Title Wise
The New Jersey Real Estate News You Can Use
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Greetings!
Month-to-month home sale activity is primarily stable. Inventory replenishment is slow but fortunately it is moving in a positive direction. Single-family homes in New Jersey are still spending only 34 days on market. The Days-n-Market (DOM) statistic in New Jersey runs anywhere from 41 days in Salem 32 days, 38 days in Morris, 38 days in Monmouth and 35 days in Ocean. Nationally, home prices have increased from 2020 to 2021 by 15.4% year-over-year. But in New Jersey that number is about double - 29.6% - year-over-year. The market remains very hot, and interest rates are keeping this fire burning.
Please feel free to email me at ralph@counsellorstitle.com if you have any questions or would like to follow up on any of this edition's articles.
Ralph Aponte
Founder & President
732.914.1400
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Home Prices Surging to New Highs
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Home prices increased from 2020 to 2021 by 15.4% year-over-year. In New Jersey that number is about double - 29.6% - year-over-year. The forecast is dramatically different for the next 12 months…and could differ based upon the specific market. North Carolina, Texas and Tennessee appear to have built up demand for a number of factors such as industries shifting operations. The 2.3% price increase month-to-month does reflect the May figures that were compiled, showing single-family home prices increased by over 20% statewide. New Jersey recorded its highest ever increase of 29.6% year-over-year, with the inventory of homes falling by 11,000 or 39% from 27,624 to 16,966.
Granted, sales of single-family homes ricocheted by 19.2% to 11,168 – but supply is put at just two months (with the traditional supply being six months).
“First-time buyers are hitting a wall in many places around the country as the pace of home price rises outpace the benefits of lower borrowing costs. Younger and first-time buyers, including younger millennials, are faced with the challenge of having sufficient savings for a down payment, closing costs and cash reserves.” Frank Martell, President and CEO of CoreLogic.
Three out of the five top markets at risk for home price decline were in the Connecticut region, and New York State showed the lowest year-over-year appreciation of between 3% and 6%.
On the other hand, Fox Business is quoted saying, “According to Zillow, U.S. home values have increased 11.6% over the past year, and are expected to rise by roughly as much over the summer months and the coming year.”
What can we take away from all of the commentary? Well, I don’t believe that we will see another 28% year-over-year increase. Buyers will continue their search for a property, but the frenzy of bids will calm down to maybe a handful. People are tossing the idea around that there may be a burst to the bubble, but I don’t think that is going to happen unless the economy takes a severe dip or some unexpected event occurs.
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Power Tip: A Name Can Be a Game-Changer |
One of the most powerful weapons in a marketing toolbox is a person's name. When a person hears their name, it causes a chemical reaction. Hormones such as dopamine and serotonin are released, especially if it's followed by some form of affirmation.
Speaking someone's name can produce such subliminal signals as trust, empathy, and well-being to the subconscious brain.
Still, when we remember a person's name, it is the sweetest and most important sound in their language. Andrew Carnegie suggests that during the course of a conversation, dropping the person's name in the middle of the discussion will increase the amount of trust and empathy on their behalf. Stating a person's name in the middle of a rebuke or correction can produce high levels of distrust and anxiety, which releases hormones such as cortisone. When a person hears their name being spoken in a good context, it activates certain areas in the brain including the middle frontal cortex, the middle and the superior temporal cortex.
The Use of a Person's Name
1. It activates the person's attention. When a person hears their name, it arrests their focus, hearing and body position.
Instead of using an impersonal salutation, such as sir, ma'am or miss, using the person's name telegraphs that you know them and are listening to them.
Using a person's first name is a game-changer!
2. Teach or explain. If you are trying to explain something to another person or teach them, reading their name in the middle of the explanation does a whole lot more when it comes to their information retention. This is a good technique to use if you're actually making a presentation, and during the presentation you mention a person by name. Not only will they listen more intently, but everyone else will be aware that this is information that is useful to that person as well as to them.
By saying their name, you make a point of telegraphing to their brains that you are speaking to them, not speaking at them.
3. By salting a conversation with the name of a person, you reinforce trust and how the relationship is a safe place.
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Warren Buffett's 6
6 Rules to Life
1. Know that your only competition is who you were yesterday
2. Earn, save and invest before you spend
3. Avoid negative people, life is too short
4. If you don't go after what you want, you'll never get it
5. See failure as a beginning, not an end
6. Our habits decide our future
# # #
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Monmouth County Fair
Wednesday - Sunday July 21-25
Schedule
Wednesday-Friday, July 21-23 from 4-11 p.m.
Saturday, July 24 from 11 a.m.-11 p.m.
Sunday, July 25 from 11 a.m.-6 p.m.
Thursday, July 22 from 4-11 p.m.
■ $25 Ride Wristbands
■ Deep Cut Bonsai Society from 6-10 p.m. in the Home & Garden Tent
■ Victorian Games (ongoing) in the Living History Tent
■ Shore Thing from 8-8:45 p.m. & 9:15-10 p.m. on the Main Stage
Friday, July 23 from 4-11 p.m.
■ $30 Ride Wristbands
■ Flowers Woodcutting Demonstration (ongoing) in the Living History Tent
■ Gardeners’ Day in the Home & Garden Tent
■ Table Loom Demonstration presented by the Shore Fiber Arts Guild from 6–10 p.m. in the Home & Garden Tent
■ After the Reign from 8:30-9:15 p.m. & 9:30–10:15 p.m. on the Main Stage
Saturday, July 24 from 11 a.m.-11 p.m.
■ $30 Ride Wristbands
■ Farm Stand Selling Jersey Fresh Produce in the Agriculture Tent
■ Horse show 4-H Horsemanship Demonstration from 11 a.m.-1 p.m.
■ Yosi & The Superdads from 4:15-5 p.m. on the Main Stage
■ Wahoo Medicine Show and Phydeaux’s Flying Flea Circus from 4-8 p.m. in the Living History Tent
■ Remember Jones and The Motor City Revue from 8:30-10 p.m. on the Main Stage
Sunday, July 25 from 11 a.m.-6 p.m.
■ $25 Ride Wristbands
■ 4-H Horsemanship Demonstration from 11 a.m.-12 p.m.
■ The Last Whippoorwill from 12-12:45 p.m. & 2-2:45 p.m. on the Main Stage
■ Chorus of the Atlantic from 1-3 p.m. in the Living History Tent
■ Clown Parade at 4 p.m.
■ Yosi & The Superdads from 4:15-5 p.m. on the Main Stage
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Lessons in Leadership with Ira Robbins, President & CEO, Valley Bank |
Get This Month's Free Rental Planner Spreadsheet |
Rental Income Planner in Excel Spreadsheet
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A.S.A.P. Attorney Settlement Assistance Program
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Our real estate secretarial services are able to assist you in every aspect of the sale, purchase, refinance or loan closing process. We will directly communicate with all the parties involved in the transaction and coordinate and obtain all the items necessary to bring the matter to closing.
Our ASAP services can be individually customized to fit your needs. These services include:
- Documentation Preparation
- Disbursement of Funds
- Attendance at Closing
- HUD Preparation or
- Post-Closing Matters
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Our Commitment to Excellence |
Counsellors Title Agency wants to thank you for the opportunity to work with you and your clients to grow your business. Please feel free to click the link above or here to leave us a review on Google. We appreciate your business. |
Sales: Leading NJ title insurance agency seeks experienced licensed salespersons to help expand its market share throughout the entire state. Benefits include health insurance, 401k with an employer match, flexible spending account, expense account, & marketing support. Send resumes by fax: 732-914-8898 or ralph@counsellorstitle.com
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Free Online Title Insurance Calculator |
Counsellors Title Agency announced its updated Title Calculator for New Jersey home purchases & refinances at: Title Calculator
Loan officers, real estate agents and home buyers can find out how much title insurance will cost for purchases made in New Jersey.
Easy-To-Use Functionality
This online tool includes many of the endorsements involved in calculating the cost of a title policy in New Jersey. CTA's Title Calculator is a great tool for real estate salespersons, loan officers, attorneys and those who are buying or refinancing their home.
It calculates the cost of title insurance based upon the purchase price of the home, the loan amount, and the various endorsements that can accompany the loan. The calculator provides the user the scalability of selecting the various endorsements involved in the transaction.
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Handy Guide to Real Estate Sources |
Here are some of the most widely used governmental websites for the real estate industry.
I look forward to being of service to you, providing you with outstanding real-time information and some humor to make doing business a pleasure.
Sincerely,
Ralph
Ralph Aponte
Counsellors Title
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Counsellors Title Agency, Inc. specializes in providing title insurance, title search services and loan closing services serving attorneys, Realtors, banks and various mortgage companies throughout the State of New Jersey. CTA offers full search and insurance capabilities within all 21 counties of New Jersey for commercial, residential and new construction purchases in our Toms River, Freehold, Chatham, and Union locations.
CTA is equipped with the latest digital technologies to ensure a complete and timely transaction.
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Mr. Ralph Aponte
Our Office: 504 Hooper Avenue,
Toms River, NJ 08753
Phone Number: (732) 914-1400
Fax: 732-914-8898
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