Fall 2022 Buyer Guide by Curtis Lee

Things To Consider When Buying a Home FALL 2022 EDITION www.MurphyLeeGroup.com

Table of Contents 3 Should I Buy a Home This Fall? 5 Expert Insights for Today’s Homebuyers 6 More Options for Your Home Search 8 Housing Market Forecast 10 Americans Choose Real Estate as the Best Investment 11 The Benefit of Buying a Home Now 13 The One Thing You Need To Know About a Recession 15 Why the Housing Market Won’t Crash 18 What You Need To Know About Down Payment Assistance Programs 20 Things To Avoid After Applying for a Mortgage 21 Tips for Making Your Best Offer 23 Top Reasons To Own Your Home

Should I Buy a Home This Fall?

2. Home Prices Are Appreciating More Moderately

1. The Number of Homes for Sale Is Increasing

If you’re wondering if it’s the right time to buy a home, you should know you have an opportunity to grow your wealth, stabilize your expenses, and benefit from more options for your home search this fall.

While the number of homes for sale is still low compared to pre-pandemic norms, there is good news for your home search. The number of homes for sale has grown considerably this year. As the National Association of Realtors (NAR) says: “It’s very promising that housing inventory is improving. There are nearly 30% more homes available for sale compared to January.” If you begin your search now and work with a trusted real estate advisor, you’ll be in a great spot to benefit from those additional options to help you find your dream home.

The good news is, once you do buy a home, any ongoing appreciation will help grow the value of your investment.

If you’re waiting to buy because you think home prices will fall, you should know experts say that’s not projected to happen. According to the latest forecasts, experts project home prices will keep appreciating nationally, just at a more moderate pace than they did over the past year.

3. Homeownership Can Grow Your Wealth

Bottom Line Let’s connect if you’re ready to learn more about the benefits and rewards of homeownership. Having a local expert on your side is the best way to make your dream a reality this season.

Once you own a home, you’ll own a tangible asset that typically grows in value over time. As home prices appreciate, and as you pay your monthly mortgage payment, you’ll build equity in your home. This gives your own net worth and stability a boost.

4. Buying a Home Helps Shield You from Rising Costs

As Freddie Mac says: “Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”

$325 $375 $425 $475 $525 $575 $625 $675 $725 $775 $825 $875 $925 $975 $1,025 $1,075 $1,125 $1,175 $1,225 $1,275 $1,325 $1,375 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Q2 Median Asking Rent Since 1988 Source: Census

Census data shows the median monthly rent is consistently going up (see chart below) and has been since the late 1980s. To escape rising rents, consider purchasing a home so you can stabilize your monthly housing payment. Homeownership allows you to lock in what’s typically your largest monthly expense: your housing payment.

If you want to buy a home today, here are a few things experts say you should know about what to expect and why homeownership is so important.

“ Homeownership is still considered one of the most reliable ways to build wealth. When you make monthly mortgage payments, you're building equity in your home. . . . When you rent, you aren't investing in your financial future the same way you are when you're paying off a mortgage.

Danielle Hale, Chief Economist, realtor.com

Lawrence Yun, Chief Economist, NAR

CNET “ This is an opportunity for people with a secure job to jump into the market, when other people are a little hesitant because of a possible recession. They’ll have fewer buyers to compete with.

Expert Insights for Today’s Homebuyers

“ Homeownership builds financial security the net worth of a typical homeowner is nearly 40 times the net worth of a non owner. - National Association of Realtors (NAR)

“ Active inventory continued to grow, . . . . the improvement for buyers essentially means they have four choices today for every three they had one year ago.

1.6 1.7 1.9 2.2 2.6 2.9 3.3 January February March April May June July There’s no denying the housing market has delivered a fair share of challenges to homebuyers over the past two years. Two of the biggest hurdles were the limited number of homes for sale and the intensity and frequency of bidding wars. But those two things have reached a turning point. The Number of Homes for Sale Is Growing According to data from the National Association of Realtors (NAR), the supply of homes for sale has increased consistently this year (see graph below). For you, that means you’ll have more options to choose from, so it shouldn’t be as difficult to find your next home as it has been previously. More Options for Your Home Search 6 Supply of Homes for Sale Is Increasing This Year Months’ Supply of Homes for Sale Source: NAR

If you’ve been outbid before or struggled to find a home that meets your needs, breathe a welcome sigh of relief. The big takeaway here is you have more options and less competition today. George Ratiu, Manager of Economic Research at realtor.com, confirms this is positive for buyers: “. . . more available properties and less competition, . . . point toward a welcome change for buyers who are still in the market. The upcoming fall season may offer an even better window of opportunity, as long as the inventory landscape continues improving, as we’ve seen in recent months." May June July

Source: NAR

With more options to choose from and less intense bidding wars, you could have a unique opportunity in front of you. Let’s connect today to discuss your options in our local market.

Bidding Wars Ease in Recent Months

Sold Homes

The good news is having more options may also lead to less intense bidding wars. Data from the Confidence Index from NAR shows this trend has already begun. Their report shows bidding wars are easing month over month (see graph below):

Bottom Line

Number of Offers

The Intensity of Bidding Wars Is Easing

Average on (April July 2022)

5.5 4.2 3.4 2.8 April

8 The housing market is at a turning point, and if you’re thinking of buying a home, that may leave you wondering: is it the right time to make a move? Let’s turn to the experts for what the future is projected to hold. Experts Project Mortgage Rates Will Stabilize This year, mortgage rates have climbed over 2% due to the Federal Reserve’s response to inflation. While mortgage rates continue to fluctuate, experts project they’ll start to stabilize in the months ahead, hovering in the low 5% range initially, and then possibly dipping into the high 4% range later next year. That could bring some welcome relief if you’re ready to buy a home (see chart below): Housing Market Forecast Mortgage Rate Projections Quarter FreddieMac FannieMae MBA NAR ofAverageAllFour 2022 4Q 5.4 4.8 5.2 6.0 5.4% 2023 1Q 5.2 4.7 5.1 6.0 5.3% 2023 2Q 5.2 4.5 5.0 6.0 5.2% 2023 3Q 5.0 4.4 4.9 4.8%

Home Price Forecasts Call for Ongoing Appreciation

Bottom Line As a buyer, you need to know what’s happening in the housing market so you can make the most informed decision possible. Let’s connect to discuss your goals so you can determine the best plan for your move.

This year, home price appreciation is slowing (or decelerating) from the feverish pace the market saw during the pandemic. According to the latest forecasts, experts say nationwide, prices will still appreciate by roughly 11.3% in 2022 (see graph below): 2022 Home Price Forecasts

16.0% 12.8% 11.5% 10.0% 9.9% 9.6% 9.3% Fannie Mae Freddie Mac NAR Zelman MBA CoreLogic HPES Average of All Forecasts: 11.3%

Based on Expert Projections

Even though housing supply has grown this year, it’s still low overall due to a long period of underbuilding homes. And experts say that’s going to help keep upward pressure on home prices. If you’re thinking of making a move, you shouldn’t wait for prices to fall.

In 2021, home prices appreciated rapidly because there were far more people looking to make a purchase than there were homes available for sale. CoreLogic helps explain how unusual last year’s price gains were: “Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”

The Benefit of Buying a Home Now

The Future of Price Appreciation of

over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. Their survey forecasts home prices will continue appreciating over the next five years (see graph below): As the graph shows, the rate of appreciation will moderate over the next few years as the market shifts away from the feverish pace it saw during the pandemic. After this year, experts project home price appreciation will continue, but at levels that are more typical for the market. Estimated Home Price Performance December to December, as Forecast in Q2 2022 Source: HPES, Q2 2022 9.3% 4.19% 3.12% 3.46% 4.00% 2022 2023 2024 2025 2026

Home

You may be asking yourself: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you make your decision. 11

Each quarter, Pulsenomics surveys a national panel

Bottom Line Buying today can set you up for long term success because your asset’s value (and your own net worth) is projected to grow with ongoing home price appreciation. Let’s connect to begin your homebuying journey today.

Ongoing appreciation should give you peace of mind that your investment in homeownership is worthwhile because you’re buying an asset that’s projected to grow in value in the years ahead. To give you an idea of how this could impact your net worth, here’s how a typical home next years using the expert price appreciation projections from the Pulsenomics survey see graph below

(

What Does That Mean for You?

could grow in value over the

): Source: HPES 2022 2Q Potential Home Price Growth Over the Next 5 Years Based on Projections from the Home Price Expectation Survey Potential growth in household wealth over the next five years based solely on increased home equity if you purchased a $390K home in January of 2022. $102,787 $390,000 $426,270 $444,131 $457,988 $473,834 $492,787 2022 2023 2024 2025 2026 2027 Even at a more typical pace of appreciation, you still stand to gain significant equity. That’s what’s at stake if you delay your plans.

five

13 The one thing you need to know as you watch the news and read the headlines today is that a recession does not mean falling home prices. The One Thing You Need To Know About a Recession Recession Does Not Mean Falling Prices Home Price Change During the Last 6 Recessions Sources: CoreLogic, The Balance 6.1% 3.5% -1.9% 6.6% -19.7% 6.0% 1980 1981 2001 2020 20081991 Most people remember the housing crisis in 2008 and some worry a recession now would lead to a similar situation. But this housing market isn’t a bubble that’s about to burst. Today, conditions in the housing market are very different. One big difference is there’s far less available inventory this time. In 2008, we had a surplus of inventory, and that’s why prices fell. To help show that home prices don’t fall every time there’s a recession, take a look at the historical data (see graph below):

Bottom Line If you're wondering what a recession would mean for the housing market, you should know history can help give us important context for what could happen next. Looking back at the past six recessions, the data proves a recession doesn’t mean home prices will fall. There have been six recessions in this country over the past four decades. As the graph on the previous page shows, looking at the recessions going all the way back to the 1980s, home prices appreciated four times and depreciated only two times. So, historically, there’s proof that when there’s a recession, it doesn’t mean home values will fall or depreciate.

15 With all the buzz in the media, you may start to worry the housing market is in a bubble. While it’s only natural for concerns to creep in that there could be a repeat of what took place in 2008, the good news is there’s concrete data to show why this is nothing like the last time. There’s a Shortage of Homes on the Market Today, Not a Surplus The supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will cause prices to fall. Anything less than that is a shortage and will lead to continued price appreciation. For historical context, there were too many homes for sale during the housing crisis, and that caused prices to tumble. Today, supply has grown, but there’s still a shortage of inventory available (see graph below): Why the Housing Market Won’t Crash 4.8 4.5 4.6 4.7 4.6 4.3 4.5 6.5 8.9 10.4 8.8 9.4 8.3 5.9 4.9 5.2 4.8 4.4 3.9 4.0 3.9 3.1 2.3 3.3 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Today Supply of Homes Is Nothing Like Last Time Annual Average of Months’ Supply for 1999-2021 Source: NAR

Lending Standards Today Are Under Control

Those stricter standards help prevent a wave of foreclosures like we saw last time.

Housing Bubble: 868.7

One of the reasons inventory is still low is because of sustained underbuilding. When you couple that with ongoing buyer demand as millennials age into their peak homebuying years, it continues to put upward pressure on home prices. That limited supply compared to buyer demand is one of the reasons why experts forecast, nationally, home prices won’t fall this time.

Mortgage Standards Were Much More Relaxed During the Crash

Today, things are different. Purchasers face much higher standards from mortgage companies, and buyers are more qualified. Mark Fleming, Chief Economist at First American, says: “Credit standards tightened in recent months due to increasing economic uncertainty and monetary policy tightening.”

Leading up to 2006, banks were creating artificial demand by lowering lending standards and making it easy for just about anyone to qualify for a home loan or refinance their current home. That led to mass defaults, foreclosures, and falling prices.

During the lead up to the housing crisis, it was much easier to get a home loan than it is today. The graph below shows data on the Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers Association (MBA). The higher the number, the easier it is to get a mortgage.

Historic Data for the Mortgage Credit Availability Index (MCAI) Source: MBA 9008007006005004003002001000 2004June 2006June 2008June 2010June 2012June 2014June 2016June 2018June 2020June 2022June

The Foreclosure Volume Is Nothing Like It Was During the Crash

If you’re worried we’re making the same mistakes that led to the housing crash, these graphs should help alleviate your concerns. Concrete data and expert insights clearly show why nothing like

The most obvious difference is the number of homeowners that were facing foreclosure after the housing bubble burst. Foreclosure activity has been on the way down since the crash because buyers today are more qualified and less likely to default on their loans. The graph below helps tell

this is

the last time. 533K 718K 1.3M 2.3M 2.8M 2.9M 1.9M 1.8M 1.4M 1.1M 1.1M 933K 677K 624K 493K 214K 151K 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Over 1 Million

Not to mention, homeowners today have options they just didn’t have in the housing crisis when so many people owed more on their mortgages than their homes were worth. With the pandemic and the forbearance program, many people were able to stay in their homes and work out alternative options. And for those homeowners who still need to make a change due to financial hardship or other challenges, today’s record level of equity is giving them the opportunity to sell their houses and avoid foreclosure altogether. That’s why there won’t be a wave of foreclosures coming to the market.

the story: Foreclosure Activity Then and Now U.S. Properties with Foreclosure Filings: ATTOM 2001 Year End Report Source: ATTOM Data Solutions Bottom Line

When it comes to buying a home, it can feel a bit intimidating to know how much you need to save. Here’s some information you’ll want to know about programs that could help you reach your down payment goals.

There are several misconceptions about down payment assistance programs. For starters, many people believe there’s only assistance available for first time homebuyers. While first-time buyers have many options to explore, repeat buyers have some, too. According to the latest Homeownership Program Index from downpaymentresource.com:

You Can Qualify Even if You’ve Purchased a Home Before

“It is a common misconception that homebuyer assistance is only available to first-time homebuyers, however, 38% of homebuyer assistance programs in Q1 2022 did not have a first time homebuyer requirement.”

That means repeat buyers could qualify for over one third of the assistance programs available. And if you’re a repeat buyer, you may still be able to take advantage of some first-time homebuyer programs, depending on your personal situation. That’s because many of the first time homebuyer programs use the U.S. Department of Housing and Urban Development’s definition of a first-time homebuyer.

What You Need To Know About Down Payment Assistance Programs

• A single parent who’s only ever owned a home with a former spouse. That means no matter where you are in your homeownership journey, there could be an option available for you.

Under their definition, you could qualify as a first-time buyer if you’re:

There are also programs and special benefits for individuals working in certain professions or with unique statuses, including teachers, doctors and nurses, and veterans. Ultimately, there are many federal, state, and local programs available for you to explore. The best way to do that is to connect with a local real estate professional and your lender to learn more about what’s available. 19

• Someone who hasn’t owned a primary residence in 3 years.

Additionally, there are other types of down payment assistance programs that you could qualify for based on your location. According to the National Association of Realtors (NAR):

“Many local governments and non-profit organizations offer down-payment assistance grants and loans, targeted to area borrowers and often with specific borrower requirements.”

Bottom Line Down payment assistance programs have helped many homebuyers achieve their dreams, and if you qualify, they could help you too. Let’s connect today to discuss your homebuying goals and options.

You May Be Eligible Based on Your Location or Profession

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best first step is working with a lender and getting pre approved for a loan. Your pre approval indicates how much you’re able to borrow for your mortgage and shows sellers you’re serious. As the Mortgage Reports explains: “. . . most sellers won’t even consider an offer unless the buyer is pre approved at the right price point. Sellers and their agents want to know you’re ready and able to finance your offer amount.”

While the housing market is going through a shift, it’s still competitive for buyers because the overall inventory of homes for sale is low. Enjoy having more options as supply continues to grow this year, but keep these tips in mind to help you put in a strong offer once you find the one.

2. Lean on a Real Estate Professional As conditions in the housing market moderate today, it’s especially important to rely on a trusted real estate advisor. As Freddie Mac says: “The success of your homebuying journey largely depends on the company you keep. . . . be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.” Agents are experts in what’s happening in the housing market and in your area. They’ll have insight into the latest trends, what they mean for you, and what’s worked for other buyers.

1. Know Your Budget

Tips for Making Your Best Offer

Lean on your agent to help you understand the current market value of the home you're interested in and recent sales trends in the area so you can craft your best offer.

As the peak intensity of demand is cooling this year, the number of homes sold over asking price is decreasing and so is the typical number of offers on a recently sold home. But you still need to be prepared to come in with your best offer up front because inventory is still low overall and that makes it a sellers' market.

4. Be a Flexible Negotiator

It’s still a sellers’ market today, just a more moderate one. Let’s connect so you have expert advice on how to make your strongest offer when you find your dream home.

When putting together an offer, your trusted real estate advisor will help you consider which levers you can pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up, like the home inspection. Freddie Mac explains: “A home inspection contingency gives you the opportunity to have the entire home you'd like to purchase examined by a professional before you close on your contract. Without this contingency, you could be contracted on a house you can't afford to fix.”

3. Make a Strong, but Fair Offer

Bottom Line

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preapprovalmortgage shoppingHome OFFERMAKE NEGOTIATIONSCONTRACTATTORNEYREVIEWMORTGAGEAPPLICATIONHOMEINSPECTIONAPPRAISALUNDERWRITINGFIND A COMPANYTITLEREPORTTITLE $ N ion Reach w h Loc Service OUR 5 DEDICATED BUSINESSUNITS AFBANationalForeclosureCommercialResidential Megan Kurtz Maher C: mkurtz@mysurety.com609.254.2374 853 Mill Creek Road, Manahawkin, NJ Ofﬁce Number - 609.978.7300 256 W 9th Street, Suite C, Ship Bottom, NJ Ofﬁce Number - 609.416.5612 | NMLS #9380 | Company NMLS #2551

Curtis Lee, Eileen Murphy & Associates BERKSHIRE HATHAWAY HOMESERVICES, ZACK SHORE,BERKSHIREREALTORS®HATHAWAY HOMESERVICES, ZACK SHORE, REALTORS® 675 Route 72 Manahawkin,ENJ 08050-3501 Curtis Lee, Eileen Murphy & Associates BHHS Zack Shore, REALTORS Manahawkin Office, 675 Route 72 East Manahawkin NJ 08050 (609) 597-6464 XXX-XXX-XXX-X Curtis Lee

THIS STATEMENT IS NOT A CONTRACT AND IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. 11:5-6.9

BUYER’S AGENT A buyer’s agent WORKS ONLY FOR THE BUYER. A buyer’s agent has fiduciary duties to the buyer which include reasonable care, undivided loyalty, confidentiality and full disclosure. However, in dealing with sellers a buyer’s agent must act honestly. In dealing with both parties, a buyer’s agent may not make any misrepresentations on matters material to the transaction, such as the buyer’s financial ability to pay, and must disclose defects of a material nature affecting the physical condition of the property which a reasonable inspection by the licensee would disclose.

include all persons licensed with the brokerage firm which has been authorized through the listing agreement to work as the seller’s agent. In addition, other brokerage firms may accept an offer to work with the listing broker’s firm as the seller’s agents. In such cases, those firms and all persons licensed with such firms are called “sub-agents.” Sellers who do not desire to have their property marketed through sub-agents should so inform the seller’s agent.

There are four business relationships: (1) seller’s agent; (2) buyer’s agent; (3) disclosed dual agent; and (4) transaction broker. Each of these relationships imposes certain legal duties and responsibilities on the licensee as well as on the seller and buyer represented. These four relationships are defined in greater detail below. Please read carefully before making your choice.

If you decide to enter into an agency relationship with a firm which is to work as a disclosed dual agent, you are advised to sign a written agreement with that firm.

N.J.A.C.

YOU MAY OBTAIN LEGAL ADVICE ABOUT THESE BUSINESS RELATIONSHIPS FROM YOUR OWN LAWYER.

A disclosed dual agent WORKS FOR BOTH THE BUYER AND THE SELLER. To work as a dual agent, a firm must first obtain the informed written consent of the buyer and the seller. Therefore, before acting as a disclosed dual agent, brokerage firms must make written disclosure to both parties. Disclosed dual agency is most likely to occur when a licensee with a real estate firm working as a buyer’s agent shows the buyer properties owned by sellers for whom that firm is also working as a seller’s agent or Asub-agent.realestate licensee working as a disclosed dual agent must carefully explain to each party that, in addition to working as their agent, their firm will also work as the agent for the other party. They must also explain what effect their working as a disclosed dual agent will have on the fiduciary duties their firm owes to the buyer and to the seller. When working as a disclosed dual agent, a brokerage firm must have the express permission of a party prior to disclosing confidential information to the other party. Such information includes the highest price a buyer can afford to pay and the lowest price a seller will accept and the parties’ motivation to buy or sell. Remember, a brokerage firm acting as a disclosed dual agent will not be able to put one party’s interests ahead of those of the other party and cannot advise or counsel either party on how to gain an advantage at the expense of the other party on the basis of confidential information obtained from or about the other party.

SELLER’S AGENT A seller’s agent WORKS ONLY FOR THE SELLER and has legal obligations, called fiduciary duties, to the seller. These include reasonable care, undivided loyalty, confidentiality, and full disclosure. Seller’s agents often work with buyers, but do not represent the buyers. However, in working with buyers a seller’s agent must act honestly. In dealing with both parties, a seller’s agent may not make any misrepresentation to either party on matters material to the transaction, such as the buyer’s financial ability to pay, and must disclose those defects of a material nature affecting the physical condition of the property which a reasonable inspection by the licensee would Seller’sdisclose.agents

The New Jersey Real estate Licensing Law does not require licensees to work in the capacity of an “agent” when providing brokerage services. A transaction broker works with a buyer or a seller or both in the sales transaction without representing anyone. A TRANSACTION BROKER DOES NOT PROMOTE THE INTERESTS OF ONE PARTY OVER THOSE OF THE OTHER PARTY TO THE TRANSACTION. Licensees with such a firm would be required to treat all parties honestly and to act in a competent manner, but they would not be required to keep confidential any information. A transaction broker can locate qualified buyers for a seller or suitable properties for a buyer. They can then work with both parties in an effort to arrive at an agreement on the sale or rental of real estate and perform tasks to facilitate the closing of a transaction. A transaction broker primarily serves as a manager of the transaction, communicating information between the parties to assist them in arriving at a mutually acceptable agreement and in closing the transaction, but cannot advise or counsel either party on how to gain an advantage at the expense of the other party. Owners considering working with transaction brokers are advised to sign a written agreement with that firm which clearly states what services that firm will perform and how it will be paid. In addition, any transaction brokerage agreement with a seller or landlord should specifically state whether a notice on the property to be rented or sold will or will not be circulated in any or all Multiple Listing System(s) of which that firm is a member.

CONSUMER INFORMATION STATEMENT ON NEW JERSEY REAL ESTATE RELATIONSHIPS

3. AS A DISCLOSED DUAL AGENT, I, AS A LICENSEE, REPRESENT BOTH PARTIES. HOWEVER, I MAY NOT, WITHOUT EXPRESS PERMISSION, DISCLOSE THAT THE SELLER WILL ACCEPT A PRICE LESS THAN THE LISTING PRICE OR THAT THE BUYER WILL PAY A PRICE GREATER THAN THE OFFERED 4.PRICE.ASA TRANSACTION BROKER, IA S A LICENSEE, DO NOT REPRESENT EITHER THE BUYER OR THE SELLER. ALL INFORMATION I ACQUIRE FROM ONE PARTY MAY BE TOLD TO THE OTHER PARTY. Before you disclose confidential information to a real estate licensee regarding a real estate transaction, you should understand what type of business relationship you have with that licensee.

TRANSACTION BROKER

1. AS A SELLER’S AGENT OR SUBAGENT, I, AS A LICENSEE, REPRESENT THE SELLER AND ALL MATERIAL INFORMATION SUPPLIED TO ME BY THE BUYER WILL BE TOLD TO THE 2.SELLER.ASA BUYER’S AGENT, I, AS A LICENSEE, REPRESENT THE BUYER AND ALL MATERIAL INFORMATION SUPPLIED TO ME BY THE SELLER WILL BE TOLD TO THE BUYER.

DISCLOSED DUAL AGENT

In New Jersey, all real estate licensees are required to disclose how they intend to work with buyers and sellers in a real estate transaction. (In rental transactions, the terms “buyers” and “sellers” should be read as “tenants” and “landlords,” respectively.)

A buyer wishing to be represented by a buyer’s agent is advised to enter into a separate written buyer’s agency contract with the brokerage firm which is to work as their agent.

TO TALK MORE We’re sure you have questions and concerns... We would love to talk with you more about what you read here, and help you on the path to buying a home. Our contact information is below. We look forward to hearing from you... CONTACT US Meet the Murphy-Lee Group Our group represents the region's finest properties with exceptional skill using the most innovative technologies currently available. The Murphy-Lee Group offers ultimate privacy and security, speed, and efficiency. Our years of full-time experience have given us a clear understanding of the mindset of home buyers /sellers and a thorough understanding of the regional marketplace. www.murphyleegroup.com Curtis Lee Broker-Salesperson Eileen Murphy Realtor Contact Information: Curtis Lee Office:Broker-Salesperson800.633.1142 x 1268 Cell: 609.709.2866 Fax: Curtis@MurphyLeeGroup.com609.312.4158 675 Route 73 East Manahawkin, NJ 08050 Eileen Murphy Office:Realtor800.633.1142 x 1232 Cell: 732.239.0257 Fax: Eileen@MurphyLeeGroup.com609.312.4158 1031 Lacey Road Forked River NJ 08731