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Why Summer Is a Great Time To Buy a Vacation Home
You may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your loved ones. Now that summer is just around the corner, it’s worthwhile to start thinking about your plans and where you want to spend your vacations this year. Here are a few reasons a vacation home could be right for you.
Why You May Want To Consider a Vacation Home Today
Over the past two years, a lot has changed. You may be one of many people who now work from home and have added flexibility in where you live. You may also be someone who delayed trips for personal or health reasons. If either is true for you, there could be a unique opportunity to use the flexibility that comes with remote work or the money saved while not traveling to invest in your future by buying a vacation home.
Bankrate explains why a second home, or a vacation home, may be something worth considering:
“For those who are able, buying a second home is suddenly more appealing, as remote working became the norm for many professionals during the pandemic. Why not work from the place where you like to vacation — the place where you want to live?
If you don’t work remotely, a vacation home could still be at the top of your wish list if you have a favorite getaway spot that you visit often. It beats staying in a tiny hotel room or worrying about rental rates each time you want to take a trip.”
How a Professional Can Help You Find the Right One
So, if you’re looking for an oasis, you may be able to make it a second home rather than just the destination for a trip. If you could see yourself soaking up the sun in a vacation home, you may want to start your search. Summer is a popular time to buy vacation homes. By beginning the process now, you could get ahead of the competition.
The first step is working with a local real estate advisor who can help you find a home in your desired location. A professional has the knowledge and resources to help you understand the market, what homes are available and at what price points, and more. They can also walk you through all the perks of owning a second home and how it can benefit you.
A recent article from the National Association of Realtors (NAR), mentions some of the top reasons buyers today are looking into purchasing a second, or a vacation, home:
“According to Google’s data, the top reasons that homeowners cited for purchasing a second home were to diversify their investments, earn money renting, and use as a vacation home.”
If any of the reasons covered here resonate with you, connect with a real estate professional to learn more. They can give you expert advice based on what you need, your goals, and what you’re hoping to get out of your second home.
Bottom Line
Owning a vacation home is an investment in your future and your lifestyle. If this is one of your goals this year, you still have time to buy and enjoy spending the summer in your vacation home. When you’re ready to get started, let’s connect.
Carol Buchanan Promoted to Broker Manager
“Carol is, and always has been, one of the most professional Realtors I have ever met. We have been blessed to have her as part of our Agency now for 3.5 years. During this time she has been nothing but a pleasure to work with. Additionally, from the moment you get to know Carol, her depth of knowledge and work ethic shine. She is going to make a fantastic Broker Manager for many years to come.”
Over 30 years of business experience
Carol brings with her a diversified real estate background. She started in real estate working for a marketing company. That company managed sales and marketing of new construction developments. While there, she earned her Associate Brokers license and became the Manager of several New Home Developments throughout Orange County and Peekskill. Once she went back to being a selling agent, she worked for both small real estate offices and large real estate corporate offices. Her work experience also includes working at the corporate headquarters of Benjamin Moore & Company as the Assistant to the Regional Director and Major Events Coordinator. Each of these positions challenged Carol to develop new skills. And it is these skills that she now brings to her new position with Green Team New York Realty.
Lucyann Tinnirello steps down as Broker Manager of GTNYR
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Lucyann Tinnirello may be stepping down as Broker Manager of GTNYR, but that is by no means the end of her Green Team story. In fact, that story began in 1984, when Lucyann started her career with Geoff Green’s father at ERA Joseph Green Real Estate. From there, Lucyann worked at several other agencies, including co-owning her own firm. When she joined Green Team in 2008, she felt as though she had come full circle. In 2018, Lucyann was elected broker manager of [what was formerly known as] Green Team Home Selling System. Now, she is looking forward to working full-time with her clients.
A message from Geoff Green…
“LucyAnn has been an asset to our office as Broker Manager since she stepped into the role in 2018. Her experience in real estate made her the perfect candidate to not only handle the details of management but also to solve problems and help agents succeed. Additionally, Lucyann always exceeded our expectations in terms of caring for everyone in our Agency. Lucyann will always take the shirt off her back to help those around her, and she did just that for many of our Agents through the years. And, now that Lucyann has decided to step down as Broker Manager she will be re-focusing her time and energy on her own real estate sales, remaining as one of our beloved Agents.”
Lucyann’s Words of Wisdom
Lucyann lives by her credo, “It’s nice to be important but it’s more important to be nice.” It’s no surprise, then, that she is much-loved by fellow agents. When Lucyann comes across a quote that inspires her, she embraces and shares it. For instance, Lucyann has another quote, with a story behind it. She considers herself lucky to have attended a motivational workshop by the legendary former Notre Dame Football Coach, Lou Holtz. And, Lucyann took to heart his words: ‘WIN – What’s Important Now!” She’ll tell you the importance of staying in the moment,
Jennifer DiCostanzo
“Kindness and compassion are Lucyann’s trademarks. She supports agents with both personal and professional growth.”
Tiffany Megna
Tiffany Megna shared some of Lucyann’s quotes. For instance, instead of saying goodbye, Lucyann says, “Be safe!” The agents have trust in LucyAnn: if someone came to her with a problem, they knew their conversation would be kept confidential. She would always conclude the discussions with ” It’s your story to tell” letting them know that it would be safe in the Lucyann vault. Tiffany and Lucyann also created their own saying, by shortening “Hello, Lucyann,” to “HiLu!” This is now a regular greeting.
Krissy Many
“When I reflect back on the time she served; I am most appreciative for her making herself available and her undying support of her agents. She always had our backs ( and if needed; told us privately what we did wrong). Lucyann was a defender! She was “Switzerland.” I appreciated her wisdom and sense of humor, and look forward to enjoying her company in the office as she has an abundance of both!! She is thoughtful and often surprised us at our breakfast meetings with tokens of love and kindness. That is just who she is…. Thoughtful, kind, funny, and supportive. I will never hear the phrases “Be Safe” and “It is nice to be important but more important to be nice!” and not think of Lucyann. Thanks to Lucyann her for her support and service. I wish her the very best in the next chapter of her business”.
Nancy Sardo
“Lucyann has a genuine, unconditional love for people. She can be defined by her ability to do her very best to make things go as smoothly as possible in this crazy world of real estate, she will be missed as our Broker Manager. However, I am sure she is going to welcome the extra time with her beautiful family and grandchildren. Be Safe Lou–Love”
Morgan Beattie
“Ever since starting at Green Team, Lucyann has welcomed me with open arms. She is the person you can go to for anything. It can be a real estate question or even life advice, Lu will always be there for you no matter what.”
A celebration to say Thank You, Lucyann!
And what better way to celebrate than Happy Hour at Warwick Thai! A group of Green Team Sales Associates gathered to say thank you on Lucyann’s last day as broker manager. Stepping up to that position is Carol Buchanan, who will be featured in an upcoming post. Lucyann proudly held up a card, which reads: “I’m not old – I’m Vintage!”
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The Largest Green to Green Residential Sale
Congratulations to Jennifer DiCostanzo as the listing agent for 30 Cardinal Lane. This magnificent home sold for $1,490,000, the largest residential Green Team to Green Team listing sale to date. Tiffany Megna represented the buyers.
Jennifer DiCostanzo
Listing and showing high-end luxury homes requires a real estate professional who understands the quintessential details the property offers, aligning to the buyer’s specific criteria. Jennifer has expertise in marketing such homes, as was the case with 30 Cardinal Lane. This magnificent home was built to provide sustainability, privacy, and luxury living, both indoors and out. By customizing marketing approaches for her selling clients, Jennifer understands the uniqueness of each property. She intuitively captures buyers’ interest with strategic strategies emphasizing the lifestyle and story these prestigious homes offer to prospective buyers- case in point 30 Cardinal Lane.
Tiffany Megna
Tiffany Megna works hard, with her goal to be better every year. A former teacher, Tiffany understands the importance of listening and understanding her clients’ needs. She has achieved designations as a Pricing Strategy Advisor, Accredited Buyer Representative, and an At Home with Diversity certification. Furthermore, she has her Seller Representative Specialist and Short Sales and Foreclosure Resource certifications. With each designation, she feels she has more to offer her clients.
A dynamic Team
The real estate market has been booming since the pandemic affected the way we live and our ideas of what a home should be. Jennifer has been working non-stop and for the 6th straight year, is GTNYR Yearly Sales Leader, as well as the Q1 Sales Leader for 2022. Tiffany, also working non-stop, is ranked 2nd in Green Team New York Realty sales for 2021.
Now take a video tour of this magnificent home and property…
For many homebuyers, the beauty of Orange County, NY, and its picturesque villages and towns provide the perfect lifestyle balance with all the recreational amenities they desire. Ultimately, this property showcases some of the best that Orange County has to offer.
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If You’re a Homeowner, You Have Incredible Leverage When You Sell Today
In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That’s because there’s a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things:
- To be the winning bid on their dream home
- To buy before mortgage rates rise more
- To buy before home prices go even higher
These buyer needs give you an amazing advantage – also known as leverage – when you sell.
What Does This Mean for Sellers Today?
You might already realize this enables you to sell at a good price, but you’re also in a great position to get the best terms to suit your needs.
According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), the average home sold is receiving 4.8 offers. That’s why there’s a good chance you’ll get offers from multiple buyers who are willing to compete for your house. When you do, you should look closely at the terms of each offer to find out which one has the best options for you.
And if you have questions at any point in the process, remember your trusted real estate advisor can help. They’re experts who understand the fine print, know how to compare the terms of various offers, and will help you select the best one for your situation.
Bottom Line
If you’re thinking of selling your home, know buyer demand in today’s market gives you a great opportunity to get the best terms and price when you sell your house. Let’s connect today to discuss how much leverage you have as a seller in today’s market.
Should You Update Your House Before Selling? Ask a Real Estate Professional. [INFOGRAPHIC]
![Should You Update Your House Before Selling? Ask a Real Estate Professional. [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2022/05/11144408/20220513-MEM-1046x2120.png)
Some Highlights
- If you’re deciding whether you should make updates before you sell your house, lean on your trusted real estate advisor to be your guide.
- In today’s sellers’ market, buyers have limited options and may be more willing to take on repairs themselves.
- If you’re thinking about selling your house, let’s connect so you have expert advice that’s customized to your home and our local area.
Give Your Curb Appeal a Boost Before You Sell [INFOGRAPHIC]
![Give Your Curb Appeal a Boost Before You Sell [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2022/04/26113243/20220429-MEM-1046x2160.png)
Some Highlights
- If you’re thinking about selling your house this season, focusing on a few quick and easy updates outside can help your home look its best.
- 78% of real estate agents polled say poor landscaping affects property values. As a seller, that means your yard could impact your bottom line.
- When getting your house ready to sell, let’s connect to discuss what you should do to make sure your house shows well and catches the eyes of more potential buyers.
How Homeownership Can Help Shield You from Inflation
If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile.
If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how homeownership can help you combat the rising costs that come with inflation.
Homeownership Offers Stability and Security
Investopedia explains that during a period of high inflation, prices rise across the board. That’s true for things like food, entertainment, and other goods and services, even housing. Both rental prices and home prices are on the rise. So, as a buyer, how can you protect yourself from increasing costs? The answer lies in homeownership.
Buying a home allows you to stabilize what’s typically your biggest monthly expense: your housing cost. If you get a fixed-rate mortgage on your home, you lock in your monthly payment for the duration of your loan, often 15 to 30 years. James Royal, Senior Wealth Management Reporter at Bankrate, says:
“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”
So even if other prices rise, your housing payment will be a reliable amount that can help keep your budget in check. If you rent, you don’t have that same benefit, and you won’t be protected from rising housing costs.
Use Home Price Appreciation to Your Benefit
While it’s true rising mortgage rates and home prices mean buying a house today costs more than it did a year ago, you still have an opportunity to set yourself up for a long-term win. Buying now lets you lock in at today’s rates and prices before both climb higher.
In inflationary times, it’s especially important to invest your money in an asset that traditionally holds or grows in value. The graph below shows how home price appreciation outperformed inflation in most decades going all the way back to the seventies – making homeownership a historically strong hedge against inflation (see graph below):
So, what does that mean for you? Today, experts say home prices will only go up from here thanks to the ongoing imbalance in supply and demand. Once you buy a house, any home price appreciation that does occur will be good for your equity and your net worth. And since homes are typically assets that grow in value (even in inflationary times), you have peace of mind that history shows your investment is a strong one.
Bottom Line
If you’re ready to buy a home, it may make sense to move forward with your plans despite rising inflation. If you want expert advice on your specific situation and how to time your purchase, let’s connect.
Why a Real Estate Professional Is Key When Selling Your House
With today’s real estate market moving as fast as it is, working with a real estate professional is more essential than ever. They have the skills, experience, and expertise it takes to navigate the highly detailed and involved process of selling a home. That may be why the percentage of people who list their houses on their own, known as a FSBO or For Sale By Owner, has reached its lowest point since 1985 (see graph below):
Here are five reasons why selling with a real estate professional makes more sense, even in today’s hot market:
1. They Know What Buyers Want To See
Before you decide which projects and repairs to take on, connect with a real estate professional. They have first-hand experience with today’s buyers, what they expect, and what you need to do to make sure your house shows well.
If you don’t lean on their expertise, you may spend your time and money on something that isn’t essential. That’s because, in today’s low-inventory market, buyers are willing to take on more of the renovation work themselves. A survey from Freddie Mac finds that:
“. . . nearly two-in-five potential homebuyers would consider purchasing a home requiring renovations.”
A professional can help you decide what you need to tackle. It’s not canned advice you could find online – it’s recommendations specific to your house and your area.
2. They Help Maximize Your Buyer Pool
Today, the average home is getting 4.8 offers per sale according to recent data from the National Association of Realtors (NAR), and that competition is pushing prices up. While that’s promising for you as a seller, it’s important to understand your agent’s role in bringing buyers in.
Real estate professionals have an assortment of tools at their disposal, such as social media followers, agency resources, and the MLS to ensure your house is viewed by the most buyers. According to realtor.com:
“Only licensed real estate agents can list homes on the MLS, which is a one-stop online shop of sorts for getting a house seen by thousands of agents and home buyers. . . . This is certainly one of many good reasons why the majority of home sellers decide to employ the services of a listing agent rather than going it alone.”
Without access to these tools, your buyer pool is limited. And you want more buyers to view your house since buyer competition can drive your final sales price higher.
3. They Understand the Fine Print
Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. That’s why Investopedia says:
“One of the biggest risks of FSBO is not having the experience or expertise to navigate all of the legal and regulatory requirements that come with selling a home.”
A real estate professional knows exactly what needs to happen, what all the paperwork means, and how to work through it efficiently. They’ll help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own.
4. They’re Trained Negotiators
If you sell without a professional, you’ll also be solely responsible for all the negotiations. That means you’ll have to coordinate with:
- The buyer, who wants the best deal possible
- The buyer’s agent, who will use their expertise to advocate for the buyer
- The inspection company, which works for the buyer and will almost always find concerns with the house
- The appraiser, who assesses the property’s value to protect the lender
Instead of going toe-to-toe with all these parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.
5. They Know How To Set the Right Price for Your House
If you sell your house on your own, you may over or undershoot your asking price. That could mean you’ll leave money on the table because you priced it too low or your house will sit on the market because you priced it too high. Pricing a house requires expertise. Investopedia explains it like this:
“. . . There is no easy or universal way to determine market value for real estate.”
Real estate professionals know the ins and outs of how to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your house. These factors are key to making sure it’s priced to move quickly while still getting you the highest possible final sale price.
Bottom Line
There’s a lot that goes into selling your house. Instead of tackling it alone, let’s connect so you have an expert on your side throughout the entire process.
