With the housing crash of 2006-2008 still visible in the rear-view mirror, many are concerned the current correction in the stock market is a sign that home values are also about to tumble. What’s taking place today, however, is nothing like what happened the last time. The S&P 500 did fall by over fifty percent from October 2007 to March 2009, and home values did depreciate in 2007, 2008, and 2009 – but that was because that economic slowdown was mainly caused by a collapsing real estate market and a meltdown in the mortgage market.
This time, the stock market correction is being caused by an outside event (the coronavirus) with no connection to the housing industry. Many experts are saying the current situation is much more reminiscent of the challenges we had when the dot.com crash was immediately followed by 9/11. As an example, David Rosenberg, Chief Economist with Gluskin Sheff + Associates Inc., recently explained:
“What 9/11 has in common with what is happening today is that this shock has also generated fear, angst and anxiety among the general public. People avoided crowds then as they believed another terrorist attack was coming and are acting the same today to avoid getting sick. The same parts of the economy are under pressure ─ airlines, leisure, hospitality, restaurants, entertainment ─ consumer discretionary services in general.”
Since the current situation resembles the stock market correction in the early 2000s, let’s review what happened to home values during that time.The S&P dropped 45% between September 2000 and October 2002. Home prices, on the other hand, appreciated nicely at the same time. That stock market correction proved not to have any negative impact on home values.
If the current situation is more like the markets in the early 2000s versus the markets during the Great Recession, home values should be minimally affected, if at all.
Paul Simon’s beautiful ode to the changing of the seasons seems like the appropriate theme song for this post. April has arrived, and with her come blooming trees and flowers and lush, green lawns. We’re greeted with the songs of birds in the morning, and the chirping of crickets after dark. And we are more than ready to shake off those winter blues and welcome Spring into our lives.
Clean for Spring…
For many, the arrival of spring is synonymous with deep cleaning. Idreamofclean.net has the ultimate checklist. And, for those who may not dream of clean, check out Popsugar.com’s simpler checklist.
With a clean, fresh canvas, you’re ready to accessorize and make changes that bring the outdoors in. Decoraid.com shares spring decorating trends for 2019. And, while you’re bringing the outdoors in, Housebeautiful.com shares some house plants that can help you get a good night’s sleep.
Take it outside…
As the weather gets warmer, we spend more and more time outdoors. Now is the perfect time to create the outside living space of your dreams. So Housebeautiful.com has ideas to inspire amazing backyard escapes. Furthermore, kids need their own space to escape to. And homebnc.com has some great ideas for play areas. Furthermore, it’s great when adults and kids can work together on projects for the home. These DIY projects will enhance your garden while you have fun!
Celebrate Earth Day…
The first Earth Day celebration took place on April 22, 1970, 49 years ago! To learn more, click here.
An Earth Day Celebration will be held at the Outdoor Discovery Center at Hudson Highlands Nature Museum in Cornwall on Saturday, April 27, from 11 a.m. to 3 p.m. Activities are designed for family fun and learning. They include nature play, storytelling and puppetry, interactive games and activities, music, hay rides, a community art project and more. And the celebration kicks off with a Hike-a-Thon at 9 a.m.!
Vernon Earthfest 2019 will take place on Sunday, April 28 from 11 a.m. to 4 p.m. at Heaven Hill Farm and Garden Center. With live music throughout the day, there will also be face painting, gem mining, and a showcase of photography by local high school students and artwork by local elementary students. In addition, presenters include the Delaware Valley Raptor Center, Honeybees and the Environment, Snakes ‘n Scales (and Scary Critters) and Eyes of the Wild (Unusual Animals). Visit the website for details.
Earth Fest Warwick will be held on Saturday, May 4 and Sunday, May 5. There will be several events going on at Stanley Deming Park. The 3rd Annual Too Good to Toss community swap celebrates re-use, repair, and re-creating! Treecycle, hosted by local artists and makers, welcomes you to join in hands-on re-purposing and up-cycling, a bike check-up clinic, music, dance, food, information and more!
DIY Projects for Earth Day… and everyday!
Of course everyday is Earth Day, and GoodAirGeeks.com has lots of DIY ideas for projects for adults, kids, schools, community service and more. And if you’d like some more ideas, there is always Pinterest to provide you with lots of earth-friendly projects.
Come see this spectacular custom home with gorgeous views!
Hosted by Keren Gonen…snacks will be served.
Spectacular Views year round from this 7 LEVELS Custom Home. Nothing to do, but move in! Custom made Railings, doors & tiles. This Spectacular Custom home offers lots of windows for natural light to come in. Luxury at it’s best with 4 Rumford fire places, 4 Full baths, 2 half baths, 5 Bedrooms. Amazing eat in kitchen space, granite top counters and island, separate dining room for entertaining, Gaming loft on top and so much more! Walkout basement to the sprawling hills of Sussex county. It’s A MUST SEE!
Has Nancy Sardo ever helped you in the past with something in your life? If so, would you consider returning the favor to help Nancy Sardo grow her business? If the answer is yes, simply spend as much time on the below list as you can. We realize that you have a very busy life, so just do as many of the below listed items as you see fit. Every bit of positive feedback that you give helps Nancy grow her business. Thank you in advance for your time.
5) Click here to give Nancy a review on Google – You will need a google account, ie Gmail account, in order to accomplish this, so if you do not have a Google/Gmail account simply move on to number 6!! When you click the above link you will see our Google Page. The image to the left shows you the location of the “Write a Review” button.
6) Click here to give Nancy a review on Yelp. You will need to sign in to Yelp.com in order to accomplish this, so if you do not have a Yelp.com account , or do not wish to create one, simply move on to number 7!!
7) Send Nancy a written testimonial through our website! See the image at the bottom of the screen which will show you the button you need to click in order to do this. Click here to get started.
8) Send Nancy a written testimonial via email. Simply tell her how she did, if you would recommend her, and why. Please also state in your email that you give Nancy permission to use your words in her marketing.
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, and he was founder and director of the Warwick AAU Basketball program. It’s no surprise that Tom graduated with a B.S. with Honors in Physical Education and Health from Slippery Rock University. He then went on to receive his M.S. from Montclair University with a degree in Sports Administration.
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. After 37 years with the WVCS District, Tom retired from teaching in 2014 and from coaching in 2017.
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.
Tom has been married to his beautiful wife, Nancy, for 29 years. Nancy is a Director of Nursing at White Plains Hospital. Tom and Nancy have two sons, both graduates of the Warwick Valley Central School system. Thomas, their eldest son, is a 4th-year medical student at NYCOM and will begin his residency in June of 2018. Youngest son, Tyler, recently graduated from Pratt Institute with a Bachelor’s Degree in Architecture, and he is now pursuing his Master’s Degree in Real Estate Development at Columbia University.
When asked why he chose the Green Team Home Selling System to work with, Tom said that was easily answered in two words: “Geoff Green.” It seems that Tom coached Geoff some years ago and even then was impressed by the young man’s incredible work ethic, perseverance, and leadership skills. So now we have a former coach and former player … together on the same team again!
Many homeowners believe that rising interest rates and home prices have scared away buyers and therefore have not listed their houses for sale. However, the truth is that buyers who were unable to find a home last year are out in force, and there are even more coming!
“Approximately one-third (32%) of Americans plan to purchase a home in the next five years. Millennials are most likely to have such a purchase in their five-year plan (49%), versus 35% of Generation X and 17% of baby boomers.”
As we can see, buyers are optimistic! According to the report, here are the top reasons Americans plan to buy:
The most common reason Americans prioritize buying is that they believe it’s a good investment!
If you’re a homeowner looking to sell, 2019 is the perfect year to put your house on the market. But why?
Buyers want to buy
At least 3 of the renowned organizations that report on real estate market trends predict that homeowners are going to wait until 2020 to list their homes, leading to a nice increase in sales (as shown in the graph below).
Don’t wait for a competitive market; be ahead of the curve and sell your house at the best possible price!
There are plenty of buyers entering the market! Whether you’re a first-time homebuyer or a current homeowner looking to move-up to your next home, let’s get together to discuss your real estate needs!
Related News and Information
[frontpage_news widget=”8945″ name=”Page Slider All Blog Categories”]