9 Melissa Court, Warwick, NY
Nestled within one of Warwick’s most sought-after neighborhoods, 9 Melissa Court presents an exceptional opportunity for those seeking a beautiful yet convenient living experience. This stunning residence features 4 bedrooms and 2.5 baths, providing ample space for families, guests, and/or a home office.
As you step inside, you’ll immediately appreciate the 9 foot ceilings with crown molding on the main level. The floorplan offers comfortable flow from one space to the next. You’ll find hardwood floors on the main level with a beautifully tiled sun-room off the kitchen. In addition brand new carpeting on all three levels creates a fresh and homey atmosphere. The beautiful warm neutral color palette offers a versatile backdrop for any style of décor.
The heart of the home is the open concept kitchen, sun room and family room, which is perfect for entertaining guests and creating lasting memories with loved ones. This thoughtfully designed space provides a seamless flow, allowing for easy interaction between the kitchen and the family room. The kitchen boasts modern appliances, ample counter space, and plenty of storage making it a joy for both cooking enthusiasts and casual meal preparation. This home is completely wired for sound in all the common rooms, as well as the outdoors on the porch and deck. Additionally, it is wired for internet in all rooms.
The second level offers four large bedrooms including a lovely primary suite with cathedral ceilings, a gorgeous en-suite bathroom, and a large walk-in closet. The second-level laundry room adds convenience to daily chores, making life a little easier for busy households.
The finished walk-out basement features a versatile rec room space, including a treadmill and home gym that is yours to keep as well. This area is perfect for fitness enthusiasts or for anyone looking to stay active without leaving the comfort of home. The rec room is large enough to create several different spaces within this lower level depending on your needs. A home office, play room, or 2nd lounge area are just a few options to consider.
A wrap-around porch adds character to the exterior and serves as a welcoming spot to relax and enjoy the surrounding natural beauty. Whether you’re sipping your morning coffee or unwinding after a long day, this peaceful retreat is right at your doorstep.
Outdoor living is a delight at 9 Melissa Ct, as the property is being offered with a hot tub, lovely gazebo, and all deck furnishings. Whether you’re unwinding in the hot tub, hosting barbecues, or simply enjoying the fresh air, the outdoor space is designed for relaxation and entertainment. Despite its quaint size, the backyard at 9 Melissa Ct offers a cozy outdoor retreat. It’s perfect for enjoying a morning cup of coffee or unwinding in the evening, providing a manageable space that requires minimal maintenance.
Location-wise, this residence offers the best of both worlds. Its convenient proximity to the village, allows residents to easily access the charming shops, boutiques, restaurants, and cafes that contribute to Warwick’s vibrant village life. At the same time, the property maintains a sense of privacy within the village, offering a peaceful sanctuary of your own located on a quiet cul-de-sac.
The low-maintenance nature of the property makes it an ideal choice for families with busy weekends and summers (think travel sports or a family who enjoys a separate lake home or beach house during summer months). 9 Melissa Court is also ideal as a second home for someone looking for a weekend getaway. Instead of spending precious time on extensive outdoor upkeep, homeowners can focus on enjoying their leisure time and the amenities the village has to offer.
An additional feature worth mentioning is the brand new driveway leading up to the 2-car garage, providing not only convenience but also enhancing the property’s curb appeal. As you approach the house, the freshly paved driveway offers ample parking space for residents and guests .
9 Melissa Court located in the heart of the Historic Village of Warwick, NY presents an exceptional opportunity for comfortable living in a sought-after neighborhood. With its 4 bedrooms, 2.5 baths, brand new carpeting, beautiful warm neutral color palette, open concept kitchen-family room space, brand new driveway, wrap-around porch, walk-out finished rec room in the basement, hot tub, gazebo, and deck furnishings, this property offers a balance of relaxation, entertainment, and convenience. Its small backyard, proximity to the village, privacy within the village, and low-maintenance nature make it a perfect choice for second homes, village life, families with busy weekends or travel sports, or as a weekend getaway.
Green Team Realty is Proud to Announce the Promotion of Vikki Garby to President
Established in 2005 by Warwick-native, Geoffrey Green, Green Team Realty began as a locally owned and operated full-service agency. Since opening, Geoff and his team have developed revolutionary operations for Realtors and their buyers and/or sellers from across the region allowing it to soar the ranks; currently in the top 1% of all Real Estate offices in both Sussex County, NJ and Orange County, NY.
“It is time for us to take the next step in terms of growing our organization” says Green. “We have proven over the course of time that we can deliver a great environment for Real Estate Agents to thrive, and for them to, in turn, deliver an exceptional experience to all of their clients. Promoting Vikki Garby to President of Green Team Realty will allow us to seek out new opportunities for more Sales Associates in new locations. Vikki is definitely the right person to help us achieve the intended growth we are seeking.”
Geoff Green has dedicated his professional career to building great businesses; he is also the co-Founder and CEO of Nuop, Inc. NuOp is a digital marketplace where Members make money by exchanging business opportunities with one another. With more growth for NuOp on the horizon, Geoff is appointing Vikki Garby as President of Green Team Realty which will provide him with more time and energy to focus on building a second business. Vikki Garby will not only continue what has been created with Green Team Realty, but will focus on enhancement and grow its influence in the region. Geoff will remain as the Real Estate Broker of record for all Green Team agencies and continue to oversee all related operations.
“I am extremely excited to take on this new and challenging role. Geoff has big shoes to fill. I have learned so much from him since joining his brokerage and I intend to exceed his expectations with this incredible opportunity.” Garby stated.
Vikki Garby is a successful career woman, happily married and a mother of two, thriving children. She graduated from Cornell University in 1997 with a focus on Finance. After graduation, she began her career in Investment Banking as an Analyst with Deutsche Bank. With a drive for success, she worked up the ranks to Associate and soon after, Vice President of the Structured Capital Markets division. In 2007, still with Deutsche Bank, she shifted over to their Longevity Derivatives Group where she joined as a Vice President and was soon promoted to Director. Here she structured, negotiated and executed multi-dimensional programs for the origination of premium finance loans and annuities which led the team in obtaining approval to sell longevity/mortality products in over a dozen countries.
The financial crisis of 2008, left many companies with no other option than to downsize; Deutsche Bank was no exception. Upon closing the Longevity Derivatives Group, Vikki was laid off. She didn’t allow that to stop the path she was on. With connections from her previous employer, Vikki began her own consulting firm called VAG Consulting acting as CEO/Founder.
In the meantime, Vikki and her husband pursued Real Estate Investments. With multiple properties purchased and subsequently rented, they decided it would make the most financial sense for Vikki to obtain her real estate license. With that, Vikki entered the Real Estate world.
Since joining Green Team Realty, Vikki has become a top salesperson, developed a desired reputation and is the recipient of many sales awards. She has been a top 10 finisher for the past 6 years at Green Team New York Realty. She is also the most prolific commercial real estate producer in the history of Green Team Realty.
In addition to her career success, Vikki has dedicated her free time to the community. Her volunteer experience is extensive and includes acting roles as: a board member of the Warwick Foundation for Excellence in Learning, First Lego League Coach, Cub Scout Den Leader, Sunday School Teacher, Treasurer of Kings Elementary PTA, and Treasurer then President of the Warwick Crew Booster Club.
Upon her transition into presidency, Vikki will continue to work with current and past clients to ensure their real estate needs are met.
“She is clearly a rising star in this industry and she is ready to take on the role of President at Green Team Realty. We are just thrilled to see how far Vikki can lead our organization.”, said Green.
“My goals are to make sure our agents continue to be well supported as they work towards their career goals. I will also seek new tools and opportunities to keep our agency one step ahead so we can continue to provide the very best service to our clients. Growing Green Team Realty will occur strategically and in a controlled manner such that our level of service and the quality of our agents shall not waver.” said Garby.
April 2020 Housing Market Update
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Covid19 has caused economic turmoil, health crises and uncertainty. However, a historical perspective may help us manage emotions and enable us to see what is happening in the housing market and navigate it accordingly. Below is a recording of the Housing Market Update as well as a summary of the most important discussion points.
National – Historical Perspective
Will this be like 2008, the start of the great recession?
The Housing Market was greatly impacted at that time because it was the catalyst that caused the Great Recession. Home price changes during last 5 recessions indicate that recessions do not necessarily impact the housing market. In 3 of the last 5 recessions, housing markets actually increased.
Housing and Mortgage Crash
In 2007, 2008 and 2009, the annual home price depreciation was significant. However, at the time we were dealing with sub-prime lending, etc. However, looking further back, to the Dot.com crash and 9/11 market crash, there was a significant S&P 500 stock market correction. Yet prices in the housing market continued to increase. There were good fundamentals in place.
Annual Home Price Appreciation
In any marketplace, you have to look at overall values. Are assets undervalued or overvalued? With the run-up to 2008, from 2000 to 2005, there were major price increases year over year. 6.5% was the lowest increase, with the highest being 12.5%. However, since 2014, 6.4% has been the highest increase. We haven’t gone back to those major subprime lending issues that happened before.
Mortgage Credit Availability and Affordability
The Great Recession required mortgage industry restructuring. That, in turn, led to qualified buyers not being able to borrow. This time around, it’s a different landscape. We don’t have a subprime lending bubble in the residential housing market. Loans will be processed for good buyers with good credit. Mortgage requirements are tightening a bit, but not to an unreasonable level. Another analytic compares total home equity cashed out in the years 2005-2007 and 2017-2019. People were using their homes “like ATMs” during the former period. The leverage people are putting on their homes has dropped from $824 Billion during 2005-2007 to $232 Billion during 2017-2019. 53.8% of all homes in America have at least 50% equity.
The percentage of median income needed to purchase a median-priced home has dropped from 25.4% in 2006 to 14.8% today. Affordability is in much better shape, largely due to mortgage rates being very low.
The Impact of Unemployment
Concerns about job losses are very real. A breakdown of the April 3 Unemployment Report shows the different sectors affected. 59.5% are from restaurant services and drinking places. The accommodation industry, retail trade, temporary help services, child daycare workers, health care office workers and construction workers make up most of the balance. In other words, these are jobs that should be coming back as soon as these businesses can operate again. It may take some time until people are confident and comfortable enough to get back out there. The next numbers come out on May 8, 2020 and will be discussed during the May HMU.
Unemployment rates and home sales do not seem to have a direct relationship. Current Unemployment Rates were compared to past financial crises. In 1933, during the Great Depression, unemployment rates were at a high of 24.9%. Goldman Sachs is predicting unemployment to be 15% in 2020. They are also predicting that number to go down to 6-8% in 2021, 5% in 2022 and 4% in 2023.
Based on data from the US Department of Labor accessed by Haver Analysis, the current employment situation is more like a natural disaster than a recession. The problem is how long this natural disaster, Covid19, is going to last. There are many unknowns, and no answers. We’ll be tracking what happens as parts of the economy reopen.
Historical look at Existing Home Sales Price
The market was hot the first two months of 2020, with average home sale price higher in January and February than those months in the preceding four years. It will be interesting to see what the numbers show over the next several months.
The above analytic shows Existing Home Sales Prices from January 1999 to January 2020. Even if you bought at the peak of 2007 or 2008, as Geoff did, just before the housing market plunged, it took 8 years for the market to recover. Historically speaking, people moved after an average of 6 years. That number is now inching up to 9 years. The average homeowner generally doesn’t buy or sell during a period of up or down. They want to wait and gain equity in their home. However, if you are not going to buy, what will you do? Rent? If so, you’re not building equity, you’re not getting tax write-offs, and other benefits of home ownership.
Inventory
In 2007, there were 8.2 months of inventory. Right now there are 3.1 months of inventory available. The market is much hotter now than in 2007 (leading into the Great Recession). Geoff believes that now is a very good time to buy, and not a bad time to sell, either, as inventory levels are so low. Historically, 6 months of supply is an average market. We are now down to 3 months of inventory. He does not see this number climbing anytime soon. Many sellers are not putting their homes on the market now, wanting to wait and see what will be happening. And, while people have to weigh their options, the low inventory can benefit those putting their home on the market.
April 2020 Local Stats
Orange & Sussex Counties
In Orange County, Units Sold were actually better in March than in February. Average Sales Price was way up. In Sussex County, Units Sold and Average Sales Price both coming out at a good solid pace. It will be interesting to see what the stats reflect when we take a look at our next Housing Market Update. At that time we’ll see the impact of Covid closures and stay-at-home regulations.
Housekeeping Items
Panel Discussion
Geoff Green was joined by Ken Flood of Quest Financial Services and Ken Aulicino of Family First Funding LLC. Vikki Garby and Carol Buchanan of Green Team New York Realty and Keren Gonen of Green Team New Jersey Realty represented the real estate agents’ points of view. Discussion ranged from the current state of commercial and residential real estate markets. There was positive feedback on how agents are adapting to the Covid19 regulations and are still able to assist clients and close deals. All three agents spoke of strong, serious buyer interest. Ken Flood discussed the financial market and Ken Aucilino the mortgage industry. Because of the wealth of information and graphics as well as the fascinating panel discussion, it is highly recommended that you watch the webinar. Click here to view the April 2020 Housing Market Update.
Remember to sign up below for the next Housing Market Update
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Vikki Garby is Green Team New York Realty’s 2019 2nd Quarter Sales Leader
[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”]Vikki Garby is having a great year. She was 1st Quarter Sales Leader for 2019, And now Green Team New York Realty is very proud to announce that Vikki is 2nd Quarter Sales Leader. According to Geoff Green, President of Green Team New York,
“Vikki Garby is a smart, focused Real Estate professional. Furthermore, the analytical abilities developed during her time as an investment banker and real estate investor contribute to her success in both Residential and Commercial Real Estate. It’s exciting watching Vikki grow her Real Estate Business. Green Team New York Realty is extremely blessed to have her as part of our Agency.”
More about Vikki…
As mentioned above, Vikki was an investment banker for a major bank in New York City. During that time she reviewed and negotiated complex contracts on a regular basis. And it was also during that time that Vikki became a real estate investor, negotiating on her own behalf as a buyer.
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 achieve their real estate goals. Furthering her education and skills, Vikki obtained her Commercial and Investment Properties Real Estate Certification (“CIREC”) last summer.
Vikki had this to say about her recent achievements:
“I have been blessed with a great year working with wonderful and supportive clients. Their loyalty has allowed me to grow my business each year. It has been an extremely rewarding and fulfilling year so far. The great team I have at Green Team New York Realty helps tremendously.”
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