Sales MeetingWeek of October 12, 2009

Welcome!

Birthdays

• Buffy O’Brien 10/12

New Listings

• Sharon Grenard 110 South St. Unit 309 Bedminster $1,400,000

• Mary Horn 71 Overlook Rd. Morris Twp. $689,000

• Karen Stohr 21 Stevens Ct. Bedminster $299,900

• Jane Asdal 68 Independence Way Morris Twp. $629,000

• Alice Samach 3 Blachley CI Mendham $5,125,000

• Carla/Gina 40 Georgian Rd. Morristown $799,000

• Carla/Gina 5 Hilltop Rd. Mendham $769,000

• Jane Asdal 57 Raynor Rd. Morristown $519,000

• Carla/Gina 530 Jockey Hollow Rd. Morristown $775,00

Absolutely! Can do!

Total Units for

October

Jane Asdal-1 Georgene Bennett-1 Michele Cascelli-1

Ryan Dawson-3 Tom Goodrich-3 Mary Horn-1

Buffy O’Brien-1Karen Stohr-1

Price Improvements

Street Town Original Price Price Reduction New Price Date

51 Spring Brook Rd. Morris Township $899,000 $150,000 $749,000 9/14/2009

89 Taft Ln. Morristown $445,000 $20,000 $425,000 9/18/2009

6 Fischer Pl. Morristown $569,900 $40,000 $529,900 9/28/2009

394 South St. Morristown $415,000 $30,000 $385,000 9/28/2009

17-324 Aspen Ct. Stanhope $279,900 $10,000 $269,900 10/1/2009

51 Mt. Kemble Ave. Morristown $348,000 $15,000 $333,000 10/5/2009

16 Baker Rd. Livingston $639,000 $40,000 $599,000 10/6/2009

50 Crystal Spring Rd. Hamburg $345,000 $10,000 $335,000 10/6/2009

46 Laura Ln. New Vernon $3,495,000 $305,000 $3,190,000 10/7/2009

6 Altamont Ct. Morristown $275,000 $10,000 $265,000 10/7/2009

Open House Report

• 124 Church St. Bernards Twp. Janet Appelbaum Sun 10/18• 4004 Riddle Ct. Bedminster Tom Goodrich Sun 10/18• 6 Fisher Whippany Heather Bello Sun 10/18• 51 Spring Brook Morris Twp. Mary Horn Sun 10/18• 3 Longwood Morris Twp. Mary Horn Sat 10/17• 8 Quaker Hill Rd. Randolph Ryan Dawson Sat 10/17• 131 Mt. Arlington Rd. Roxbury Pam Pavely Sat 10/10

• 3 Longwood Morris Twp. Mary Horn Sun 10/18• 8 Quaker Hill Rd. Randolph Ryan Dawson Sun 10/18• 131 Mt. Arlington Rd. Roxbury Pam Pavely Sun 10/18

Congratulations!

Let’s see who has earned Jimmy Bucks for sales activities they’ve done since last week.

What Can You Do Withthe Jimmy Bucks You Earn?

Each one you earn represents a chance

to win cool prizes such as …

Digital Cameras

GPS

Flip Video Cameras

Facebook 201 webinar participants will learn:

• The difference between a Facebook profile, page and group.

• Advanced tips and strategies for generating business leads and referrals.

Thursday, Oct. 22, at 3:00 p.m.

Register Today forFacebook 201 Webinar

Seller Optimism Causing Price Climb

•Daily Real Estate News  |  October 12, 2009  |   Share

• Seller Optimism Causing Price Climb Despite the recent market decline, Americans are still willing to borrow a large amount of money to buy a home because they are convinced that housing values will rise, writes Robert J. Shiller in his monthly New York Times column.

Shiller, professor of economics and finance at Yale University and cofounder and chief economist of MacroMarkets, examined survey data that asked home buyers in Los Angeles, San Francisco, Milwaukee, and Boston a variety of questions, including how much they believe the value of their homes will change in the next year.

The average answer among the 311 people surveyed was an increase of 11.2 percent. The media response was 5 percent, which Shiller also believes is high.

Such upbeat answers about the housing market led Shiller to conclude that home buyers think the decline in home prices is over and now is the time to buy. Their optimism, Shiller says, has caused an upturn in prices.

Shiller has doubts that this increase signals a new housing boom. Instead, he says it is evidence of “higher short-run price volatility,” which is economist-speak for a warning that prices could go down again.

Source: The New York Times, Robert J. Shiller (10/11/2009)

Company News

First-Time Homebuyer Credit Notice

• Now through Nov. 30, a First-Time Homebuyer Credit Notice should be presented by Sales Associates to all first-time buyers at the time of writing an offer.

• This will ensure that these customers understand the terms and conditions of the tax credit and the upcoming deadline.

• The First-Time Homebuyer Credit Notice must be signed by the buyer and Sales Associate, and turned in to the Processing Manager, who will keep the form and other transaction-related paperwork on file.

Help Us Recruit Successful Agents

If you know any successful real estate agents who work for another company, now is the time to talk to them about switching to Weichert.

Recruiting Incentive Program

We Will Thank You for Your Help

As long as your recruit earned $40,000 or more in gross commission income in 2008

and has their license processed by Weichert’s Licensing department by Dec.

31, 2009, you can earn $5,000 for helping them join the company.

Get Started Today!

1. Get in touch with your contact to see if they’d be interested in joining Weichert.

2. Reach out to the manager of the closest sales office to see if they would like to meet with the agent.

3. Fill out a referral form with information about you and your recruit, and provide it to the office’s sales manager.

4. Set up a face-to-face meeting with the manager and the recruit, and remain involved in the recruitment process.

5. If your recruit joins the Weichert sales office and has their license processed by Dec. 31, 2009, you will receive $5,000 within 10 days of their hire.

Market Confidence Meter

• The Mortgage Bankers Association said its index of mortgage application volume rose 16.4 percent for the week ended Oct. 2.

• The Labor Department reported that new claims for jobless benefits fell to the lowest level since early January.

Processing Manager's Update

• Last Friday I received notice that two of our escrow checks were being returned because the date on the check exceeded 30 days.  I have not had this happen before and I have to suspect that the escrow department is tightening up on adherence to already existing guidelines that have not necessarily been enforced.  What this means to you is that checks must be deposited into the escrow accounts in a timely fashion.

• I realize that a lot of you do not wish to go through the agonizing task of getting escrow monies back should a deal fall through, not make it through attorney reviews or home inspections, but that is what a binder is for.

• I’ve discussed this practice with you before, but for those who are not familiar with what a binder is I will explain.

• A binder is defined as a sum of money paid to evidence good faith until a transaction is finalized. Our binder contract can be considered an agreement to protect the buyer’s right to purchase until the inspections are complete or the binder contract can be considered a means to submit escrow funds under the guise that there is a contract signed by both parties and the buyer has the option to buy but can receive a full refund of the deposit if the contract does not become fully executed.

• The first section of the binder specifies the buyer and seller, and describes the property being sold.  This initial deposit is payable to Weichert Realtors.  The second part of the binder is completed confirming an executed contract or fall through prior to executed contract or disbursement is required prior to executed contract i.e. to the attorney.  A simple escrow release of binder is than submitted with out the requirement for attorney letters or anyone’s first born son.

• There are strict laws regarding how long we can hold on to checks and it appears our escrow department is now enforcing existing policy.  Going to your client a month or more after they have written a check and asking them for a new one is embarrassing.

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Update

NovemberSuggested Monthly iMail Cards

• November Suggested iMail Cards– These are the recommended iMail cards

to choose for the month of November.– See your PMC or visit weichertimail.com

for more options.

Put Weichert iMail to work for you!

NovemberSuggested Monthly iMail Cards

Highlight your personal Web site and a Just Listed or Just Sold property.

Agent Website Card

• New 8.5 x 11” fold-over format has room to highlight neighborhood activity and a featured listing.

• Pricing starts at $.61 per card.

NovemberSuggested Monthly iMail Cards

NEW! Neighborhood Update Mailed Flyer

NovemberSuggested Monthly iMail Cards

Custom Message W20:

The best fall colors are yellow and red.

Among the many signs of fall, one of the most satisfying is the yellow and red Weichert sold sign. If you'd like to see one soon, call and ask me about putting your house up for sale now.

WRSEA220

Seasonal Card

Just Listed and Just Sold cards are also a great choice for farming. Show them you

get results!

*Note: Information for the postcard provided by the sales associate from the local MLS.Only Weichert listings can be used on Just Listed cards.

NovemberSuggested Monthly iMail Cards

Office Events

With Randolph, Mendham, and Morristown WestOctober 29, 20094:00-7:00Shumgum Lake Club HouseMore Information to Come

Caravan Information