Susan (Sue) McSwain
Sales Representative
Weichert Realtors
1625 Route 10 East
Morris Plains, NJ 07950

Office 973 984 1400
Cell 908 400 1440

smcswain@weichert.com

www.suemcswain.com

Sue is a refugee from corporate America where you

• Knew personalities, culture, norms
• Had a power base – bestowed and earned
• Have salaried employment and are actually paid for vacations and sick days
• Schedule was somewhat predictable (Mon to Fri) 8:30 to 5:30
• Real Estate is different

Typical week for me as a realtor

Sunday is open house day

• Starts with putting the request for a newspaper ad a week ago – oh, and you have to update the MLS so the public will see on the web sites
• Then the fun part:   dodging traffic, sludging through snow to put out the signs – of course, we try to put out a minimum of 8
• Sometimes you have to deal with some unusual home owners like the one who just screamed “move it” when I attempted to place signs near his property
• Then, it’s all about Meet/Greet/Bond with potential buyers (and of course showing the home) – there’s no power structure or hierarchy here to speak of!   You work for everyone
• Hopefully, you are able to get an appointment with a buyer
• After 4 hours of smiling, need to reverse the process and pick up the signs

Monday is very unstructured (in fact, most days are)

• After sharing the results of the open house, yoga is my best bet
• Thank you emails and notes to everyone
• Update listing clients of open house activities, buyer feedback, potential offers
• One of the many weekly training classes at 1:00
• Call night – bribe us all by bringing in food (oh, and did I mention food?  It’s everywhere!!!)

Tuesday is a good day to take off

• Hopefully, though, you have appointments with buyers and need to prepare for the evening meeting
• Always attempt to get folks in the office (again, it’s the bonding thing since people buy from people) and we all have a personal buyer’s consultation presentation that literally takes an hour to go through.   First time I took an hour just talking about real estate was an eye opener
• Better yet, you could have appointments with sellers, which requires a lot of preparation
• First appointment (measuring, pictures, etc)
• Second appointment (full-scale marketing presentation with photos, comps, PTA, market positioning)

Wednesday is preview day

• Office meeting
• Caravan
• Preview other properties where you are the neighborhood expert or where you need to have a comparison property

Thursday & Friday

• Another unstructured day that you fill again with appointments, previews, or paperwork
• Of course there’s always developing lead lists, updating the lead database, updating your social media sites (or developing your overall marketing/social media strategy), negotiating offers, accompanying inspectors or bank representatives, collecting radon cans, talking to the town about COs

Saturday is a great day to call folks

• FSBOs
• Expired clients
• Neighborhood calls

And, there’s more:   hopefully you have been assigned phone time (usually 2-3X a week) or get a call from the 800# (lead network)

Good news is that it is completely unstructured; bad news is that there are no vacations, per se and most certainly nobody is paying you when you take a day off.  Relators tend to work 7 days a week with little breaks.  Certainly doesn’t pay a lot and it takes a while to establish a business

But:   meet great people, you’re helping them get to where they want to be

To be a great realtor you need three characteristics

• Perseverance
• No fear of rejection
• About to banter and bond with people

Casey L. Carhart
Attorney at Law
Mandelbaum, Salsburg, Lazris & Discenza
155 Prospect Ave
West Orange, NJ  07052

Phone (973) 243-7942

Email:  ccarhart@msgld.com

Casey Carhart regaled us this morning with a game she created called Law Firm Bingo. The purpose of the game was not only to have a lot of fun, but also to help her fellow Parsippany LeTip members learn about all of the ways her law firm could help people.

Casey is a dynamic, competent, and well-respected lawyer who specializes in Corporate Law, Tax Law, and Estate Planning.

How to play

1. Use the Law Firm Bingo card (below)
2. When answering each of the 15 questions below,  “check-off” a square on your Bingo card.
3. The first person to to yell Bingo and have the correct 5 squares checked off is the winner!

[The answer key is at the bottom]

Here is a wonderful brochure, Working TOGETHER Going the Distance for You, that goes over all of the services that Casey’s law firm, Mandelbaum Salsburg, offers.

1. Tom and Angelo are looking to start a new business.  They have asked me to refer them to someone who will form a new LLC and prepare an operating agreement that will protect their interests? ANSWER____________________

2. They have decided that the name of their business will be Networking Runners, LLC; however, they are concerned that the name may already be in use and if its not they would like to prevent anyone else from using the name. ANSWER____________________

3. Sue recently decided to quit selling real estate and start developing real estate around some of the world’s most beautiful golf courses.  She is looking for advice on what steps she needs to take in order to legally acquire the land and the required permits.  ANSWER____________________

4. After speaking to her attorney and successfully building hundreds of condos, Sue realizes that she will need to organize a homeowners’ association prior to listing the properties.  Sue is looking for some help and has no idea where to begin.  ANSWER____________________

5. Anh recently took Michael out to lunch to thank him again for building such a beautiful kitchen.  During lunch, Michael told Anh about one of his clients who is refusing to pay his bill despite the fact that she signed his contract.  Without hesitation Anh recommends that he speak to which department? ANSWER____________________

6. After lunch, Anh called Elliot to break the news that she would soon be relocating the Georgia. Elliot quickly cautioned Anh to update her estate planning documents because Georgia law is quite different than NJ law.  ANSWER____________________

7. Last month Luis went to his semi-annual check up with Dr. Derek. Dr. D couldn’t wait to tell Luis all about the new partner he had brought into the practice.  Luis, being ever the good tipper, made sure to remind Dr. D to give Casey a call to make sure that the practice was properly protected and in compliance with all state dentistry laws.  ANSWER____________________

8. PJ’s co-worker at Volvo recently confided in him that she had secretly been dating the CEO of Volvo, Stefan Jacoby, and they were now engaged.  PJ’s co-worker was very distraught over the fact that Mr. Jacoby asked her to sign a pre-nuptial agreement and she didn’t know what to do.  Fortunately, PJ knew exactly what to do.  ANSWER____________________

9. Not too long ago Dave and his wife, Mariella, decided to move out of their Lincoln Park home and move all the way to, Lincoln Park.  While they were thrilled about the house, they were not thrilled about the property taxes and felt that they were unnecessarily high.  Dave called Rick to ask him about this tax problem.  Rick, of course, said Casey can help you with that and went back to preparing a stack of 2011 income tax returns.  ANSWER____________________

10. A few minutes later Rick’s 12:30 client walked through the door.  Right away Rick knew something was wrong and noticed that his client’s eye was black and blue.  It didn’t take long for Rick to figure out that she was a victim of abuse.  The client explained that she was in the process of a divorce, but her husband had recently shown up at her home in a fit of rage.  In a comforting manner, Rick explained that she should get some help and called me.  A few minutes later I showed up at Rick’s office with a member of this department.  ANSWER____________________

11. Back in Boonton, Tom was preparing for his monthly dinner party and was eagerly anticipating Vincent’s arrival.  Unfortunately, Vinny got there a little late b/c he was stopped by a state trooper and issued a speeding ticket.  Vinny, who has a perfect driving record, was 100% certain that the ticket was issued in error and explained his frustrations to Tom over a wonderful dinner.  Tom advised Vinny that bringing an attorney with him to traffic court might be just the ticket to getting out of the unfair ticket. ANSWER____________________

12. On his drive home Vinny was sure to follow all of the traffic rules to a T.  When Andrew called him, Vinny was certain to use his hands free set.  Andrew explained to Vinny that he was leaving Paymedia and had a new job offer with Liberty Payroll Solutions. Vinny wished Andrew the best of luck and cautioned that he should probably have an attorney look over the new employment contract before he agreed to anything.  ANSWER____________________

13. Dotty recently had a visit from one of her oldest customers, a Holocaust survivor, who was looking to open a bank account for her new foundation.  After a little probing Dotty realized that the foundation was not actually formed yet and informed the customer that she would need to speak with an attorney to properly secure the foundation’s tax-exempt status. ANSWER____________________

14.  Tomorrow Dianne will be meeting with a new client to discuss a potential reverse mortgage for her parents.  The new client warned Dianne that her mother suffered from early stages of dementia and she did not have a power of attorney in place.  Dianne called me immediately to discuss the steps for obtaining a guardianship over an incapacitated adult.  ANSWER____________________

15.  Elliot’s favorite client, Baker Bob, called him this morning with some unfortunate news.  One of his employees filed a suit against Baker Bob for allegedly getting burned while taking a tray of Valentine’s Day cookies out of the oven.  Thanks to Elliot, Baker Bob had the proper workers’ compensation insurance in place.  However, Bob knew that the employee was lying and really got burned at home when he burned his Valentine’s Day dinner.  Elliot knew just who to call.  ANSWER____________________

Today’s Winners

Answer Key

Vincent M. Blazewicz, RFC, CLTC
CFS – Certified Financial Services, LLC
Financial Specialist
52 Forest Avenue
Paramus, NJ, 07652

Telephone: (201) 843 7700
Cell (973) 865 2006

Email vblazewicz@cfsllc.com

Vincent is a broker not an agent.  He does not work for a specific insurance company, he works for his clients.  This morning, Vincent shared with us an in-depth examination of the topic of RISK and making financial decisions.

Different people have different tolerances for risk.  Some folks like to do risky things like skydiving, but are still financially very risk adverse.

Risk is a balance between gain and loss.  But remember when making financial decisions be aware of the decision making effect of Bounded Rationality,

“Bounded rationality is the idea that in decision-making, rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision.”  Wikipedia definition

Sometimes when making financial decisions we can become overconfident.  But remember there are some ways of mitigating risk by buying insurance.  Plus, it is always a good idea to work with an insurance broker when making risk laden decisions.

When buying financial instruments it is important to know your

• Risk tolerances
• Time horizons
• Whether your sleep will be effected by the risk you take

Which are  you? A Risk Averter or a Risk Taker?

Dave Taormina

Home Mortgage Consultant
NMLSR ID 215662

Wells Fargo Home Mortgage
87 Berdan Ave
Wayne, NJ  07470

MAC M6018-011

Tel (973) 686-3209
Cell (973) 632-0370
Fax (866) 587-6981

David.Taormina@wellsfargo.com

www.wfhm.com/david-taormina

Dave is a new employee of Wells Forgo and he shared with us some of the things he has learned about his new company.

• Wells Fargo was founded in 1852 and was responsible for starting the Pony Express.  From the Gold Rush to the early 20^th Century, Wells Fargo earned a reputation of trust by dealing rapidly and responsibly with people’s money and goods, offering both banking and express delivery.
• Through today, in prosperity, depression and war, even greater post-war prosperity, social changes, and ever faster communications technologies, Wells Fargo’s attention to customers’ business has seen it through and brought success.
• Biggest mortgage company in the USA,
• Wells Fargo has 25% of all home loans
• Each year they do some type of financial business with 1 out of 2 people in the USA
• Only 5% exposure to Europe

Wells Forgo is committed to the mortgage business.  One way that they exhibit this is by sponsoring home ownership working community to community

Wells Fargo is the cover story on a recent Fortune magazine saying Wells is the current mortgage company who has continually done the right thing  always focusing on the customer

Q&A

Question: Why Refinance?

Answer:  The first and most important reason to refinance your home mortgage is to save money.   Another reason is to put a process in place to pay off your mortgage quicker.

Other reasons to refinance include funds to help:

• Starting a business
• Paying for college
• Helping pay for parental care

By the way, Dave attends everyone of his closing to ensure everything goes well for his clients.

ITEMS NEEDED AT LOAN APPLICATION

1. 30 Days full paycheck stubs (YTD)
2. Last 2 years W-2′s
3. Last 2 months bank statements on all accounts, all pages
4. Copy of all Bankruptcy Discharge papers and list of creditors (if applicable)
5. Copy of Settlement Statement for sale of home (if applicable)
6. Copy of signed Real Estate Contract (if purchase transaction)
7. If self-employed, need 2 years of personal and business returns

REFINANCE

1. Copy of Title work
2. Copy of old Survey
3. Copy of Mortgage/Deed for Trust
4. Copy of Statement from purchase
5. Insurance company name, phone number and policy#

Anh Le Molloy
Independent Consultant
Arbonne International
Phone: (973) 479 0040
Email: almolloy@myarbonne.com
Website: www.anhlemolloy.myarbonne.com

“Arbonne products are Pure, Safe, & Beneficial”

Today, Anh shared with us that healthy skin starts from the inside.  We learned about the Five Key Areas of Fitness that lead to healthy glowing skin.

Five Key Areas of Fitness

Many people don’t realize that fatigue, foggy thinking, poor sleep, excess weight  (especially around the stomach, hips and thighs) and even aging skin are signs of nutritional deficiencies that can be reversed.

Focus on Five Key Areas of Fitness

1. Eat Clean
2. Increase Nutrient Intake
3. Eliminate Allergenic and Addictive Foods
4. Balance Blood Sugar
5. Support Eliminate Organs

All 5 areas are supported by ARBONNE’S whole food nutritional line that is certified vegan and free of gluten, dairy, soy and artificial colors, flavors and sweeteners (Click here for a more in-depth discussion):

ARBONNE Essential Power Packs for Men and Women (Area 2)

ARBONNE Essentials Digestion Plus (Area 3)

ARBONNE Essentials Protein Shakes (Area 3)

ARBONNE Essentials Fizz Tabs (Area 4)

ARBONNE Essentials Daily Fiber Boost (Area 4)

ARBONNE Essentials Herbal Detox Tea (Area 5)

ARBONNE Essentials 7 Day Body Cleanse (Area 5)

Find out more – 30 Days to Feeling Fit with Arbonne essentials

SKIN SUPPORT

Arbonne SeaSource Detox Spa Purifiying Sea Soak

7 Simple Steps To Get Started

1. Weigh yourself
2. Go shopping and get started
3. Water is your best friend
4. Eat every 4 hours
5. Do not obsess!
6. Do not over eat when eating meals
7. Track your success

Diane Masucci
Reverse Mortgage Consultant
NMLS  ID 485931

240 Cedar Knolls Road
4th Floor
Cedar Knolls, NJ 07927

Direct (973) 462-2274
Toll Free (800) 607-0366

Click to view Diane’s Website

Diane shared with us that reverse mortgages are now being used as part of a financial portfolio for a person 62+ years old .

There are a variety of ways to take money out of your home with reverse mortgages
- An income stream
- A lump sum
- A monthly income
- A line of credit and take the money as you need it
- Another alternative is an Income stream and use part of the money for a insurance policy which can result in a monthly income and an inheritance for your children

Proper planning prevents poor performance; look to include a reverse mortgage early in your retirement planning process.

Tom Grant
Colonial Title and Abstract Service
19 Route 10
Suite 10
Succasunna, New Jersey 07867

Office: (973) 267-4600 x114
Mobile: (973) 207-1659
email: tgrant@@colonial-title.com

Title Insurance – The Choice is Yours

What does “title to real estate” mean?

Think of title to real estate as your exclusive right to own and possess the land you buy. A defect in the title to your land means that someone other than you, the owner, may assert a competing right or interest in your land.

What can cause a defect in title?

• A past deed conveying title to your home described the wrong property, or was not properly witnessed or notarized. Or the deed was not signed by all necessary parties, such as a spouse, co-owner or legal heir of a past deceased owner.

• A deed conveying title to your land was not recorded. To convey good title, a deed must be registered in the county land records where the property is located.

• Prior documents affecting your home’s title, such as deeds, mortgages, and lien releases were signed by someone without legal authority to execute them, or they were prepared incorrectly rendering them invalid or voidable.

• Documents, including deeds, are sometimes signed under a Power of Attorney, which must also be recorded in the county land records. If a Power of Attorney is not recorded, or does not grant the proper authority to act, or was expired when used, the document executed under that Power of Attorney may be invalid.

• A past deed, mortgage, or lien release was forged or signed under duress.

• A past mortgage, judgment, or tax lien was never released, or was released incorrectly, giving the creditor or taxing authority the right to attempt collection of a past owner’s debt by demanding payment from you, or forcing you to sell your home.

What does title insurance do for me?

Title insurance protects you after you buy your home against title defects that occurred before you bought your home. The policy that protects you, the owner, is called the Owners Title Policy, and remains in effect for as long as you or your heirs own the property. If you mortgage your home, your lender will also require that you buy title insurance to protect its collateral, your home.

The Lenders Title Policy remains in effect only as long as the specific mortgage insured by the policy remains a lien on your property. That’s why, when you refinance, even if you use the same lender, you must buy another Lenders Title Policy (at a reduced premium) to cover the new loan, but your Owners Title Policy remains in effect.

Who buys my title insurance policy?

Typically you, the homebuyer, pays for the policies that protect you and your lender.

Who actually orders my title policy?

In New Jersey, local custom dictates who orders your title insurance. In some parts of the state, it is your attorney. In others, it is your real estate agent. Other times, your mortgage lender or builder (if you’re buying a new home) orders title insurance.

If I can choose my mortgage lender, my home inspector, and my homeowners insurance agent, why can’t I choose my title company?

You can, and should choose your title company.

To the detriment of home buying public, most New Jersey title companies do not market directly to homebuyers. They view their customer as the real estate agent, attorney or loan officer who places the order for title insurance. Colonial Title takes a different approach. Colonial Title believes YOU are their customer. Why? Because the title policy protects you and your lender, and you are the one who pays for those policies. Not the agent, not the attorney, not the broker. But you, the homebuyer.

How much does title insurance cost?

Title insurance rates are strictly regulated by the New Jersey Department of Banking and Insurance. The higher your home’s purchase price, the higher your title insurance premium. One title company cannot charge more than another for the same insured amount. Unlike homeowners insurance, a policy you pay for every year, you only pay for title insurance once, usually at closing.

Tell me more about Colonial Title.

Based in Morris County, Colonial Title and Abstract Service, LLC is one of the largest title insurance agencies in New Jersey. Insuring homebuyers and homeowners in all 21 counties for over 30 years, the agency’s three owners, Eugene J. Riesebeck, Michael Grant and Sal DeStefano, have a

Dotty Butler of Investors Bank

Dotty Butler
Assistant Vice President
Branch Manager
Investors Bank
Livingston Plaza Branch
493 S Livingston Ave
Livingston, NJ 07039

(973) 992-5550
dbutler@myinvestorsbank.com

During our first meeting of 2012, Dotty Butler of Investors Bank was our speaker.  Dotty shared with us a great idea that Investors Bank supports – Holiday Clubs.  This is a wonderful way;

• For you to prepare for this year’s holiday giving and avoiding unwanted debt.
• Teach your children the value of saving by having them set-up their own Holiday Club accounts.

All you need is $1 to start and the account has an interest rate of 0.15%.   If you do this, you’ll be happier this time next year.

Dotty shared with us that Investor’s Holiday Club is the same thing as what was once referred to as a Christmas Club account or Christmas Fund.

Diane Masucci - Reverse Mortage Consultant

Diane Masucci began her LeTip presentation by asking a series of questions –

• How old do you have to be to obtain a Reverse Mortgage?  62 years old
• Are closing costs astronomically expensive?  Lower than you think.
• Why do folks take a reverse mortgage? For an annuity, a line of credit, or a single payment.
• How much equity can someone receive from their home?  50% – 65%

To help with your financial planning, you should include reverse mortgages in your consideration set.

Top reasons folks get reverse mortgages -

1. Eliminate their mortgages payment
2. Help pay for unexpected home health care
3. Receive an ongoing annuity to help maintain their independence
4. Help maintain their independence

When Diane starts working with a client, she always asks, “What is the problem I can help solve using reverse mortgages.”

During Diane’s talk, we learned that reverse mortgages are like home equity loans.

The instrument can be tailored to the needs of the client.  You can create an annuity by using the equity in your home.  Remember, there is no payment as long as the client stays in their home.  These loans are insured by the FHA.  Plus, they are non-recourse loans; meaning that you will never owe more then what the house sells for, regardless of market changes.

One big improvement in reverse mortgages is that the costs have dropped.  There are now products available that are competitive with home equity loans where the only costs are the cost of third party closing costs.

Regardless of your situation (over 62 or a member of the sandwich generation), improvements in the reverse mortgage instrument warrant serious consideration as you plan your financial future.

Call Diane Masucci to learn more, (973) 462 2274

Elliot & Vincent Putting the Pedel to the Metal

P J Lee
Sales Consultant
Prestige Volvo
285 East Route 10
East Hanover, NJ  07936

973 884 2400 ext 143
pj@prestigevolvo.com

Today Parsippany LeTip did something different.  Instead of our regular meeting at the Hanover Marriott , our meeting was hosted on location at Prestige Volvo.

Usually we learn and have fun during our meeting,  Today we went joy riding and had a blast!

a Happy Tom Grant

The Inner Workings of Prestige Volvo

Tom Grant & Rick Beam are the first out of the lot