Geoff Geen, President of Green Team Realty, welcomed everyone to the October 2020 Housing Market Update. The webinar, held on Tuesday, October 20 at 2 p.m. examined the housing market on both national and local levels.
If you missed the webinar or would like to view it again, it’s available here.
Meet the Panel
October Housing Market Update panelists were Nancy Sardo, and Tammy Scotto of Green Team New York Realty, and Keren Gonenof Green Team New Jersey Realty. Also joining the discussion was Ken Aulicino, Mortgage Loan Originator at Family First Funding.
Can the housing market recovery be sustained?
The U.S housing market has been a “V-shaped” Recovery. However, inventory continues to decline and is a big challenge. So, can the housing market keep it up?
US Consumer Spending is almost in a V-shaped recovery. Unemployment has been coming down the last 6 to 7 months. The number of mortgages in active forbearance is decreasing. Prior to the Great Recession, it was a buyers market, due to the number of homes on the market. In the early 2000s, there was also a lot of new construction happening. Now, we are firmly in a sellers’ market. There are just not enough homes to satisfy the needs of the current market.
The shortage of inventory remains a major issue. According to Realtor.com,
“Since the beginning of the COVID pandemic in March, nearly 400,000 few homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory…
As a result, home prices are accelerating at double last year’s pace.”
According to the National Association of Realtors, Existing Home Sales are up by 10.5%. However, listings are down 39%. Listings for New Homes are down by 31%. However, sales of new homes have increased by 43%.
This really shows the inventory story.
In Orange County, NY, there are increases in units sold and in average sales price. Sussex County, NJ is now showing strong increases in average sales price, as well as in units sold.
Learn More, Watch the Webinar
Watch Geoff’s full presentation on national and local economic and real estate trends. In addition, our expert panel discusses their experiences in this market, including new construction. Click here to view the webinar.
Furthermore, you can compare prior statistics and trends. Click here for the September 2020 Housing Market Update.
Green Team New York Realty is happy to welcome Renee Guarino. As a Slate Hill resident of 25 years, Renee is more than familiar with Orange County. Her knowledge of the area is an asset to her clients.
Renee brings a special skill set to GTNYR
Renee Guarino was a Human Resource Specialist for 10 years. During that time she interviewed, hired, and trained for all positions for the company she worked for. Further, she was a dental office manager for 5 years. There, she scheduled appointments and checked patients out, did accounts receivable and accounts payable. Both of these positions offered skills of great customer service, time management, and interpersonal skills. All of these skills are important for a real estate sales associate.
The transition to real estate
Renee has sold and purchased 5 homes of her own. She thoroughly enjoys researching and viewing homes. Renee always wanted to sell real estate and decided now is the right time. She wants to help the next family find their dream home, just as she did. And, she believes, having experienced it herself, that while buying or selling a home can be challenging, with the right salesperson it can be an enjoyable event.
And in her free time
When she does have free time, Renee enjoys reading and traveling. She also likes to get out into the beautiful Orange County countryside by bicycling, hiking, and kayaking.
Krissy Many has achieved her CIREC Designation. She is expanding her expertise to better serve her clients with the Commercial & Investment Real Estate Certification
What The CIREC Designation Means
According to the NAR Code of Ethics, agents must have the proper training for specialized services. Agents undertaking the extensive CIREC course obtain the needed foundation to provide commercial and investment real estate services. A wide range of topics are covered. Included are tax implications, 1031 Exchanges, valuing property, and more. Also covered, preparation of financial analyses, and comparing financial impacts of leasing vs. buying. Furthermore, negotiating concepts and tactics are important parts of the course.
Congratulations from Geoff Green, President of Green Team Realty, to our 3rd Quarter Sales Leaders
3rd Quarter 2020 Sales Leaders for Green Team Realty have been announced. They are Jennifer DiCostanco for Green Team New York Realty and Keren Gonen of Green Team New Jersey Realty.
“Jennifer and Keren – Two big names in the Orange & Sussex County Real Estate business. It’s not easy to be the third quarter sales leader because it’s the biggest production quarter of the year for Realtors. Those who place the highest in Q3 are usually the annual winners as well. Both Jennifer and Keren are perennial All Stars in this industry and for good reason. They both work extremely hard in and on their businesses, and they both have exceptional reputations with their clients. Congratulations to both ladies and I have to say that I won’t be one bit surprised to see both of them do it again year after year.”
Jennifer DiCostanzo, Green Team New York Realty
This is not the first Sales Leader Award for Jennifer DiCostanzo. She has been the Yearly Sales Leader since joining Green Team in 2015. In addition, she was 1st Quarter Sales Leader for 2020. Jen received the MVP Awardin 2017 for more than $10 Million in sales. In 2019 she received that award for more than $12 Million in sales. She attributes her success to steadfast dedication to each of her clients. Furthermore, she has a plethora of knowledge and experience which is evident in each transaction and results in creating strategic approaches and facilitating solutions. Jen had this to say about achieving 3rd Quarter Sales Leader:
“Thank you to my clients and colleagues. We adapted to covid protocols and worked together safely during the strongest sales quarter of the year, during pandemic times.”
Keren Gonen, Green Team New Jersey Realty
This is not Keren Gonen‘s first time as a Sales Leader, either. This is her fourth time as Quarterly Sales Leader. Most recently, she was named Sales Leader for the 2nd Quarter of 2020. And in 2017, the year Keren started at Green Team New Jersey Realty, she was Yearly Sales Leader.
Keren said the following about her latest achievement:
“I was given this opportunity to say a few words about this achievement and although I am grateful for being in this place, at this time, I would like to say the following: I know how scary this time is for all of us. America is in turmoil, due to Corona, The Elections, The Economy, Our rights and Freedom and so much more. It is this uncertainty, now more than ever, that reminds us that our safe haven is our HOME. This is the reason for the spike in sales in Real Estate. We all want to feel SAFE. It is now, more than ever, that we look inside our homes and our hearts and decide what is important and what is not. It is now that we must all come together, not fall farther apart. To those who have chosen me as the one to accompany them on this journey, I am grateful. I hope that I have made, at least in part, your need to relocate a bit easier, a bit less stressful, and that I contributed some peace in these difficult times. For all of that, I am grateful.”