Housing Market News • January 4, 2018

Tax Reform & Housing: A Reference Guide

by Nicole McCormick

[widget id=”blvd-social-links-widget-2″]

Disclaimer: This guide is not meant to be a resource for tax advice but instead a resource for basic information concerning only certain aspects of the new tax code and how they may impact the real estate market. You should get tax advice from your accountant or tax preparer who will explain how the entire tax code will affect your personal return.

This information comes immediately after the new tax code became law. Some of the information may be revised as the analysis of the new law evolves.

When the tax code was originally being overhauled by the House and the Senate, there were three major proposals being considered that would have substantially impacted the residential real estate market:

Changing the requirements for the exclusion of gain on the sale of a principal residence
The reduction on the limit of the Mortgage Interest Deduction (MID)
The elimination of the State and Local Tax deduction (SALT) which includes property taxes

Let’s look how the tax code has evolved from the original proposal, and decipher what impact experts believe it may have on the housing market.

1. Exclusion of gain on sale of a principal residence

Original Proposal: Owners would need to live in their house for at least 5 out of the last 8 years to claim this exemption. Under the former tax framework, a typical owner, who has lived in their house for at least 2 years out of the last 5 years, would pay nothing in capital gain taxes if they sell the house.

The New Tax Code: No change. The “at least 2 years out of the last 5 years” requirement is unchanged.

Impact on the Market: None.

2. Mortgage Interest Deduction

Original Proposal: Reduce the limit on the mortgage interest deduction (MID) amount from $1,000,000 to $500,000.

The New Tax Code: Reduces limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/17. Current loans up to $1 million are grandfathered.

Impact on the Market: Assuming a 20% down payment, this reduction in the MID will impact buyers that are purchasing a home between the prices of $938,000 and $1,250,000. Any home under the lower price is still covered and any home over the higher price was not covered under the former tax code either.

What does that mean to the market? Experts disagree. Calculated Risk’s Bill McBride:

“I think the impact of reducing the MID from a maximum of $1 million in mortgage debt to $750 thousand in mortgage debt will have very little impact on the housing market.”

On the other hand, Capital Economics claims:

“The impact on expensive homes could be detrimental, with a limit on the mortgage interest deduction raising taxes for those that itemize.”

3. State and Local Taxes (SALT)

Original Proposal: The elimination of the state and local tax deduction (which includes property taxes).

The New Tax Code: Allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes.

Impact on the Market: Most experts agree that higher taxed regions will be impacted as homeowners in those communities now have a cap on these deductions.

Calculated Risk’s Bill McBride stated:

“SALT will have an impact on housing in some areas. Some people might choose to live in one state over another (if they have a choice), based on taxation. This could impact demand in certain states – especially for the middle and upper-middle class homeowners.”

Mark Zandi of Moody’s Analytics said:

“The impact on house prices is much greater for higher-priced homes, especially in parts of the country where incomes are higher and there are thus a disproportionate number of itemizers, and where homeowners have big mortgages and property tax bills.”

What will be the overall impact on the housing market?

For most of the country, the new tax code will not have a negative impact on the market. As Capital Economics reports:

“Given most households will see an overall tax cut, and potential buyers are likely to put that saving towards their home, we doubt it will have a significant detrimental impact on the housing market.”

There is also no doubt that some higher priced, higher taxed regions will be affected more than others. However, most experts agree that other portions of the tax code will favor the high-end buyer and seller, and this might mitigate many concerns. McBride explains:

“The corporate tax cuts (and other tax cuts) will mostly benefit the wealthy, and this will be a positive for high end real estate.”

What does this all mean to you?

To know for sure, you should sit with your accountant or financial planner and explore how all the aspects of the new code will impact your family.

Most families consider homeownership an essential part of the American Dream, and don’t purchase a home based solely on the tax advantages. The main reasons they buy a home are personal (they just got married, they are looking for a good place to raise children, they want to be near friends and family, they want to better enjoy their retirement, etc.). This will never change.

Looking at the new tax code, Mr. McBride’s opinion makes the most sense:

“There will be some negative impact based on SALT, but overall the impact of these policy changes on housing will be minimal.”

Still have some questions? The Green Team is ready to help. Give your local agent a call or contact us for assistance.

Community Support • December 21, 2017

Light Up the Holidays is Making the Season Brighter for Two Local Charities!

by Nicole McCormick

Local businesses and individuals have joined forces with the Green Team by becoming sponsors for our Second Annual Light Up the Holidays event. To date, Orange County sponsors have raised $3,400 for Warwick Playground Dreams, and Sussex County sponsors have raised $2,350 for the Vernon Senior Center. Sponsorship donations are made directly to the charity, and you’ll find these generous community and business members featured on the Green Team’s website, where they will have a permanent place of honor! It is not too late to join our sponsors in making a lot of dreams come true.

And now the fun begins! We are looking for photos of homes that reflect the beauty of the season to feature on our website and Facebook page! Enter your own home, nominate your neighbor, or a business whose decorations you admire! Also, don’t be surprised if a Green Team member has admired your light display and left you a placard asking you to register on our website! Visit https://www.greenteamhq.com/luh2017 to register, to see the community members who have donated so generously to these two charities, and to place or see your home in the competition!

Wishing all a joyous holiday season!

Click on the images below to view homes in your area that have been entered into the Light Up The Holidays 2017 contest so far. Continue to check back as homes will continue to be added through the new year.

Housing Market News • December 13, 2017

Before You Make an Offer, Here Are 4 Tips for Success!

by Nicole McCormick

So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found it! The price is right, and in such a competitive market, you want to make sure that you make a good offer so that you can guarantee that your dream of making this house yours comes true!

Freddie Mac covered “4 Tips for Making an Offer” in their Executive Perspective. Here are the 4 tips they covered along with some additional information for your consideration:

1. Understand How Much You Can Afford

“While it’s not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”

This ‘tip’ or ‘step’ should really take place before you start your home search process.

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace).

2. Act Fast

“Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.”

The inventory of homes listed for sale has remained well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream homes.

Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible.

3. Make a Solid Offer

Freddie Mac offers this advice to help make your offer the strongest it can be:

“Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”

Talk with your agent to find out if there are any ways that you can make your offer stand out in this competitive market!

4. Be Prepared to Negotiate

“It’s likely that you’ll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you’ll be glad you did your homework first to understand how much you can afford.

Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.”

If your offer is approved, Freddie Mac urges you to “always get an independent home inspection, so you know the true condition of the home.” If the inspector uncovers undisclosed problems or issues, you can discuss any repairs that may need to be made with the seller, or cancel the contract.

Bottom Line

Whether buying your first home or your fifth, having a local real estate professional who is an expert in their market on your side is your best bet to make sure the process goes smoothly. Let’s talk about how we can make your dreams of homeownership a reality!

Community Support • December 4, 2017

The Green Team is proud to Light Up the Holidays for Warwick Playground Dreams

by Nicole McCormick

The Green Team celebrates the holiday season by recognizing the joy and beauty of homes and businesses whose decorations Light Up the Holidays and our communities. It celebrates the ideals of giving and sharing that are at its core by raising money for local charities. And this year, what better way to celebrate the Holidays than by selecting a charity devoted to children!.

Warwick Playground Dreams

Parent volunteers from throughout the Town of Warwick make up this non-profit organization. Their goal, to raise the funds needed to replace aging equipment in Stanley Deming Park. Working with Play by Design of Ithaca, NY, the new playground will not only be whimsical and fun, but also inclusive, with ADA-accessible playground equipment. The playground will also be community built. It is hoped that local artists will decorate it to reflect the culture, history and beauty of Warwick.

Working together with the Village, schools,and Play by Design, volunteers are organized and ready, willing and able! Unfortunately, building a creative, fun and accessible playground is expensive. So being selected as the recipient of donations from Warwick’s Green Team Light up the Holidays event was good news. And on November 29 there was great news. The Light Up the Holidays team presented Warwick Playground Dreams with donations of $1,950. With the continued generosity of Warwick’s businesses, professionals and individuals, there will be more to come.

It Takes a Community to Build a Playground

“We were very excited and grateful when the Green Team reached out to us and offered to help us bring the community together in support of all of Warwick’s children,” said Hannelore Chambers, President of Warwick Playground Dreams. “It is so heartening to see other members of the community reaching out to help us raise awareness and get closer to our $300,000 goal.

As many other towns and cities before us have experienced, building a playground can also build a greater sense of community. How empowering for the children to see what a great thing can be created if everyone works together, and that this playground is being created out of love for them by their parents, grandparents and neighbors. Through our very close collaboration over the last year, many of our committee members have already experienced how strong bonds can be created all across the town between families who might not otherwise have crossed paths due to geography and different school districts.”

You Can Be Part of this Wonderful Project

Light Up the Holidays Sponsors are helping to purchase materials and equipment needed to build the playground. There will be challenging equipment for older kids, and equipment accessible and useful to children of different abilities. The organization will soon be entering their second phase of fundraising efforts. Local groups, businesses and families will be able to sponsor specific playground components. This will range from individual swings and slides to a proposed dual zip line and a wheelchair accessible merry-go-round.

For more information on the Green Team’s Light Up the Holidays event, visit https://www.greenteamhq.com/luh2017. For more information on Warwick Playground Dreams, visit their website at http://warwickplaygrounddreams.com/.

Community Support • December 4, 2017

The Green Team Lights Up the Holidays… and Faces at the Vernon Township Senior Center

by Nicole McCormick

The Green Team celebrates the holiday season by recognizing the joy and beauty of homes and businesses whose decorations Light Up the Holidays and our communities. And it celebrates the ideals of giving and sharing that are at its core by raising money for local charities.

Meet the Vernon Recipient of Light Up the Holidays 2017 Donations

Keren Gonen of Green Team New Jersey Realty shocked Jane Damstra, Director of the Vernon Township Senior Center, when she told Jane that her organization had been selected as its designated charity. Jane’s shock, however, soon turned to excitement as she started imagining what the sponsorship donations could mean to the approximately 200 seniors who come to the Center annually. On any given day you can find between 38 and 50 seniors ages 60 and over at the Center. First of all, some come for the lunch provided by the Senior Services Nutrition Program for a $2 donation. And many are there to enjoy the activities offered by the Center. Currently these include Zumba, shuffleboard, line dancing, Wii bowling and pool, cards, watching DVD’s. Almost all of these activities involve minimal cost, and don’t provide the challenge and creativity that many seniors crave.

And now Keren has shocked Jane once again. On November 30 she presented Jane with $1,450 in donations. Furthermore, with the continued generosity of local businesses throughout Sussex County, there will be more to come.

Local Businesses Can Make a Difference

Aging does not bring an end to creativity, to curiosity, to learning, to enjoyment of life. Local businesses that sponsor the Green Team’s Second Annual Light Up the Holidays Contest can make a real difference in the lives of Vernon’s seniors. Because, now programs that Jane had only dreamed of can start to become reality.

One of her top priorities is the purchase of two laptop computers. They’ll be used as part of a training program with tech-savvy high school volunteers. The volunteers will teach the seniors to use the internet to talk to faraway family members, pay bills, and more. A group of talented knitters at the Center create items for donation to charitable causes. However, wool can be expensive. Thus, another priority is crafting supplies, including wool needed for these projects. Jane would also love to start a watercolor class. And she’d like to bring in guest speakers and instructors. Generally, fees exceed what the program budget will allow. Furthermore, there are other programs she wants to start – day trips for the many who are no longer able to drive themselves. Trips to the mall, to see local theatre productions… The list goes on.

Brighten your community through Light Up the Holidays!

Local professionals, businesses and individuals can work with the Green Team to bring exciting new programs to Vernon’s vibrant senior population. And if what comes around goes around, there will be light and joy enough for all of us! For more information about the Green Team and its Second Annual Light Up the Holidays Event, visit https://www.greenteamhq.com/luh2017/, and for more information about the Vernon Township Senior Center, visit http://www.vernontwp.com/services/senior_center/,

Housing Market News • November 27, 2017

Local Real Estate Market Review – October 2017

by Nicole McCormick

October’s Market Review Meeting was held a little more than a week before Thanksgiving, and a little more than a month before we ring in a new year. It’s the perfect time to talk about goals that have been set, goals that have and have not been met, and goals that have been exceeded. The Green Team’s Warwick office is one of the top ten agencies in Orange County, with a goal of being one of the top five! And the Vernon office, which opened its doors just 18 months ago, is already in the top 25 of all Sussex County agencies! The Warwick office, as of October 31 it has already exceeded 2016’s year-end total. Green Team New Jersey Realty does not have a full year to compare 2017’s sales to, but its anticipated year-end sales will clearly demonstrate a successful accomplishment for a new agency.

Exceeding Goals and Expectations

2017 has seen exciting goals being set and met by agents in both offices. Mention Sales Leader Awards in Warwick, and there are two names that immediately come to mind: Jennifer DiCostanzo, 2016 Sales Leader and First Quarter Sales Leader Award winner for 2017, and Nancy Sardo, winner of the 2nd and 3rd Quarter Sales Leader Awards for 2017. Jen has already exceeded her goal for this year, and Nancy is close to reaching hers. Who will be the 4th Quarter Leader and who will be 2017 Sales Leader? We can’t wait to find out! And, while these two battle it out, Chris Kimiecik, while new to real estate, has blasted way past his goal of $1,000,000 in sales. Other agents have either reached or exceeded their goals, and others are still working towards meeting theirs. In Vernon, Keren Gonen is a shining star! Another agent new to the business, Keren set a very high first year goal of $3,000,000 – and she has already exceeded that! These agents are excellent examples of the opportunities and possibilities that exist in our industry, as well as demonstrating the hard work, dedication and drive that it takes to reach and then exceed goals. There are many other agents who are exceeding the goals they set for themselves for 2017. Green Team’s agents in both offices are working hard, constantly striving to improve their knowledge and skills, all while providing top notch service to their clients. 2018 looks to be an exciting year for all.

“How is the market?”

When a client asks this question, an agent’s answer is indicative of their level of professionalism and knowledge. This market review meeting focused on how to analyze local real estate stats to provide a clear and accurate portrait of market conditions to clients.

Average Sold to Asked Ratio

This is the percentage a house sold for under or over the last asking price (not the original price).

Sussex County:

With an average of 96.8%, the Sold to Asked Ratio in Sussex County in 2017 has been higher than any of the previous four years. There has been a slight downward trend since July, but this can be attributed to a seasonal fluctuation. Besides, October’s average of 96.35% is still higher than any month during 2013 to 2016.

Orange County: In Orange County, the Sold to Asked Ratio is almost 98%, which means the market is Hot!!!

Units Sold

The term units here includes single family homes, condominiums, townhomes and multi-family homes with 1-4 units.

Sussex County: Here again, the stats show that the 2017 market is hot, with more units being sold this year than in any of the years from 2013 to 2016. There was a dip in September, but then a rise in October.

Orange County: Orange County seems to be trending the same as Sussex County, with a dip in September, then climbing back up in October. Green Team’s internal numbers track the market trend of the rise in the number of units sold in October. The number sold was greater than in July, which is unusual, and it was greater than October in each of the four years prior.

Average Days on Market

The faster things are selling, the hotter the market, so look for the lowest number on the graph as opposed to the highest. In New York State, the calculation was changed so that it is from the List Date to the Contract Date, rather than to the Binder Date, which was the standard 3 years ago.

Sussex County: With an average of 91.03 days on the market, 2017 once again proves itself to be a hotter market than the previous four years.

Orange County: A trend similar to Sussex. With an average of 110 days for the year to date, October listings are below that, with an average of 92.54. 2017 has been consistently lower than the prior four years.

Homes that sold at 100% or more of last asking price

Sussex County: In October the number dipped slightly below last year’s October number, but still almost one-third of homes are selling at 100% of their asking price – or above it!

Orange County: Orange County is at approximately 35%, and is higher than last year.

Average Price

Sussex County: Despite the market being hot, prices have gone down since 2013, when the average price was $243,909. In 2017, it’s $221,196. In fact, on average, prices are lower this year than the last four years. When pricing a home for a client It is essential to look at hyper-local comparables.

Orange County: The story is different in Orange County. The graph shows peaks and valleys, with some stabilization between September and October, and the average price of homes in 2017 is $238,220. That number was $235,213 in 2013, $235,868 in 2014, and $229,637 last year. Again, although the market is hot, prices have not risen as many might expect, so it is important to check local stats to see what houses in a given neighborhood are going for when pricing a home for the market. This does not appear to be a market trend where you can say prices are definitely coming up.

So, How is the Market?

After reviewing all of the data contained in the graphs for these categories for Sussex County and Orange County, the real estate market is Hot!!! If trends continue their upward climb we can anticipate another great year in 2018. Continue setting goals and let the market help you achieve the best possible deals for sellers, and find the best home, at the best price, for buyers.

Our Next Market Review Meeting

Our November Market Review Meeting is scheduled for Tuesday, December 12. As always, we look forward to keeping on top of our goals and discussing matters that are important to the success of your real estate transaction with our agents. We’ll then be posting information that we hope you’ll find interesting and helpful.

Agency News and Awards • November 13, 2017

Tom Folino Joins the Green Team

by Nicole McCormick

The Green Team Home Selling System is pleased to announce that Tom Folino has joined our organization. Tom, a true Warwick native, was born and raised here. His father, the owner of Folino’s Shoe Repair, was a fixture in the Village of Warwick, and his mother remains active to this day, now involved in the senior citizens’ retirement group.

Tom grew up loving his hometown and sports. He combined his love of both by coaching teams in Little League Baseball, the Youth Recreation Soccer Program, and the Youth Basketball League. Tom received his B.S. in Physical Education and Health from Slippery Rock University and his M.S. in Sports Administration from Montclair University. He taught in the Warwick Valley Central School District for 34 years, where he was also the Boys Varsity Basketball Head Coach and the Boys Varsity Golf Head Coach. Tom and his beautiful wife of 29 years, Nancy, raised their two sons here in Warwick. Thomas, the eldest, is a 4th-year medical student at NYCOM and younger son, Tyler is pursuing his Master’s Degree in Real Estate Development at Columbia. Nancy is a Director of Nursing at White Plains Hospital in Westchester.

Even when buying and selling his own homes throughout the years, Tom found that he really enjoyed the process – from obtaining financing to negotiating the best deals, and everything else involved. After retiring from teaching, Tom decided to turn his attention to real estate full time, motivated by a desire to help people sell their houses and find homes they’ll love in this community he knows so well. Tom, a well-respected teacher, and coach brings the same enthusiasm, dedication, and professionalism to his real estate career. His clients’ needs and desires come first, and his familiarity with Warwick and its many neighborhoods and villages is a real asset.

When asked why he chose to join the Green Team, Tom said that was easily answered in two words: “Geoff Green.” It seems that Tom coached Geoff some years ago and even then was impressed by the young man’s work ethic, perseverance, and leadership skills.

And, according to Geoff, “There might not be a better person to get into Real Estate in the Warwick NY market than Tom Folino. A true example of someone who has a huge network is extremely likable and always acts with integrity. What people might not know about him is that he is extremely diligent in his follow up and a very smart guy to boot. We are extremely blessed that Tom has decided to join our company.”

So, here we have it! The former coach and former player… together on the same winning team again.

Agency News and Awards • November 2, 2017

Nancy Sardo wins Third Quarter Sales Leader Award

by Nicole McCormick

WARWICK – (November 1) The Green Team Home Selling System is located at 7 Main Street in the Village of Warwick.

Nancy Sardo is on a roll! The Green Team Home Selling System in Warwick, NY has announced that Nancy recently won the Third Quarter Sales Leader Award, after having won the award for the Second Quarter. When asked about her recent successes, Nancy makes it clear that she doesn’t want to talk about herself. “It’s not about me,” she says. “It’s about the support the Green Team offers. It’s about the most up-to-date marketing tools, resources and training sessions available to us. It’s about co-workers that form a very real team, always having your back and always being there to offer advice and support. But most of all, I am grateful to work with a Broker who does everything he can to help everyone, from newcomers to seasoned agents, build their businesses and achieve their goals. Geoff Green works tirelessly to provide us with the latest educational, technical and marketing tools we need to succeed. And he always makes himself available to answer questions, brainstorm problems, and encourage us to be the best we can in this business.”

According to Geoff Green, “Nancy Sardo is a true superstar. That pretty much says it all. Nancy has won her second (in a row) Quarterly Sales Leader Award. Nancy’s business is truly flying and quite frankly she is going to be hard to catch. I have never seen Nancy so focused and confident in her Real Estate Sales business. It’s fun to watch and to do all that we can to help her along.”

Nancy is an Accredited Buyer’s Representative (ABR), and has earned her Associate Broker’s License as well as Seniors Real Estate (SRES) designation. In addition to listing and selling homes throughout Orange County, Nancy is passionate about new construction and has helped many clients build their dream homes. Nancy, husband Denis and their two children make Warwick their home. For more information, visit the Green Team website for Nancy’s biography and current listings.

Agency News and Awards • November 1, 2017

Barbara Tesa Wins Third Quarter Sales Leader Award – 2017

by Nicole McCormick

VERNON, NJ – (November 1) Green Team New Jersey Realty in Vernon, NJ is proud to announce that Barbara Tesa is the recipient of its Third Quarter Sales Leader Award.

Though relatively new to Green Team NJ Realty, Barbara is no newcomer to the real estate industry. She brings to the Green Team over 20 years of professional experience in residential and commercial real estate management and 8 years as a successful licensed real estate agent in New Jersey. Barbara’s professionalism, knowledge and commitment to her clients is evident in the numbers: 4 out of the five transactions she had for this quarter sold in under 30 days!

When asked what her motto for success is, Barbara promptly replied: “Your Property…My Priority!” She went on to explain, “I believe the strongest asset I have personally is really listening to what the client has to say and making it my priority to deliver for them. When listing a property, besides having a great rapport with the sellers, I feel marketing is key. Coming on board with Green Team New Jersey has provided me with so much opportunity to broaden my marketing skills, it has paid off. The added plus at Green Team is the positive morale and encouragement here; it’s such a pleasure working with a Broker who is hands on and truly takes an interest in each agent’s performance. Happy to be part of the “TEAM”!”

According to Geoff Green, “This is Barbara Tesa’s first Green Team Quarterly Sales Leader award, and I am more than confident that it won’t be the last. In fact, I think it will be the first of many. Barbara is a consummate professional who is always looking to improve her craft of selling homes. We are extremely blessed to have Barbara in our Agency and we look forward to assisting her to many future Quarterly Sales Leader awards.”

Barbara and her husband, Rudi, bought and sold several homes in Bergen County before discovering the magical combination of resort living and the natural beauty of Sussex County at Crystal Springs, where they currently reside. As a realtor and long-time resident there, Barbara has worked with many clients buying or selling in Crystal Springs, as well as surrounding areas. So, you can add expertise in Resort Homes to Barbara’s list of qualifications, along with membership in Garden State Multiple Listing Service, National Association of Realtors and the Sussex County Association of Realtors.

Buying a home • October 9, 2017

To Work with a Buyer’s Agent or a Listing Agent, that is the Question

by Nicole McCormick

For some people, it’s almost a moral dilemma. They’ve been talking to an agent they like. Then they see a house they like. However, the house is listed by a different broker. Consequently, they feel that it’s only ethical to contact the listing agent.

Or, they think they’ll be able to negotiate a better price by going directly to the Listing Agent.

What’s in a Name? An agent by any name would get me a good deal.

Some buyers believe the listing agent will give them a better deal. After all, they’re saving that agent from splitting a commission. Hence, a listing agent shouldn’t mind negotiating a better deal for them, or giving up part of his or her commission.

The buyer doth presume too much, methinks.

Or, the buyer sees a listing with an agent’s name, and imagines all the work that has gone into this deal. So, it’s only right that they should give the listing agent their business, too. It just wouldn’t be fair to have another agent show them the property. Hence, the buyer presumes that the listing agent will be upset by bringing a buyer’s agent into the picture.

To Thine Own Client Be True.

However, in both scenarios, a major factor is missing. Who has the Buyer’s back? The Listing Agent represents the Seller. Therefore, the Seller’s best interests come first. The Agent will want to get his client the best possible purchase price, which in turn will mean a larger commission. The Listing Agent has advised the Seller on how to market and sell their home, prepare it for showing, price it realistically, handle offers and negotiate the best deal for his client.

This is where the Buyer’s Agent comes in. She wants to get her client a new home for the best possible price. Additionally, she has the knowledge and expertise to advise on neighborhoods, schools, property valuation and more. The Buyer’s Agent will arrange showings for each property her client is interested in, advise on obtaining pre-approval and financing from a lender, and handle problems that might arise during home inspection, etc. She will negotiate the best deal for her client, and handle the legalities and paperwork of closing. Furthermore, the Buyer’s Agent may continue to help her client even after closing. Recommendations of local businesses and services can be an immense help when a client is new to a neighborhood.

The better part of the client/agent relationship is discretion.

Whether a Buyer’s Agent or Listing Agent, there are certain characteristics each should have. Confidentiality, loyalty, accountability, disclosure, adherence to laws… These are just a few of the traits a good agent possesses.

To work with a Buyer’s Agent or Listing Agent, that is the question. And the answer is, find the real estate agent with the knowledge, experience and expertise to best represent you in either buying or selling your home.

Want to learn more about buying a home, Download our free 22-page Home Buying Guide.

1. Exclusion of gain on sale of a principal residence

2. Mortgage Interest Deduction

3. State and Local Taxes (SALT)

What will be the overall impact on the housing market?

What does this all mean to you?

1. Understand How Much You Can Afford

2. Act Fast

3. Make a Solid Offer

4. Be Prepared to Negotiate

Bottom Line

Warwick Playground Dreams

It Takes a Community to Build a Playground

You Can Be Part of this Wonderful Project

Meet the Vernon Recipient of Light Up the Holidays 2017 Donations

Local Businesses Can Make a Difference

Brighten your community through Light Up the Holidays!

Exceeding Goals and Expectations

“How is the market?”

Average Sold to Asked Ratio

Units Sold

The term units here includes single family homes, condominiums, townhomes and multi-family homes with 1-4 units.

Average Days on Market

Homes that sold at 100% or more of last asking price

Average Price

So, How is the Market?

Our Next Market Review Meeting

What’s in a Name? An agent by any name would get me a good deal.

The buyer doth presume too much, methinks.

To Thine Own Client Be True.

The better part of the client/agent relationship is discretion.

Our Offices

Ringwood, NJ

Goshen, NY Real Estate

Pine Island, NY Real Estate