November Market Update Seminar

Weichert, Princeton Office November Market Update

Seminar

Offers analysis of the Princeton & Greater

Princeton, NJ real estate markets & effective

strategies to buy and sell.

http://upload.wikimedia.org/wikipedia/en/b/b7/Census_Bureau_map_of_Princeton_Township,_New_Jersey.gif

Presented by:

Joshua D Wilton

Broker/ Sales Rep.

Weichert Realtors

Princeton, NJ

O 609-921-1900

www.facebook.com/weichertprinceton

Presented by:

The presentation will be posted on the

following site immediately after today’s

session to the following site.

Will be available for downloads thru Monday.

www.facebook.com/weichertprinceton

http://www.facebook.com/weichertprinceton

Agenda

1. The Market

2. Strategies for Buying

3. Strategies for Selling

Agenda

1. The Market:

- The National Economy a

Year Ago…

Source: www.imf.org

Source: www.imf.org

Source: www.imf.org

‘TARP…BAILOUTS…

CREDIT CRUCH…“TBTF”

RECESSIONISTA…CREDIT DEFAULT SWAP’

Source: Autodata

We learned a new vocabulary…

Source: yahoo finance

5 Year Picture of the DOW…

‘Congrats! You Just Lived Through the Worst Stock

Market Drop Since the Depression’-about.com

Source: Autodata

We Survived…

WSJ estimates over $8.4 trillion lost in the stock market crash.

Source: wsj

From the end of 2006 through March 31, it says, the total market value of U.S. household real estate

fell from $21.9 trillion to $17.9 trillion. That's about 18%. (The lost

wealth works out at just over $13,000 for every person in the

country.)Source: wsj

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LASST34000003

The consequences…

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LASST34000003

The consequences…

What about the Real Estate Markets….?

A real estate market correction was taking shape the summer

of 2001…Inventory was growing…Rates were edging up…

Contracts were slowing…

Unsold Inventory from the MLS in Weichert Market Areas10/20/2003 thru 9/14/2009

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ASHBY TOTAL DOEPPER TOTAL BIXON TOTAL MCDONALD TOTAL PREVETE TOTAL WATERS TOTAL WILLIAMS TOTAL

9/13/0432,893

9/12/0538,513

9/11/0683,739

9/17/07*91,009

9/15/0891,267

*added Waters & Williams Region to Totals

9/14/0983,431

Listings from the MLS in Weichert Market AreasListings from the MLS in Weichert Market Areas

In our local area (CT/NY/NJ Lehigh Valley, PA), the number of homes for sale (Weichert and non-Weichert listings) has steadily increased over the past four years.

Variance % 2009 from 2008NY (Ashby) -9.26%CT (Doepper) +1.44%Passaic/Hudson/Bergen NJ (Bixon) +.32%Western Central NJ/Lehigh Valley PA (McDonald) +.32%Northern and Central NJ (Prevete) +.28%Eastern Central/Shore Points NJ (Waters) +.08%Southern NJ (Williams) -.03%

123 Any street, Princeton, NJ

• First Time home buyers were priced out of the market

• Financing was too available (ie ‘subprime’)

• Banks made bad bets (ie that home prices would continue to

rise)Lehman, Merril, over 300+ fail• Credit freeze, affects ‘main street’

business…

A long term outlook in Mercer County…

Source: NAR, November 2008 Forecast

Long Term Supply …


Richardson Commercial

Long Term Demand in Mercer County …

Source: NAR, November 2008 ForecastSource: https://edis.commerce.state.nc.us/docs/countyProfile/NJ/34021.pdf

(Mercer County) Population & Growth Population Annual Growth Rate2013 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 ForecastSource: https://edis.commerce.state.nc.us/docs/countyProfile/NJ/34021.pdf

Estimated Pop. by Age Pop by Age, % Est.2013 Median Age 392008 Median Age 382000 Median Age 362008 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%

Fast Forward to today…Have we hit the bottom of the market yet…?!?!?!?


Where is the bottom of the market?“The effects (of foreclosures) are continued declining

prices….probably another 5-8%* to the bottom. As for the effect of foreclosure pricing, all of these problems are

causing home prices to go lower than is necessary from an affordability perspective.

That’s because everyone is now worrying about job security.

As a result, the recovery will take place at a faster pace once it gets started.”

– Jeff Otteau (otteau.com- January 2009)

““Everything I am Everything I am seeing tells me we seeing tells me we have arrived at the have arrived at the

bottom of the market, bottom of the market, specifically in the specifically in the

popular and popular and affordable price affordable price

ranges.”ranges.”J. Weichert

6/2009

‘Real Estate is a Bottom up market…’

Weichert, Realtors Weichert, Realtors 2009 Revenue Units % Increase/Decrease by Month2009 Revenue Units % Increase/Decrease by Month

Source: otteau.com

65.4%65.4%Increase in SalesIncrease in Sales$350,000 & Under$350,000 & Under

Recovery Has BegunRecovery Has Begun

September YTD reported internal revenue units

Sales by Price RangeSales by Price Range

Pending Home Sales Up 7 Months in a Row

2001 = 100

Source: NAR

Housing Recovery is Under Way

First-time home buyers purchased 30% of homes in

August.

*NAR Practitioner Survey August 2009

Months Supply of Lower Priced Single Family Homes Falling

Price Category August 2008 August 2009

$99,999 or less 6.8 4.3

$100,000 to 249,999 7.8 4.9

$250,000 to $499,999 10.2 6.4

$500,000 to $749,999 14.0 10.0

$750,000 to $999,999 16.5 10.5

$1,000,000 to $1,999,999 19.8 15.2

$2,000,000 or greater 32.0 31.7

All Single-family 10.0 8.2

Source: NAR (Unpublished data)

Despite this…

*NAR Practitioner Survey August 2009

Source: otteau.com

The Local Inventory Trends.

Economics 101:As supply goes up, prices

go ___.


Princeton Boro Inventory Trends: 3 Year Snapshot

Princeton Twp Inventory Trends: 3 Year Snapshot

Lawrence Inventory Trends: 4 year View

Hopewell Inventory Trends: 4 year View

Ewing Inventory Trends: 4 year View

West Windsor Inventory Trends: 4 Year View

Plainsboro Inventory Trends: 4 year View

YTD Closed Homes Snapshot:2007 2008 2009

Princeton Boro

79 71 53

Princeton Twp.

193 155 140

West Windsor

338 279 273

Lawrence 357 266 265

Hopewell 205 179 131

Plainsboro 248 197 209

Plainsboro Inventory Trends: 4 year View

1. Real Estate is Local

Top Five Rules for Understanding the Real

Estate Market:



4. Real Estate is Local5. Real Estate is Local

1. Understand the Local Market That You are Buying into…

Market Absorption Scale(Absorption Rate in Months)

5-6 months absorption rate indicates a normal market.

111/21/09Towns Active

ListingsPending 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 33 7 4.7 5 -2 5 15.2% 2 2 3

Pton -Boro Condo/ Thouses 8 2 4 2 0 1 12.5% 0 1 2

Pton-Boro

Single Family 25 5 5 3 -2 4 16% 2 1 1

Pton Twp: All Styles 107 7 15.3 13 6 18 16.8% 5 8 13

Pton Twp: Condo/ Thouses 21 2 10.5 3 1 6 28.6% 2 0 1

Pton Twp:

Single Family 86 5 17.2 10 5 12 14% 3 8 12

Town by Town Analysis 11/21/09Towns Active







Expired Listings

W/drawn Listings

Closed Listings

West Windsor:

All Styles88 19 4.6 26 25 28% 6 4 31 88

West Windsor Condo/ T.Houses

13 5 2.6 7 3 23% 2 0 13 13

West Windsor

55+13 - - 1 - - - - - 13

West Windsor

Single Family

75 14 5.4 18 22 29% 4 4 18 75

Lawrence: All Styles

204 27 7.5 58 21 38 19% 13 10 26

Lawrence:

Condo/

THouses

94 9 10.4 24 15 18 19% 8 6 10

Lawrence:

55+25 0 99 - - - - - - -

Lawrence:

Single Family

85 18 4.7 34 16 20 23% 5 4 16








Expired Listings

W/drawn Listings

Closed Listings

Ewing:

All Styles246 27 9.1 58 31 59 23% 25 11 26

Ewing : Condo/ T.Houses

45 7 6.4 16 9 8 18% 8 2 8

Ewing 55+: 4 0 99 - - - - - - -Ewing:

Single Family

197 20 9.8 42 22 51 26% 17 9 18

East Windsor:

All Styles

172 34 5.0 38 4 25 14% 17 6 32

East Windsor:

Condo/ THouses

99 19 5.2 25 6 15 15% 11 1 15

East Windsor:

55+

18 0 99 - - - - - - -

East Windsor: Single Family

55 15 3.6 13 (2) 10 18% 6 5 17

Market Activity: Town by Town Analysis 11/21/09Towns Active







Expired Listings

W/drawn Listings

Closed Listings

Robbinsville

All Styles 90 12 8 19 7 20 22% 12 8 17Robbinsville

Condo/ T.Houses 46 6 8 11 5 11 24% 6 5 9Robbinsville

55+ - - - - - - - - - -

-44 6 7 8 2 9 20% 6 3 8

Hightstown Boro: All Styles 51 5 10 8 3 11 22% 4 1 7

Pennington24 1 24 2 1 8 33% 3 0 1

Hopewell Boro:

All Styles 6 3 2 1 (2) 0 0 1 0 1




=Ag





e

Expired Listings

W/drawn Listings

Closed Listings

Hopewell Twp.

All Styles 147 20 7 22 2 27 18% 10 5 11Hopewell Twp. Condo/ T.Houses 12 2 6 3 1 2 17% 2 2 3Hopewell Twp.:

55+ 2 1 2 - - - - - - -

Hopewell Twp. Single Family 133 17 8 19 2 25 19% 8 3 8

Hamilton: All Styles 506 62 8 95 33 123 24% 53 20 91Hamilton:

Condo/ THouses 101 20 5 27 7 33 33% 14 5 23

Hamilton:

Single Family 364 38 10 68 30 90 25% 39 15 68

Hamilton: 55+41 4 10 - - - - - - -

-








Expired Listings

W/drawn Listings

Closed Listings

PlainsboroAll Styles

65 7 9.2 17 10 8 12% 10 0 20

Plainsboro

Condo/ THouses

34 5 6.8 8 3 5 14% 6 0 13

Plainsboro

55+12 0 12 2 2 1 8% 1 0 1

Plainsboro

Single Family

19 2 9.5 7 5 2 10% 3 0 6

Cranbury:

All Styles33 0 99 5 5 4 12% 3 0 2

Cranbury:

55+5 0 99 0 0 0 0 0 0 0

Cranbury: Single Family

28 0 99 5 5 4 18% 3 0 2

11/21/09Towns Active



g





Expired Listings

W/drawn Listings

Closed Listings

South

Brunswick

All Styles

169 13 13 37 24 23 14% 21 4 1

South BrunswickCondo/ T.Houses

36 8 4,5 13 5 8 22% 8 0 0

South Brunswick

55+

31 0 0 9 9 4 12% 2 0 0

South Brunswick

Single Family

102 5 20.5 15 10 11 11% 11 4 1

Monroe:

All Styles 428 30 28.8 79 49 65 15% 62 7 5Monroe:

55+ 268 24 12 54 30 44 16% 40 5 2

Monroe:

Single Family 160 6 26.5 25 19 21 13% 22 2 3








Expired Listings

W/drawn Listings

Closed Listings

South

Brunswick

All Styles

196 21 9 54 3 22 11% 21 18 36

South Brunswick

Condo/ T.Houses

61 10 6 27 17 8 13% 6 8 16

South Brunswick

55+

30 1 30 2 1 3 1% 2 3 3

South Brunswick

Single Family

105 11 9.5 25 14 11 10% 13 7 21

Monroe:

All Styles471 30 16 107 77 57 12% 62 4 57

Monroe:

55+302 27 13 70 43 36 12% 26 3 44

Monroe:

Single Family

168 13 13 37 24 21 13% 36 1 12

11/21/09

Towns Active Listings

Pending in Last 30 Days






Expired Listings

W/drawn Listings

Closed Listings

Montgom.102 19 5.4 14 -5 19 18.6% 5 12 30

Hillsboro249 36 6.9 42 6 44 17.7% 13 11 44

Rocky Hill3 0 99 0 0 0 0% 0 0 2

Franklin362 58 6.2 73 15 78 21.5% 32 21 77



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 RateSample Market Absorption Rate

107 current active listings

4 reported sales in last 30 days

=

24.3months absorptionrate

Anytown., NJ

5-6 Months Market Absorption Rate indicates a normal market.

61Market Scale for Supply & Market Scale for Supply & DemandDemand

High Supply/Low Demand Low Supply/High DemandNormal

Ma

rke

t A

bso

rpti

on

in M

on

ths 1

2

3

4

5

6

7

8

9

10

11

12

No

rma

l

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.

Princeton Borough Absorption Rate By Price

Towns Active Listings Pending in Last 30 Days


0-$500

9 2 4.5

$500-999k 12 1 12

$1 million - $2 million

12 0 99

$2- $5 million 10 1 10

Princeton Township Absorption Rate By Price



0-$500

6 3 2

$500-999k 53 2 26

$1 million - $2 million

34 2 17

$2- $4 million 22 0 99

$4 + 2 0 99

West Windsor Absorption Rate By Price



0-$500

51 11 4.6

$500-750k 29 6 4.8

$750-999 16 0 99

$999 + 8 1 8

Lawrence Absorption Rate By Price



0-$300

101 12 8.4

$300-500 54 8 6.7

$500-700 26 1 26

$700-999 6 0 999

999+ 13 0 99

Ewing Absorption Rate By Price



0-$150

36 8 4.5

$150-250 123 13 9.4

$250-450 72 9 8

450+ 4 0 99

Understand the Market That You are Buying/ Selling in…

I want to live/ sell in Princeton…..



West Windsor Absorption RateWest Windsor Absorption Rate



=



0-750k: All Styles0-750k: All Styles




=

26months absorptionrate


$750k – 1.0M$750k – 1.0MAll StylesAll Styles




=



1.0 – 1.6 M1.0 – 1.6 MAll StylesAll Styles




=

25months absorptionrate


1.6 – 2.5 M1.6 – 2.5 MAll StylesAll Styles




=

99+months absorptionrate


2.5 M+2.5 M+All StylesAll Styles

2. ‘I am going to time the Market and buy/ sell at the time when

inventory & buyer count is in my favor…’

Source: MLS

Source: MLS0

20

40

60

80

100

120

140

160

180

1/7/2007 4/1/2007 6/24/2007 9/23/2007 12/16/2007

Gross # of Guests 2007

Gross # ofGuests 2007

Weekly Guests Thru the Weichert Princeton Open Houses, 2007

Source: MLS

Inventory Levels, Princeton, New Jersey, 2007

0

50

100

150

200

250

1/8/07 3/5/07 4/30/07 6/24/07 8/20/07 10/16/07 12/11/07

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’

0

10

20

30

40

50

60

70

Princeton Pendings

Princeton Price Reductions

Town by Town Analysis 8/18/09








Expired Listings

W/drawn Listings

Closed Listings

South

Brunswick

All Styles

196 21 9 54 3 22 11% 21 18 36

South Brunswick

Condo/ T.Houses

61 10 6 27 17 8 13% 6 8 16

South Brunswick

55+

30 1 30 2 1 3 1% 2 3 3

South Brunswick

Single Family

105 11 9.5 25 14 11 10% 13 7 21

Source: trend mls


0

10

20

30

40

50

60

70

Princeton Pendings

Princeton Price Reductions

Source: trend mls


0

20

40

60

80

100

120

West Windsor Pendings

West Windsor Reductions

Source: trend mls


0

10

20

30

40

50

60

70

80

90

100

Lawrence Pendings

Lawrence Reductions

Seeing the Opportunity.Seeing the Opportunity.

Seeing the Opportunity.Seeing the Opportunity.

Q. If this were 2005, where would you place the Price and Rate dots?

Prices Rates

High

Mid-Range

Low

A. In 2005, the V would look somewhat like this one, where prices were on the high end of the scale and rates were in the lower range.

Seizing the Opportunity.Seizing the Opportunity.

In recent history, there has never been an opportunity like this, with low prices and low rates. In real estate, this circular area at the bottom of the V is called the “Buying Zone” – it’s an unbelievable time to buy.

Prices Rates

High

Mid-Range

Low

Jeff Smith,

Gold Services Manager/ Loan Officer

Financial Benefits and Financial Benefits and Process of Home-Process of Home-

Ownership.Ownership.

‘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 Value1st Year -3% $319,1302nd Year 0% $319,1303rd Year 1% $322,3214th Year 3% $331,9905th Year 5% $348,5905 Year Appreciation/Depreciation $19,500

Tax Benefit Vs Paying Rent @

$1600/mo1st Year $5,000 $19,2002nd Year $5,000 $19,2003rd Year $5,000 $19,2004th Year $5,000 $19,2005th Year $5,000 $19,2005 Year Total $25,000 $96,000

Total Gain $44,200Create Equity

v Pay Rent

+ The Amortization Schedule on a Loan

Yearly Schedule of Balances and PaymentsYear

Beginning Balance

Payment Principal InterestCumulative

PrincipalCumulative Interest

Ending Balance

2010 $315,646.96 $21,625.92 $4,374.96 $17,250.96 $6,128.00 $24,508.72$311,272.0

0

2011 $311,272.00 $21,625.92 $4,621.30 $17,004.62 $10,749.30 $41,513.34$306,650.7

0

2012 $306,650.70 $21,625.92 $4,881.98 $16,743.94 $15,631.28 $58,257.28$301,768.7

2

2013 $301,768.72 $21,625.92 $5,157.36 $16,468.56 $20,788.64 $74,725.84$296,611.3

6

2014 $296,611.36 $21,625.92 $5,448.28 $16,177.64 $26,236.92 $90,903.48$291,163.0

8

= Total 5 Year Gain: $59,922

A Great Time to Buy a A Great Time to Buy a HomeHome

First-time homebuyers can receive a tax credit up to $8,000!

NEW TAX CREDITCurrent homeowners may be eligible for a tax credit up to $6,500!

Tax Credit OverviewTax Credit Overview• In 2008, Congress created a tax credit for first-time

homebuyers.

• The tax credit was extremely successful in generating home sales and stimulating the overall economy.

• Realizing the importance of homeownership for individuals and the greater economy, the government enhanced and extended the homebuyer tax credit.

• On Nov. 6, President Obama signed a bill that extended the existing tax credit for first-time buyers and created a new provision for eligible move-up buyers.

The The NEWNEW First-Time Buyer Tax First-Time Buyer Tax CreditCreditAmount 10 percent of the cost of the home, not to exceed $8,000

PropertyAny home that will be used as a principal residence including single-family homes, condos, townhomes and co-ops; not to exceed $800,000

Refundable

Reduces income tax liability for the year of purchase

Income Limit

Adjusted gross income of $125,000 for single or $225,000 for joint tax returns INCREASED (Effective Nov. 7, 2009)!

First-Time Must not have owned a principal residence in three years prior to purchase

Limitation If home is sold within three years of purchase, entire amount of credit is recaptured

Effective Date

Purchases with closing/settlement between Nov. 7, 2009, and June 30, 2010 EXTENDED!

DeadlineWritten binding contract on or before April 30, 2010, with closing/settlement by June 30, 2010 EXTENDED!

The The NEWNEW Current Homeowner Current Homeowner Tax CreditTax Credit

Amount Up to $6,500

Eligibility Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years

Purchased Home

Any home that will be used as a principal residence including single-family homes, condos, townhomes and co-ops; not to exceed $800,000

Refundable

Reduces income tax liability for the year of purchase

Income Limit

Adjusted gross income of $125,000 for single or $225,000 for joint tax returns

Recapture If home is sold within three years of purchase, entire amount of credit is recaptured

Effective Date

Purchases with closing/settlement between Nov. 7, 2009, and June 30, 2010

Deadline Written binding contract on or before April 30, 2010, with closing/settlement by June 30, 2010

Tax Credit FAQsTax Credit FAQs

What Are the Deadlines What Are the Deadlines for Claiming the Credit?for Claiming the Credit?

• A written binding contract to purchase must be in effect no later than April 30, 2010.

• The purchase transaction must close byJune 30, 2010.

What if You ExceedWhat if You Exceedthe Income Limits?the Income Limits?

• Individuals with adjusted gross income of up to $125,000 and married couples with income up to $225,000 can claim the full credit.

• The amount of the tax credit decreases as incomes reach the maximum limits of $145,000 for singles and $245,000 for couples.

• Singles earning more than $145,000 and couples earning more than $245,000 are not eligible for the credit.

What Properties are What Properties are Eligible?Eligible?

• To claim the tax credit, the property must be used as a principal residence. This is generally considered to be the home where you spend 50 percent or more of your time. It can be a condo, single-family detached home, co-op, townhouse or something similar.

• The home must be located in the United States.

• Vacation homes and rental properties are not eligible.

• For new construction, the purchase date is the date you occupy the home. As a result, you must move in by June 30, 2010, to claim the credit.

When Can You Claim the When Can You Claim the Credit?Credit?

• Buyers purchasing homes on or before Dec. 31, 2009, may claim the credit on their 2009 tax returns.

• Buyers purchasing in 2010 will have the option to:

– Claim the credit on their 2009 return, even if the purchase is completed after Dec. 31, 2009;

– File an amended return for 2009 if their purchase is completed after April 15, 2010; or,

– Claim the credit on their 2010 tax returns.

Any Other Any Other Questions?Questions?

How much house can I really afford?

• The first step is to meet with me!

Establish Establish YourYour Buying Buying PowerPower

Factors to consider Factors to consider when buying and when buying and

selling…selling…

Source: MLS

1. Inventory(supply and 1. Inventory(supply and demand)demand)

2. Interest Rates2. Interest Rates

Interest Rates Remain Interest Rates Remain LowLowAverage Annual Rate (30-year fixed rate mortgage)

5%

7%

9%

11%

13%

15%

17%

19%

1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007

Year

Percent

Source: Freddie Mac

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

Does this really work?

We know the best way to evaluate pricing

Does this really work?

22. . The Effect of The Effect of StagingStaging on the on the

Value of a HomeValue 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.

The Way You Live In Your Home…

… And The Way We Market And Sell A House Are Two Different

Things.

“The Investment in Home Staging

is Always Less than Your First Price Reduction!”

Buyers Only Know What They See …

… Not The Way It Is Going To Be.

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.

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.

3.3.The Effect of ‘The Effect of ‘Pre-Pre-Inspection’Inspection’ on the Sale of on the Sale of

YourYour Home. Home.

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 2008: 10.2%.

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 Making Your Purchase as Smooth as PossibleSmooth 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.

• Time is money.

The Weichert The Weichert DifferenceDifference

• Stress kills.

• Time is life.

Educate You.

Negotiate on your behalf.

Offer advice on due diligence.

Manage all aspects of the transaction

process.

What Will a Weichert Agent Do for Me?

We’re Here to HelpWe’re Here to Help

The Entire Process is reviewed by Legal Council.

Become a Fan!

www.facbook.com/weichertprinceton

www.slideshare.net/jdwilton

Presentation available at all 3 sites, download file through Monday.

http://www.facbook.com/weichertprinceton

http://www.slideshare.net/jdwilton

Resource and website list:

Realtor.org

http://www.facebook.com/pages/

NAR-Research/73888294183#

Remodeling.com

http://www.facebook.com/pages/

Resource and Website Resource and Website ListList

http://www.realtor.org/research/research/housinginx Remodeling.com

www.Otteau.com

www.Pre-listing-inspection.com

http://www.realtor.org/research/research/housinginx%20Remodeling.com

http://www.realtor.org/research/research/housinginx%20Remodeling.com

http://www.otteau.com/

http://www.pre-listing-inspection.com/

Resource and Website Resource and Website List:List:

www.Housemaster.com

www.Stagingshoppingcenter.com

http://www.housemaster.com/

http://www.stagingshoppingcenter.com/

Resource and website Resource and website list:list:

www.Stagedhomes.com

www.realestatestagingassociation.com

www.foreclosurepoint.com

www.realtytrac.com

http://www.stagedhomes.com/

http://www.realestatestagingassociation.com/

http://www.foreclosurepoint.com/

http://www.realtytrac.com/

Happy Thanksgiving!Happy Thanksgiving!