Gerald A. \”JERRY\” Sarkisian\’s Blog

Don’t blame the market.

1. Homes are selling and more than once I’ve had buyers competing for a home and sellers with multiple offers.

2. Don’t blame the realtor either. You chose that person. If you didn’t investigate your choice of realtor, who’s fault it that?

3. Did you look at the agent’s marketing Online where the Buyers are today? Did you look at their photography of other homes? Today you can have up to 25 Photos in the local MLS and in the Number 1 Real Estate Website…. Realtor.com. Why, because the Buyer Demand is for pictures and Virtual Tours too. I see listings w/ few to none often. Or photos that are so bad, you wonder what the agent was thinking. Either way, Online w/ Pictures is Your Main Chance to Capture or Lose that Buyer.

4.   Did you get a Written Marketing Plan from your agent? Was the plan followed or not and if not, why? Maybe you didn’t cooperate, maybe you did. Did you review the marketing even?

5. Did you price your home realistic to todays market or based on unrealistic needs and wants.   I want a million bucks and to retire now. So does everybody else. You want some fool to pay double or more than value because you just want more money than the market bears! Fat chance in you know where.

6. Did you Ask the Agent’s Success Ratio of Listings Sold? Isn’t this a Huge and Important point that is always overlooked. Johnny Agent sells alot. I see his name everywhere, I get mailings from him. Gee that makes him good. Good for who. You or Johnny Agent?   Over half of Johnny’s listings Never Sold. Tough luck for you the seller.

YET You are thinking about ReListing again with the same person who didn’t do anything? Why? You cannot afford to do this. A home that’s on the market too long historically Gets LESS THAN MARKET VALUE! Is that what You want.   Don’t make the same mistakes twice.   Your biggest Investment is at risk! Don’t be cavalier with chosing an agent because they are a friend, you’ve seen their name or are bad reasons, none of which Qualify them to sell your home.

Good Luck

The media should be shot. They Killed Princess Di, they are killing our economy too. Why? Because WE feed on DOOM. It pays. What ever happened to real facts?  

Yesteday the News was reporting the Latest from Case Shiller that housing sales and values are plummeting and foreclosures high.   This is, again I repeat, a Twisted Statistic.   Yes, on an Average, the stats are getting lower. BUT what is not being reported is that in actuality, the prices and foreclosures are truly terrible in a few key locations: Florida, California, Nevada and Arizona.   NOT HERE!  

Here is a graph from Case Shiller the same leading real estate analyst. This Report is for Our Local Area: note it says Camden but that includes if you look below Burlington, Camden and Gloucester Counties.   We are down from the Peak about 18% but Way over the Values in 2000.   Some of the headlines sensationalized the Last Decade of Values Lost. We have dropped in the last 5-6 years but overall are doing tremendous.

So often I look at a listing and think “Shame on the Seller”. The MLS or Listing Data is so pathetically wrong. If you don’t proof what is there, shame on you when your home sits for 6 months, a year and or more.

For example, a Buyer Search might ask for a Lakefront. You’d be shocked at how often there are lakefront homes on the market and that Value Packed Feature is missing. Or Summer is just about here and your home pictures feature “Autume Foilage”.   The buyer loves this. They see how long the listing has been on the market and how little anybody cares. Let’s add no room measurements, little to no data, horrible pictures if any at all and so many more details.

A smart seller will actually look at their agent’s online marketing for these details in their other listings and online web presence. If you don’t see any, beware.

Too many won’t bother to do much for you the seller after they get your signature and you “Assume” they are doing what they should. I won’t spell it out but we all know what happens when you “Assume”.

Don’t get caught there. Do your homework. Check out your realtor candidate for details, web presence, pictures and more. Remember the Buyer’s either First Find your home like the Lakefront that is listed as a Lakefront for their search or You are DONE!

If you read, watched or heard the Latest Real Estate Housing News, you are now expecting the bottom to drop out again. The premise is and has been “The Media” needs to sell with catchy scary and or shocking news.   Often as is the case now, the story is a very distorted perception.

We in the New Jersey and PA Market are not part of this Doom and Gloom. In fact our Market has picked up considerably since the beginning of 2011.   The statistics are based on Foreclosures which are greatest in Nevada, California and Florida. The dramatic numbers are Averages including the worst.   NJ is far from falling.  

Yes prices are down since 2005. However, they’ve been fairly stable this year. Multiple Bidding is happening again. Sales have increased in my office’s local market by our sales per month with less new listings.  

It’s a great time to Buy with lower prices and LOW Mortgage Money Rates.   Yes you can get a mortgage too.   There is a push by the government to require 20-30% Down. That is Not Now. There are still 3.5% Down FHA Loans for Qualified Buyers and 100% Financing to Qualified Military.   IF you run into somebody complaining that they cannot get a  loan, it’s likely they aren’t telling you the whole picture. The Buyers that Bought just before 2005 where HUGELY Overextending themselves and the Lenders where letting them. Some even Borrowed Over 100% so they wouldn’t have to pay Closing Costs out of pocket either. Fools.   Now the loans are fewer only because we have gotten back to basics. There is some overkill, but not that much.

So get out there and stop waiting. The only part of the News that I agree with is that it’s likely to be 5-10 years to see significant appreciation. It was expected that we would see 2-3% Appreciation this year.   I felt that was too optimistic. Stable is the key right now.   A More Realistic expectation and Normal Rate of Appreciation is .5 – 1% Per Year. Buyer’s never expected to sell their homes within the first few years or a little more without coming up with Closing Costs. The Exception would be the Buyer who put a large Downpayment at the initial purchase.   It was only in the “Inflated early 2000′s that many took huge risks against traditional standards and Lost. If you plan to move in just a few years, no, it isn’t smart to buy unless you expect to bring money to the table. That was the norm and still is.

It’s Still an Opportune time to Buy with the tremendously low rates. The loans are just back to basics requiring good credit and reasonable loan to income ratios. No more faking it with No Doc loans where you stated any income you wanted to qualify for a No verification loan.   Come on. Would you give a loan without verifying income, assets, credit and more.

So Do It. Buy, Sell and or both!

I™ve just sold a Resale – single family property at 12 Breckenridge Drive in Berlin. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Single-family property at 84 Walnut Street in Mount Holly. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Resale Single Family Townhome property at 111 Poplar Court in Lumberton. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Resale Single Family Townhome property at 35 William Penn Circle in Medford. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Resale – single family property at 66 N Main Street in Medford. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I™ve just sold a Single-family property at 2 Doral Court in Marlton. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.