Selling a Home • February 22, 2022

More People Are Planning To Buy a Home Soon

by Nicole McCormick

While some homeowners may be tempted to hold off until spring to list their houses, you should know – homebuyers aren’t waiting. Demand is high today as more people are trying to beat rising mortgage rates. As a result, eager buyers are entering the market or moving their plans up so they can make their purchases as soon as possible.

The most recent Consumer Confidence Survey finds that, of those surveyed, the percentage of people planning to buy over the next six months has increased substantially since last fall (see graph below):

As the graph shows, the number of consumers fast-tracking their plans to purchase a home has crept up over the past three months. That indicates many buyers are evaluating their strategy and realizing they should act sooner rather than later. And for homeowners planning to sell, it’s a signal that now may be the time to list.

While more people are moving their plans up, others are actively putting theirs in motion. Time on the market is a great indication that homebuyers are motivated and moving quickly. According to a recent realtor.com report, the average home sold faster this January than any January on record.

Danielle Hale, Chief Economist at realtor.com, notes:

“Homes sold at a record-fast January pace, suggesting that buyers are more active than usual for this time of year.”

What Does That Mean for You?

Homebuyers are rethinking their strategies and moving their plans forward. Others are making their moves today. That means demand for your house isn’t just increasing – it’s high right now.

And because there are so few homes available for determined purchasers to choose from, if you’re planning to sell your house this year, doing so sooner means you can take advantage of high buyer demand before more houses are listed in your neighborhood. Why is this important? Because as more houses are put up for sale, buyers will have more options. But until then, your house will be in the spotlight.

Bottom Line

With so many buyers eager to make a purchase, you could benefit by listing your house soon. To understand how strong buyer demand is in our area, let’s connect so you can start making your plans. Contact Green Team Realty today!

Buying a home • February 22, 2022

Real Estate Voted the Best Investment Eight Years in a Row

by Nicole McCormick

In an annual Gallup poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best long-term investment (see graph below):

If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines.

Why Is Real Estate a Great Investment During Times of High Inflation?

With inflation reaching its highest level in 40 years, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices are increasing across the board. That includes goods, services, housing costs, and more. But when you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increasing housing payments. James Royal, Senior Wealth Management Reporter at Bankrate, explains it like this:

“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”

If you’re a renter, you don’t have that same benefit, and you aren’t protected from increases in your housing costs, especially rising rents.

History Shows During Inflationary Periods, Home Prices Rise as Well

As a homeowner, your house is an asset that typically increases in value over time, even during inflation. That‘s because, as prices rise, the value of your home does, too. And that makes buying a home a great hedge during periods of high inflation. Natalie Campisi, Advisor Staff for Forbes, notes:

“Tangible assets like real estate get more valuable over time, which makes buying a home a good way to spend your money during inflationary times.”

Bottom Line

Housing truly is a strong investment, especially when inflation is high. When you lock in a mortgage payment, you’re shielded from housing cost increases, and you own an asset that typically gains value with time. If you want to better understand how buying a home could be a great investment for you, let’s connect. Contact Green Team Realty today to schedule a consultation for your next real estate investment!

Housing Market News • February 21, 2022

February 2022 Housing Market Update

by Nicole McCormick

Geoff Green, President of Green Team Realty and Co-Founder and CEO of NuOp welcomed viewers to the February 2022 Housing Market Update. If you haven’t yet seen the webinar or would like to see it again, it’s available below.

Inflation – and its impact on homeownership

It seems that the “I”s (inventory, interest rates and inflation) have it when it comes to some of the major factors affecting the housing market. First, we have been talking about inventory, at historic lows. Then, there were interest rates; again, at historic lows although we have begun to see them rise. And now, inflation is taking top billing:

According to Mark P. Cussen, Financial Writer for Investopedia,

“Real estate is one of the time-honored inflation hedges. It’s a tangible asset, and those tend to hold their value when inflation reigns, unlike paper assets. More specifically, as prices rise, so do property values.”

A look at the US inflation rate since 1920 shows that we have been through worse. And, while current inflation is not as high as it was in the late 1970s, early 1980s, it is a serious problem.

Owning versus renting

According to James Royal, Senior Wealth Management Report, Bankrate,

“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same. That’s certainly not the case if you’re renting.”

In addition, rent increases have been greater than inflation most years.

Mortgage Rates

Before the pandemic, the 30-year fixed rate was 3.70%. It reached historic lows during the pandemic, dipping just below 2.7%. The rate is now 3.55% but are no higher than we were pre-pandemic. Historically, current mortgage rates are the lowest they’ve been in five decades. In fact, in the 1980s, they rose as high as 12.70%.

According to Sam Khater, Chief Economist, Freddie Mac,

“As mortgage rates rise, we do expect some moderation n housing demand, causing house prices growth to temper. However, the combination of large number of entry-level homebuyers facing a shortage of entry-level inventory of homes for sale should keep the housing market competitive.”

National Stats

The average home sales price has gone up, very much due to inventory going down. Accordingly, it is very much a case of supply and demand.

Meet the Panel

Joining Geoff Green is Keren Gonen of Green Team New Jersey Realty, Carol Buchanan of Green Team New York Realty, and Chad Barris, Family First Funding.

The panel discussed the information presented by Geoff as it relates to their experiences in the field. To watch the webinar and see the panel discussion, click here.

“Housekeeping Items”

Agency News and Awards • February 21, 2022

Welcome Michelle Spina to Green Team New York Realty!

by Nicole McCormick

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The Green Team is proud to announce that Michelle Spina has decided to join our Warwick, NY office. We’re excited to have her on our team and look forward to helping her grow!

Please join us in Welcoming Michelle to Green Team New York Realty!

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Selling a Home • February 21, 2022

What Every Seller Needs to Know About Renovating This Year

by Nicole McCormick

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If you’re planning to sell this year, you’re probably thinking about what you’ll need to do to get your house ready to appeal to the most buyers. It’s crucial to work with a trusted real estate professional who knows your local market to get your home ready to sell. But there are a few things you should consider when deciding what to renovate and update before listing this season. Here are three things to keep top of mind as you’re making your list of projects to tackle this year.

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1. The Number of Homes for Sale Is Very Low

Housing inventory sits far below what is normally considered a balanced market. In fact, according to the National Association of Realtors (NAR), the latest data indicates inventory is hitting an all-time low. Because there’s such a limited supply of homes available for sale, you’re in a unique position when you sell your house to benefit from multiple offers and a quick process.

But you want to do so while buyers are still scooping homes up as fast as they’re being listed. Spending time and money on renovations before you sell could mean you’ll miss your key window of opportunity. Of course, certain repairs may be important or even necessary. The best way to determine where to spend your time – and your money – is to work with a real estate advisor to confirm which improvements are truly needed and which ones aren’t likely to be deal-breakers for buyers.

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2. Buyers May Be Willing To Take on Projects When They Purchase Your House

Today, many buyers are more willing to take on home improvement projects themselves to get the house they’re after, even if it means putting in a little extra work. A recent survey from Freddie Mac finds that:

“. . . nearly two-in-five potential homebuyers would consider purchasing a home requiring renovations.”

If more buyers are willing to tackle repairs on their own, it may be wise to let the future homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle. Depending on the structural condition of your house, your efforts may be better spent working on small cosmetic updates, like refreshing some paint and power washing the exterior to make sure the home stands out. Instead of over-investing in upgrades, the buyer may change anyway, work with a real estate professional to determine the key projects to tackle that will give you the greatest return on your investment.

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3. Your Agent Will Help You Spotlight the Upgrades You’ve Made

Over the past year, many people made a significant number of updates to their homes. The most recent State of Home Spending report finds:

“Home improvement spending rose 25% year-over-year to $10,341. Homeowners who invested in home improvement did an average of 3.7 projects, up from 2.7 in 2020, . . .”

The same is true for any projects you invest in moving forward. No matter what, before you renovate, contact a local real estate professional for expert advice on what work needs to be done and how to make it as appealing as possible to future buyers. Every home is different, so a conversation with your agent is mission-critical to make sure you make the right moves when selling this season.

Bottom Line

In a sellers’ market like today’s, it’s important to spend your time and money wisely when you’re getting ready to move. Let’s connect today so you can find out where to target your efforts before you list. Click here to Contact Green Team Realty to speak with a Real Estate Expert!

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Agency News and Awards • February 21, 2022

GTNYR – Achieving Personal Best

by Nicole McCormick

GtNYR Sales Associates who did personal best in sales for 2021

COVID-19 created both challenges and opportunities

For those in the real estate industry, COVID-19 has presented many unique challenges. However, it has also presented many opportunities. And, for many sales associates of GTNYR, it meant achieving their personal best. Despite the shutdowns and ever-changing regulations, the pandemic created a housing market with a life of its own. Ultimately, many city dwellers found themselves wanting homes with outdoor space, room for remote working and learning, and private spaces. And, Orange County attracted many of these buyers. Fueled by historically low interest and inventory rates, sellers have been experiencing multiple offers and bidding wars. And, the expertise and dedication enabled Green Team New York Realty Sales Associates to meet the challenges head-on.

GTNYR achieving personal best in 2021

While the housing market soared, so did many of our real estate associates! Therefore, Green Team New York Realty would like to congratulate our sales associates who had their best-selling year in 2021!

Agency News and Awards • February 18, 2022

Agent Spotlight on Kristi Anderson

by Nicole McCormick

The Green Team Agent Spotlight is on Kristi Anderson.

About Kristi…

Kristi joined Green Team New Jersey Realty in 2019, bringing with her over 18 years of experience. That year, she became a Captains Club award winner with $3-$5 Million in sales. In 2020, with $10.8 Million in sales, she was in the top 1.7% of all agents in Sussex County. In addition, she was named to the Green Team MVP Circle. Furthermore, Kristi received the New Jersey Realtors® Silver Circle of Excellence Sales Award that year.

Kristi Anderson of GTNJR Silver Circle of Excellence Award

And, with over $12 million in sales for 2021, Kristi has achieved Green Team’s new Platinum production level.

Kristi is now licensed in New York as well and has joined Green Team New York Realty.

The Broker-Realtor® is an Accredited Buyer’s Representative. In addition, Kristi has Short Sales and Foreclosure Resource Certification. This busy mom of four still finds time to volunteer with the Vernon Township School District’s SCA. She is also a dedicated, hardworking volunteer board member of the Vernon Chamber of Commerce. What’s more, Kristi has also started volunteering for the Highland Lakes Community Ecology Committee.

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

I was in banking for several years then I worked as an Account Service Representative for a pharmaceutical Data Company. It was interesting but sitting at a desk all day was just not my cup of tea. I love the diversity being a Realtor offers

How and why did you become a real estate agent?

I bought a house and thought the whole experience was really cool even though there were some bumps in the road and it took us 5 months to close. However, I went and got my license, and here I am 20 years later still loving it.

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

The excitement of making people’s real estate dreams come true. I love the feeling I get every time! There is nothing else like handing them the keys and seeing that big smile on their face. Priceless!

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

Telling a client disappointing news. Unfortunately, it happens in this business and you have to assist your clients through the triumphs and turmoil.

What was your most memorable/unusual real estate transaction?

My client was buying a property and there was a discrepancy in the land of about 2 acres. The attorney notified everyone at closing and they decided to sue each other and we went to court. The judge said this is a joke and told the sellers you will sell the property to these buyers at this price and that is it. A month later we closed. They happily still live there.

What is it like being part of the Green Team?

There is always someone there to help and their client appreciation program does not compare. I love seeing the smile on my client’s faces when I hand them their Thanksgiving pie

Kristi Anderson with GTNJR For Sale Sign

How would family and friends describe you?

Hardworking, tenacious, easy to talk to, problem solver, dedicated, sincere, transparent, and most importantly honest!

What is your proudest accomplishment?

When I was in banking they had a program for employees that if you went above and beyond for a customer it would be made into a commercial. I had a client come in after hours and he needed to cash his check and was flying out early in am. I basically took his check and cashed it out of my account through the ATM. He informed my manager and we made a commercial and it was on national TV. They even played during the World Series.

What does “home” mean to you?

Home means family to me. A place where you feel safe, where you belong. Where you feel stable and secure. Homes is the base of where memories begin.

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

There is no better time to sell. Covid has really made people appreciate the value of owning a home which has helped the values rise.

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

Real estate is the best investment you can make. Not just financially, emotionally also. It is yours and you should be proud of that accomplishment. Rates are still low, so I would get in before they go up.

What advice would you give to your younger self?

Work smarter not harder. Get your license sooner. lol

Buying a home • February 14, 2022

Are You Ready To Fall in Love with Homeownership?

by Nicole McCormick

Financial benefits are always a key aspect of homeownership, but it’s also important to understand that the nonfinancial and personal benefits are why so many people genuinely fall in love with their homes. When you own your home, you likely feel a sense of emotional attachment because of the comfort it provides, but also because it’s a space that’s truly yours.

Over the past two years, we’ve learned to love our homes even more as we’ve stayed home more than ever due to the ongoing pandemic. As a result, the personal and emotional benefits our homes provide have become even more important to us.

As the most recent State of the American Homeowner from Unison puts it:

“Despite the upheaval and uncertainty of the past year, one thing has stayed the same: the home continues to be of the utmost importance and a place of security and comfort.”

When the health crisis began, the world around us changed almost overnight, and our homes were redefined. Our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes:

91% of homeowners say they feel secure, stable, or successful owning a home
64% of American homeowners say living through a pandemic has made their home more important to them than ever
83% of homeowners say their home has kept them safe during the COVID-19 pandemic

It’s no surprise this study also reveals that homeowners now love their homes even more as our emotional attachments to them have grown:

That sense of emotional connection genuinely reaches far beyond the financial aspect of homeownership. Because they’re our shelters – ones that we can genuinely call our own. Our homes touch our hearts and can also positively impact our mental health.

As JD Esajian, President of CT Homes, LLC, says:

“Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.”

Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes:

“Buying a home is not just a financial decision. It’s also a lifestyle decision.”

Bottom Line

There are so many reasons to fall head over heels for homeownership. Your home will provide a place to customize and call your own, in addition to stability and security. If you’re ready to fall in love with homeownership, let’s connect so you can get started on your homebuying journey today.

Put an experts eye on your home search! You’ll receive personalized matches of results delivered directly to you. We’ll take into account your goals, criteria, and preferences to find properties that are exactly what you were always dreaming of.
Start Here!

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Agency News and Awards • February 13, 2022

2021 Circle of Excellence Awards

by Nicole McCormick

Green Team New Jersey recipiences of 2021 Circle of Excellence

Green Team New Jersey Realty is proud to announce its 2021 Circle of Excellence Awards recipients.

According to NJ Realtors®, the NJ Realtors® Circle of Excellence® Sales Award® recognizes those members who have demonstrated excellence in the field of salesmanship”

The 2021 Circle of Excellence Awards levels are:

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 s 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.

Buying a home • February 11, 2022

How To Win as a Buyer in a Sellers’ Market

by Nicole McCormick

How To Win as a Buyer in a Sellers’ Market [INFOGRAPHIC] | MyKCM

Some Highlights

Even in today’s sellers’ market, there are still ways for buyers to win big.
Build a team of trusted professionals and make strategic plays as you budget and pick your desired neighborhoods. Then, be ready for the competition by getting a pre-approval letter and leaning on your expert advisors to draft a winning offer.
In a sellers’ market, you can still be the champion if you have the right team and strategy. Let’s connect today to make your game-winning play.

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

What Does That Mean for You?

Bottom Line

Why Is Real Estate a Great Investment During Times of High Inflation?

History Shows During Inflationary Periods, Home Prices Rise as Well

Bottom Line

Inflation – and its impact on homeownership

Owning versus renting

Mortgage Rates

National Stats

Meet the Panel

“Housekeeping Items”

1. The Number of Homes for Sale Is Very Low

2. Buyers May Be Willing To Take on Projects When They Purchase Your House

3. Your Agent Will Help You Spotlight the Upgrades You’ve Made

Bottom Line

COVID-19 created both challenges and opportunities

GTNYR achieving personal best in 2021

The Green Team Agent Spotlight is on Kristi Anderson.

<img decoding="async" class="wp-image-38141 size-medium alignleft" src="https://assets.agentfire3.com/uploads/sites/77/2021/10/Kristi-Anderson-Vacation-Pic-e1635467650736-225x300.jpeg" alt="Kristi Anderson enjoying the sun" width="225" height="300" data-eio="l" />

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?

Hardworking, tenacious, easy to talk to, problem solver, dedicated, sincere, transparent, and most importantly honest!

What does “home” mean to you?

Home means family to me. A place where you feel safe, where you belong. Where you feel stable and secure. Homes is the base of where memories begin.

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?

Bottom Line

The 2021 Circle of Excellence Awards levels are:

Green Team New Jersey’s NJ Realtors® Circle of Excellence® Sales Award® recipients are:

Some Highlights

Our Offices

Ringwood, NJ

Goshen, NY Real Estate

Pine Island, NY Real Estate