Does experience matter when hiring a real estate agent?

Yes, experience does matter when looking to hire a real estate agent. A real estate agent with more experience is likely to have a better understanding of the market and the process of buying or selling a property. They may also have established relationships with other professionals in the industry, such as home inspectors, appraisers, and lenders, which can make the process smoother for their clients.

In addition to experience, it's important to consider other factors such as the agent's reputation, communication skills, and knowledge of the specific market you are interested in. It's a good idea to interview several agents and ask for references from past clients to help you make an informed decision.

Ultimately, the most important thing is to find an agent who you feel comfortable working with and who you trust to represent your interests in the transaction.

Yes, experience does matter when looking to hire a real estate agent. A real estate agent with more experience is likely to have a better understanding of the market and the process of buying or selling a property. They may also have established relationships with other professionals in the industry, such as home inspectors, appraisers, and lenders, which can make the process smoother for their clients.

In addition to experience, it's important to consider other factors such as the agent's reputation, communication skills, and knowledge of the specific market you are interested in. It's a good idea to interview several agents and ask for references from past clients to help you make an informed decision.

Ultimately, the most important thing is to find an agent who you feel comfortable working with and who you trust to represent your interests in the transaction.

Larry Steinberg, The Steinberg Group at Keller Williams Realty 609-405-4111 Cell 856-321-1212 x 1688 Office www.Larrysellsnj.kw.com

 When interest rates are high, many homebuyers turn to adjustable-rate mortgages, better known as ARMs. That's because these mortgages typically come with initial interest rates that are lower than what they'd get when applying for a standard 30-year or 15-year fixed-rate mortgage.

Those lower initial rates mean lower monthly mortgage payments. That's the good news. The downside? Those lower initial rates don't last forever.

The fixed period: An ARM comes in two parts: First, there's the fixed period. This typically lasts for five to seven years. During these years, an ARM's interest rate remains fixed, meaning it doesn't change. This is why ARMs are beneficial during times of higher mortgage interest rates. If you qualify for an ARM, you'll typically get a lower initial interest rate that will remain in place for five to seven years.

The adjustable period: ARMs get more complicated after this fixed period ends. That's when they enter their adjustable period, the years in which the loan's interest rate can change, usually once a year.

Depending on what economic index an ARM is tied to, its interest rate will usually increase once a year. That could prove challenging to homeowners who didn't budget for the higher mortgage payment that comes when their ARM's interest rate adjusts upward. that's why you must make sure that you can afford your loan's monthly payment even after its interest rate rises.

Here’s how an ARM works: Say you take out a 5/1 ARM. During the first five years of your loan, your interest rate — typically one that is lower than what you’d get with a fixed-rate mortgage — won’t change for five years. After this period ends, your interest rate will adjust once a year. Though it doesn’t have to, you can generally expect your rate to rise during this time.

There are some protections for homeowners, though. Most ARMs come with caps on how much interest rates can rise after their fixed period ends. An ARM's initial adjustment cap states how much its interest rate can rise initially after the fixed period ends. This cap will vary, but typically interest rates will rise no more than five percentage points after the initial fixed period ends.

ARMs often come with a lifetime adjustment cap too. This cap represents the maximum amount that your rate can rise during the entire lifespan of your loan. Typically, this cap comes in at 5%. This means that your ARM's interest rate can never be more than five percentage points higher than its initial rate. If your ARM had an initial rate of 3.5%, then the highest that rate could climb to with a 5% lifetime cap would be 8.5%.

It's important to know these different caps when taking out an ARM. They can help you determine if there’s room in your household budget for your mortgage payments after they increase during your ARM’s adjustable period.

The refinancing move: You can also consider refinancing out of an ARM to a fixed-rate mortgage before your loan reaches its adjustable period. That would give you the benefit of a low initial interest rate without the uncertainty that comes with a rate that can rise or fall each year. Make sure you have enough equity in your home, though. You’ll usually need at least 20% equity to qualify for a refinance.

Larry Steinberg, The Steinberg Group at Keller WIlliams Realty                                                                         609-405-4111 Cell    856-321-1212 x 1688 Office                                                                                             www.larrysellsnj.kw.com

Hi Larry.  I'm a first time home buyer. I'm not sure what to     

Congratulations on your decision to become a first-time home buyer! It's an exciting time, but it can also be overwhelming. Here are some tips to help you get started:

1. Determine your budget: Before you start looking at homes, it's important to determine how much you can afford to spend. This will depend on your income, expenses, and other financial obligations. Consider using a mortgage calculator to get an estimate of your monthly payments.

2. Get pre-approved for a mortgage: Once you have an idea of your budget, it's a good idea to get pre-approved for a mortgage. This will give you an idea of how much you can borrow and what your interest rate will be. You can do this by contacting a lender or using an online mortgage broker.

3. Research neighborhoods: When you're looking for a home, it's important to research neighborhoods to find the one that's right for you. Consider factors such as proximity to schools, shopping, and public transportation.

4. Work with a real estate agent: A real estate agent can help you find homes that meet your needs and budget. They can also guide you through the home buying process and help you negotiate the best deal.

5. Get a home inspection: Once you've found a home you like, it's important to get a home inspection. This will help you identify any potential problems with the home before you buy it.

Remember, buying a home is a big decision, so take your time and do your research. Good luck!

Larry Steinberg, The Steinberg Group at Keller Williams Realty 609-405-4111 Cell 856-321-1212 x 1688 Larrysellsnj@kw.com

It's Tuesday

When I first heard about blogging, I had no idea what I was going to write about.  Sadly, with all the things happening in the world and the US in particular, there is no shortage of topics.

This past weekend a horrendous thing happened in Pittsburgh. In a synagogue during a prayer service, a gunman burst into the building with an automatic weapon and handguns, and killed 11 worshippers.  There is something major wrong in our great country when schools and houses of worship are not safe places.

There has been an increase in hate crimes in the US.  People can point fingers if they wish, but ultimately I believe it is due to a breakdown in family and respect and simple communication..

Dinner time was sacred in our home.  It was understood that during dinner the family would be together and could talk about their day.  People actually had conversations at the table.  The other day I was out to dinner with a friend and all I saw were people on their cell phones....hardly any conversations going on.

I would never use curse words in front of my parents as a child....but recently as a youth group advisor, I heard one of my boys drop the "F" bomb repeatedly to his dad.

A friend of mine; who happens to be Muslim, told me today that recently her son has been the victim of hate crimes.  A boy on his bus called him an inappropriate name and told him to slit his wrists.  Yesterday another boy followed him off of the school bus and hit him on the chin.

My friend's son is a sweet kid.  I'm certain he didn't provoke the incidents.

I hate watching tv during election times because of the awful commercials.  Not a word of what the candidate will do for their constituents, but ranting about a candidate who had sex with teen age girls.....info that is totally unsubstantiated.

The HATE in this country HAS TO STOP!!!

President Trump ran on a campaign to Make America Great Again.  In order to do that Respect, Caring and Communication need to be brought back.

And that needs to begin at home...right on up to the President.

Happy Tuesday,

Although Real Estate was never a career that I planned on having, it's been a great ride.

Financially it's been good to me.  Being a people person, it has given me the opportunity to meet people from all walks of life and make some lifelong friends.

I have been an active member of the local and New Jersey Associations and have served as President of our local Association and on the Board of Directors of the New Jersey Association.

It has enhanced my leadership qualities. I have met Realtors from all over the United States. And I've helped people find their dream homes.

It has been 40 years since I was first licensed.  Although the early years were not great, I have grown in my skills and have been a role model to many.

Looking back, the accident of becoming a Realtor has had a major impact on my life and I wouldn't change a thing.

Enjoy the rest of your day

Happy Tuesday

For two years, Entourage Elite Real Estate in Cherry Hill was located in a 400 square foot office on Kings Highway in Cherry Hill.  This past July, we moved into our new 2300 square foot office on Realtor Row......Route 70 in Cherry Hill

Our beautiful new office offers our agents and clients the newest technology and space.  This next stage in our existence will allow Entourage Cherry Hill to grow and expand our services in South Jersey.

Agent offices, large training area, kitchen and conference rooms were designed with the latest in comfort and technology.

Agents and the public are welcome to come see our new office.  Feel free to call me at 609-405-4111, to see our new space.

Hope to see you soon.

Larry

Happy Tuesday

So, it's been almost 41 years since I got my real estate license.  Selling real estate is nothing I ever thought I'd be doing.  I considered careers as a musician, teacher, lawyer, rabbi......real estate was never on the list.

So, in 1977, I decided to take a real estate course.  I took a one week course at a school on Route 73 in Berlin, near Los Amigos.  I passed the course, passed the state exam, and now I was a licensed real estate salesman.

I took my license to Charleston Real Estate on Brace Road in Cherry Hill.  Charlotte Weinstein was the Broker.  She led me to a desk and said....."go sell houses!"

I had no clue what to do so I asked her, "How do I do that?"  She told me to make phone calls.  I asked, "Who do I call?"  She handed me a telephone book.   So then I asked, "What do I say?"  She told me to ask if they were interested in buying or selling a home.

That was my training.  Things are different now.  As the manager of Entourage Elite Real Estate in Cherry Hill, I coach my agents....one on one.  I'm available 7 days a week if  they have questions or need help.

Entourage offers it's agents the technology and training available to make selling homes easier and inexpensive.

If you're currently an agent, newly licensed or thinking of a career in real estate, give me a call on my cell at 609-405-4111.  I'd love to have you as part of our happy family.

Larry Steinberg, Broker Manager

Entourage Elite Real Estate