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Green Team Client Appreciation Day
Green Team Client Appreciation Day – Saying Thank You with Pie
It is no coincidence that our Client Appreciation Day takes place just before Thanksgiving.This is the time of year we reflect on who and what we are grateful for. We express our thanks to family and friends. But it is also the time of year we want our clients to know how much we appreciate them. The Client Appreciation Program is the cornerstone of Green Team Realty’s foundation. While our sales associates express their appreciation throughout the year, the Thanksgiving Pie tradition has become the highlight of the CAP program.
A Noble Tradition
Clients are invited to come to our offices to pick up their Thanksgiving pie. This gift is their sales associate’s way of saying, “Thank you for your business, your referrals, and your friendship.” Whether it’s the Warwick or Vernon office, the atmosphere is the same. There is warmth, happiness, and lots of laughter. And lots and lots of pies! Since Green Team Realty supports local businesses, these gorgeous pies are provided by Noble Pies each year.
Thanksgiving Pies – A Family Event
There is a bond that exists between Green Team’s sales associates, and a bond between sales associates and clients. And these bonds are only strengthened by events such as this. It’s almost like a family reunion. Catching up on how things are going, sharing stories and food. And for Green Teamers there is joy in knowing that in two days a pie given in appreciation will be gracing the Thanksgiving table of a valued client and friend.
Green Team’s 2019 Launch Competition has blasted off!
Green Team’s 2019 Launch Competition has blasted off. And it looks like this year’s teams are all on board for an exciting ride!
The Launch Competition is about inspiring sales associates to get back to basics, enhancing those skills that lead to the exceptional client service the Green Team is known for. During this yearly event, associates compete individually and on teams. And Team Captains lead the way, motivating and training team members to best utilize the Green Team’s custom-designed customer relationship management system, or CRM.
Meet the Teams
The Masterminds, Warwick, NY Office
Angela Murphy returns again as Launch Team Captain. The team’s goal is to utilize the CRM during the competition, as well as throughout the year for a more organized business. According to Angela, “We have an energetic and supportive team and we truly enjoy each other as team mates.”
Mastermind Team Members include: Anthony Ajello; Al Beers; Janine Blandino; Carol Buchanan; June Cosgrove-Hays; Rich Czubak; Kristen DeRosso; Jennifer DiCostanzo; Barry Ferrari; Tom Folino; Karen Gauvin; Terry Gavan; Chris Gehrlein; Toni Kreusch; Vilma Lawla; Mary Lynch; Krissy Many; Connie Marines; Tiffany Megna; Angela Murphy; Nancy Sardo; Ed Sattler; Denise Schmidt; Susan Stinneford; Gidget Tavares; Lucyann Tinnirello; Bobby Valentine; Linda Vandeweert, and Nicole Willner.
Rock’n’Roll, Warwick, NY Office
Kim Lesley stepped up to volunteer as Team Captain for this aptly named group. According to Kim, “Our strategy is to develop a feeling of support, fun and results!”
Rock’n’Roll Team Members include: Tracey Decker; Kasey Decker; Dean Diltz; Jason Gaer; Vikki Garby; Julianna Green; Joe Green; Anne Hemmer; James House; Rebecca Hundley; Chris Kimiciek; Megan Kimiciek; Pip Klein; Jacque Kraszewski; Kim Lesley; Cam Monaco; Jim Moser; Nick Nocosia; Alan Norberg; Alyson Pulliam; Jane Reilly; Walter Ross; Cynthia Sanford; Tammy Scotto; Tom Shields; Janet Sutherland; Toni Vogel, and Ali Yurchuck.
Gonen’s Greenies, Vernon, NJ Office
Keren Gonen is another returning Team Captain. Their team strategy is to work together to make it happen. And Keren’s team motto is “There is no TRY. There is only DO!”
Gonen’s Greenies Team Members include: Keren Gonen; Alison Miller; Charlie Nagy; Marissa Rossi; Yvette Saldana; Stacey Springer; Barbara Tesa; Ted Van Laar and Pam Zachowski.
Witte’s Wonders, Vernon, NJ Office
Cathie Witte has also volunteered to be a Team Captain. Her team strategy is simple, “Just encouraging each other.”
Witte’s Wonders Team Members include: Jaime Dalton; Heidi Hyland; Jared Kunish; Kim Lasalandra; Sheena Masters; Ann Nussberger; Joyce Rogers; Cathie Witte and Sharon O’Roarke.
Geoff and Joe Green – Son & Father Together Again
Forty years after founding his own brokerage, Joe Green has joined his son’s company. And father and son are a force to be reckoned with.
In Orange County, NY the name Green is synonymous with Real Estate. Furthermore, it is associated with exceptional client service. Joseph Green Realtor was founded in 1978, and 27 years later that’s where Geoff Green began his career. That’s where Geoff learned from some of the best in the business – his mom and dad, Marie Pennings and Joe Green.
Eventually Geoff did what kids do. He decided to spread his wings. And in 2005, Geoff founded Green Team New York Realty.
Meet Joe Green
Joe didn’t start out wanting to be in the real estate business. Rather, his goal was to teach. He taught physical education and coached football in Warwick. His wife, Marie, was a registered, part-time nurse.
Joe loved what he was doing, but back in 1974 a teacher’s salary wasn’t enough to support a family with 5 kids. Since he needed to supplement his income, Joe saw real estate as a way to make extra money if he worked hard at it
Finding His Calling
However, once he got into it, he discovered he’d found his calling. Because it wasn’t just about making more money. It was about meeting new people, and the adventure that came with each unique transaction. Maybe the most important aspect was that helping people was becoming emotionally rewarding. Marie also got her license, and real estate became a family affair.
In 1980, Joe and Marie decided it was time to go into real estate full-time. They purchased the building at 7 Main Street in Warwick. In 1982 they bought a building in Goshen and opened their 2nd office. Finally, they expanded into Washingtonville.
Life is what happens while you’re busy making plans
When Geoff was in the third grade, everything changed. Joe and Marie divorced, and the children went to live with their mom. While divorce is hard for the parents, it is also difficult for the children.
But life goes on, even when families are divided. Joe continued to build his real estate business, but found that divorce wasn’t the only hardship. In 1987 the housing market tanked, and they had to downsize. Marie took over the Warwick office. Joe closed down the Washingtonville office and kept the Goshen office. Despite all of the hardships Joe persisted.
Experience that spans decades
Joe has been in this ever-changing profession for over 40 years. Back in 1974, when Joe first started practicing, everything was open listing. Clients would call several brokers and they’d all be in direct competition with each other. Then MLS came along and exclusive right to sell became the norm. One brokerage firm tried to impress Joe with the latest in technology, which would change the way business was done. And so, Joe received his introduction to the fax machine.
However, it’s the experience that counts. And Joe and his team provided a full complement of real estate services. That included residential, commercial, land, farm and ranch sales, investment sales, leasing, property management, residential appraising, financial and legal referral services, and relocation services. They covered Orange, Rockland, Westchester, Sullivan and Ulster Counties. Furthermore, his expertise and vision helped to safely guide his clients through some very difficult economic cycles.
Change in the Air
In 2013 Joe decided to shut down the Goshen office and moved his Agency to Chester. However, he began to see that the key to a successful brokerage was technology. And his son was a master at using technology to grow his business. When Geoff opened his own office in 2005, at the 7 Main Street location, Joe couldn’t have been prouder or more excited.
And through the years, he saw what was happening at the Green Team. Technology was enhancing the way brokers worked. Consequently, Joe decided that it was time to join forces with his son and combine the best of both worlds. Each man brings incredible experience and expertise. Together, there is no stopping them.
And Joe doesn’t come to the Green Team alone. He brings with him three of his best agents. Cam Monaco has been with Joe for 30 years. While Krissy Many is newer to the business, she’s a powerhouse. And Vilma Lawla is also excited to be part of the Green Team.
The Future Looks Bright
Joe looks forward to sharing his knowledge. His advice? “Every day you can learn something new. Be like a sponge. Do it your way. Don’t copy but learn from everyone else. Experience can help some of the more inexperienced.” And Joe hopes that his years of experience will help newer agents.
Geoff is excited about having his dad join the firm, “I can’t explain how blessed I feel that Pop is now part of our Agency. It’s amazing to not only see him around the office, but to watch him doing what he does best: sharing his wisdom. Pop is one of the most experienced Real Estate Brokers I know. It’s a simple fact that our Agency just got a lot better as a result of Pop deciding to come on board with the Green Team.”
The two men respect each other and their individual contributions to the industry and their community. They look forward to combining over 50 years of experience and forging a new beginning. They are indeed a force to be reckoned with.
Vikki Garby receives her Commercial and Investment Real Estate Certification
The Green Team is pleased to announce that Vikki Garby has received her Commercial and Investment Real Estate Certification. Vikki’s new certification, coupled with her previous work experience, further strengthens her skill set when it comes to assisting real estate investors and commercial clients. Not only is she Commercial and Investment Real Estate Certified (CIREC). Her own experience informs her knowledge and ability.
A 1997 graduate of Cornell University, Vikki worked for Deutsche Bank in New York City as an investment banker. There she reviewed and negotiated complex contracts on a regular basis. During that time, she also became a real estate investor. And she negotiated transactions as a buyer. Her love of real estate and her skill at navigating its many transactional parts lead her to obtain her license so that she could help others
The CIREC Program
The intensive CIREC program covers a wide range of topics vital to commercial and investment transactions. Among them are the financial related aspects. These include tax implications of selling a property, 1031 Exchanges, valuing properties for sellers, preparing a financial analysis of properties for investors, and comparing financial impacts of leasing vs. buying for user buyers.
Housing Market Update for June 2018 & Impact of Federal Tax Reform on Housing Market
Orange & Sussex Counties – Housing Market Update for June 2018 and Impact of Federal Tax Reform on the Housing Market
The Green Team went live on Facebook Tuesday, June 12 with its monthly housing market update. Geoff Green, President of the Green Team, moderated the event. Panelists included sales associates Vikki Garby and Kim Leslie of the Warwick office and Keren Gonen and Joyce Rogers from the Vernon Office. Guest panelists were Dan Bounds, Senior Home-Lending Advisor with Chase Bank and Ed Mainland, Executive Director at JP Morgan Chase & Co. A special presentation was given by Thomas McGlynn, Managing Director of BDO Expatriate Services, on the impact of federal tax reform on the housing market.
Overview
Nationally there has been a 5.3% year-over-year increase in existing home prices. Low to middle-level houses are moving faster than higher-end homes. However, economists are concerned about the affordability of homes for the entry buyer level. The lack of inventory is driving home prices up. The West Coast has been moving at a greater pace than here in the North East. Supply and demand is taking hold. Foot traffic stats are very interesting. There has been more foot traffic this year than last year during the same time. On a national level, existing home sales are slightly down from where they were last year during the same period. This may be a reflection of inventory problems.
Orange County Update
Average Price
Average price has really taken off. There was a mixed bag of results until this year.
Units Sold
May saw the most units sold for this month since 2014. However, prior to May, this year is the first where we’ve seen more than one month at or less than the same month in previous years. There has been a steady increase year-over-year until 2018. We will continue to keep a watch on this analytic as it may be the most important indicator of when there will be a downturn.
Average Days on Market
The average days on market continues to decrease. This indicates the market is hot; a good seller’s market. For some who have been waiting a long time, now may be a good opportunity to sell their homes.
Sussex County Update
Average Price
The amount of distressed inventory (foreclosures, short sales, etc.) has stymied price growth and appreciation in Sussex. However, the average price in May of this year is the highest it has been for this month since 2014.
Units Sold.
There has been a substantial decrease in units sold, even with average price increasing and average days on market decreasing.
Average Days on Market
The average days on market keeps going down, indicating a hot market.
Market Q&A
Buyer Concerns – Price or Inventory?
Geoff Green asked Vikki Garby whether she got a sense that her buyers were more worried about current prices or not being able to find a home due to lack of inventory. Vikki responded that inventory was the biggest problem. However, once they found a home, buyers were concerned about going to contract quickly. People were getting stressed out about interest rates. Therefore, they want to get them locked in as soon as possible since rates are rising. Dan Bounds advised that their mortgage customers are able to get their rate locked in once they have a signed one-page purchase agreement.
Appraisals – On Point?
Geoff then asked Keren Goren if appraisals were coming in on point, or if there were still problems. Keren replied that appraisers were coming in on point in New Jersey. Geoff responded that in a solid, appreciated market appraisers seem to be more comfortable and confident coming in on valuation.
Inventory – Quality or Quantity?
Geoff’s question to Joyce was, “Everyone says there’s no inventory, but there are homes on the market. Is the physical nature of inventory not what buyers are looking for? Is it the condition of homes?” Joyce stated that there was not a lot in good shape in certain price points. Much is a total gut job. Buyers want what they want, and many don’t see the potential in getting a fixer-upper.
Geoff felt that money, time and ability can be a deciding factor. In addition, as a property owner himself, he knows how hard it can be to get good contractors. They’re busy, materials are costing more, and prices are coming up. Both Joyce and Keren said that they’ve seen flippers making mistakes and poor choices that are visible to buyers. Using lower grade materials, not putting finishing touches (outlets without covers, exposed wiring, etc.), they are hurting themselves in their rush to put the house on the market. The problem is then compounded by listing agents overpricing these homes.
The Luxury Home Market
There has been discussion about possible negative impact of the new tax laws on the luxury, hi-end real estate market. While too soon to know what the true impact will be, the luxury market is currently doing better on a year-over-year basis. Sales of high-end homes ($500-$750,000) are up in both Orange and Sussex Counties.
The Impact of Tax Reform on the Housing Market
Following the monthly market update, guest speaker Tom McGlynn of BDO spoke about the impact of tax reform on the Housing Market, as well as in general. The Tax Cuts and Jobs Act was signed on Dec 22, 2017, the President’s “gift” to the nation. There wasn’t time to process the impact as changes began Jan 1, 2018. The Legislation will expire for individuals on Dec 31, 2025.
Tax Rates for 2018
It had been expected that tax rates would be limited to 3 or 4 bands. However, the bands are dramatically expanded. Furthermore, there is a drop in rates from a high of 39.6% to a high of 37% in 2018, going forward. The expectation is that people with higher income levels will see a decrease in federal income tax liability.
Major Changes:
Above-the-line deductions:
Moving expense deductions: Only available for US military moving pursuant to military order. As a result, changes will impact US citizens who move for employment, whether in the US, abroad, or to the US.
Alimony: For Agreements entered into after Dec 31, 2018. the deduction for alimony or separate maintenance payments has been repealed. Furthermore, inclusion of money received for alimony as income is repealed. Existing agreements are grandfathered in.
Standard & personal exemptions: Standard deduction increased, almost doubled. Married filing jointly, is now $24,000. More taxpayers may end up claiming the standard as opposed to itemizing. Personal exemption is suspended through 2025.
Medical Expenses. Threshhold lowered to 7.5 percent from 10% for out-of-pocket expenses not covered by insurance.
Real Estate impacted regulations
State and local taxes: In our market this is the big item. Taxpayers are now only allowed to deduct a maximum $10,000 aggregate of state and local real property, personal property, and state and local income sales taxes.
Mortgage Interest: Amount of acquisition indebtedness applies to new loans. However, mortgages in place before 2017 grandfathered in up to $1,000,000 mortgage. For debt incurred after Dec 15, 2017, you can only deduct interest paid on indebtedness of up to $750,000. Furthermore, home equity interest deduction has been suspended.
Vikki asked for confirmation that limitations do not apply to real property taxes and personal property taxes paid or accrued in carrying on trade or business? Tom confirmed that this is correct; real estate traders/investors filing Schedule E are not subject to the new limits. In addition, properties held for investment are not effected by the mortgage limitation.
Changes in other deductions
Charitable contributions: Limitation on deduction for cash contributions increased to 60% of AGI. However, this cannot be in addition to Standard deduction. The deduction can only be taken if the taxpayer is itemizing. It is not known how or if this will affect charitable giving.
Casualty losses: Suspended through 2025, unless loss is attributable to a Federally declared disaster area.
Wagering Transactions: Limited to income offsetting expenses.
Miscellaneous itemized deductions: Suspended through 2025. Includes unreimbursed business expenses, investment fees, tax prep fees.
Pease limitation suspends limitation on itemized deductions. For 2018-2025, no limitation on itemizations exceeding standard deduction.
AMT (Alternative Minimum Tax): Put in place to make sure taxpayers weren’t able to reduce their tax liability by utilizing certain itemized deductions (income taxes, real property, state and local taxes) due to income. Congress minimized Corporate AMT. The individual AMT was expected to be eliminated. However, Congress decided to keep it in place but significantly increased exemption amounts and thresholds.
Selling Your Home – Tax Basics Relating to Closing Disclosure Statement
Nothing changes regarding home sale rules if you can show you owned and used home for principal use 2 out of 5 years. Hence, the first $500,000 of gain is exempt from federal and state tax. Basis is the amount home is worth for tax purposes. This includes what you paid for home, improvements, closing costs, etc. However, current year deductions may be subject to limitations.
The above are just highlights of the discussions and presentation. You can watch the entire video here.
We Keep You Informed:
The Green Team Shares this information and more each month during our Live Housing Market Update. Register to join the webinar and hear directly from our participating Green Team Sales Associates who share their personal take on how the marketplace is doing.
Industry experts join us each month to share insights into the currently financing environment, as well as broader economic issues affecting the housing market.
Check out our past Housing Market Updates. Then Register to get our Housing Market Updates.
The Green Team Welcomes James House, Chris and Megan Kimiecik and Kristine Many
The Green Team welcomes James House, Megan Kimiecek and Kristine Many to the company. Each brings unique skills and experience to the Green Team family.
James House
James House became interested in pursuing a career in real estate while helping a family member sell his home and finding that he enjoyed the whole process. He also found that his background in sales, construction and social media marketing enhanced his ability to provide exceptional service to his clients.
Born and raised here, James knows not only Warwick but Orange and Sussex Counties. Besides his hands-on experience remodeling homes, he has also developed a network of contractors that he can recommend to buyers who may want to make improvements to their new home, or sellers who want to do some renovations prior to putting their home on the market.
Chris and Megan Kimiecik
Chris and Megan Kimiecik are a team. Married for 11 years, they spent the past 9 years buying and rehabbing properties throughout Orange County, while raising their three daughters, aged 3, 5 and 8. And now, as licensed real estate sales associates, they continue to work together.
Megan is a nurse working per diem in the Warwick Valley School District and Chris runs a busy landscaping business. But, no matter how busy their lives are, this team provides exceptional service to their real estate clients.
Kristine Many
Kristine (“Krissy”) Many sees herself as a Real Estate Consultant, not selling, not pushing. She is there to answer her clients’ questions and help them through the process. Krissy realizes that every transaction, every client is individual, no two the same. Sometimes she is called upon to act as life coach, or mom, or confidant or teacher. Each client is her #1 client, and her clients often become friends.
Krissy has some very important advise for sellers. Whether they want to move or have to move, it’s an emotional time. They need to disconnect and remember… sell the house, buy the home. She also has a word of caution for buyers. Never discuss important issues in the house. A bad experience with a nanny cam when she was looking at homes in Oklahoma taught her that the hard way.
Krissy loves the satisfaction of matchmaking people with what they need. She loves problem solving and making things happen. Learn more about Krissy on her webpage.
Excitement is building at Green Team New Jersey Realty
Excitement is building at Green Team New Jersey Realty, which launched in September of 2016. In less than two years it has become one of the top 20 real estate agencies in all of Sussex County. Furthermore, it is now one of the top 5 agencies in Vernon. Its formula for success is simple. Follow the systems and training set up by Geoffrey Green, founder of the Green Team Home Selling System in Warwick, New York and a partner in the New Jersey Office. Then put together a dynamic team of realtors who take to heart the Green Team’s commitment to exceed client expectations.
JOYCE ROGERS – FIRST QUARTER SALES LEADER, GOING FOR BROKE(R)
For Joyce Rogers, the first quarter of 2018 has shown what can be accomplished when someone sets a goal and keeps going until it’s achieved.
Joyce became the Sales Leader at Green Team New Jersey Realty for the first quarter of 2018. For Joyce, there is a great deal of personal satisfaction in joining the ranks of those who taught her. And, in this case, surpassing their sales. It has meant a lot of hard work, something Joyce is used to. She makes herself available to her clients whenever they need her. She appreciates the ability the Green Team affords to be able to work from wherever you are. She’s even closed a deal in Shoprite’s parking lot. Joyce feels she is hitting her stride and, while this is her first time achieving this goal, it is most likely not her last.
What makes Joyce’s achievement even more laudable is that she was going for her broker’s license at the same time. She began in December 2017, taking classes twice a week and studying hard and in March got her broker’s license on her first try!
Geoff Green describes Joyce as “driven,” and as someone he knows can make happen whatever she wants. Joyce appreciates Geoff’s support and his vision of the telecommuting model, as well as the camaraderie that sales associates have with each other. They work well together and help each other. And we applaud and congratulate Joyce on her double achievement, looking forward to seeing what comes in the future.
Meet Jared Kunish
Every new sales associate who joins the Green Team brings a unique background and skill set. And Jared Kunish is no exception. With his background as a hedge fund trading manager, Jared’s professional knowledge of 
interest rates and housing market trends was a definite plus. But Jared was looking for more than the fast-paced, stress-filled life he’d been living in the financial world. Rather, he was looking for a quality driven life. One to share with his three children. He began following his passions, expanding his knowledge base. Woodworking, making furniture with his own hands, helped ground him. So did being an amateur chef.
Becoming a real estate sales agent in Sussex County and a resident of Crystal Springs seems like a natural progression to Jared. He’s far away from the rat race. And he enjoys working with people, helping them find the place that will bring them happiness. Jared enjoys making things as easy as he can for his clients
Orange County Real Estate Market Report for April 2018
Green Team Business Review – April 2018
There has been a lot of excitement at the Green Team lately. Much of it was generated by the Launch Competition, which was a tremendous success this year. You can read about this annual contest, its goals, the winners and the prizes here. Then Lucyann Tinnirello was selected as the new Broker Manager of the Warwick office. In addition, Nancy Sardo was named the recipient of the First Quarter Sales Leader Award in Warwick.
Making Market Updates More Informative and More Accessible
While it seems that would be enough to report, there’s more. The Green Team strives to bring its agents and its clients up-to-date market information as well as insight into the mortgage market, events that impact interest rates, and more. To provide all this information in an expanded, far-reaching format, the Green Team is going Live on Facebook.
Orange County, NY Real Estate Market Report – March 2018 Results
We are pleased to share with you the Housing Market Report for March 2018. We break down local real estate activities and provide you with stats, graphs, and analysis of our local and regional real estate market. The April Market Update was held Tuesday, April 17 on Facebook Live. It was moderated by Geoff Green, the Broker/Manager of Green Team Home Selling System. Panelists included sales agents Vikki Garby and Jacqueline Kraszewski. In addition, Jeremy Miller of First Home Bank provided insights on mortgage and housing industry stats. Dan Habib, of MBS Highway, a firm that provides insight and analytics to industries, discussed where interest rates are headed and the topic of affordability. Watch the video on our Facebook page to hear what these experts had to share.
Also, you can sign up on the Green Team website to receive a monthly update by email.
Average Days on the Market
The faster homes are selling, the hotter the market. Look for the lowest number on the graph, as opposed to the highest. The calculation in New York State is from the List Date to the Contract Date.
We take a snapshot of the past 5 years and see how the current market compares. The average number of days on the market is the lowest it’s been for March since 2014. This shows a stronger market for sellers. However, it’s not the best news for buyers.
Average Price
Prices have not been on the comeback for some time, but last June they started to rise and are now coming out of the gate significantly higher. According to Geoff, inventory continues to be a big problem. He thinks that one of the issues is that some sellers still can’t get out of their homes based on refinancing they did ten years ago. They just can’t sell until prices rise, and he believes that will be the key to unlocking inventory.
Jacqueline stated there are just not enough houses out there to show. The average length of time that most people stay in a house is ten years, and ten years ago was when the market really crashed. Some people are still underwater and either can’t get out, or don’t want to just break even; they’d like to make a profit.
Vikki added that this year some things are helping. Last year appraisals were hurting the market. This year they seem to be getting more realistic based on what is actually happening in the market. There is very little supply for the demand. Market traffic was higher in February 2018 than it was in May of 2017. Sellers are feeling their strength and power in this market. Even banks are seeing the market potential and wanting to get in on the act, raising prices on properties they would have sold at much lower prices in previous markets. Vikki has experience in real estate investing, flipping homes, etc., so she brings a valuable perspective to the conversation.
Geoff mentioned that some banks are even holding their position in inventory and renting out units, something which is highly unusual. Banks generally unload inventory. For them to hold and rent is almost unheard of.
Average Sold to Asked Ratio
The percentage a house sold for under or over the last asking price (not the original price).
The higher the percentage, the hotter the market. Again, March 2018 is outpacing the last 4 years, with sellers negotiating approximately 3.5 points off their last asking price. It’s important to remember that this is an average of all Orange County; in some areas the percentage will be higher and in others, lower.
Homes that sold at 100% or more of last asking price
Again, the numbers continue to rise. March 2018 is the highest it’s been since 2014, with almost 35% of homes going for 100% or more of the last asking price. In other words, expect bidding wars!
Units Sold
There hasn’t been a dip from the previous year in many years. However less homes were sold in March than in previous years. Vikki felt that people closing in March were closing on those deals made in December and January, when inventory was way down.
Jacque stated that the market is hard on people starting out, those buyers in the under $300,000 range. There is not much available at that price point, and if there is something, it’s usually a total handyman special, which people don’t want!
Geoff agreed that currently, couples are usually both employed and don’t have the time, expertise or inclination to start making repairs and remodels to the home they purchase. They would rather pay top dollar for a move-in-ready home. His advice for sellers: spend time renovating your home before putting in on the market. Bathrooms, kitchens, windows all need to be in good shape. Paint, new siding, fixing up the landscaping, and replacing the roof if necessary, will bring a good return on your investment. Buyers are willing to pay top dollar!
Next Market Update
Mark your calendars and join us on Tuesday, May 8 at 9:15 a.m. for our next Facebook Live Market Update. Our special guests will be Michael Giannetto of Residential Home Financing, who will be offering substantive updates on the mortgage market and Ken Ford of Warwick Valley Financial Advisors, who will discuss other economic factors impacting the housing market. If you can’t make it at 9:15, be sure to watch it later!
Meet Lucyann Tinnirello, the new Broker Manager of Green Team’s Warwick office.
Why a broker manager?
With his business expanding and taking most of his time, Geoff Green knew it was time to hand over the reigns of day-to-day management of the Green Team’s Warwick office to a new broker manager. Furthermore, he understood it would take someone special to do the job.
First of all, the perfect candidate would have to be experienced in real estate and able to handle the detailed management of the office. In addition, the candidate would have to be someone who was not ego driven. Finally, it would take someone able to work with a growing team of agents to solve problems and help them succeed in their businesses. Fortunately, the perfect candidate was already a member of the Green Team family.
Meet Lucyann Tinnirello, the perfect candidate…
Green Team Home Selling System is happy to welcome Lucyann Tinnirello as its first Broker Manager. With 34 years of experience, Lucyann knows the business inside and out. Thus, she understands that real estate is mostly about solving problems and developing relationships.
Lucyann sees the Broker Manager position as being an opportunity for caring, helping, resolving problems and promoting an atmosphere of teamwork, where agents share with their co-workers what their experiences have taught them. However, she also understands there will be challenges. In managing workflow, she knows she must practice neutrality, as well as empathy and efficiency. She feels well prepared to take on the responsibilities of this position, having been co-owner of her own firm. There is a motto that Lucyann lives by: “It’s nice to be important, but it’s more important to be nice.” Her fellow agents agree that Lucyann embodies this motto and is the person who can handle this job. She is both well liked and respected by her peers.
A message for Lucyann’s clients…
By the way, Geoff has a message for Lucyann’s clients. “Fear not! Lucyann will continue to list and sell homes! This position was designed for an active sales person, with support staff and systems providing back-up for the Broker Manager.”
One more word of wisdom…
Lucyann has one more bit of wisdom to live by. Football coach Lou Holtz said this at a seminar and she’s never forgotten it. “WIN…” or “What’s Important Now!” And for Lucyann, what’s important now is doing the best job she can as the Green Team’s new Broker Manager.
Winning Your Own Race
2017 Green Team Momentum BuilderAward
This is a very special award, given to the Green Team Sales Associate who has created the most positive and consistent momentum in their professional career and personal life.
The 2017 Momentum Builder Award was presented to Tammy Scotto of the Green Team’s Warwick Office. Just as Tammy persevered in both her professional and personal life, Geoff Green persevered in his belief in her. To Geoff, it’s all about the journey, and about not giving up, no matter where the road takes you. According to Geoff, there are three components to success in the real estate business: time, intellect and persistence. Seems like sometimes the three may not align in the beginning. But, as in Tammy’s case, the intellect was there, her persistence paid off and eventually she had the time to put into her real estate career.
Tammy’s Story – In Her Own Words
“Firstly, I want to say thank you to Geoff for giving me this award this year. I really do appreciate the acknowledgment. There are MANY other agents here at the Green Team that deserve to be standing up here right along with me, so thank you. When Geoff called to tell me he wanted to honor me with this award, he said he was really thinking about the year and was going to talk about “Overnight Success.” I said to him, “Are you sure you want to give this award to me? I’ve had my license for 19 years!”
19 years ago I got 2 licenses. One was my Real Estate license, the other my marriage license. I’m happy to say both are in full effect and going strong today. But, as many of you know, this means I have been selling real estate through all stages of family life. I was selling as a mom with infants, toddlers and now teenagers. I am anything but an overnight success. Yet for me, that worked. My marriage and my family were and are number one in my life. But the reason I stuck it out with real estate is because it’s the only job I know that allows you to control your own schedule. We can turn it on and off as life requires. Lord knows we work all hours of the night and weekends. Yet we can also schedule around volunteering in school, sports events and other activities.
And the rest is history!
I’ve learned a LOT over these past 19 years. But, to be honest, I’ve learned the MOST the past 4 years. Four years ago I was selling real estate (very part-time) and working another job. Finally, I thought maybe I should just let my license go. The company I was with was going to start charging a monthly fee that I was not willing to pay. So I thought about it and was just going to get out of the business. My husband said, “Don’t do that, you’ve had it this long, maybe look at other options”.
So after a phone call to LucyAnn [Tinnirello] which led to a phone call from Geoff Green, the rest is history. In 2015, Geoff, LucyAnn, Jacque & I went to a Buffini convention in Philly and Geoff was talking about the Captain’s Club. He looked back and said, “Next year, right Tammy?” I said, “Nah, 2017.” Well, I had that gut feeling I needed that ONE extra year to get my business really going. And with all of the tools that Geoff provides for us, I learned how to really ramp up my business. It means a lot to actually have a broker that wants you to be successful and that is why you will be stuck with me for a VERY LONG TIME!!!!!
Winning your own race…
Part of the Green Team mission statement says: “A Real Estate Agent that is highly productive is more likely to deliver excellent client service than someone who is not. Couple that with a Real Estate Agent who has the time and ability to lead a meaningful life, and you have the perfect environment for an exceptional client experience.”
We’re all different and unique in this room. Some of us are go-getters right out of the gate. I was more of a Tortoise than the Hare….slow and steady… But I’m winning my personal race and wouldn’t give anything for the time I spent with my young kids. Finally, whichever one you are, make sure you’re doing it for you. I am living a meaningful life, have time to enjoy my family along the way and now I’m making a great living as well. 2017 was a great run and I’m looking forward to more years like it ahead! “
