Community Support • April 18, 2020

Resources for Covid-19 – for Family, Home and You

by Nicole McCormick

We are living in times that are unlike anything any of us have seen before. In the midst of a pandemic, home is now the place we shelter in. Whether we live alone or with family, our homes are where many of us spend most of our time. Schools are closed, as are non-essential businesses. Essential workers are putting themselves at risk just by doing their jobs, and we can’t thank them enough. Those of us sheltering in place are trying to do our part to keep the virus from spreading. Maintaining social distancing, we wave across the street to neighbors, FaceTime with relatives and friends. The health and well-being of those we love is our highest priority, even as we may struggle with stress, financial and emotional challenges. Here are some resources we’ve found to help get through these times.

Dealing with stress and anxiety

The CDC has important information on coping with stress and anxiety in daily life due to Covid-19. And Realsimple.com has some great ideas on how to stress less. Even though this is called a two-week plan, there are ideas you can use any time. Of course, kids experience stress, too. So here’s info from pbs.org on how you and your kids can de-stress during coronavirus. Childmind.org provides tips for supporting teenagers and young adults during the coronavirus crisis.

Managing Financial Stress

There is no denying the stress that comes with loss of income. And with so much uncertainty as to when it will be safe to return to work, that stress is exacerbated. Goodtherapy.com shares a blog post about how to cope with income loss and financial stress during Covid 19. Verywellmind.com shares advice on managing financial anxiety surrounding coronavirus.

Essential Employees

Strive Global shares strategies for anxiety and stress relief for essential workers.

Working from home

Many of us are fortunate to be telecommuting these days. However, working from home comes with its own challenges. Wirecutter offers advice on how to work from home with kids. Real Simple gives you some tips on creating a makeshift home office. And Psychology Today provides productivity tips for working home under quarantine.

Take some time to boost your tech or other skills with free online classes. CIO provides a list of free online tech courses to take while you quarantine. Class Central has a catalog of Free Online Learning Due to Coronavirus. And it’s updated continuously.

You can’t spend all your time working. Billboard shares links to Livestream and Virtual Concerts to Watch During the Coronavirus Crisis.

Spring Clean… and then redecorate with what you have

Of course no April blog post would be complete without a mention of the annual tradition called Spring Cleaning. However, buzzfeed.com changes things up a little, giving us tips for cleaning now that we’re home and may have more time. So, here are 29 Easy Ways to Keep your Space Clean and 65 Things in Your Home to Clean while Quarantined. While doing your spring cleaning, you might also want to try some of these surprising things to clean with vodka, from bhg.com.

Sheltering-in-place may find you wanted to change up your surroundings a little. A few websites we found provide some tips on decorating and redecorating – without leaving home. Housebeautiful.com suggests that you rearrange furniture as a way to redecorate for free. In addition, housebeautiful.com has ideas on making your bedroom more relaxing during these stressful times. Bhg.com has 23 totally free ways to decorate with what you have. And realsimple.com helps you to decorate your home without leaving your house.

Don’t forget to start taking care of the exterior of your home, too. Realsimple.com has some ideas on getting your yard ready for summer now. And don’t forget your car! AAA Northeast has some good advice. If you can’t drive your car, clean it! AAA also advises that you keep your car maintained during a driving hiatus.

Teaching and Having Fun with the Kids

Housebeautiful.com has 23 creative ways to entertain your kids at home. And, if you’re in need of a little magic, wizardingworld.com introduces Harry Potter at Home! Livescience.com shares activities and online resources for homebound Kids: A coronavirus guide. New Jersey Family has Free Resources to Keep the Kids Learning and Entertained During Coronavirus Shutdown. Forbes.com shares 101+ Ideas to Keep Your Kids Busy during Coronavirus Closures.

Harpercollins.com has an extensive At Home Resource for Kids and Family during Coronavirus 2020. And take your high school kids on some of the virtual college tours listed here by AAA Northeast.

Guide to Grocery Shopping and Cooking

Grocery shopping these days seems like an episode of the Twilight Zone. We’re all wearing Face Masks, whether employees or customers. Here’s a Guide to Face Masks from the New York Times. BGH.com has advice on grocery shopping during coronavirus

Once you’ve navigated the grocery store and safely unpacked your groceries, here are some recipes to try. Southernliving.com has spring crock pot recipies. And bhg.com has some quick and easy dinners from pantry staples you can make.

And, if baking is a stress reliever for you, try these 56 Healthy Baking Recipes from popsugar.com.

Stay safe, stay healthy, stay strong.

Housing Market News • April 13, 2020

How to Find the Perfect Real Estate Agent

by Better Homes and Gardens Green Team

There’s a ton of real estate information available in the news today and on the Internet. It can be extremely confusing, especially in times of uncertainty like we’re facing right now.

If you’re thinking of buying or selling this year, you need an agent who can help you:

Make sense of this rapidly evolving housing market
Navigate everything from virtual showings to new online marketing strategies
Price your home correctly at the beginning of the selling process
Determine what to offer on your dream home without paying too much or offending the seller

Dave Ramsey, a financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has a finger on the pulse of the current market will make your buying or selling experience so much easier.

So, how do you identify who truly understands what’s happening right now? How do you know who will take the time to simply and effectively explain what today’s market conditions mean to you and your family?

Check out the agent on social media. What are they posting on Instagram, Facebook, Twitter, and more? Are they using their social media platforms to share relevant, helpful information, or are they just posting memes and recipes? The best agents are committed to educating the consumer so they can feel confident when buying or selling a home.

Bottom Line

What agents are posting online will help you determine who meets the criteria Dave Ramsey suggested you look for: someone with the heart of a teacher. Let’s connect today, so you can work with a true trusted real estate professional. To find a realtor with Green Team click here.

Housing Market News • April 13, 2020

How Technology Is Enabling the Real Estate Process

by Better Homes and Gardens Green Team

Today’s everyday reality is pretty different than it looked just a few weeks ago. We’re learning how to do a lot of things in new ways, from how we work remotely to how we engage with our friends and neighbors. Almost everything right now is shifting to a virtual format. One of the big changes we’re adapting to is the revisions to the common real estate transaction, which all vary by state and locality. Technology, however, is making it possible for many of us to continue on the quest for homeownership, an essential need for all.

Here’s a look at some of the elements of the process that are changing (at least in the near-term), due to stay-at-home orders and social distancing, and what you may need to know about each one if you’re thinking of buying or selling a home sooner rather than later.

1. Virtual Consultations – Instead of heading into an office, you can meet with real estate and lending professionals through video chat. Whether it’s your first initial needs analysis as a buyer or your listing appointment as a seller, you can still get the process started remotely and create a plan together. Your trusted advisor is still on your side.

2. Home Searches & Virtual Showings – According to theNational Association of Realtors (NAR), the Internet is one of the three most popular information sources buyers use when searching for homes. Your real estate agent can send you listing information and help you request a virtual showing when you’re ready to start looking. This means you can virtually walk through the homes on your wish list while keeping your family safe. As a seller, you can still have virtual open houses and virtual tours too, so as not to miss those buyers looking to find a home right now.

3. Document Signing – Although this is another area that varies by state, today more portions of the transaction are being done digitally. In many areas, your agent or loan officer can set up an account where you can upload all of the required documents and sign electronically right from your computer.

4. Sending Money – Whether you need to pay for an appraisal or submit closing costs, there are options available. Depending on the transaction and local regulations, you may be able to pay by credit card, and most banks will also allow you to wire funds from your account. Sometimes you can send a check by mail, and in some states, a mobile escrow agent will pick up a check from your home.

5. Closing Process – Again, depending on your area, a mobile notary may be able to bring the required documents to your home before the closing. If your state requires an attorney to be present, check with your legal counsel to see what options are available. Also, depending on the title company, some are allowing drive-thru closings, which is similar to doing a transaction at a bank window.

Although these virtual processes are starting to become more widely accepted, it does not mean that this is the way things are going to get done from now on. Under the current circumstances, however, technology is making it possible to continue much of the real estate transaction today.

Bottom Line

If you need to move today, technology can help make it happen; there are options available. Let’s touch base today to discuss your situation and our local regulations, so you don’t have to put your real estate plans on hold.

Housing Market News • April 13, 2020

Recession? Yes. Housing Crash? No.

by Better Homes and Gardens Green Team

With over 90% of Americans now under a shelter-in-place order, many experts are warning that the American economy is heading toward a recession, if it’s not in one already. What does that mean to the residential real estate market?

What is a recession?

According to the National Bureau of Economic Research:

“A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”

COVID-19 hit the pause button on the American economy in the middle of March. Goldman Sachs, JP Morgan, and Morgan Stanley are all calling for a deep dive in the economy in the second quarter of this year. Though we may not yet be in a recession by the technical definition of the word today, most believe history will show we were in one from April to June.

Does that mean we’re headed for another housing crash?

Many fear a recession will mean a repeat of the housing crash that occurred during the Great Recession of 2006-2008. The past, however, shows us that most recessions do not adversely impact home values. Doug Brien, CEO of Mynd Property Management, explains:

“With the exception of two recessions, the Great Recession from 2007-2009, & the Gulf War recession from 1990-1991, no other recessions have impacted the U.S. housing market, according to Freddie Mac Home Price Index data collected from 1975 to 2018.”

CoreLogic, in a second study of the last five recessions, found the same. Here’s a graph of their findings:

What are the experts saying this time?

This is what three economic leaders are saying about the housing connection to this recession:

Robert Dietz, Chief Economist with NAHB

“The housing sector enters this recession underbuilt rather than overbuilt…That means as the economy rebounds – which it will at some stage – housing is set to help lead the way out.”

Ali Wolf, Chief Economist with Meyers Research

“Last time housing led the recession…This time it’s poised to bring us out. This is the Great Recession for leisure, hospitality, trade and transportation in that this recession will feel as bad as the Great Recession did to housing.”

John Burns, founder of John Burns Consulting, also revealed that his firm’s research concluded that recessions caused by a pandemic usually do not significantly impact home values:

“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices).”

Bottom Line

If we’re not in a recession yet, we’re about to be in one. This time, however, housing will be the sector that leads the economic recovery.

Agency News and Awards • April 6, 2020

Meet Cara Dumond

by Nicole McCormick

For Cara Dumond, education was the starting point

Meet Cara Dumond, an accomplished MBA Graduate. She comes to Green Team New York Realty with a proven record of success. Cara is a motivated, dynamic and innovative business professional. And she is equipped with articulate communication and presentation skills. She loves being around people. Furthermore, her ability to spark a conversation is a definite assets to her real estate business.

Cara graduated from Monroe-Woodbury High School. She went on to major in Business Administration at Marist Business School at Marist College. With a minor in Fashion Merchandising, Cara achieved her Bachelor of Science Degree. She then went on to receive her Masters of Business Administration with a concentration in Marketing, with high honors.

From Masters degree to project support manager to management/retail positions

For over 10 years Cara was a project support manager for a manufacturing consulting company. They deployed tailored training, implantation and consulting services that helped customers create an organizational culture of continuous sustainable improvement.

For the last 5 years she worked in management/retail positions for Ann Taylor (Loft), Levis Strauss and Company, and Lafayette 148. While at Lafayette 148, she became a top achiever in commission sales in the first 5 months. Through email, personal outreach and social media, Cara developed hundreds of personal relationships with clientele. Her networking and sales abilities are additional assets for a real estate professional.

The transition to real estate and family time

When Cara and her husband Eric built their home in Greenville, New York 15 years ago, she was involved in every step of the process and loved it. She was selling her town home at the same time. While it was extremely stressful and overwhelming, she loved the excitement and challenges. And, she began to see the potential for a career as a real estate professional.

Cara loves working with people. And she wanted a more flexible schedule to fit her family’s lifestyle. Further, she wanted to get away from the hustle and bustle of the corporate world. As a people person who enjoys being out in the world, Cara delights in meeting new people and helping them find their dream home. Born and raised in Orange County, she loves the area and shares her local knowledge with her clients. For Cara, the entire business is exciting and fascinating. From helping a client navigate the purchase of their first home, to finding a distressed property and seeing its potential to be brought back to life or high-end luxury, she loves it all. But beyond that, she is all about putting her clients needs, wants and desires first and forefront.

Real Estate, family and community

Cara and Eric have twins, a boy and a girl, and a Yorkie named Gucci. The twins attend Minisink High School and are active in sports. They play basketball, football, wrestling, lacrosse and snowboarding. Naturally, Cara enjoys watching them play. And she volunteers when needed.

Cara enjoys home decorating and has a passion for home staging, She also enjoys yoga, reading and trying out different restaurants in the Hudson Valley. Cara also volunteers at Mini Wellness Retreats. The company is based in the local community. It offers events that help attendees feel a renewed sense of prioritization for their health and wellness. Additionally, Cara loves being able to support a cause that has such a positive impact on her community.

Cara’s unique skill set and experience combine to make her a wonderful addition to the Green Team family.

Agency News and Awards • April 5, 2020

Meet Kathryn (Kate) Vega

by Nicole McCormick

Green Team New York Realty would like you to meet Kathryn (Kate) Vega. Before entering the world of real estate, Kate Vega earned an Associates Degree in Business. She was a corporate Administrative/Executive Administrative Assistant for 12 years, working with many professionals of all levels, Kate was (and is) detail oriented with a focus on financials, analytics and accounting.

Kate Vega finds her passion for real estate

Her interest in real estate began when she helped her husband, John, sell his condo (off the market). She then assisted in the purchasing of their first home. After that she was hands on in selling that first home And purchasing their current home in Warwick. Kate’s ability to identify and highlight pros and cons of various homes had her becoming a resource for several friends working through their first home purchases.

Interest may actually be too mild a word to describe Kate’s feelings about real estate. In her own words, “I felt that buying, selling and remodeling my homes were the most emotional and exciting times of my life (besides marriage and having babies).” She even admits that she was distracted during her honeymoon with the construction of their first house. And then, while in the hospital having her second child, she requested photos of work being done on the house!

Kate feels that home ownership is a huge component of most people’s portfolios. In addition, it’s vital for the health of a community. She has always been interested in finances, and real estate is one of the largest and most crucial aspects of the economy. Furthermore, she’s conscious of the ups and downs that come with the biggest transactions of most people’s lives. And Kate knows she’ll be able to offer the support her clients need during the process and be sensitive to their needs.

It’s all about family

Kate and John have three children: Johnny, Tommy and Lexie. The family attends Warwick Reformed Church. The children attend Warwick schools. And they’re involved in sports: football, baseball, basketball, wrestling and soccer! John is on the football board, and Kate is the PTA Treasurer for Sanfordville Elementary School.

Housing Market News • March 24, 2020

Why the Stock Market Correction Probably Won’t Impact Home Values

by Better Homes and Gardens Green Team

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.

Bottom Line

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.

Housing Market News • March 23, 2020

Economic Slowdown: What the Experts Are Saying

by Better Homes and Gardens Green Team

More and more economists are predicting a recession is imminent as the result of the pullback in the economy caused by COVID-19. According to the National Bureau of Economic Research:

“A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”

Bill McBride, the founder of Calculated Risk, believes we are already in a recession:

“With the sudden economic stop, and with many states shutting down by closing down schools, bars and restaurants…my view is the US economy is now in a recession (started in March 2020), and GDP will decline sharply in Q2. The length of the recession will depend on the course of the pandemic.”

How deep will it go?

No one knows for sure. It depends on how long it takes to beat this virus. Goldman Sachsanticipates we will see a difficult first half of the year, but the economy will recover in the second half (see below):Goldman also projects we’ll have “further strong gains in early 2021.”

This aligns with the projection from Wells Fargo Investment Institute:

“Once the virus infection rate peaks, we expect a recovery to gain momentum into the final quarter of the year and especially into 2021.”

Again, no one knows for sure how long the pandemic will last. The hope is that it will resolve sometime over the next several months. Most agree that when it does, the economy will regain its strength quickly.

*QUARTER 1 DATA FROM GOLDMAN SACHS WAS UPDATED FROM 0% TO -0.2% ON 3/17/20 AFTER THE INITIAL RELEASE.

Bottom Line

This virus is not only impacting the physical health of Americans, but also the financial health of the nation. The sooner we beat it, the sooner our lives will return to normal.

Housing Market News • March 23, 2020

A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC]

by Better Homes and Gardens Green Team

Some Highlights

The COVID-19 pandemic is causing an economic slowdown.
The good news is, home values actually increased in 3 of the last 5 U.S. recessions and decreased by less than 2% in the 4th.
All things considered, an economic slowdown does not equal a housing crisis, and this will not be a repeat of 2008.

Housing Market News • March 23, 2020

Are We About to See a New Wave of Foreclosures?

by Better Homes and Gardens Green Team

With all of the havoc being caused by COVID-19, many are concerned we may see a new wave of foreclosures. Restaurants, airlines, hotels, and many other industries are furloughing workers or dramatically cutting their hours. Without a job, many homeowners are wondering how they’ll be able to afford their mortgage payments.

In spite of this, there are actually many reasons we won’t see a surge in the number of foreclosures like we did during the housing crash over ten years ago. Here are just a few of those reasons:

The Government Learned its Lesson the Last Time

During the previous housing crash, the government was slow to recognize the challenges homeowners were having and waited too long to grant relief. Today, action is being taken swiftly. Just this week:

The Federal Housing Administration indicated it is enacting an “immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages” for the next 60 days.
The Federal Housing Finance Agency announced it is directing Fannie Mae and Freddie Macto suspend foreclosures and evictions for “at least 60 days.”

Homeowners Learned their Lesson the Last Time

When the housing market was going strong in the early 2000s, homeowners gained a tremendous amount of equity in their homes. Many began to tap into that equity. Some started to use their homes as ATM machines to purchase luxury items like cars, jet-skis, and lavish vacations. When prices dipped, many found themselves in a negative equity situation (where the mortgage was greater than the value of their homes). Some just walked away, leaving the banks with no other option but to foreclose on their properties.

Today, the home equity situation in America is vastly different. From 2005-2007, homeowners cashed out $824 billion worth of home equity by refinancing. In the last three years, they cashed out only $232 billion, less than one-third of that amount. That has led to:

37% of homes in America having no mortgage at all
Of the remaining 63%, more than 1 in 4 having over 50% equity

Even if prices dip (and most experts are not predicting that they will), most homeowners will still have vast amounts of value in their homes and will not walk away from that money.

There Will Be Help Available to Individuals and Small Businesses

The government is aware of the financial pain this virus has caused and will continue to cause. Yesterday, the Associated Press reported:

“In a memorandum, Treasury proposed two $250 billion cash infusions to individuals: A first set of checks issued starting April 6, with a second wave in mid-May. The amounts would depend on income and family size.”

The plan also recommends $300 billion for small businesses.

Bottom Line

These are not going to be easy times. However, the lessons learned from the last crisis have Americans better prepared to weather the financial storm. For those who can’t, help is on the way.

Dealing with stress and anxiety

Managing Financial Stress

Essential Employees

Working from home

Spring Clean… and then redecorate with what you have

Teaching and Having Fun with the Kids

Guide to Grocery Shopping and Cooking

Stay safe, stay healthy, stay strong.

Bottom Line

Bottom Line

What is a recession?

Does that mean we’re headed for another housing crash?

What are the experts saying this time?

Bottom Line

For Cara Dumond, education was the starting point

From Masters degree to project support manager to management/retail positions

The transition to real estate and family time

Real Estate, family and community

Kate Vega finds her passion for real estate

It’s all about family

Bottom Line

How deep will it go?

*QUARTER 1 DATA FROM GOLDMAN SACHS WAS UPDATED FROM 0% TO -0.2% ON 3/17/20 AFTER THE INITIAL RELEASE.

Bottom Line

Some Highlights

The Government Learned its Lesson the Last Time

Homeowners Learned their Lesson the Last Time

There Will Be Help Available to Individuals and Small Businesses

Bottom Line

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