Central New Jersey Real Estate

Check out this new Manufactured/Mobile property that I just posted on my Web site. It is in Robbinsville.

Check out this new Manufactured/Mobile property that I just posted on my Web site. It is in Robbinsville. This Manufactured/Mobile property has 1 bedrooms and 1 baths.

Check out this new Manufactured/Mobile property that I just posted on my Web site. It is in Robbinsville. This Manufactured/Mobile property has 1 bedrooms and 1 baths.

I™ve just sold a Resale – single family property at 162 Garfield Ave in Trenton. 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 Multi-family (5-20 units) property at 736 West State Street in Trenton. 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 55+ property at 88D Dorchester Dr D in Lakewood. 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 A 71 Dorchester Drive in Lakewood. 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 55+ property at 88D Dorchester Dr D in Lakewood. 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 property at 37 Hollywood Ave in Trenton. 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 property at 7 Woodland Court in West Windsor. 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 70 Valley Road in Princeton. 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 50 Price Street in Sayreville. 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 309 Lincoln Ct in Brick. 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 309 Lincoln Ct in Brick. 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.

The GoodLife Team has introduced our Worry-Free Listing which is a Pick Your Commission program.   Visit our website at: http://www.njgoodlifeteam.com/worry-free-listing.asp  If you want to save commission and maximize your exposure to the real buyer pool (not the tire kickers).   Call today to sign up or visit the link above.

Jerel Washington

“Jerel is on the ball! He knows his sales stats and has decided to focus solely on listing property, which means he can give his seller clients his undivided attention. Anyone with a home to sell in Princeton should talk with Jerel first. This man knows his market and has the chops to get your property sold quickly and for the best price!”

“Jerel — that quality you possess is, no doubt, an etremely important part of your success as a realtor.
Houses and other places of residence are all very personal; they are surely representative where a person is in his/her life at any given time.
When someone is buying/selling a home, it means something in his/her life has changed, and not always for the better! Many realtors are very impatient and forget that the bottom line in real estate is — people. Some are so obviously impatient to get to the closing that they actually impede the real progress of the transaction — and actually get in the way of the transaction’s natural progress. (I’ve witnessed that more than once!).
And then some agents– like you — totally “get it” and are in full support of the process.
Take care,.”
Katie, Princeton, NJ

I just wanted to let everyone know that I have a new page in the About Us Section of my site.   Testimonials have gone live.   Click the following link so you can read the new page.   More will be coming soon.   http://jwashington.topproducerwebsite.com/testimonials.asp?preview=true

I just wanted to let everyone know that I have a new page in the About Us Section of my site.   Testimonials have gone live.   Click the following link so you can read the new page.   More will be coming soon.   http://jwashington.topproducerwebsite.com/testimonials.asp?preview=true

I just wanted to let everyone know that I have a new page in the About Us Section of my site.   Testimonials have gone live.   Click the following link so you can read the new page.   More will be coming soon.   http://jwashington.topproducerwebsite.com/testimonials.asp?preview=true

What an amazing day, an amazing night, an amazing historical event unravelled before our eyes.   Barack Obama is our 44th President.   As I flipped throught several channels and watched the international response  one man said “America has shown and continues to prove that it is  truely a land where anything is possible… ANYTHING!” A sense of national pride overcame me and a weight felt like it was lifted from my chess as I began to tear up (not weep).   Congratulations to the Obama Family!

Now the real work begins!   We must all do our parts to conserve and to learn more.   We only have one life, one country, one voice…   let’s make it count.   We’ve entered a new era.

Why settle for 25% or 30% referral fees from traditional referral companies when you can make 50% referral fees with the GoodLife Team!   The market has changed, Buyers and Sellers have changed, your needs have changed!   Why do things the same when what you need is CHANGE!   Your Referrals are important to the GoodLife Team.

We’ll even pay you on the referrals your referrals give us.   Call us today to get the details:   609-933-9044   Jerel Washington, Founder of The GoodLife Team.   www.NJGoodLifeTeam.com

Check out this new Single-family property that I just posted on my Web site. It is at 29 Hollywood Ave in Trenton. This Single-family property has 4 bedrooms and 1 baths. Attention Investors, 1st-Time Buyers, Builders, Home-based Business Owners! Located near the Trenton Train Station (Amtrac, Metro Rail, River Line), and is just 3-5 minutes from Downtown State and Court Buildings. It is a Brick, Semi-Detached home with a fenced hard, enclosed brick front porch, back yard and side yard. Includes off-street parking. 2 Large bedrooms + 1 smaller one and full bathroom is on the 2nd Floor and a 3rd Large bedroom with a 9ft by 4.5ft office area on the 3rd floor. Located just off Greenwood Ave makes an EZ-Walk/Ride to the Highschool. Close to the Villa Park Area. This is a MUST SEE. Well Priced, Excellent Value and Ready for New Buyer (Cleaning Company coming soon to shine this place up, so hurry and come see it TODAY!!! This property can also be sold with Block 13202 Lot 30 (30×100) & Block 13202 Lot 29 (50×100). Neither property has a structure and both are buildable! Subdivision possible, subj to zoning minimums – 400sqft for SFD, 2500sqft for Semi & 1500 sqft for Row. .

Today I had a conversation with a seller in Mercer County.   He was very upset that the agent he hired to sell his house also represented a buyer with an offer. The agent failed to disclose that it was his buyer.   The agent also seemed to œforget to mention that he signed a listing agreement to sell the buyer’s condo.   The seller didn’t understand why his agent was always to pushing the needs of the buyer and seemed to favor the buyer’s side.   This seller had not agreed to a dual agency sale and had not been informed.   He wanted to know if the agent was supposed to disclose this information. In short the answer is YES, the Agent is suppose to disclose in writing the relationship on the Opinion 26 & with a Dual Agency Agreement.   Both explain agency relationships.   In New Jersey Dual Agency in a Real Estate transaction IS LEGAL but MUST be disclosed, in writing PRIOR to or AT the time of a WRITTEN OFFER.   There are many states where Dual Agency has been dis-allowed.   With a little online research, you (the reader) can find oodles and oodles of information about this topic of DUAL AGENCY, so read up; there are both Pro and Con arguments.   Choose what is best for you after reading for yourself.

The Good Life Team provides Full Disclosure of any and all Dual Agency situations to both Buyer and Seller at first contact.   I find that in most cases, neither buyer nor seller is concerned with a Dual Agency situation so long as they are well informed.

I am not sure why some agents would choose to hide the relationship.   We find that education entices a buyer or seller to agree.   Full disclosure requires explaining that the agent is sitting on a fence, walking a very fine line.   Full disclosure requires that you explain that when working as a dual agent you can not give full service to either party.   As an agent I can provide comparables to a buyer but must also provide the same to the seller, I cannot advice a seller or a buyer during the negotiations because I may be privileged to confidential information.

THE BIGGEST EXCUSE OF DUAL AGENCY
(I DON™T HAVE TO FIND A BUYER FOR YOUR HOME)

Some agents believe that their duties as a fiduciary to a buyer or seller are compromised as follows:   Some agents believe when you agree to dual agency  you forfeit loyalty, obedience and full disclosure.

Reasonable Care, Obedience, Disclosure (full), Confidentiality, Accounting & Loyalty

MYTH: An agent can’t be 100% loyal to two clients.   Think of two children.   You love both and owe both 100% loyalty, love and support but one child needs more help and support than the other.   As a dual agent you can’t help the needier child more than the less needy child.

FACT: The information provided to both with written permission from the originating party is fair.   Back to the children.   Loving both means you tend to the needs of each as they arise.   Written permission from the other party allows this.

MYTH: An agent can’t be 100% obedient to two clients.   If a seller tells you to get them the best price as a dual agent you can’t give advice to the buyer to help the seller get their best price.   If the buyer wants help offering a lower price as a dual agent you can’t be obedient to two parties.

FACT:   The INTERNET, the MLS, and PUBLIC RECORDS all have information that both buyers and sellers can easily and quickly access.   Providing information for sellers to know the correct œMARKET VALUE of their property at the time it is listed and again at the time an offer comes in and providing information for buyers to know the correct œMARKET VALUE of a property at the time they are placing an offer is due-diligence.   I believe that is what my clients are paying me for.

MYTH: An agent can’t give full disclosure to either the buyer or seller when working as a dual agent.  

FACT: An agent CAN give full disclosure with both parties give permission in writing.

This is a slippery slope.   I prefer to be a dual agent, and serve both my clients.   It can be fraught with potential problems so, full disclosure is the best way to go from the beginning.

- Jérel Washington, Principal of The Good Life Team

There is a lot of stuff floating about the internet on how to pick an agent.   They talk about the magic 10 questions to ask, or the 12 things every seller must know before hiring an agent.   Honestly…   I hate those articles.   They are no more than rat holes (traps if you will) that speak to particular answers agents have pre-rehearsed.   Does this make sense…??????   Well…, here’s what you need to know in order to hire correctly!

1.) Choose the Agent NOT the Brokerage

Contrary to what most believe the Brokerage  in 95% of the cases, OWNS the Listing Contract you sign at the listing appointment.    Less than 10% of the brokerages  control the actual marketing and exposure you get for your property to the public (the buying pool).

Why is this important?
Marketing is all about getting the maximum exposure of your property to the “Ready, Willing & Able” buyer pool.   If the “Ready, Willing & Able” Buyers don’t know about your property, they surely will not buy it.   Simple right?

The Agent  NOT the Brokerage  pays for  your actual  marketing and is 100% responsible for the amount of exposure your property receives… or not.   The Brokerage provides corporate account discounts to local papers, magazines and company internet sites.   These account for only 2% of home sales nationwide.   This leaves 98% of home sales that come from other sources.   What is your AGENT doing to cover the difference?

Immaculate estate on .96 Acre with exceptional attention to detail with luxury details in every room. Virtual Tour Coming soon. A few Details 4 Bedrooms, Master Suite with two walk-in closets, sitting room, Jaccuzi Tub with 6 jets, private comfort room. (For Photos and Community information CLICK HERE!) Childs room includes two tone designer colors and closet organizer. Granite Counters and 46-inch Maple cabinets with GE & Maytag appliances. Stainless undercounter mounted sink. The entire 1st & 2nd floor is equipped with media speaker system connected from the Great Room. Each room has volume & on/off controls. Recessed ligting, pool, Deck & Solarium are all exceptional features of this luxurious home. Even the Finished basement offers a Billiard Room with Bar which includes a built-in fish tank, a second family room/entertainment room with a 2nd wiring center for basement speaker system, a full bathroom and a home gym room. This home offers too much to list,

The Good Life Team just sold another  property!   A beautiful Cloister Model Condo in the Colonnade Pointe development located at  107 Lassen Court – Princeton   (West Windsor, TWP).   Get this… we did it in under  5 days!   This was  an excellent condo in the best location on the 3rd Floor.   Vaulted Ceilings, full privacy as  both bedrooms face the woods. Come and visit  our website to see other properties in that area. If you are interested in looking for or selling your home FAST, please Contact The Good Life Team.

I™ve just sold a Single-family property at 328 Extonville Road in Chesterfield. 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 94 Hickory Street in Carteret. 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.

Since I specialize in Luxury Homes and Investment properties I am often asked the following question “Is it a good idea to buy investment property right now?”   I am presented with this  question 3-8 times per week so I hope to answer it once and for all right now.   The best time to buy real estate is when you can!   That’s it!   “Get in where you fit in” my uncle use to tell me while growing up in Los Angeles.   The next question to follow is usually, what is a good deal.   Quite honestly there are deals every where, in every market, in every town, in every price category.   The question you (as an investor) need to answer is this:   How much of a risk am I prepared to take?

 You have to recognize a few truths…   #1-Not everyone is working with the same basis of knowledge,  capital, resources etc…   #2-What’s a good deal for me may be risky for someone else & #3-The kind of property (Commercial, Residential, New vs Older, Multi-family vs Single-family, low income vs higher income (even questionable vs good credit), all play heavy factors in if you will be an investor and what kind of investor you will be.  

 So…   Having written this bit of information let me answer my own question.  

Restated Q: Is now a good time to buy real estate?  
A: YES!  

Call me and let’s figure out what works for you.   609-933-9044

I™ve just sold a Single-family property at 104 Prospect Drive in Hightstown. 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.

Recession is more likely than not, says economist

Tuesday, November 27, 2007

By  Glenn Roberts Jr.
Inman News

Economist Robert J. Shiller sees warning signs in a national home-price index that dropped at a record rate in the third quarter.

“We are in the aftermath of the biggest housing boom in history,” said Shiller, a Yale University economics professor, in a presentation today. “We’re out of the range of normal variation in data. I take that as very significant. I think there is a significant chance of recession — of probably over 50 percent at this point.

“Most economists are still optimistic that there are a lot of signs of strength. I’m going out on a limb when I say I’m worried about a recession,” but he said he is definitely not alone. “More and more people are going out on a limb now.”

The Standard & Poor’s/Case-Shiller U.S. National Home Price Index, a quarterly gauge of changes in national home prices that is based on repeat sales of the same homes over time, dropped 4.5 percent in the third quarter compared to third-quarter 2006 and fell 1.7 percent compared to second-quarter 2007 — both declines represent records in the 21-year history covered by the national price index.

Shiller, who also serves as chief economist for MacroMarkets LLC, a company that maintains licensing rights to the national index and related metro-area price indices to create financial products, said that the only comparable period in U.S. history to the latest housing boom occurred in the 1940s, fueled by a surge in home construction at the close of World War II.

The massive home-price gains of the past decade are not explained by building costs, population or interest rates, he said, “So we have a remarkable phenomenon here that I think is anomalous. The question is: What is (the market) going to do next?”

The sharp downward trend in the price index already rivals the decline during the housing downturn in the early 1990s, Shiller said.

“I think we are in a period of exceptional uncertainty about the value of our homes,” he said, adding that home-price declines of 50 percent in real terms “is not out of the question — we’ve seen that kind of thing happen before.”

He noted that home prices fell more than 40 percent in the Los Angeles area from 1989 to 1997, and home prices fell substantially in the 1990s in London, giving up most of the gains they had experienced in the 1980s.

The national home-price index has fallen sharply this year — it peaked in 2004 above a 15 percent year-over-year price increase and has been in negative territory this year.

As the author of “Irrational Exuberance,” a book about speculative behavior that draws its title from a famous statement by former Federal Reserve Chairman Alan Greenspan, Shiller said that there is evidence for the speculative nature of the latest housing boom, though it is difficult to pin the blame on any one cause because it was a global event.

“Most big historic events have multiple causes,” he said, and “Every theory that attempts to explain speculative booms are on shaky ground.”

He said that some major nations, including India and China, are becoming increasingly capitalist, and there has been a “buyer’s panic” in the past decade that has accompanied uncertainty about real estate values.

Also, Shiller said that many of the world’s central banks may have underestimated the fallout from the global housing boom, as they did not take enough action to curb the boom.

“These central bankers have, I think, expressed some concern about the housing boom but maybe not enough. I think it was a general culture of the central banks that did not emphasize the problem of the housing boom and did not see any reason to tighten credit because of this,” he said.

David Blitzer, managing director and chairman of the index committee for Standard & Poor’s, said it’s unclear whether the housing market is about to hit bottom.

“I don’t see anything in the data … that would say we’re at the bottom or close to the bottom. Hopefully we’re halfway — I don’t see any clear evidence one way or the other on that.”

An S&P/Case-Shiller home-price index that tracks 20 metro areas fell 4.9 percent in September compared to September 2006, and 15 of the metro areas experienced year-over-year price declines.

In Tampa, the index fell 11.1 percent year-over-year in September. Next on the list was Miami, with a 10 percent drop, followed by Detroit and San Diego at 9.6 percent, Las Vegas at 9 percent, Phoenix at 8.8 percent, Los Angeles at 7 percent, San Francisco at 4.6 percent, Minneapolis at 4.5 percent and Cleveland at 4 percent.

Seattle and Charlotte had the largest gains in September compared to September 2006, at 4.7 percent. Next on the list was Portland, Ore., at 2.2 percent, followed by Atlanta at 0.4 percent and Dallas at 0.2 percent.

Source: S&P/Case-Shiller

Well, between John and I we believe the market will not rebound until 2010 at the least.   Call us for the details or look to our latest report coming Dec. 2007 entitled What’s Going On in our Market.

Welcome to Jerel Washington’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Princeton Junction.