet another way to market their properties.

[Editor's Note: For more information, visit www.metalroofing.com.]


Written by Peter L. Mosca
June 17, 2009 

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When distressed homeowners approach you to request assistance, encourage them to explore all of their options and get second, third, or even fourth opinions before choosing a course of action.

New Jersey Estates/ Weichert Realtors Paul Stillwaggon & Pat Cornish

June 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE

Copyright © 2009 Realty Times All Rights Reserved.

Sometimes when you see a doctor about a particular ailment, the diagnosis and treatment you receive depend on the doctor you see. Visit your family doctor about back pain, and she's likely to prescribe a pain reliever and perhaps a muscle relaxant or anti-inflammatory medication. Consult a chiropractor, and he schedules you for adjustments. A psychiatrist may think your back pain has something to do with your repressed childhood memories. A neurologist may trace the problem back to a pinched nerve. The same thing seems to happen when homeowners in default consult experts for advice:

 

• Real estate agents may recommend selling the home or doing a short sale.

   

• Mortgage brokers are more likely to recommend refinancing or a short-refi.

   

• Bankruptcy attorneys are more likely to recommend filing for bankruptcy, especially if the homeowners have a lot of unsecured debt (such as credit card debt).

   

• Loan modification specialists will recommend a loan modification for anyone who qualifies.

   

• Lenders may offer some sort of forbearance agreement followed by a re-payment plan to catch up on missed payments.

   

• Credit counselors may encourage homeowners to consolidate their debt and budget more carefully.

   

• Real estate investors may step in to purchase the home before, at, or after the auction and then sell it back to the homeowners with a lease-option agreement or land contract.

   

• Authors of foreclosure self-defense books are likely to recommend that homeowners buy their books and pursue options on their own.

   

• Radical consumer advocates (perhaps friends and relatives) may recommend that the homeowners stop making payments and refuse to move out or simply abandon the property and mail the keys to the lender... or not.

The point here is this: When distressed homeowners approach you to request assistance, encourage them to explore all of their options and get second, third, or even fourth opinions before choosing a course of action. Homeowners need to assess their situation honestly, figure out what they really want, determine which options they can reasonably pursue, and develop an understanding of what each option means for them in the long term. Every situation is different. For many homeowners, the best option will be to seek a loan modification with their current lender. Others would be more qualified and better off refinancing. Some would fare better declaring bankruptcy or selling a home they really cannot afford to keep.

As a real estate professional, one of the most valuable services you can offer distressed homeowners is to refer them to other specialists in the field who are best qualified to serve their unique needs. Sometimes, this means you get their business. Other times, you may lose a particular client's business for the time being. In the long run, however, you build credibility and trust, which always pays dividends. I encourage you to study up on the various foreclosure alternatives and then build a referral network that can assist distressed homeowners in their time of need, whatever their needs may be.

Ralph R. Roberts is a consumer advocate, spokesperson for Federal Loan Modification Law Center, host of KeepMyHouse.com, and author of numerous books, including Foreclosure Self-Defense For Dummies and Loan Modification For Dummies (Summer, 2009). Ralph is based in Sterling Heights, Michigan and can be reached at RalphRoberts@RalphRoberts.com.


Written by Ralph Roberts
June 15, 2009 

For further information Phone:      Paul Stillwaggon  (908) 561-5492 Cell: (908) 310-1358 Pat Cornish   (908) 561-6499 Cell: (908) 578-0890

You can Email us at:      njestates@gmail.com We are located at:      55 Stirling Road,      Watchung, NJ 07069

COMPLETE INFO UPDATED DAILY

Current Listings Info
Luxury New Homes
Custom Build A New Home
Land & Building Lots
New Jersey Estates
All New Jersey Homes
Real Estate Listings Blogs
Real Estate Info Blogs
Open Houses & Directions
Our Testimonial Letters
Going Green/ Complete Info