When I go to any event or gathering, this question about the market is the most widely asked question, sometimes even more than "How are you?"
The honest answer always is, "It depends". If you are a buyer, the market is different than if you are a seller. Buyers today have a lot of inventory to choose from, interest rates are low, and prices are down, so a very good market for them. For sellers, the abundance of inventory and falling prices is not the greatest news unless they are planning to buy a bigger more expensive home.
The prediction is that the prices will continue to adjust lower for couple of years due to upcoming foreclosures. And if that is the case, should the buyers wait to buy or should they even buy at all? There is no one answer to this, it really depends upon the buyer's needs. If the buyer plans to move out and sell within next 4 years or so, they may want to put on hold their buying plans. But if they plan to stay long term, then all other conditions encourage the purchase - conditions such as good values, low interest rates, enough inventory to choose from, tax write offs, etc. By the way, no one has a crystal ball on when the market will bottom out. Please remember that the market is always local, so don't rely on national news, monitor what is happening in the area you want to buy in.
One advise for buyers. Don't buy a home just based on price, consider all other factors including the "WE LOVE the home" factor. Remember, you have to live there daily. You better enjoy going to it everyday otherwise the savings may not be worth it at all.
Should sellers sell in today's market? Well, if they have to move for whatever reason, then they don't have a choice. The best thing in that case is to price the home right for the current market conditions. But if they can wait, may be they should consider holding off for 4+ years for the market to come back. Now if they are buying a more expensive home in a similar market, then that changes everythhing. While it may seem like a loss on selling end compared to few years ago, the purchase bargain will way make up for that perceived loss!
All said, buying and selling is an individual need and an individual experience. No one answer fits all. Talk to your local agent who will give you an honest answer and guide you properly, based on your circumstances and needs. For the right agent, it shouldn't be just about making a sale, it should be about your needs first, selling or buying! Remember, price is but one component of any transaction.
Have questions? Need clarifications? Want to discuss your specific needs? Please feel to contact us.
Sanjeev Aneja, ABR, CRS, GRI
Broker
On Track Realty
732.494.2211
sanjeev@ontrackrealty.com
Wednesday, June 1, 2011
Tuesday, February 8, 2011
Don't let your circumstances keep you hungry!
Rich people have no shortage of food. Those below poverty level have many assistance programs to make sure they don't go hungry.
With the economy still struggling, many people are going without adequate food. Among the hardest hit are middle class, working families. They’re caught between having too much to qualify for programs designed for the poorest families, but not enough to make it without support. Middle income people struggling with foods bills, a new phenomenon in the United States, are unlikely to approach food banks and other support programs for a number of reasons, their pride chief among them
Why would this category not have enough money to buy food? There can be few reasons, common ones being unforseen major healthcare costs, a temporary loss in job of a family member, an unseen expense that cuts into their budget, etc.
We are pleased to announce a program for such families. If you are one of such families, please let us know and we will make an arrangement for few days of vegetarian food for you. Be assured, your name will not be disclosed to anyone outside our office (except volunteers who may offer help to deliver food), so no need to feel embarrassed. Many of us face such a situation in our life, one time or the other, and in most cases, it is a very temporary phase. 'This Too Shall Pass' before you know it and when it does you can payback by helping feed 2/3 families in this position then.
Contact us at sanjeev@ontrackrealty.com or call us at 732.494.2211 for any questions regarding this program. Here are some simple requirements to qualify for this program.The program may be modified, without notice, to serve the real purpose of helping those in need.
1) You must not be on unemployment or on any other assistance program
2) You must be currently working
3) You must agree to help feed 2/3 families whenever your needs change in future
Please provide us your name, phone #, home address, email address, your current income, how many members in the family and their ages, and a paragraph explaining the reason for your need. All information will be kept in strict confidence. You may email this to us at sanjeev@ontrackrealty.com or mail this to us at On Track Realty, 186 Lincoln Highway, Edison, NJ-08820. We will contact you if we have any questions.
Sorry, due to limited resources, we can only cover residents of Edison, Metuchen, and Iselin, NJ at this point
One needy family will be picked every day in 2011and food for few days will be delivered to them. We apologize in advance if we we can't help all due to the limited budget.
Don't need food but want to help feed the needy? No problem, contact us and we will tell you what items are needed so that you can drop them off for us.
Sanjeev Aneja, ABR, CRS, GRI
Broker/Owner
Ontrack Realty
http://www.ontrackrealty.com/
732-494-2211
http://www.forittobe.com/
With the economy still struggling, many people are going without adequate food. Among the hardest hit are middle class, working families. They’re caught between having too much to qualify for programs designed for the poorest families, but not enough to make it without support. Middle income people struggling with foods bills, a new phenomenon in the United States, are unlikely to approach food banks and other support programs for a number of reasons, their pride chief among them
Why would this category not have enough money to buy food? There can be few reasons, common ones being unforseen major healthcare costs, a temporary loss in job of a family member, an unseen expense that cuts into their budget, etc.
We are pleased to announce a program for such families. If you are one of such families, please let us know and we will make an arrangement for few days of vegetarian food for you. Be assured, your name will not be disclosed to anyone outside our office (except volunteers who may offer help to deliver food), so no need to feel embarrassed. Many of us face such a situation in our life, one time or the other, and in most cases, it is a very temporary phase. 'This Too Shall Pass' before you know it and when it does you can payback by helping feed 2/3 families in this position then.
Contact us at sanjeev@ontrackrealty.com or call us at 732.494.2211 for any questions regarding this program. Here are some simple requirements to qualify for this program.The program may be modified, without notice, to serve the real purpose of helping those in need.
1) You must not be on unemployment or on any other assistance program
2) You must be currently working
3) You must agree to help feed 2/3 families whenever your needs change in future
Please provide us your name, phone #, home address, email address, your current income, how many members in the family and their ages, and a paragraph explaining the reason for your need. All information will be kept in strict confidence. You may email this to us at sanjeev@ontrackrealty.com or mail this to us at On Track Realty, 186 Lincoln Highway, Edison, NJ-08820. We will contact you if we have any questions.
Sorry, due to limited resources, we can only cover residents of Edison, Metuchen, and Iselin, NJ at this point
One needy family will be picked every day in 2011and food for few days will be delivered to them. We apologize in advance if we we can't help all due to the limited budget.
Don't need food but want to help feed the needy? No problem, contact us and we will tell you what items are needed so that you can drop them off for us.
Sanjeev Aneja, ABR, CRS, GRI
Broker/Owner
Ontrack Realty
http://www.ontrackrealty.com/
732-494-2211
http://www.forittobe.com/
Saturday, January 15, 2011
Biggest Myth in Real Estate!
Brand name is great for recognition. And in most cases, for consistency. Go to a pizza chain or another fast food chain, and you are pretty much guaranteed the same quality of food, no matter what. But will the level of service be same in all other similar franchises? And the answer is "Absolutely Not". The service is based on a person's attitude, it has nothing to do with the product, unless the training standards are very strict and so are the hiring standards.
This becomes worse and changes very quickly in service industry, such as insurance, finance, and real estate. While I don't know much about other industries, I sure can talk of real estate. And one thing I can tell you with 10,000% guarantee - no two agents, within the same office, are alike. No two offices (same franchise) are alike either. Sadly, the recruiting standards at the franchise level hardly exist. Can you breathe and do you want to join us - these are not great standards to recruit, don't you agree? While there are some offices in the country (and many are independent offices not affiliated to any franchise) that adopt an excellent standard of recruiting and training and making sure the customers come first, sadly most are not. Part time, no problem! Don't want to come to office meetings, no problem! Don't want to be trained, it's OK! Want to do just 2/3 transactions a year, it's OK too! Infact, some companies will even offer high commission splits to attract anyone and everyone!
So what do you do as a consumer to ensure excellent service and the knowledge to handle most likely your your largest transaction? Here are few thoughts;
1) Ask the agent about their current success and experience and training.
2) Ask the agent if they do this full time or part time.
3) Ask the agent how many clients they have helped in last 12 months.
4) Visit the office and check the environment. You will get a good feel about the office. Does the office reflect an environment that puts clients first?
5) Meet the broker/owner if you can to see what their commitment is to your satisfaction, specially if things do go wrong.
6) Ask them about their satisfaction guarantees. Will they tie you to them or will they let you go if you are not satisfied with their service? Ask for this in writing. Insist on Unconditional Guarantee!
7) Ask for names of last 3 clients they have assisted - last 3 (not just any 3). Infact, ask them for few (or all) of their current clients too.
In my opinion, Real estate is not at all about franchises (I have been on both sides of it). Same franchise will give you 2 offices in the same town, both with totally different attitude of service. Forget the franchise, even the same office will give you agents with different outlook on how to serve clients. So don't just choose any agent. Choose the one who will put your interest over theirs - Not just as a slogan, but sincerely believe and do so.
One last thing about most franchises. They are independently owned and are only as good as their leadership wants them to be with their internal policies, just like any other non-franchise office. It is great for name recognition but that is about it, in many cases.
Want to share your thoughts and experiences on your dealings with franchise and non-franchise offices? Agents in general? We would love to hear from. Your input will help us further improve so that we can offer even better service to our clients.
Sanjeev Aneja, ABR, CRS, GRI
Broker/Owner
On Track Realty
http://www.ontrackrealty.com/
732-494-2211
http://www.forittobe.com/
This becomes worse and changes very quickly in service industry, such as insurance, finance, and real estate. While I don't know much about other industries, I sure can talk of real estate. And one thing I can tell you with 10,000% guarantee - no two agents, within the same office, are alike. No two offices (same franchise) are alike either. Sadly, the recruiting standards at the franchise level hardly exist. Can you breathe and do you want to join us - these are not great standards to recruit, don't you agree? While there are some offices in the country (and many are independent offices not affiliated to any franchise) that adopt an excellent standard of recruiting and training and making sure the customers come first, sadly most are not. Part time, no problem! Don't want to come to office meetings, no problem! Don't want to be trained, it's OK! Want to do just 2/3 transactions a year, it's OK too! Infact, some companies will even offer high commission splits to attract anyone and everyone!
So what do you do as a consumer to ensure excellent service and the knowledge to handle most likely your your largest transaction? Here are few thoughts;
1) Ask the agent about their current success and experience and training.
2) Ask the agent if they do this full time or part time.
3) Ask the agent how many clients they have helped in last 12 months.
4) Visit the office and check the environment. You will get a good feel about the office. Does the office reflect an environment that puts clients first?
5) Meet the broker/owner if you can to see what their commitment is to your satisfaction, specially if things do go wrong.
6) Ask them about their satisfaction guarantees. Will they tie you to them or will they let you go if you are not satisfied with their service? Ask for this in writing. Insist on Unconditional Guarantee!
7) Ask for names of last 3 clients they have assisted - last 3 (not just any 3). Infact, ask them for few (or all) of their current clients too.
In my opinion, Real estate is not at all about franchises (I have been on both sides of it). Same franchise will give you 2 offices in the same town, both with totally different attitude of service. Forget the franchise, even the same office will give you agents with different outlook on how to serve clients. So don't just choose any agent. Choose the one who will put your interest over theirs - Not just as a slogan, but sincerely believe and do so.
One last thing about most franchises. They are independently owned and are only as good as their leadership wants them to be with their internal policies, just like any other non-franchise office. It is great for name recognition but that is about it, in many cases.
Want to share your thoughts and experiences on your dealings with franchise and non-franchise offices? Agents in general? We would love to hear from. Your input will help us further improve so that we can offer even better service to our clients.
Sanjeev Aneja, ABR, CRS, GRI
Broker/Owner
On Track Realty
http://www.ontrackrealty.com/
732-494-2211
http://www.forittobe.com/
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