Agency News and Awards • April 4, 2022

Agent Spotlight on Charles Nagy

by Nicole McCormick

This month the Green Team Realty Agent Spotlight is on Charles Nagy.

Charles Nagy resides in Crystal Springs with his wife Lynne. He enjoys playing golf and being involved in many of the other activities in the community. Through his pursuit of continuing real estate education, he obtained his certification as a Short Sale and Foreclosure Resource. Charles has been involved with different aspects of the real estate business for over 40 years. This includes the creation and sale of real estate tax-sheltered investment offerings; real estate management of high rises and garden apartment complexes; the development of raw land for the construction of residential homes and for 18 years, as a builder of residential properties. Consequently, it is no surprise that Charles decided to involve himself in the marketing and sale of real estate to prospective homeowners. With the wealth of knowledge and experience that Charles brings with him to the team of Agents at Green Team New Jersey Realty, he is able to deal with any issues that may arise in the course of selling homes which enables him to better assist buyers with their decisions.

Charlie is one-half of Green Team New Jersey Realty’s Dynamic Duo!

Their experiences in the real estate industry differ, yet they complement each other. The other member of the Duo is Ted Van Laar. Ted’s specialty is resort properties. Back in 1979 Ted and his wife, Rosanne, became attracted to the beauty, lifestyle, and amenities offered in Vernon’s resorts. Through the years they have shared their love and enjoyment of Mountain Creek, Crystal Springs, and Great Gorge resort area with their three children. They’ve also shared it with friends, family, and Ted’s many clients. Ted has a reputation for integrity and honesty, as well as appreciation and understanding of the resort lifestyle. Therefore, his clients like and trust his expertise, whether they’re looking for a private residence, second home, or investment property.

For some reason, these two diverse backgrounds meld together to form a productive, successful team. Charles and Ted have also been recipients of the New Jersey Realtors ® Circle of Excellence Award multiple times between 2014 to 2021. In fact, in 2021 they each received the Silver Award for sales between $6.5 and $12 million. In addition, the duo has been quarterly sales leaders several times, as well as Yearly Sales Leaders. Most recently, in 2021, they each achieved their personal best in sales, earning them Green Team Realty Gold Awards.

We asked Charlie the following questions:

Before entering the real estate profession, what did you do?

I was a home builder, for 18 years. Before that, I was an owner of a small ocean freight shipping company. And before that, I formulated and sold tax shelter investments.

How and why did you become a real estate agent?

When I bought my home in Crystal Springs to retire, the realtor was an office manager for the company I purchased through. He recruited me. I already had my license from being a builder so decided it might be fun and keep me busy. I enjoy working with people.

What do you like best about being a real estate agent?

The diversity. For instance, the number of moving parts in this business is so varied there’s never time to get bored. Each day is a new adventure. I thought for my background it was the perfect fit. It also gives you the freedom to run your own business. Besides, I love meeting and working with people to help them with their housing needs. It’s very gratifying to see their excitement when they finally close on their née home.

What do you like least about being a real estate agent?

The disappointment you see in your client when you lose a house to a higher bid or due to some problem your client encounters.

What was your most memorable/unusual real estate transaction?

My first sale. I was competing with a broker/manager for the listing because he thought the seller was his client. I held my position that it was my listing which was backed up by the seller. Therefore, I wound up with the deal and successfully closed and earned my first commission. From there I never looked back. A less experienced realtor would have given in with pressure being applied. I held my ground. No one should ever allow themselves to be bullied.

What is it like being part of the Green Team?

I love it. We treat each other as teammates. You never have to concern yourself with others in the company trying to steal your clients. Everyone helps each other. The camaraderie is great. There’s a goodly amount of social events where we can let our hair down and have fun away from the work. There is as much training as anyone can need and lead opportunities for all. It’s just totally different than what I see from other companies I engage with.

How would family and friends describe you?

Happy, driven, successful, personable, honest, and fun to be with. A good husband, father, Grampa and friend.

What is your proudest accomplishment?

My family.

What does “home” mean to you?

Home is my personal retreat to a loving environment.

What advice would you give to someone thinking about selling their home?

I would tell them to be sure of the company they select to list with. Of course, I would give them all the reasons they should select us above the competition. Furthermore, I would give them references and testimonials, and examples of how we would market it. Essentially, I would walk them through the home selling process, because knowledge is power. An educated client is the easiest to work with.

What advice would you give to someone thinking about buying a home?

All of the above plus an overview of the market itself so they know what to expect and not get upset if they lose out on an offer. I would tell them patience is definitely a requirement when searching for the right home.

What advice would you give to your younger self?

Get into the real estate business.

There Are Several Great Reasons To Consider Buying a Condo Today

by Nicole McCormick

If you’re a first-time buyer looking to break into the housing market but struggling to find a home to buy, condominiums (or condos) could be a great alternative for you.

Here are a few reasons condos may be something you’ll want to consider.

Exploring Condos Could Add Options That Fit Your Budget

Supply challenges are a reality across the board in today’s housing market. Broadening your home search to include condos could increase your overall pool of options. Just keep in mind, condos generally differ from single-family homes in average space and floorplans.

In a recent article, Bankrate covers some of these differences:

“Condos are generally more affordable because they come with less space — you likely won’t have your own backyard, for example, and the interior tends to be smaller than the square footage of a single-family home.”

But if the size of a condominium meets your needs, they could match your budget as well. Data from the National Association of Realtors (NAR) shows the difference in the median price for both housing types. For single-family homes, the median price is $363,800. And for condominiums, the median price is lower at $305,400.

So, if budget is top of mind for you, a condominium could be a great fit within your target price range.

Not to mention, buying a condo is a great way to break into the market and start building equity that can help power a future move up. The condo you purchase today may not be your forever home, but it can be a great stairstep that can help you buy your dream home later on.

Find Out if Condo Living Is Right for You

In addition, owning and living in a condo is also a lifestyle choice. While it’s true they may be smaller than single-family homes, the amenities condos provide could be a draw for many buyers. Less space in your home might mean minimal upkeep, lower maintenance, and more time for you to spend doing the things you enjoy.

To understand if condo life is for you, Bankrate recommends asking yourself a few simple questions:

“Hate to mow the lawn and trim the hedges? What about pressure washing your driveway? Are your finances such that having to lay out $5,000 or more for a new roof will be a burden? . . . Condos tend to work best for those comfortable with most of the aspects of apartment living, minus the built-in maintenance.”

Ultimately, talking with an expert real estate advisor is the best first step to determining if condo living might work for you.

Bottom Line

Condominiums are a great option for many buyers, especially those looking to buy their first home. If you’re willing to consider condos in your search, you could find something that’s in line with your target numbers and your needs. To learn more, let’s connect so you have an expert in the condo-buying process on your side.

Buying a home • Housing Market News • Mortgage and Home Loans • Selling a Home • March 31, 2022

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

by Nicole McCormick

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year:

Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed those projections.

Sam Khater, Chief Economist at Freddie Mac, explained in a press release last week:

“This week, the 30-year fixed-rate mortgage increased by more than a quarter of a percent as mortgage rates across all loan types continued to move up. Rising inflation, escalating geopolitical uncertainty and the Federal Reserve’s actions are driving rates higher and weakening consumers’ purchasing power.”

Where Are Mortgage Rates Going from Here?

In a recent article by Bankrate, several industry experts weighed in on where rates might be headed going forward. Here are some of their forecasts:

Greg McBride, Chief Financial Analyst, Bankrate:

“With inflation figures continuing to surprise to the upside, mortgage rates will remain above 4.0% on the 30-year fixed.”

Nadia Evangelou, Senior Economist and Director of Forecasting, National Association of Realtors (NAR):

“While higher short-term interest rates will push up mortgage rates, I expect some of this impact to be mitigated eventually through lower inflation. Thus, I expect the 30-year fixed mortgage rate to continue to rise, although we aren’t likely to see the big jumps that occurred over the past few weeks.”

Len Kiefer, Deputy Chief Economist, Freddie Mac:

“Mortgage rates are likely to continue to move higher throughout the balance of 2022, although the pace of rate increases is likely to moderate.”

In a recent realtor.com article, another expert adds to the conversation:

Danielle Hale, Chief Economist, realtor.com:

“. . . As markets digest the Fed’s updated economic projections, I anticipate a continued increase in mortgage rates over the next several months. . . .”

What Does This Mean for You if You’re Looking To Buy a Home?

With both mortgage rates and home values expected to increase throughout the year, it would be better to buy sooner rather than later if you’re able. That’s because it’ll cost you more the longer you wait. But, there is a possible silver lining to buying a home right now. While you’ll be paying a higher price and a higher mortgage rate than you would have last year, rising prices do have a long-term benefit once you buy.

If you purchase a home today valued at $400,000 and put 10% down, you would be taking out a $360,000 mortgage. According to mortgagecalculator.net, at a 4.42% fixed mortgage rate, your mortgage payment would be $1,807 a month (this does not include insurance, taxes, and other fees because those vary by location).

Now, let’s put that mortgage payment into a new perspective based on the substantial growth in equity that comes with the escalation in home prices. Every quarter, Pulsenomics surveys a panel of over 100 economists, investment strategists, and housing market analysts about their expectations for future home prices in the United States. Last week, Pulsenomics released their latest Home Price Expectation Survey. The survey reveals that the average of the experts’ forecasts calls for a 9% increase in home values in 2022.

Based on those projections, a $400,000 house you buy today could be valued at $436,000 by this time next year. If you break that down, that means the equity in your home would increase by $3,000 a month over that period. That’s greater than the estimated monthly payment above. Granted, the increase in your net worth is tied to the home, but it is one way to put the home price appreciation to use in a way that benefits you.

Bottom Line

Paying a higher price for a home and a higher mortgage rate can be a difficult pill to swallow. However, waiting will just cost you more. If you’re ready, willing, and able to buy a home, now will be a better time than a year, or even six months from now. Let’s connect to begin the process today.

Housing Market News • Selling a Home • March 31, 2022

The Best Week To List Your House Is Just Around the Corner

by Nicole McCormick

Are you thinking about selling your house? If so, you may want to make it a priority to start the process soon. According to realtor.com, the sweet spot for sellers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years (excluding 2020, since it was an atypical year). When applied to the current market, experts determined the ideal week to list a house this year. The research says:

“Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2022 is approaching quickly. The week of April 10-16 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”

If you’ve been putting your move on the back burner waiting for the ideal time to sell, you should know your golden window of opportunity is coming up. If you’re able to get your house ready quickly, here’s what you can expect from that week.

You Should See More Buyer Activity

The article expects higher buyer demand based on what’s happened in previous years. This could result in increased competition among buyers and ultimately a bidding war over your house. And since mortgage rates recently ticked up over 4%, chances are good that analysis is right. When rates rise, experts say buyers often hurry to make their purchase before rates climb higher. As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), says:

“. . . Buyers are rushing to lock in lower rates as the outlook is for even higher mortgage rates in the following months.”

Your House Is Expected To Sell Quickly

Additionally, the realtor.com analysis shows houses sell even faster during this week of the year, likely due to the heightened buyer demand. If you work with a trusted real estate professional to price your house right, it should sell quickly. And when homes are already selling in just 18 days according to NAR, that could set you up for a big win.

Your House Will Be in the Spotlight

Since the beginning of the year, the number of homes available for sale has been at or near record lows. According to the realtor.com study, the typical trend for this week of the year is that there will be even fewer sellers on the market. If you list when inventory is low, your house will be the center of attention for eager buyers craving options.

If you’re ready to move fast, you may want to shoot for April 10^th-16^th as your target goal. Just remember, even if you’re not ready to list within the next couple of weeks, rest assured this is still a hot sellers’ market. If you list later in April, you’ll still be in the driver’s seat.

Bottom Line

Ready to get the ball rolling? Let’s connect and schedule a time to go over your next steps. In the meantime, make a checklist of things you need to tackle to get your house ready. When we talk, we can prioritize your to-do list and get you on the road to selling your house.

Buying a home • Housing Market News • Mortgage and Home Loans • March 30, 2022

A Key To Building Wealth Is Homeownership

by Nicole McCormick

The link between financial security and homeownership is especially important today as inflation rises. But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says:

“Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.”

Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal.

Owning a Home Is a Building Block for Financial Success

A recent NAR report details several homeownership trends and statistics, including the difference in net worth between homeowners and renters. It finds:

“. . . the net worth of a homeowner was about $300,000 while that of a renter’s was $8,000 in 2021.”

To put that into perspective, the average homeowner’s net worth is roughly 40 times that of a renter (see visual below):

The results from this report show that owning a home is a key piece to the puzzle when building your overall net worth.

Equity Gains Can Substantially Boost a Homeowner’s Net Worth

The net worth gap between owners and renters exists in large part because homeowners build equity. As a homeowner, your equity grows as your home appreciates in value and you make your mortgage payments each month.

In other words, when you own your home, you have the benefit of your mortgage payment acting as a contribution to a forced savings account. And when you sell, any equity you’ve built up comes back to you. As a renter, you’ll never see a return on the money you pay out in rent every month.

To sum it up, NAR says it simply:

“Homeownership has always been an important way to build wealth.”

Bottom Line

The gap between a homeowner’s net worth and a renter’s shows how truly foundational homeownership is to wealth-building. If you’re ready to start on your journey to homeownership, let’s connect today.

Buying a home • Housing Market News • Selling a Home • March 30, 2022

What You Can Expect from the Spring Housing Market

by Nicole McCormick

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune.

Here’s a look at what experts say you can expect this spring.

1. Mortgage Rates Will Climb

Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up over the next 90 days. As Freddie Mac says:

“The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of the year.”

If you’re a first-time buyer or a seller thinking of moving to a home that better fits your needs, realize that waiting will likely mean you’ll pay a higher mortgage rate on your purchase. And that higher rate drives up your monthly payment and can really add up over the life of your loan.

2. Housing Inventory Will Increase

There may be some relief coming for buyers searching for a home to purchase. Realtor.com recently reported that the number of newly listed homes has grown for each of the last two months. Also, the National Association of Realtors (NAR) just announced the months’ supply of inventory increased for the first time in eight months. The inventory of existing homes usually grows every spring, and it seems, based on recent activity, the next 90 days could bring more listings to the market.

If you’re a buyer who has been frustrated with the limited supply of homes available for sale, it looks like you could find some relief this spring. However, be prepared to act quickly if you find the right home.

If you’re a seller, listing now instead of waiting for this additional competition to hit the market makes sense. Your leverage in any negotiation during the sale will be impacted as additional homes come to market.

3. Home Prices Will Rise

Prices are always determined by supply and demand. Though the number of homes entering the market is increasing, buyer demand remains very strong. As realtor.com explains in their most recent Housing Report:

“During the final two weeks of the month, more new sellers entered the market than during the same time last year. . . . However, with 5.8 million new homes missing from the market and millions of millennials at first-time buying ages, housing supply faces a long road to catching up with demand.”

What does that mean for you? With the demand for housing still outpacing supply, home prices will continue to appreciate. Many experts believe the level of appreciation will decelerate from the high double-digit levels we’ve seen over the last two years. That means prices will continue to climb, just at a more moderate pace. Most experts are predicting home prices will not depreciate.

Won’t Increasing Mortgage Rates Cause Home Prices To Fall?

While some people may believe a 1% increase in mortgage rates will impact demand so dramatically that home prices will have to fall, experts say otherwise. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, says:

“What I will caution against is making the inference that interest rates have a direct impact on house prices. That is not true.”

Freddie Mac studied the impact that mortgage rates increasing by at least 1% has had on home prices in the past. Here are the results of that study:

As the chart shows, mortgage rates jumped by at least 1% six times in the last thirty years. In each case, home values increased.

So again, if you’re a first-time buyer or a repeat buyer, waiting to buy likely means you’ll pay more for a home later in the year (as compared to its current value).

Bottom Line

There are three things that seem certain going into the spring housing market:

Mortgage rates will continue to rise
The selection of homes available for sale will modestly improve
Home prices will continue to appreciate, just at a slightly slower pace

If you’re thinking of buying, act now before mortgage rates and home prices increase further. If you’re thinking of selling, your best bet may be to sell soon so you can beat the increase in competition that’s about to come to market.

Buying a home • Housing Market News • Mortgage and Home Loans • March 30, 2022

What You Need To Know if You’re Thinking About Building a Home

by Nicole McCormick

If you’re ready to move up, you may be trying to decide whether you want to buy a home that’s already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control.

Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the industry, you can make an informed decision on whether to look for a newly built or an existing home in your home search.

Supply Chain Issues

The first hurdle builders are dealing with is the lack of supply of various building materials. According to a recent article from HousingWire:

“. . . Nearly everything needed in the homebuilding process is facing some sort of delay and subsequent price increase.”

The supply issue isn’t just with lumber, even though that’s what’s covered most in the news. The article explains many other supplies are impacted too, including roofing materials, windows, garage doors, siding, and gypsum (which is used in drywall).

The difficulty in getting these items is dragging out timelines for new homes as builders wait on what they need to finish construction. And since materials are in short supply, even when they do get the product, the principle of supply and demand is driving prices up for those goods. HousingWire explains it like this:

“When supplies are low, charges inevitably go up, . . . Meanwhile, a lack of availability is causing huge delays, meaning builders are struggling to stay on schedule.”

The National Association of Home Builders (NAHB) agrees:

“Builders are grappling with supply-chain issues that are extending construction times and increasing costs.”

Skilled Labor Shortage

But that’s not the only challenge with new home construction today. Builders are also having a hard time finding skilled labor, which means they’re short-handed, further dragging out their timelines. Odeta Kushi, Deputy Chief Economist at First American, says this is an ongoing challenge for the industry:

“The skilled labor shortage in the construction industry is not new – it’s been an issue for more than a decade now.”

But there is good news. The February jobs report shows employment gains in the construction industry. Kushi puts this encouraging news into perspective in the article mentioned above:

“Overall this was a good report, . . . The supply of workers continues to fall short of demand, but the underlying momentum of the labor market recovery is strong, and falling COVID case counts provide further forward momentum.”

That means, while finding workers continues to be a challenge for builders, there are signs of positive momentum moving forward.

How This Impacts You

HousingWire explains how these things can impact move-up buyers today:

“The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Explosive supply and labor costs are forcing long delays. . . .”

So, when you weigh your options and try to decide between building a home or buying an existing one, factor the potential delay in new home construction into your decision. While it doesn’t mean you should cross newly built homes off your list, it does mean you should consider your timeline and if you’re willing to wait while your home is being constructed.

Bottom Line

When planning your next move, understanding the latest market conditions is key to making the best decision possible. To make sure you have all the information you need, let’s connect. Together we can make sure you know what’s happening in our local market so you can confidently decide what’s right for you, your priorities, and your timeline.

Buying a home • Housing Market News • March 30, 2022

The Many Benefits of Homeownership

by Nicole McCormick

The past two years have taught us the true value of homeownership, especially the stability and the feeling of accomplishment it can provide. But homeownership has so much more to offer. Here’s a look at a few of the non-financial and financial benefits of owning a home. If you’re looking to buy a home today, think about all the ways homeownership can impact your life.

Homeownership Has Impactful Personal and Emotional Benefits

Owning your home gives you a significant sense of pride because it’s a space that is truly yours. And as a homeowner, you can customize your home to your heart’s desire. Having a space you’ve put your stamp on enhances the pride and sense of ownership you may feel.

And that sense of ownership can extend beyond your shelter to help create social, community, and civic benefits as well. That’s because the average homeowner stays in their home for longer than just a few years. That means you’ll naturally feel a stronger connection to the community around you the longer you live there. This can help you experience a greater sense of belonging and a greater stake in your community as a whole. As the National Association of Realtors (NAR) says:

“Living in one place for a longer amount of time creates an obvious sense of community pride, which may lead to more investment in said community.”

Owning a Home Is a Significant Step Toward Financial Stability

In a financial sense, homeowners benefit from home price appreciation, equity gains, and having a shield against some of the effects of inflation. These benefits can have a big impact on your life. As you gain equity through home price appreciation and paying down your mortgage, you build your net worth. And in times of inflation, your 30-year fixed-rate mortgage can help you stabilize one of your largest monthly expenses for the duration of your loan.

Lawrence Yun, Chief Economist for NAR, explains how you can start to see these lasting effects of homeownership as soon as you make your purchase:

“Owning a home continues to be a proven method for building long-term wealth. . . . Home values generally grow over time, so homeowners begin the wealth-building process as soon as they make a down payment and move to pay down their mortgage.”

Knowing you’ve made a good investment soon after your purchase is powerful. And that may give you confidence in your decision to buy a home.

Bottom Line

The benefits of owning a home are foundational. As a homeowner, you can feel proud of the space you call home and know you’ve made a sound financial investment. To learn how homeownership can help you, let’s connect to start the conversation today.

Buying a home • Housing Market News • March 30, 2022

The Perks of Owning More Than One Home

by Nicole McCormick

Many things have changed over the past couple of years, and real estate is no exception. One impact is an increased desire to own more than one home. According to the recent Luxury Market Report from Luxury Home Marketing:

“As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of relocating as well as the growth of second homeownership.”

This may be because the pandemic has altered how we think about our homes. Where we live has become, more than ever, our safe space and our getaway. And with the rise in remote work, more people are reconsidering where they want to live and buying second homes to give them greater flexibility. If you fall in that category, here are just a few of the perks you’ll enjoy, and how owning a second home may be a great decision for your lifestyle and your future.

Enjoy a Change in Scenery (or Weather)

When you have two homes, you can alternate between them as the weather changes or as you crave different scenery. Do you want to live in an area with a particular season? Would alternating between a resort and a suburban setting be ideal? With two homes, you have those options. Being able to move between homes based on which location best suits you at the time gives you added flexibility and variety that can help increase your happiness.

Build Your Wealth Faster

You may have heard that home equity is skyrocketing, thanks to ongoing home price appreciation. CoreLogic reports that the average homeowner gained $56,700 in equity over the last year. With home prices projected to continue rising, if you purchase a second home, you could benefit from rising equity on both properties to build your wealth (and your net worth) even faster.

Be Closer to Loved Ones

The pandemic has also reignited the importance of being near our loved ones. One option worth exploring is whether you want your second home to be near the people who matter most in your life. This makes it easier to see your loved ones but still gives you your own dedicated, private space so you can be nearby for major life events or longer visits.

Lock in Your Expenses

Buying a second home today and locking in your mortgage rate may be a good option if you’re looking to stabilize your housing costs for the long haul. If you’re approaching retirement or are looking to use your second home as your permanent residence in the future, buying that house now with today’s rate and price may be a good financial decision. That way, no matter what happens with rates and prices in years ahead, your monthly payment is locked in for the next 15-30 years.

Bottom Line

Having multiple homes has considerable benefits. If owning a second home is something you’re interested in, let’s connect to explore your options, discuss the benefits, and take the next step to start your home search.

Buying a home • Housing Market News • Mortgage and Home Loans • March 30, 2022

The Difference Between Renting and Owning

by Nicole McCormick

Some Highlights

If you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home.
As a renter, you build your landlord’s wealth and face rising costs. As a homeowner, you build your own net worth and can lock in your monthly payments for the length of your loan.
If you’re weighing your options, remember that owning a home is a decision that has considerable financial perks. If you want to learn more, let’s connect to talk about the perks of homeownership.

Charlie is one-half of Green Team New Jersey Realty’s Dynamic Duo!

We asked Charlie the following questions:

Before entering the real estate profession, what did you do?

How and why did you become a real estate agent?

What do you like best about being a real estate agent?

What do you like least about being a real estate agent?

What was your most memorable/unusual real estate transaction?

What is it like being part of the Green Team?

How would family and friends describe you?

What is your proudest accomplishment?

What does “home” mean to you?

What advice would you give to someone thinking about selling their home?

What advice would you give to someone thinking about buying a home?

What advice would you give to your younger self?

Exploring Condos Could Add Options That Fit Your Budget

Find Out if Condo Living Is Right for You

Bottom Line

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Where Are Mortgage Rates Going from Here?

Greg McBride, Chief Financial Analyst, Bankrate:

Nadia Evangelou, Senior Economist and Director of Forecasting, National Association of Realtors (NAR):

Len Kiefer, Deputy Chief Economist, Freddie Mac:

Danielle Hale, Chief Economist, realtor.com:

What Does This Mean for You if You’re Looking To Buy a Home?

Bottom Line

You Should See More Buyer Activity

Your House Is Expected To Sell Quickly

Your House Will Be in the Spotlight

Bottom Line

Owning a Home Is a Building Block for Financial Success

Equity Gains Can Substantially Boost a Homeowner’s Net Worth

Bottom Line

1. Mortgage Rates Will Climb

2. Housing Inventory Will Increase

3. Home Prices Will Rise

Won’t Increasing Mortgage Rates Cause Home Prices To Fall?

Bottom Line

Supply Chain Issues

Skilled Labor Shortage

How This Impacts You

Bottom Line

Homeownership Has Impactful Personal and Emotional Benefits

<img decoding="async" class="attachment-entry size-entry wp-post-image" src="https://files.mykcm.com/2022/03/21110149/20220322-KCM-Share.jpg" alt="The Many Benefits of Homeownership | MyKCM" width="750" height="410" data-eio="l" />

Owning a Home Is a Significant Step Toward Financial Stability

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Enjoy a Change in Scenery (or Weather)

Build Your Wealth Faster

Be Closer to Loved Ones

Lock in Your Expenses

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Some Highlights

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Ringwood, NJ

Goshen, NY Real Estate

Pine Island, NY Real Estate