Agency News and Awards • August 15, 2017

Nancy Sardo Wins Second Quarter Sales Award

by Nicole McCormick

Nancy Sardo with principal broker and owner Geoff Green

Nancy Sardo Wins Second Quarter Sales Award

WARWICK – (August 8, 2017) The Green Team Home Selling System in Warwick, NY is proud to announce that Nancy Sardo recently won the Second Quarter Sales Leader Award.

Nancy has been listing and selling homes in Orange County, New York since 2005. Dedicated to her profession, she has earned her Associate Broker’s License, Seniors Real Estate Specialist designation and is an Accredited Buyer’s Representative. Nancy devotes her time and boundless energy to making sure she does her best for each and every client, staying on top of changes and trends in the real estate market and making sure that her clients have the best possible experience as they buy, sell, rent or build their home.

In addition, Nancy is passionate about new construction and her experience working with both builders and clients has led to her becoming the listing broker for several new subdivision developments throughout Orange County. Keeping on top of new building codes and their impact, as well as keeping the client on track with both schedule and budget, help her achieve her goal of making the experience of building a home a positive one for her clients.

Nancy’s philosophy is simple: “I love what I do for a living!” She goes on to say, “It takes a team to get the job done and I am proud to be part of a great team! I have the amazing opportunity to meet and work with the most wonderful clients and colleagues. Homeownership is a privilege and it is an honor to work with people who work so hard to achieve it.”

Sardo was born and raised in Queens, NY, but in 1999 she and husband Denis left the City for Warwick, where they raised their two children. A former Medical Assistant, Nancy volunteered with the Cub Scouts, as well as Meals on Wheels. Nancy made the transition to full time real estate agent 12 years ago and has never looked back.

According to Geoff Green, “This is Nancy Sardo’s first Quarterly Sales Leader award since becoming a Sales Associate here at The Green Team, and I am certain it will be the first of many. Nancy is a consummate professional hitting her stride, and it’s inspiring to watch her business grow before our eyes. I am honored that our company can assist her in all of her success.”

Housing Market News • August 15, 2017

LACK OF LISTINGS SLOWING DOWN THE HOUSING MARKET

by Nicole McCormick

The real estate market is moving more and more into a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the summer, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

Lawrence Yun, Chief Economist at NAR

“Last quarter’s robust pace of sales was especially impressive considering the affordability sting buyers
experienced from higher prices and mortgage rates. High demand is poised to continue heading into the
summer as long as job gains continue. However, many metro areas need to see a significant rise in new
and existing inventory to meet this demand and cool down price growth.”

Tom O’Grady, Pro Teck CEO

“The lack of inventory is very real and could have a severe impact on home sales in the months to come.
Traditionally, a balanced market would have an MRI (Months Remaining Inventory) between six and 10
months.

This month, only eight metros we track have MRIs over 10, compared to 27 last year and 48 two years
ago—illustrating that this lack of inventory is not being driven by traditionally ‘hot’ markets, but is
rather a broad-based, national phenomenon.”

Ralph McLaughlin, Chief Economist at Trulia

“Nationally, housing inventory dropped to its lowest level on record in 2017 Q1. The number of homes
on the market dropped for the eighth consecutive quarter, falling 5.1% over the past year.”

Freddie Mac

“Tight housing inventory has been an important feature of the housing market at least since 2016. For-
sale housing inventory, especially of starter homes, is currently at its lowest level in over ten years. If
inventory continues to remain tight, home sales will likely decline from their 2016 levels. …all eyes are
on housing inventory and whether or not it will meet the high demand.”

Bottom Line

If you are thinking of selling, now may be the time. Demand for your house will be strongest at a time when there is very little competition. That could lead to a quick sale for a really good price.

Selling a Home • August 14, 2017

How much does it cost to sell a house?

by Nicole McCormick

While many people save for and anticipate the costs associated with buying a home, not everyone realizes that selling a house also comes with its share of fees.

In some cases, these fees can account for 10 percent of the sale of the home. While many of these charges are negotiable and can fluctuate depending on the current real estate market, sellers should plan on paying at least some of these expenses.

Understanding the cost to sell a house can help prevent sticker shock when it comes time to close the sale.

Realtor’s commission

The real estate commission is often the largest fee that a seller has to pay. In many cases, these commissions can total 5 percent to 6 percent of the sale cost. This means that a house that sells for $250,000 could end up costing an additional $15,000 in commission fees.

The commission fee is split between the seller’s agent and the buyer’s agent. Many homeowners are attempting to skip these high fees altogether by going the sell-it-yourself route, but if you take this approach be prepared to assume the Realtor’s responsibilities.

These can include negotiations, hiring a contract lawyer and taking care of the transfer of title.

Home repairs

If you’re thinking about selling your home, chances are there are a few repairs that can boost the appeal of your home and even raise its value. If you’ve been putting off painting a bedroom, repairing a staircase or fixing a leaky faucet, now’s the time to make those changes. If you’re paying for repairs or upgrades with a credit card, be sure you’re getting cash back or rewards.

Inspection repairs

You may spend several hundred dollars on cosmetic fixes on your home, but if the buyer’s home inspection reveals any major problems, you might be responsible for paying to fix them as well.

Major repairs could be a financial setback, so it’s important to be prepared for them before you choose to sell, especially if you anticipate a problem with your home passing inspection.

Staging

Buyers like to have a clear picture of what the home will look like with their items in it. If your home is currently vacant or your possessions are outdated, you may want to hire a professional stager who can arrange furniture and accessories.

A 2015 National Association of Realtors study revealed that the median cost for staging was $675.

Utilities

If you plan to move out before you sell your home, you’ll want to continue to pay for your heat and electricity. A home without heat and lighting can be very difficult to show to buyers. Your current utility bills can give you an idea how much this will cost.

Mortgage payoff

The proceeds of your home will be used to pay off your mortgage, but it is likely that the number on your mortgage statement might be a little less than what you owe.

You’ll likely have to add prorated interest you’ve accrued to the total balance. Additionally, your lender may penalize you for paying early if you have a prepayment penalty associated with your mortgage.

Closing costs and additional fees

While the closing cost to sell a house is typically the responsibility of the buyer, don’t be surprised if you are asked to foot the bill, especially if you are trying to sell your home in a buyer’s market (one which has an influx of homes for sale).

Some of these costs may include HOA (or homeowners association) fees, property taxes, attorney fees, transfer taxes and title insurance. You also may be asked to pay an escrow fee, a brokerage fee and a courier fee. Altogether, closing costs can range from 2 percent to 4 percent of the selling price.

Many of the above fees are negotiable, and it is unlikely that a seller will be responsible for all of these. Still, it helps to be prepared. Knowing how much it will cost to sell a house can help you avoid disappointment when the time comes to put it on the market.

Thinking of Selling Your Home – Get your Free Home Evaluation Here!

Source: Bankrate.com

Housing Market News • August 10, 2017

Housing Inventory Hits 30-Year Low

by Nicole McCormick

Spring is traditionally the busiest season for real estate. Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home. Homeowners, in preparation for the increased demand, are enticed to list their house for sale and move on to the home that will better fit their needs.

New data from CoreLogic shows that even though buyers came out in force, as predicted, homeowners did not make the jump to list their home in the second quarter of this year. Frank Nothaft, Chief Economist for CoreLogic had this to say,

“The growth in sales is slowing down, and this is not due to lack of affordability, but rather a lack of inventory. As of Q2 2017, the unsold inventory as a share of all households is 1.9 percent, which is the lowest Q2 reading in over 30 years.”

CoreLogic’s President & CEO, Frank Martell added,

“Home prices are marching ever higher, up almost 50 percent since the trough in March 2011.

While low mortgage rates are keeping the market affordable from a monthly payment perspective, affordability will likely become a much bigger challenge in the years ahead until the industry resolves the housing supply challenge.”

Overall inventory across the United States is down for the 25^th consecutive month according to the latest report from the National Association of Realtors and now stands at a 4.3-month supply.

Real estate is local.

Market conditions in the starter and trade-up home markets are in line with the median US figures, but conditions in the luxury and premium markets are following an opposite path. Premium homes are staying on the market longer with ample inventory to suggest a buyer’s market.

What’s your home worth? Get your fast and free home value estimate now!

Bottom Line

Buyers are out in force, and there has never been a better time to move-up to a premium or luxury home. If you are considering selling your starter or trade-up home and moving up this year, let’s get together to discuss the exact conditions in our area.

Selling a Home • August 9, 2017

Do Your Future Plans Include a Move? What’s Stopping You from Listing Now?

by Nicole McCormick

Are you an empty-nester? Do you want to retire where you are, or does a vacation destination sound more your style? Are you close to retirement and not ready to move yet, but living in a home that is too big in size and maintenance needs?

How can you line up your current needs with your goals and dreams for the future? The answer for many might be the equity you have in your house.

According to the latest Equity Report from CoreLogic, the average homeowner in the United States gained $14,000 in equity over the course of the last year. On the West Coast, homeowners gained twice that amount, with homeowners in Washington gaining an average of $38,000!

Do you know how much your home has appreciated over the last year?

Many homeowners would be able to easily sell their current house and use the profits from that sale to purchase a condo nearby in order to continue working while eliminating some of the daily maintenance of owning a house (ex. lawn care, snow removal).

With the additional cash gained from the sale of the home, you could put down a sizeable down payment on a vacation/retirement home in the location that you would like to eventually retire to. While you will not yet be able to live there full-time, you can rent out your property during peak vacation times and pay off your mortgage faster.

Purchasing your retirement home now will allow you to take full advantage of today’s seller’s market, allow you to cash in on the equity you have already built, and take comfort in knowing that a plan is in place for a smooth transition into retirement.

Bottom Line

There are many reasons to relocate in retirement, including a change in climate, proximity to family & grandchildren, and so much more. What are the reasons you want to move? Are the reasons to stay more important? Let’s get together to discuss your current equity situation and the options available for you, today!

Buying a home • June 22, 2017

Buying Is Now 33.1% Cheaper Than Renting in the US

by Nicole McCormick

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!

Other interesting findings in the report include:

Interest rates have remained low and, even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
With rents & home values moving in tandem, shifts in the ‘rent vs. buy’ decision are largely driven by changes in mortgage interest rates.
Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home.

Selling a Home • June 20, 2017

Top Home Renovations for Maximum ROI [INFOGRAPHIC]

by Nicole McCormick

Some Highlights:

Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI).
While big projects like adding a bathroom or a complete kitchen remodel are popular ways to increase a home’s value, something as simple as updating landscaping and curb appeal can have a quick impact on a home’s value.
For more information about top renovation projects that net you the most ROI, you can check out the complete list here.

Selling a Home • June 20, 2017

Do You Know How Much Equity You Have in Your Home?

by Nicole McCormick

CoreLogic’s latest Equity Report revealed that 91,000 properties regained equity in the first quarter of 2017. This is great news for the country, as 48.2 million of all mortgaged properties are now in a positive equity situation.

Price Appreciation = Good News for Homeowners

Frank Nothaft, CoreLogic’s Chief Economist, explains:

“One million borrowers achieved positive equity over the last year, which means risk continues to steadily decline as a result of increasing home prices.”

Frank Martell, President and CEO of CoreLogic, believes this is a great sign for the market in 2017 as well, as he had this to say:

“Homeowner equity increased by $766 billion over the last year, the largest increase since Q2 2014. The rising cushion of home equity is one of the main drivers of improved mortgage performance. Since home equity is the largest source of homeowner wealth, the increase in home equity also supports consumer balance sheets, spending and the broader economy.”

This is great news for homeowners! But, do they realize that their equity position has changed?

According to the Fannie Mae’s Home Purchase Sentiment Index (HPSI), more homeowners are beginning to realize that they may have more equity than they first thought.

“This is only the second time in the survey’s history that the net share of those saying it’s a good time to sell surpassed the net share of those saying it’s a good time to buy.”

78.8% of homeowners have significant equity (more than 20%) in their homes today!

This means that many Americans with a mortgage have an opportunity to take advantage of today’s seller’s market. With a sizeable equity position, many homeowners could easily move into a housing situation that better meets their current needs (moving to a larger home or downsizing).

Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae spoke out on this issue:

“High home prices have led many consumers to give us the first clear indication we’ve seen in the National Housing Survey’s seven-year history that they think it’s now a seller’s market. However, we continue to see a lack of housing supply as many potential sellers are unwilling or unable to put their homes on the market…”

Bottom Line

If you are one of the many Americans who is unsure of how much equity you have built in your home, don’t let that be the reason you fail to move on to your dream home in 2017! Check your homes worth – click here

Let’s get together to evaluate your situation!

Agency News and Awards • June 13, 2017

The Green Team Welcomes Kim Lesley

by Nicole McCormick

Kim’s Unique Journey

“Your new home is the foundation in which to hold your family’s dreams, aspirations and visions. And it is my responsibility to find you a personal sanctuary that you can call home.” This is not a responsibility that Kim Lesley takes lightly. The Green Team is delighted to welcome her to their Warwick office. Kim brings her own unique life experiences and aesthetic to the team, and to her clients.

Kim’s journey began in England. It led her to New York City 28 years ago. A professional working musician, she continues to perform and teach singing. One of the original cast members of Broadway’s “Hamilton the Musical” just happens to be Kim’s daughter, Jasmine. Of course, Jasmine’s first singing teacher was her mom!

Some 24 years ago, Kim began to frequently attend the peaceful environment at Ananda Ashram in Harriman Heights. Furthermore, she leads meditation workshops as the Spiritual Director of her own program in rehab programs and outpatient facilities. Four years ago, she decided to make the move from Brooklyn to Monroe. Her purchase of a home in Orange County led her to become a full-time realtor, helping others to find their new home. “I fell in love with the beautiful Hudson Valley and its mountainous hills and valley. As a result, I wanted to share it with others!”

The Path Leads to the Green Team

Kim’s passions have given her special tools that are invaluable in this industry. Her ability to focus, to consistently, persistently hold onto a vision, have enabled her to see deals through when others have given up. Negotiating is her passion. She understands that each transaction has its own unique quality. It was doing a transaction with a Green Team agent that led Kim to this destination in her journey. “The realtor impressed me with his knowledge in what was a complicated transaction. Furthermore, I became drawn to what the Green Team was doing: its website, Facebook presence, and then to the people. The Green Team displayed an upbeat, positive attitude. Most of all, the agents were honest, friendly and helpful. There was a connection that made me want to be part of this.”

Kim’s understanding of the heart in others makes her dedicated to finding the perfect home for you. Whether buying, selling or renting a home, working with Kim will be an enlightening, joyous experience. And rest assured, she will go above and beyond for you, with guidance and wisdom, never losing sight of the ultimate goal.

To contact Kim or learn more about her Click Here.

Selling a Home • May 22, 2017

May the Forces Be With You…

by Better Homes and Gardens Green Team

Months Inventory of Homes for Sale from 2011 – Today

Thinking about selling your home? We have some information that will help to sell your home quickly There are two forces that can have very real impact on getting your house sold. The first force? The market itself, with its demand for homes and the shortage of inventory! The second force? Working with an experienced and successful sales professional. These two forces combined can result in quick results, multiple bids and getting your asking price. While these results have been pretty rare in the housing market, we just saw 3 success stories with just these results in just 2 months! Jen DiCostanzo and Vikky Garby, both agents here at Green Team Home Selling System, put these forces into play and made three sellers – and three buyers – very happy!

One Street, Two Sales, Two Months!

It is not often we see this kind of success. But for Jen DiCostanzo, 2016 Sales Leader of the Year, it doesn’t seem unusual at all. The first home was a raised ranch at 10 Sutherland Drive in the Village of Monroe. In beautiful, move-in ready condition, the house was located in an area great for commuting to NYC, and in close proximity to stores and restaurants. The home went to contract in less than 60 days after being on the market, and sold for 98% of its list price just 2 months after that!

The Second Home Goes on the Market!

Just days before 10 Sutherland Drive closed, 8 Sutherland Drive was put on the market. There was high buyer interest for this 4 bedroom/2 bath raised ranch, in the same ideal location. Multiple offers were made on this lovely, move-in ready home. It went to contract in less than a month, and closed one month later, at full asking price!

Success Breeds Success!

It is said that success breeds success. People do notice when a home in their neighborhood sells quickly. When they see an agent who is focused, attentive, and gets the job done! Of course it is not often that next door neighbors decide to sell their homes at around the same time. However, when someone in the neighborhood of Sutherland Drive does decide to sell, the tale of one street, two sales, two months is likely to be remembered!

Happy home owners – Sold their home in just two days

Low Inventory, Right Price Point. Bingo!

For the seller of 9 Emily Court, all the forces were aligned for an amazing sale. Working with Vikki Garby, with her background in investment banking and real estate investment, they were in good hands. The home was listed on a Sunday night. The very next day there were 9 showings, and there was an accepted offer above asking price on day 2! According to Vikki, there is extremely low inventory in the price range of $300k-$350k. By listing the house midway, it was at a very desirable price point. This story has a very happy ending. The house went to contract at 20 days, sold for $10,000 above asking price, and the new family is enjoying their home.

There are a few other forces in play…

In each sale above, the home was neat, decluttered, and depersonalized. Of course, location, proximity to stores, schools, etc. also play roles in the desirability of a home. Your Real Estate Agent will advise you on things you can do to ready your home for sale. And you have the power to make decisions and take actions that will make the force work for you! Choosing the right Real Estate Agent, one who is knowledgeable, experienced and there for you, is the first decision you’ll make. And perhaps the most important! Then listing your home at the right price point, as suggested by your Agent. Of course, taking care of the things around your house that will make it show well, can make a difference. You are a team, working together in a market that can work for you! May the forces be with you!

Nancy Sardo Wins Second Quarter Sales Award

Realtor’s commission

Home repairs

Inspection repairs

Staging

Utilities

Mortgage payoff

Closing costs and additional fees

Thinking of Selling Your Home – Get your Free Home Evaluation Here!

Real estate is local.

Bottom Line

Bottom Line

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

Other interesting findings in the report include:

Bottom Line

Some Highlights:

Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI).

While big projects like adding a bathroom or a complete kitchen remodel are popular ways to increase a home’s value, something as simple as updating landscaping and curb appeal can have a quick impact on a home’s value.

For more information about top renovation projects that net you the most ROI, you can check out the complete list here.

CoreLogic’s latest Equity Report revealed that 91,000 properties regained equity in the first quarter of 2017. This is great news for the country, as 48.2 million of all mortgaged properties are now in a positive equity situation.

This is great news for homeowners! But, do they realize that their equity position has changed?

78.8% of homeowners have significant equity (more than 20%) in their homes today!

Bottom Line

If you are one of the many Americans who is unsure of how much equity you have built in your home, don’t let that be the reason you fail to move on to your dream home in 2017! Check your homes worth – click here

Kim’s Unique Journey

The Path Leads to the Green Team

One Street, Two Sales, Two Months!

The Second Home Goes on the Market!

Success Breeds Success!

Low Inventory, Right Price Point. Bingo!

There are a few other forces in play…

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