Green Team – GreenTeamRealty.com
3 Things to Know in the Housing Market Today!  Copy

3 Things to Know in the Housing Market Today! Copy

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.

Bottom Line

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.

3 Things to Know in the Housing Market Today!

3 Things to Know in the Housing Market Today!

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.

Bottom Line

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.

CLOSING COSTS WHEN BUYING A HOME

CLOSING COSTS WHEN BUYING A HOME

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
Appraisal fees
Credit report fees
Lender origination fees
Title services (insurance, search fees)
Tax service fees
Survey fees
Attorney fees
Underwriting 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.

BOTTOM LINE
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.

The Merry Month of May – places to go in Orange and Sussex Counties and ideas for your home

The Merry Month of May – places to go in Orange and Sussex Counties and ideas for your home

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.

Farmer’s Markets

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.

Wineries

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.

https://orangetourism.org/explore/attractions/wineries-and-breweries/wineries/

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 2019 Launch Competition Was a Big Success

Green Team Realty’s 2019 Launch Competition Was a Big Success

GT 2019 Launch Logo,

 

 

 

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!

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