A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet.
The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown.
1. Interest Rates
One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. In our recent post we posed the question, “Are Low Interest Rates Here To Stay?” The latest information from Freddie Mac makes it appear they are. We are currently at a 21-month low in interest rates.
2. Building Materials
Talk of tariffs could also affect the housing market. According to a recent article, the National Association of Home Builders reports that as much as $10 billion in goods imported from China are used in homebuilding. Depending on the outcome of the tariff and trade discussions between several countries, there could be as much as a 25% boost in the cost of building materials.
3. Economic Slowdown
In a prior blog post on this topic, we began the year with many economic leaders thinking we could expect a recession in late 2019 or early 2020. As spring approached, we reported that economists had started to push that projection past 2020. Now, three leading surveys indicate that it may begin in the next eighteen months.
We are in a strong housing market. Wages are increasing, home prices are appreciating, and mortgage rates are the lowest they have been in 21 months. Whether you are thinking of buying or selling, it’s a great time to be in the market.
If you have saved up your down payment and are ready to start your home search, one other piece of the puzzle is to make sure that you have saved enough for your closing costs.
Freddie Mac defines closing costs as:
“Closing costs, also called settlement fees, will need to be paid when you obtain a mortgage. These are fees charged by people representing your purchase, including your lender, real estate agent, and other third parties involved in the transaction. Closing costs are typically between 2 and 5% of your purchase price.”
We’ve recently heard from many first-time homebuyers that they wished that someone had let them know that closing costs could be so high. If you think about it, with a low down payment program, your closing costs could equal the amount that you saved for your down payment.
Here is a list of just some of the fees/costs that may be included in your closing costs, depending on where the home you wish to purchase is located:
Government recording costs
Credit report fees
Lender origination fees
Title services (insurance, search fees)
Tax service fees
IS THERE ANY WAY TO AVOID PAYING CLOSING COSTS?
Work with your lender and real estate agent to see if there are any ways to decrease or defer your closing costs. There are no-closing mortgages available, but they end up costing you more in the end with a higher interest rate, or by wrapping the closing costs into the total cost of the mortgage (meaning you’ll end up paying interest on your closing costs).
Home buyers can also negotiate with the seller over who pays these fees. Sometimes the seller will agree to assume the buyer’s closing fees in order to get the deal finalized.
Speak with your lender and agent early and often to determine how much you’ll be responsible for at closing.Finding out you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.
It is feeling more and more like summer every day! The merry month of May is that wonderful blend of summer-like weather, mixed with rain that brings everything green to life! Trees have blossomed, grass is green. And the farms, wooded areas, low lying mountain ranges and country roads beckon us with a beauty that is the backdrop to living in Orange and Sussex Counties. With almost a month to go before the official start of summer, here are ideas for outdoor and indoor living, and events and places to go in Orange and Sussex Counties.
Love spending time outside? Try these ideas for outdoor living…
Homebnc.com has 42 Summer Porch Ideas to inspire you. And the wonderful thing about some of these ideas and projects are their flexibility. Use your imagination to customize them for your porch, deck, lawn, or even inside your home. If you like to garden and want to try raised beds, Homebnc.com as some terrific ideas to get your garden growing. Try one or more of their best DIY raised garden bed ideas.
…And for indoor living!
When the family spends a lot of time outside, eventually they have to come in. And we all know what a day of yard work, gardening, playing, or beach going means. Dirt, sand, mud, etc. into getting tracked in your spring-cleaned home! Again, Homebnc.com has the best mudroom ideas – even if you don’t have an actual mudroom!
Now that you’re back inside, Housebeautiful.com will inspire you with 18 Fresh Summer Paint Colors That Make Every Day Feel Like a Vacation. Further, if you decide you’d like to take on another DIY Project, Housebeautiful.com has 10 Contact Paper Decorations Ideas to Spruce Up Your Home Without Overspending. From creating your own artwork, to updates in kitchens and more, contact paper and removable wallpaper can help beautify your home.
Orange and Sussex Counties – Things to Do, Places to Go
Woodstock’s Golden Anniversary!
It’s hard for some of us to believe that Woodstock was half a century ago! It seems like yesterday that some of the greatest musicians of our time got up on that stage at Bethel Woods and performed for over 400,000 people in a 3-day concert that helped define a generation. AAA Northeast has a good article about Woodstock in Your AAA Magazine. And, of course, visit the website for Bethel Woods Center for the Arts for program updates. While the celebration doesn’t take place until August, you might want to order your tickets for a concert or two now! While not in Orange County, the site of Woodstock is close to both Orange and Sussex Counties.
Support our local farmers and enjoy your own fresh and delicious farm to table meals. Orange County Tourism breaks down the Markets by the days they’re held and gives you opening dates and times of operation. And each market has its own distinct character. So you may want to visit a few of these.
Orange County Farmers Market 2019 Schedule
Sussex County Farmer’s Markets are listed by County in this list from NJMom.com.
And Yelp.com lists reviews of some great places in addition to the above. While the heading reads the Best 10 Farmers Markets in Sussex County, NJ, the list also includes places to go in adjoining Orange County as well.
Vernon Day Food Truck Festival!
This fun event features great food, local vendors and live music. So check it out on Sunday, June 2 from 1 to 4 p.m. 7 Sammis Rd in Vernon. Rain date is June 9. Event is sponsored by Vernon PAL. So, for more information check their website.
We are fortunate to have several local wineries in our area. They provide a relaxing way to enjoy an afternoon or evening. A glass or two of wine. Some offer food. And many offer entertainment during the summer months, so check their websites for schedules.
Yelp.com shares reviews by customers for Orange County Wineries.
Crystal Springs Resorts in Sussex, NJ shares some local wineries on their website. Again, because of the close proximity, some are Orange County wineries and are listed above. They also list Ventimiglia Vineyard in Wantage, NJ.
Memorial Day Events
Sometimes the meaning of Memorial Day gets lost in store sales, and a 3-day weekend for many. Let’s remember the reason for this day and think about those who gave their lives in the service of our nation… There are many events throughout Orange and Sussex Counties and surrounding areas…
New Jersey 101.5 Memorial Day Parades and Ceremonies in New Jersey
News12’s Guide to Memorial Day Parades in the Hudson Valley
Recordonline.com Memorial Day Events and Services, Orange County
In Warwick there will be a Memorial Day Remembrance at the Buckbee Center on Colonial Avenue on Thursday, May 23 from 7-8 p.m. Visit the Warwick Chamber of Commerce website for more details.
Green Team Realty’s Launch is a competition with a purpose. It provides incentives for Sales Associates to learn or improve their use of Green Team’s Customer Relationship Management system (“CRM”). The ultimate goal is providing the best in customer service and appreciation. By inputting and keeping track of the information and activities pertaining to client transactions, agents are better able to refine their client appreciation programs. Further, maintaining relationships with clients past, present and future in today’s challenging real estate market makes everyone a winner. Geoff Green, President of Green Team Realty, promotes the competition at the beginning of each year. He feels that agents who fully know and use the CRM can provide better services to their clients while also getting better control of their businesses and lives. Besides, a little friendly competition and generous prizes ensure some serious participation.
Thanks to the Team Leaders!
Before announcing the winning teams and individuals, Geoff Green first thanked the team captains for volunteering their time and effort. “These ladies went above and beyond to make this a fruitful competition for all of the Sales Associates. Great job to all team captains!” In the Warwick office, Angela Murphy volunteered to once again serve as a Launch team leader. And Kim Lesley stepped up as team leader of the opposing team. At the Vernon office, Cathie Witte took on last year’s team leader and individual winner, Keren Gonen. All four leaders did their best to inspire their teams to become proficient in using the CRM. And, of course, to score the points given for CRM activities.
Angela Murphy Kim Lesley Cathie Witte Keren Gonen
The Winning Teams are:
In Warwick, Kim Lesley’s Rock’n’Rollers put up a valiant fight, but Angela’s Murphy’s Master Minds came out on top. And in Vernon, Cathie’s Witte’s Wonders came in with the most points, despite a great showing by Keren’s Gonen’s Greenies.
This year Geoff awarded cash prizes for each of the top ten Sales Associates on the winning teams. Each sales associate had to have a minimum of 600 points from February 14 to March 31, the length of the Launch competition.
And the Individual Winners from those Winning Teams are:
Dean Diltz was not a member of the winning team. However, as the highest point earner in the Warwick office, he was awarded a special prize.
Looking forward to Launch 2020!
Will our team leaders step up for the challenge again? Which team will score the most points? And what incentives will Geoff offer to motivate everyone! Stay tuned for February 14, 2020, when Launch 2020 will blast off!
The April 2019 Housing Market Update was held on Facebook Live Tuesday, April 16 at 2 p.m. If you missed the live webinar, you can view it at your convenience by clicking here. You can also sign up for updates at GreenTeamRealty.com/HMU.
Geoff Green, President of Green Team Realty, began the update with some national statistics. Discussions have been going on for months as to what the 2019 would look like. And, for the most part, it’s roaring. At least that is the case in our area, the northeast.
National Housing Market Statistics
Total Existing Home Sales
This chart shows the total existing home sales for every two months, year over year. There was a dip, with things trending down, from the end of 2017 through 2018 nationally. But there is a bump at the beginning of 2019. And it seems to be busy for everyone right now. The thinking is that this may be another banner year.
Median Price of Existing Home Sales
Prices have very consistently increased over the last 3 to 4 years. And there doesn’t seem to be a reason to anticipate any change in that trajectory any time soon.
Existing Home Prices by Region
Breaking down existing home prices in terms of regions, this shows where we are now versus last year. The Midwest is leading home prices increases, followed by the Northeast.
% Change in Sales
As prices have risen, there are fewer homes across the nation in the $0-$100,000 range. This low inventory has resulted in the change in sales for that price range. However, it is also interesting that on the very high end, transactions of $1 Million+ have faltered and slowed down. When you start to get into those metro areas where $1+ Million is not unusual, people may be starting to find it’s a little out of reach.
Housing Supply at the National Level
The lack of inventory has been seen as a reason for why the number of transactions was softening for the last 12, 14 months; The supply level peaked in 2018 and then came down towards the end of 2018. But it now looks like it may be coming up again. We really need this to happen to keep the transactions going.
Projected Home Price Appreciation
A panel of over 100 economists, real estate experts and investment and market strategists were interviewed for the most recent Home Price Expectations Survey. These experts have raised the projections they made in the 4th quarter of 2018 for 2019 and 2020. They are anticipating a better year than they first thought.
Mortgage Rate Projections
Despite a zooming market and a very solid economy, rates in Geoff’s view are still remaining low. Someone who was looking for a home a year and a half ago may now see rates up a point and think that they are now “high.” However, Geoff says that rates are still historically low.
Local Housing Market Update
Orange County, NY – Units Sold
We seem to be holding even compared to last year. Perhaps a tick better. This is good news.
Orange County, NY – Average Sales Price
So far this year we’re basically even with last year.
Orange County, NY – Ask to Sold Ratio
Ratio at which a home sells versus the last asking price. The ratio seems to be trending higher which means that demand is still very high. People are willing to pay at or near asking, if not over asking. Bidding wars are still continuing.
Orange County, NY – Days on Market
The days on market continue to drop consistently. Homes are still selling fast, selling quicker each year. All signs point to a continued Seller’s Market.
Sussex County, NJ – Units Sold
Units sold in January and February were lower than in 2018. However, in March the number rose, coming in a tick higher than March 2018.
Sussex County, NJ – Average Price
Sales prices in Sussex have been a bit of a conundrum. Price hasn’t taken hold and there has been a significant one month drop from February to March. This will be an interesting analytic to watch as the year goes on.
Sussex County, NJ – Ask to Sold Ratio
Again, the higher the number, the closer things are selling towards the asking price and the less sellers are having to negotiate off those prices. We’re looking at some very strong numbers here.
Sussex County, NJ – Days on Market
Again, here the lower the number the stronger the market. Here was have a steady pattern of fewer days on the market. Homes are selling faster and faster.
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Meet the Panel
aura Moritz has been with Classic Mortgage for 18 years.
Geoff Green began the panel discussion by asking about the trends they’ve been seeing in the Housing Market Updates and in the market itself. Geoff recalled that the numbers were softening during 2018. Therefore, there was a lot of uncertainty about how the market would be in 2019. However, the numbers seem to be indicating a very good year.
He asked Vikki and Keren what their experiences were in the field. Vikki said that the general market conditions she sees in Orange County, specifically the Warwick, Goshen, Middletown area, indicate a really strong market. There is still a shortage of inventory, which feeds the demand. She has received several new buyers recently coming from outside the area. Plus, many sellers are staying in the area, adding to the number of prospective buyers.
She has noticed more For Sale by Owner signs lately, and has had buyers request to see some of those. Vikki noted that that’s fine; she’s able to show her clients the homes and guide them through the home purchasing process. She then asked if Keren was seeing the same thing in Sussex County and if it’s a new trend. Keren said they are seeing the same thing in New Jersey. With today’s technology, some sellers are thinking they can do it on their own. And as Vikki mentioned, there are no issues approaching a FSBO and arranging a showing for their buyers.
In regard to home prices plummeting in Sussex, Keren said a new wave of REO’s has been released. This hasn’t happened in a while. They’re also being more logical in their pricing. That may be why we’re seeing that drop. In addition, there is that same problem of inventory. Recently Keren had buyer request to see a newly listed home over the weekend. However that home had an accepted offer on it before her clients could see it 4 days later. It’s still a seller’s market.
Geoff agreed that there is clearly an inventory shortage. There is real, organic growth in the market. There are many people who can afford a home, and qualify. Yet there are more prospective buyers like this out there than there are suitable homes. In Warwick, in particular, there is a lot of new construction going on. He wondered if around our local counties there is enough new construction yet. He asked what the panelists were seeing. Had they noticed new subdivisions offering more options for their buyers?
Keren said in Sussex, there was Crystal Springs. A large halted construction site there had just been bought up, and there is new things going up. And there are a lot of people interested in them because there is not that much construction around. They also have those houses that have burnt down and had to be totally gutted. Those houses are getting a lot of activity as well.
Vikki is seeing a lot of new construction in the Warwick area specifically, and also in Goshen, Cornwall. She feels it’s a result of the lack of inventory. Geoff noted that he reads a lot of articles from economists, etc. He received an email from a loan company which urged homeowners to become more reasonable in their pricing. There has also been a lot of talk by economists about the importance of municipalities needing to loosen up their zoning requirements and do what they can to speed up municipalities.
Geoff’s response to these? “Welcome to my world!” Planning boards have gotten tighter and tighter and people are concerned about their communities growing too fast. Regulations have gotten tighter, rather than loosening up. And while Geoff doesn’t believe these things are bad, he’s just saying it’s harder to develop in today’s day and age than it was 50, 60 years ago. There’s just a lot more red tape involved.
Geoff said it will be really interesting to see. America is the place to be. Globally, our economy is far outpacing any other country out there. We’re the “shining city on the hill” again and many people want to be here. Also, many people just don’t want to move.
What’s happening with mortgage financing?
Geoff then asked Laura Moritz where we are with mortgages and where she see rates going, Further, he noted there seems there is a lot of loan of money available, and a lot of loan programs. He doesn’t think that’s the problem. Laura responded that she really doesn’t see a problem at all as far as qualified buyers getting financing. Even a few mortgages were done this month for people with credit scores in the 500’s. Underwriting guidelines have really loosened up. Borrowers may also have what’s called in banking compensating factors = their credit is not so great, but they have other factors, Laura is really not seeing any rejections. She also is not seeing houses not appraising for value. The market has been very steady.
Interest rates are very low now. She has locked in and closed some 30 year loans recently at 4-1/4% with 20% down and good credit. With 15 year loans , you’re looking at high 3’s%.
Geoff mentioned that we’ve talked about the appraisal situation often on the housing market updates. He said it was maybe a year or more that it wasn’t so certain that things would appraise and it was difficult. Now that we have in this steadily increasing medium price market appraisers can buy into the fact that this house is worth more than the one down the street because it’s selling six months later and it’s an increasing market. Where it’s hard on appraisers is on the turn, when the market is on its way up or on its way down.
Laura added that some high end properties with “fluff” amenities may not translate to an appraisal. However, ever her high-end appraisals have been coming in on point because they have the comps.
She doesn’t believe that rates will move in either direction very much over the next 6 to 9 months. However, as we know, one catastrophic event or something in the global economy can shift the bond market and it can change on a dime. It does look like rates will hold steady over the summer months.
Laura closed the discussion by noting that it’s a great time to buy a house. She’s seeing a lot of young people and couples trending towards buying a home before getting married in order to skip the renting stage. She loves hearing from them a few years later that they appreciated $70,000 gain and can now buy their forever home. It’s a great time to buy a home in the Northeast. Geoff added that even speaking to average price we’re still really not back to 2006 levels. As much as it’s a seller’s market now, there is still lots of room for growth in price appreciation in our local markets.
May Housing Market Update
The next Housing Market Update will be held on May 21 at 2 p.m. You can stay informed and sign up for Housing Market Updates. Just click here.
Green Team Realty’s March 2019 Housing Market Update was presented live on Facebook Tuesday, March 19 at 2 p.m. If you were unable to view the webinar live, you can watch at your convenience by clicking here. Sign up for future updates here.
Geoff Green, President of Green Team Realty, gave a breakdown of both national and local statistics:
This is a 3-year comparison, 2017-2019. The later the year, the darker the color. January shows a decline in 2018 and 2019. In August, things started to turn in year over year increases.
The Northeast is still chugging along, though usually the northeast market lags. However, on the whole, pending home sales are down, region by region.
As far as pricing goes, this is a composite of the top 20 cities in the US. Over the last 10 months and pricing is steadily decreasing. However, it’s more of a soft landing. There is nothing indicative of a “crash.” Historical norms are around 3.6% and we’re around that mark, with 4.2%.
On the mortgage side, here is an average of four entities making projections of where rates will be in 2019. They are projecting that rates will continue to increase, below 5%. Geoff feels this is historically a very low rate. While some in the mortgage industry are projecting a decline in refinancing, money for the resale and construction markets seem to be in good shape.
Orange County, New York
In the year over year comparisons, we’re at or below the last few years, but still hanging in there. However, we’re not in an increasing market.
Last year we were in the red all year long. While the stats show year over year increases, this was not our highest February.
The asked to sold ratio, the last asking price versus what homes are selling for, took a dip in February but it’s easy to see that year over year we continue to see an increase.
Days in market still indicate a hot market, being lower than any of the previous years shown.
Sussex County, New Jersey
Units sold are down, below 2017 levels.
Average price, however, is increasing. We may actually be seeing further increases in price in Sussex, something we didn’t see much of last year.
Numbers here are similar to those we saw in Orange County, around 96 to 97%.
The numbers indicate this is still a hot market.
Pinellas County, FL
This month we’re also taking a look at the local market in Pinellas County, Florida.
Year over year stats for January 2019 over 2018 show a wide variation. While the number of closed sales decreased by 13%, prices increased by that same percentage.
ARE SENIOR HOUSEHOLDS REALLY CAUSING HOUSING SHORTAGE?
Ali Chamois of Homestead Funding Corp. shared this information with Geoff about the impact of people aging in place. Prior to the Good Times Cohort (those born between 1931 and 1941), people moved out of their houses at a much faster rate.
Exhibit 2 breaks down the number of housing units by age group and shows that 115,200 housing units would have been supplied to the market by respondents aged 68 to 75; 379,200 by respondents aged 76 to 80; and 601,500 by respondents aged 81 to 85.
A similar calculation for the War Babies and Baby Boomers estimate that an additional 550,000 homes were held off the market by these cohorts by 2018, as shown in Exhibit 3.
In total, it’s estimated that there were around 1.6 million housing units held off the market by those three cohorts as of 2018. This amounts to 2.1 percent of total owner-occupied housing units in the United States as of 2018.
Meet this month’s panelists:
Geoff Green, President of Green Team Realty, is our moderator. Laura Marie of Keller Williams, St. Petersburg, Florida joined the panel as a special guest. Keren Gonen of Green Team New Jersey Realty, Vikki Garby of Green Team New York Realty and Ali Chamois, Homestead Funding.Corp.who joined the conversation by phone, rounded up the panel.
Geoff opened the discussion by introducing Keren Gonen, who has been a panelist every month. Her feeling has been it’s going to be a strong market in 2019, but that the inventory shortage is still happening; not as many foreclosures, etc. Geoff asked if she is still in this same mindset? Keren replied “Absolutely!” Properties are not being released by banks, who are flipping them themselves. Housing shortage has more to do with number of units going down than buyer demand. Sellers are still sitting on houses, waiting to see how strong the spring market will be.
Vikki Garby joined the conversation, saying much is the same in Orange County. Inventory problem is still out there. Buyers are out there. Properties in good condition, priced right, are going quickly. Investors, experienced flippers and new flippers, are trying to find properties. More REO’s are hitting the market and are going quickly, the ones not being done by the banks. Flippers are out and scooping them out.
Laura Marie saw many similarities with Pinellas County, FL. There were 11 short sales and 31 REOs total for Jan. Ones being sold are not much under market. Still hardcore investors are looking for the right deal. The margins have shrunk… To get ahead of the market you have to get off market. A huge amount of fixer uppers. Investors not wanting to purchase some of these homes because of cost of materials, etc. Pinellas County was developed between 1920 and 1960. Buyers are looking for updated, polished, shiny homes.
Geoff asked Ali if she agreed with the projections for the average 30 year fixed mortgage. Ali brought up that for Fannie Mae and Freddie Mac, rates are based on downpayment and credit scores. These factors impact the rate. Regarding projections, clients ask whether they should lock in rates or hold off… Ali never advises them on that because forecasts and predictions can change due to a variety of causes. Geoff said that Freddie Mac is much tougher now, which may be holding the market steady. There is not a lot of subprime lending. Because not a lot of defaults are happening, credit isn’t tightening up. Ali sees a little loosening up on credit standards.
Regarding Aging in Place, Geoff sees this happening within his own family. Ali stated that overall health is better, support systems are better. People don’t want to leave their homes. The current trend is to provide outpatient services for health care. Per Keren, people are living a lot longer. It seems that we do need more houses. There are also people moving in with other generations.
Parents, adult children and grandchildren, living as extended families. The US is transforming. Laura seeing the same thing in Florida. Downsizing, 55+ communities also allow people to have independence – but less yard care. Vikki said that we have more 2 income families. Grandparents often help with childcare instead of relocating, then kids are taking care of the parents as they age.
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NEXT HOUSING MARKET UPDATE: TUESDAY APRIL 16 AT 2PM
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It’s just 55 miles from New York City. However, it might as well be a world away. Country living awaits in this custom-built home in the Town of Warwick, New York. With 4 bedrooms and 3 full baths, there’s room for everyone! And the neighboring 3.6 acre lot for sale provides the additional acreage required to make a horse-friendly property. Furthermore, you’re in the Warwick School District.
Custom-built for enjoying the country life
The main floor of this unique home has recently been updated with hickory hardwood floors. The kitchen features custom high-end maple cabinets, granite counter-tops and Kitchen-Aide stainless appliances. Any chef or baker will enjoy the full range PLUS double wall ovens.
The flow of the main floor, stone fire place and vaulted ceiling in the living room and windows that let both light and views in make this a place you’ll want to come home to! There is a bedroom and full bath on the main floor. In addition, there is a private laundry.
The second floor features two bedrooms and another full bath. The walk-out basement is great for a workshop or work-out area. There is lots of extra storage space, including an additional, detached 1-car garage for lawn tools and equipment.
A Home for everyday living and entertaining…
Built with comfort and privacy in mind, this home is perfect for both everyday living and entertaining.
In the summer, your family and friends will enjoy the in-ground pool, large yard, cedar deck and large paver patio. There’s room for everyone! There is even an attached apartment perfect for extended family or guests or for a home office. In the winter, gather around the stone fireplace. Especially after an afternoon of skiing at one of the nearby slopes. Less than 15 minutes from the Village of Warwick, you’re near great restaurants, unique shops, and historic sites.
Enjoy the coziness of country living with amenities and features that will make this your private oasis.
From left to right: Ann Nussberger, Charles Nagy, Kristi Anderson, Theodore Van Laar, Barbara Tesa, Alison Miller, Joyce Rogers, Keren Gonen
Green Team New Jersey Realty’s 2018 Circle of Excellence Award Recipients
With eight of its sales associates receiving the New Jersey Realtors® Bronze Circle of Excellence Award, GTNJR couldn’t be prouder! The recipients are: Kristi Anderson, Keren Gonen, Alison Miller, Charles Nagy, Ann Nussberger, Joyce Rogers, Barbara Tesa and Theodore Van Laar. And they happily displayed the awards which recognized their hard work and achievement.
Geoff Green, President of Green Team Realty, was in attendance at the April 4 Awards Luncheon. “What makes the number of Award recipients especially outstanding is that it represents almost half of the associates in our Vernon office. It also represents an upwards trend from six Circle of Excellence Award recipients in 2017. I fully expect to see the number of recipients continue to rise.” Kimberly Lasalandra, Broker Manager of Green Team’s Vernon office was also on hand to support the recipients. “Since we first opened our doors in 2016, we have been attracting dedicated, hardworking real estate professionals who share a common goal of providing excellent customer service. Having so many recipients of the Circle of Excellence Award proves that the systems we have in place and the people we attract are a formula for success. I look forward to seeing how many recipients we have in 2019!”
What the award means…
According to its website, “New Jersey Realtors® is proud to have members who are experts in their fields, advocates in their communities and leaders amongst their peers. Throughout the year, New Jersey Realtors® honors the accomplishments of select members through prestigious awards.” Further, “The NJ Realtors® Circle of Excellence® Sales Award® recognizes those members who have demonstrated excellence in the field of salesmanship.”
The Dynamic Duo does it again!
Green Team President, Geoffrey Green, presents the 2019 1st Quarter Sales Leader Award to Ted Van Laar and Charles Nagy
Last year, Charles Nagy and Theodore Van Laar were Green Team New Jersey Realty’s 2nd Quarter, 4th Quarter and Yearly Sales Leaders. Now the team is starting off 2019 in a big way, as 1st Quarter Sales Leaders. When Geoff Green first called Charlie and Ted the Dynamic Duo, no one really knew just how much they would live up to their new nickname.
According to Geoff, “Charlie and Ted are without a doubt top performers. These two gentlemen continue to achieve top production results amongst their formidable peers. Not only do they produce at a high level, they are seasoned professionals who have great knowledge about the Real Estate industry which they share with each and every client. Green Team New Jersey Realty is very proud to have Charlie and Ted working with our Agency.”
What makes them dynamic as a duo?
These equity partners in Green Team New Jersey Realty come from diverse real estate backgrounds. However, together they form a productive, successful team. They are united by their love of resort properties and resort living. Charlie and Ted have been recipients of the Circle of Excellence Award multiple times between 2014 and 2018. The award requires minimum sales of $2.5 million and 15 transactions to qualify. And, in 2018, they also became part of the Green Team’s President’s Club. The President’s Club honors those associates with $5 to $10 Million in sales volume.
Charlie is the designated spokesman for the team, and had the following to say: “Going forward it will be increasingly more difficult for Ted and me to maintain the top of the leaderboard, thanks to all of the competition in the GTNJR office. But we will continue our efforts to compete hard for the top spot. However, it will also be our pleasure to see one of our co-agents take it away, should that be the case. The TEAM before the individual is our motto!”
Geoffrey Green, President of Green Team Realty, presents Vikki Garby with the 1st Quarter Sales Leader Award for 2019
Vikki Garby is Green Team New York Realty’s 1st Quarter Sales Leader for 2019
Green Team New York Realty is proud to announce that Vikki Garby is the 1st Quarter Sales Leader. According to Geoff Green, President of Green Team Realty, “Vikki Garby is a very smart and focused Real Estate professional. She is establishing herself as a true leader in the Orange County Real Estate marketplace. Vikki’s analytical abilities have served her well in both Residential and Commercial Real Estate. And both are contributors to her sales success. It’s going to be exciting to watch Vikki grow her Real Estate business. We are extremely blessed to have her as part of our Agency.”
Prior to entering the world of real estate, Vikki worked for a major bank in New York City as an investment banker. There she reviewed and negotiated complex contracts on a regular basis. During that time, she became a real estate investor, negotiating her own transactions as a buyer. And her love of real estate and skill at navigating its many transactional parts, lead her to obtain her license so that she could help others with their real estate needs. In addition, Vikki has received her Commercial Investment Real Estate Certification. And this further enhances her ability to assist real estate investors and commercial clients.
Vikki had the following to say: “I appreciate this recognition very much. Success in this business is achieved by chugging away every day to help our clients as best we can. Thank you to all my loyal clients for trusting in me and for referring me to your family and friends. You have helped me grow my business to what it is today and I am extremely grateful for that. The support, tools and resources I receive by being a part of Green Team New York Realty make my job that much easier and more rewarding!”