Coldwell Banker Flanagan Realty

Media Inquiries: Call Jim Flanagan at 732-270-6100 

Act Now! – Federal Tax credit for FIRST-TIME homebuyers 

COLDWELL BANKER FLANAGAN REALTY Urges Potential First-Time Buyers to Allow Enough Time for Closing to Secure Tax Credit of up to $8,000 

Toms River, NJ, September 8th, 2009  – The $8,000 federal tax credit for first-time homebuyers is scheduled to expire on December 1, 2009.  However, in order to qualify, the transaction must be closed on or before November 30th, essentially leaving first-time buyers with less than three months to complete the process. This assumes approximately 45 days to search for a home and another 45 days to obtain mortgage financing and complete all the necessary steps to closing, including appraisals, inspections and title work.  While the urgency of trying to find and close on a home before the deadline may seem stressful, it doesn’t have to be.  

“The tax credit is encouraging first-time homebuyers, but we’re concerned that people could miss out on this unique money-saving opportunity if they don’t anticipate the time necessary for closing,” said Jim Flanagan, Broker of Record .  “While every home purchase is a unique experience, we are encouraging first-time homebuyers to be under contract by early to mid-October in order to safely meet the closing deadline and qualify for this tax credit.” 

For those first-time buyers who are in the early phase of entering into the home buying process, Coldwell Banker Flanagan Realty offers consumers the following six steps for speeding up the process: 

1. Find A Qualified Real Estate Agent.  A team of experienced professionals are key to making the home buying process simple and seamless.  Start by interviewing and selecting a sales associate who understands what you’re looking for.  A real estate agent will arrange showings, and keep track of the properties visited. He / she should also be able to help indentify suitable lawyers, mortgage lenders, home inspectors and others who play a role in the process.  Remember, an agent is an expert who will negotiate the best price and incentives on a home, and will oversee the sales process on a homebuyer’s behalf.  It is critical that you get a timeline from your real estate agent so that you leave enough time for the sometimes lengthy closing process to occur. 
2. Know Before You Go.  The first step in the home buying process should always be to have an idea of the type of property one wants to buy. By separating the “must haves” from the “wants,” homebuyers can focus on what’s really important.  Free online tools such as Coldwell Banker On Location (http://www.youtube.com/coldwellbanker ) and the recently launched mobile application for iPhone and Android devices are available to help consumers quickly and conveniently learn about neighborhoods, view what’s on the market and compare home prices in over most U.S. markets and 28 countries worldwide.  Homebuyers who arm themselves with as much knowledge as possible before hitting the ground with an agent are bound to save time in the long-run.   
3. Get Your Credit Report In Order.  A sound financial track record and solid credit score can help lock in a home loan and lower interest rates.  Lenders today are looking at prospective borrower’s credit reports more closely than ever so it’s important to examine one’s credit report for mistakes and eradicate any “toxic” debt such as overdue credit-card payments before the home shopping begins.  Rectifying mistakes is easy to do but it can be a time consuming process.  Checking a credit score and addressing any errors will help expedite the approval process when it comes time to make an offer.   
4. Compile Your Paperwork.  At the same time homebuyers are working to correct or improve their credit report, they should also pull together the documents they will need to provide the lender.  These documents include:   

• · Verification of employment form
• · Two most recent pay check stubs
• · Two most recent bank statements
• · Copies of the last two W2 forms received from employer
• · Copies of any asset statements including those for retirement accounts, stocks, bonds or mutual funds
• · Copy of social security card 

* If there is a co-applicant on the loan, all of these forms will be required of that person as well. 

1. Get Your Pre-Approval.  Once the paperwork is in order, it’s time to get pre-approved for a mortgage.  “Pre-approval” means that a lender has verified the borrower’s credit and other credentials and is committed to making a loan.  This is different (and more valuable to sellers) than pre-qualification, which simply gives the borrower an idea of the size of the mortgage he / she might afford without actually committing to a loan. 

The borrower is not obligated to get a loan from the lender that offers the pre-approval letter but keep in mind that a pre-approval does involve giving permission for a hard credit inquiry.  This could potentially result in a small ding on the borrower’s credit report.  Getting this early green light, however, will put homebuyers in a stronger position with sellers, demonstrating how serious they are about home ownership – and that they are well-qualified.  

1. Shop for the Most Favorable Mortgage Option.  People can face misunderstandings and even lose their homes if they don’t fully understand their mortgages.  It’s imperative for homebuyers to educate themselves on the risks of the different types of mortgages and select the right one for his / her family.  Early on, shop around for the most favorable mortgage rate and terms. A difference of even half a percentage point can mean a considerable savings over the life of a loan. For more information on mortgages visit http://www.bankrate.com/mortgage.aspx.   

For additional information and provisions on the first-time homebuyer federal tax credit, contact your local Coldwell Banker Real Estate agent or visit www.coldwellbanker.com.  

Flanagan Realty Inc. i.e., Coldwell Banker Flanagan Realty located at 1541 Route 37 East, Toms River, NJ 08753, can be reached at 732-270-6100 and www.FlanaganRealty.com.  Coldwell Banker Flanagan Realty has been serving the Ocean County market area for over  29 years.  

About Coldwell Banker Real Estate

Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and approximately 100,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

Photo Credit

Monthly Real Estate Market Report for Toms River, NJ – August 2009
August by the numbers:

• 88 The number of Single Family Homes CLOSED during the month

• $399,009 Average LIST price for August*

• $330,822 Average SALES price for the month*

• 101 Average DAYS ON the MARKET for August

• 95.44% The SALES price to LIST price RATIO for the month

• 784 Number of Single Family Homes ACTIVE on the market in August

• 8.90 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!

August 2009, saw 88 Single Family Homes CLOSE in Toms River, as compared with 67 in August of 2008 (an increase of 24%)! THIS MARKS THE SECOND MONTH, IN A ROW; WE HAVE SEEN WHERE SALES HAVE SURPASSED THE SAME MONTH OF THE PREVIOUS YEAR! Of those 88 homes, 33 were in the price range of $200,000 to $299,999 (37%). Combined with the CLOSINGS from the First Half of 2009, this represents an INCREASE in SALES of 33%, in this particular price range, over the same time last year!

*These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.

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Monthly Real Estate Market Report for Toms River, NJ – July 2009
July by the numbers:

• 96 The number of Single Family Homes CLOSED during the month

• $384,189 Average LIST price for July*

• $361,420 Average SALES price for the month*

• 96 Average DAYS ON the MARKET for July

• 94.07% The SALES price to LIST price RATIO for the month

• 779 Number of Single Family Homes ACTIVE on the market in July

• 8.11 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!

July of 2009, saw 96 Single Family Homes CLOSE in Toms River, as compared with 79 in July of 2008. THIS MARKS THE FIRST MONTH WE HAVE SEEN WHERE SALES HAVE SURPASSED THE SAME MONTH OF THE PREVIOUS YEAR! Of those 96 homes, 25 were in the price range of $200,000 to $259,999 (31%). Combined with the CLOSINGS from the First Half of 2009, this represents an INCREASE in SALES of 31.03%, in this particular price range, over the same time last year!

*These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.

James Flanagan

732-270-6100

COLDWELL BANKER FLANAGAN REALTY PARTICIPATING IN NEW COLDWELL BANKER ‘ON LOCATION’ YOUTUBE CHANNEL

Coldwell Banker On Location is First in Industry to Fully Leverage Video for Local Search and Insights

Toms River, NJ, July 31, 2009 – Coldwell Banker Flanagan Realty is announcing its participation in the new Coldwell Banker Real Estate LLC branded YouTube channel that offers consumers a new way to search for and interact with real estate information and listings. Named Coldwell Banker On Location (www.youtube.com/coldwellbanker), the channel will fully leverage video to drill deeper into the local insights that consumers want when searching for real estate, and will provide unique information about Ocean County, NJ.

On Location is a collaboration between Coldwell Banker Real Estate, YouTube (a Google subsidiary) and Google. As the first branded YouTube channel to automatically provide local results when visitors first hit the site by using dynamic IP lookup, it is arguably one of the most comprehensive and immersive brand channels on the YouTube platform.

What Makes Coldwell Banker On Location Different?
“This channel allows us to give potential home-buyers a much more in-depth view of what it’s like to live in Ocean County, whether they are purchasing their first home, retiring or looking to move because of a new job,” said Jim Flanagan, Broker of Record of Coldwell Banker Flanagan Realty. “Our agents are excited that they can use this unique video platform to share knowledge and more effectively showcase their homes online, saving time and energy for consumers.”

Coldwell Banker On Location differs from other real estate Web sites by using video to bring real estate more vividly to life – offering behind-the-scene looks at towns and neighborhoods, smart tips and timely news on real estate topics, and video listings of homes for sale. Secondly, content posted to On Location has a strong emphasis on local information and insights, so consumers can dig deeper into the areas of the country that interest them most.

Coldwell Banker Flanagan Realty plans to develop in-depth videos highlighting the unique aspects of Ocean County, NJ, with an emphasis on Toms River and Manchester, as well as videos that feature tips and information about the real estate selling and buying process overall. “Right now, we have an $8,000 Tax Credit available for qualified buyers”, noted Jim Flanagan, “that’s something we’re going share on YOUTUBE!”

Supporting this highly localized perspective is one of the more unique aspects of Coldwell Banker On Location – the ability to search for videos through a special map feature that has been developed specifically for the site. The map ‘widget’ is a prominent feature at the top of the On Location site and the main starting point for consumers searching for a home, a specific area of the country or more information on a real estate topic.

Residents of Ocean County, NJ, will automatically be shown local video search results when first visiting the site. If they are looking for homes in another part of the country, they can “Browse By Map,” and enter the city / state or zip code of their choosing – immediately pulling up that area’s videos listings, local community spotlights and Coldwell Banker sales associate/representative profiles. Consumers can click through to view specific videos – as well as connect back to the main Coldwell Banker Web site to learn more about a specific property for sale.

“Video is a critical part of how today’s consumers want to explore real estate, and we intend to use it to an extent never before seen in our industry,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate LLC. “On Location provides an exciting new platform for our vast network of thousands of sales associates to directly share the kind of local insights and knowledge that is invaluable to consumers hoping to learn about a new area.”

“Every month, millions of people search on YouTube for real estate content. Consumers are hungry for real estate-related videos. I’m thrilled that Coldwell Banker is the first in the industry to develop such a substantial innovation for real estate video. I look forward to seeing Coldwell Banker build On Location into one of the most active destinations for real estate search, discussion and engagement.”

Some of the video and written content for On Location will be supplied by a select group of content providers, including the Associated Press, CNN, Reel Productions TV, This Old House and TurnHere. Coldwell Banker On Location will complement the company’s main Web site at www.coldwellbanker.com – including the ‘Learn’ section which features educational content as well as news articles and updates on the real estate sector. It extends the company’s already robust social media strategy, which includes Facebook pages for the brand and its two founders, Colbert Coldwell and Arthur Banker, a Twitter feed (www.twitter.com/coldwellbnkr) and profiles on Flickr and FriendFeed.

In addition to using YouTube as a platform, Coldwell Banker Real Estate is leveraging the Google family of ad networks and channels for promotion of On Location. This includes both Google and YouTube search ads, YouTube banner promotions and Google TV.

Development of the On Location site was a collaborative effort by Coldwell Banker interactive agency partners, FD Kinesis and Bootstrap Software, Inc.

To see a video about Coldwell Banker On Location please visit: http://www.youtube.com/watch?v=W1AKZDhUrLY

Why: Because TIME is running out to “qualify” for the $8,000 Tax Credit!

RELEASE
Lisa Lawson
732-657-6200

Coldwell Banker Flanagan Realty Hosting First Time Home Buyers Seminar at the Manchester Library on July 25th, 2009

Coldwell Banker Flanagan Realty is offering free advice on how “qualified buyers” may take advantage of the $8,000 Tax Credit!

Manchester, NJ, July 10, 2009- Coldwell Banker Flanagan Realty announced they will be hosting two sessions for “First Time Home Buyers” on July 25th, 2009, at the Manchester Library, 21 Colonial Drive, Manchester, NJ 08759. The first session will be 11am until 12:30pm and the second session will be 2pm until 3:30pm. Seating is limited, so please call 732-657-6200 to reserve a space.

“This is a great opportunity for today’s first time buyer to learn how to take advantage of the $8,000 Tax Credit that is available for qualified buyers”, said Lisa Lawson, Manager, “they could also find out if they qualify for a mortgage too!” Mortgage Representatives from Wells Fargo, Franklin American, Bank of America, Garden State Assets and more, will be on hand to assist potential home buyers with the process.

“Refreshments will be served and door prizes will be awarded, courtesy of our sponsors” thanked Lisa Lawson, “we’re anticipating a great turn out, so I would strongly suggest reserving your space!”

Flanagan Realty Inc. i.e., Coldwell Banker Flanagan Realty located at 2501 Route 70, Manchester, NJ 08759, can be reached at 732-657-6200 and www.FlanaganRealty.com. Coldwell Banker Flanagan Realty has been serving the Ocean County market area for over 29 years.

About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and 105,300 sales associates in 46 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

Photo Credit

Monthly Real Estate Market Report for Toms River, NJ – June 2009
June by the numbers:

• 69 The number of Single Family Homes CLOSED during the month

• $363,448 Average LIST price for June*

• $346,680 Average SALES price for the month*

• 84 Average DAYS ON the MARKET for June

• 95.38% The SALES price to LIST price RATIO for the month

• 794 Number of Single Family Homes ACTIVE on the market in June

• 11.50 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!

*These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.

June, 2009, saw 69 Single Family Homes CLOSE in Toms River, as compared with 95 in June of 2008. Of those 69 homes, 15 were in the price range of $200,000 to $250,000 (22%). Combined with the CLOSINGS from the First Quarter of 2009, this represents an INCREASE in SALES of 18.75%, in this particular price range, over the same time last year!

REMOVE ALL PORTABLE OR SNIPE SIGNS, BANNERS, PENNANTS & TENTS. You are only allowed to have signs which have been approved by the Toms River Planning Board.

The potential fine for failing to comply; $300.00 to $1,000!

What did these “offending” signs say? Here’s one at the beginning of my latest video:

Now, I understand the Code Enforcer is just doing their job but, in the midst of the GREAT RECESSION, one may want to take a minute, READ the signs and act accordingly. OR, we could just keep putting out all those ELECTION signs…we know how effective they are…they got us HERE!

YOU be the judge.

• 46 The number of Single Family Homes CLOSED during the month

• $356,467 Average LIST price for May*

• $332,528 Average SALES price for the month*

• 86 Average DAYS ON the MARKET for May

• 93.28% The SALES price to LIST price RATIO for the month

• 796 Number of Single Family Homes ACTIVE on the market in May

• 17.30 Number of MONTHS it would take to SELL OFF the existing supply of homes on the market, in Toms River, at this rate, if NONE were to come on the market!

*These averages include Single Family Homes from the beach communities of Ortley, Normandy and Ocean, etc.

May, 2009, saw 46 Single Family Homes CLOSE in Toms River, as compared with 73 in May of 2008. Of those 46 homes, 11 were in the price range of $200,000 to $250,000 (22%). Combined with the CLOSINGS from the First Quarter of 2009, this represents an INCREASE in SALES of 17%, in this particular price range, over the same time last year!