Selling a Home December 3, 2021

A Checklist for Selling Your House This Winter

A Checklist for Selling Your House This Winter [INFOGRAPHIC] | MyKCM

Some Highlights

  • If you’re planning to sell your house this winter, you’ll want it to look its best inside and out.
  • Take the time and focus on tasks that make it inviting, show it’s cared for, and boost your curb appeal.
  • Let’s connect so you have an expert opinion on what to focus on, so it shows well and catches a buyer’s eye.

Put an experts eye on your home search! You’ll receive personalized matches of results delivered directly to you. We’ll take into account your goals, criteria, and preferences to find properties that are exactly what you were always dreaming of.
Start Here!

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Buying a home December 2, 2021

Tips for Single Homebuyers: How To Make Your Dream a Reality

If you’re living on your own and looking to buy a home, know that you can make your dream a reality with thoughtful planning and the right team of experts. Research from Freddie Mac shows 28% of all households (36.1 million) are sole-person, and that number is growing. Over the past 40 years, the number of sole-person households has nearly doubled, and that’s a trend that’s expected to continue. According to Freddie Mac:

Our calculation suggests that there will be an additional 5 million sole-person households in the United States by the next decade. This means 42% of the household growth will be contributed by sole-person households, . . .”

If you fall into this category, here are three tips to help you achieve your homeownership goals.

1. Know Your Credit Score

When you buy a home on your own, you have to qualify for your loan based solely on your own finances and credit history. Investopedia says:

“. . . lenders will be looking at just one credit profile: yours. Needless to say, it has to be in great shape. It is always a good idea to review your credit report beforehand, and this is especially true of solo buyers.”

It’s important to find out your score so you know where it falls. If you’re not sure if it’s strong enough or where to focus your energy to improve it, meet with a professional for expert advice on your individual situation.

2. Explore Down Payment Options

Next, look into down payment programs so you can get a feel for what you’ll need to save to buy a home. Rob Chrane, CEO of Down Payment Resourceexplains:

“Buyers should discuss their program options with their loan officer and real estate agent to make sure they choose the program best suited to their personal needs.”

In this step, lean on the pros to determine what you’re eligible for and what’s right for you.

3. Think About Your Future Home and Your Needs

You should also spend time thinking about what you want. What type of home do you picture yourself in? To answer that question, Quicken Loans shares this advice:

Think about your lifestyle, what you want out of your home and your needs. Is being close to work important? Do you need a lot of yard space? Do you want an extra bedroom that you can transform into a home office? Condo or detached home? Lots of space for entertaining? It’s all up to you (and your budget).”

Again, a professional can help you balance what you want and how much you should spend on your monthly housing costs to determine what type of home is right for you.

While buying a home solo can feel like a big challenge, it doesn’t have to be. If you lean on the professionals, they can help you navigate these waters and make sure you’re able to take advantage of the great opportunities in today’s housing market (like low mortgage rates) to buy your dream home.

Bottom Line

The share of sole-person households is growing. If you’re looking to buy a home on your own, be confident that the dream is achievable. When you’re ready to begin your search, let’s connect so you have expert advice each step of the way.

Put an experts eye on your home search! You’ll receive personalized matches of results delivered directly to you. We’ll take into account your goals, criteria, and preferences to find properties that are exactly what you were always dreaming of.
Start Here!

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Buying a home December 1, 2021

How To Think Strategically as a Buyer in Today’s Market

The game of chess can provide incredible lessons to apply to all aspects of life, including the homebuying process. Chess requires you to plan and think about your strategy from the very beginning of the game.

The homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home search.

Pre-Approval: the Best Opening Play To Make as a Homebuyer

It’s important to have a great opening play when you’re buying a home. And the best move you can make when you begin your home search is getting pre-approved by a lender. You’ve probably already heard this is an important step, but what exactly is pre-approval and what benefits does it provide you?

As Freddie Mac puts it:

“The pre-approval letter from your lender tells you the maximum amount you are qualified to borrow. Getting a pre-approval letter is not a loan guarantee, it simply states how much your lender is willing to lend you. . . .”

And while determining how much you can afford at the start of your search is critical, the pre-approval letter also serves another important purpose. Freddie Mac also notes:

“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”

In the game of chess, a strong opening move signals to your opponent that you’re a serious competitor. As a homebuyer, your pre-approval letter signals to the seller that you’re a serious, interested buyer.

Homebuying: It’s a Team Game, Not a Single-Player Experience

Every step you take to create your strategy as a buyer is important in today’s market. Why? Mortgage rates are still low, but increasing. Prices are going up. There’s a limited supply of homes for sale. These are just a few key variables in today’s market you need to be prepared for.

That means leaning on expert guidance as you plan every move is more important than ever. Have a team of professionals – like your trusted real estate agent and a loan officer – every step of the way to make sure you make the right moves.

Bottom Line

Getting a pre-approval letter isn’t just good strategy, it can be game-changing. It allows you to get a full understanding of what you can afford, and it signals to sellers that you’re serious. Let’s connect today to ensure you’re playing chess and being strategic during the home buying process.

Put an experts eye on your home search! You’ll receive personalized matches of results delivered directly to you. We’ll take into account your goals, criteria, and preferences to find properties that are exactly what you were always dreaming of.
Start Here!

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Buying a home November 30, 2021

Home Is Where the Heart Is More than Ever This Year

There’s no denying the financial benefits of homeownership, but what’s often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us.

According to the 2021 State of the American Homeowner report by Unison:

“Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.”

As a nation, we continue to work through the challenges of a pandemic that’s pushed us all to new limits. Over the past year and a half, we’ve spent more time than ever at home: working, eating, schooling, exercising, and more. The world around us changed almost overnight, and our homes were redefined. Our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes:

  • 91% of homeowners say they feel secure, stable, or successful owning a home
  • 64% of American homeowners say living through a pandemic has made their home more important to them than ever
  • 83% of homeowners say their home has kept them safe during the COVID-19 pandemic

It’s no surprise this study also reveals that homeowners are now more emotionally attached to their homes as well:Home Is Where the Heart Is More than Ever This Year | MyKCMAs we’ve learned throughout this health crisis, homeownership can provide the safety and security we crave in a time of uncertainty. That sense of connection and emotional stability genuinely reaches beyond just the financial aspect of owning a home. As JD Esajian, President of CT Homes, LLCsays:

“Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.”

Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes:

“Buying a home is not just a financial decision. It’s also a lifestyle decision.”

Bottom Line

If you’re considering buying a home, it’s not entirely about the dollars and cents. Don’t forget to weigh the non-financial benefits that may truly change your life when you need them most.

Put an experts eye on your home search! You’ll receive personalized matches of results delivered directly to you. We’ll take into account your goals, criteria, and preferences to find properties that are exactly what you were always dreaming of.
Start Here!

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Housing Market News November 29, 2021

November 2021 Housing Market Update

The November 2021 Housing Market Update was held on November 16 at 12 p.m. Geoff Green, President of Green Team Realty and co-founder and CEO of NuOp, hosts the monthly market updates. If you missed the live Zoom and Facebook event or would like to watch it again, it’s available below.

It’s not depreciation. It’s deceleration

Housing market prices are not declining or depreciating, The rate at which they’re increasing is just slowing down.

Home Sales forecast 

Home Sales Forecast for 2021 and 2022

Rising Inflation

The impact on the housing market is very simple. According to Green, at the end of the day, it’s all about monthly cash flow.  People know how much they make each month and how much they can afford to pay for their mortgage. The more things cost, the less money is available for a mortgage payment.

November 2021 Housing Market Update on Rising Inflation

 

 

 

 

 

 

What are the national stats telling us?

Existing home sales have come down a little from last year. However, they are still very strong compared to the market pre-Pandemic. Average sales price is still up, above 2017 – 2020 prices. Furthermore, the months supply of inventory is starting to come up a little.

Meet the panel

Panelists for the November 2021 Housing Market Update are Keren Gonen, Green Team New Jersey Realty, Vikki Garby, Green Team New York Realty, and Gian Russo, Northpointe Bank Branch Manager.

The market is softening, according to Keren’s experience. Accordingly, buyers are having more options.  Furthermore, she is seeing overpriced homes no longer selling as they did 6-months ago. Keren’s advice to those thinking about selling? Do it now!

Vikki agrees that we have reached a point where sellers can no longer just slap on a high price and have buyers in a bidding war. Buyers are not throwing crazy offers in desperation to buy a home  Furthermore, some appraisals seem to be pushing back against the pricing.

Rental prices have shot up even more than sales prices. Geoff talked about the importance of owning real estate as a hedge against inflation. Real estate increases in value. Gian explained the process of mortgage origination and how an increase in rates impacts monthly payments. Gian’s advice to buyers is to make sure you stay with a one-on-one lender as well as a one-on-one real estate agent. The market and its changes are complex and buyers will benefit from working with local real estate and mortgage professionals.

For the complete webinar, including the panel discussion, click here:

Housing Market Update November 2021 Panelists

 

 

 

 

 

 

“Housekeeping” Details

November 2021 Housing Market Update "Housekeeping"

 

 

 

 

 

 

 

 

Selling a Home November 29, 2021

Why Now Is a Great Time To Sell Your House

As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles.

In fact, recent data from realtor.com shows a larger share of homeowners are planning to list their houses this winter. So, that means more homes are about to hit the market, which will lead to more choices for buyers too.

According to George Ratiu, Manager of Economic Research at realtor.com:

“The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter.

If you’re thinking of waiting until the spring to sell your house, know that your neighbors may be one step ahead of you by selling this winter. If you want to stand out from the crowd, this holiday season is the best time to make sure your house is available for buyers. Here’s why.

Sellers Are Still Firmly in the Driver’s Seat

Historically, a 6-month supply of homes for sale is needed for a normal or neutral market. That level ensures there are enough homes available for active buyers (see graph below):Why Now Is a Great Time To Sell Your House | MyKCMThe latest Existing Home Sales Report from the National Association of Realtors (NAR) shows the inventory of houses for sale sits at a 2.4-month supply. This is well below a neutral market.

What Does That Mean for You?

When the supply of homes for sale is as low as it is today, it’s much harder for buyers to find homes to purchase. This drives up competition among buyers, who then submit increasingly competitive offers to win out against others in the home search process. As this happens, prices rise and your leverage as a seller rises too, putting you in the best position to negotiate a contract that meets your ideal terms.

And while the low housing supply we’re facing won’t be solved overnight, sellers this season should move quickly to maximize their potential. As the data shows, with more prospective sellers planning to list their homes this winter, selling sooner rather than later helps your house rise to the top of a holiday buyer’s wish list so you can close the best possible deal.

Bottom Line

Listing your home over the next few weeks gives you the best chance to be in front of buyers competing for homes this holiday season. Let’s connect today to discuss how you can benefit from today’s sellers’ market.

Put an experts eye on your home search! You’ll receive personalized matches of results delivered directly to you. We’ll take into account your goals, criteria, and preferences to find properties that are exactly what you were always dreaming of.
Start Here!

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Buying a homeSelling a Home November 28, 2021

Reasons To Hire a Real Estate Professional

Reasons To Hire a Real Estate Professional [INFOGRAPHIC] | MyKCM

Some Highlights

  • Whether you’re buying or selling, there are many perks that come from working with a real estate advisor.
  • Real estate professionals are experts at navigating all aspects of the buying and selling process, including negotiating on your behalf. We can also explain today’s market and break down what it means for you.
  • Don’t go at it alone. Let’s connect today so you have advice and an expert to count on each step of the way.

Put an experts eye on your home search! You’ll receive personalized matches of results delivered directly to you. We’ll take into account your goals, criteria, and preferences to find properties that are exactly what you were always dreaming of.
Start Here!

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Buying a home November 24, 2021

How Smart Buyers Are Approaching Rising Mortgage Rates

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022:

“The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.”

If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise.

Taking Time Off Can Be Costly

Mortgage rates play a significant role in your home search. As rates go up, your monthly mortgage payment increases if you’re buying a home, directly affecting how much you can afford. And even the smallest increase can have a large impact on your monthly payment (see chart below):How Smart Buyers Are Approaching Rising Mortgage Rates | MyKCMWith mortgage rates on the rise, you’ve likely seen your purchasing power impacted already. Instead of waiting and hoping rates will fall, today’s rates should motivate you to purchase now before rates increase more.

Smart Buyers Can Succeed by Planning Ahead

You can use your newfound motivation to energize your search and plan your next steps accordingly so you’re prepared to act no matter what happens with mortgage rates. One way to do that: take rising rates into consideration as part of your budget.

Danielle Hale, Chief Economist at realtor.com, puts it best, saying:

“Smart buyers should consider calculating a monthly payment not only at today’s rates, but also at rates that are a bit higher so that they won’t be derailed by a sudden upward move. . . .”

You should also be ready to act when you find the home that meets your needs. That means getting pre-approved with a lender so there won’t be any delays when the time arrives.

The best way to prepare is to work with a trusted real estate advisor now. An agent can connect you with a lender, help you adjust your search based on your budget, and be ready to act quickly when it’s time to make an offer.

Bottom Line

Serious buyers should approach rising rates as a motivating factor to buy sooner, not a reason to wait. Waiting will cost you more in the long run. Let’s connect today so you can better understand your budget and be prepared to buy your home even before rates climb higher.

Put an experts eye on your home search! You’ll receive personalized matches of results delivered directly to you. We’ll take into account your goals, criteria, and preferences to find properties that are exactly what you were always dreaming of.
Start Here!

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Agency News and Awards November 24, 2021

Agent Spotlight Thomas Folino

A little about Tom…

From a young age, Tom combined his love for community and sports by coaching teams in Little League Baseball, the Youth Recreation Soccer program, and the Youth Basketball League. For the past 14 years, Tom has run a summer basketball camp. In addition, he was the founder and director of the Warwick AAU Basketball program. It is also no surprise that Tom chose to teach in the Warwick Valley Central School District, where he was highly respected as both a teacher and coach. He was the Boys Varsity Basketball Head Coach for 20 years, and the Boys Varsity Golf Head Coach.

Tom’s interest in real estate came from his own personal experiences. When buying and selling his own homes throughout the years, Tom found that he actually enjoyed the process – from obtaining financing to negotiating the best deals, and everything else involved! After retiring from teaching, Tom decided to pursue real estate full time, motivated by a desire to help people sell their houses and find homes they’d love within this community he knows so well. From his long and distinguished career in Education, he brings the same enthusiasm, dedication, and professionalism to his real estate career. His main goal is to place his clients’ needs and desires first. And his first-hand knowledge of the importance of a quality school system to a community, as well as his knowledge of Warwick and its many neighborhoods and villages, are definite assets.

Green Team Agent Spotlight on Tom Folino

Before entering the real estate profession, what did you do?

Taught Physical Education and was the Varsity Basketball and Golf Head Coach in the Warwick Valley School District where I taught and coached for 34 years. Taught at the Elementary and High School level. Retired from teaching in 2014 and coaching in 2017

How and why did you become a real estate agent?

After retiring from coaching basketball at Warwick High School in 2017 I was looking for something else to do to keep me busy and on the move. Geoff Green the owner of Green Team NY Realty approached me about becoming involved in real estate. I was Geoff’s high school football coach at Warwick High School as well. I had bought and sold many properties before on my own and I loved helping and working with people. It seemed like a great fit for me!

What do you like best about being a real estate agent?

The most satisfying part of real estate is seeing a satisfied and happy client. I love the entire process of working with a client from its beginning until closing and then being there for them in any way to help them after the process.

What do you like least about being a real estate agent?

The disappointment when a client makes an offer and doesn’t get the deal. The market with its lack of inventory and high buyer demand has made this a very tough market for buyers.

What was your most memorable/unusual real estate transaction?

Selling the home of two of my high school teachers, Tom and Tricia Lorgan. Working with them throughout the process and helping them was very satisfying and rewarding. But every transaction that I have been involved with has been special for me.

What is it like being part of the Green Team?

One of the best decisions I have made in my life was working for the Green Team. We have an outstanding leader and teacher in Geoff Green. The entire team of real estate agents and support staff is second to none. We truly are a team where everybody looks out for each other and always is there to help a colleague in any way needed.

How would family and friends describe you?

Caring, will always go above and beyond to help somebody, organized and detail-oriented and somebody who puts others needs ahead of his own. Also a great sense of humor and somebody who loves to have fun.

What is your proudest accomplishment?

My Family. I have a beautiful, intelligent, caring, and hardworking wife along with my two sons who I’m extremely proud of the men they have become.
Green Team Agent Spotlight on tom Folino

What does “home” mean to you?

Warwick, NY, and being with family.

What advice would you give to someone thinking about selling their home?

Selling your home is a very emotional process. Make sure you have clear goals on what you expect and most importantly choose a qualified real estate agent that can navigate you through the process so that its enjoyable and rewarding for everybody involved.

What advice would you give to someone thinking about buying a home?

Do your homework on exactly what you are looking for in a home. That would include location, style, and what you can afford, to name a few. Have all your ducks in order before starting the process. But always remember that though we want to find the perfect home there will always be something that you don’t particularly like about a property. Have a checklist on what is important in a home and hopefully you can check off most of the boxes when you do find that home.

What advice would you give to your younger self?

Don’t always be so hard on yourself. Strive for perfection but make sure you enjoy the process as you go through it!
Agency News and Awards November 23, 2021

Welcome Jeffrey Parmigiani to Green Team New York

The Green Team is proud to announce that Jeffrey Parmigiani has decided to join our Warwick, NY office. We’re excited to have him on our team and look forward to helping him grow! 

Please join us in Welcoming Jeffrey Parmigiani to The Green Team New York!