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Benjamin Franklin once stated,  ”Without continued growth and progress, such words as improvement, acheivement and success have no meaning.

Coldwell Banker NRT Development Advisors would like to welcome the following new sales associates:

Kelli Meier

Tracy Dowdell

Valerie Swails

Happy Holidays

From the NRTDA family to yours

 As the holiday season begins, we’d like to take this opportunity to thank you for your continued partnership.

In 2010 NRT Development Advisors made national news for its sales milestones, received high acclaims for unique marketing tactics and increased its team of sales professionals, and we have you – our clients and partners – to thank for our continued success.

May your holiday season and the New Year be filled with much joy and happiness. We look forward to working with you in the coming year and continuing a successful business relationship.

Fannie Mae predicted that national Q4 new home sales absorption would increase by 38,000 units over Q3 levels, representing a 13% quarter-over-quarter increase. Considering NRT Development Advisors represented the #1 and #2 condominium properties for sales volume closed during Q3 (which were 1010 Midtown and 10 Terminus, respectively, according to SmartNumbers), our clients are in for a holiday treat in Q4! So far in the fourth quarter, many of our condominium clients are experiencing double digit contrats per month. And our Florida markets have experienced the same success. One of our Orlando communities, Mosaic at Millenia, has had more than 70 sales in Q4 already.

How did we do it? NRT Development Advisors’ agents mapped out very targeted initiatives, including:

 • Revisiting existing customer databases

• Reaching out to the top coop agents at each community

• Updating all prospect action plans

• Networking with colleagues

• Reanalyzing pricing and positioning

And Q4 still isn’t over. Our agents are diligently working with the many homebuyers who are looking to close before the end of the year, taking advantage of the Homestead Exemption, low interest rates and unbelievable value.

Robert L. Stevenson once stated, “Don’t judge each day by the harvest you reap, but by the seeds you plant.” Coldwell Banker NRT Development Advisors is excited to welcome two new sales associates – Corey Sayre and Sean Britts. We look forward to the seeds you will be planting at NRTDA!

By: Collin Ellingson

In the current real estate environment, it often seems that homebuyers are focused on one thing, and one thing only: PRICE.   Your clients and customers are more data-focused and analytical than ever before after reading articles about the local market and national economy, poring over the infinite number of real estate websites, and listening to the industry experts on the myriad of television news programs available twenty-four hours a day.

This is why professional salespeople must master the facts:  about their listing, its competition, and the local, regional, and national economic and political environment, as these all factor into the psychological propensity for a client to make a buying decision.  However, all of the above routes of information gathering serve as a means to answer one central question: “When is it safe to jump in the water and buy a home?”

 In general, people must still believe in the long-term economic viability and emotional value of homeownership.  If they didn’t, then why would people even bother to look, and spend an entire Saturday or Sunday doing so?  

 Contrary to typical seasonality, real estate agents are still seeing robust weekly traffic numbers at many new home communities.  Why?  Because there are excellent reasons to purchase now:  record low interest rates, excellent inventory, and amazing values to name a few.  And, people still believe in homeownership!

At the heart of everything lies the inherent human desire to find a comfortable place of shelter, a safe haven from the world, and a place to share with friends and family.  As Phoebe Chongchua points out in her article “Why Buy A Home”, homeownership provides long-term stability and security.  It means never wondering when a landlord might decide to sell and force an unwanted move.  It means customizing and decorating to reflect one’s personality.  Ownership provides a feeling of community and belonging which can’t be matched by renting.

So, help your customers satisfy both sides of the homebuying equation, and become their trusted navigator.  Show them a home which they want at a value which will rationalize the decision to say “yes”, and you will be creating satisfied homeowners.

By: Christine Macrenaris

If you are like many first time homebuyers, you are excited and eager to purchase your first home.  Yet, your funds are somewhat limited, as you are just starting out. How do you calculate how much to spend on your first home?

One key calculation utilized by lenders is your debt-to-income ratio.  Lenders use this ratio to determine how much mortgage debt you can handle and, consequently, the maximum loan amount you will be offered.  This ratio is based on how much personal debt you carry, (including auto loans, student loans and minimum credit card payments) in relation to how much you earn, or your gross income.

To determine this ratio, you’ll need to do a little math.

1.     First, determine your monthly gross income. Remember, your gross monthly income is the before-taxes total earnings from the month, not how much money you actually take home after paying taxes, social security and other deductions.  Multiple your monthly gross income by .36, which will give you the monthly debt payment number that experts have identified.

2.     Next, add up all your family’s fixed monthly debt expenses, such as car payments, your minimum credit card payments, student loans and any other regular debt payments.

3.     Then, subtract the second number (your fixed monthly debt expenses) from the first (your debt payment number) to determine the maximum mortgage payment you can make per month. Keep in mind that this number includes private mortgage insurance, homeowner’s insurance and property taxes.

To determine the price of home you can afford based on this amount, use an online home affordability calculator.

Finally, in addition to the above calculations, sit down and go over your monthly budget and make sure you feel very comfortable with your estimated monthly mortgage payment.  If your mortgage payment needs to be lower to give you flexibility in your budget, reduce it accordingly.

By: Christine Macrenaris

When searching for a new home, finding the right house is often the buyer’s primary concern. But while locating that perfect house is certainly a key component, the neighborhood in which the house is situated is equally important.  Buyers should ask themselves the questions in this podcast before buying property in any area:

1. Have I visited this neighborhood more than once? If the answer is “no,” then you should make at least two additional visits to the neighborhood, each at different times of day.  You may find that traffic at 8:00 a.m. in that area is unbearable, or that at 9:00 p.m. on Fridays the next-door neighbor plays electric guitar with is rock band in the backyard.  Be sure to get to know the neighborhood at different times of day.
2. Have I talked with any of the other residents in the area? Again, if the answer is “no,” then be sure to chat with a prospective neighbor soon!  Talking with the locals will help you to understand their likes and their dislikes or concerns about the neighborhood.
3. Have I researched the schools, hospitals, healthcare facilities, parks and local law enforcement? As a homebuyer, you should know how the prospective school district performs, which healthcare facilities are available and where the local service providers and parks are located. If everything checks out to your satisfaction, great!  If not, you may need to assess your values and make a decision as to whether the neighborhood will meet your needs.
4. Have I reviewed the local crime statistics? When considering any neighborhood, it’s important to consider your personal safety and the safety of your family. In most cases, local crime statistics can be accessed online through the police department’s Website.  Otherwise, call the local police station and ask to view a copy of the city or town’s most recent crime report.  If you have questions about the report, talk with the local law enforcement officials and they will assist you with interpreting the report and answer any questions you may have.
5. Can I picture myself and my family living here? Does the neighborhood offer the restaurants, retailers, entertainment complexes and sports facilities that you and your family enjoys?  If not, can you live without them?  It’s critical that your future neighborhood suit your way of life, so be sure you can imagine yourself living and thriving there.

By: Judy Price

Buying a home is likely to be one of the biggest purchases you’ll make in your lifetime. As you move forward with your search for the perfect home, keep some key points in mind to avoid any of the ten biggest home buying mistakes:

1. Failing to set a budget. It is important to take the time to calculate how much you can afford by looking at your monthly expenses and talking with a qualified lender.  Getting pre-approved will save you time as you will know what you can afford and view only the homes that are in your price range.
2. Waiting for the market to “bottom out.” No one can predict precisely when the market will “bottom out.”  Historically low home prices and interest rates make it a buyer’s market out there right now.  If you are financially and emotionally ready to be a homeowner, now is a great time to begin your search for the right home. By buying, you can start building equity, getting tax deductions and enjoying the many other benefits of home ownership.
3. Falling in love at first sight. Even if you love the first home you see, you should compare at least three other homes to be sure that you’re getting the best home for the best price.  Taking the time to compare will help ensure that your chosen home is “the one” and you’ll be less likely to experience buyer’s remorse.
4. Not checking out the neighborhood. The house may be perfect, but if it isn’t situated in a neighborhood you’ll enjoy, you will be unhappy with your choice.  Make sure you choose a neighborhood that suits your lifestyle.  It’s wise to visit the neighborhood a few different times, at different times of day in order to get a feel for the area and make sure it suits you.
5. Making an offer without contingencies. Make sure you have a “back-up plan” in place in your contract. If the home has an irresolvable problem, does not appraise for the purchase price, or if your loan falls through, having contingencies on your contract gives you the ability to cancel the transaction.
6. Glossing over the fine print. You can request copies of many of your closing documents in advance, and you should!  Then, you can have your trusted real estate attorney review the paperwork and discuss it with you so that there are no surprises at closing time.
7. Forgoing a home inspection. Check that house out from top to bottom!  It is critical to hire a professional home inspector who will take the time to inspect the house from top to bottom, inside and out.  The inspector may find minor issues that you can request the seller fix before purchase.  If the inspector finds major problems, you will want to consider the correction costs and, if some cases, reconsider the purchase.
8. Hiring the wrong agent. Identifying an agent who is knowledgeable, communicates clearly and understands your needs is essential to the home buying process.  Make sure that your agent is very familiar with your area of interest and the price range you’re looking for.
9. Thinking short-term. You may adore the home now, but will you love it in five years?  It’s wise to think about the future and envision what you will want and need down the road.  Also, think about how the home might sell in the future – what is its likely re-sale value?
10. Forgetting closing costs. Closing costs can run from 2 to 5 percent of the home’s purchase price.  To avoid an unpleasant surprise on closing day, do not forget to include these costs in your calculations for the purchase of your home.

Keeping these ten mistakes in mind during your search will help you to buy with confidence.