Buying a home • Selling a Home • May 23, 2022

Work With a Real Estate Professional if You Want the Best Advice

by Nicole McCormick

Because buying or selling a home is such a big decision in our lives, the need for clear, trustworthy information and guidance is crucial. And while no one can give you perfect advice, when you align yourself with an expert, you’ll get the best advice for your situation.

An Expert Will Give You the Best Advice Possible

Let’s say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to their office, they won’t immediately tell you how the case is going to end or how the judge or jury will rule. What a good attorney can do, though, is discuss the most effective strategies you can take. They may recommend one or two approaches they believe will work well for your case.

Then, they’ll leave you to make the decision on which option you want to pursue. Once you decide, they can help you put a plan together based on the facts at hand. They’ll use their expert knowledge to work toward the resolution you want and make whatever modifications in the strategy necessary to try and achieve that outcome.

Similarly, the job of a trusted real estate professional is to give you the best advice for your situation. Just like you can’t find a lawyer to give you perfect advice, you won’t find a real estate professional who can either. They can’t because it’s impossible to know exactly what’s going to happen throughout your transaction. They also can’t predict exactly what will happen with conditions in today’s housing market.

But an expert real estate advisor is knowledgeable about market trends and the ins and outs of the homebuying and selling process. With that knowledge, they can anticipate what could happen based on your situation and help you put together a solid plan. And they’ll guide you through the process, helping you make decisions along the way.

That’s the very definition of getting the best – not perfect – advice. And that’s the power of working with an expert real estate advisor.

Bottom Line

If you want trustworthy advice when buying or selling a home, let’s connect so you have an expert real estate advisor on your side.

Agency News and Awards • May 23, 2022

Lucyann Tinnirello steps down as Broker Manager of GTNYR

by Nicole McCormick

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Lucyann Tinnirello may be stepping down as Broker Manager of GTNYR, but that is by no means the end of her Green Team story. In fact, that story began in 1984, when Lucyann started her career with Geoff Green’s father at ERA Joseph Green Real Estate. From there, Lucyann worked at several other agencies, including co-owning her own firm. When she joined Green Team in 2008, she felt as though she had come full circle. In 2018, Lucyann was elected broker manager of [what was formerly known as] Green Team Home Selling System. Now, she is looking forward to working full-time with her clients.

A message from Geoff Green…

“LucyAnn has been an asset to our office as Broker Manager since she stepped into the role in 2018. Her experience in real estate made her the perfect candidate to not only handle the details of management but also to solve problems and help agents succeed. Additionally, Lucyann always exceeded our expectations in terms of caring for everyone in our Agency. Lucyann will always take the shirt off her back to help those around her, and she did just that for many of our Agents through the years. And, now that Lucyann has decided to step down as Broker Manager she will be re-focusing her time and energy on her own real estate sales, remaining as one of our beloved Agents.”

Lucyann’s Words of Wisdom

Lucyann lives by her credo, “It’s nice to be important but it’s more important to be nice.” It’s no surprise, then, that she is much-loved by fellow agents. When Lucyann comes across a quote that inspires her, she embraces and shares it. For instance, Lucyann has another quote, with a story behind it. She considers herself lucky to have attended a motivational workshop by the legendary former Notre Dame Football Coach, Lou Holtz. And, Lucyann took to heart his words: ‘WIN – What’s Important Now!” She’ll tell you the importance of staying in the moment,

Jennifer DiCostanzo

“Kindness and compassion are Lucyann’s trademarks. She supports agents with both personal and professional growth.”

Tiffany Megna

Tiffany Megna shared some of Lucyann’s quotes. For instance, instead of saying goodbye, Lucyann says, “Be safe!” The agents have trust in LucyAnn: if someone came to her with a problem, they knew their conversation would be kept confidential. She would always conclude the discussions with ” It’s your story to tell” letting them know that it would be safe in the Lucyann vault. Tiffany and Lucyann also created their own saying, by shortening “Hello, Lucyann,” to “HiLu!” This is now a regular greeting.

Krissy Many

“When I reflect back on the time she served; I am most appreciative for her making herself available and her undying support of her agents. She always had our backs ( and if needed; told us privately what we did wrong). Lucyann was a defender! She was “Switzerland.” I appreciated her wisdom and sense of humor, and look forward to enjoying her company in the office as she has an abundance of both!! She is thoughtful and often surprised us at our breakfast meetings with tokens of love and kindness. That is just who she is…. Thoughtful, kind, funny, and supportive. I will never hear the phrases “Be Safe” and “It is nice to be important but more important to be nice!” and not think of Lucyann. Thanks to Lucyann her for her support and service. I wish her the very best in the next chapter of her business”.

Nancy Sardo

“Lucyann has a genuine, unconditional love for people. She can be defined by her ability to do her very best to make things go as smoothly as possible in this crazy world of real estate, she will be missed as our Broker Manager. However, I am sure she is going to welcome the extra time with her beautiful family and grandchildren. Be Safe Lou–Love”

Morgan Beattie

“Ever since starting at Green Team, Lucyann has welcomed me with open arms. She is the person you can go to for anything. It can be a real estate question or even life advice, Lu will always be there for you no matter what.”

A celebration to say Thank You, Lucyann!

And what better way to celebrate than Happy Hour at Warwick Thai! A group of Green Team Sales Associates gathered to say thank you on Lucyann’s last day as broker manager. Stepping up to that position is Carol Buchanan, who will be featured in an upcoming post. Lucyann proudly held up a card, which reads: “I’m not old – I’m Vintage!”

https://youtu.be/bt9yradu3IQ

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Buying a home • Housing Market News • May 20, 2022

Don’t Let Rising Inflation Delay Your Homeownership Plans [INFOGRAPHIC]

by Nicole McCormick

Don’t Let Rising Inflation Delay Your Homeownership Plans INFOGRAPHIC] | MyKCM

Some Highlights

If recent headlines about rising inflation are making you wonder if it’s still a good time to buy, here’s what experts have to say.
Housing is an asset that typically grows in value. Plus, your mortgage helps stabilize your monthly housing costs, and buying protects you from rising rents.
Experts say owning a home is historically a good hedge against inflation. Let’s connect if you’re ready to start the homebuying process today.

Agency News and Awards • May 20, 2022

The Largest Green to Green Residential Sale

by Nicole McCormick

Congratulations to Jennifer DiCostanzo as the listing agent for 30 Cardinal Lane. This magnificent home sold for $1,490,000, the largest residential Green Team to Green Team listing sale to date. Tiffany Megna represented the buyers.

Jennifer DiCostanzo

Listing and showing high-end luxury homes requires a real estate professional who understands the quintessential details the property offers, aligning to the buyer’s specific criteria. Jennifer has expertise in marketing such homes, as was the case with 30 Cardinal Lane. This magnificent home was built to provide sustainability, privacy, and luxury living, both indoors and out. By customizing marketing approaches for her selling clients, Jennifer understands the uniqueness of each property. She intuitively captures buyers’ interest with strategic strategies emphasizing the lifestyle and story these prestigious homes offer to prospective buyers- case in point 30 Cardinal Lane.

Tiffany Megna

Tiffany Megna works hard, with her goal to be better every year. A former teacher, Tiffany understands the importance of listening and understanding her clients’ needs. She has achieved designations as a Pricing Strategy Advisor, Accredited Buyer Representative, and an At Home with Diversity certification. Furthermore, she has her Seller Representative Specialist and Short Sales and Foreclosure Resource certifications. With each designation, she feels she has more to offer her clients.

A dynamic Team

The real estate market has been booming since the pandemic affected the way we live and our ideas of what a home should be. Jennifer has been working non-stop and for the 6th straight year, is GTNYR Yearly Sales Leader, as well as the Q1 Sales Leader for 2022. Tiffany, also working non-stop, is ranked 2nd in Green Team New York Realty sales for 2021.

Now take a video tour of this magnificent home and property…

For many homebuyers, the beauty of Orange County, NY, and its picturesque villages and towns provide the perfect lifestyle balance with all the recreational amenities they desire. Ultimately, this property showcases some of the best that Orange County has to offer.

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Housing Market News • May 19, 2022

The One Thing Every Homeowner Needs To Know About a Recession

by Nicole McCormick

A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn’t mean homes will lose value.

The National Bureau of Economic Research (NBER) defines a recession this way:

“A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion.”

To help show that home prices don’t fall every time there’s a recession, take a look at the historical data. There have been six recessions in this country over the past four decades. As the graph below shows, looking at the recessions going all the way back to the 1980s, home prices appreciated four times and depreciated only two times. So, historically, there’s proof that when the economy slows down, it doesn’t mean home values will fall or depreciate.

The first occasion on the graph when home values depreciated was in the early 1990s when home prices dropped by less than 2%. It happened again during the housing crisis in 2008 when home values declined by almost 20%. Most people vividly remember the housing crisis in 2008 and think if we were to fall into a recession that we’d repeat what happened then. But this housing market isn’t a bubble that’s about to burst. The fundamentals are very different today than they were in 2008. So, we shouldn’t assume we’re heading down the same path.

Bottom Line

We’re not in a recession in this country, but if one is coming, it doesn’t mean homes will lose value. History proves a recession doesn’t equal a housing crisis.

Agency News and Awards • May 19, 2022

2021 Circle Of Excellence Awards Ceremony

by Nicole McCormick

“New Jersey Realtors® is proud to have members who are experts in their fields, advocates in their communities and leaders amongst their peers. Throughout the year, New Jersey Realtors® honors the accomplishments of select members through prestigious awards.”

On Wednesday, May 18th, Green Team Realty agents attended the Annual Circle of Excellence Extravaganza Ceremony hosted by SCAR. This event is held to recognize and celebrate Realtors® who have achieved outstanding results.

The 2021 Circle Of Excellence Awards Levels Are as follows:

Platinum: $20 million and 30 units minimum, or 125 units
Gold: $12 million and 25 units minimum, or 90 units
Silver: $6.5 million and 20 units minimum, or 70 units
Bronze: $2.5 million and 15 units minimum, or 30 units”

Most noteworthy, this is the first year Green Team New Jersey Realty has had a sales associate in each of the four categories.

Green Team New Jersey’s NJ Realtors® Circle Of Excellence® Sales Award® Recipients Are:

Keren Gonen is the first to reach the Platinum Level for more than $20 million in sales.

Kristi Anderson achieved Gold Level, with over $12 million in sales.

The Dynamic Duo of Charles Nagy and Theodore Van Laar each received the silver award.

And Barbara Tesa and Pamela Zachowski were awarded the bronze award.

Congratulations on your outstanding accomplishments!

Buying a home • Housing Market News • May 18, 2022

How Homeownership Can Bring You Joy

by Nicole McCormick

If you’re trying to decide whether to rent or buy a home, you’re probably weighing a few different factors. The financial benefits of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but the decision can also be motivated by having a place that’s uniquely your own.

If you want to express yourself by upgrading and customizing your living space but are feeling held back by your rental agreement, it might be time to consider the perks of owning your home.

A Little Change Can Bring Lots of Joy

There’s a significant level of pride that comes from owning a home. That’s because it’s a space that truly belongs to you.

A recent report from the National Association of Realtors (NAR) shows making updates or remodeling your home can help you feel more at ease and comfortable in your living space. NAR measures this with a Joy Score that indicates how much happiness specific home upgrades bring. According to NAR:

“There were numerous interior projects that received a perfect Joy Score of 10: paint entire interior of home, paint one room of home, add a new home office, hardwood flooring refinish, new wood flooring, closet renovation, insulation upgrade, and attic conversion to living area.”

The report also breaks down just how much each of these projects can enhance your emotional attachment to your home, even leading you to want to spend even more time in the space (see graph below):

And while many of the items NAR highlights are larger tasks, some, like painting rooms, are much smaller. Even those quicker projects can still bring you a greater sense of joy and accomplishment. Not to mention when you make upgrades in your home, you could be increasing its value which also gives your net worth a boost if you invest your time and effort wisely.

You’re Free To Update Your Home to Your Heart’s Content

These types of updates can result in additional happiness when you complete them, but there’s another reason you can feel good as a homeowner. In most situations, you’re free to renovate or update the interior of your home without needing additional permission. But as Business Insider points out, renters may not have the same freedom:

“Your landlord won’t always approve changes when you rent. But you have the power to update the home when you’re the owner. (Just make sure any big changes are approved by your homeowner’s association, if necessary.)”

If you do make changes as a renter, there’s a good chance you’ll need to revert them back at the end of your lease based on your rental agreement. That can add additional costs when you move out. That’s one major benefit of owning your own home. Unless there are specific homeowner’s association requirements, you typically won’t have to worry about the changes you can and can’t make.

Bottom Line

Deciding whether to rent or buy is a personal decision. The financial benefits are critical, but don’t overlook the emotional impact homeownership can have. Let’s connect to discuss all the benefits you can enjoy when you purchase your own home.

Buying a home • Housing Market News • Mortgage and Home Loans • May 17, 2022

Why Rising Mortgage Rates Push Buyers off the Fence

by Nicole McCormick

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans.

Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy.

A Look Back: How the Current Mortgage Rate Compares to Historical Data

One factor that could help you make your decision to buy now is how today’s mortgage rates compare to historical data. While higher than the average 30-year fixed rate in recent years, the latest rates are still comparatively low when you look at the bigger picture of where rates have been since 1971 (see graph below):

Mark Fleming, Chief Economist at First American, explains it like this:

“. . . historical context is important. An average 30-year, fixed mortgage rate of 5.5 percent is still well below the historical average of nearly 8 percent.”

If you’re deciding whether to buy now or wait, this is important context to have. Today’s mortgage rate still gives you a window of opportunity to lock in a rate that’s comparatively lower than decades past.

A Look Ahead: What Happens if Rates Climb Further

The buyers who are springing into action now are also motivated to make their move because they know rates have risen steadily this year, and they’re eager to get ahead of any further increases.

Why? When mortgage rates climb, they impact the monthly mortgage payment you’ll have on the home you’re buying. Basically, it’ll likely cost you more to buy a home if you wait. Experts say mortgage rates will rise (although more moderately) in the months ahead. Odeta Kushi, Deputy Chief Economist at First American, explains:

“. . . ongoing inflationary pressure remains likely to push mortgage rates even higher in the months to come.”

So, if you’re ready and financially able to buy now, it may make more sense to get off the fence and make your purchase sooner rather than later. As Nadia Evangelou, Senior Economist at the National Association of Realtors (NAR), says:

“With even higher interest rates on the horizon, I don’t see any reason to hold off from purchasing a home right now. If you feel financially secure, you should start looking for a home.”

At the end of the day, there is no perfect advice on when to buy a home. What you should do depends on your goals, your finances, and your personal situation. Use this information with the help of local real estate professionals to make an informed decision on what’s best for you. The Mortgage Reports sums it up best:

“. . . if you’re on the fence about whether to buy now or wait for a better deal, buying sooner rather than later might be wise. That said, home buying is always a personal decision. Whether you should buy in 2022 depends on your financial situation and the local housing market where you live.”

Bottom Line

For many buyers, rising mortgage rates are motivating them to act now and make a purchase before rates rise higher. To decide what move is best for you, let’s connect so you have expert advice on your side.

Housing Market News • Selling a Home • May 16, 2022

If You’re a Homeowner, You Have Incredible Leverage When You Sell Today

by Nicole McCormick

In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That’s because there’s a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things:

To be the winning bid on their dream home
To buy before mortgage rates rise more
To buy before home prices go even higher

These buyer needs give you an amazing advantage – also known as leverage – when you sell.

What Does This Mean for Sellers Today?

You might already realize this enables you to sell at a good price, but you’re also in a great position to get the best terms to suit your needs.

According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), the average home sold is receiving 4.8 offers. That’s why there’s a good chance you’ll get offers from multiple buyers who are willing to compete for your house. When you do, you should look closely at the terms of each offer to find out which one has the best options for you.

And if you have questions at any point in the process, remember your trusted real estate advisor can help. They’re experts who understand the fine print, know how to compare the terms of various offers, and will help you select the best one for your situation.

Bottom Line

If you’re thinking of selling your home, know buyer demand in today’s market gives you a great opportunity to get the best terms and price when you sell your house. Let’s connect today to discuss how much leverage you have as a seller in today’s market.

Housing Market News • Selling a Home • May 13, 2022

Should You Update Your House Before Selling? Ask a Real Estate Professional. [INFOGRAPHIC]

by Nicole McCormick

Should You Update Your House Before Selling? Ask a Real Estate Professional. [INFOGRAPHIC] | MyKCM

Some Highlights

If you’re deciding whether you should make updates before you sell your house, lean on your trusted real estate advisor to be your guide.
In today’s sellers’ market, buyers have limited options and may be more willing to take on repairs themselves.
If you’re thinking about selling your house, let’s connect so you have expert advice that’s customized to your home and our local area.

An Expert Will Give You the Best Advice Possible

Bottom Line

A message from Geoff Green…

Lucyann’s Words of Wisdom

Jennifer DiCostanzo

Tiffany Megna

Krissy Many

Nancy Sardo

Morgan Beattie

A celebration to say Thank You, Lucyann!

Some Highlights

Jennifer DiCostanzo

Tiffany Megna

A dynamic Team

Now take a video tour of this magnificent home and property…

Bottom Line

The 2021 Circle Of Excellence Awards Levels Are as follows:

Green Team New Jersey’s NJ Realtors® Circle Of Excellence® Sales Award® Recipients Are:

A Little Change Can Bring Lots of Joy

You’re Free To Update Your Home to Your Heart’s Content

Bottom Line

A Look Back: How the Current Mortgage Rate Compares to Historical Data

A Look Ahead: What Happens if Rates Climb Further

Bottom Line

What Does This Mean for Sellers Today?

Bottom Line

Some Highlights

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