GUARDIAN HOUR OF POWER TO COVER FEDERAL TAX LIENS

SEPTEMBER’S GUARDIAN HOUR OF POWER SEMINAR
WILL COVER ‘UNDERSTANDING A FEDERAL TAX LIEN’

For more information, contact
Drew Whipple at 856-985-9007
or awhipple@goguardianinsurance.com

EVESHAM (Sept. 11) – Real estate and tax attorney Timothy McGinn will be the featured speaker at the next “Guardian Hour of Power Lunch Seminar” sponsored by Guardian Settlement Agents to be held on Wednesday, September 25.

McGinn, managing member of McNally & McGinn, LLC, which provides real estate-related legal services to Guardian Settlement Agents in northern and central New Jersey, will give the presentation “Understanding a Federal Tax Lien.”

The seminar, sponsored by Guardian Settlement Agents, one of New Jersey’s leading title agencies serving all of the state’s 21 counties, will begin at 12 p.m. noon, Wednesday, September 25 at Guardian’s South Jersey headquarters at 1000 Lincoln Drive East, Suite Two, in Marlton (08053). Lunch will be served and there is no charge to attend.

To register for the Guardian Hour of Power seminar, contact Drew Whipple at 856-985-9007 or awhipple@goguardianinsurance.com.

“We have worked with Tim for a number of years and he has provided excellent legal services to our clients in a number of difficult situations,” said Guardian CEO Christopher J. Brown. “It’s important for buyers and sellers of property, as well as the real estate professionals they are working with, to know what a federal tax lien is and how they can best work with the government to get them lifted.

“This seminar is part of our ongoing Guardian Settlement program to provide useful and topical information to real estate agents, mortgage brokers, builders and others in the business of buying and selling homes,” Brown said. “The more knowledgeable we all are, the better service we can provide to our customers.”

In “Understanding a Federal Tax Lien,” McGinn will outline the formal process through which the federal government must go to attach a lien to a property. He also will explain the different ways a property owner can have the lien released or can work with the government to either continue to do business or to live in the home if it is a residential lien.

He also will explain how a lien can affect property owners in such areas as seizure of assets — including the accounts receivable of a business, the ability to secure credit and whether or not a declaration of bankruptcy will help clear the lien.

A graduate of Rutgers University and Seton Hall University Law School, Tim McGinn is a member of the United States Tax Court as well as the bar associations of New Jersey and New York. His professional affiliations include the American Society of Tax Problem Solvers, the National Society of Tax Professionals and the Tax Problem Resolution Services Coalition. McNally & McGinn has offices in Somerville, Somerset County, and Rumson, Monmouth County.

The October “Guardian Hour of Power” seminar will be held on the second Wednesday of the month, the 9th, and the topic will be announced at the September seminar.

Guardian Settlement Agents has offices in both Burlington County – at 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 (Phone: 856-985-9007, Fax: 856-985-9977) – and Somerset County – at 54 Grove Street, Suite 3 & 4, Somerville, NJ 08876 (Phone: 908-575-9995, Fax: 908-575-9996). Both offices are on the web at www.goguardianinsurance.com.

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RE/MAX Connection Realtors accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. RE/MAX Connection Realtors is providing this transmission for informational purposes only. Any views or opinions presented in this email/blog do not necessarily represent those of the company.

The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

RE/MAX Connection Realtors, 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 www.goconnectionnj.com.

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GUARDIAN SEMINAR TO PRESENT LEGISLATIVE UPDATES

GUARDIAN SETTLEMENT SEMINAR
TO PRESENT LEGISLATIVE UPDATES

For more information, contact
Robert McNally at (908) 575-9995
or at rmcnally@goguardianinsurance.com

SOMERVILLE (August 27) – An outlook of the New Jersey real estate economy and a comprehensive briefing on related legislative and regulatory issues will be the focus of the next “Guardian Hour of Power Seminar” being held on Wednesday, September 18.

Two top executives from the New Jersey Association of Realtors – Douglas M. Tomson, Director of Government Affairs, and Jarrod C. Grasso, Chief Executive Officer – will present a “State Legislative Update,” including a look at some of the nearly 10,000 pieces of proposed legislation the NJAR has reviewed over the past several years.

Sponsored by Guardian Settlement Agents, one of the state’s leading title agencies serving all of New Jersey’s 21 counties, the free seminar will begin at 3 p.m. on Wednesday, September 18 at the Raritan Valley Country Club, 747 Route 28, Bridgewater, NJ 08807. Hors d’oeuvres and cocktails will be served after the presentation.

To register for the seminar, contact Guardian Settlement Agents Chief Operating Officer Robert McNally at (908) 575-9995 or at rmcnally@goguardianinsurance.com. There is no charge to attend.

“This will be a significant presentation for anyone in the real estate field to attend,” said Guardian CEO Christopher J. Brown. “We all need to stay current in our knowledge of state rules and regulations surrounding our business and an outlook on the future and who could be better to hear from than two of the top officials from our state association.”

Tomson has been with the NJAR since 2003 and has been Government Affairs Director since 2008. In this lobbying position, he works with state lawmakers in Trenton to help craft legislative and regulatory measures that have a positive impact on homeownership and the real estate industry.

Grasso, who joined the association in 1999, serves as the main advocate for the real estate industry in New Jersey. He directs the NJAR in its mission to offer its members programs and services to help them conduct business successfully and ethically. Before become CEO, Grasso was the association’s chief lobbyist.

“We are thrilled to have two of New Jersey’s most knowledgeable real estate professionals speak at our upcoming seminar,” said Guardian COO McNally. “Our goal is to help our customers and clients complete their property sales and purchases efficiently and accurately and having the latest legal information is a key part of this process.”

In addition to the large volume of legislation the NJAR reviews annually, the association actively lobbies on more than 200 bills a year that would have a direct impact on the way real estate is transacted in New Jersey. From local realty transfer fees and inspection requirements to bi-lingual leases and bedbugs, any law or regulation that could possibly affect the real estate industry will be reviewed in this seminar.

Guardian Settlement Agents has offices in both Somerset County – at 54 Grove Street, Suite 3 & 4, Somerville, NJ 08876 (Phone: 908-575-9995, Fax: 908-722-7778) – and Burlington County – at 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 (Phone: 856-985-9007, Fax: 856-985-9977). Both offices are on the web at www.goguardianinsurance.com.

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RE/MAX Connection Realtors accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. RE/MAX Connection Realtors is providing this transmission for informational purposes only. Any views or opinions presented in this email/blog do not necessarily represent those of the company.

The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

RE/MAX Connection Realtors, 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 www.goconnectionnj.com.# # #

RE/MAX CONNECTION PRESENTS ELLIS MILL ESTATES IN MULLICA HILL

RE/MAX CONNECTION PRESENTS
ELLIS MILL ESTATES IN MULLICA HILL

Contact: Kevin Bayzath
Phone: (856) 988-1800
Email: kbayzath@aol.com

MARLTON (August 26) — RE/MAX Connection Realtors, New Jersey’s number one-ranked RE/MAX real estate agency for the past two years, presents to the market an upscale development of 30 custom-built homes in Mullica Hill, Gloucester County.

Realtor John Kelly of RE/MAX Connection’s Mantua office is the lead contact for the homes at Ellis Mill Estates. The community features four-bedroom, two-and-a-half bathroom homes that sit on lots of between one and two acres and are priced in the mid-$300,000s.

Currently, there are two models of homes available at Ellis Mill Estates, the 2,800-square-foot Kenneth and the 3,200-square-foot Ashley. Phase Two of the project now is open and there are two quick-delivery homes available for immediate sale.

Both models feature many upgrades and have kitchens with 42″ cabinets, granite counters and stainless-steel appliance packages. The family room in each model has a gas fireplace with marble surround and a vaulted ceiling while the master suite offers a huge walk-in closet and a private master bath with his-and-her sinks as well as a separate shower and soaking tub.

“This is an excellent opportunity for buyers to acquire one of these top-of-the-line homes while they’re still available,” said RE/MAX Connection CEO Christopher J. Brown. “John Kelly and his colleagues in our Mantua office are known for their outstanding customer service and for working hard to get the most favorable transaction for their buyers.”

The builder is Vertex Properties, which currently has Gloucester County projects in Mullica Hill, Franklinville, and Newfield. You can learn more about the homes and community at www.ellismillestates.com.

Ellis Mill Estates is served by the highly rated Clearview School District and is conveniently located just off Route 322 near exits from both Route 55 and the New Jersey Turnpike. Take Exit 48 off of Route 55 and follow Ellis Mill Road to Ellis Mill Estates on the right. You also can take Route 322 to Richwood Road and turn left on Ellis Mill Road. The development is on the left.

For more information on ordering a custom-built home at Ellis Mill Estates, reserving a lot or scheduling a tour, you can contact John Kelly on his cell phone at (609) 790-6079 or through his website at www.johnkellysellshomes.com.

The three RE/MAX Connection offices – in Mantua, Turnersville and Marlton – successfully closed 1,396 transactions in 2012, more than any other RE/MAX agency in the state, and posted a sales volume of more than $239 million. In 2011, RE/MAX Connection also finished number one in New Jersey by closing 1,417 transactions worth more than $218 million.

RE/MAX Connection – Mantua is located at 140 Bridgeton Pike, Mantua, NJ 08051. Phone: (856) 415-1210. Fax: (856) 415-1291. RE/MAX Connection – Turnersville is at 5701 Route 42, Turnersville, NJ 08012. Phone: 856-228-7990. Fax: 856-228-4433. RE/MAX Connection – Marlton is located at 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053. Phone: (856) 988-1800. Fax: (856) 988-8020.

All three offices are on the web at www.goconnectionnj.com.

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RE/MAX Connection Realtors accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. RE/MAX Connection Realtors is providing this transmission for informational purposes only. Any views or opinions presented in this email/blog do not necessarily represent those of the company.

The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

RE/MAX Connection Realtors, 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 www.goconnectionnj.com.

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TWO MORTGAGE PROGRAMS OFFER BIG DISCOUNTS TO HOME BUYERS

TWO NEW TD BANK MORTGAGE PROGRAMS
OFFER BIG DISCOUNTS TO HOME BUYERS

Contact: Kevin Bayzath
Phone: (856) 988-1800
Email: kbayzath@aol.com

MARLTON (August 9) – Real estate professionals at the three RE/MAX Connection Realtors offices can offer their purchase clients significant savings with two new mortgage programs just introduced by TD Bank.

Information on both programs is available through the TD Bank Realty Resource Center at www.tdbank.com/realtyresourcecenter.

“Customer service is at the heart of what we do at RE/MAX Connection,” said CEO Christopher J. Brown,” and every one of our more than 100 Realtors works hard each day to make the real estate process as quick and easy and affordable as possible.”

The first program, called “Give .125%,” offers purchase clients a one-eighth of one percent discount off a conventional 15- or 30-year mortgage when they present a special coupon as part of their TD Bank financing application. The discount cannot be used on FHA or VA purchases or for refinancing transactions.

Realtors can quickly sign up online by going to the TD Bank Realty Resource Center website and clicking on the “Give .125%” logo. This will take them to a short application form where they are a few simple answers away from being able to print out .125% discount coupons personalized with the Realtor’s name and agency name.

The second program, called “Right Step,” allows first-time homebuyers with a household income of at least $70,000 a year to put as little as five percent down on their purchase. In addition, TD Bank waives the requirement for private mortgage insurance (PMI), which usually is required if buyers put less than 20 percent down as part of the transaction. This waiver can add up to thousands of dollars of savings over the lifetime of the loan.

“These two programs fit perfectly with our strategy of doing all we can at RE/MAX Connection to help our customers,” Brown continued. “It’s another reason why we are consistently one of the top real estate agencies in New Jersey.”

The three RE/MAX Connection offices – in Marlton, Mantua and Turnersville – successfully closed 1,385 transactions in 2012, more than any other RE/MAX multi-office operation in the state, as well as closing more than $230 million in real estate transactions. In 2011, RE/MAX Connection also finished number one in New Jersey by closing 1,417 transactions worth more than $218 million.

RE/MAX Connection – Marlton is located at 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053. Phone: (856) 988-1800. Fax: (856) 988-8020. RE/MAX Connection – Mantua is located at 140 Bridgeton Pike, Mantua, NJ 08051. Phone: (856) 415-1210. Fax: (856) 415-1291. RE/MAX Connection – Turnersville is at 5701 Route 42, Turnersville, NJ 08012. Phone: 856-228-7990. Fax: 856-228-4433.

All three offices are on the web at www.goconnectionnj.com.

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RE/MAX Connection Realtors accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. RE/MAX Connection Realtors is providing this transmission for informational purposes only. Any views or opinions presented in this email/blog do not necessarily represent those of the company.

The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

RE/MAX Connection Realtors, 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 www.goconnectionnj.com.
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ACCESS PROGRAM WRAPS UP SECOND YEAR OF INTERNSHIPS

Spring 2013 ACCESS program students (from left) Corinne Perham, Pete Innaurato and Casey Yoos.

BCC-RE/MAX CONNECTION ACCESS PROGRAM
WRAPS UP SECOND YEAR OF INTERNSHIPS

Media contact: Steve Royek
856-906-4755
sroyek@comcast.net

College student Corinne Perham might not make a career of real estate, but she knows she will use what she learned this past semester in her professional career.

Perham, a communications major who just finished her freshman year at Burlington County College, was one of three students who spent the past four months in an innovative social media internship program at one of South Jersey’s largest real estate agencies – RE/MAX Connection Realtors.

“It was a great experience to work in a professional environment,” said the Moorestown High School graduate and communications major at BCC. “I learned how to write blogs, communicate with clients and provide them with what they need to help them grow their business.”

All three program participants – Casey Yoos of Burlington Township, Pete Innaurato of Evesham and Perham – received one college credit each, along with a financial stipend in the form of a scholarship – as the second group of BCC students to take part in the ACCESS internship program.

ACCESS, which stands for American Community College Educational Social media Scholarship, was created in 2012 by New Jersey Assemblyman Christopher J. Brown, R-Burlington, Camden, Atlantic, who also is CEO of RE/MAX Connection Realtors, which sponsors and funds the program.

Innaurato, Perham and Yoos spent Friday afternoons from early February through mid-May working at the RE/MAX Connection office in Marlton. Each student was assigned four Realtors as clients and they wrote two blogs a week for each one. The blogs were posted on individual websites created for each Realtor as part of the internship.

The goal of the ACCESS program, in addition to giving the students business experiences while they still are in college, is to boost the search engine recognition of the Realtors in particular and of RE/MAX Connection in general.

“In its first two years, the ACCESS program has produced great results for our Realtors and our company,” said RE/MAX Connection CEO Brown. “Such public-private partnerships between local business and community colleges create real-world learning experiences for students, stretch the educational offerings and the budgetary dollars for colleges and bring more customers to companies such as ours.”

The program at Burlington County College, which will be offered again during both the fall 2013 and spring 2014 semesters, is open to students studying marketing, business, journalism and communications. In addition to providing each participant with the scholarship stipend, RE/MAX Connection also pays for the college credits they earn.

The students, however, said they came away from the program with much more than just their credits and scholarships.

“ACCESS helped me with my writing skills and my personal communications skills,” said Yoos, who – after graduating from BCC in May – is matriculating to Temple University to study broadcast communications. “It’s also given me the confidence to communicate with different people about issues I’m not familiar with.”

“For me, it was an opportunity to learn a different type of writing,” said Innaurato, an aspiring journalist who just completed his freshman year at BCC. “Even though they are blogs, each one has to be written with proper style and grammar. While it was a challenge to do that and still include all the necessary search elements, I believe I’m a stronger writer after completing the program.”

Burlington County College students who would like to apply for the ACCESS program should contact the college’s Career Services Office at careerservices@bcc.edu or at 856-222-9311 x2000. For more information on the ACCESS program in general, contact RE/MAX Connection Realtors at info@goconnectionnj.com or at 856-988-1800.

RE/MAX Connection – Marlton is located at 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053. Phone: (856) 988-1800. Fax: (856) 988-8020. RE/MAX Connection – Mantua is located at 140 Bridgeton Pike, Mantua, NJ 08051. Phone: (856) 415-1210. Fax: (856) 415-1291. RE/MAX Connection – Turnersville is at 5701 Route 42, Turnersville, NJ 08012. Phone: 856-228-7990. Fax: 856-228-4433.

All three offices are on the web at www.goconnectionnj.com.

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RE/MAX Connection Realtors accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. RE/MAX Connection Realtors is providing this transmission for informational purposes only. Any views or opinions presented in this email/blog do not necessarily represent those of the company.

The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

RE/MAX Connection Realtors, 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 www.goconnectionnj.com.

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FOUR RE/MAX CONNECTION REALTORS EARN LIFETIME, HALL OF FAME HONORS

FOUR RE/MAX CONNECTION REALTORS
EARN LIFETIME, HALL OF FAME HONORS

Contact: Kevin Bayzath
Phone: (856) 988-1800
Email: kbayzath@aol.com

MARLTON (June 7) — RE/MAX Connection Realtors, the number one-ranked RE/MAX real estate company in New Jersey in 2011 and 2012, announces that four of its Realtors have received significant professional honors for outstanding real estate sales performance.

Brent Grigsby in the Mantua office and John Swartz in the Turnersville office received Lifetime Achievement awards for earning a total of $3 million in gross commissions over seven consecutive years with RE/MAX while two others – Yvette Veideman in the Marlton office and David Beach in the Turnersville office — accumulated enough sales ($1 million in gross commissions in their career) to gain entry into the RE/MAX Hall of Fame.

“Congratulations to Brent, John, Yvette and David for reaching these important personal goals,” said RE/MAX Connection CEO Christopher J. Brown. “We always have said we have the best Realtors in New Jersey at RE/MAX Connection and these Lifetime Achievement and Hall of Fame honors once again prove that point.

“These four professionals, along with all of the 100-plus Realtors in our three offices, work hard to produce the best results possible for our clients,” Brown continued. “We provide our agents with the industry’s best technology, marketing and customer service support they need to help them meet and exceed their customers’ expectations.”

The three RE/MAX Connection offices – in Marlton, Mantua and Turnersville – successfully closed 1,385 transactions in 2012, more than any other RE/MAX multi-office operation in the state, as well as closing more than $230 million in real estate transactions. In 2011, RE/MAX Connection also finished number one in New Jersey by closing 1,417 transactions worth more than $218 million.

Among individual office locations statewide, RE/MAX Connection’s Turnersville operation was third in the state in units sold in 2012 with the Marlton office being ranked number seven in units sold last year.

In addition, RE/MAX Connection ranked third statewide in overall agent commissions paid at more than $7 million and the Turnersville office also was ranked 10th in the state for commissions paid from a single office.

RE/MAX Connection – Marlton is located at 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053. Phone: (856) 988-1800. Fax: (856) 988-8020. RE/MAX Connection – Mantua is located at 140 Bridgeton Pike, Mantua, NJ 08051. Phone: (856) 415-1210. Fax: (856) 415-1291. RE/MAX Connection – Turnersville is at 5701 Route 42, Turnersville, NJ 08012. Phone: 856-228-7990. Fax: 856-228-4433.

All three offices are on the web at www.goconnectionnj.com.

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RE/MAX Connection Realtors accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. RE/MAX Connection Realtors is providing this transmission for informational purposes only. Any views or opinions presented in this email/blog do not necessarily represent those of the company.

The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

RE/MAX Connection Realtors, 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 www.goconnectionnj.com.

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GUARDIAN SEMINAR TO FEATURE BUSINESS NETWORKING

GUARDIAN SETTLEMENT SEMINAR FOR JUNE
TO COVER NETWORKING FOR BUSINESSES

For more information, contact
Drew Whipple at 856-985-9007
or awhipple@goguardianinsurance.com

EVESHAM (May 25) – Jenny Ryan, from Southern New Jersey Business People magazine, will be the featured speaker at the next “Guardian Hour of Power Lunch Seminar” to be held on Wednesday, June 12.

Ryan will lead a discussion on effective networking techniques for small companies. She is publisher and president of the magazine, one of South Jersey’s leading business publications.

The seminar, sponsored by Guardian Settlement Agents, one of New Jersey’s leading title agencies serving all of the state’s 21 counties, will begin at 12 p.m. noon, Wednesday, June 12 at Guardian’s South Jersey headquarters at 1000 Lincoln Drive East, Suite Two, in Marlton (08053). Lunch will be served and there is no charge to attend.

To register for the seminar, contact Guardian Settlement Agents President Drew Whipple at 856-985-9007 or awhipple@goguardianinsurance.com.

“Jenny used her excellent networking techniques to build the magazine into one of the must-read publications for South Jersey companies each month,” said Guardian CEO Christopher J. Brown. “We are fortunate to have her share her expertise with us on this important business-building topic.”

Southern New Jersey Business People (SNJBP) is published the second week of each month and contains news and information about business owners and leaders in Burlington, Camden and Gloucester counties. It focuses on what they do to make their companies successful and on how they give back to the community.

Since its first issue in September 2007, SNJBP – and its corresponding website www.sjnbp.com – has paid special attention to volunteer groups and other organizations that spend time and money to help make municipalities throughout South Jersey better places to live.

“Volunteering has opened many new and interesting doors,” Ryan said, “allowing me to meet and interact with business leaders throughout South Jersey and the Greater Philadelphia area.” These are the stories she and her staff share with their readers each month.

The next “Hour of Power” seminar will be held on the second Wednesday of July, the 10th, and will feature a presentation called “Title 101” on the basics of title insurance and settlement services.

Guardian Settlement Agents has offices in both Burlington County – at 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 (Phone: 856-985-9007, Fax: 856-985-9977) – and Somerset County – at 54 Grove Street, Suite 3 & 4, Somerville, NJ 08876 (Phone: 908-575-9995, Fax: 908-575-9996). Both offices are on the web at www.goguardianinsurance.com.

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RE/MAX Connection Realtors accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. RE/MAX Connection Realtors is providing this transmission for informational purposes only. Any views or opinions presented in this email/blog do not necessarily represent those of the company.

The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

RE/MAX Connection Realtors, 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 www.goconnectionnj.com.

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April New Home Sales / First Quarter FHFA Home Prices

NAROFF ECONOMIC ADVISORS, Inc.

Joel L. Naroff
President and Chief Economist

INDICATOR: April New Home Sales / First Quarter FHFA Home Prices

KEY DATA: Sales: +2.3%; Median Prices (Year-over-Year): +14.9%/FHFA Home Prices (Year-over-Year): 6.7%

IN A NUTSHELL: “Limited supply and growing demand is the ticket to higher prices and that is exactly what is happening in the new home market.”

WHAT IT MEANS: The news from the housing market is nothing but good. New home sales rose in April, though the gains were no very well distributed across the nation. Demand was off double-digits in the Northeast and less sharply in Midwest. Meanwhile, sales improved in the South and jumped in the West. That was a reversal in form from March, so let’s just say these monthly changes shouldn’t be taken too seriously. Over the year, every region is up with sales surging 29% in the nation. For the first four months of this year, demand is up about 27% compared to the same period in 2012. That pretty much tells it all. While people are out there buying, builders are not rushing to put a whole lot of inventory up for sale. The supply of new homes is going up but it not matching the rise in purchases. The result is that prices are jumping.

The price increase in the new market is not an aberration as gains are also being seen in the existing market. The Federal Housing Finance Agency’s first quarter 2013 price index posted a solid rise from the end of 2012 and the gain over the year was also strong. The index is now back to the same level as November 2004.

MARKETS AND FED POLICY IMPLICATIONS: The housing market has been leading the way but there are now some concerns whether that can continue. A jump in Treasury rates is leading to a rise in mortgage rates. The first to go is refinancing. Initially, home buyers who had been sitting on the fence may jump off fearing further increases in rates. But then there could be a slowing in demand as some people are priced out of the market. However, thirty-year rates below four percent are not very high so I don’t expect the impact to be great. And right now we have had a knee-jerk reaction to rumors that the Fed might be willing to cut back on its pedal-to-the-metal approach to monetary policy. Mr. Bernanke’s testimony yesterday did not provide much support for those views so it will be interesting to see where rates go over the next few weeks. Keep in mind, sequester and tax increases are kicking in so second quarter growth may not be that great and the negative impacts are likely to accelerate through the summer. As for investors, Japan’s sharp decline is a reminder that markets that go too far too fast are subject to corrections.

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RE/MAX Connection Realtors is not a licensed financial advisor and is not providing any financial advice. You should consult with a licensed financial advisor prior to making any financial decisions. RE/MAX Connection Realtors only is providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.

Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

RE/MAX Connection Realtors, 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 www.goconnectionnj.com

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April Housing Starts and Permits/Jobless Claims

NAROFF ECONOMIC ADVISORS, Inc.

Joel L. Naroff
President and Chief Economist

INDICATOR: April Housing Starts and Permits/Jobless Claims

KEY DATA: Starts: down 16.5%; Permits: up 14.3%/Jobless Claims: 360,000 (up 32,000)

IN A NUTSHELL: “With permits outstripping construction, look for a rebound in housing starts over the next few months.”

WHAT IT MEANS: New home construction plummeted in April, so should we worry? Not me. It’s not as if weather doesn’t matter as we saw yesterday with the industrial production number being whipsawed by utility output. So let’s not get too crazy about the drop in housing starts. Indeed, it is hard to explain a 28% drop in the South to a level not seen since last August. Has the housing market really dried up there? I doubt it. There was a double-digit decline in starts in the Northeast and a smaller fall off in the West with only the Midwest showing a gain. It is worth noting that the first number to exceed one million units annualized in nearly five years was posted in March. Also, for the first four months of the year, starts are up 29% compared to the pace posted in 2012, so it would be asking a lot to expect an even larger increase. And finally, permit requests soared over the one million-unit level and they are running above starts. As I have pointed out on a number of occasions, you need to watch the permit requests since developers are not spending the money unless they are pretty sure they will be building the houses. Indeed, the April jump in units authorized but not started is a clear indication that we should see a rebound in construction next month. The solid pace of construction so far this year has increased the supply of homes on the market and, with inventory being an issue in the existing home market, this could lead to stronger new home sales.

Jobless claims surged but that also may be a non-event, maybe. These numbers are hugely volatile and the four-week moving average rose only modestly. However, with sequestration layoffs starting to kick in, maybe there is something here to look at more closely. I don’t worry about one month increase or decrease but we have been looking for signs that sequestration is hurting and this may be the first one. We shall see over the next couple of months if that is the case.

MARKETS AND FED POLICY IMPLICATIONS: The falloff in construction and the rise in jobless claims are not what anyone wants to see. The markets, especially the bond market, have started to price in a rebound in growth. But the hurdles of tax increases and sequestration are still to be cleared and the impacts are likely to be felt more and more over the next few months so any sign of slower growth is something to watch carefully. How will investors react? These are data that argue for continued Fed aggressiveness so that is generally good. But whether that outweighs the weakness in the numbers is another issue. As for me, these numbers tell me little as they seem to be just the usual ebb and flow of volatile data.

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RE/MAX Connection Realtors is not a licensed financial advisor and is not providing any financial advice. You should consult with a licensed financial advisor prior to making any financial decisions. RE/MAX Connection Realtors only is providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.

Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

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February Case-Shiller Home Prices/1st Quarter Employment Costs

NAROFF ECONOMIC ADVISORS, Inc.

Joel L. Naroff
President and Chief Economist

INDICATOR: February Case-Shiller Home Prices/1st Quarter Employment Costs

KEY DATA: Case-Shiller (20-City): 1.2%; Year-over-Year: 0.3%/Wages and Salaries (Year-over-Year): 1.6%

IN A NUTSHELL: “A sluggish economy may be holding back wage gains but it is not stopping the surge in housing prices.”

WHAT IT MEANS: And the beat goes on. For those who think the Fed’s policy of keeping rates down is a failure that will only lead to surging inflation, well, you are wrong and right. Wrong because the sector that the Fed is targeting the most, housing, remains the one truly bright light in the economy. Right because housing prices continue to rise sharply, as we saw in the February S&P/Case-Shiller Home Price Index report. The gain over the month was impressive and we are approaching double-digits compared to 2012 price levels. When adjusted for seasonality, every metropolitan area posted a gain both over the month and over the year. The increases from February 2012 range from a low of 1.9% in New York City to 23% in Phoenix. Half the areas had increases in excess of ten percent while another three are poised to join the ranks as their gains exceeded nine percent.

While prices in the housing market may be rising, worker earnings remain restrained. Compensation rose modestly during the first part of the year though wage gains did pick up a touch. The growing manufacturing sector is paying more and wages in the public sector are rising much slower than in the private sector, which is not going up very quickly at all. Looking across the country, compensation jumped the most in Atlanta and the least in Phoenix.

MARKETS AND FED POLICY IMPLICATIONS: The sharp jump in housing costs may make some worry but I have my best Alfred E. Neuman face on. The more people who get back above water, the more homes that will come on the market and the bidding frenzy that is going on in some places will ease. Limited supply, coupled with the low prices, is allowing people to bid up asking prices but how long that will last is good question. The Fed started its two-day meeting and some are looking for a sign that the massive easing program will be ending this year. With first quarter growth less than hoped for and with sequestration and tax increases kicking in, the FOMC is in no hurry to allow rates to start rising. That should keep the demand for housing up and price gains high. The lack of wage increases is an issue as prices continue to rise. Qualifying becomes more difficult. But for now, the benefits of strong home price increases far outweigh the risks to the housing market of the modest worker compensation gains. Investors should like these reports as they point to controlled business compensation costs and continued housing strength. But this is still earnings season and the markets have come a long way so who knows where the indices will go on any given day.

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RE/MAX Connection Realtors is not a licensed financial advisor and is not providing any financial advice. You should consult with a licensed financial advisor prior to making any financial decisions. RE/MAX Connection Realtors only is providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.

Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.

RE/MAX Connection Realtors, 1000 Lincoln Drive East, Suite Two, Marlton, NJ 08053 www.goconnectionnj.com

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