Krissy Many of Green Team New York Realty has achieved Military Relocation Professional (MRP) Designation. This certification prepares real estate professionals to work with current and former military service members. Importantly, the course addresses finding the right housing solutions and taking full advantage of military benefits and support.
NAR’s Military Relocation Professional Certification
When military staff and their families relocate, the services of a real estate professional who understands their needs and timetables makes the transfer easier, faster, and less stressful. This certification focuses on educating real estate professionals about working with current and former military service membersto find the housing solutions that best suit their needs and take full advantage of military benefits and support. Course participants learn to provide the real estate services, at any stage in the service member’s military career, that meet the needs of this niche market and win future referrals. In addition, participants hone their knowledge and skills to work with active-duty military buyers and sellers, as well as veterans with the NAR’s Military Relocation Professional Certification.
When asked why she decided to obtain this certification, Krissy replied:
“Veterans and their families do what they do so we can do what we do in comfort and safety. I sought this designation so that in some small way I can show my support for our military. Maybe, just maybe, I can make their relocation and home selection a little easier and smoother. The benefit of this training and designation is that I will speak and understand their language as well as their time frames. Military personnel speak a language all their own and it is full acronyms! Their needs, timing and challenges are unique to them. I understand these factors and can be a source of information, guidance and support to our military families in their real estate needs.”
Geoff Green, President of Green Team Realty, welcomed everyone to the July 2020 Housing Market Update. The webinar, which was held on Tuesday, July 24 at 2 p.m., examined the housing market on national and local levels, in light of the impact of various economic factors resulting from the Covid-19 pandemic.
If you missed the webinar or would like to view it again, it is available here.
Meet the panel
Following a review of the national and local stats, Geoff checked in with the panel. Sales Associates from Green Team New York Realty and Green Team New Jersey Realty shared what was happening in their respective states and communities. Covid-19 regulations on the real estate industries in New York and New Jersey have differed, with varying results. The July 2020 Housing Market Update panelists were Keren Gonen, Pam Zachowski, and Kristi Anderson, who discussed the Vernon and Sussex County, NJ market. Toni Kreusch shared her experiences and views on the Warwick and Orange County, NY market. Additionally, our guest panelist, Ken Aulicino, Mortgage Loan Originator with Family First Funding, shared his expertise and experiences.
First, though, here are some of the stats presented by Geoff.
It’s all about jobs, jobs, jobs
The consensus of various experts was that the US would add 3,000,000 new jobs in June. However, the actual number of jobs added was 4,800,000. While that’s a good number, there is more to the story. The Bureau of Labor Statistics reported that the unemployment rate for June was 11.1%. In March, just before Covid-necessitated shut-downs, unemployment was at 4.4%. In April, it shot up to 14.7%. Then in May it declined to 13.3% So it would appear unemployment is trending downwards. However, it’s just not that simple.
The core unemployment rate is trending upwards. Geoff took a look at historical core unemployment rates to bring things into perspective. How many companies will actually be bringing jobs back?
Real Estate Metrics
Forbearances & Foreclosures
Geoff predicted that we’ll be hearing more and more about forbearances and foreclosures in the media. Of all active forbearances past due, 77% had at least 20% equity in their homes. Of these, 59% had 30% or more equity. According to Geoff, not many people will walk away from the equity they have in their homes. As long as pricing stays intact and doesn’t plummet, many homeowners will do their best to stay in their homes and keep their mortgages going.
According to Showingtime.com, showing activity is up big time. Year-over-year, the showing index is up nationally by 21.4%. Inventory has been a problem for a while, but it’s exacerbated now. The long term average of households currently on the market is 2.4% Currently that number is down to 1.2%. How does this impact pricing? It is all about supply and demand.
To learn more, watch the webinar
Watch the videoto hear what the experts had to say, as well as to see Geoff’s full presentation on national and local economic and real estate trends. To compare with what was happening last month, click here for the June 2020 Housing Market Update.
Rebecca Hundley with Green Team Realty has been awarded the National Association of REALTORS®’ [NAR’s] Green Designation, the only green real estate professional designation recognized by NAR.
Rebecca’s journey into energy-efficient living started around 20 years ago. That is when she purchased her first home. According to Rebecca, “I think, just like everyone else, my initial motivation was to reduce my utility bills. But over the years, it has morphed into a passion for me. Once you start making energy-efficient modifications to your home, it’s natural to see how these benefits affect both your wallet and your carbon footprint.”
Rebecca achieved this prestigious designation after completing topic-specific course work created in collaboration with a multidisciplinary team of industry experts from across the country, and designed specifically for REALTORS®. What drew Rebecca to the NAR program was that it is distinctly different from other, similar training programs. While most focus on new home construction, this course concentrates on improving resource-efficiency in existing homes. It provides a knowledge base of green issues through objective, unbiased information that Rebecca looks forward to sharing with her clients.
Licensed in both New York and New Jersey, as a NAR Green Designee, Rebecca has gained the knowledge and the tools necessary to become a trusted green resource for Warwick, Vernon and surrounding areas. For more information about Rebecca Hundley, please visit GreenTeamRealty.com or call her at 973-801-8765.
For more information about NAR’s Green Designation, visit green.realtor
Geoff had the following to say about Chris’s achievement:
“Chris Kimiecik is a shining example of “success begets success.” Here is a guy who runs one of the most successful landscaping companies in Orange County and yet he finds time to not only become a Realtor, but to be very successful at doing so. Chris will be the first one to point out that he couldn’t do it all without the support of his wife Megan who plays an integral role in his Real Estate business. This is the first Quarterly Sales Leader award for Chris, but I am certain that there will be more. Congratulations Chris and Megan!”
Chris on being 2Q Sales Leader
“Our clients, my wife and real estate partner, Megan, and the support of The Green Team “Warwick” all played a part on this journey to Q2 sales leader. Through diversified businesses that integrate with each other, and our partnership with the Green Team, we are able to offer an unmatched experience. When you surround yourself with the right people and team, anything is possible. We look forward to working with you, your friends, your family and anyone considering buying or selling a home in Warwick NY and surrounding area.”
Keren Gonen, Green Team New Jersey Realty
Geoff said the following about Keren’s latest achievement:
“If it wasn’t clear before, it should be abundantly clear to everyone now that Keren Gonen is going to top the production charts in her market territory for many years to come. No one works harder and cares more for her clients then Keren. We are extremely blessed to have Keren as part of Green Team New Jersey Realty. Congratulations Keren, and keep up the good work!”
This is not Keren’s first time as a Sales Leader. This is her third time as Quarterly Sales Leader. And in 2017, the year Keren started at Green Team New Jersey Realty, she was Yearly Sales Leader.
Keren on being 2Q Sales Leader
Keren had this to say about her latest achievement:
“I am very grateful to be the Second Quarter Sales Leader! 2020 started out really well for me in the Real Estate Market as it did for many others. I contribute this to the networking group I am a part of (Referral Roundtable), my involvement in the Community, and my overall work ethic. I am that agent that gets up at 5 am to finish paperwork and still is out with clients late in the evening.
This Pandemic that has aggressively changed all of our lives, also changed the Housing Market. Like many others, working during COVID-19 means that I was able to assist clients running away from The City and into “The Country.” Working seven days a week, coordinating showings during Corona, along with inspections, appraisals, and being mindful of how cautious we all must be during this process meant that I was able to help more people get into new homes. Although Real Estate Agents were not deemed “Essential Workers” and thank God for those people who put their lives on the line every day and continue to do so, I believe that Real Estate Agents made the mass exodus from NYC possible for many people that were hopeless and quarantined. This made us Agents essential to those people seeking a different way of life.”
Green Team Realty’s June 2020 Housing Market Update addresses the economic impact of COVID-19 on the real estate market. However, we know that many individuals, families, and businesses have been personally impacted by the pandemic. To all those diagnosed with COVID-19, or who have loved ones with the virus, we wish you a fast, full recovery. To all who have lost someone to COVID-19, our thoughts and prayers are with you. And, while there are a lot of positives to report this month, we realize that many are suffering financial hardships, stress, and anxiety. These are very difficult times, but to quote Geoff Green,
Together we will persevere!
GeoffGreen, President of Green Team Realty, welcomed everyone to the June 2020 Housing Market Update. The webinar was held on Tuesday, June 16 at 2 p.m. Geoff shares both national and local stats. Furthermore, he checks in with those who have “boots on the ground.” Sales Associates from Green Team New York Realty and Green Team New Jersey Realty share what’s happening in their respective states and communities. There are different regulations for the real estate industry in New York and New Jersey. Thus, there are differing impacts on what is happening in each state. In addition, our guest panelist shares information on the current mortgage market.
If you missed the webinar or would like to view it again, it’s available here:
Meet the “Power Panel”
The June 2020 Housing Market Update panel shared their observations, experiences, and expertise in this Covid-19 market. Keren Gonen and Pam Zachowski with Green Team New Jersey Realty talked about Vernon and the Sussex County NJ market. Carol Buchanan, with Green Team New York Realty, discussed Warwick and the Orange County NY market. Laura Moritz, Director of Sales, Northeast Region at Classic Mortgage LLC shared her experiences with financing and refinancing in a Covid-19 market. Watch the above video to hear what the experts had to say.
Let’s start with the jobs market and overall economy
To see where we were last month, click here for the May 2020 Housing Market Update.
According to CNBC,
The May gain was by far the biggest one-month jobs surge in US history since 1939.
Over 75% of job losses were temporary layoffs or furloughs. The Federal Reserve Bank’s May report indicated there were news reports of large-scale hiring at companies like Amazon, Walmart, CVS Healthcare, Domino’s Pizza, etc., due to increased demand.
The Wall Street Journal reported:
Employers added 2.5 million jobs, blowing Wall Street expectations out of the water. Economists had forecast a loss of 8.3 million jobs.
And on to the housing market
According to Ivy Zelman, CEO of Zelman & Associates,
Housing will fare better than expected during this severe downturn.
Home prices are expected to continue to appreciate through 2022, according to several respected industry experts.
According to Diana Olick of CNBC,
Mortgage demand from home buyers shows unexpectedy strong and quick recovery… The quick recovery has surprised most forecasters.
Pending sales and new listings are up from the previous month, according to Zillow’s June report. People are becoming more confident in putting their homes on the market than they were in the early days of the pandemic. Foot traffic was practically non-existent.
The percentage of distressed property sales is at a very low number. The projection is that it will continue to decrease, from 4% to 3%. What lead the last downturn in 2008 was that there were so many distressed properties. Another interesting fact is that most American’s choose real estate as the best long-term investment, over stocks, savings accounts, and gold. This is another sign that confidence in real estate is high.
Freddie Mac’s projections through 2021 indicate that rates will remain low. The availability of money drives pricing. Despite all the turbulence we’ve been experiencing, things are looking good in the real estate market.
National and Local Stats on Units Sold & Average Sales Price
On the national level, there was a big drop off in units sold in April, compared to the last four years. (National stats lag 30 days behind. We’ll have May stats in the July Housing Market Update). Geoff fully expects the numbers to rise in June, July, and August, perhaps even surpassing previous years’ numbers. Home prices continue to increase, despite the decrease in traffic, a result of supply and demand. There are simply not enough homes available for sale for all the people who want to buy them. Months of inventory is showing an uptick, though we’re still far below having the 6 months of inventory that would indicate a normal market. We are in a seller’s market, with lots of bidding wars and lots of homes selling above asking price.
In Orange County, New York, we have a bounce-back on units sold from April to May. The average sales price is staying level, but at a high level compared to previous years. Supply and demand should keep sales price high. In Sussex County, New Jersey, units sold have been on an upward trend and never really came down. Average price is still up over the past four years.
To reach any of the June 2020 Housing Market Update panelists,