Carolynn Ozar-Diakon

What to expect in 2010

2010-01-09T18:40:00Z

What to expect in the market in 2010.

I saw the market pick up in the second half of 2009, and consumer confidence increase. In September we saw our luxury listings moving more quickly and with bidding situations occurring. Although prices will remain flat in many markets, we may see a slight increase in pricing in this area due to low supply of well priced homes. Buyers are most definitely value driven and are watching the market closely. Top areas, both resort and with easy access to major cities will be the first to recover, as indeed they were the last to fall. I believe we are cruising along the bottom, and although I believe there are still short sales and foreclosures in all price ranges still to occur, we have started to witness the end of the freefall and there will be more stability in housing for 2010.Sellers should be cautious not to jump for joy too high with their asking prices. Value pricing will be their best asset.

GREAT NEWS

New Jersey shows a 55% increase for October 2009 over October of 2008 in home sales. Interest rates remain low, homes are lower than they have been in years and there are bargains to be had.

Washington, December 01, 2009 Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®.

Q. Is it worth putting my house on the market now over the holidays, or should I just wait for the Spring?

A. I recommend going ahead for several reasons. We only know what the market is doing, not what might be coming. We know right now that we have the best interest rates in memory. We also know that buyers that are out looking over the various holidays are generally more motivated, and your property could be sold with less showings. Less inventory around this time can help with the price also, and all homes show better look better with pretty holiday decorating.

Carolynn Ozar-Diakon
Broker Owner

Good News For Real Estate Market

2009-09-24T16:09:00Z

I am excited to share great news...August continued to show a rise in the amount of homes sold in Monmouth County. For the past few months we have experienced more sales than the same time frame from previous years. August was amazing and not typical for August. Despite what many people think, the busiest Fall month is usually October.

I am encouraged by the increased sales for several reasons, it is an indicator of the buyer confidence level and shows that it is price driven. As long as sellers continue to price their homes for the market that we have and not for the markets of 05/06 we are going to continue to move homes through October. I have experienced in the past when we see an abnomally in terms of the month, it generally continues for several months and in past years have given us brisk holiday sales. Thanksgiving and on.

RESOURCES brings top dollar for Monmouth County homes.

I am also very excited to share with you that August was a special month for us also. We made it into the top ten real estate companies in Monmouth County again. Alongside multi-office companies, Resources with our one specialized boutique office also had the top dollar amount for under contract homes for August in that top ten by far!! Showing once again that bigger is not better. Our dedication to service and marketing is exceptional and produces exceptional results for our clients.

Market Update

2009-07-22T23:18:00Z

RESOURCES Real Estate Newsletter July 2009 "How's the market"? As you can imagine, that is the question that I get asked the most. On my website I have a market report section that is updated every quarter. Click on your town on the right hand side bar for your updated report. If your town is not included- email us and we will send one to you. You may be surprised to note that in Rumson,for instance, the price ranges that are currently selling the most are $500,000 - $600,000 and over...(read more)

Are we stimulated yet? The RESOURCES market report

2009-03-05T16:54:00Z

Am I the only person that believes that stimulus must come through good business practices? The gritting of teeth through the hard times, cutting back, tightening the belt, batting down the hatches and other metaphors for "hanging in there till its over". Speaking specifically of the real estate market, lower prices means better deals for buyers, and despite what the media would have you believe there is money out there. A prospective buyer can borrow money.

With all my years and experience is real estate, I am still baffled by the phenomenon of families rushing to buy homes at top prices and beating each other out of the way by increasing their offers, during the upswing of the market. I personally prefer to buy in times of lowered prices and low interest rates, when there is more to choose from and less people making offers. Sellers often think "well I have to sell my house first to buy another". YEP, The good news is that the houses that are higher in price have come down even more - creating a lower spread for you to cover.

What about the seller that is not necessarily buying up, maybe downsizing or moving out of the area completely. Well your options are very similar. First you have to put your house on the market at the RIGHT price. What is the right price? Well if your neighbors have their house on the market and it has not sold, you already know what the price is not!. The right price is the price the one that will get you an offer so that you can go shopping. With that offer, you now know what you have to work with and can make offers on other homes. If your property is priced right - you will get multiple offers. I hear a "hmm" of doubt. I beg to differ. When a home is priced to sell, more than one person will notice and will often drive the offers up, it creates the excitement of value. This is still happening in our office.

Now the seller can go shopping with an actual number. Sellers that are attached to a "number" will probably not benefit from the negotiability of other homes on the market. They will not get that opportunity to go make valid offers, as they are in the pack waiting with the rest of the homes that have not sold.

We are all impacted by the media, yet we forget that newspaper readership is down over 50% and the headline has to knock your socks of to read it. On line publications are competing tooth and nail for your attention. If we are all going to hell in a hand basket, I am going own as much real estate as I can. History shows that those who own real estate will come out ahead. Not to mention - I can live in it, rent it out, or barter with it. The problem is not real estate it is the money. Not the lack of supply, but the over borrowing - because we think we deserve a new car every year, a new outfit for every occasion and that our kids should have every conceivable piece of electronic equipment they can name. Not to mention we are raising a nation of couch potatoes. We cannot think that every time we over borrow for "things" that we think we deserve we are putting ourselves further in debt. When the dollar is worth less and less, I hope you have as much real estate as you can hold onto, and a little gold never hurts!

I keep making offers on properties that I am able to buy cheap with low interest rates that I rent out and hold onto either until the next big upswing - maybe 10 years (who knows) or maybe until I am too old to take care of them and my kids can inherit. If anyone is afraid of buying a home - keep in mind - you could have bought a home in the '70's for $60,000, same home in the 80's $300,000, same home in the '90's for $700,000 that you could sell now for say $2.5M Maybe it was worth $3M last year, still a good investment and maybe it will be worth $7M in five years. Smart investors should always buy low, and really smart investors also know that the only way to absolutely know the bottom of the market is when it is making the turn. You know, when prices start going back up! That is generally when the interest rates go up also. My advice. unless you can pinpoint the exact moment when the market hits bottom, which sellers will be the most motivated (not all have to sell) and what the interest rates what will be, go ahead and jump in and buy the home you want. Our website http://www.resourcesrealestate.com/2008_Market_Report/page_2160633.html gives you a complete history of 2007 and 2008. Below is a year to date market view. If your town is not included - let me know and I can do that for you. Or click on your town below to sign up for ongoing market reports for your town

. ATLANTIC HIGHLANDS, COLTS NECK, FAIR HAVEN, HOLMDEL, LITTLE SILVER, MIDDLETOWN, MONMOUTH BEACH, OCEANPORT,

RED BANK, RUMSON

If you want to know exactly how much a particular home sold for visit nosy neighbor on resourcesrealestate.com

In these times of economic uncertainty people do cut back on charitable giving, and I would like to give a gentle reminder that it is exactly these times that they need us the most. Please visit www.monmouthsocialcalendar.com to see what events are coming up and to donate directly. Shout out to several charities that are close to my heart. Monmouth County Historical Association. Monmouth County Mental Health Association, Prevention First and 180 Turning Lives Around.

We have so many wonderful events coming up and I would like to remind everyone of the Derby Ball on May 1st and we have the wonderful VNA Show house opening soon. Many talented designers, landscape designers, decorators and decorative arts professionals put a lot of time into making the events special.

One such person is Karen Siciliano, co-owner and VP of Siciliano Landscape which was founded 70 years ago by her grandfather. She came on board after 9/11 after 18 years as a bond trader on Wall St, she felt the pull of hearth and home and she came back to her "roots" in the landscape industry. Not only was she successful on Wall Street, she has channeled her business acumen and energy into her landscape business. In four years, she tripled the size of the business. Siciliano Landscape Company provides both design, installation and maintenance. Karen is a reflection of the good people in Monmouth County, and she shows her social conscience through all her good works. Involved not only with the Visiting Nurse Association show house, she is on the board of trustees for Monmouth Medical Center Foundation and even funded an exam room at the Valerie Fund Children's center for Cancer and Blood Disorders. Thank you Karen.

I have a couple of openings for new agent training. Believe it or not, good agents still make money, and it I personally train each agent, and continue with workshops and personal coaching. If you are interested give me a call in the office 732-212-0440 or look on our website on the career in real estate page.

If you have an interest in old homes, we do have older home specialists; myself and Tom McCormack. Take a look at some beautiful older homes for sale.

Thanks for taking the time to read my blog.

Carolynn

Out with 2008...in with 2009.

2009-01-12T20:20:00Z

Well, we as leave an eventful 2008 that was filled with breakdowns, bailouts and the bear chasing the bull out of town, keep in mind - this too shall pass.

To be honest, as an area we did prove more resilient than many others. Our local banks have not disappeared into the night. In fact, several of them have reported not even one foreclosure. Why? Nothing amazingly clever, just making sure that the borrower has a job, an income that is accurate and an appraisal that is not based on speculative future value.

Despite what many large newspapers would have you believe, this area cannot be compared to national averages and statistics. While, of course, we are impacted by the national economy and the global meltdowns, we are very much a local market. In fact a much sought after area , due in large part to our proximity to Manhattan, ease of commute, good schools and the pure beauty of Monmouth County. I have compiled market reports for local towns, which are available here. These are updated to the end of November and will be updated within a day or so.so keep checking back. View your town here.

All this does not mean that it has not been a tough year for some. Those people who lost their jobs, or a large part of their stock portfolio find it hard to take comfort in the fact that that our real estate market average has fared better than many other areas. Economic downturns also create stress in the home, contributing to more divorce.

In my 23 years in real estate, I have worked with many such clients and know that stress can compromise decision making. I can GUARANTEE that your property will sell, if you listen and take my advice. Too often, a client on a knee jerk reactions stops listening to good advice and grabs at straws that invariably cost them time and money. I am only as good as my client will allow. I have seen clients completely ignore sound advice and judgment then make mistakes that I know will result in a mess. It is as painful to watch as it is for the client to experience.

If the added pressure takes on a toll on the marriage and it becomes a divorce issue, a client's hearing can often get impaired - blocked by the loud sound of additional emotional stress.

In my experience, a lot of money is wasted that could be netted out of the equity in the property by expecting the divorce attorney's to do the realtor's job. I have been referred by many divorce attorneys, and even judges in court ordered cases, to help with this situation, as it can quickly become out of hand. An experienced, calm and professional realtor is needed. Sometimes one spouse may not want to sell the home, despite it not being financially possible to keep it. A swift sale with both parties to move on with their lives is cheaper and and far less stressful than fighting over an asset that has become a symbol of the conflict, rather than an comingled asset.The buying public will smell the distress quickly and that will impact the value in a negative way. For divorce attorney and divorce mediation professionals, or for a market analysis please email me at carolynn@resourcesrealestate.com for a completely confidential appointment.

On the Brighter side.................

I personally think that we will see an increase in home sales in 2009, driven by lowered real estate prices, low interest rates and pent up demand from the last few years. So, if you are thinking of selling take heart, listen to good real estate advice and take the plunge.
If buying - the opportunity has never been better for all of the above reasons. Close your eyes take a breath and jump.... Come on in the water is fine.

RESOURCES Real Estate

112 East River Rd
Rumson, New Jersey 07760

732-212-0440
www.resourcesrealesate.com
www.carolynndiakon.com

My Blog

To comment on any portion of this newsletter it is posted on my blog on www.resourcesrealestate.com or www.carolynndiakon.com.

Regards,

Carolynn

Not always what it seems...

2008-10-15T16:51:00Z

Article featured in the Monmouth Journal- September 5, 2008

Just heard on the 6pm news that the cute dolphins entertaining us from the river banks of Rumson and Middletown in the Navesink river - are in fact,not dolphins but more likely bull sharks. Huh? Now that must come as a surprise to all those that went out on boats, including kayaks and canoes to get up close and personal with the dolphins!! My family took the "Resourceful" out to watch them cavort, and oohed and ahhed with the best of them.

It made me think a little about the local real estate market, (well lets face it, I am always thinking about the real estate market) and I saw a mini parallel. How you ask?

Well, it seems to me that buyers right now do not realize they are behaving like dolphins when they could be bull sharks. Not that I know much about bull sharks, but they just sound more assertive. In a buyer's market, buyers make low offers and pretty much have plenty to choose from. This buyer's market is not working that way. Many prospective buyers are sitting and waiting - rather than taking action,making offers and see what comes back.The opportunities are out there to be eaten up. Motivated sellers, low interest rates. Sounds like the perfect feeding ground. However right now, many buyers' appear to be acting more like cute dolphins than like sharks of any description. I don't think there are any sharks that take a wait and see approach, especially not bull sharks, unless there are bear sharks?!

Is it the constant media bashing that the real estate market got in the last few years that makes us view a home as purely a financial investment and pressures us to buy right at the bottom? When is right at the bottom? I have been a realtor for over 20 years and to date nobody has ever been able to predict the date of the absolute peak or the absolute bottom. What is known, is that real estate has perpetually cycled, always on the down or the up cycle. Historically it always cycles back up higher than it was before. Some real estate analysts are saying that the end of the downward cycle is close.

As it is impossible to perfectly time the market the average person buying or selling will gain on one end of the transaction to offset the other. Which is important to remember that generally it balances out. Although it is weighted on the side of the upward buyer. Speculators and investors with a shorter horizon are acting now, which is another indicator that now is the time to act. I have been making offers on investment properties recently, some I won some I lost. Real Estate is obviously a large part of my portfolio and especially my retirement, although those that know me, find it hard to believe that I would ever retire!!

There have been other indicators recently that the market is about to start its upswing. On a national level, existing home sales rose 15% in recent months, new home sales were also up 4.5%. Consumer confidence up 5 points in August over July.

Affluent homeowners increasingly are bullish about future real estate values. “Key findings from the annual survey of the ‘luxury’ market demonstrate that the typical million-dollar homeowner is invested not only in the value of their home as a current part of their portfolios, but also see long-term gains coming from this investment,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate LLC. The survey polled 305 U.S. homes with a primary residence valued at $1 million ($2 million in California) or more and who had investable assets of more than $1 million. The average annual household income of this group was $754,000.

Jim Weichert was also quoted recently stating that "We have reached the bottom of the housing market and will soon begin to see improvements, by and large we are turning a corner. You might be guessing, but we are sure. Now is the time to buy real estate."
I think Jim is right, the Summer is always slow except for closings of properties sold in the Spring. Buyers, sellers and the realtors are focused on the beach and vacations. Once mid September rolls around I believe we will see a positive upswing.
Speaking of other agencies. At a dinner party recently, one guest was surprised to hear me say something positive about another agent, his assumption being that we are all sworn enemies. Nothing could be further from the truth, we all work in cooperation with each other, and I treat my fellow realtors with respect and I get treated the same way. In fact, I have made a point in getting along with other realtors in my career, it can only help my clients. I want the the other realtors out there to want to work with me rather than shudder at the thought. I can be firm and resolute in my representation to my clients without being rude and obnoxious. Now of course there are some out there like that, and we all know who they are! As an educated consumer one of the things to research when choosing a realtor is to find out how they are perceived in the industry. It could make or break a sale.

So lets all get bullish about real estate, there are future capital gains to be had at shark prices right now. If you are interested in statistics about any other town not shown here , please email.

In other news, I am looking for a few good men (or women). I have invested so heavily in websites in the last few years that I have an over abundance of qualified prospects coming in every day. I only hire a select few, but I am looking to expand right now, so if you want to know more about coming a professional real estate agent. Please call or email.

Carolynn Ozar-Diakon, Broker-Owner, RESOURCES Real Estate 732-212-0440 www.resourcesrealestate.com.

Moving forward in this shaky economy

2008-10-15T16:03:00Z

Featured article in the Monmouth Journal- October 3, 2008

As market experts, economists, and political pundits weigh in with their opinion of the bail out and other assorted plans to move forward, I can only hope whatever path chosen is laced with common sense.

Any fool should known that prices do not go up forever and that interest rates do not come down indefinitely. The real estate market is not a ball-it does not "bounce back" or plunge in a matter of days. It quietly and reliably cycles up around and down again and so on. In fact it is always in the process of one or the other. It is probably the best and most consistent long term investment strategy there is. I am not a stock market investor, I am a real estate investor, and I can tell you with certainty that I am looking to buy. I am making offers and buying what I can that meets my criteria.

I have never been an investor in the stock market, mainly because I do not understand it will enough and my expertise and interest has always been in real estate. Sometimes, I have felt a little dumb not being a savvy stock market player, but in the last few days- I have been feeling pretty smart!

I have been a broker for over 20 years and managed an office during the tough times of the late 80s, I have seen this happen before. I have some advice for both sellers and potential buyers.

To sellers: We have been cycling down since the second have of 2005, and yet many sellers have been valiantly trying to achieve 04 and 05 pricing. It is not going to happen, it was not going to happen last week and it sure is not going to happen next week. If your agent has not been firmly telling you what to do...and is in the yes-ing you to death business: Get a new agent. Now is not the time for the weak. Tough times call for tough agents.\

Conversely, if you have a tough agent, you are receiving ongoing communication and you know that truthfully there is nothing that the agent is not doing...don't jump ship from one agency to another. Sit down with your agent and the broker and discuss options and ideas. Frankly, agencies spend a lot of money on marketing a property and jumping ship-if you are not following their advice-it is definitely not going to help. If the price is not right, it will not be right with another agency. If the house does not show well, it will not show well with another agency. Same thing with showing...now is not the time to be coy; buyers are in shorter supply they have more to look at. Make sure you can get them in your property without any obstacles. Such as, "try back tomorrow, 24 hr notice, pick up key from office" etc. Get as showing friendly as possible. Is it inconvenient? YEP. It is a necessary inconvenience if you want to sell your house. Your tough agent should be telling you that.

To Buyers: Don't overlook this opportunity that is on our hands: low interest and lowering prices. Don't try to calculate the bottom, it could be tomorrow-it could be 6 months from now. Whenever it is, it will be irrelevant if the interest rates have gone up! I have noticed that the Fed did not lower interest rates as a response to the financial news this week. The Fed will not lower them forever. In fact, during previous recessions the interest rates have gone up. Use this time to make great deals, like the investors are. Just remember that on the whole-real estate is a long term investment, and when it is also a short-term investment-that's a beautiful thing. Don't buy above your means, don't borrow based on tomorrow's pay check. There is more to choose from today than in previous years, and there ARE lenders that are willing to lend money. Not every bank forgot the common sense practice of making smart loans to qualified buyers.

In summary, whether a buyer or a seller, be smart, use some common sense and a tough agent who will negotiate on your behalf. Now is not the time for timidity, and is definitely not the time for inexperience or less than a full time commitment from your real estate professional.

Carolynn Ozar-Diakon

Broker/Owner, RESOURCES Real Estate

Email: carolynn@resourcesrealestate.com