Buying a homeSelling a Home March 26, 2021

Buyer & Seller Perks in Today’s Housing Market

Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season.

The Biggest Perk for Buyers: Low Mortgage Rates

 Today’s most compelling buyer incentive is low mortgage interest rates. The 30-year fixed-rate is now averaging just over 3%. While that’s slightly higher than the record-lows from 2020 and earlier this year, it’s still way lower than historic norms, making purchasing a home an ongoing perk for hopeful buyers (See graph below):Buyer & Seller Perks in Today’s Housing Market | MyKCMThis is a huge advantage for buyers and helps to make owning a home attainable for more households – and there’s good reason to strive for homeownership. The latest Homeowner Equity Report from CoreLogic shows how homeowners saw major gains in their net worth last year, all thanks to owning a home. Frank Martell, President and CEO of CoreLogic, explains:

Positive factors like record-low interest rates and a booming housing market encouraged many families to enter homeownership. This growing bank of personal wealth that homeownership affords was noticed by many but in particular for first-time buyers who want a piece of the cake. As a result, we may see more of those currently renting start to enter the market in the near future.”

Low mortgage rates are a plus for buyers right now, but experts forecast we’ll see them continue to rise as the year goes on. If you’re ready to purchase a home, it’s wise to get started on the process soon so you can secure today’s comparatively low rate.

The Biggest Perk for Sellers: Low Inventory

Today, there are simply not enough houses on the market for the number of buyers looking to purchase them, and it’s creating a serious sellers’ market. According to Danielle Hale, Chief Economist at realtor.com:

“Total active inventory continues to decline, dropping 50 percent. With buyers active in the market and sellers still slow to put homes up for sale, homes are selling quickly and the total number actively available for sale at any point in time continues to decline.” (See map below):

Buyer & Seller Perks in Today’s Housing Market | MyKCMThe lack of houses for sale continues to challenge the market, and with low mortgage rates fueling buyer demand, homes are hard for buyers to find today. According to the latest Realtors Confidence Index Survey by the National Association of Realtors (NAR), the average house is now receiving 4.1 offers and is on the market for only 20 days.

Buyers are clearly eager to purchase, and because of the shortage of inventory available, they’re often entering bidding wars. This is one of the factors keeping home prices strong and giving sellers leverage in the negotiation process.

Homeowners who are in a position to sell shouldn’t wait to make their move. There’s a light at the end of the tunnel for today’s inventory shortage, so listing this spring will get your house on the market when conditions are most favorable. With low inventory and high buyer demand, homeowners can potentially earn a greater profit on their houses and sell them quickly in the fast-paced spring market.

Bottom Line

Whether you’re thinking about buying or selling a home, there are major perks available in today’s housing market. Let’s connect today to discuss how these favorable conditions play to your advantage in our local area.

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.
What’s your home’s value?

Selling a Home March 4, 2021

Is It a Good Time to Sell My House?

Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling safely. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae shows that 57% of consumers believe now is a good time to sell.

Doug Duncan, Vice President and Chief Economist at Fannie Mae, explains:

“Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that it’s a good time to sell a home, with many citing favorable mortgage rates, high home prices, and low housing inventory as their primary rationale.”

Normally, spring is the busiest season in the housing market – the time when many homeowners decide to list their houses. While this is obviously not a normal year since the pandemic is still very much upon us, experts are optimistic that consumer positivity around selling will lead to more homeowners making moves this year. Duncan continues to say:

“We will pay close attention to see if this newfound optimism develops into a trend.”

What does this mean if you’re thinking of selling your house?

The fact that there are so few houses available for sale today is one driver that’s encouraging consumers to think more positively about selling. The National Association of Realtors (NAR) states:

“Total housing inventory at the end of January amounted to 1.04 million units, down 1.9% from December and down 25.7% from one year ago (1.40 million).”

With so few homes available to buy, your house will be more likely to rise to the top of an eager purchaser’s wish list in this competitive market. Today’s high buyer activity is creating upward pressure on home prices and more multiple-offer scenarios. According to the Realtors Confidence Index Survey from NAR, the average home for sale is receiving 3.7 offers today, up from 2.3 offers just one year ago. This makes selling even more enticing.

In this kind of sellers’ market, you have a huge advantage in the process. And here’s another win – you can also use your equity toward a down payment on a new home when you move.

Wondering where you’ll go if you try to move while it’s so challenging to find a home to buy? Well, in many areas, there are more homes available at the higher end of the market, so finding a move-up home may be less of an issue if you’re ready to search for your dream home this spring.

Bottom Line

If you pressed pause on selling your house last year, now may be the best time to put your plans back into motion while inventory is so low. Let’s connect today to get the process started.

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

Selling a Home February 22, 2021

Is Right Now the Right Time to Sell?

[et_pb_section fb_built=”1″ _builder_version=”3.18.2″][et_pb_row _builder_version=”3.18.2″][et_pb_column type=”4_4″ _builder_version=”3.18.2″ parallax=”off” parallax_method=”on”][et_pb_text _builder_version=”3.18.2″]

Is Right Now the Right Time to Sell? [INFOGRAPHIC] | MyKCM

[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.0.47″][et_pb_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=”3.18.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]

Some Highlights

  • If you’re on the fence about selling your house, now is a great time to take advantage of sky-high demand, low supply, and fierce buyer competition.
  • With buyer demand rising and historically low inventory for sale, if you’re in a position to move, your house may really stand out from the crowd.
  • Let’s connect today to get your listing process underway.

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.18.2″][et_pb_column type=”4_4″ _builder_version=”3.18.2″ parallax=”off” parallax_method=”on”][et_pb_cta title=”Thinking About Selling? ” button_url=”https://greenteamrealty.com/home-value-estimate/” button_text=”Find Out What Your Home Is Worth!” admin_label=”Call To Action” _builder_version=”3.18.2″ header_level=”h1″ header_font=”|800||on|||||” header_text_color=”#ffffff” header_font_size=”40px” body_font=”||||||||” custom_button=”on” button_text_size=”20px” button_text_color=”#ffffff” button_bg_color=”#1246c9″ button_bg_use_color_gradient=”on” button_bg_color_gradient_start=”#0c00b7″ button_bg_color_gradient_end=”#0900b7″ button_bg_color_gradient_direction=”145deg” button_border_color=”#0b1d1b” button_border_radius=”20px” button_font=”|800||on|||||” button_use_icon=”off” button_on_hover=”off” button_alignment=”center” box_shadow_style_button=”preset2″ max_width=”60%” module_alignment=”center” animation_style=”flip” animation_duration=”1650ms” animation_delay=”1450ms” text_shadow_color=”#ffffff”][/et_pb_cta][/et_pb_column][/et_pb_row][/et_pb_section]

Housing Market News January 26, 2021

Housing Market Update January 2021

[et_pb_section fb_built=”1″ _builder_version=”3.0.47″][et_pb_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 _builder_version=”3.18.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]

Geoff Green, President of Green Team Realty, welcomed everyone to the first Housing Market Update of 2021. Held on January 19 at 12 p.m., the webinar examined the housing market on both national and local levels.

If you missed the webinar or would like to view it again, it is available here.

Meet the Panel

Geoff was joined by Jennifer DiCostanzo and Tiffany Megna of Green Team New York Realty. Keren Gonen and Kristi Anderson of Green Team New Jersey Realty shared their knowledge of the Sussex County, NJ market.  Finally, Kenneth Aulicino, Senior Loan Officer at Family First Funding LLC shared his expertise.

Where we were and where we are

Green Team Realty Jan 2021 Housing Market Update

The above image shows the contrast between the years leading up to the housing market crash of the Great Recession, compared to the past 6 years. Geoff pointed out that, even though we are in a recession, it doesn’t necessarily mean that home prices will come down. In fact, in four out of six recessions, home prices actually increased. That is true for 2020. Furthermore, it is anticipated that home prices will continue to rise.

In fact, the impact of Covid-19 has impacted the real estate market in many ways. According to David Mele, President at Homes.com

“The surge in the work-from-home population has rewritten the playbook for many homebuying and rental decisions, from when and where to relocate, to what people are looking for in their next residence…”

A survey by Redfin shows that 34% of homebuyers have already moved to a different city or area since the pandemic began. Furthermore, another 33% would consider moving if given the opportunity to work remotely on a permanent basis.

Unemployment, interest rates, and more

Discussion ensued on unemployment projections and how long it might take for unemployment rates to return to near pre-crisis level. Job loss and its impact on renters may make it difficult for them to become future homeowners.

Housing Market Stats – National and Local

National existing home sales have increased, accompanied by a major increase in home price and major decrease in supply of inventory. These trends reflect what is happening on the local level, too.

“Housekeeping” Items

Housekeeping Items from Green Team Realty Jan 2021 HMU

 

Contact our Panelists

The panelists discussed the impact of the pandemic on the local Orange and Sussex County real estate markets. Covid-19 and the necessity of (and possibility for) many people to work from home has changed priorities, needs, and wants of many perspective home buyers, particularly those from New York City. To view the panel discussion, click here.

Green Team Realty Housing Market Update Panelists for Jan 2021

We’ll see you on Tuesday, February 16, 2021, at 12 p.m.

Click here to register.

 

 

[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]

Housing Market News January 25, 2021

What Does 2021 Have in Store for Home Values?

[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=”3.18.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]

According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates. As CoreLogic explained:

“Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to register above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks continued across the country, which delayed some sellers from putting their homes on the market.

While the pandemic left many in positions of financial insecurity, those who maintained employment and income stability are also incentivized to buy given the record-low mortgage rates available; this is increasing buyer demand while for-sale inventory is in short supply.”

Where will home values go in 2021?

Home price appreciation in 2021 will continue to be determined by this imbalance of supply and demand. If supply remains low and demand is high, prices will continue to increase.

Housing Supply

According to the National Association of Realtors (NAR), the current number of single-family homes for sale is 1,080,000. At the same time last year, that number stood at 1,450,000. We are entering 2021 with approximately 370,000 fewer homes for sale than there were one year ago.

However, there is some speculation that the inventory crush will ease somewhat as we move through the new year for two reasons:

1. As the health crisis eases, more homeowners will be comfortable putting their houses on the market.

2. Some households impacted financially by the pandemic will be forced to sell.

Housing Demand

Low mortgage rates have driven buyer demand over the last twelve months. According to Freddie Mac, rates stood at 3.72% at the beginning of 2020. Today, we’re starting 2021 with rates one full percentage point lower than that. Low rates create a great opportunity for homebuyers, which is one reason why demand is expected to remain high throughout the new year.

Taking into consideration these projections on housing supply and demand, real estate analysts forecast homes will continue to appreciate in 2021, but that appreciation may be at a steadier pace than last year. Here are their forecasts:What Does 2021 Have in Store for Home Values? | MyKCM

Bottom Line

There’s still a very limited number of homes for sale for the great number of purchasers looking to buy them. As a result, the concept of “supply and demand” mandates that home values in the country will continue to appreciate. Find out what your home is worth – click here.

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]

Buying a home January 25, 2021

Why Moving May Be Just the Boost You Need

[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=”3.18.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]

 

As we look back over the past year, we’ve certainly lived through one of the most stressful periods in recent history. After spending so much more time at home throughout the health crisis, some are wondering if they should move to improve their mental health and well-being. This is no surprise since the U.S. Census Bureau reported an increase in the percentage of adults with symptoms of anxiety and depression in a recent Household Pulse Survey.

There’s logic behind the idea that making a move could improve someone’s quality of life. When people change their scenery, they often feel happier. Catherine Hartley, an Assistant Professor at New York University’s Department of Psychology and co-author of a study on how new experiences impact happiness, mentioned:

“Our results suggest that people feel happier when they have more variety in their daily routines—when they go to novel places and have a wider array of experiences.”

If you’re looking for a new experience, planning a move into a new home may be something you’ve started to consider more carefully. If so, you’re not alone. The 2020 Annual National Movers Study by United Van Lines shows:

For customers who cited COVID-19 as an influence on their move in 2020, the top reasons associated with COVID-19 were concerns for personal and family health and wellbeing (60%); desires to be closer to family (59%); 57% moved due to changes in employment status or work arrangement (including the ability to work remotely); and 53% desired a lifestyle change or improvement of quality of life.”

So, if you’re thinking of moving this year to help boost your happiness factor, here are a few questions to ask yourself as you make your decision.

How’s the Weather?

Is the weather something that’s important to you? Does it have a tendency to impact your mood? The World Population Review shares:

“What states have the best weather? When evaluating each state for temperature, rain, and sun, some states stand out. Although climate and weather preferences are personal and subjective, some criteria are considered to make up the best weather, according to Current Results:

  • Comfortable temperatures from 63°F to 86°F for more than half of the year.
  • Dry weather with no more than 60 inches of rain per year.
  • Mostly clear skies with an average of sunshine for at least 60% of the year.”

“Better weather” can mean different things to different people – some prefer the heat, others cooler temperatures, and some want to experience all four seasons. Think about what makes you feel happiest if you’re looking for a new location.

Should I Choose the City, Suburbs, or Country?

With the COVID-19 pandemic, some people are deciding to move to lower-density areas. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), mentions:

“The third quarter Home Building Geography Index (HBGI) reveals that a suburban shift for consumer home buying preferences in the wake of the COVID-19 pandemic is accelerating as telecommuting is providing consumers more flexibility to live further out within large metros or even to relocate to more affordable, smaller metro areas.”

Can you work from home? Are you open to a longer commute in the future? If so, a move to the suburbs or even a quieter rural area may be a win for you. Or, if you’ve always dreamed of life in the city, now may be your chance to move into town.

Bottom Line

As we look beyond the trials of the pandemic, many are hoping for a new beginning, and that may mean moving. Let’s connect today to talk about your new goals and options in today’s market.

Contact one of Our Agents today!

See out Complete Inventory of Available Properties!

[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.18.2″][et_pb_row _builder_version=”3.18.2″][et_pb_column type=”4_4″ _builder_version=”3.18.2″ parallax=”off” parallax_method=”on”][et_pb_blog fullwidth=”off” posts_number=”3″ include_categories=”34″ show_more=”on” show_author=”off” show_date=”off” show_categories=”off” show_pagination=”off” use_overlay=”on” overlay_icon_color=”rgba(255,255,255,0.14)” hover_overlay_color=”rgba(0,80,239,0.33)” hover_icon=”%%0%%” _builder_version=”3.18.2″ header_font=”Open Sans||||||||” header_font_size=”20px” body_font=”||||||||” box_shadow_style=”preset1″ custom_padding=”0px|0px|0px|0px|true|true” custom_css_title=”text-transform: none;” global_module=”31695″][/et_pb_blog][/et_pb_column][/et_pb_row][/et_pb_section]

Buying a home December 23, 2020

The Difference a Year Makes for Homeownership

[et_pb_section fb_built=”1″ _builder_version=”3.0.47″][et_pb_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 _builder_version=”3.18.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]

Over the past year, mortgage rates have fallen more than a full percentage point, hitting a new historic low 15 times. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them.

1. Move-up or Downsize: One option is to consider moving into a new home, putting the equity you’ve likely gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit, especially if your lifestyle has changed this year.

2. Become a First-Time Homebuyer: There are many financial and non-financial benefits to owning a home, and the most important thing is to first decide when the time is right for you. You have to determine that on your own, but know that now is a great time to buy if you’re considering it. Just take a look at the cost of renting vs. buying.

3. Refinance: If you already own a home, you may decide you’re going to refinance. It’s one way to lock in a lower monthly payment and save more over time. However, it also means paying upfront closing costs, too. If you want to take this route, you have to answer the question: Should I refinance my home?

Why 2020 Was a Great Year for Homeownership

Last year, the average mortgage rate was 3.93% (substantially higher than it is today). If you waited for a better time to make a move, market conditions have improved significantly. Today’s low mortgage rates are a huge perk for buyers, so it’s a great time to get more for your money and consider a new home.

The chart below shows how much you would save per month based on today’s rates compared to what you would have paid if you purchased a home exactly one year ago, depending on how much you finance:The Difference a Year Makes for Homeownership | MyKCM

Bottom Line

If you’ve been waiting since last year to make your move into homeownership or to find a house that better meets your needs, today’s low mortgage rates may be just what you need to get the process going. Let’s connect today to discuss how you may benefit from the current rates.

Contact one of Our Professional Agents Today!

See Our Complete List of Available Properties!

[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.18.2″][et_pb_row _builder_version=”3.18.2″][et_pb_column type=”4_4″ _builder_version=”3.18.2″ parallax=”off” parallax_method=”on”][et_pb_blog fullwidth=”off” posts_number=”3″ include_categories=”34″ show_more=”on” show_author=”off” show_date=”off” show_categories=”off” show_pagination=”off” use_overlay=”on” overlay_icon_color=”rgba(255,255,255,0.14)” hover_overlay_color=”rgba(0,80,239,0.33)” hover_icon=”%%0%%” _builder_version=”3.18.2″ header_font=”Open Sans||||||||” header_font_size=”20px” body_font=”||||||||” box_shadow_style=”preset1″ custom_padding=”0px|0px|0px|0px|true|true” custom_css_title=”text-transform: none;” global_module=”31695″][/et_pb_blog][/et_pb_column][/et_pb_row][/et_pb_section]

Housing Market News October 27, 2020

October 2020 Housing Market Update

Geoff Geen, President of Green Team Realty, welcomed everyone to the October 2020 Housing Market Update. The webinar, held on Tuesday, October 20 at 2 p.m. examined the housing market on both national and local levels.

If you missed the webinar or would like to view it again, it’s available here.

Meet the Panel

October Housing Market Update panelists were Nancy Sardo, and Tammy Scotto of Green Team New York Realty, and Keren Gonen of Green Team New Jersey Realty. Also joining the discussion was Ken Aulicino, Mortgage Loan Originator at Family First Funding.

Can the housing market recovery be sustained?

The U.S housing market has been a “V-shaped” Recovery. However, inventory continues to decline and is a big challenge. So, can the housing market keep it up?

Pros

US Consumer Spending is almost in a V-shaped recovery. Unemployment has been coming down the last 6 to 7 months. The number of mortgages in active forbearance is decreasing. Prior to the Great Recession, it was a buyers market, due to the number of homes on the market. In the early 2000s, there was also a lot of new construction happening. Now, we are firmly in a sellers’ market. There are just not enough homes to satisfy the needs of the current market.

Housing Market Oct 2020

Cons

The shortage of inventory remains a major issue. According to Realtor.com,

“Since the beginning of the COVID pandemic in March, nearly 400,000 few homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory…

As a result, home prices are accelerating at double last year’s pace.”

According to the National Association of Realtors, Existing Home Sales are up by 10.5%. However, listings are down 39%. Listings for New Homes are down by 31%. However, sales of new homes have increased by 43%.

This really shows the inventory story.

Green Team Realty Oct Housing Market Update

Local Stats

In Orange County, NY, there are increases in units sold and in average sales price. Sussex County, NJ is now showing strong increases in average sales price, as well as in units sold.

Learn More, Watch the Webinar

Watch Geoff’s full presentation on national and local economic and real estate trends. In addition, our expert panel discusses their experiences in this market, including new construction. Click here to view the webinar.

Furthermore, you can compare prior statistics and trends. Click here for the September 2020 Housing Market Update.

“Housekeeping” Items

Green Team Realty Oct 2020 Housing Market Update

Contact our Panelists

Green Team Realty Oct 2020 HMU Contact Info

Join us on Tuesday, November 17 at 2 p.m.

Sign up for updates now at GreenTeamRealty.com/HMU

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.

Selling a Home August 10, 2020

Why Homeowners Have Great Selling Power Today

[et_pb_section fb_built=”1″ _builder_version=”3.0.47″][et_pb_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 _builder_version=”3.18.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]

We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When equity grows, selling a house becomes increasingly desirable. Here’s a breakdown of why it’s a great time to capitalize on equity gain in today’s market.

As average homeowner tenure lengthens and home prices rise, equity, a form of forced savings, can be applied forward to the purchase of a new home. CoreLogic explains:

“Over the past 10 years, the equity position of homeowners has positively changed as a result of more than eight years of rising home prices. As the economy climbed out of the recession in the first quarter of 2010, 25.9% or 12.1 million homes were still underwater, compared to the first quarter of 2020 when the negative equity share was at 3.4%, or 1.8 million properties. Borrowers have seen an aggregate increase of $6.2 trillion in home equity since the first quarter of 2010 and the average homeowner has gained about $106,100 in equity.”

Increasing equity is enabling many homeowners who are ready to sell their current houses today to sell for an increased profit, and then reinvest their earnings in a new home. According to the Q2 2020 U.S. Home Sales Report from ATTOM Data Solutions, in the second quarter of 2020:

Home sellers nationwide realized a gain of $75,971 on the typical sale, up from the $66,500 in the first quarter of 2020 and from $65,250 in the second quarter of last year. The latest figure, based on median purchase and resale prices, marked yet another peak level of raw profits in the United States since the housing market began recovering from the Great Recession in 2012.”

If you’ve been taking a closer look at your house recently and are thinking it might be time for you to make a move, determining your equity position is a great place to start. Understanding how much equity you’ve earned over time can be a key factor in helping you realize the potential profits in your real estate investment and move toward your next homeownership goal.

Bottom Line

With average home sale profits growing, it’s a great time to leverage your equity and make a move, especially while the inventory of houses for sale and mortgage rates are historically low. If you’re considering selling your house, let’s connect today so you can better understand your home equity position and take one step closer to the home of your dreams.

[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.18.2″ custom_padding=”0px|0px|0|0px|false|false”][et_pb_row _builder_version=”3.18.2″][et_pb_column type=”4_4″ _builder_version=”3.18.2″ parallax=”off” parallax_method=”on”][et_pb_button button_text=”Get an Instant Home Value Estimate” _builder_version=”3.18.2″ button_url=”https://greenteamrealty.com/home-value-estimate/”][/et_pb_button][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”3.18.2″][et_pb_row custom_padding=”18px|0px|17.5781px|0px|false|false” _builder_version=”3.18.2″][et_pb_column type=”4_4″ _builder_version=”3.18.2″ parallax=”off” parallax_method=”on”][et_pb_text _builder_version=”3.18.2″]

You Might Also Enjoy Reading…

[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row custom_padding=”12px|0px|17.5781px|0px|false|false” _builder_version=”3.18.2″][et_pb_column type=”4_4″ _builder_version=”3.18.2″ parallax=”off” parallax_method=”on”][et_pb_blog fullwidth=”off” posts_number=”3″ include_categories=”38,234″ show_author=”off” show_date=”off” show_categories=”off” _builder_version=”3.18.2″ header_level=”h5″ header_font=”||||||||” body_font=”||||||||” border_radii=”on|12px|12px|12px|12px” text_orientation=”center”][/et_pb_blog][/et_pb_column][/et_pb_row][/et_pb_section]