With less than 3 weeks for "First Time Home-Buyers" to MAKE SURE they are able to take advantage of the $8,000 tax credit, it behooves me to share this video:

In order to ensure they CLOSE on their new home before the deadline of December 1, 2009, "First Time Home-Buyers" must allow 45 to 60 days for the morgage process; which only allows for 3 to 5 weeks to find and secure a contract on their home!

So...why are so many buyers still sitting on the fence?

1. Many believe the government will extend the deadline based on rumor, inuendo and misinformation.
2. Many believe they can get a better deal by waiting until the last minute.
3. And many are SCARED to DEATH!

Truth is:

As it stands today, "First Time Home-Buyers" MUST CLOSE on their home BEFORE December 1, 2009!

By waiting, they risk not only losing out on the tax credit but losing out on the home of their dreams as well!

FEAR translates as False Expectations Appearing Real! To my knowledge, "Buying a Home" is NOT the leading cause of death for any demographic...

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:

5. 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.

6. 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.

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.