Agency News and Awards January 30, 2019

Green Team 2018 Awards Ceremony celebrates another year of growth and success

Agents and staff of Green Team Realty gathered together on January 18 at the Warwick Country Club to celebrate a year that was momentous in many ways. Geoff Green welcomed everyone and outlined some of the year’s milestones.

Among them, a new home for Green Team New Jersey Realty and a beautiful renovation of the Warwick Office.  Add to that the many new sales associates that have joined Green Team New York Realty and Green Team New Jersey Realty.  

Growth was an important topic. Through dedication, hard work, support, creative marketing and consistent training programs,  many Green Team sales associates saw their businesses grow. And both offices saw sales volume increase. In fact, Green Team New Jersey Realty became #1 in Vernon (based on a comparison to all GSMLS offices in the township by closed sales volume for the period of 1/1/18-12/31/18). This achievement is made even more impressive considering GTNJR first opened its doors in 2016.

Award Presentations

Geoff Green believes in acknowledging and rewarding both growth and achievement.  And what makes the award presentations so special is the support and pride that the whole Green Team family shows to the recipients.

Yearly Sales Leaders & 4th Quarter Sales Leaders

For the third year in a row, Jennifer DiCostanzo has earned the Yearly Sales Leader Award.  And she also received the 4th Quarter Sales Leader Award for 2018. (photo left)
In the New Jersey office, the team of Charles Nagy and Ted VanLaar also received both the Yearly Sales Leader and 4th Quarter Sales Leaders awards. Charles ad Ted were also the 2nd Quarter Sales Leaders in 2018. (photo right)

President’s Club

As several sales associates achieved between $5 and $10 Million in Sales Volume, a new award category became necessary.  Meet the charter members of the President’s Club.

From Left to Right:  Jennifer DiCostanzo, Ted VanLaar, Joyce Rogers, Charles Nagy, Pip Klein, Tammy Scotto, Nancy Sardo and Dean Diltz.


Captain’s Club

This established award is given to those who do $3 to $5 Million in Sales Volume.

From Left to Right:  Keren Gonen, Barbara Tesa, Vikki Garby, Lucyann Tinnirello, Linda VanDeWeert, Chris Kimiecik and Kim Lesley.


Honorable Mention

This new category was created to acknowledge those Sales Associates who had $1.5 to $3 Million in Sales Volume.  

From Left to Right:  Kimberly Lasalandra, Janine Blandino, Angela Murphy, Jacque Kraszewski, Mary Lynch, Terry Gavan, Toni Vogel, Tom Folino, Alison Miller, Ann Nussberger.

Not shown:  Julianna Green, Toni Kreusch, Connie Marines, Denise Schmidt.


The Momentum Builder Award

Each year Geoff selects a sales associate who has demonstrated hard work and determination while overcoming obstacles.  Someone who has come through a tough spot in life and turned challenges into great success; not just in real estate but in life.  A person who shows no signs of going backward. Because it’s all about building momentum towards a brighter future. This year’s Momentum Builder is Joyce Rogers of Green Team New Jersey Realty.  She is a single mom with an amazing work ethic.  Her hard work earned her a place in the President’s Club.  It also enabled her to achieve her goal of buying a house, exactly where she wanted to. She’s no longer in commuting distance from the office.  However, that isn’t stopping Joyce from being part of the Green Team family. She’s now in a long distance “relationship” with the office.  Something made possible by Geoff’s advancement of a tech-based office that allows people the freedom to work from wherever they choose.

 

 


The People’s Choice Awards

The winners of these awards are selected by their peers.

Citizen of the Year

Recipients of this award are nominated by their co-workers.  Both have made outstanding contributions to our local communities.  This is the third year in a row that Jen DiCostanzo has been named Citizen of the year by the Warwick Office. Jen originated Light up the Holidays for the Green Team, to raise funds for local charities.  The program has evolved into Team Up for Hope.  This is an initiative to raise funds and awareness of the local affiliates of NAMI (National Alliance on Mental Illness) and bring attention to mental illness in our communities.  She is also the organizer of the holiday gift baskets for a family sponsored by the Green Team through the local food bank. And Keren Gonen has been named Citizen of the Year by her peers in Vernon for the second year.  Keren has been instrumental in raising funds for the local charities.  She is also extremely active in the Team up for Hope program.  These women truly believe in giving back to the community and put in the time, effort and commitment to make things happen

Team Player Award

Recipients of this award were deemed the most reliable, positive and dependable.  Furthermore, they work well with others and have great problem solving skills.  It’s no coincidence that the award went to the Agent Service Managers of each office.  Donna Roberts was voted Team Player by her peers in Warwick.  And Lora Chandra received this recognition from her co-workers in Vernon.

 


And a special thank you goes to…

The 2018 Awards Ceremony was sponsored by Amy Green, Vice President of Mortgage Lending, Joe Moschella, Regional Manager, and Mark Slepian, Home Renovation specialist, all from Guaranteed Rate.
In addition, we had another special treat…  The Kim Lesley Band had us dancing the night away.  The genuine affection that members of the Green Team share is part of what makes Green Team Realty so special.  Most importantly, people support and help each other and celebrate each other’s successes.  And this wonderful event was the perfect way to launch into 2019!

 

 

Housing Market News January 30, 2019

Why It Makes No Sense to Wait for Spring to Sell

The price of any item (including residential real estate) is determined by the theory of ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory at the beginning of 2018:

Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense.

Bottom Line

Buyers in the market during the winter are truly motivated purchasers and they want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

Thinking about selling your home?

Find out what your home is worth, use our free and easy Home Value Estimator.

Housing Market News January 30, 2019

How Does the Supply of Homes for Sale Impact Buyer Demand?

How Does the Supply of Homes for Sale Impact Buyer Demand?

The price of any item is determined by the supply of that item, as well as the market’s demand for it. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes is in that area. The survey showed that in 38 out of 50 states buyer demand was slightly lower than this time last year but remains strong. Only six states had a ‘stable’ demand level.

Seller Supply 

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 23 states reported ‘weak’ seller traffic, 22 states and Washington D.C. reported ‘stable’ seller traffic, and 5 states reported ‘strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for homes.

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together so I can help you capitalize on the demand in the market now!

Stay current with your local Housing Market New by signing up for our Housing Market Update Monthly Report.

 

Housing Market News January 14, 2019

The Best Time to List Your House? TODAY!

You may have heard that the housing market is softening. There is no doubt that buyer traffic has decreased. There are fewer purchasers in the market than there were last month and at this time last year. What you may not have heard, however, is that there is still a severe shortage of listing inventory in many regions of the country.

In a recent interview discussing the housing market, First American’s Chief Economist Mark Fleming put it simply:

“The biggest challenge is really the availability of supply.”
When we look at available inventory numbers released by the National Association of Realtors (NAR), we see that the actual number of homes for sale has decreased in each of the last five months.

What does this mean to you as a seller?

The best time to sell is when there is less competition. That guarantees you a better price and fewer hassles in the transaction.

Bottom Line

If you are thinking of selling your house this year, the best time to put it on the market might be right now. Let’s get together to evaluate the demand for your house in our market!

Start by finding out what your home is worth, use our quick and free Home Evaluation tool.

Housing Market News December 25, 2018

December 2018 Housing Market Update

The Green Team’s December 2018 Housing Market Update was held on Facebook  Live Tuesday, December 11 at 2 p.m.  If you were unable to view the webinar live, you can watch it at your convenience here.  You can also sign up for future updates at GreenTeamHQ.com/hmu.

This month’s panelists…

  

 

Geoffrey Green is the President/Broker of Green Team Home Selling System.  In addition to moderating the monthly webinars, Geoff also presents national statistics as well as local updates for Orange County, NY and Sussex County, NJ.   This month he is joined by regular panelist Keren Goren, and by Joyce Rogers, both from Green Team New Jersey Realty.

The National Outlook

Will home prices continue to appreciate through 2019?

Overall sentiment is that the housing market seems to be cooling off, so now  we’re at the prediction stage, trying to foresee what will happen next.  Per the graphic, 99% of the 105 economists, market analysts and real estate experts consulted felt that home prices will continue to appreciate through 2019.  However, that does not mean that the market won’t continue to slow; it means that the rate of appreciation will continue on a positive note. Most agree that it will continue to appreciate at a lesser value in the coming year.

 

Will there be a sharp turn in the housing market?

Geoff Green finds this quote to be of great importance. Nobel Price Winner Robert Shiller is one of the thought leaders of real estate analytics. Compared to where we were in 2008, where almost 50% of transactions just went away within a two year period of time,  and where we are now, Shiller doesn’t expect a sharp turn.  This point of view coincides with Geoff’s observation’s over the last several months.

Looking forward – Predictions of the experts on home appreciation growth over the next 3-5 years

This chart has been updated from November to include predictions of where things are headed in the future.  Some of the larger organizations that provide information to the industry are showing a slow turn to the downside.  And, important to note, there are no numbers indicating a reduction in price.

Corelogic’s State by State forecasted changes in price

Price appreciation most often happens in the south and on the coast, where many people tend to move as they get older.  No projections are in the red for any state.   Historically speaking, most of the country is looking at a very substantial increase in terms of price.  The numbers are solid, and if this trend continues through 2019, it will be a very good year.

December 2018 Housing Market Update – Orange County

Units Sold

The red line representing 2018 shows there is not too much of a variance between this year and last year.

 

 

Average Price

Prices spiked during the summer and have been simmering down, coming a little closer to 2017’s numbers.

 

Average Sold to Asked Ratio

This number shows the price the home sold for versus the last asking price.   The higher the number, the hotter the market.  This is a mixed bag result from 2018 over 2017.

Continue reading

Housing Market News December 10, 2018

November 2018 HOUSING MARKET UPDATE

The Green Team’s November 2018 Housing Market Update was held live on Facebook Tuesday, November 13 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 future updates at GreenTeamHQ.com/hmu.

 

Meet this month’s Panelists…

Geoffrey Green , President/Broker of Green Team Home Selling System, moderates the monthly webinar and presents the national stats, as well as the market updates for Orange and Sussex Counties.  This month he is joined by Pam Zachowski and Keren Goren of Green Team New Jersey Realty and Vikki Garby, Green Team Home Selling System, Warwick.

 

 

 

 

 

 

 

 

 

 

 

Joe Moschella, Branch Manager and Vice President of Lending, and Amy Green, Vice President of Lending, of Guaranteed Rate discuss market updates from a mortgage industry perspective.

 

 

 

 

 

 

 

 

 

The National Outlook

According to Geoff Green, it’s a very exciting time in the housing market right now as we’re starting to see some shifts. We’re experiencing all-time highs reminiscent of 2008 over the last 18 months.  It does seem like things are cooling off.  According to Michael Fratantoni, Chief Economist of the Mortgage Bankers Association, he expects that home sales growth will pick up again over the next year, even with somewhat higher mortgage rates, though the pace of price growth will likely slow.

Despite the fact that national and local numbers indicate that the velocity of homes selling is actually slowing, Fratantoni and some others are predicting that it is going to increase in 2018.  So, it’s not that appreciation is going down, it’s just slowing down.

The Mortgage Bankers Association, National Association of Realtors, and Freddie Mac, with the exception of Fannie Mae, all are predicting increases over the past two years.  All are predicting increases over the past year.  For the most part each of these organizations wants the housing market to continue to grow.  Geoff reminds us that it’s in their best interest.  It’s important to be aware of the source of information.  During the downturn In 2006, 2007 and 2008, during the downturn, some organizations were  putting out information that did not accurately portray what was happening. However, you can rely on the Green Team to put out information that is accurate and honest.

 

In projections for 2018 through 2022, everyone seems to have a positive outlook that the market will continue to appreciate.  Just at a slower pace.

 

November 2018 Housing Market Update – Orange County

Units Sold

While this is hyper local, it is reflective of the 2018 national numbers.  While prices may increase and decrease, depending on inventory, units sold have been a mixed bag this year versus last year.  It’s been up, it’s been down.

Average Price

Geoff has found that price always lags activity, according to his observations over the past 14 years.    If you start to see a slowdown in activity, 6 to 8 months later you’ll start to see a slowdown in the rate of price increases.

Sold to Asked Ratio

This is telling you at what percent of the asking price your home is selling for.  The closer you are to 100%, the hotter the market.  While this took a little dip recently, it is still at very high levels.

 

November 2018 Housing Market Update – Sussex County

Units Sold

This is a small data sample that is still reflective of what is happening nationally.  Again, it’s a mixed bag, up, down, then often flat.

Average Price

Average price never really gained a tremendous amount of traction, as compared to Orange County, where there had been increases in price.

Sold to Asked Ratio

This looks similar to what is happening in Orange County.

 

Panel Discussion

The Sales Associates Points of View

Geoff asked Vikki what changes she’s seen since she was last on the panel about 4 months ago…  Vikki agreed that she has been seeing a little bit of a slowdown, part of which she believes is due to timing.  Many families time their house hunting to coincide with the start of school.  However, what she’s finding is a lot of people are looking for land.  Historically, we’ve had low inventory compared to the number of buyers, And, as existing house prices go up, more people are starting to consider new construction.   Housing starts will be up 9% beginning of the coming year.   So there is still a lack of inventory.

Pam also sees a slowdown.   More people are looking for homes, but between the low inventory, the start of the school year, people are taking their time.  She still sees investors trying to buy and flip homes but finding it harder and harder to find that good deal that makes it worthwhile.

Geoff then asked about appraisals. Are there issues with properties appraising, or are there now enough comps in the marketplace?  Keren has not seen any problems recently.  They’re all coming in at asking and a little bit above.  One thing she has noticed is Sellers asking for CMA’s or listing presentations, more than she had over the summer.  Keren always advises clients that we only know what the market is right now and can’t tell where it’s going.  She lets them know that low inventory makes it a good time to put their home on the market, as opposed to waiting for Spring, Geoff replied that sellers that were holding off putting their home on the market may now decide to take a chance, seeing that the market is cooling off a little. This may ultimately bring more inventory and more transactions to the marketplace as a whole.  There are still many buyers out there, anxious to find a home.

A Mortgage Industry Point of View

According to Joe Moschella, over the last 5 months they’ve seen a steady rise in interest rates.  The year started with a 10-year treasury note at 2.21% and this week it was 3.21%, one full percent.  That, along with the Fed stopping its purchasing of mortgage-backed securities, caused a liquidity crunch in the market.  This contributed to pushing rates up.  They started the year with 4% on a 30-year fixed rate and are now closing in on 5%.

Geoff asked Joe what the bond market was like 4 years ago on a percentage basis,  just to give some perspective. Joe brings it back to 9/11, when the Fed didn’t want to see the economy spiral down. They jumped in and started dramatically dropping rates, bringing them down to almost zero.  Now we’re seeing the unwinding of these artificially low rates.  Thankfully the Fed eased into this, providing a “soft landing.”  2.21 to 3.2% represented about ¾ of a percent, interest rate wise.  About 2, 2-1/2 years ago we were at 1.2% on the US Treasury.  Before that, we were at the 0.7, 0.8% range. We’ve seen a steady rise, which hopefully the economy is strong enough to handle.

Some of the other changes in the market on the mortgage front are in the role technology is playing. Lenders are able to verify client’s income and assets automatically, do the application online and do the process without sending any paperwork back and forth. The whole process is done digitally.This is revolutionizing the industry and leading to higher consumer satisfaction.  The industry is also easing credit standards.  Geoff asked if easing credit standards was necessarily a good thing.  Joe responded that rising rates have opened the door for new loan products to come out. Those new products are not coming from the banks, but rather from private equity firms flowing back into the market.  No verification loans do not exist, but they have a bank statement loan that has come back into play.  No seasoning waiting period for someone who had a foreclosure or bankruptcy or short sale, whereas before you had to wait three, four or seven years. Geoff stated that if you’re talking about private equity, they basically can do whatever they want with their money, as long as those products don’t make it into mortgage-backed securities. He asked if there were any controls in place to make sure that didn’t happen again. The trade-off with non-conforming products is that the buyer has to have some “skin in the game.”  They need a sizeable down payment, and investors want higher return for higher risk, so rates may be at the 6-1/2% range.

Geoff said it’s important to keep things  in perspective.  The sky won’t be falling if rates hit 6-1/2%! Historically, it’s a pretty average rate.

Joe and Amy had a graph showing 10-year treasury yield minus 2-year treasury yield.  Historically when those yields come together, it signals a slowdown in the market or a recession.  From Joe’s perspective, we might have a slow down in the stock market and see a pull back, but he’d rather see a market that goes up and goes down.  In a stale market buyers and sellers are sitting on the fence; there is no call to action.  As far as housing goes, everyone can do well and make some money.

Geoff thinks there is enough pent up demand from 2008 to 2016; there are a lot of people who need to buy a home and rates are still low enough.  The American housing market is the place to be in the Global real estate market.   There may be a continued cooling off and slow down a little.  We’ve been at such high levels right now, it had to.  Like the stock market, it can’t keep going up indefinitely; at some point it has to come down.

Thank you to our Sponsor,

REALLY – Agent to Agent Referrals

https://ReallyHQ.com

 

Please join us for the next Housing Market Update

December 11, 2018 at 2 p.m.

Stay informed.  Sign up for our Housing Market Update at

GreenTeamHQ.com/HMU

 

 

 

Community SupportEvents December 10, 2018

Thanksgiving Pie – A Green Team Tradition

Thanksgiving Pie – A Green Team Tradition

Thanksgiving.  It’s a time of gratitude, friends and family; of turkey and all the trimmings.  And at the Green Team, it’s a time to let clients know how much they are valued.  The Client Appreciation Program, or CAP, is the cornerstone of the Green Team’s foundation.  The Green Team doesn’t take its clients for granted.  Through the CAP program sales associates find ways to say “I appreciate you” throughout the year.  However, one of the highlights of the program is Thanksgiving Pie.  A Green Team CAP tradition,  clients are invited to come to the office for a casual party. And to pick up their Thanksgiving pie. Because this gift from their sales associate is a way of saying “Thank You.”  Thank you for your business, your referrals, and your friendship.

 


Thanksgiving Pie… A “family” event for both the Warwick and Vernon Offices

Walking into either office you can feel the warmth and joy and know that you are welcome.  Pies are stacked high, waiting to be distributed.  Being a local brokerage, it’s important to the Green Team to support other local businesses.  Thus Noble Pies has become part of the tradition. Their pies are baked from locally sourced ingredients when available. Cider, wine, donuts and more await the clients as they drop in to pick up their pies.   And, of course, there is laughter; lots of laughter!

Green Team Sales Associates agree that the Client Appreciation Program is something they themselves appreciate.  It keeps the focus on the people who are most important to their businesses:  their clients.  And events like this one bring everyone together, strengthening bonds between associates and between clients and associates.  Probably one of the best things is that two days later pies from the Green Team’s sales associates will be sweetening Thanksgiving Dinners at many homes.  Again letting clients know how much they are appreciated.

 

 

Housing Market News November 9, 2018

October 2018 Housing Market Update

The Green Team’s October 2018 Housing Market Update was held live on Facebook Tuesday, October 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 future updates at GreenTeamHQ.com/hmu

Meet this month’s Panelists from Green Team New Jersey Realty and Green Team Home Selling System

Geoffrey Green, President/Broker of Green Team Home Selling System, is the moderator of the monthly webinar and presents stats and market updates for Orange and Sussex County. He is joined this month by Keren Gonen,  Pamela Zachowski and Alison Miller of Green Team New Jersey Realty in Vernon and Jacqueline Kraszewski of Green Team Home Selling System in Warwick.

  Keren Gonen         

Market Update – The National Perspective

A look at Total Home Sales Nationally

Things seem to be shifting in the housing market.  For Geoff, the stats of homes sold are the “mother’s milk” of the industry.  Nationally it’s been a mixed bag through 2018. September’s numbers are not yet in, but August numbers for total home sales were just about even for 2017 and 2018.  It appears that things are shifting in the market, with the number of sales not increasing like last year, year over year.  However, foot traffic in August was much higher in 2018 than in the same period in 2017.

Buying versus Renting…Which is the best way to go?

Lawrence Yun, the economist of NAR, has said that we’ll probably see growth in terms of the housing market on the lower end because the job market is strong.  People are working, making money and want to invest their money in real estate.  However, there may be a slowdown in the higher end because interest rates are rising.  How does affordability of renting compare with buying?  There is a steep curve, not a good outlook for renters. Since 2013 it has been cheaper to buy instead of rent on an overall national basis.  If you have the ability, it costs less to buy than to rent on an overall monthly basis.

October 2018 Housing Market Update – Orange County

Units Sold

As stated before, Geoff sees this number as the mother’s milk of the housing market. This all-important number gives us a snapshot of how many homes are selling.  The number of units sold in Orange County appears to be cooling off. He believes we’ve seen the peak of the last runoff and that it’s behind us. Geoff’s view seems to be backed up by an article that appeared last week in the Wall Street Journal, which referred to a soft downturn in the market.

Average Price

There is a big variance in price from where we were last year.  The downward trend is a seasonal fluctuation and not a cause for concern.  Price always lags units sold at least 6 months or more.  Price increases may occur over the next 6 to 12 months, even though the number of units sold is dropping.

Average Sold to Asked Ratio

We are still pretty high, still over 98%, which means sellers are only having to negotiate 2% from their asking price.

October 2018 Housing Market Update – Sussex County

Units Sold

A similar trend to Orange County, where some months are up, some down, on a year over year basis. It’s a mixed bag, and the numbers seem to indicate a cooling off.

Average Price

Average prices never rocketed in Sussex as they did in Orange County.  In previous updates, we’ve spoken about how there is simply more foreclosure inventory and activity which has dragged down the average.  However, that doesn’t mean that homes that are well maintained and well located haven’t done well.

Average Sold to Asked Ratio

Average price never rocketed here like it did in Orange County.  There has been much more foreclosure inventory and activity in Sussex and that has dragged down the average home price. However, that doesn’t mean that well-located, well-maintained homes haven’t done well.

Slightly below Orange County, the numbers are still hovering around 98%.

Panel Discussion

The Sales Associates Point of View

Geoff believes the market is cooling.  He asked the panelists what they were sensing in the field. Keren replied that there are fewer houses that are updated and nicely done, and buyers have higher expectations.  During the summer, people were rushing to find homes in order to get situated before the start of the school year.  Without that added stress, many buyers are being pickier.  Alison finds that people are looking for something that is just not there.  Inventory is not meeting the demand.  In addition, many of her closings were delayed, affecting numbers for September.

Jacque is finding that there is a lack of finished, move-in-ready homes under the $400,000 price point in Warwick.  In addition, many families with school-aged children are waiting for the spring to resume their search.  Also, the seasonal fluctuation impacts the market as people are beginning their holiday preparations.  Pam is also seeing the issues mentioned by the other sales associates.  The inventory shortage, buyers being very picky, even homes that have been flipped that aren’t good enough.  It’s difficult for people to find what they’re looking for in their dollar amount.

Geoff summed up these comments by stating it is still a very good time to sell a house.  However, there is nothing to stop the housing market from slowing down.  Thus he advises sellers not to put off listing their home if they are planning on selling.

Guest Panelist, Matt Zagroda, discusses the bond market…

Matt Zagroda is a Sales Manager at MBS Highway, the leading provider of real-time market data for mortgage professionals.  As such, Geoff welcomed his input on the bond market. Geoff asked Matt what is happening with the bond market, as rates seem to be increasing by the minute.  Matt explained that at the end of last year the Fed wanted to do quantitative tightening.  Previously they had been reinvesting gains from the bond market back into the bond market, which brought their balance sheet up greatly.

They wanted to wind that balance sheet down and made a plan just before Janet Yellen stepped down as Fed Chair.  So, October of last year they wanted to reduce it by $10 billion. January of this year, $20 billion, April $30 billion, July $40 billion and October, $50 billion. That was the last tightening session.  They weren’t going to continue to reinvest it.  There is no Fed buying into the bond market, which is why we’re seeing changes in interest rates.  There was a drop in the bond market and a rise in rates.

Matt expects that in the upcoming months we’ll be experiencing volatility.  However, this is actually a more normal bond market.  If there is any economic news that would potentially hurt bonds, we’ll notice it more.  Previously the Fed was buying back into it, softening the blow, creating almost a safety net.  Now there is no safety net, so if it’s going to hurt – it’s going to hurt.  That doesn’t mean that if there’s good news that it will be the opposite and that it will help the bond market…  Again,  the Fed is not juicing the good news to buy and make that increase even more so.

More volatility is expected into the future, potentially more to the downside, but it’s not expected to be a straight downward line.   Rates may continue to get worse, though the hope is that they’ll remain steady.  Much depends on what happens with the Fed and their plans for rate hikes.

Geoff recalled buying his first home around 2003.  His 30 year fixed rate was at 6.5%.  We’re hovering now at about 5% now.  Matt agreed that was about right.

Looking back, it hasn’t been higher than this since 2009.  Previously, it was much higher.  Rates have been pretty much below 5% since then.  The largest run on the housing market was 2005, 06, 07 and rates were pretty high back then.  The rates may impact the mortgage industry insofar as refinancing.  However, when rates eventually come down, the refinancing market should open up again.

… the stock market, and global contagion

Geoff asked Matt his thoughts on the stock market and its unbelievable run.  Matt expects that eventually we can’t go much higher and things will come back to a more normal range.  Not a crash, but just a more normal range that will help bonds and interest rates even a little bit. When money comes out of stocks it is generally invested in bonds, especially when there’s talk of trade wars, etc.  When there is uncertainty in the market, many people invest in safer, long-term investments like bonds.

Geoff had a final question…  The idea that there could be a global contagion. By and large, there is a lot of risk around the globe. Many governments are not in a good fiscal situation. Currencies are all over the place. There’s a lot of risk around the globe.  The US seems like the shining city on the hill, on our own pedestal for some time.   He asked Matt his thoughts on the global market. Matt replied that there is turmoil in Europe, and especially Italy right now.  The world is interconnected. However, we’re not expecting great leaps and bounds right now because of that turmoil.  However, it does affect us.

In closing, Geoff recommends the article he mentioned at the beginning of the update.  Written by Laura Kusisto, it was published in the Wall Street Journal on October 13.  “Housing Market Positioned for a Gentler Slowdown Than in 2007″  provides a good, historical outlook on the market and its future.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agency News and Awards November 2, 2018

Pip Klein 3rd Quarter Sales Leader

The Green Team Home Selling System is pleased to announce Pip Klein as 3rd Quarter Sales Leader.

“Ever since I got my license in 2011, it was always a personal goal to win a quarterly award. In the beginning it felt unattainable.  But with every transaction, every year that passed, I knew I was learning and growing as an agent.”

A Natural People Person…

Pip feels fortunate to be part of the Green Team and to have found a new career at this point in her life.  “I was at a turning point,” adds Klein. “Many of my peers were starting to slow down or retire, when Geoff Green encouraged me to dive head first into this fascinating business.”  At the time, Pip had her late parents’ home to sell and as a natural “people person,” she was an ideal candidate to become an agent.  “I am so grateful that Geoff gave me that push and this opportunity to put my skills to work in this industry. It’s been a great journey and I love working in my hometown!”

According to Geoff Green, “It’s hard to believe, because she is such a great producer, that this is Pip’s first quarterly Sales Leader Award. That said, it has come at the busiest time of the year in the fastest moving market that Pip has experienced in her career as a Realtor. So this is a truly awesome accomplishment. And probably the first of many such awards for Pip.”

 

Community Support October 22, 2018

Team Up for Hope: The Green Team Went Live with NAMI Orange County, NY

Team Up for Hope

As a copywriter for the Green Team, one of my jobs is to do write-ups of the various webinars held by the company.  On October  10, 2018 a special webinar was held on Facebook.  Team Up for Hope: The Green Team Live with NAMI Orange County, NY.   For those unfamiliar with the organization, NAMI stands for the National Alliance on Mental Illness.   It is the largest grassroots organization in the nation dedicated to building better lives for the millions of Americans affected by mental illness.  It operates on national, state and local levels by volunteers who are themselves impacted by mental illness.  And these volunteers go through extensive training to offer education, support and advocacy to those of us who have had our lives turned upside down.

So why is a real estate company spending time talking about mental illness? Because the Green Team cares about what happens in the communities we’re part of and which we serve. Every year we raise money for a local charity. This year, our committee felt that we should do something more than hold a fundraiser. We decided to team up with NAMI for an initiative to help end the stigma surrounding mental illness and to provide much needed information to our communities. Thus, this webinar was held, featuring two members of NAMI Orange who presented the personal side of mental illness as well as information and the services NAMI offers.

About our guest panelists

Marcy Felter and Sheila Sutton are working with the Green Team’s Team Up for Hope Committee, educating us on mental illness and the services that NAMI offers.  We are also working with Annie Glynn, President,  and Jeri Doherty, Treasurer, of NAMI Sussex.  Marcy and Sheila volunteered to do the webinar on behalf of both NAMI Affiliates.

Marcy is Chair of the Education Committee, teaches the NAMI Basics and Family to Family Courses, is a Family Support Group Facilitator and serves as a volunteer for Families Helping Families at Orange Regional Medical Center.  She is also teaching a new NEABPD (National Education Alliance on Borderline Personality Disorder) class on Borderline Personality Disorder.  Hosted by NAMI, this is the first class of its kind being offered in Orange County.

Sheila is a member of the Board of Directors and manages the lending library.  She also teaches the NAMI Basics and Family to Family Courses, is a Family Support Group Facilitator and serves as a volunteer for Families Helping Families at Orange Regional Medical Center. In the webinar, Sheila shares her powerful story of the effects of mental illness on her son and her family and how NAMI  changed her life.

To write or not to write, that is the question

As I watched the webinar, I realized that I could not do justice to what I was hearing and seeing.  To do so would be to rob it of its power, its intent, and its ability to reach people.  So I am going to ask everyone reading this to watch the webinar.  Spend a few minutes learning about the lives many of you, your family, your friends and your neighbors are living.  There are people living in the shadows, afraid of discrimination, bullying, being deserted by friends and family… being judged.  Imagine living in fear for a loved one, not understanding what had happened, where that person went, what to do when things got out of control and scary…    And then being thrown a lifeline by people like the two women talking to us. And that is exactly what NAMI is, a lifeline.

https://www.facebook.com/greenteamhq/videos/1147158258784487/

Want to learn more?  Here are some facts and resources from NAMI.ORG

Mental Health Facts in America

Mental Health Facts Children & Teens

Mental Health Conditions

Navigating a Mental Health Crisis

Taking Charge of your Mental Health

Want to Know How to Help a Friend?

Where to go for help

Local Nami Affiliates:

Orange County, NY

Email:  namiorangeny@warwick.net

Website:  namiorangeny.org

Telephone:  845-956-NAMI (6264) or Toll-free: 1-866-906-NAMI (6264)

FaceBook:  @namiorangecountyny, NAMI Orange Discussion Group

Sussex County, NJ

Email: nami.sussex@gmail.com

Website: www.nami-sussex-nj.org

Telephone: 9793-214-0632

Facebook:  @namisussex

NAMI National Helpline:

1-800-950-NAMI (6264) or info@nami.org

Crisis Text Line:  Text 741741 from anywhere in the USA to text with a trained Crisis Counselor

National Suicide Prevention Lifeline:

Call 1-800-273-8255

Online Chat:  https://suicidepreventionlifeline.org/chat

Mental Health First Aid Class – to learn how to identify, understand and respond to symptoms of mental illnesses and substance abuse disorders in your community

Website: https://www.mentalhealthfirstaid.org/