Happy New Year Atlantic County NJ – What Happened?

Well, Alot happened. The economic downturn is still downturning. 14 million Americans are still out of work. Foreclosures are still piling up. We lost some fabulous people- some famous and some not so famous - Heavy D, Vesta Williams, Steve Jobs, Joe Frazier, Nick Ashford and Rev. Fred L. Shuttlesworth. Some of the media is saying that we may be going into a double dip recession.

I was watching Deep Impact last night with Morgan Freeman and Tea Leoni. Tea Leoni plays a rookie reporter looking for her “big break” on a gushy story. Well, she thinks she’s onto something when she speaks with one of the secretary’s who was let go from a former senator and believes that the Senator played by Jim Cromwell I believe is having an affair with a woman named Elle. Well, of course, come to find out Elle is actually E.L.E. – The end of the world with a big bang from an asteroid that will cause an Extinction Level Event – the end of the world. Of course, the government has been planning for the worse case scenario so they prepare for starting over again by building an underground facility to hold 1 million people – 200,000 scientists and medical people and only 800,000 who will be chosen by the computer as long as you’re not over 50. Anyway, I remember Morgan Freeman’s character saying that “the water will recede and we will go on” which meant that many won’t make it but there will be people left to move forward and forge ahead and create a new world.

This brings us to the end of 2011. We lost some great minds of science, some great musicians and regular citizens who all brought grace, elegance, love and fabulousness to those they knew personally and professionally. If we got a chance to get a piece of what they had to offer, we’re all the better for that. As we head into 2012, it is time to renew, re-create, re-generate and move forward never forgetting those who left us before and taking what they gave us with them.

WE WILL GO ON….Foreclosures will recede, 14 million Americans will get back to work,  we’ll never forget  those we lost and if a double dip recession does hit, we will deal with as we always have and get through. We will either elect a new President or re-elect President Obama…WE WILL GO ON.

Hope is Alive….H.A.R.P. is revised. Although it is limited to Freddie Mac and Fannie backed loans it is dropping the requirement that homes being refinanced have a new appraisal done. In September 2011, new home construction in the U.S. increased 15 percent compared to August according to the Commerce Department. U.S. home sales have decreased after a surge in August but I don’t believe that the dream of homeownership is completely dead.  I believe it has changed. How buyers have to buy will probably change meaning they will need a bigger downpayment. However, this should be looked upon as good news because better preparation overall for homeownership can only be good for everyone – the home buyer, the home seller and the economy overall.

In 10 hours Eastern time it will be January 1, 2012 – A New Year with new challenges and new dreams to conquer. We can do it. I believe we can. I believe we have everything in us that we need to succeed.

If I can offer my assistance in anyway to help you get the home of your dreams, sell the home you have now and move on to other adventures, Invest or if you just have questions please allow me the opportunity to earn your trust and be of service. Please leave a comment below asking your question and we can build a great relationship.

Have a Happy and Safe New Year Everyone – Be Blissful - Be Thankful

Atlantic County NJ – Don’t Forget about Those Less Fortunate

I recently assisted at the Triple Play Realtor Convention & Trade Expo in Atlantic City. I assisted the last day, Thursday, December 8. There was a table for Atlantic City Rescue Mission where you could bring whatever foods or personal items that those at the mission could use to make their lives a little easier.  The table wasn’t that full when I left but maybe more was added after I did leave. This makes me think that we all hustle and bustle to get through our day and worry about paying our bills, etc. etc. etc. but there is someone – usually a whole family that is less fortunate and could use your help. I did put my little bag together of some personal items and foods and brought it with me to add to what was already there. I don’t believe in asking anyone to do something that I am not willing to do myself and neither should you.

I’m thinking going into 2012 wouldn’t it be nice to at least attempt to help the resuce mission every month and make it habit as much as you can. Even if you do six months that will be more than you may have done in the past. Of course, if you are already giving your time and money and have made this a part of your legacy and who you are then I’m not talking to you. I’m just catching up.

I believe it is a good idea as we come to the close of 2011 and move forward into 2012 that we all take a moment to think of others and not only ourselves. My mother used to always say to me, “I cried because I had no shoes until I saw the man who had no feet”.

Remember, there is always someone doing worse than you or better than you so be grateful for what you have or don’t have and don’t forget others as we move forward to 2012 and remember to try to make someone else’s day special. We can all start to do that with a simple smile. I believe Kirk Franklin’s got me covered on that one with “I Smile”. www.youtube.com/watch?v=Z8SPwT3nQZ8

If you live in one of the 21 counties of Atlantic County, check with a food pantry or shelter near you to see how you can help.

If you live in Atlantic City and want to help you know they are near the Convention Center or call 609-345-5517 or check the website www.acrescuemission.org. The website has a updated monthly list of items that the rescue mission can use to help those in need.

Everyone Have a Happy New Year and Be Safe Be Loved !

Atlantic County NJ Happy Holidays!

As we move closer to the end of 2011 and enter 2012, this is a great time to reflect on what your life looks like now and what you may want your life to look like for the next 12 months. Do you want to lose weight? Don’t we all? Well, then get to it. Do you want to make more money? Don’t we all? Well, then get to it. Do you want to have a better life than the life you have now? Don’t we all? Well, you know what I’m going to say – Well, get to it. You get the general idea.

I was in the supermarket the other day — well actually Sam’s which is much more than a regular supermarket for the first time myself to shop with a friend because that’s where they shop and since I never shopped there before, I thought I was missing out on something so I wanted to go. When we arrived, I was overwhelmed by the experience. It took me a minute to get a grip and realize that I had to go bigger for everything in there that I wanted. Then I watched everyone else strategically shopping and moving through the store with such precision and I thought to myself, WOW – if we all were to undertake the same strategic precision with planning our lives that we undertake in shopping for our groceries, we would all have a much bigger life in all aspects – mentally, physically, spiritually, financially, etc. because it would all be moved toward in a strategic manner already thought out and planned so there would be little room for error.

If you fail to plan then you plan to fail. I don’t know who the author is right off hand of these words, but going into 2012 I definitely have a plan to make my life bigger and better. I hope you do too. If you haven’t thought about before then think about it now. Well, enjoy your holiday time with family, friends and other loved ones. Wishing you the best for 2012 — Well, then get to it! .

Be Grateful Be Joyous Be Abundant

Do Home Sellers Have to Sell Differently in this Market?

Good Question. What has changed? The way buyers have to buy has changed  because of the tightening of credit standards with higher scores and no more credit issued without income verification and no more or very limited stated income – these things have changed. But what are buyers looking for? A nice home they love with all of the rooms and garage space and number of bathrooms and closets big enough for their current and future wardrobe and bedrooms large enough to comfortably accomodate their lovely furniture. A place they can call home.  No, that has not changed.

So home sellers in this market still have to do what has been done in the markets past – make their home stand out, make the home appealing for the buyer and most importantly price the home right for the market.

Are you ready, willing and able to do that - price your home right for the market. If you need help with pricing your home right, please leave me a comment or ask a question.

Atlantic County NJ — Buyers are Buying!!

At least according to the lastest numbers released by a trade group stating that pending home sales are up by a little over 10% according to contracts signed in October 2011. This number reflects that the market is moving and this may be attributed to the low mortgage rates that buyers are taking advantage of.

Does this reflect investor buyers or single family home buyers? If I had to guess, I would say probably investor buyers and some single family home buyers who have good credit and made their move at the right time to buy in this market.

I think it’s safe to say that for the most part no matter what the market is there will always be buyers as long as they have the money or the credit or access to someone else’s money or credit.

What does this mean for anybody who wants to buy? Get Prepared. Know Your Numbers — get your credit report, go over your finances, sit down and talk about it with your spouse or significant other. If you are a single buyer, do the same thing.

The real estate market is a cyclical market – meaning it goes around and around and you have to prepare to be ready when the cycle comes around.

Have questions? send me your questions at sbhardy@kw.com.

http://bottomline.msnbc.msn.com/_news/2011/11/30/9116187-pending-home-sales-up-by-most-in-almost-a-year#.TtZIuAXCau4.mailto?

Happy ThanksGiving Atlantic County NJ!

Well here we are blissful to be approaching another holiday – Thanksgiving.  This is definitely the time of year to think about what you are thankful for – Family, friends, the last vacation you took, the time with your children or grandchildren or great grandchildren. If you accomplished a goal that you set for yourself – paid a credit card bill off, left that person who was toxic in your life, completed your first year clean and sober. Whatever it is –GIVE THANKS.

If you are still employed you have a lot to be thankful for and you want to go into next year with renewed energy and put yourself in a position of what I have coined M.O.R.E. – Money Outside of Regular Employment. Always move forward to put yourself in a better position especially moving forward thinking of ways to create an extra revenue stream to always be able to take care of yourself and your family. I’m a big advocate for financial literacy. It started in 2002 with Robert Kiyosaki’s course – You Can Choose to Be Rich.  If you’ve never heard of Robert Kiyosaki aka Rich Dad check out his site, www.richdad.com. If you want to learn about it from a woman’s prospective, I’ve got you covered because Robert’s wife, Kim Kiyosaki is the rich woman – www.richwoman.com.  And check out this link too: http://becomefinanciallyliterate.blogspot.com/

Give Yourself and Your Family the Gift of the Best Financial Life You Can Create For Yourself – You and Your family Deserve It!

And Don’t Forget to Give too – Donate to your favorite charity or local food bank. Remember, the local food bank in the Atlantic City area is at the Shore Mall.

Three Factors to Consider Buying a Home in the New Economy

 

Times have been difficult. Some say times are as difficult as the depression era and some say it is worse. It is certainly like no time we’ve experienced. However, there is still a great deal to be thankful for. Although many are on unemployment and many may fear that they will soon receive the dreaded pink slip, we are still blessed to wake up each morning, eat breakfast and/or make breakfast for our families before we head off to work or school. Despite all of the difficulty, there are still those of us who want to become a homeowner for all sorts of reasons. There is no reason to give up on your dream of homeownership, but there will be some things that you will have to do differently that you will want to consider before you start on your journey of your first home or your next home.

The first factor to consider is your credit score.  Although credit has always been a major factor in your ability to get a mortgage, the result of the 2007 economic downturn has made the credit score you need to qualify go up. For example, in 2006 borrowers needed a 620 score to get the best rates. By May 2008 the score you need is 760 or higher to get the best rates. That represents an increase of 140 points. (1)

The second factor to consider is your employment situation. Do you live in a city dependent on a single company or industry that could be vulnerable to real estate downturns? Be sure to investigate an area’s fundamental economy before making a purchase. For example, do you work in an industry that could be more vulnerable to an economic downturn like Las Vegas, NV who largely employees casino workers.

The third factor to consider is your health. That’s right. Your health. All of this stress could and will to some extent take a toll on your health. Are you already overweight? Did your doctor advise you to watch your cholesterol? Did your cardiologist tell you to watch what you eat and cut down on the fat in your diet? Well, are you listening? The extra stress that we take on from worrying about whether or not we’re going to get the pink slip can be terrible on your immune system. And if you’re sick, how are you going to go to work everyday and be your best? Making your health a priority in addition to your credit score and employment situation will help you to overcome stress. Put together an exercise plan. Ten minutes a day can make a big difference. Getting up ten minutes earlier in the morning to stretch or walk in place can make the difference in your level of stress killing you or keeping you here. Pay your bills on time and admit your financial truth – Are you ready for a house? If not, no problem– just plan.

(1).Buying a House in the New Economy – Buyers Advice- Brandon Cornett

Atlantic City NJ Revel Casino Hotel is Coming!

Wow — 500 Boardwalk is going to light up come Summer 2012 because the newest casino in Atlantic City, NJ is coming – Revel Casino Hotel.

The great thing about Revel is that the City of Atlantic City was able to create an opportunity for the residents of Atlantic City to be interviewed first for positions available at this great establishment. How cool is that. Revel is looking at the residents of Atlantic City as valuable assets to work in Atlantic City. This casino hotel will bring lots of needed jobs to the area for all levels of employees — from housekeeping to middle management. Upper management has already been put in place. This is a great opportunity for the residents of Atlantic City and Atlantic County as a whole because anyone who has the skill set for the open positions will be able to get back to work.

How awesome. Welcome Revel Hotel Casino.

Let’s get back to work Atlantic County, NJ!

http://blog.achotelexperts.com/revel-casino-atlantic-city-progress-report/

Have Appraisals Made Selling Your Home Difficult?

Appraisals are supposed to work in conjunction with home sellers and assist agents with getting their client’s  home sold by attaching a monetary value to the home based on  certain criteria. However, since some changes in the appraisal methods and since some appraisers have been involved in shady deals inflating or deflating property values,some changes have affected the property values to the point where it could wreck the deal. If the appraisal on a property does not come at the same price that the buyer and seller agreed to then either the price has to be lowered or raised or the contract has to be cancelled or renegotiated. This causes deals to stop dead in their tracks.

http://mypropertyvalue.wordpress.com/2011/11/07/how-appraisals-are-derailing-home-sales/

Since the prices used by appraisers go according to the comparables that are currently used and prices have fallen significantly, this makes some prices come in lower than expected. Until the market cycle changes to an upward cycle this may be the case for some time. 

If this happens and the buyer had no protection such as a contingency clause they won’t get their intial downpayment back. You can also ask for a second appraisal.  Always do a little background work before moving forward for your best protection.

There may be Help Coming for Homeowners who are Current in their Mortgage

Yes, there may be help on the way for homeowners who are current with their mortgage but may need loan modification so they don’t fall behind on their mortgage. All of the other assistance has been for homeowners who have already fallen behind on their mortgage which lead to some homeowners deliberately falling behind so they can get some help. Hopefully, that won’t have to happen if the negotiation that the federal government is now conducting with five of the country’s largest mortgage companies to develop a plan to allow homeowners who are underwater to refinance their loans to lower rates.

This would help everyone – those who are current and those who have fallen behind. Click the link below to read the whole story.

http://www.hometownannapolis.com/news/hom/2011/10/23-05/The-Realities-of-Real-Estate-Avoiding-a-double-dip-in-housing.html?ne=1