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Raising the Roof at Green Team New York Realty
7 Main Street, Warwick NY – Before the Renovation
Raising the roof at Green Team New York Realty was just one of the improvements made to its building at 7 Main Street in Warwick, NY. Geoff Green, President of Green Team Realty, would walk around downtown, admiring the beautiful buildings and the renovations taking place. Then he’d glance over at the Green Team building, knowing it needed a major face lift. In addition, there was the issue of the four roofs. Yes, the building basically had four separate roofs just slapped together over the years. Geoff took aerial photos with his drone which show the poor state these roofs were in.
Making It Happen
Geoff relays the story beyond the renovation below:
I would have done it 10 years sooner, but I simply didn’t have the money. My wife Laura and I saved for many years to make this renovation happen.
There are aerial shots I took with my drone showing the poor state of affairs for the roof. The solution that you see now is all credited to our Architect Christopher Collins. I am extremely grateful for Chris’ work on our building. We originally had a different plan from a different architect and it just simply wasn’t as good of a plan as what we now have. The building would not have looked nearly as good as it does now. Chris was a God send.
Up on the Roof
Geoff talked about the team put together to put Christopher Collins’ plan into effect.
Russ Tellier was the contractor who did the large majority of the work on the 7 Main St building along with his friend Wayne Cosh. Russ was good enough to let me GC the project so that I could save some money and ultimately make it happen. Russ and Wayne did a fine job. As one would expect with a restoration job of this size it also required an electrical upgrade of sorts. All of the electrical work was done by Ralph & Tommy Edwards. In fact, one year after the major portion of the exterior renovation, Ralph and Tommy just finalized a new service line to the building. The building was painted by Christopher Colin, d/b/a “Chris The Contractor“. Chris also did a fine job, and he continues to do all sorts of jobs here and there for us on this building and many others that we are involved in.
A Labor Of Love
Geoff’s love of construction and renovation started in childhood. And it continues to this day.
I am not really sure why, but my history has been to purchase older properties in need of repair. Pretty much every building my wife and I own has undergone some major improvements at one point or another. Early on in my career I would be on site swinging the hammer. By way of building tree forts with my Brother Matt as a kid, I learned enough about construction to be able to maintain our investment properties. However, at this point I have built a great team of contractors who allow me to pick my spots, oversee what I need to in order to cut cost down, etc. . .
I have to say this is a labor of love for me. It literally goes back to my childhood days of building tree houses and skateboard ramps. It was fun waking up early in the morning, putting on a tool belt and going out to build something. But now after about 1 hour of labor I now get aggravated and say to myself, “what the heck am I doing”. So I now tend to leave the labor to the guys who do it best.
7 Main St, Warwick, NY After the Renovation
One thing is certain. Now, when Geoff walks through downtown Warwick, he can take pride in the Green Team New York Realty building at 7 Main Street. Because it is now one of those beautiful buildings he so much admired.
October in Orange and Sussex Counties
It’s October in Orange and Sussex Counties – and we know what that means!
Fall is in full bloom and pumpkins dot the fields throughout these sister counties. Leaves change color, providing a breathtaking landscape. During October in Orange and Sussex Counties, there is a lot to see and a lot to do, culminating in Halloween. And Green Team Realty is delighted to share activities and events with you to help you enjoy this beautiful fall month.
Fall Recipes and indoor and outdoor home projects and decorating ideas for the season
Better Homes and Gardens shares 53 pumpkin recipes, one for every day of fall. As this is a busy time of year for most everyone, how about 20 Make-Ahead Famiiy Dinners from RealSimple.com. Further, Better Homes & Gardens gives us Delicious Fall Comfort Food recipes to enjoy..
And, as the weather cools down, using the oven seems like a fitting idea. So Southern Living gives us 30 Fall Cookie and Bar Recipes Every Baker Needs. Finally, Southern Living also gives us 68 Fall Table Decor Ideas That Will be the Hit of Your Party. These gorgeous seasonal decorations will enhance entertaining and family meals (and dessert), as well. And there are beautiful creations to help you start planning for your Thanksgiving table.
Better Homes and Gardens provides you with 8 Landscape Ideas for Curb Appeal. Of course, this is the time of year for a special kind of curb appeal. HomeBNC has 28 DIY projects to celebrate this time of year. And HouseBeautiful.com has 45 Festive Outdoor Halloween Decorations to Trick Out Your House. There are lots of great ideas for getting into the “spirit” of the season! And while you’re busy taking care of outdoor chores and projects, your slow cooker will be brewing up a batch of Pumpkin Spice Latte!
Orange County, NY – Things to do, places to go
Pumpkin Festival at Hill-Hold Museum. 128 Route 416, Campbell Hall. Saturday, October 5, 12 p.m. to 4 p.m. Pumpkin rolling, face painting, waxing leaves, scarecrow making and hay rides. Refreshments available for sale. $3/person.
Applefest. Downtown Warwick. Sunday, October 6, 9 a.m. to 5 p.m. Vendors, live music and entertainment, children’s carnival, food and, of course, all things apple.
Warwick Children’s Book Festival. Railroad Green Park, Warwick. Saturday, October 12, 11 a.m. to 4 p.m. Live music and visits from 75 children’s authors and illustrators. In case of rain, the event will be held at Warwick Valley Middle School, 225 West St.
Sugar Loaf Arts & Crafts Fall Festival. Kings Highway, Sugar Loaf. Columbus Day Weekend, October 12, 13 and 14, 10 a.m. to 5 p.m. Enjoy arts, crafts, music, food and a beer garden in this charming artisan crafts village.
Sussex County, NJ – Things to do, places to go
Harvest, Honey and Garlic Festival. Sussex County Fairgrounds, 37 Plains Rd, Augusta. Saturday, October 12, 10 a.m. to 4 p.m. Farmers Market, vendors, children’s activities, and a variety of honey and garlic products. There will also be educational displays from the beekeepers. 973-579-0500.
Newton Fall Festival. Spring Street, Newton. Sunday, October 13, 11 a.m. to 3 p.m. Free family event with classic car show, live music, costume contest, vendors and crafts. 973-383-3521
Dog Walk of the Dead. Sussex County Fairgrounds, 37 Plains Rd, Augusta. Saturday, October 19, 5 p.m. to 8 p.m. All proceeds benefit “Oscar: One Step Closer Animal Rescue.” There will be vendors, costume contests, live music, food, a classic car showcase. Most importantly, there will be animal adoptions.
Last – but not least – Things to do on Halloween
And, since October in Orange and Sussex Counties ends in Halloween, take your pick of the events in these sister Counties.
- Check out Hudson Valley Magazine‘s Halloween Guide.
- For New Jersey’s haunted houses and info on nearby attractions, check out newjerseyhauntedhouses.com.
- Heaven Hill Farm’s Great Pumpkin Festival.is the largest Fall Festival in Northern New Jersey. There is plenty of room on this 110 acre farm for the 40 family-friendly activities, and lots of food. Of course, that includes apple cider and apple cider donuts. Plus, there are Corn and Hay mazes, There are just too many activities to list here, so check out the website for activities, days and hours, and ticket prices.451 State Route 94, Vernon. 973-764-5144
- Pure Terror Scream Park and Haunted Houses at Museum Village, Monroe, Thursday Oct 31 – 7:30 p.m. to 9:30 p.m. Friday and Saturday, Nov 1 & 2, 7:30 to 10 p.m. According to the website, Pure Terror is a 9 Haunted House walk through attraction. It’s one of the world’s largest and scariest haunted houses.. Also, there is a huge Halloween-themed midway with lots of music, food and photo ops for everyone. 1010 State Route 17M, Monroe NY. Visit the website for more details. Also, you can purchase tickets online.
- For those that prefer a little less “terror,” Museum Village offers No Scare Halloween on Saturday Oct. 19 and Sunday Oct. 20. 11 a.m. to 4 p.m. Parade around the grounds in not-so-scary costumes and take part in lots of kid-friendly crafts and games. The website will offer more details as event gets closer. 1010 State Route 17M, Monroe, NY. 845-782-8248
And if you prefer to stay home
hgtv.com has 45 Easy Halloween Party Ideas. Whether planning a party for kids, adults or both, there are lots of unique ideas for food and decorations here. Goodhousekeeping.com has 60+ Spooky Ideas for your Best Halloween Party Ever. You’re sure to find some inspiration at these links.
If you prefer to spend a quiet Halloween with the family, redbookmag.com has recommendations for the 47 Best Halloween Movies for Kids. This link will also lead you to easy recipes, crafts and costumes.
Have a wonderful October and a Happy Halloween.
Vikki Garby – 1st Quarter Sales Leader for Green Team New York Realty
Geoffrey Green, President of Green Team Realty, presents Vikki Garby with the 1st Quarter Sales Leader Award for 2019
Vikki Garby is Green Team New York Realty’s 1st Quarter Sales Leader for 2019
Green Team New York Realty is proud to announce that Vikki Garby is the 1st Quarter Sales Leader. According to Geoff Green, President of Green Team Realty, “Vikki Garby is a very smart and focused Real Estate professional. She is establishing herself as a true leader in the Orange County Real Estate marketplace. Vikki’s analytical abilities have served her well in both Residential and Commercial Real Estate. And both are contributors to her sales success. It’s going to be exciting to watch Vikki grow her Real Estate business. We are extremely blessed to have her as part of our Agency.”
About Vikki…
Prior to entering the world of real estate, Vikki worked for a major bank in New York City as an investment banker. There she reviewed and negotiated complex contracts on a regular basis. During that time, she became a real estate investor, negotiating her own transactions as a buyer. And her love of real estate and skill at navigating its many transactional parts, lead her to obtain her license so that she could help others with their real estate needs. In addition, Vikki has received her Commercial Investment Real Estate Certification. And this further enhances her ability to assist real estate investors and commercial clients.
Vikki had the following to say: “I appreciate this recognition very much. Success in this business is achieved by chugging away every day to help our clients as best we can. Thank you to all my loyal clients for trusting in me and for referring me to your family and friends. You have helped me grow my business to what it is today and I am extremely grateful for that. The support, tools and resources I receive by being a part of Green Team New York Realty make my job that much easier and more rewarding!”
Tom Folino – This former teacher is getting straight A’s from his clients
Upon retirement, this well-respected teacher and coach decided to turn his attention to a new career – real estate. When Tom joined the Green Team, Geoff Green said, “There might not be a better person to get into Real Estate in the Warwick market than Tom Folino. A true example of someone who has a huge network, is extremely likable, and always acts with integrity. What people might not know about him is that he is extremely diligent in his follow up and a very smart guy to boot. We are extremely blessed that Tom has decided to join our company.”
Geoff’s predictions are coming true. In his first year as a sales associate with Green Team New York Realty, Tom received an Honorable Mention Award for 2018, for achieving $1.5 to $3 Million in sales volume. And, while awards are good, the true reward for Tom is knowing that he has gone above and beyond for his clients. It’s now the former teacher who is being “graded,” and by the looks of it, he’s getting straight A’s!
A Special Transaction
A very special transaction was with Claire and Nick Previdi. Claire was a former student of Tom’s at Kings Elementary School. They purchased their first home in Chester, NY. Tom was also the listing agent for this home! This property was listed on December 4, 2018, and closed on January 18, 2019.
Client Testimonials
Barbara and Rob Lattimer – Warwick, NY 10990 — May 2020
Thomas Folino: Realtor Extraordinaire We recently purchased a condo in Warwick long distance. Tom guided us through the process with patience, professionalism and so much more. The Home Inspection needed to be done. We were 1200 miles away. Tom oversaw that. Major repairs were needed for the heating and a/c system. He supervised that work. Since we have taken ownership we have received texts from Tom letting us know all is well. It is obvious Tom loves his job and genuinely cares for those he serves. Thank you, Tom Folino!
Don Denmead – Warwick, NY — March 2020
Tom did an outstanding job in guiding me through the sale of my rental property. He was able to uncover multiple buyers even though the property had not been officially listed. Additionally, he explained the process and helped with the paperwork which optimized the time it took to complete the sale. I would recommend him to a friend and plan to use him again when I decide to downsize in the future.
Greg Maher – Warwick, NY — March 2020
I have known Tom Folino for roughly 20 years as he was my former elementary school physical education teacher. When I learned Tom was doing real estate I knew he would be the right person to guide me through my first home purchase. I wasn’t wrong. Tom was knowledgeable, compassionate, and understanding of all the questions I had. He regularly called to make sure I had everything I needed. I’m pleased with my new home and glad we could close in nearly 4 weeks. Job well done !!!
Evelyn Rosado – Greenwood Lake, NY — December 2019
Thomas is responsible, dedicated, respectful. He’s someone you feel comfortable working with. I’m very grateful I was able to count on him. I would definitely highly recommend his services.
Troy Edwards & Dashika Stewart– Monroe, NY — October 2019
Working with Thomas Folino was the best choice my fiancé and I could’ve ever made in choosing a real estate agent. We were both first time home buyers looking to relocate out of NYC. Thomas was so kind and patient each step of the way and assured us that everything would be fine within the process. He even went out of his way to connect us with a local mortgage broker who did a phenomenal job. We ended up closing on a three-bed condo in Monroe that we absolutely love. I would totally recommend Thomas to anyone and will for sure use him again. If he ever retired I would ask him to be my agent again one last time. 2019
Patricia and Thomas Lorgan – Warwick, NY — July 2019
We’ve known Ton Folino for over 40 years and both had the pleasure of teaching him. We were able to see his growth into an outstanding young man. Tom also became a teacher, and once again, we saw his growth as both a teacher and coach. He was our son’s basketball coach, and he was our other son’s supervisor as a swimming instructor. Tom was a wonderful and caring role model for not only our sons, but for all those who were fortunate enough to come in contact with him.
As a realtor, Tom continues to be just as outstanding. He worked tirelessly for us as we sold our home. Living in the same house for over 50 years and raising our 2 sons there meant we had some long-lasting memories, which were not easy to give up. Tom guided us through all those emotional times, and he made the transaction of going from homeowner to home seller as smooth and caring as possible. We had complete trust in Tom, and as always, never disappointed us. Whatever the highest rank possible for a realtor, Tom Folino is a deserving candidate. I wish all those who decide to sell their loving home to be as fortunate as we were to have Tom guide them on their emotional journey. Simply put, Tom Folino is the BEST !!!!
Brian Cisek – Warwick, NY — Mar 2019
Tom was very professional and easy to work with. He found me a great place in the location I wanted.
Miriam Stanford-Cusack– Greenwood Lake, NY — Mar 2019
We happened on Tom while wandering beautiful Warwick and knew from that moment he would be amazing! He is so patient and genuine. Tom found us exactly what we were looking for and was personable and informed. The whole process was practically stress-free and I love the place we found. I would recommend him!!
Mary Cusack– Greenwood Lake, NY — Mar 2019
Tom was knowledgeable, honest, always good-natured, and very hard working. He never stopped looking for possible places that might meet our needs and he did accomplish it. Tom found a beautiful place that exceeded our expectations. He negotiated a great price for us as well. Tom was always available when we had questions or requests. We had had previous experiences with realtors and Tom was a breath of fresh air!!! We’d recommend Tom without hesitation to anyone in the future!!!
Claire and Nick Previdi – Monroe, NY — Jan 2019
We are so pleased with our experience working with Tom to purchase our first home! He guided us through the entire process and was always available to answer any questions we had while responding quickly to calls and texts. I couldn’t believe how fast we closed on our house! Tom worked hard for us and always made sure we felt comfortable and understood what was happening at every step along the way. He immediately put us at ease as first-time homebuyers with his kind and personable nature. We highly recommend Tom for anyone looking to buy a house!
Joe LaBarca – Greenwood Lake, NY — Jan 2019
I met Tom Folino from Green Team Realtors when I decided to sell my home. Tom was very personable and upbeat about the process. Our home went up for sale in July and closed in Nov. He worked hard on selling our home and his marketing skills and negotiations were the best. We had lots of conversations about selling the house. He listens to all that is said to him He is fantastic. BIG Thank You, Tom. With his help, we are also in our new home 2500 miles away in Nov. also and I highly recommend Tom if you are buying or selling a house
Nicholas Mazzella – Warwick, NY — Dec 2018
I am so thankful to Mr. Folino, he really helped me find and get a place that I absolutely love, answering all questions, and putting in the time needed to help me. He was always in my corner from start to finish keeping me up to date and informed about any available homes and getting showings. Tom’s a hell of a real estate agent and will give you nothing but the best in service and work his tail off to get you what you’re looking for. Truly a pleasure to work with.
Kathleen Cisek – Warwick, NY — Dec 2018
I’ve never worked with a real estate agent as skilled and kind as Thomas Folino. He didn’t waste my time with rentals that weren’t for me, and found me the perfect house for rent based on the guidelines I gave him from price, number of rooms, to the bright kitchen. Tom knew exactly what I needed without my embellishing. As a woman, sometimes agents take advantage & waste time, but I’m happy to say Tom is not one of them! I was very happy with my experience. Tom was very thorough and helpful with any questions I had regarding paperwork, state regulations, rental procedures, the house, landlord & neighborhood. He helped me put in a strong application and the landlord chose me. With this competitive market, when I buy a house in the future I will definitely contact him. Thank you, Tom!
Joanne Haberlin and William Schwartz – West Milford, NJ — Dec 2018
Mr. Folino is the epitome of professionalism. He had a great knowledge of this area and several others. Tom also had the patience of a saint with my husband and I being so unsure of what exactly we really wanted. He stuck with us found us exactly what we needed and when this lease is up we will be using him again hopefully to purchase versus rent this time. I would highly recommend using him to anyone renting or purchasing!
Alberto Mata – Suffern, NY — Dec 2018
Mr. Folino is a great human being. Always ready to help in any way he can. I will highly recommend him as your realtor. He will always go above and beyond to satisfy your needs.
Scott and Victoria Cable – Washingtonville, NY — Nov 2018
Tom did a great job of helping us purchase our first house. He is a great negotiator and does a great job of communicating with the listing agent to expedite the whole entire process. He was very knowledgeable and informative which was fantastic since this was our first home. Tom is always there for us, responding to text or calls quickly no matter the time or the day! We went through other realtors before Tom and once we met Tom it was night and day in quality of service. I will recommend Tom a thousand times over!
Amanda Calabrese – Warwick, NY — Jul 2018
I just wanted to reach out with some positive feedback regarding one of your agents, Tom Folino. I’m not sure if this is the best forum to send this to you, but wanted to start somewhere. My husband and I have been working with Tom since April and he has shown us nothing but dedication, hard work, positivity, and communication. Tom made himself available to us even on his own personal time and followed up with every question in a very timely manner. I have had a few experiences with other realtors and Tom, by far, has exceeded all of these other experiences. Although we haven’t bought a home yet with Tom I would not hesitate to use him in the future and would highly recommend him to everyone looking for an agent in Warwick, New York. Please let me know that you received this email and would love to put this in a more formal letter if that would be helpful. Thank you for your time, Amanda Calabrese
This post has been updated 6/16/2020
January 2019 Housing Market Update
The Green Team’s January 2019 Housing Market Update was held on Facebook Live Tuesday, January 15 at 2 p.m. If were unable to view the webinar live, you can watch it at your convenience here. You can also sign up for future updates at GreenTeamHQ.com/hmu.
This month’s panelists…
Geoffrey Green, President/Broker of Green Team Realty, moderates the monthly webinars. He also presents national statistics, together with local updates for Orange County, NY and Sussex County, NJ. This month he is joined by Carol Buchanan of Green Team New York Realty, Keren Gonen of Green Team New Jersey Realty and Patrick “PJ” Keelin of Family First Funding.
The National Outlook
The above charts are raw numbers – the number of homes that were sold from 2014-2018. It appears that things are softening a bit, but it doesn’t appear that it will be drastic.
The analytic showing inventory levels is important. It has been difficult to find homes for buyers over the last few years. However, it appears that inventory levels may be coming back a bit. Lower demand should yield more inventory, but hopefully what some inventory may do is bring some people back into the game who may have been been frustrated previously.
This survey of experts, market analysts, etc. addressed the question, “What Will Home Prices Do in 2019?” 100 people were surveyed and 94% projected that housing prices on a national basis will continue to appreciate. Geoff aligns himself with that 94%. He believes that in 2019 prices will come up again in spite of the fact that activity went down. Price always lags activity.
According to Geoff, this quote from Goldman Sachs is a good one. “Despite the headwinds facing the housing market going into 2019, we expect U.S. house prices to generally achieve a soft landing. We expect national average price appreciation to remain positive.” If this comes true, it’s music to Geoff’s ears. He lived and worked through the last downturn, where 50% of the number of homes that sold went away within a 2-year period of time once the market starting declining. It was a difficult time
The percentage of Americans who believe homeownership is a good investment continues to increase. The market is at a peak and confidence continues to increase. However, Geoff finds that people tend to buy high and sell low. They should be buying low and selling high. The bottom of the market, 2011, 2012, and 2013 would have been a good time for investment.
However, people are confident that it’s a good time to buy now. And one thing that will never change is that homeownership is a good thing.
January 2019 Local Housing Market Update for Orange and Sussex Counties
Units Sold
Five year look back. The thick green line is 2018 and while it’s been a mixed bag throughout the year, we ended up just a tad bit lower than the past two years.
In Sussex County, Units Sold was also a mixed bag, with one of the lowest totals in almost 4 years.
Average Price
In Orange County, prices were up substantially for a good part of the year. However, there was a cooling-off period towards the end of the year.
Sussex County never saw as much of an appreciation as Orange County did. However, 2018 was still a leading year over the past 5 years.
Asking to Sold Ratio
What price do homes on average sell for versus the last asking price? The higher towards 100% the hotter the market. The numbers have been strong for Orange County throughout the year.
Sussex County was strong in this category throughout the year. However, it hit its highest point in December 2018 with a ratio of 98.50%.
Panel Discussion
Geoff asked Carol Buchanan and Keren Gonen what they think of the market, as it appears a softening is underway. Carol stated that inventory is still low, and January and February are common months for the market to slow down. Carol does believe that 2019 is going to be a very good year. People seem undaunted by higher interest rates. Still a lot of buyers; just not enough homes.
Keren also agrees that 2019 will be a very good year. She thinks that people will start listing homes for sale within the next few months. Right now buyers are looking but there is still not enough inventory. She feels there are sellers sitting on the fence, not sure what to do and just holding out for a few more weeks or months. Geoff commented that the bread and butter of the season is March through August. So it’s natural for many homeowners to wait until March to list their homes.
Talking with Keren regarding foreclosure activity, Geoff asked if she see a decline? Banks are fixing up houses and putting them up at market prices. If the quality of work was good, that would be fine. However banks are bidding jobs out and the resulting work is not necessarily good work. Buyers expect to see good quality and are disappointed with what they’re finding. They often would prefer to pay more for a house that is in good shape. Therefore, many of these homes being sold by the banks are just sitting on the market. Banks are now competing with flippers who, generally speaking, do a better job at fixing up homes than the contractors. Buyers most often prefer paying full price for a home that was “flipped” well than on an REO that was not done well.
Geoff mentioned that this was not the trend in the past. Banks would not fix up their properties and try to sell them for more money. They’d just try to unload them at lower prices and buyers could get a good deal. Over the course of time we’ll see if banks decide to go back to the way they used to handle foreclosures.
Regarding the financing environment, Geoff asked Patrick “PJ” Keelin what we’re looking at for 2019. As Geoff put it, at the end of the day we’re really in the land of the banks, dependent on what they’re willing to do. And how many times the Federal government is willing to let banks leverage their money. PJ indicated that on a global scale, at the end of the year there was talk of the Feds raising the interest rate. That usually indicates a stronger economy; stronger aspects coming from the financing angle and mortgage-backed securities, etc. Unfortunately, at the end of the year there was a huge difference and the Dow dropped significantly. The drop in the Dow affected reports of things they were coming out with. So trends and thoughts of increased interest rates by the end of the year through that New Year boom fizzled out. There are reports that there is potentially going to be a decrease in interest rate for the year 2019. PJ believes that is something being put out there for a little bit of hope.
However, the biggest thing we’re competing with is the lack of inventory and what people will be able to purchase. Looking at an average household income of $60,000 to $70,000, that probably puts a person on average of what they can afford in terms of a property at $1,500 to $1,600 range. That gives them a certain price point that they have to stay in, and with increases in interest rates that is going to affect their eligibility to be able to purchase properties within a certain price range.
Geoff stated that all signs point to Fed raising interest rates. He asked PJ if he thinks that won’t be the case in 2019. PJ replied that there will be a lot less than they were expecting in 2018. They may skip the first interest rate rise. Hopes on the industry side are that there will be a potential interest rate drop. That may push that boom for people who are still sitting on the edge. He sees a stronger trend with the amount of people who are actually motivated in purchasing. They may finally be believing the reports that interest rates are not going to stay historically low and will go up. So many reports are going in different directions that it’s unsure what to make of it. Industry leaders are saying the market is staying relatively steady, but be prepared. There could be a drastic change.
Right the now trend is slow and steady. PJ commented that Geoff is proactive in all that he does; communicating with his sales associates and with the lenders they work with. Because ultimately these transactions need to happen quickly in order for them happen. When they remain open, bigger changes are coming.
Geoff wrapped up, saying that at the end of the day, interest rates are impacted by bond markets. As long as there is no major economic collapse, the housing market should be fine. He predicts a good 2019. PJ agrees, that it will be a good, strong year. People are getting more motivated.
Join us for the next Market Update
The next Housing Market Update will be held on Tuesday, February 12 at 2 p.m., when the Green Team will again be going live on Facebook. Sign up for updates at Greenteamhq.com/hmu.
Nancy Sardo, First and Second Quarter Sales Leader Award Winner
Nancy Sardo does it again…
The Green Team is pleased to announce that Nancy Sardo is the Sales Leader Award Winner for both the First and Second Quarters of 2018. Nancy is not a stranger to this achievement. In 2017 she was the winner for the Second and Third Quarters. And some things just don’t change. Nancy still does not want to talk about herself. Instead, she would prefer to talk about the Green Team and the support and training offered.
A Mutual Admiration Society
When Nancy and Geoff Green talk about each other, their mutual admiration is evident. Nancy is proud to be with a broker who is constantly on the cutting edge of technology He provides Green Team sales sssociates with the marketing tools, technical training and practice sessions they need to provide the utmost in client service.
Nancy finds the Green Team Home Selling System to be unsurpassed when it comes to providing education, training and support. And, whether an agent is new or seasoned, Geoff always makes time to talk and brainstorm a problem. He may not know this, but he inspires Nancy to get out there and do her best everyday.
And Geoff’s thoughts on Nancy? He takes great pride and joy in all of her successes. He has called her a true superstar, and that description continues to hold true, maybe now more than ever.
It Takes a Team
One of the reasons Nancy doesn’t like to talk about herself is that she believes it takes more than one person to properly market a property or create a presentation to a perspective client. The team approach is a major part of the Green Team’s way of doing business. Geoff makes sure that his sales associates are backed up by a talented support team: office support, marketing director, graphic designer, copywriter, and computer specialists.
Being in the business of listing and selling homes throughout Orange County since 2005, Nancy has seen the positive impact of the Green Team’s approach as opposed to other brokerages. The emphasis on exceptional service and client appreciation has made a very real difference in her business.
New Construction: Combining passion and expertise
Nancy enjoys real estate in all its forms, whether helping someone buy, sell, or lease a property. However, her real passion is new construction. She has extensive experience working with both builders and clients. Her experience has led her to serve as listing broker for many subdivisions throughout Orange County. Nancy keeps up-to-date on new building codes and their impact on current and planned building designs and costs.
Nancy walks the buyer through all the steps of building their dream home. From the first meeting with the builder, obtaining financing, selecting finishes and upgrades and making sure that decisions are made in a timely manner to meet construction schedules, Nancy is there. Her goal is to make the experience of building a home as positive and stress-free as possible. And she keeps costs in mind as she guides buyers through the process, doing her best to keep them on their budget and not overspend on finishes and options.
The Whole Package…
With a shortage of existing homes on the market, new construction offers an option that might not have been previously considered. If you choose this route, being represented by a sales associate with knowledge, experience, an eye for detail, and the ability to keep track of and explain the process is priceless.
Nancy Sardo has all those qualities and more. Her real estate credentials are impressive. She’s an Accredited Buyer’s Representative (ABR), earned her Associate Broker’s License, and also has the Seniors Real Estate designation (SRES). She works non-stop and is constantly in motion. But there is something else about Nancy that makes her stand out and helps explain her success. Even in the midst of difficult times, she remembers to look for the good. Combine her knowledge, expertise, and energy with a remarkable attitude and you know that Nancy is, indeed, the whole package.
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.
Orange County Real Estate Market Report for May 2018
Green Team Business Review – May 2018
The numbers tell a story all their own. Despite the lack of inventory on the market, despite the specter of rising interest rates, loss of deductions due to new tax laws, etc., the Green Team is doing something very right and finding people buyers for their homes and finding homes for buyers! Both the Warwick and Vernon offices have more than doubled their sales volume from a year ago.
Orange County, NY Real Estate Market Report – April 2018 Results
The May Market Update was held on Tuesday, May 8 on Facebook Live. It was moderated by Geoff Green, Founder of Green Team Home Selling System. Panelists included sales agents Vikki Garby from the Warwick office, Keren Goren of the Vernon office, Michael Giannetto from Residential Home Funding and Ken Ford from Warwick Valley Financial Advisors.
If you missed the original live event, click here to watch. The discussion involved not only the housing market, but also perspectives on the economy. Our guest panelists have a great deal of knowledge and expertise, and the conversation was informative, educational and lively.
You can also sign up for monthly updates by email on the Green Team website.
We were experiencing technical difficulties:
Prior to the update going live, the following discussion took place:
The lack of inventory remains the biggest impediment to home sales, and the panel discussed the various reasons why people are reluctant to sell now. Vikki Garby stated that there were more buyers this winter than last spring, but that there is not a lot to buy. Cash buyers were coming in strong, with some people getting full asking price, or over. Keren Goren stated that many people she spoke to were just hanging on, waiting to see what would happen in the market.
Geoffrey Green told the panel that he is often asked, “Should I wait, because prices are going higher?” According to Vikki, sellers are worried about finding a home! People move up here from other places and swamp the market, and people who want to sell but stay in the area are concerned. Keren said that houses in Sussex are outdated, older than what buyers are looking for. Geoff said, “At the end of the day, if you’re moving and need to sell, try to sell and buy at the same time.”
The conversation turned to “fixer-uppers.” Geoff felt that most buyers don’t have the time, experience, and money to do renovation after buying a home. However, he asked the panel if they were seeing more buyers willing to take on a fixer-upper.
Keren cited a buyer who was willing to take out a loan to put a new roof on a house where everything else had been done. He was willing to go that step. Vikki stated there was not much to choose from and buyers trying to get into the area are having to be more flexible. Mike Giannetto stated that reno loans are now a big product and many people are taking the opportunity to fix up a house, put in new appliances, roof, etc., using equity.
Watch the video for more discussion, including a fascinating look into the world of economics and how the bond market impacts the interest rate that buyers may soon be paying.
Orange County, NY Real Estate Market Report – April 2018 Results
We are pleased to share with you the Housing Market Report for April 2018. We break down local real estate activities and provide you with stats, graphs, and analysis of our local and regional real estate market. In addition, we provide insight from some of the people most familiar with market trends: sales associates, mortgage funding specialists and financial advisers.
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.
With numbers in for April, the average days on are the lowest they’ve been for this month for 5 years.
Average Price
Here again we’re seeing a trend. Prices are coming in at their highest point for April in 5 years, at an average of $247,849.
Average Sold to Asked Ratio
This is the percentage a house sold for under or over the last asking (not the original) price.
The higher the percentage, the hotter the market. This April the percentage dipped slightly below April 2016 and 2017, but sellers are still negotiating at approximately 3.5 points off the last asking price. As mentioned last month, this is an average of all of Orange County, with some areas having a higher percentage, and some a lower one.
Homes that sold at 100% or more of last asking price
Here again there was a slight dip below April 2016 and 2017, though the numbers remain higher than 2014 and 2015.
Units Sold
Units sold seems to have flat lined; however, more units were sold in April 2018 than in the four preceding years.
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.
Each month we are also joined by industry experts who share insights into the current financing environment as well as broader economic issues affecting the housing market.
Check out our past Housing Market Updates. Then Register to join our next one on June 12th at 9am.
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Tom Folino Joins the Green Team
The Green Team Home Selling System is pleased to announce that Tom Folino has joined our organization. Tom, a true Warwick native, was born and raised here. His father, the owner of Folino’s Shoe Repair, was a fixture in the Village of Warwick, and his mother remains active to this day, now involved in the senior citizens’ retirement group.
Tom grew up loving his hometown and sports. He combined his love of both by coaching teams in Little League Baseball, the Youth Recreation Soccer Program, and the Youth Basketball League. Tom received his B.S. in Physical Education and Health from Slippery Rock University and his M.S. in Sports Administration from Montclair University. He taught in the Warwick Valley Central School District for 34 years, where he was also the Boys Varsity Basketball Head Coach and the Boys Varsity Golf Head Coach. Tom and his beautiful wife of 29 years, Nancy, raised their two sons here in Warwick. Thomas, the eldest, is a 4th-year medical student at NYCOM and younger son, Tyler is pursuing his Master’s Degree in Real Estate Development at Columbia. Nancy is a Director of Nursing at White Plains Hospital in Westchester.
Even when buying and selling his own homes throughout the years, Tom found that he really enjoyed the process – from obtaining financing to negotiating the best deals, and everything else involved. After retiring from teaching, Tom decided to turn his attention to real estate full time, motivated by a desire to help people sell their houses and find homes they’ll love in this community he knows so well. Tom, a well-respected teacher, and coach brings the same enthusiasm, dedication, and professionalism to his real estate career. His clients’ needs and desires come first, and his familiarity with Warwick and its many neighborhoods and villages is a real asset.
When asked why he chose to join the Green Team, Tom said that was easily answered in two words: “Geoff Green.” It seems that Tom coached Geoff some years ago and even then was impressed by the young man’s work ethic, perseverance, and leadership skills.
And, according to Geoff, “There might not be a better person to get into Real Estate in the Warwick NY market than Tom Folino. A true example of someone who has a huge network is extremely likable and always acts with integrity. What people might not know about him is that he is extremely diligent in his follow up and a very smart guy to boot. We are extremely blessed that Tom has decided to join our company.”
So, here we have it! The former coach and former player… together on the same winning team again.
Nancy Sardo Wins Second Quarter Sales Award
Nancy Sardo with principal broker and owner Geoff Green
Nancy Sardo Wins Second Quarter Sales Award
WARWICK – (August 8, 2017) The Green Team Home Selling System in Warwick, NY is proud to announce that Nancy Sardo recently won the Second Quarter Sales Leader Award.
Nancy has been listing and selling homes in Orange County, New York since 2005. Dedicated to her profession, she has earned her Associate Broker’s License, Seniors Real Estate Specialist designation and is an Accredited Buyer’s Representative. Nancy devotes her time and boundless energy to making sure she does her best for each and every client, staying on top of changes and trends in the real estate market and making sure that her clients have the best possible experience as they buy, sell, rent or build their home.
In addition, Nancy is passionate about new construction and her experience working with both builders and clients has led to her becoming the listing broker for several new subdivision developments throughout Orange County. Keeping on top of new building codes and their impact, as well as keeping the client on track with both schedule and budget, help her achieve her goal of making the experience of building a home a positive one for her clients.
Nancy’s philosophy is simple: “I love what I do for a living!” She goes on to say, “It takes a team to get the job done and I am proud to be part of a great team! I have the amazing opportunity to meet and work with the most wonderful clients and colleagues. Homeownership is a privilege and it is an honor to work with people who work so hard to achieve it.”
Sardo was born and raised in Queens, NY, but in 1999 she and husband Denis left the City for Warwick, where they raised their two children. A former Medical Assistant, Nancy volunteered with the Cub Scouts, as well as Meals on Wheels. Nancy made the transition to full time real estate agent 12 years ago and has never looked back.
According to Geoff Green, “This is Nancy Sardo’s first Quarterly Sales Leader award since becoming a Sales Associate here at The Green Team, and I am certain it will be the first of many. Nancy is a consummate professional hitting her stride, and it’s inspiring to watch her business grow before our eyes. I am honored that our company can assist her in all of her success.”
