Real Estate Blog for Millburn/Short Hills, Maplewood, Summit, Livingston, Chatham NJ

Sue's interview w/ Dave Jenks on "Shift" - Tactic #6, Catching People In Your Web

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Sun, 14 Dec 2008 00:03:00 +0000

Last month I was interviewed by Dave Jenks, head of research and development of Keller Williams International, for "Shift", Gary Keller's new book for the real estate community, about "how top agents tackle tough times. Its not about the market. Its about what you do."

Below is the link to my interview on Tactic #6, Catching People In Your Web.

http://www.millionairesystems.com/msys/BBB.html

Trying To Make Sense of Today's Mortgage Guidelines for NJ Home Purchases and Refinances

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Thu, 04 Dec 2008 06:34:00 +0000

Take the Fear Out of Mortgage Financing

by Drew McKenzie

Trying to make sense out of mortgage guidelines today can make your head hurt.

My advice is to avoid the aspirin, do not make assumptions, do NOT read the dramatic press.

Interest rates are the lowest they've been in 3 years and true opportunities exist, so make sure you communicate your specific circumstances to your mortgage broker early in the process. There has never been a better opportunity for buying a home.

A few recent changes to be aware of in order to manage your expectations:

• Several banks now realize that they were overly enthusiastic about approving credit lines. As these banks try to reduce their risk exposure, some homeowners are getting notifications that their line of credit has been reduced or even cancelled. Banks are concerned about what your home is worth and about your ability to verify your income, credit and assets.

• Investors are very concerned about the future of certain industries and the future of the continuance of Bonus and Commission income. In the past, such income was averaged for 2 years for qualifications; don’t assume the same is true today. Best to get this checked out BEFORE starting your home search.

• Buyers no longer have the option to have two mortgages at closing (i.e. 80/10/10 loan) to avoid paying Private Mortgage Insurance (PMI) or avoiding a certain loan amount for lower rates. For mortgages of $500,000 or less (depending on the investor) and less than 20% down payment, guidelines now require PMI. Your mortgage application now needs approval by the Lender and the PMI provider.

• Mortgages greater than $500,000, with most Lenders, now require at least a 20% down payment.

• Bridge loans are extinct today. Investors are not allowing most borrowers to close on their new purchase without closing on the sale of their current home. This means either you get a larger mortgage if you have the down payment in the bank, or plan to close on the sale of your current home the same day as the purchase of your new property. Either way, you should sell your current home before purchasing another one. It makes you a stronger buyer in the seller's eyes too.
Renting your current home without selling it and buying another primary property is scrutinized unless you have at least 30% equity in the home you will lease.

• For refinancing, you need to have at least 20% equity today based on today’s bank appraisal. There are now 40 year mortgages and Interest-Only payment loans, which could assist with lowering your monthly payments. Your lender can help you with your options. Keep in mind, the presence of a second mortgage or line of credit (and today’s bank appraisal of your home) could impact or limit your options.

NOW FOR THE GOOD NEWS & WORDS OF ENCOURAGEMENT….

There are many worthy borrowers and there are mortgage funds available today at very low interest rates (30 year fixed today at 5.5%)! There are guideline changes but they may or may not impact you directly! Don’t assume or let the press intimidate you --- you could be a very worthy borrower who is in position to take advantage of this (housing) market and interest rates!

Sue and her team sold 7 houses in November, and financing was not an issue.

Drew McKenzie is a Senior Mortgage Consultant with Real Estate Mortgage Network with 16 years of lending experience. Please contact Drew with your questions or comments. He is licensed everywhere in the country to provide mortgage financing.
Phone: 973.271.8025
E-mail: dmckenzie@remn.com
http://www.drewmckenzie.remn.com/

Check Out NJ Traffic to and from NYC (via webcam)

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Sun, 30 Nov 2008 20:37:00 +0000

Where The Boys Are

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Fri, 21 Nov 2008 15:55:00 +0000

Where The Boys Are
By Robin Benjamin, Buyer Specialist - Sue Adler Team

In my last blog I "sang" The times they are a changin'." In this one, it's "Where The Boys Are."No, I'm not going through a mid-life crisis, or reminicing about the "good old days." While the nation debates school vouchers and the decline of public education, I'm reflecting on the kids that graduate from the Millburn/Short Hills school system. Not only has our system been rated as one of New Jersey's best, but most of our kids graduate with something that only a great educational environment can provide. Character. As a mother of two Millburn graduates - one a scholar the other a scholar/ athlete, but neither perfect - I constantly see proof of this character as I run into kids I've known for years. Good kids. Polite kids. Confident kids. And often very loyal kids.

On a recent foray into NYC to watch a football game with my youngest son, a Penn State graduate, I dreaded sitting by myself in his favorite pub. That dread soon turned to joy as one Millburn graduate after another walked in to greet me and support my son and his beloved Nittany Lions. The boys were not only from his graduating class, but from the class that graduated with his older brother. It felt like old home week, surrounded by kids displaying a loyalty and bond that was formed in the classrooms, halls and playing fields of our wonderful school system. An anomaly you say? Hardly. The next day, I found myself cheering at a Millburn soccer game. Just a few seats away were several boys, all Millburn graduates, cheering on their alma mater right along with me. Trust me, while certain parts of my body froze, sitting on those aluminum bleachers, my heart was never warmer.

While many parents worry about their kids once they leave the nest, I can tell anyone who moves to the Millburn/Short Hills area that you'll know "Where The Boys Are." They're in a good place, taking care of themselves and supporting the town and school that helped make them into the young men that they are today.

Joining me were from the class of 1995 ; Tim Milton, Josh Rossoto, Neil Smaldon, Neil Halinan, Steven Sarpi, and missing was my son Tyler, who’s living in London . We all sat together cheering on the Nittany Lions until the last 6 seconds . I was in my glory.

Sue Adler Team
#1 Keller Williams Team in NJ 2005-Present
www.SueAdlerTeam.com

The Times They Are A Changin!

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Tue, 11 Nov 2008 04:37:00 +0000

Post by Robin Benjamin - Accredited Buyer Representative - Sue Adler Team

Buyers Beware! The next time you see me, I'll be walking down the street in my Manalo Blanco’s harmonica in hand, singing The Times They Are A Changin'.
But I'm not talking about political "change." I'm talking about a change that is more subtle, yet in some ways just as important.
Home buyers want to be connected again.
Buyers of all types are looking to scale back, be closer to schools and trains, and be more connected to the community. A recent New York Times article documented the trend in an article called "Where Walkable Encounters Affordable." There is even a popular website, walkscore.com, that ranks more than 2,500 "walkable" towns near the 40 largest cities in America, and is being used by buyers and real estate professionals across the country. One of the blog entries on their site says it all,
"With gas prices going through the roof, buyers want homes closer to where they work, local stores, and public transportation. Not only are walkable homes smart investments in an age of $4 gallon gas, they're better for your waistline (people in walkable neighborhoods weigh about 7 pounds less) and they're better for the planet."
Well, I don't know whether it's the price of gas, global warming, or just wanting to get into a size 6, but a growing number of my clients in Millburn/Short Hil ls, Summit, Maplewood, South Orange, Chatham & surrounding New Jersey towns are longing for the benefits of community, and the four listings that follow are "walkable" properties especially for them.
www.sueadler.com/11PineTerraceEastShort Hills, http://www.sueadler.com/39OberlinMaplewood, http://www.sueadler.com/159Hobart ,Short Hills, and www.sueadler.com/227Tillou South Orange
The only thing my clients are probably not longing for, is seeing me strolling along in their "walkable" town, wailing out protest songs from the 60s.
Hey, at least I'll be in a size 6!

Robin Benjamin, Buyer Specialist

Have you heard about this awesome new search engine? www.LEAPFISH.com

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Thu, 06 Nov 2008 01:09:00 +0000

LeapFish is a new search engine that blows google and yahoo away! Finally, one stop shopping!

If you are to "google" or should I say "fish for" Millburn NJ Real estate, the results page will have a choice of the google, yahoo or msn interface in the middle, then along the left side, you'll see all of the videos and photos and news. Check it out and let me know what you think.

The Trophy Kids

noreply@blogger.com (robinbenjamin) — Fri, 24 Oct 2008 00:04:00 +0000

Mom and dad, get ready. You're about to be blamed for something else.
The Millennial Generation. (Where did generations X,Y and Z go?)
According to an article in the Wall Street Journal, "The Trophy Kids Grow Up: How the Millennial Generation Is Shaking Up the Workplace," kids born between 1980 and 2001 are entering the job market and causing all sorts of problems.
"Blame it on doting parents, teachers and coaches," the article states. "The Millennial's were raised with so much affirmation and positive reinforcement that they come into the workplace needy for more."
In our community of Millburn /Short Hills that can't be true. Can it?
As a mom who has lived here for 30 years, I know many kids who give back to the community, and whose hard work and balanced egos helped Millburn High School gain its #1 ranking in the recent September issue of NJ Monthly.
Ok, ok. Maybe on "one or two" occasions we hovered too much, and even gave them a trophy when they came in last. But according to a posting by Sue Shellenbarger, "Helicopter Parents: Beneficial or Detrimental?" we're not the only guilty ones. Apparently a number of historic well-known Presidents had parents who were worse than us.
So, there's still hope. And who knows? One of our Millburn/Short Hills kids may even be President some day, and we hovering "helicopter" moms might even get a little credit for getting them there.
If not, they still get a trophy, right?

Robin

http://online.wsj.com/article_email/SB122455219391652725-lMyQjAxMDI4MjI0MTUyNTEyWj.html

Get into the Groove- South Orange, Maplewood, Millburn Art Scene

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Thu, 23 Oct 2008 16:02:00 +0000

Wow! Not only do we have SOPAC in South Orange, Maplewood stock and an ongoing music series in Maplewood, but we also have Poetry readings and an original art gallery in Millburn! Not to mention the long-standing Papermill Playhouse, and NJPAC in Newark.

Things are definitely happening right here, in our back yard. Just off the center of town in Millburn exists a gem of creativity, art and unique home furnishings at the Stewart Leshe Collection . It opened just a year ago is creating a local beat unto it’s own for us all to share.

Stewart Leshé Collections is hosting a book party and poetry reading for The
Notebook Poets in celebration of their new book, "OPEN DOORS". on Saturday, October 25th, from 5pm - 7pm.
StewartLeshé Collections, LLC
105 Main Street
Millburn, NJ 07041

This post is contributed by:
Deirdre Silberman
Buyer Specialist , The Sue Adler Team
#1 Keller Williams Team in NJ 2005-2007
Cell: (973) 985-0500
Office: (973) 376-0033 X 288
Email: deirdre@sueadler.com
Website: http://www.sueadlerteam.com/ ...... the ONLY website you need for NJ Real Estate 20 minutes to 1 hour from NYC!

Wall Street Journal article on "The Trophy Kids Go to Work" - Absolutely fascinating article that I'd love your opinions on

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Thu, 23 Oct 2008 01:32:00 +0000

The following article was so interesting to me. Maybe because it makes me think of my own children and how they will be in the work force one day ( currently ages 16 and 18). As parents, we're taught that our childrens' self esteem is the most important thing and everything we have done for them was so that they would feel good about themselves which would help them in future years in life and the workforce. Has this all backfired? I would really love to hear your comments on this- from ALL generations because I think this is such an interesting topic.
Thanks,
Sue Adler
http://online.wsj.com/article_email/SB122455219391652725-lMyQjAxMDI4MjI0MTUyNTEyWj.html

Attention Homeowners! Conditions for second mortgages have changed!

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Sat, 18 Oct 2008 22:28:00 +0000

A NJ mortgage banker, Rich Hirsch, has been a tremendous wealth of information to me every step of the way through this credit crunch. I wanted to share his latest regarding Home Equity Line Of Credit :

October 17, 2008

Mortgage Master continues to be an industry leader in residential mortgage lending. We have had no disruption in 1st mortgage lending since the credit squeeze began.
Conditions for 2nd mortgages have changed.
1) 2nd mortgage lenders are re-evaluating loans by reviewing your home value.
2) If a bank re-values lower, they can freeze your 2nd mortgage (aka equity line).
3) You DO NOT have to pay it back. It is simply frozen and can not be further utilized/drawn up.
a If you’ve drawn 300k on a 500k line then that’s it—no more allowed.
b If you’ve a 500k line with NOTHING drawn a bank may freeze the ENTIRE line. Nothing allowed.
If you have a line of credit and it is NOT in use.
1) Call your lender. Confirm it is available.
2) Consult your financial planner. Prime is at 4.5% In advance of a potential line freeze, drawing some or all of the line may be useful—i.e.: if college expenses are near or a retirement strategy or another large cash event is close.
a Be aware the prime rate changes. If you can not repay the cost of debt or are scared of fluctuating rates, the above is NOT the plan for you.
3) Call Me. We might refinance your 1st mortgage loan. We will close the 2nd, but give you cash out from the 1st. We can offer fixed rates—no worries about fluctuations.
4) We can work in conjunction with your financial planner to look at either option.
If your line is FROZEN:
1) You can refute the bank assessed value of your New Jersey home.
2) I suggest you contact me. I know the approved appraisers for many banks. I can have a local independent appraiser asses the value. If proved higher your line can be made available.
a If not, we can evaluate your needs and determine if a refinance is an option.
3) I’m here to help you work with the equity in your home.
It is critical to stay informed. Call me for accurate answers about 1st or 2nd loans.
Thank you in advance for your time and consideration.

Regards,
Rich Hirsch
Mortgage Banker
Office: 908-410-9066

Sue's Thoughts On Our NJ Real Estate Market

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Sat, 11 Oct 2008 04:55:00 +0000

We’re all in this together.

In these uncertain times, I’d like to share my thoughts and address concerns you may have about our local real estate market in Short Hills, Summit, Maplewood, Livingston, Chatham and surrounding NJ towns. I’ve included links to interesting articles that you may find helpful and of course I’m available if you’d like to discuss your own personal needs confidentially.

1. Foreclosures, and Pre-Foreclosures: There have been laws put in place to help people who need to sell with upside down mortgages. Three recent Real Estate laws that every homeowner, buyer or seller should be aware of

2. Life Goes On….. Our towns are the first really beautiful towns with excellent public schools off of the midtown direct train line into NYC, and Manhattanites who don’t want to pay for private school, want a yard and some more space will still move out to the suburbs. We don’t have an endless supply of inventory like other parts of the country, so even in tough times, there is still a demand for great houses in great locations (as long as they are priced competitively). Buying a home is a long term investment.

3. If you’re currently renting, can put 20% or more down, have stellar credit, and a steady job, you’re golden.

4. Move-Up Buyers are in a great position because if the market has dropped 10% in a given town, then the loss you’re taking on the sell side will be less than what you’re saving on the buy side.

5. Sell First. This way, if you’re counting on a certain amount of equity from your current home, you won’t have any surprises. For a long term investment, it may even make sense to rent out your current house and hold onto it as an investment. We can discuss your options.

6. Current Home Owners with ARM mortgages: You may want to call your mortgage company to discuss fixed r ate options.

7. I'm happy to send the pdfs for the following articles: "Taking The Mystery Out Of Credit", Top 10 Do's and "Don'ts During The Loan Process", and "How Good Credit Transfers Into Lower Scores"

Yours to count on,

Sue

Sue Adler

#1 Keller Williams Agent in New Jersey 2005, 2006, 2007

#5 Keller Williams "Individual" Agent Nationwide 2007 (out of 75,000)Over 900 Homes Sold!

Cell: (973)464-9129 (call first)

Office: (973)376-0033 ext 101

E-fax: (480)247-4891

Email: Sue@SueAdler.com

Website: www.SueAdler.com...... the ONLY real estate website you need for NJ real estate 20 minutes to an hour from NYC!

NJ Monthly's 2008 School Rankings

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Sun, 31 Aug 2008 21:54:00 +0000

NJ Monthly's Top New Jersey Schools for 2008 (out of 316 Schools)

And The Winner Is.......Millburn High School!
Click here to read article.

Other Top Ranked Local New Jersey Schools Mentioned:
#4 Mountain Lakes
#5 Glen Ridge
#10 Chatham
#15 Governor Livingston (Berkley Heights)
#17 New Providence
#20 Livingston
#22 Summit
#24 Ridge ( Bernards Twp- Basking Ridge)
#27 Westfield
#29 Cranford
#35 Madison
#36 Bernards ( Bernardsville)
#38 West Morris Mendham
#48 Essex ( North Caldwell, Essex Fells)
#49 Watchung Regional
#53 Verona
#57 James Caldwell ( West Caldwell)

For the entire 2007 NJ School Report Card, click here.

For School Comparisons, click here.

Feel Free to call me at 973-464-9129 if you have any questions or email me at sue@sueadler.com
http://www.adlerbenjamin.com/ , The ONLY real estate website you need for Millburn, Short Hills, Summit, Maplewood, South Orange, Livingston, Chatham, Madison, Mendham, Basking Ridge, Montclair, Westfield and surrounding New Jersey Towns.

March 2008 Home Sale Prices & Stats for NJ's hottest towns 20 minutes to an hour from NYC!

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Sun, 20 Apr 2008 16:23:00 +0000

For March 2008 Home Sale Prices , Market Stats and Comparisions Back to 2005, Click on the following New Jersey towns of your choice:

Millburn/Short Hills
Maplewood & South Orange
Summit
Livingston
Chatham
Madison
Montclair & Glen Ridge
Mendham & Harding
Basking Ridge
West Orange
Westfield

If you'd like to receive the updated home sale stats monthly, just sign up at http://www.adlerbenjamin.com/.

My Listings

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Why You Should Purchase "Your-Child's-Name.Com" NOW!!

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Fri, 21 Mar 2008 00:56:00 +0000

WHY YOU SHOULD PURCHASE "YOUR-CHILD'S-NAME.COM " NOW!!
Years ago when I purchased www.SueAdler.com ( before any of the other Sue Adlers out there), I also purchased my daughters' names for future use. Daryl, my oldest daughter, is now a senior at Millburn ( she'd probably kill me if she knew I was writing this!) . Because she's an artist, we created a website www.DarylSeitchik.com with her "art gallery" to use for college applications. For every email she wrote to colleges, she attached a link to her site. A few admissions officers even commented on her artwork before she submitted her portfolio to the schools. We don't know how her younger sister Abby will use her domain name yet, but its ready when she is.

Another advantage to owning your name is that you can use that domain for email. This is an advantage because you're no longer tied to a specific email provider such verizon, comcast or even gmail. More importantly, if you're using your email for business, Sally@SallySmith.com sounds more professional than SallySmith@gmail.com .

My point is, if you wait to purchase your-child's-name.com, the other Sally Smith in Alaska will have probably already grabbed it if she hasn't already . Besides, its really CHEAP! You can purchase domains at www.GoDaddy.com for only $9.49/year for 10 years.

So Excited!

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Fri, 15 Feb 2008 02:49:00 +0000

PRESS RELEASE THAT MY OFFICE IS SENDING OUT.....

Sue Adler Receives National Recognition at Keller Williams Realty International Award's Ceremony

Summit, NJ. At Keller Williams International’s annual Awards Ceremony this past week, Sue Adler was called to the stage at the Atlanta Convention Center to receive a “Top Performing Individual” Award for the 5th highest dollar volume production out of 75,000 Realtors in Keller Williams International for 2007.

Sue also was one of the few Realtors in the area to receive the highest level NJ Circle of Excellence Platinum Award for 2007, and Esourceagent.com ranked her #35 in the top 100 real estate internet marketers nationwide for internet web visibility. She is the only New Jersey realtor to appear on this list.

“In 2002 Sue remarried and moved with her daughters Daryl & Abby Seitchik to Short Hills from Blue Bell, PA, a Philadelphia suburb, where she had been the #2 Remax Agent in Pennsylvania. In 2004, she was “Sue who?” helping to open a company called “Keller who?” and in only 3 1/2 years has become a household name in real estate as one of the top agents in the Garden State MLS, as well as the # 1 Keller Williams Agent in our 100+ agent office, the entire New York Region, and now #5 internationally.” says Deborah Meckbach, Managing Broker of Keller Williams Realty. “Sue's tremendous success can be directly attributed to the type of person she is - ethical, professional and enthusiastic. Sue always seeks innovative ways to grow her business and provide outstanding service to her clients. Her optimism and "can do" attitude make her stand out from the crowd. She is a true asset to our company and her clients.”

Temporary Increase in Conforming Loan Limits- How will this affect your purchase in our Midtown Direct Train Line towns.....

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Fri, 08 Feb 2008 18:50:00 +0000

Hi Everyone,

Hold onto your hats! I'm getting flooded with emails from mortgage companies with this great news. See below.

Temporary Increase in Conforming Loan Limits

The stimulus package will provide for a temporary increase for the GSEs conforming loan limits to match the new levels established for the FHA. Currently Fannie Mae and Freddie Mac are only able to purchase loans under $417,000. Loans with balances above that limit have fewer buyers and are significantly more expensive and difficult to finance.

Even when financial institutions are willing to make these loans, because there is no secondary market for them, they cannot sell the loans and fund new ones. By permitting the GSEs to buy these loans, this change would provide vital liquidity to mortgage markets where funds are currently unavailable or limited.

************

The President has not yet signed the bill, but that seems likely from everything we’re hearing. The loan limits are being increased to 125% of the area’s median home price (but not to exceed $729,750). Restrictions, regional limits and actual implementation has yet to be resolved.

How does this affect buyers for Maplewood, South Orange, Millburn, Short Hills, Summit, Chatham, Madison, Livingston, Montclair and surrounding New Jersey towns????

Assuming Excellent Credit and 80 LTV the spread on a 30 year fixed conforming to non conforming can range from .625% to a 1.00%. difference. The spread is less on the ARM’s. a 10/1 conforming to non conforming . The range is a .375% - .500% difference.

Rates are fantastic right now.

Most JUMBO ARMS are priced in the low to mid 5%
A rate that exists one day may be different the next.
Mortgage Rates vs. Federal Reserve Cuts

When the Fed cuts the discount rate or fed funds rates these are vehicles banks use for overnight lending. In general banks follow suit to also lower the Prime Rate (currently 6%).
Mortgage rates tend to follow the 10yr Treasury Bond, not fed funds or discount rate or prime.
The lower the bond yield the lower mortgage rates.
PRE rate cuts the bond was 4.33. NOW it is 3.65%.
Mortgage markets price in a fed move in advance.
Current bond environment is highly volatile intra day---each earning report/bond auction/ etc can move the market
Conforming loan limit increase

1) FNMA and FHLMC will be allowed to buy loans worth as much as $729,750 for loans made between July 31, 2007 and Dec. 31, 2008. The FHA will also be allowed to insure loans up to $729,750 in high cost markets.

2) Details on restrictions, regional limits, and the actual implementation have yet to be resolved and the President needs to SIGN the bill! (729k is the MAX based on 125% of median sales price in area)

3) I will alert you when the bill is signed in to law and when all details and pricing are available.

Yours to count on,

Sue Adler
www.SueAdler.com

Top 100 Real Estate Internet Marketers- 2007

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Sun, 30 Dec 2007 04:51:00 +0000

Esource agent.com Announces
TOP 100 Internet Marketers Nationwide 2007
Individual Real Estate Agents Ranked By Web Visibility

I'm happy to announce that I've been named #35 on the top 100 list. See email I just received. For the record, I have no affiliation with esourceagent.

Dear Sue ,

Your website has made the 2007 Top 100 Internet Marketers for real estate agents nationwide. eSourceAgent.com, an online marketing company with a real estate focus, did extensive research and ranked agents websites based on web visibility. Your ranking of #35 means you understand the power of the internet and are using it effectively to build your client base and new streams of revenue.
“This ranking is an honor in a competitive field,” says Mark Sprenger, President of eSource Marketing. “Online real estate marketing is tough and ranking in the Top 100 Internet Marketers in the nation is truly an honor.”
To find out more about how eSourceAgent determined your ranking log on to www.esourceagent.com/Top100/Top100.asp.
eSourceAgent will also contact your local Association of Realtors and your local media to notify them about this honor.
Congratulations on this award! Your online marketing efforts in 2007 have paid off.

Sincerely,
David Freitas
Director, Web Marketing
esourceagent.com

Time Sensitive Message for Home Sellers in Millburn/Short Hills, Summit, Maplewood/South Orange, Livingston or surrounding New Jersey towns

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Sat, 27 Oct 2007 01:34:00 +0000

Millburn High School Named National Blue Ribbon School

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Wed, 03 Oct 2007 03:35:00 +0000

Congratulations to the Students, Parents & Faculty of Millburn High School for being named a National Blue Ribbon School for 2007!

Fire at Short Hills Hilton - 300 Evacuated

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Wed, 29 Aug 2007 19:18:00 +0000

Latest news about Short Hills from http://www.nj.com/ ....

"About 300 guests and employees were evacuated from the Hilton Hotel in Short Hills for more than two hours today after clothes inside a commercial dryer caught fire, sending smoke and an odor into several floors, authorities said.
No one was injured, but the 10-story hotel on JFK Parkway was emptied at about 4:15 p.m., said Battalion Chief Robert Echavarria of the Millburn fire department. Everyone was allowed to return shortly after 6:30 p.m.
The fire was confined to the dryer on the ground floor, but smoke spread through the ground floor and mezzanine. An odor was detectable up to the seventh floor, the battalion chief said.
Two hotel employees were directed to emergency crews, but the workers refused medical attention."

Hiring A Real Estate Lawyer in NJ: Your Advocate or Your Deal Killer?

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Wed, 29 Aug 2007 04:12:00 +0000

Hiring A Real Estate Lawyer in NJ: Your advocate or Your deal killer?

In New Jersey, when a contract to purchase a home is signed, it is not binding, until it's out of "attorney review". What this means to a buyer is that another buyer can come along and outbid you during this period. And to sellers, it means that your neighbor's house with the new gourmet kitchen can come on the market and lure away your buyer. This is why its in the best interest of all parties to hire competent REAL ESTATE attorneys who will protect their interests with protective clauses, and at the same time get them out of attorney review quickly.

Sounds simple, right? Well, if you follow this advice, you will be protected, and also have a much smoother transaction.

1. Hire a recommended LOCAL REAL ESTATE attorney, Notice I didn't just say attorney. They should ONLY be practicing real estate law. A local lawyer will know what's customary. If you're purchasing in Short Hills, Summit, Chatham, Maplewood and other towns in our area, they will know when to add a clause in about an oil tank sweep. They'll know which areas have had flooding issues. They've dealt with zoning,permits in Millburn, Summit or Maplewood town halls and are familiar with the local home inspectors and their reports. They know who to call for asbestos removal, and they know reputation of different builders, etc.... I have 4 real estate attorneys who I work with on a regular basis who really know their stuff. Email me & I'll pass along those names. Its not a bad idea to interview a few attorneys before choosing one to see who's style works best for you.

2. Before hiring the attorney, find out if he/she will be going on vacation any time during the next few weeks or if he/she has anything going on which will affect availability. NOT Returning phone calls & not responding to attorney review letters in a timely manner is one of my biggest pet peeves. I know that the lawyers I work with on a regular basis will NOT put my files under the pile on their desk. You need to feel confident that the attorney you choose will be available to you.

3. Inspection "Requests" or Inspection "Demands".... Make sure you approve the attorney's letters before they go out. I have found that when I'm trying to get through inspection issues with my buyer, sometimes the attorney "inspection demand" letters (which I would prefer to call "inspection requests") are worded so strongly, that it immediately puts the seller's in a defensive mode. When I bought my house in New Jersey ( after having sold real estate for many years in Philly, where we handled everything ourselves and rarely used attorneys), I used the attorney recommended by a friend, instead of one recommended by my realtor. Big mistake. She shot off letters without my approval, and when I read the harsh sounding "inspection demands" letter, I found myself calling the sellers and apologizing for the threatening tone of the letter. Afterall, didn't our parents teach us that you catch more flies with honey?

Over the years I have categorized real estate attorneys into 4 types:

First: "My way or we kill the deal",

Second: " I'll fight for whatever my client wants no matter how unreasonable the request may be, and NOT advise him. I'm my client's puppet."

Third: "I don't have the time to be bothered with returning calls. I'm too busy.
Oh, closing is tomorrow? Oops, I forgot to order the mortgage payoff. "

Fourth:" I am my client's advocate, and at the same time, it is my job to advise my client on what is reasonable. If I can't get anywhere with the other lawyer ( who is type 1,2 or 3), I'll have my clients work it out through the realtors. The smoothest transactions are when we are all working together to resolve the issues in a timely manner.

Which type of attorney would you like to represent you?

Sue Adler is the #1 Keller Williams agent in New Jersey, specializing in towns with 20-50 minutes from NYC. Visit www.SueAdler.com , the ONLY real estate site you need for New Jersey real estate.

Work in NYC? 10 Reasons why you should commute from New Jersey.

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Fri, 24 Aug 2007 01:07:00 +0000

10 Reasons why you should move from Manhattan to our awesome New Jersey towns....

1. NJ Transit- Midtown Direct Train gets you into New York Penn Station in 20-40 minutes from South Orange, Maplewood, Millburn, Short Hills, Summit, Chatham & Madison, in that order on the line, and 45 minutes to an hour if you head out towards Morristown, or Basking Ridge. If you click on link above, you will see parking options whether you live in one of these towns or one of the surrounding towns. Need to commute to downtown to the financial district? Just take the train to Hoboken, and then the path or ferry.

Oh, did I mention that there is valet parking at the Millburn train station, and that there is a jitney bus to get you to and from the Maplewood & South Orange train stations during morning and evening rush hours?

2. We have great public schools! 2007 New Jersey School Report Card

3. Our towns are absolutely charming and beautiful. They are SO not like the New Jersey stereotype. Each town has its own personality(and different sections within each town do as well), and you'll find that living here you will frequent all of the surrounding towns for different things from shops to restaurants to theatre to fitness centers to art, piano or karate lessons.

Virtual Tour of Millburn & Short Hills

Virtual Town Tour of Maplewood & South Orange

Virtual Town Tour of Summit

Virtual Town Tour of Chatham

4. There are very active Newcomers Clubs in each of our towns. A great way to meet other newcomers & put the "bourbon back in suburban" is to attend the Octoberfest or Spring Formal. My husband and I STILL go to the monthly wine tastings at the Millburn/Short Hills Newcomers Club because we've made so many new friends at this event. Newcomers Club Sample Activities, Activities with Children

5. We have lots of Golf Courses in New Jersey . Prefer tennis instead? There is the Racquet's Club in Short Hills or the Orange Lawn Tennis Club in South Orange. You can join for tennis or just get the social membership. There are always tons of activities going on. But the cherry on the top is- each of our towns has its own town pool, a relatively inexpensive and popular option.

6. Contrary to Manhattan real estate, in New Jersey, we have a Multiple Listing Service (MLS), so ONE realtor can show you all of the listings in the Garden State MLS. http://www.garden-state-listings.com/

7. Cars today have navigation systems, so you can wander around our beautiful winding tree-lined streets and not get lost if you move here.

8. We have beautiful parks, arboretums, the South Mountain & Watchung Reservations, and local dog parks in Millburn and Livingston. You can go to Millburn Deli and stroll through their parking lot into Taylor park to eat, and relax to a concert or movie in the park as well during the summer.

9. We have a variety of great restaurants!

Scalini Fedeli in Chatham, La Focaccia or Fiorino in Summit and Bascilico in Millburn are my favorites for Italian. For Asian/Thai food, I recommend Toro or Thai Chef in Montclair, Khun Thai in Millburn or Monster Sushi in Summit. The new Roots Steak house in Summit is really great ( reserve early!), and for Happy Hour, join us at Winberries in Summit every Thursday night. Or head over to Toro Loco in South Orange. If you would like to add your favorite restaurants to this post, please comment!

10. You are not, I repeat... ARE NOT... allowed to pump your own gas in New Jersey. Is that great or what?!?

2nd Annual Client Appreciation Party

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Wed, 15 Aug 2007 04:10:00 +0000

Thank you to my clients-turned-friends who made it out to my second annual client appreciation party last week!

This years bash was at Restaurant MC in Millburn and we had a great turn out and lots of fun. I got to introduce neighbors to each other ( yes, Levys & Greenbergs who live 3 doors away and hadn't met!), and I loved catching up with everyone I hadn't seen in a while. Whenever I take a buyer out, I always say " Oh, you should meet so and so who just moved here. I know you'd be friends!" So, to show my appreciation for my clients, once a year, I throw a party to introduce them to other clients who also just moved to the area. I kind of have my own newcomers club, I guess. Anyway, it was fun. Can't wait til next year's party!

Why you should get a FULL loan approval and not just a PRE-approval prior to purchasing a home

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Sat, 28 Jul 2007 01:18:00 +0000

Steve Lupton, our in house mortgage broker, just sent this letter out to the agents in our office. I thought it was worth sharing:

"The past few months have been challenging for our credit markets. The intense media coverage of recent events has made us all somewhat aware that our industry landscape is changing. Headlines like: sub prime mess, credit crunch, housing bubble and the like are daily fare on TV. Erratic credit markets driven by emotion and fear are impacting our industry’s ability to conduct business. Let’s take a look at some issues and some solutions. Remember, the greatest opportunities in any business come at times like these.

The sub prime mortgage mess has spilled over into all mortgage products. Investors who provide the capital necessary for the housing industry have little or no appetite for collateralized debt obligations (or pools of mortgages). In this declining investment market, the only certainty is that these investment portfolios will be worth less tomorrow than they are today. In an effort to reduce their exposure to the declining market, investors will stop buying new issues and look to unload what they own. They have a unique outlet when “unloading”, aside from merely selling at a loss. If they can find ANY deficiency in a mortgage agreement, they can insist that the originator of the mortgage buy it back. The intensity of the scrutiny of mortgage originations is unparalleled in this industry. Six months ago a mortgage application with a debt ratio 20 points over suggested guidelines was perfectly acceptable. Today a mortgage .000001 out of range doesn’t work. There is zero tolerance for any loan application that doesn’t comply with underwriting guidelines because originators like me cannot give investors the option of forcing me to repurchase loans. Therefore, you cannot assume that ANY borrower is immune from this scrutiny. There is no such thing as a “slam dunk” approval today from any mortgage bank. All mortgage banks are dealing with this phenomenon. Deserving credit profiles will be approved, but under a much more powerful microscope.

Let’s talk about some solutions. You have the good fortune of working in an agency with an in-house mortgage banking department. Please take full advantage. Going forward you should make use of this resource for your client’s benefit and your benefit. You should always get your client Fully Approved before you begin to shop for a home. With an underwriter’s Full Approval you will: 1. know that you can close the deal. 2. Have a leg up on the competition who isn’t Fully Approved. 3. Make your client essentially a cash buyer. 4. Give your client the extra time needed to comply with the meticulous application process.

I will Fully Approve all of your clients at no cost and no obligation. They are encouraged to do their due diligence for mortgage terms and conditions. I am simply responding to today’s realities in an effort to give your clients the best home buying experience in the industry."

Steve Lupton
Metrocities Mortgage
Senior Loan Officer
(908) 522-6500

Update on the market for Essex, Union & Morris Counties

noreply@blogger.com (Sue Adler, Keller Williams Realty) — Mon, 19 Feb 2007 18:22:00 +0000

Update on our market... Jeffrey Otteau had predicted that our area would recover more quickly than outlying areas because of the proximity to NYC and excellent school systems. I saw the change start at Thanksgiving and its continued ever since. We're seeing multiple bids for homes, but only when they're priced well, and we're not seeing CRAZY multiple bid situations like we did in 04 & 05, except for rare instances, like one in the South Mountain section of Millburn that was so drastically underpriced that it brought in 14 offers and went over $125,000 above asking, but that's not the norm anymore.

Every home I have listed since November has sold after the first weekend on the market, including one that was sitting for 6 months with another realtor before I listed it. This house was really contemporary inside and presented itself that way in the photos with their previous realtor. I had my contractors & stagers "de-contemporarized" it, including renting furniture to make it show better. The new online photos brought in a ton of showings, and the realtors in the area were amazed at the transformation. I also got the price to a realistic number. Staging, pricing , & how its presented on-line makes the difference.

So, I'm happy to report that year to date my team has sold 22 homes already (7 closed, 15 under contract). I'm very low on active listing inventory so please recommend me to anyone you know thinking of selling their home. I PROMISE to do a great job for them. Thanks!

Enjoy the rest of your President's Weekend!

Sue