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

According to researchers of the Financial Trust Index (University of Chicago and Northwestern University) 81% of homeowners interviewed agreed with the statement that "it is morally wrong to walk away from a house when one can afford to pay the monthly mortgage."

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved

Are these survey respondents correct? Is it really morally wrong to intentionally default on a mortgage debt? And, if it is, is it what we might call a grave or really serious moral wrong, or might it better be classified along with "white lies" and other "technically wrong" behaviors that many would think do not reflect a serious defect of character? To lean on some classic Roman Catholic distinctions, might "walking away" be more of a venial sin than a mortal one?

An examination of these questions is not simply an idle academic exercise. The Financial Trust Index research estimates that 26% of present foreclosures are "strategic". A strategic foreclosure occurs when the borrower is able to make the payments, but simply chooses not to. Moral considerations play a major role in preventing strategic defaults.

Of course, moral considerations are not the only ones that play a role in deterring strategic defaults. There are also credit, and sometimes tax, issues as well. Nonetheless, the moral component has been shown to be an important one.

Depending on whose statistics you believe, somewhere around 20% of homeowners in the United States are "under water". That is to say, they owe more on their mortgage than their home is worth. Many of these are candidates for strategic default. Moreover, Deutsche Bank recently released an analysis predicting that about 48% of homeowners would be under water by the first quarter of 2011. Lots more candidates.

Why shouldn't one voluntarily default on a mortgage that substantially exceeds the value of the home? Why throw "good money after bad"? Wouldn't walking away represent a prudent allocation of available assets? Without a doubt, doing so will entail a cost in terms of available credit. But this may well not be determinative.

What about the moral constraint? Is it really wrong - or how wrong is it - to voluntarily default on a mortgage?

Before addressing this question directly, it would be appropriate to mention at least two points of view. One is that something is wrong if, and only if, you feel that is wrong. Essentially, you cannot be wrong about your moral evaluations. Another is that all wrongs are equally wrong. There are no gradations. If a person holds either of these views, there is probably nothing more to say.

Having noted these minority exceptions, let us address the majority.

Among those who were surveyed, the immorality (or the seriousness of it) of walking away from a mortgage loan had a lot to do with the circumstances. If a home were only (only!) $20,000 under water, only 7% of those who thought it morally wrong would walk away. But the percentages increased as the negative equity increased. 37% of those who thought that voluntary default would be morally wrong would, nonetheless, walk away from a home that was $200,000 upside down.

Does this show moral weakness, or does it show moral sense? Those with a moral sense know that, on the face of it, it is morally wrong to break one's promise. But conditions, most would agree, have a bearing on that judgment. Promise-keeping is not the highest moral value. If I promised to lend you my gun, and you are now in a clearly dangerous psychotic stage, breaking my promise would be the right thing to do, not a wrong.

Here, the duty to keep a promise is outweighed by the duty not to put others - perhaps even one's self - in preventable danger.

Analogous thinking provides moral justification, in some cases at least, for strategic default. While a person may have a moral obligation to keep his or her promise to pay, other considerations - moral considerations - can outweigh the obligation. Maintaining the overall welfare of one's family is a duty that would have a higher moral priority.

Beyond the observation that promise-keeping is not the highest moral value, it is also important to remember that a mortgage note is not like a typical promise. To be sure, almost all notes contain the phrase "I promise to pay..." Still, with a mortgage, the borrower and the bank make a deal. The deal is: "if I don't pay, you can have the property."

Mortgages are secured notes. They are not like borrowing from your grandmother. If you willingly default to her, shame on you. She has no recourse. But, if you default to the bank, they can take your property. That is the deal they made. The property may not be worth what they lent you, but whose fault is that? They are big boys and girls. They made a business decision, and in today's market, they lost. (No wonder that so many appraisals are now coming in under current market value.)

Moral considerations are one of the chief barriers to strategic defaults. They probably exert more weight than they should. The lender made a deal. If you don't pay, he gets the property. So now, in 2009, he gets the property; and he doesn't like it. That is regrettable; but a deal is a deal.


Written by Bob Hunt
September 29, 2009 

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You may have seen the headlines last week about the Federal Reserve continuing its policy of keeping interest rates low to stimulate the economy. But you might have missed a major byproduct of that move that's certain to have a direct impact on home real estate: Thirty-year fixed mortgage rates slipped below the five percent mark for the first time in nearly half a year, dipping to 4.9 percent.

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

Fifteen year fixed rates are just 4.4 percent.

Now, there's nothing more stimulating for home buyers than mortgage money at rates that are about as low as they go. And sure enough, applications for new mortgages jumped by nearly 6 percent last week, according to the Mortgage Bankers Association.

Applications to buy homes using FHA financing soared to the highest share in the history of the Mortgage Bankers' index - which goes back to 1990.

Meanwhile, existing home sale closings took a breather from the rapid increases of the past several months, according to the National Association of Realtors. Sales in August declined by 2.7 percent, but remained 3.4 percent higher than they were in August of 2008, said Lawrence Yun, chief economist for the Realtors.

He attributed the slightly lower rate of closed sales in part to clogs in the system -- more contracts being written, but longer wait times to go to closing, leading to a higher rate of fallouts.

In other key developments:

The index of leading economic indicators, which is produced by the Conference Board and forecasts economic activity three to six months down the road, was up again last month -- by six tenths of a percent.

That was the fifth straight month of higher readings for the index, and would have been higher had unemployment not held it back, according to analysts.

Home prices continued their slow gains, according to the Federal Housing Finance Agency. Its home price index, which is based on Fannie Mae and Freddie Mac transactions, found prices up by three tenths of a point nationwide in the latest survey month.

That coincides with most private price indexes, which have found that we're past bottom and headed back up in most parts of the country.

Finally, the private mortgage insurance industry, which virtually eliminated low-downpayment financing opportunities in many markets during the past year by declaring them "declining" or "distressed," has begun reversing course.

Genworth Mortgage Insurance Company last week removed 63 of its 68 previous designations of "declining markets." That should open up non-FHA cash-out refinancings and low-downpayment home purchase mortgages to thousands of people who'd been squeezed out under the old rules.


Written by Kenneth R. Harney
September 29, 2009 

New Jersey Estates
Real Estate Groups Web Site
www.NewJerseyEstates.Net
Unique Visitors

August 2009 14,460 Visitors
July 2009 18,268 Visitors
June 2009 16,365 Visitors -- Contact Us

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

What type of investment real estate has been holding up best in tough economic times? Everybody's heard of the problems in commercial and retail - but how about multifamily apartments? You just might be surprised.

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

According to National Association of Realtors research economist George Ratiu, while almost every type of commercial or income property has had a rough going in the past two years, "the (rental) apartment sector continues to maintain a stronger performance compared with other sectors." Those include office buildings, which have seen widespread property value declines -- and retail real estate, which has been particularly hard hit as consumers penny-pinched during the recession and stayed away in droves. Multifamily, on the other hand, has done better holding value, keeping units filled and rent rolls stable or growing. During the second and third quarters of this year, demand for rental apartments as measured by net absorption, increased by more than 89,000 units nationwide. Rental building owners have done particularly well in keeping vacancies low, with rates in some major metropolitan markets in the five percent range. For example, apartment buildings in Pittsburgh, where the excesses of the real estate boom years never produced speculative overbuilding, had just a 3.5 percent average vacancy rate during the third quarter just ended, according to Ratiu. In northern New Jersey, vacancies were four point three percent. In San Diego and Philadelphia, 5.1 percent. In Washington D.C., San Jose and Albuquerque vacancies averaged 5.5 percent. Of course, not all apartment markets are doing that well: In Tucson and Phoenix, vacancies are expected to hit or exceed 11 and 12 percent, respectively. The national vacancy rate stands at about 7.4 percent -- well below where it was in previous recessions and remarkable in view of an unemployment rate just under 10 percent. Other evaluations of the relative performance of multifamlly investments have come to similar conclusions. The National Council of Real Estate Investment Fiduciaries, which has no ties to any particular segment of the industry, reported earlier this year that multifamily investment returns exceeded all others during the 10-year period it studied. Similarly, a report from Boston-based Torto Wheaton Research for the National Multi Housing Council, found that over the past 20 years, apartment building investments have averaged returns of ten point one percent compared with nine and a quarter percent for industrial real estate and seven point eight percent for office buildings. Bottom line: There is no risk-free real estate investment. But apartments perform well even in bad times, so they're worth a look. Written by Kenneth R. Harney September 25, 2009    New Jersey Estates Real Estate Groups Web Site www.NewJerseyEstates.Net Unique Visitors August 2009 14,460 Visitors July 2009 18,268 Visitors June 2009 16,365 Visitors -- Contact Us - Back - Paul Stillwaggon, For All Your Real Estate Needs Contact NJ Estates Real Estate Group E-mail: njestates@gmail.com Web: http://www.newjerseyestates.net 908-561-5492 (Paul S) 908-310-1358 (Cell) NJ Estates Real Estate Group Weichert Realtors 908-561-5492 55 Stirling Road, Watchung, N.J. 07069 Equal Housing Opportunity

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Luxury is relative, not absolute, so your point of view on the subject really matters. In the midst of these stressful times, the need to rejuvenate and refresh your thinking has never been greater. This "mental space" is not a luxury, but a necessity.

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved

When and where do you give yourself time to listen to nothing and to think about what drifts into your over-stimulated mind? Luxury, and its adjective form luxurious, are overused, often poorly-applied words in marketing. The concept at the root of them is something that few people really stop and think about. Do you know what luxury really means to you? Rarity, cost, quality and craftsmanship are integral elements of generic luxury. Salesmanship reveals the value of luxury in real estate and design to targeted consumers. But luxurious materials or craftsmanship do not always create true luxury. For instance, a cleverly-created floor of rare marble is not automatically a luxury. If it lies in an entrance way where it frequently becomes wet with tracked-in rain, and therefore as slippery as a sheet of ice, it is definitely a liability. Museums often house items of luxury as do money's-no-object homes and the businesses that cater to these owners, but luxury is not always material nor is it the sole domain of the extremely wealthy. Life without at least occasional luxury is hard. Increasingly, as maturity naturally shifts personal value from the acquisition of "you can't take it with you" material objects and toward character-building, value-reaffirming experiences, boomers and their multi-generational families will chase luxury differently and in different places ... but that's a discussion for another time. Here, we explore Decisions & Communities, so this perspective on luxury has a pre-defined context. You can apply the ideas to your personal life and if, your work requires you to view the world from your clients' perspective, through theirs as well. When it come to real estate, luxury is not just the high-end finishes and materials described in marketing. Deciding what is an important luxury to you is essential to determining value, especially in discretional spending, whether that's for interior design features or when shopping for recreational property. For instance, if you live a fast-paced, noisy life, driven by responsibilities and the wishes of others to plan every moment of every day, then calm, unstructured time, filled by your impulses and your reactions to interests and adventures is a luxury. This could be as delicious as time to sit and read in the midst of a striking natural setting or as simple as resort living that offers everything with flair, including the time and space to do nothing. As research for my next book, I visited Poets Cove on Pender Island, British Columbia (BC) to explore their fractional offering, While there, I was struck by how a physical setting and the time to enjoy it has become a luxury in today's frantic world. It also became clear that, tainted by recessional thinking, we may ignore the replenishing power of a mental holiday as a starting point for turning this "lemon" economy into something decidedly palatable. Yes, they tell us the recession is over, but what will shift your thinking into a creative forward mode? To take a break, seek out a definite change from the familiar. For instance, a 40 minute ferry ride from the BC Ferry Terminal at Swartz Bay on Vancouver Island and you're on North Pender Island, which is joined to South Pender Island by a short, picturesque, one-lane bridge. The winding road to Poets Cove Resort & Spa takes you through towering forests and past one-of-a-kind waterfront recreational homes, rugged rocky shorelines and pastoral farm fields until at the last curve the view opens up to reveal colourful arts and crafts buildings on the hillside sloping down to the inlet of Bedwell Harbour. Build in 2004 by Alberta developers intent on bringing up-scale fractional ownership to the Southern Gulf Islands, Poets Cove remains Pender Island's stunning surprise. It skillfully blends high-comfort design with BC-style outdoor living. Boaters and sailors seek out this spot, as do those who chose to fly from Victoria, Vancouver or near-by American cities. On trend with eco-sports and back-to-nature pastimes like hiking Mount Norman or kayaking in Beaumont Marine Park, will keep you busy, but this is also a great place to do nothing. The busy marina is a pleasure to watch even if you prefer land sports. Both outside pools offer terrific views and great contemplative lounging if you want a change of pace from the patio off your lodge suite, villa or private cabin. Yes, there's wireless, but if you can bring yourself to disconnect, this is a great place to unplug your brain. What local spot came to mind when you read that description? Mental time out is both restorative and energizing. If you don't have your own Poets Cove to visit, where and when do you turn it all off? "There's nothing to do," should be your goal. Not because there aren't activities galore and distractions to explore, but because you've actually decided to stop working, texting, tweeting and acting like the world can't get on without your input for a few days. So the goal is to do little but rest and luxuriate-everything that this means to you.     Perhaps you're fortunate enough to have a home or cabin that affords this "mental space" if you'd just unplug and take advantage of it for a few hours or a few days.   You may have a favourite park or inn that is your escape from the high tension world. Check out rates and specials. Most businesses are making it easy for us to say yes to a visit.   If you would like to buy a haven, why not explore the fractional and recreational offerings in your chosen area for a value equation that makes sense to you?   Those considering a move to a condominium or lifestyle complex may discover that a guest suite is available at a very reasonable rate, so they can experience the community first hand.   Sometimes telling everyone you're going away for a few days, then staying home and unconnecting can be that luxury mental break. When's the last time you visited your favourite place to think? Written by PJ Wade September 22, 2009    New Jersey Estates Real Estate Groups Web Site www.NewJerseyEstates.Net Unique Visitors August 2009 14,460 Visitors July 2009 18,268 Visitors June 2009 16,365 Visitors -- Contact Us - Back -

Paul Stillwaggon, For All Your Real Estate Needs Contact:  NJ Estates Real Estate Group E-mail: njestates@gmail.com Web: http://www.newjerseyestates.net 908-561-5492 (Paul S) 908-310-1358 (Cell) NJ Estates Real Estate Group Weichert Realtors 908-561-5492 55 Stirling Road, Watchung, N.J. 07069 Equal Housing Opportunity

Now it's official. The chairman of the Federal Reserve Board himself has said it publicly that it looks like the recession is over. Here comes the recovery.

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

But there was a big footnote in Bernanke's speech on the economy last week in Washington: Don't look for a dramatic recovery. It'll be more like a slow moving, plodding sort of improvement where the economy inches toward expansion. But there'll be no sudden, splashy return to economic boomtime anytime soon. Bernanke's point about the end of the recession was underscored by a 2.7 percent jump in retail sales for the month of August, according to the Commerce Department. That's an important indicator because the key to pumping up the economy again is to get consumers spending, and that appears to be happening. Not just for auto sales, which got a big boost in August from the government's "cash for clunkers" program, but also for other key categories, like food and clothing purchases, department store retail, entertainment and restaurant spending, sporting goods. They were all up for the month, after having been mainly down for well over a year. One reason for the pick-up in consumer spending: People feel more confident about the direction of the economy in the months ahead. They see the stock market up, so their retirement funds and 401 K plans are bouncing back. They see home values stabilizing or growing in most areas, so their equity is beginning to increase again. The one big negative -- and it's definitely a drag for housing -- is the unemployment rate, which Mr. Bernanke said won't be coming down fast, even with the end of the recession. Nonetheless, the vast majority of Americans who do have jobs have seen their real wages rise this year, up five percent. That's the largest annual gain in fifty years. All of this is feeding into the housing sector in key markets, such as southern California, where August sales were up 11 percent compared with the year before, according to MDA DataQuick. Even prices are rising slightly. In the combined markets of Los Angeles, San Diego, Orange County, San Bernadino-Riverside and Ventura, the median price of homes sold gained 2.6 percent in August, which is very encouraging for one of the hardest-hit boom-to-bust areas of the country. Meanwhile, the mortgage market continues to be exceptionally positive for housing sales and values: 30 year fixed rates averaged just above 5 percent last week, according to the Mortgage Bankers Association, and 15 year loans averaged 4.4 percent. Written by Kenneth R. Harney September 22, 2009    New Jersey Estates Real Estate Groups Web Site www.NewJerseyEstates.Net Unique Visitors August 2009 14,460 Visitors July 2009 18,268 Visitors June 2009 16,365 Visitors -- Contact Us - Back -

Paul Stillwaggon, For All Your Real Estate Needs Contact: NJ Estates Real Estate Group E-mail: njestates@gmail.com Web: http://www.newjerseyestates.net 908-561-5492 (Paul S) 908-310-1358 (Cell) NJ Estates Real Estate Group Weichert Realtors 908-561-5492 55 Stirling Road, Watchung, N.J. 07069 Equal Housing Opportunity

The first major change to the $8,000 home buyers tax credit began moving through Congress last week, giving hope to real estate and building groups pushing for extension of the entire program before it expires Nov. 30.

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

House Ways and Means Committee chairman, Congressman Charles Rangel, a New York Democrat, combined several smaller bills into the "Service Members Home Ownership Act of 2009" late last week, with a floor vote expected this week. The bill is intended to correct a flaw in the original tax credit legislation: By requiring buyers to occupy and own their first home for 36 months to fully qualify for the credit, the program creates serious problems when military, Foreign Service and intelligence agency personnel are transferred overseas. During their absence, they are not occupants of their houses, and sometimes have to rent them out or sell. Any of these events make them ineligible to retain the $8,000 credit under current law. Ineligible buyers must then repay the credit to the IRS. Oregon Congressman Earl Blumenauer, sponsor of one of the bills consolidated into Rangel's, said "it is absurd that thousands of Americans serving our country, away from friends and family ... must choose between their service work and home ownership." The Ways and Means committee's bill would waive the repayment requirement when a service member must sell a home within the 36 month period because of a transfer to a new duty station or overseas, and would count service-related absences toward the 36 month requirement. Another provision in the bill would extend the $8,000 credit for another year for personnel who may have missed out on claiming the credit because they thought they wouldn't qualify due to an overseas posting. The credit for these individuals would be extended to November 30, 2010 from November 30, 2009, provided the served outside the U.S. for at least 90 days during calendar year 2009. The bill, which has bipartisan support, could be sent to the Senate for action as early as next week, Congressional sources told Realty Times. More important for the housing market overall, however, is the precedent set by the bill's extension of the credit for an extra year. It's not a far leap from that position to a general extension of the entire $8,000 credit program to the same date. The National Association of Realtors, National Association of Home Builders and the Mortgage Bankers Association jointly sponsored an ad campaign last week aimed at convincing Congress to give the credit program another year. Realty Times will keep you on top of this fast-moving issue as it develops. Written by Kenneth R. Harney September 21, 2009    New Jersey Estates Real Estate Groups Web Site www.NewJerseyEstates.Net Unique Visitors August 2009 14,460 Visitors July 2009 18,268 Visitors June 2009 16,365 Visitors -- Contact Us - Back -

Paul Stillwaggon, For All Your Real Estate Needs Contact New Jersey Estates Real Estate Group E-mail: njestates@gmail.com Web: http://www.newjerseyestates.net 908-561-5492 (Paul S) 908-310-1358 (Cell) New Jersey Estates Weichert Realtors 908-561-5492 55 Stirling Road, Watchung, N.J. 07069 Equal Housing Opportunity

McLEAN, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.04 percent with an average 0.7 point for the week ending September 17, 2009, down from last week when it averaged 5.07 percent. Last year at this time, the 30-year FRM averaged 5.78 percent. The last time the 30-year FRM was lower was the week ending May 28, 2009, when it averaged 4.91 percent.

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

The 15-year FRM this week averaged 4.47 percent with an average 0.6 point, down from last week when it averaged 4.50 percent. A year ago at this time, the 15-year FRM averaged 5.35 percent. This is the lowest the 15-year FRM has been since Freddie Mac started tracking it in 1991. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.51 percent this week, with an average 0.5 point, up from last week when it averaged 4.51 percent. A year ago, the 5-year ARM averaged 5.67 percent. The one-year Treasury-indexed ARM averaged 4.58 percent this week with an average 0.5 point, down from last week when it averaged 4.64 percent. At this time last year, the 1-year ARM averaged 5.03 percent. "Interest rates for fixed-rate mortgages eased for the third consecutive week and remained at 3-month lows," said Frank Nothaft, Freddie Mac vice president and chief economist. "Interest rates for 30-year fixed-rate mortgages have averaged just above 5 percent through mid-September, which is roughly a percentage point below last year's average and suggests that 2009 may reach a record annual low since the survey began in 1971." "Low mortgage rates are aiding new home construction. Housing starts for single family homes have increased consecutively over the five past months ending in July, although starts eased slightly in August. Moreover, homebuilder confidence improved for the third straight month in September, with all four regions showing positive gains, according the National Association of Home Builder's Housing Market Index." September 18, 2009    New Jersey Estates Real Estate Groups Web Site www.NewJerseyEstates.Net Unique Visitors August 2009 14,460 Visitors July 2009 18,268 Visitors June 2009 16,365 Visitors -- Contact Us - Back -

Paul Stillwaggon, For All Your Real Estate Needs Contact New Jersey Estates Real Estate Group E-mail: njestates@gmail.com Web: http://www.newjerseyestates.net 908-561-5492 (Paul S) 908-310-1358 (Cell) New Jersey Estates Weichert Realtors 908-561-5492 55 Stirling Road, Watchung, N.J. 07069 Equal Housing Opportunity

The simple fact that the internet is a part of the returning real estate market is not big news, but with so much information coming out so fast, understanding it can be difficult. This article is the third in a series of six that decodes the basics, and even some mild intricacies, of the world of electronic marketing and will show you how to compete and succeed in an area of marketing where you might have previously feared to tread. In this part I will break down social networking into its basic parts and explain how it works to your advantage to incorporate social networking into your marketing strategy.

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

Social Networking

Social Networking has actually existed on the internet for quite a long time. The first act on the then ARPAnet (now internet) was a student sending a transmission from UCLA to Stanford that simply said 'login.' Unfortunately the system crashed after the 'o' but it eventually worked an hour later. Ever since that time we have been working on better ways to interact with one another via the internet - hence social networking.

Today's social networking pallet is an evolutionary jump from the roots of text based multiplayer games and fido-net based BBS's (Fidonet was similar to the internet, but transmissions only occurred twice a day over phone lines). There seems to be something for everyone.

Whether you are looking for a younger platform such as MySpace or something more professional such as LinkedIn, there is a social network for you out there. If you look hard enough you can find a social network for nearly anything. As a matter of fact there are social networks that you might not believe exist. Hamsterster is a social network for rodent owners, Zii Trend for amateur clairvoyants and prognosticators, and Lost Zombies a site for zombie enthusiasts. With options like that, it is obvious that there are social networking options for nearly everyone and nearly every interest.

Why You Should Get Involved

There are three practical reasons to get involved in social networking. The first of these is marketing; social networking gives you the opportunity to brand yourself - either the way that you wish to be branded, or as a readily available expert in your field, thereby connecting you to new customers. The second reason is that it connects you to existing customers. Larger companies such as HP have actually created customer service profiles on Facebook and Twitter and you are far more likely to get more personalized service through those mediums due to the fact that those service reps are relegated to those particular services.

The third reason is personal; to engage in social networking for your own education, need for affiliation, and the opportunity to give your skills a freshening up.

Social Networking for You

Fortunately, as a real estate agent, you have many options for your personal use. There are a number of quality social networking sites that take different forms. Try one or more and find the ones that work best for you as an agent. Let's be honest, we can always benefit from other's advice. Let's examine a few of the more popular sites:

Active Rain (activerain.com) - Starting with Active Rain is a must. Not because it is the oldest, or necessarily even the best network for everyone, but they have done the best job of making themselves present in the real estate marketing world. I find Active Rain slightly confusing to navigate, but with the number of resources available at Active Rain it simply cannot be ignored. Users: 150,000+

Real Town (realtown.com) - Real Town was one of the first social networks exclusively for agents and their partners. While I wish there was a bit more disclosure regarding the Point2 / Real Town connection, this is a site that I do like otherwise. It is easy to navigate and there is a lot of great, easy to find, information available. Users: 137,000 +

Broker Agent Social (brokeragentsocial.com) - While smaller than the other social communities there is still valuable information to be had here. Try it out. The smaller community may fit your personality better. Users: 20,000 +

Wannanetwork (wannanetwork.com) - I would be remiss if I did not mention wannanetwork, however they have been besieged with technical problems due to the platform they were on. As of this writing they are working on a solution. It should be a great social networking option once they get every up and running once again.

Social Networking for Marketing

Social networking is also a great way to attract new customers, but let's be careful here. No one has ever gone on Facebook, Twitter or Myspace and created a reproducible method of making money just for signing up. It simply doesn't happen. The problem is that it is the 'personalities' that make the money on these networks. That is, the people that have branded themselves for the purposes of making money on these networks. As such, I have been reminded many times by real estate SEO guru Tim O'Keefe, from Spiderjuice Technologies, "You can't reproduce personality." What they have done, you may not be able to easily reproduce simply due to the fact that you are not them.

Find a social networking medium that works best for you and use it often. For marketing you are more likely to use social networks external to the real estate market than sites such as Real Town or Active Rain. The reason for this is as simple as marketing itself. Where is your audience? They are far more likely to exist on Facebook than on Real Town. If you are new to social networking here is a quick overview of the big three to help you find the best fit for you.

Facebook just recently overtook Myspace as the number one social networking site. To put this in perspective look at Alexa's rankings for the top 100 sites in the United States:

 

1. Google

    

2. Yahoo

    

3. Facebook

    

4. YouTube (social media networking)

    

5. Myspace

The power of Facebook is quite apparent. You will pay a fee to list your services in the Yahoo directory, but all you need is time and tenacity to have a distinguishable Facebook presence. The disadvantage of Facebook for marketing is that it is such a closed community. You are really only viewed by the people that add you as friends. Best marketing use: Pay per click ads on Facebook can be extremely cheap. Often you can easily achieve over 100,000 impressions for less than $100 per month in a very selective market.

Myspace - Myspace is the closest to what you think of as a traditional website. The big difference is the interaction between users such as chat functions and the ability to leave messages on each other's walls. Myspace was the king of social networking until Facebook appeared on the scene. Best marketing use: Youth - Myspace has a much younger demographic that may be better for rentals, etc.

Twitter - Twitter is simply a medium wherein you post a short message (140 characters or less) and everyone that 'follows' you gets your message - either on your Twitter page or on your phone depending upon your settings. You can also follow other's tweets. You may recall the use of Twitter by Iranian nationals showing the aftermath of their recent election.

Twitter was not on our list of the top five web sites in the US. It is actually ranked 13th, but you have to take into consideration the fact that there are many people that use Twitter only via their cell phone or smart phone so the numbers here may be slightly skewed away from Twitter in terms of overall use. Best marketing use: Very SEO friendly. Tweet key phrases loudly and often.

Social Networking Success

There is more to social networking than business. I recently reunited with a group of friends from third grade on Facebook and regularly see posts from cousins, aunts and uncles that I would never hear from normally. I spoke with an old friend on a business matter a few weeks ago and we picked up our conversation like we had in fact seen each other in the six year gap apart, simply because we followed each other's activity on Facebook.

At first appearance social networking looks like a young man's game and maybe a little scary to break into, but the single highest demographic entering Facebook for the first time is currently women in their 40's and 50's. Until recently my oldest friend on Facebook was 93 years old - until he passed away this spring. You are never too old or inexperienced to jump into the world of social networking! It's good for your business and it's good for your relationships.

Next Article: The Core of Your Electronic Marketing Strategy - The Website

About the Author: Brandon Smith is a marketing expert in the real estate industry and college instructor. He can be reached at agentexcel.com.

Related Articles:

Paul Stillwaggon, For All Your Real Estate Needs Contact New Jersey Estates Real Estate Group E-mail: njestates@gmail.com Web: http://www.newjerseyestates.net 908-561-5492 (Paul S) 908-310-1358 (Cell)

New Jersey Estates Weichert Realtors 908-561-5492 55 Stirling Road, Watchung, N.J. 07069

Equal Housing Opportunity

Financing the purchase of a home could be the most complex financial decision you'll every endure. You need all the help you can get. To help get you started with the basics, the Federal Reserve offers "5 Tips for Shopping for a Mortgage," because, well, the fundamentals always apply.

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

Don't bite off more than you can chew. Check your budget. You must have a budget so you can estimate what you can afford to pay for a home, including the mortgage, property taxes, insurance, and monthly maintenance and utilities.

You also have to have enough to save for emergencies. Plan ahead to have enough to afford your monthly mortgage payments for several years. Check your credit report to make sure that the information in it is accurate. A higher credit score may help you get a lower interest rate on your mortgage.

Shop around. Online and off, shop lenders, brokers, credit unions, government (city, county state) programs, even seller financing. Shopping around is a bear, but it can save you thousands of dollars.

Understand costs. Shopping around means scrutinizing loan costs and fees not just the annual percentage rate (APR) On any given day, lenders and brokers may offer different interest rates and fees to different consumers for the same loan, even when those consumers have the same loan qualifications. Keep in mind that lenders and brokers also consider the profit they receive if you agree to the terms of a loan with higher fees, higher points, or a higher interest rate.

Learn risks, benefits of loan options. Mortgages have many features -- fixed interest rates, adjustable rates, payment adjustments, interest-only payments, prepayment penalties, balloon payments and more. Consider all the features, including the APR and the settlement costs.

Have your lender calculate how much your monthly payments could be a year from now, and 5 or 10 years from now. A mortgage shopping worksheet can help you identify the features of different loans. Mortgage calculators can help you compare payments and the equity you could build with different mortgage loans.

Get advice from those you trust. Ask family, friends, co-workers, professional associates and others you trust for referrals. Talk with a trusted housing counselor or a real estate attorney that you hire to review your documents before you sign them. You can find a list of counseling resources at NeighborWorks and on the U.S. Department of Housing and Urban Development's (HUD) website or by calling (800) 569-4287.

For more mortgage shopping details, see: "Looking For The Best Mortgage."


Written by Broderick Perkins
September 17, 2009 

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With some clever marketing and the willingness to make a friend first and a sale later, becoming a business partner for your local schools could very well make you the go-to agent for legions of people, all while supporting a worthy cause.

	New Jersey Estates/ Real Estate Group Paul Stillwaggon September 2009 LINKING THE LATEST TECHNOLOGY TO OLD FASHIONED SERVICE Copyright © 2009 Realty Times All Rights Reserved.

An estimated 20+ million students return to schools across the country around this time each year, along with their parents, teachers and dedicated faculty members. As a former PTA president and PTSA board member, I can tell you first hand how effective and mutually beneficial it is to develop relationships with the people at these noble institutions.

When it comes to a hot button for passionate topics, few rival the subject of our nation's children. Educators, front office staff and sports coaches all will gladly welcome your help in creating the best possible learning environment for their students.

With some clever marketing and the willingness to make a friend first and a sale later, becoming a business partner for your local schools could very well make you the go-to agent for legions of people, all while supporting a worthy cause.

Here are some ideas to get you started:

1. Make a contact list for area schools. Most can be found on county websites and will include the principal's name, address and phone numbers.

2. Call each school to get the name and contact information for the PTA or PTSA President (or Vice President of Ways and Means) so that you can inquire about their business partnership programs.

3. Learn what necessary forms need to be filled out to comply with county/state/school regulations and take the necessary steps to comply.

4. Dive in, and get involved. For many schools, a fresh face and savvy business acumen are a refreshing addition to their volunteer list.

5. Be proactive. Offer to sponsor a teacher breakfast, rally local businesses to donate school supplies, books or equipment to the media center, or become a Junior Achievement volunteer.

6. Team up! Do you have a mortgage broker, title rep, attorney or CPA that you normally refer clients to? Ask them to join in and increase your exposure as the team to turn to.

7. Advertise in the school's agenda book or monthly newsletter. The revenue helps purchase needed items and you get valuable exposure.

8. Participate in the Great American Teach-In. This annual event is brings business professionals, parents and local leaders together to be "teachers for a day" at local schools.

With school enrollments climbing every year, the need for outside support grows exponentially. Becoming a resource for one school very often means becoming networked with anywhere from one to six surrounding communities, depending on boundaries. That translates into an opportunity to connect with literally hundreds of prospects. Add this long list of connections to your BusinessBASE or contact-management system, and you'll be surprised at how quickly your sphere of influence grows.

What can you offer that's different? Do you have a unique talent, skill, resource or perspective that you're willing to share? Maybe you have access to a printing company that can help outsource newsletters. Do you have organization skills that would help streamline a book drive or membership rally? Fall or winter carnivals or spring dances can almost always use an extra set of hands.

Perhaps you have a soft spot for helping kids in need and would like to work with the guidance department to sponsor or mentor a troubled child?

The opportunities for involvement are as limitless as the rewards you'll reap when you commit to a specialized market such as this. You're filling a need and developing valuable relationships that will last long after this year's students are grown.

Need even more ideas? Download Julie's FREE REPORT: 10 Ways to Prospect to and Support Your Local PTAs! A SMART Niche Marketing Choice for REALTORS®. This handy report is packed with tips for building successful relationships with your local schools and helpful insights into ways you can contribute to our nation's educators. Visit ProspectsPLUS! and click on our Resources section, then click on FREE REPORTS!


Written by Julie Escobar
September 10, 2009 

New Jersey Estates
Real Estate Groups Web Site
www.NewJerseyEstates.Net
Unique Visitors

August 2009 14,460 Visitors
July 2009 18,268 Visitors
June 2009 16,365 Visitors -- Contact Us

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