Buying a home September 3, 2020

Homebuyer Demand Is Far Above Last Year’s Pace

 

Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you’ve been thinking about selling your house, the coming weeks might just be the timing you’ve been waiting for.

According to the Pending Home Sales Report from the National Association of Realtors (NAR):

Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth.

The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 5.9% to 122.1 in July. Year-over-year, contract signings rose 15.5%. An index of 100 is equal to the level of contract activity in 2001.”

This means that for the past several months, buyers have signed an increasing number of contracts to purchase homes – well above where the market was at this time last year. Lawrence Yun, Chief Economist at NAR notes:

“We are witnessing a true V-shaped sales recovery as homebuyers continue their strong return to the housing market…Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”

Below is a graph that shows the impressive recovery of homes sales compared to previous years. The deep blue v marks the slowdown from this spring that turned into an exponential jump in sales that followed through the summer, skyrocketing above years past:Homebuyer Demand Is Far Above Last Year’s Pace | MyKCM

What Does This Mean for Sellers?

If you were thinking about putting your house on the market in the spring, but decided to wait due to the health crisis, it may be time to make your move. Buyers are in the market right now. With so few homes available to purchase, homeowners today are experiencing more bidding wars, creating an optimal time to sell.

Is This Trend Going to Continue?

As CNBC notes, there are no signs of slowing buyer demand this fall:

The usual summer slowdown in the housing market is not happening this year. Buyers continue to show strong demand, spurred by the new stay-at-home world of the coronavirus and by record low mortgage rates.”

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

“In a typical year in the housing market, buyer interest begins to wane before seller interest causing the usual seasonal slowdown as we move into the fall. Due to a delayed spring season and low mortgage rates, we could see buyer interest extend longer than usual into the typically quieter fall. Whether this means more home sales will depend on whether sellers participate or decide to stay on the sidelines.”

As Hale mentioned, homeowners who are willing to sell their houses right now will play a big role in whether the trend continues. The market needs more homes to satisfy ongoing buyer demand. Maybe it’s time to leverage your equity and move up while eager home shoppers are ready to purchase a house just like yours.

Bottom Line

If your current home doesn’t meet your family’s changing needs, connect with one of our Sales Agents to help you sell your house and make the move you’ve been waiting for all year.

Agency News and Awards August 30, 2020

Edward Sattler receives CIREC designation

[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.0.47″][et_pb_row admin_label=”row” _builder_version=”3.0.48″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″ parallax=”off” parallax_method=”on”][et_pb_text admin_label=”Text” _builder_version=”3.0.74″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]Green Team New York Realty is pleased to announce that Edward Sattler has received his Commercial and Investment Real Estate Certification (CIREC).

According to Ed,

“I’ve been interested in commercial real estate for years. I enjoy working with clients and understanding their needs. Most importantly, I want to help them achieve their real estate goals, whether as buyer, seller, landlord or tenant.”

Ed’s start in real estate

When Ed says he has been interested in commercial real estate for years, you can believe it. His passion for real estate was first recognized by his parents when he was in fourth grade. By age 12, junior working papers in hand, he was saving for a down payment. Ten years later, Ed and his wife had purchased land and completed construction on their first home in Warwick. Furthermore, ten years after that, they had completed a minor subdivision and built 2 more houses.

What the CIREC designation means

According to the NAR Code of Ethics, agents must have the proper training for specialized services. Agents undertaking the extensive CIREC course obtain the needed foundation to provide commercial and investment real estate services.  A wide range of topics are covered. Included are tax implications, 1031 Exchanges, valuing property, and more.  Also covered, preparation of financial analyses, and comparing financial impacts of leasing vs. buying. Furthermore, negotiating concepts and tactics are important parts of the course.

 

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Agency News and AwardsAgent Tips August 29, 2020

WHY HAVING A MENTOR CAN MAKE ALL THE DIFFERENCE

Green Team Realty’s Mentor Program

When asked why they joined the Green Team, many sales associates cite the company’s exceptional training programs.  There is an ever-growing library of video training sessions, as well as tech training and practice sessions. Education is an ongoing part of the Green Team.   However, one of the most popular training programs is the Mentoring Program.

How the mentor program came into existence

Like many great ideas, this one had humble beginnings.  Geoff Green says that the match that lit the fire was when one of his more experienced agents came to him. He told Geoff, “You have got to start training all these new agents because they keep bothering me!”  Geoff replied, “You’re right!  I do.” Thus, the mentoring program was born.

It was not without growing pains.  There were lots of mistakes and missteps in the beginning, but since 2010 it has blossomed and evolved into a well-oiled machine. There are rules, responsibilities, and expectations for both mentor and mentee. It was important to make the program manageable for mentors and to make sure they were well paid for their time and effort.  Most importantly, new sales associates entering into a mentoring arrangement benefit from real-life learning, day in, and day out.

The program benefits both Mentee and Mentor

The program works so well because it does provide benefits to both parties. A mentor provides time, experience, and knowledge. Mentees compensate their mentors according to the terms outlined in the contract they enter into. The mentor’s responsibilities are designed to offer mentees the knowledge and support they need to successfully do a transaction from beginning to end. For many of those entering into a mentor/mentee agreement, the end result is lasting friendship and mutual support.

Hear from some of the Sales Associates involved in the program

Probably one of the best ways to learn about the program is from those involved in it. Some started out as mentees and are now mentors. Dean Diltz in the Warwick office is very enthusiastic about the program.  He came from a marketing background and when he started with the Green Team, Lucyann Tinnirello became his mentor. She showed him the ropes, helped him get up and running the Green Team way. They became friends and, even while her “student” now mentors sales associates himself, he still goes to her for advice.   Dean advises new agents, as well as those coming from other offices, to work with a mentor.

Vikki Garby started with another agency in 2014 and received no training.  The following year she was recruited and mentored by Green Team’s Tammy Scotto. In addition to the mentorship, Vikki found that the Green Team provided video tutorials and how-to’s on every aspect of real estate.  She was highly motivated and dove into the videos and into shadowing Tammy, learning from every transaction. According to Vikki, if you work the mentorship program, it works for you. The tools are there, and if you use them, you’ll be successful.  If you’re highly motivated, following your mentor around for a few months should give you enough confidence to go out on your own.

Mentoring at Green Team New Jersey Realty

When Green Team New Jersey Realty opened its doors in September 2016, the mentoring program began there, too. One of the first teams was Keren Gonen, mentor and Alison Miller, mentee According to Geoff, Alison began “tearing it up!” Keren says that Alison had the drive to succeed, and that made it easy to work with her. And Keren enjoyed the satisfaction that came from contributing to someone’s success.  As far as Alison goes, Geoff pushed for her to join the mentoring program as soon as she came on board with the Green Team. He said it would help her through every step of the way and so she signed up.  While she liked doing a lot of things on her own, she was not afraid to call on Keren, who was always available when she needed something, including being there for her first closing. According to Alison, anyone new to the business needs the program.  And, it’s always good to have that back-up.

Agency News and Awards August 28, 2020

Meet Ryan Fisher

Chapter One: How Ryan met Geoff

Ryan Fisher comes to the Green Team with a distinction that no other sales associate can claim. Ryan and Geoff Green went to the University of New Hampshire together. After college, they worked together in the mall industry. That’s when Geoff recruited Ryan to Pyramid Management Group. Ryan was a top-performing specialty leasing representative at Palisades Shopping Mall. Within two years he grew to be in the top four producers in the company. During his time with Pyramid, Ryan honed skills and techniques that he uses to this day. He learned how to canvas and generate leads. He also learned the art of follow-up and setting appointments. Most importantly, he learned how to close. Ryan also developed the habit of setting goals and acquiring the positive mindset it takes to accomplish them.

Chapter Two: New England, Taxis, then Real Estate

Ryan decided to return to New England. For 12 years he owned and operated a taxi company on Martha’s Vineyard. It was here he learned to run a business from start to finish. Using connections from his university days, he hired students to work each summer. Furthermore, many of them returned to work for multiple summers. He grew the business acquiring a second medallion. This allowed him to operate in two towns with a fleet of 12 vehicles.

Somehow, during this time, he also managed to get his real estate license in Massachusetts. When it came time to buy, Ryan was able to negotiate a seller-financed deal to buy the mixed-use property he ran his business out of. After the purchase, Ryan developed the property by replacing the not-to code garage with a commercial garage with an apartment on top. He eventually sold the taxi medallions, but still owns the property and rents both the commercial and residential units out.

Chapter Three: Ryan and Geoff, Together Again!

Once again, Geoff and Ryan began collaborating on a business idea. Geoff pitched the idea of REALLY – The Business Referral Exchange™. Referrals within real estate are fragmented. REALLY offers Business professionals the chance to network and grow their business. Ryan was intrigued. He had always thought real estate would be a good fit. Ryan loves working with people and enjoys the challenges that come in this field. He was also eager to play a part in helping REALLY grow. Furthermore, It seemed a natural fit to join the Green Team.

Ryan is currently licensed in both Massachusetts and New York. He is happily married with two children and a dog named Mona. Ryan and family moved from New England to Warwick. Ryan brings to his real estate business a unique and extremely relevant skillset. He also brings his love of music, drumming in particular. Of course, Ryan and Mona the dog enjoy hiking and outdoor activities.

Buying a home August 20, 2020

Home Insurance Myths and Misconceptions

Geoff Green, President of Green Team Realty, and Garret Durland of Seely & Durland Insurance presented a webinar on myths and misconceptions people have about Home Insurance.  Also joining the conversation were Michelle Dixon and Brianna Smith of Seely & Durland. This local insurance agency has been an important part of Warwick since 1934. Presented live on Facebook Thursday, August 13, the information they shared is important to all homeowners. If you were unable to catch it on Facebook Live, you can view the webinar here. In addition, below you’ll find a summary of some of the topics discussed.

Home Insurance.  Can’t Live with it. Can’t live without it!

Three out of five homes are underinsured. There is a misconception between market value and insurable replacement cost. A difference exists between what the home sells for versus what it costs to rebuild a home. Thus, replacement cost often exceeds market value.

Common Home Insurance Exclusions

Learn what the most common exclusions are. Also, learn about specific coverage available for some of these exclusions. It’s interesting to note that flood losses can include damage from a broken water main (surface water entering a home).

Home Insurance to cover Home Businesses

With more and more people operating a business at home many lack coverage, leaving them financially exposed. There are options available to provide needed coverage. There is also coverage available for “businesses” by kids. For instance, snow shoveling, landscaping or lawn mowing for neighbors.

High-Value Items

The standard homeowner’s insurance policy provides coverage up to a set amount for lost or stolen valuables. However, high-value items can be covered on a floater based on their appraised value. This includes jewelry, furs, guns, coins, watches, etc.

Fallen Trees Coverage

A tree falling on your property is only covered if it does damage to a structure or blocks your driveway.  There have been many storms impacting our area. Therefore, it’s important to understand the limits of your Home Insurance coverage.

Personal LIability

Did you know that if your child slanders someone on social media, that may become a situation requiring personal injury coverage? A reminder that people must be careful about what they are posting online. Personal injury coverage can be added to your Home Insurance policy An umbrella policy is an excess liability policy. It provides coverage over the limit on your home, auto, etc.

Answers to often-asked questions/Ending on a positive note.

Something most homeowners wonder about is the effect of filing multiple claims. Also of interest, what if you do Airbnb, HomeAway, or VRBO. How are these being covered by insurance companies?  In addition, what impact does your credit score have on premium rates? Find the answers in the webinar. Most importantly, there are ways to save on Home Insurance. Check out the tips discussed to see if you qualify for savings. Finally, view the informative follow-up discussion with Geoff Green and Garrett Durland,

Contact Information

Seely & Durland Insurance is located at 13 Oakland Avenue, Warwick NY. Their direct line is 845-986-1177. You can also visit their website at seely-durland.com.

 

 

 

 

 

Agency News and Awards August 10, 2020

Krissy Many Receives Military Relocation Professional Certification

 

Krissy Many of Green Team New York Realty has achieved Military Relocation Professional (MRP) Designation. This certification prepares real estate professionals to work with current and former military service members. Importantly, the course addresses finding the right housing solutions and taking full advantage of military benefits and support.

NAR’s Military Relocation Professional Certification

When military staff and their families relocate, the services of a real estate professional who understands their needs and timetables makes the transfer easier, faster, and less stressful. This certification focuses on educating real estate professionals about working with current and former military service members to find the housing solutions that best suit their needs and take full advantage of military benefits and support.  Course participants learn to provide the real estate services, at any stage in the service member’s military career, that meet the needs of this niche market and win future referrals. In addition, participants hone their knowledge and skills to work with active-duty military buyers and sellers, as well as veterans with the NAR’s Military Relocation Professional Certification.

When asked why she decided to obtain this certification, Krissy replied:

“Veterans and their families do what they do so we can do what we do in comfort and safety. I sought this designation so that in some small way I can show my support for our military.  Maybe, just maybe, I can make their relocation and home selection a little easier and smoother. The benefit of this training and designation is that I will speak and understand their language as well as their time frames. Military personnel speak a language all their own and it is full acronyms! Their needs, timing and challenges are unique to them.  I understand these factors and can be a source of information, guidance and support to our military families in their real estate needs.”

NAR Military Relocation Professional

 

Agency News and Awards July 22, 2020

Green Team Realty’s 2nd Quarter 2020 Sales Leaders

Congratulations from Geoff Green, President of Green Team Realty, to our 2nd Quarter Sales Leaders.

Geoff Green, President of Green Team Realty, was proud to announce the 2nd Quarter 2020 Sales Leaders. They are Chris Kimiecik of Green Team New York Realty in Warwick NY, In addition, Carol Buchanan was second and Terry Gavan, third.  Keren Gonen is 2Q Sales Leader for Green Team New Jersey Realty, located in Vernon NJ, with Charles Nagy and Ted Van Laar in second place, and Pam Zachowski in third.

Chris Kimiecik, Green Team New York Realty 

Geoff had the following to say about Chris’s achievement:

“Chris Kimiecik is a shining example of “success begets success.”  Here is a guy who runs one of the most successful landscaping companies in Orange County and yet he finds time to not only become a Realtor, but to be very successful at doing so.   Chris will be the first one to point out that he couldn’t do it all without the support of his wife Megan who plays an integral role in his Real Estate business.  This is the first Quarterly Sales Leader award for Chris, but I am certain that there will be more.  Congratulations Chris and Megan!”

Chris on being 2Q Sales Leader

“Our clients, my wife and real estate partner, Megan, and the support of The Green Team “Warwick” all played a part on this journey to Q2 sales leader. Through diversified businesses that integrate with each other, and our partnership with the Green Team, we are able to offer an unmatched experience. When you surround yourself with the right people and team, anything is possible.  We look forward to working with you, your friends, your family and anyone considering buying or selling a home in Warwick NY and surrounding area.”

Keren Gonen, Green Team New Jersey Realty

Geoff said the following about Keren’s latest achievement:

“If it wasn’t clear before, it should be abundantly clear to everyone now that Keren Gonen is going to top the production charts in her market territory for many years to come.  No one works harder and cares more for her clients then Keren.  We are extremely blessed to have Keren as part of Green Team New Jersey Realty.  Congratulations Keren, and keep up the good work!”

This is not Keren’s first time as a Sales Leader. This is her third time as Quarterly Sales Leader. And in 2017, the year Keren started at Green Team New Jersey Realty, she was Yearly Sales Leader.

Keren on being 2Q Sales Leader

Keren had this to say about her latest achievement:

“I am very grateful to be the Second Quarter Sales Leader!  2020 started out really well for me in the Real Estate Market as it did for many others.  I contribute this to the networking group I am a part of (Referral Roundtable), my involvement in the Community, and my overall work ethic. I am that agent that gets up at 5 am to finish paperwork and still is out with clients late in the evening. This Pandemic that has aggressively changed all of our lives, also changed the Housing Market.  Like many others, working during COVID-19 means that I was able to assist clients running away from The City and into “The Country.”  Working seven days a week, coordinating showings during Corona, along with inspections, appraisals, and being mindful of how cautious we all must be during this process meant that I was able to help more people get into new homes.  Although Real Estate Agents were not deemed “Essential Workers” and thank God for those people who put their lives on the line every day and continue to do so, I believe that Real Estate Agents made the mass exodus from NYC possible for many people that were hopeless and quarantined.  This made us Agents essential to those people seeking a different way of life.”

Agency News and Awards July 14, 2020

Welcome James (Jimmy) Colgan

The Green Team is proud to announce that James (Jimmy) Colgan has decided to join our Warwick, NY team.

James has been a resident of Warwick for 15 years and is in the process of owning a townhome in New Jersey. James spent 2 years doing Real Estate in New York City but has decided to join our team because of the small, friendly, and helping atmosphere. He loves the experience of being able to help others find a new home and making the process easy for them!

Please Welcome James (Jimmy) Colgan to Green Team New York Realty!

Buying a home July 7, 2020

Is the Health Crisis Driving Buyers Out of Urban Areas?

The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban or rural life (less congested). The fascination with an open floor plan seems to be fading as people are finding a need for more privacy while working from home.

Recently, news.com released a report that revealed how buyers’ views of listings are leaning heavily to more suburban and rural properties. Here are the year-over-year percentage increases in views per property type:

  • Urban – 7%
  • Suburban – 13%
  • Rural – 16%

In the report, Javier Vivas, Director of Economic Research for realtor.com, gives these numbers some context:

“This migration to the suburbs is not a new trend, but it has become more pronounced. After several months of shelter-in-place orders, the desire to have more space and the potential for more people to work remotely are likely two of the factors contributing to the popularity of the burbs.”

Realtor Magazine also just reported that the desire to move is strongest in our city markets:

“Nearly 30% of respondents living in a high-density urban area say that the pandemic is prompting them to want to move by the end of the year…This is more than double the rate of those living in rural parts of the country, where residents are much more likely to stay put rather than to relocate.”

New Construction Also Seeing a Surge in Views

Since the pandemic has altered how consumers think about floor plans, builders are anticipating how future homes will change. In a recent press release by Zillow, it was explained that:

  • Builders believe as people spend more time at home during the pandemic, buyers are realizing which features of their homes are working and not working.
  • Homebuilders predict open-concept floor plans will be a thing of the past, as people now value more walls, doors, and overall privacy.
  • New construction, which offers the chance to personalize home features, saw its listing page views grow by 73% over last May.

The Virus is Even Impacting the Luxury Second-Home Market

It appears that COVID-19 is impacting the luxury market too. In an article released last week titled, Luxury Buyers Return to Market in Force, Danielle Hale, Chief Economist for realtor.com reported:

“Stay at home orders and social distancing have put a new value on the extra space. We’re seeing this in the luxury market as well, which could mean there is renewed interest from high-end buyers to find a second-home that is within driving distance from their primary residence.

Much like the suburbs are gaining favor with home shoppers, second home markets are seeing increased interest from luxury buyers…Views of luxury properties accelerated 56% in The Hamptons, 28% in Palm Springs and 24% in Greenwich compared to January trends.”

Bottom Line

It appears that a percentage of people are preparing to leave many urban areas. Some of these moves will be permanent, while others will be temporary (such as a getaway to a second home). In either case, many consumers are on the move. Our Sales Agents are ready and willing to help in any way they can.

Selling a Home July 1, 2020

Think You Should For Sale By Owner? Think Again [INFOGRAPHIC]

Think You Should For Sale By Owner? Think Again [INFOGRAPHIC] | MyKCM

Some Highlights 

  • For Sale By Owner (FSBO) is the process of selling real estate without the representation of a real estate broker or real estate agent.
  • According to the National Association of Realtors’ Profile of Home Buyers & Sellers, 35% of homeowners who decided to FSBO last year did so to avoid paying a commission or fee. But, homes sold with an agent net 6% more than those sold as a FSBO according to Collateral Analytics.
  • Before you decide to take on the challenge of selling your house on your own, let’s connect to discuss your options.