Nothnagle now offers 24 convenient locations throughout the Greater Rochester region. Our newest location is at 9 Main Street in Brockport, following Nothnagle's recent merger with The Realty Network. Vickie Sweet, former broker/owner of The Realty Network said, "This is the right time for our company to align with the best real estate company in Rochester." Vickie will remain on and is looking forward to continuing in sales. Mark Swanson, a 20 year real estate veteran, will serve as Branch Manager. Stay tuned for details on our upcoming “Grand Opening” event in Brockport to be scheduled for January.
View our recent Page 3 announcement.
Monday, December 29, 2008
Tuesday, December 16, 2008
The Realty Network Merges with Nothnagle
The Realty Network is now Nothnagle Realtors! Established in 1995, The Realty Network has been a presence in the Brockport community for 13 years.
The office will remain at 9 Main Street in the Village of Brockport, allowing Nothnagle Realtors to offer 24 branch locations conveniently located throughout the Greater Rochester region.
Vickie Sweet, Broker/Owner of The Realty Network said, “This is the right time for our company to align with the best real estate company in Rochester.” Vickie has been in real estate for 22 years and is looking forward to continuing in sales.
Mark Swanson, Associate Broker with Nothnagle Realtors, will serve as branch manager. Mark has over 20 years of experience in the real estate industry. The office currently has 13 experienced agents.
“The experience and knowledge of the agents, coupled with the Nothnagle tools and technology, will be a great asset to buyers and sellers in the Brockport area,” said Armand D’Alfonso, President and CEO of Nothnagle Realtors.
Even in today’s economic climate Nothnagle Realtors continues to expand, opening two new offices in 2008 and launching the franchise division in October.
To contact Nothnagle Realtors’ Brockport branch, call 637-2810.
The office will remain at 9 Main Street in the Village of Brockport, allowing Nothnagle Realtors to offer 24 branch locations conveniently located throughout the Greater Rochester region.
Vickie Sweet, Broker/Owner of The Realty Network said, “This is the right time for our company to align with the best real estate company in Rochester.” Vickie has been in real estate for 22 years and is looking forward to continuing in sales.
Mark Swanson, Associate Broker with Nothnagle Realtors, will serve as branch manager. Mark has over 20 years of experience in the real estate industry. The office currently has 13 experienced agents.
“The experience and knowledge of the agents, coupled with the Nothnagle tools and technology, will be a great asset to buyers and sellers in the Brockport area,” said Armand D’Alfonso, President and CEO of Nothnagle Realtors.
Even in today’s economic climate Nothnagle Realtors continues to expand, opening two new offices in 2008 and launching the franchise division in October.
To contact Nothnagle Realtors’ Brockport branch, call 637-2810.
Tuesday, December 2, 2008
Court of Appeals Rules Attorney May Disapprove Contract For No Reason
The New York Court of Appeals decided the case of Moran v. Erk. This case addressed whether an attorney needs to have cause to disapprove a purchase contract pursuant to the attorney approval clause.
In this case, the Erks (buyers) entered into a real estate contract with the Morans (sellers) to purchase real property in Clarence, NY on December 22, 1995. The contract set forth the purchase price of $550,000 and contained an attorney approval contingency that stated, “This contract is contingent upon approval by attorneys for seller and purchaser by the third business day following each party's attorney's receipt of a copy of the fully executed contract (the 'approval period')... If either party's attorney disapproves this contract before the end of the approval period, it is void and the entire deposit shall be returned."
After signing the contract, the buyers decided to purchase a different property. The buyers then instructed their attorney to disapprove the contract. The attorney did so on December 28, 1995, during the term of the attorney approval period. Thereafter, the sellers kept the house on the market and eventually sold it for $385,000 in late 1998 (three years after the buyers contract and for $120,000 less). The sellers sued the buyers under a breach of contract theory for the difference in price and for “carrying costs” associated with marketing the property for an additional three years. The Supreme Court found in favor of the sellers stating, "[I]t is well settled law that where a buyer acts in bad faith by instructing his attorney to disapprove a real estate contract, the condition that the contract be approved by an attorney is deemed waived and a contract is formed." The Appellate Division affirmed the Supreme Court's decision agreeing with the “bad faith” premise. The case was further appealed to the Court of Appeals and was reversed.
In its decision, the Court of Appeals explored attorney approval contingencies and commented that attorney approval clauses are needed by real estate brokers in order to avoid the unauthorized practice of law as set forth in the Duncan v. Hill decision. The court stated that, “a real estate contract states that it is ‘subject to’ or ‘contingent upon’ the approval of each party's attorney, this language means what is says: no vested rights are created by the contract prior to the expiration of the contingency period.” The sellers argue that there is an implied limitation of good faith and fair dealing under New York law. The sellers argue that there is a limitation on the attorney’s ability to approve or disapprove a contract pursuant to the attorney approval contingency. As such, any disapproval must be made on good faith (which was defined as “neither party shall do anything which will have the effect of destroying or injuring the right of the other party to receive the fruits of the contract.”)
The courts further explored the issue of “bad faith” and found that if such a standard were to exist, it would jeopardize the attorney's ability to communicate with their clients since if an attorney was ever asked to disapprove a contract, it could be questioned as being made in “bad faith." This would compel the attorney to testify as to the substance of the communications between them and their clients. This would be a direct conflict with the attorney's duty to preserve a client's confidences and secrets. The court found this would threaten attorney-client confidentiality, a necessity in the practice of law.
The court ruled that the attorney approval should be interpreted according to its plain meaning. If the attorney approval clause does not contain any limiting language, a contract may be disapproved for any or no stated reason.
In this case, the Erks (buyers) entered into a real estate contract with the Morans (sellers) to purchase real property in Clarence, NY on December 22, 1995. The contract set forth the purchase price of $550,000 and contained an attorney approval contingency that stated, “This contract is contingent upon approval by attorneys for seller and purchaser by the third business day following each party's attorney's receipt of a copy of the fully executed contract (the 'approval period')... If either party's attorney disapproves this contract before the end of the approval period, it is void and the entire deposit shall be returned."
After signing the contract, the buyers decided to purchase a different property. The buyers then instructed their attorney to disapprove the contract. The attorney did so on December 28, 1995, during the term of the attorney approval period. Thereafter, the sellers kept the house on the market and eventually sold it for $385,000 in late 1998 (three years after the buyers contract and for $120,000 less). The sellers sued the buyers under a breach of contract theory for the difference in price and for “carrying costs” associated with marketing the property for an additional three years. The Supreme Court found in favor of the sellers stating, "[I]t is well settled law that where a buyer acts in bad faith by instructing his attorney to disapprove a real estate contract, the condition that the contract be approved by an attorney is deemed waived and a contract is formed." The Appellate Division affirmed the Supreme Court's decision agreeing with the “bad faith” premise. The case was further appealed to the Court of Appeals and was reversed.
In its decision, the Court of Appeals explored attorney approval contingencies and commented that attorney approval clauses are needed by real estate brokers in order to avoid the unauthorized practice of law as set forth in the Duncan v. Hill decision. The court stated that, “a real estate contract states that it is ‘subject to’ or ‘contingent upon’ the approval of each party's attorney, this language means what is says: no vested rights are created by the contract prior to the expiration of the contingency period.” The sellers argue that there is an implied limitation of good faith and fair dealing under New York law. The sellers argue that there is a limitation on the attorney’s ability to approve or disapprove a contract pursuant to the attorney approval contingency. As such, any disapproval must be made on good faith (which was defined as “neither party shall do anything which will have the effect of destroying or injuring the right of the other party to receive the fruits of the contract.”)
The courts further explored the issue of “bad faith” and found that if such a standard were to exist, it would jeopardize the attorney's ability to communicate with their clients since if an attorney was ever asked to disapprove a contract, it could be questioned as being made in “bad faith." This would compel the attorney to testify as to the substance of the communications between them and their clients. This would be a direct conflict with the attorney's duty to preserve a client's confidences and secrets. The court found this would threaten attorney-client confidentiality, a necessity in the practice of law.
The court ruled that the attorney approval should be interpreted according to its plain meaning. If the attorney approval clause does not contain any limiting language, a contract may be disapproved for any or no stated reason.
Tuesday, November 18, 2008
Sam Morreale Recognized as one of America's "Top 50 Agents"
Sam Morreale, salesperson with Nothnagle Realtors’ Irondequoit branch, is ranked #14 in America based on transaction sides (274) in a recent nationwide survey announced in The Wall Street Journal. Out of the 3,000 members of the Greater Rochester Association of REALTORS®, Sam is the only local real estate professional to make the list.
Licensed since 1982, Sam was named #1 Nothnagle agent in January 2007 and January 2008 and has been the Irondequoit branch’s #1 agent since 1998. He has been a consistent “Top 30” agent and Nothnagle “Gold Club” member since 1998. Sam has appeared on the Nothnagle Newsletter for 133 consecutive weeks.
REALTrends and Lore magazine, partnering with the Wall Street Journal, surveyed more than 7,000 real estate brokerage firms, state and local associations of REALTORS®, national training organizations, MLS system operators and respondents to past annual surveys, in search of “America’s Top 200 Real Estate Professionals.” To be considered, agents had to have a minimum of 75 closed transaction sides or $30 million in sales volume during the calendar year ending December 31, 2007. The results of the Top 50 agents were published in The Wall Street Journal on November 8, 2008.
“With 274 transaction sides last year, Sam certainly has earned the title of ‘Iron Man,’ a nickname given to him several years ago by his colleagues,” stated Armand D’Alfonso, President and CEO of Nothnagle Realtors.
Thursday, November 6, 2008
Nothnagle Realtors Gives Consumers More Choice
Nothnagle Realtors, Rochester’s #1 real estate company, and Premium Mortgage, Rochester’s #1 mortgage banker, are partnering in an effort to give Nothnagle customers and agents more choices in home financing options.
In today’s Real Estate market the #1 reason for a purchase offer cancellation is the buyer’s inability to obtain financing. Now, Nothnagle Realtors will have two mortgage companies to serve our clients and agents better.
Nothnagle Realtors has been offering its customers and agents in-house mortgages since 1969 through Nothnagle Home Securities Corp. and will continue that practice of working side-by-side. Nothnagle President and CEO Armand D’Alfonso said, “By adding Premium Mortgage our customers will have a choice of lenders and it gives our agents the ability to close more transactions. We have total trust in our relationship with NHSC. Both Home Securities and Premium Mortgage have a proven record of offering innovative programs and services.”
Each lender offers a wide variety of loan programs and competitive interest rates. Premium Mortgage also serves additional areas in New York State, Connecticut, California and Florida. Customers relocating or purchasing investment or vacation homes in other states can continue to benefit from Premium’s locations. This partnership will also assist Nothnagle as we expand our footprint in New York State.
“Both organizations have great reputations in our community. We can offer more choice, more extensive product offerings and the ability to locate a loan that will best suit our customers’ own personal financial needs. This is just another example of how our agents and customers Get More through Nothnagle,” stated Armand D’Alfonso, President and CEO of Nothnagle Realtors.
“With Nothnagle being the #1 Real Estate Brokerage Firm and Premium Mortgage being the #1 Mortgage Banking firm we really see this affiliation as the proverbial “the whole is greater than the sum of its parts”,” stated Mike Donoghue, President of Premium Mortgage.
Nothnagle REALTORS® was founded in 1948 and is a full-service real estate brokerage boasting 23 offices and more than $1.2 billion in annual sales.
Nothnagle Home Securities Corp. was the first licensed Mortgage Banker in New York State and is ranked as the Best Rochester Lender by SONYMA. NHSC was founded in 1969 by Philip and Raymond Nothnagle. Philip Nothnagle continues today as CEO and Chairman of the Board.
Premium Mortgage Corporation was established in 1999 by life-long Rochester resident Mike Donoghue. Premium Mortgage recently achieved the “Top 100” designation from the Rochester Business Alliance.
In today’s Real Estate market the #1 reason for a purchase offer cancellation is the buyer’s inability to obtain financing. Now, Nothnagle Realtors will have two mortgage companies to serve our clients and agents better.
Nothnagle Realtors has been offering its customers and agents in-house mortgages since 1969 through Nothnagle Home Securities Corp. and will continue that practice of working side-by-side. Nothnagle President and CEO Armand D’Alfonso said, “By adding Premium Mortgage our customers will have a choice of lenders and it gives our agents the ability to close more transactions. We have total trust in our relationship with NHSC. Both Home Securities and Premium Mortgage have a proven record of offering innovative programs and services.”
Each lender offers a wide variety of loan programs and competitive interest rates. Premium Mortgage also serves additional areas in New York State, Connecticut, California and Florida. Customers relocating or purchasing investment or vacation homes in other states can continue to benefit from Premium’s locations. This partnership will also assist Nothnagle as we expand our footprint in New York State.
“Both organizations have great reputations in our community. We can offer more choice, more extensive product offerings and the ability to locate a loan that will best suit our customers’ own personal financial needs. This is just another example of how our agents and customers Get More through Nothnagle,” stated Armand D’Alfonso, President and CEO of Nothnagle Realtors.
“With Nothnagle being the #1 Real Estate Brokerage Firm and Premium Mortgage being the #1 Mortgage Banking firm we really see this affiliation as the proverbial “the whole is greater than the sum of its parts”,” stated Mike Donoghue, President of Premium Mortgage.
Nothnagle REALTORS® was founded in 1948 and is a full-service real estate brokerage boasting 23 offices and more than $1.2 billion in annual sales.
Nothnagle Home Securities Corp. was the first licensed Mortgage Banker in New York State and is ranked as the Best Rochester Lender by SONYMA. NHSC was founded in 1969 by Philip and Raymond Nothnagle. Philip Nothnagle continues today as CEO and Chairman of the Board.
Premium Mortgage Corporation was established in 1999 by life-long Rochester resident Mike Donoghue. Premium Mortgage recently achieved the “Top 100” designation from the Rochester Business Alliance.
Monday, November 3, 2008
Nothnagle Realtors Offering Franchises
Once again Nothnagle REALTORS® is looking to grow and expand. For five decades Nothnagle REALTORS® has held the #1 spot in the Rochester market.
Although growth has been steady over its 60 year history, much of Nothnagle’s growth over the years has occurred in more challenging markets. During the slight slowdown in 2008, Nothnagle has increased market penetration in Rochester by two percentage points.
As the market becomes more challenging, many companies are seeking affiliations that will allow them to remain independent and competitive.
Nothnagle REALTORS® remains locally owned and operated and nothing will change with the Rochester-based operations, nor will the local branches become independent franchises. Rather, franchises will now be available outside our current market area that will not compete with agents affiliated with the company-owned branches.
“The benefits to Rochester are plentiful. Nothnagle REALTORS® is planning to create more jobs in Rochester as the local corporate headquarters will be expanded and renamed ‘National Headquarters,’” stated Armand D’Alfonso, President and CEO of Nothnagle REALTORS®.
Brokers who affiliate with Nothnagle REALTORS® will enjoy the recognition, experience, brand and support that come with the Nothnagle name and 60-year heritage. In 1948, John T. Nothnagle started the company using photography as the principal sales medium, displaying photos of homes for sale in his “Gallery of Homes.”
Today Nothnagle REALTORS® is ranked the 36th largest broker in the country by REALTOR® Magazine. Nothnagle REALTORS® is now positioned to leverage our successful infrastructure to form strategic alliances with other real estate entrepreneurs. By leveraging relationships and proven technologies, our system adds value to brokers, agents and consumers alike.
The Nothnagle system will provide a real estate platform designed to give independent brokers a competitive advantage in their marketplace. The system offers high-powered technology; agent recruitment and retention strategies; lead generation tools; agent training; and, a complete broker business system.
Nothnagle REALTORS® has come full circle. After being approached by brokers from the country interested in harnessing our technology, John T. Nothnagle launched the “Gallery of Homes” franchise system in 1950 – the first Real Estate Franchise in the nation.
At its peak in the 1970’s, there were over 650 companies operating 1,200 Gallery of Homes offices in nearly every state as well as Canada and the Virgin Islands. The franchise business was sold to Empire of America in 1983 and Nothnagle remained a member until 1991.
“Since 1948, Nothnagle REALTORS® continues to operate on the basic principle of using innovative technologies coupled with highly trained professionals to deliver top notch service to our clients. We are excited about the opportunity to partner with other growth-oriented entrepreneurs who seek to provide an enhanced experience for their agents and clients,” said Armand D’Alfonso, President and CEO of Nothnagle REALTORS®.
Although growth has been steady over its 60 year history, much of Nothnagle’s growth over the years has occurred in more challenging markets. During the slight slowdown in 2008, Nothnagle has increased market penetration in Rochester by two percentage points.
As the market becomes more challenging, many companies are seeking affiliations that will allow them to remain independent and competitive.
Nothnagle REALTORS® remains locally owned and operated and nothing will change with the Rochester-based operations, nor will the local branches become independent franchises. Rather, franchises will now be available outside our current market area that will not compete with agents affiliated with the company-owned branches.
“The benefits to Rochester are plentiful. Nothnagle REALTORS® is planning to create more jobs in Rochester as the local corporate headquarters will be expanded and renamed ‘National Headquarters,’” stated Armand D’Alfonso, President and CEO of Nothnagle REALTORS®.
Brokers who affiliate with Nothnagle REALTORS® will enjoy the recognition, experience, brand and support that come with the Nothnagle name and 60-year heritage. In 1948, John T. Nothnagle started the company using photography as the principal sales medium, displaying photos of homes for sale in his “Gallery of Homes.”
Today Nothnagle REALTORS® is ranked the 36th largest broker in the country by REALTOR® Magazine. Nothnagle REALTORS® is now positioned to leverage our successful infrastructure to form strategic alliances with other real estate entrepreneurs. By leveraging relationships and proven technologies, our system adds value to brokers, agents and consumers alike.
The Nothnagle system will provide a real estate platform designed to give independent brokers a competitive advantage in their marketplace. The system offers high-powered technology; agent recruitment and retention strategies; lead generation tools; agent training; and, a complete broker business system.
Nothnagle REALTORS® has come full circle. After being approached by brokers from the country interested in harnessing our technology, John T. Nothnagle launched the “Gallery of Homes” franchise system in 1950 – the first Real Estate Franchise in the nation.
At its peak in the 1970’s, there were over 650 companies operating 1,200 Gallery of Homes offices in nearly every state as well as Canada and the Virgin Islands. The franchise business was sold to Empire of America in 1983 and Nothnagle remained a member until 1991.
“Since 1948, Nothnagle REALTORS® continues to operate on the basic principle of using innovative technologies coupled with highly trained professionals to deliver top notch service to our clients. We are excited about the opportunity to partner with other growth-oriented entrepreneurs who seek to provide an enhanced experience for their agents and clients,” said Armand D’Alfonso, President and CEO of Nothnagle REALTORS®.
Friday, October 24, 2008
Nothnagle.com Named One of the Top Websites in America
1000watt Consulting and RealTrends issued a report on October 21, 2008, “The Top Ten Real Estate Brokerage Websites in America,” naming Nothnagle.com #8 on their list.
The report is based on a detailed examination of the corporate websites maintained by the 500 largest brokerage companies in the country as established by RealTrends’ annual RealTrends 500 list. Nothnagle Realtors ranked 35th on the 2008 list.
Over the course of a three month period, the 500 websites were reviewed based on several criteria including usability, content, features and design.
The report emphasized Nothnagle.com’s focus on the consumer stating, “overall, Nothnagle delivers a superior website experience.” Nothnagle.TV and guided tours were noted as “interesting and differentiating” features. The report further stated how impressed they were with how quickly and easily consumers can reach a Nothnagle agent via many different methods including text messaging, email, phone and Live Chat.
No other local brokerage site was included in the Top 10 report. In addition, the report criticizes “one-size-fits-all website templates” often found with some of the national franchises. The report states, “Two national brands well represented in the RealTrends 500 painted an almost universally dismal web picture due to circa-1998 affiliate website templates.”
Nothnagle.com was launched in 1995 and has won several awards. Nothnagle Realtors invests a significant amount of resources into the site to keep it fresh and up to date with exclusive tools and services. With an average 13,000 visitors per day, it is the most popular local real estate site.
In 2007, Nothnagle.com generated over 65,000 leads. The result? Nothnagle agents sold homes 11 days faster than the MLS average.* Nothnagle clients Get More – more leads, more offers, more sales.
* According to data from the Genesee Region Real Estate Information Service, Inc. (GENRIS) for period 1/1/07 – 12/31/07.
The report is based on a detailed examination of the corporate websites maintained by the 500 largest brokerage companies in the country as established by RealTrends’ annual RealTrends 500 list. Nothnagle Realtors ranked 35th on the 2008 list.
Over the course of a three month period, the 500 websites were reviewed based on several criteria including usability, content, features and design.
The report emphasized Nothnagle.com’s focus on the consumer stating, “overall, Nothnagle delivers a superior website experience.” Nothnagle.TV and guided tours were noted as “interesting and differentiating” features. The report further stated how impressed they were with how quickly and easily consumers can reach a Nothnagle agent via many different methods including text messaging, email, phone and Live Chat.
No other local brokerage site was included in the Top 10 report. In addition, the report criticizes “one-size-fits-all website templates” often found with some of the national franchises. The report states, “Two national brands well represented in the RealTrends 500 painted an almost universally dismal web picture due to circa-1998 affiliate website templates.”
Nothnagle.com was launched in 1995 and has won several awards. Nothnagle Realtors invests a significant amount of resources into the site to keep it fresh and up to date with exclusive tools and services. With an average 13,000 visitors per day, it is the most popular local real estate site.
In 2007, Nothnagle.com generated over 65,000 leads. The result? Nothnagle agents sold homes 11 days faster than the MLS average.* Nothnagle clients Get More – more leads, more offers, more sales.
* According to data from the Genesee Region Real Estate Information Service, Inc. (GENRIS) for period 1/1/07 – 12/31/07.
Wednesday, October 22, 2008
In Today's Market, You Need the Best!
The 10/18 Page 3 ad featured a checklist of tools and services offered by Nothnagle vs. our competition. If you're looking to sell a house and are interviewing brokers, we urge you to use this checklist. When comparing our competition's services to Nothnagle's, consumers will find that in every instance they will Get More using a Nothnagle agent!
10 Steps to Sell More Quickly
Realty Times recently published an article "10 Steps to Sell More Quickly in a Stalled Market." We are fortunate in Rochester that our local housing market has held fairly steady over the years. We have not experienced the dramatic upswing, nor are we now "crashing" like other areas of the country.
Sales prices are holding steady -- median price is down from $118,500 (2007) to $118,000 (2008) and average is only down 1.3% from $142,627 to $140,796. So if you're thinking of selling but are delaying because you're concerned that you won't get what your home is worth, values are holding in the Rochester market.
Using a Nothnagle agent who can get your property exposed to the widest pool of prospective buyers, combined with some of the tips from the Realty Times article and stable home values in our region, and sellers should be successful even in today's market.
Sales prices are holding steady -- median price is down from $118,500 (2007) to $118,000 (2008) and average is only down 1.3% from $142,627 to $140,796. So if you're thinking of selling but are delaying because you're concerned that you won't get what your home is worth, values are holding in the Rochester market.
Using a Nothnagle agent who can get your property exposed to the widest pool of prospective buyers, combined with some of the tips from the Realty Times article and stable home values in our region, and sellers should be successful even in today's market.
Thursday, October 16, 2008
Mortgage Money is Available at Nothnagle!
Contrary to what you may think based on media reports, conventional financing is still available with as little as a 5% down payment. Sellers are permitted to pay up to 3% of the sale price towards the buyer’s closing costs. While the credit guidelines on conventional financing have tightened, loans are readily available to borrowers with average credit – that is credit scores of 620 or higher.
Many of our clients have qualified for FHA loans with up to 97.75% financing available. FHA loans allow lenders to be more flexible with damaged credit, require a minimal down payment and allow for a 6% seller’s concessions applied toward the buyer’s closing costs. Maximum loan amounts for the Rochester region are $271,050 for a single family property. It is important to highlight the basics of FHA financing as it provides a great example of flexible mortgage programs available for our clients who do not have perfect credit or 20% for a down payment. (Minimum credit score required for FHA is currently 580 or better.)
Market participation for the company is at its highest level ever and in addition to consumers, agents are also flocking to Nothnagle Realtors because of the tools and services the company offers. This year alone, 70 experienced agents have already left a competitor to join Nothnagle Realtors.
Many of our clients have qualified for FHA loans with up to 97.75% financing available. FHA loans allow lenders to be more flexible with damaged credit, require a minimal down payment and allow for a 6% seller’s concessions applied toward the buyer’s closing costs. Maximum loan amounts for the Rochester region are $271,050 for a single family property. It is important to highlight the basics of FHA financing as it provides a great example of flexible mortgage programs available for our clients who do not have perfect credit or 20% for a down payment. (Minimum credit score required for FHA is currently 580 or better.)
Market participation for the company is at its highest level ever and in addition to consumers, agents are also flocking to Nothnagle Realtors because of the tools and services the company offers. This year alone, 70 experienced agents have already left a competitor to join Nothnagle Realtors.
Wednesday, October 15, 2008
Nothnagle Partners with Volunteers of America
Nothnagle Realtors has launched a company-wide volunteer effort in partnership with the Volunteers of America Children’s Center located on Lake Avenue in Rochester.
Through their Children’s Center, the VOA is delivering a wide range of programs through their state-of-the-art facility, which serves children from six weeks through 12 years of age. Children develop self-confidence, initiative and a positive attitude toward learning with age-appropriate curriculums for early childhood and homework assistance for school-age children.
The Children’s Center offers access to services that address the physical, social and emotional issues a child may be facing. Developmental and health screenings are offered to detect issues early on and to ensure school success. Telemedicine services are made available, allowing pediatricians at Strong Hospital to examine children and diagnose illnesses via the Internet.
On October 2nd, Nothnagle Realtors launched the volunteer program with the Corporate office volunteering for an afternoon in the Children’s Center. Volunteers spent time in the nursery and reading books to the 4-year old classes. Each month, at least one branch office will take a day to volunteer in the Children’s Center.
We have branches signed up for dates through June 2009. In addition to corporate affiliations with organizations like Volunteers of America, our individual branches and agents are involved with countless charities, youth groups, school activities and community fundraisers. A list of the community organizations we are involved in can be found on our website.
For more information on the programs offered through the VOA, or to learn how you can get involved, visit www.voawny.org.
Through their Children’s Center, the VOA is delivering a wide range of programs through their state-of-the-art facility, which serves children from six weeks through 12 years of age. Children develop self-confidence, initiative and a positive attitude toward learning with age-appropriate curriculums for early childhood and homework assistance for school-age children.
The Children’s Center offers access to services that address the physical, social and emotional issues a child may be facing. Developmental and health screenings are offered to detect issues early on and to ensure school success. Telemedicine services are made available, allowing pediatricians at Strong Hospital to examine children and diagnose illnesses via the Internet.
On October 2nd, Nothnagle Realtors launched the volunteer program with the Corporate office volunteering for an afternoon in the Children’s Center. Volunteers spent time in the nursery and reading books to the 4-year old classes. Each month, at least one branch office will take a day to volunteer in the Children’s Center.
We have branches signed up for dates through June 2009. In addition to corporate affiliations with organizations like Volunteers of America, our individual branches and agents are involved with countless charities, youth groups, school activities and community fundraisers. A list of the community organizations we are involved in can be found on our website.
For more information on the programs offered through the VOA, or to learn how you can get involved, visit www.voawny.org.
Wednesday, October 8, 2008
Page 3
All of the past "Page 3" articles from the Saturday Real Estate section of the D&C are posted at Nothnagle.com. This week's column focuses on how everyone Gets More at Nothnagle. We've reached our highest market participation rate EVER because we offer more tools than any of our competitors. In today's market, more and more consumers are seeing the benefits of working with Nothnagle to get the deal done -- to sell your home faster and/or to help you find your dream home.
Stop by and see the Fairport branch as they partner again with Camp Good Days and Special Times at the Fairport Scarecrow Festival. Activities begin at 9:00 a.m. with the Homecoming Parade and run all day. Wrap up with the "Drive in Movie Night" beginning at 7:00 p.m. with a viewing of Shrek III.
Stop by and see the Fairport branch as they partner again with Camp Good Days and Special Times at the Fairport Scarecrow Festival. Activities begin at 9:00 a.m. with the Homecoming Parade and run all day. Wrap up with the "Drive in Movie Night" beginning at 7:00 p.m. with a viewing of Shrek III.
Monday, October 6, 2008
The Key to Success
Contrary to media reports, interest rates are still good and there are buyers in the market who are able to access competitive mortgage products. And don't forget....all real estate is local. While local sales are trailing last year, keep in mind that 2006 and 2007 were exceptional years for housing. Our local market is still performing much better than many other parts of the country.
If you're thinking of selling your home, only Nothnagle Realtors can provide you with all of the tools you need to be successful. The key to successfully navigating today's housing market is to get your home exposed to the widest pool of prospective buyers. How do you do that? By plastering it all over the Internet, in print ads and on TV. Nothnagle can get your property noticed.
Nothnagle is reaching its highest market participation rate ever. Why? Because more and more people are turning to our agents -- and the extensive tool kit they have at their disposal....tools that no other competitor can offer. Call a Nothnagle agent direct or 899-MOVE to find out how you can GET MORE today!
If you're thinking of selling your home, only Nothnagle Realtors can provide you with all of the tools you need to be successful. The key to successfully navigating today's housing market is to get your home exposed to the widest pool of prospective buyers. How do you do that? By plastering it all over the Internet, in print ads and on TV. Nothnagle can get your property noticed.
Nothnagle is reaching its highest market participation rate ever. Why? Because more and more people are turning to our agents -- and the extensive tool kit they have at their disposal....tools that no other competitor can offer. Call a Nothnagle agent direct or 899-MOVE to find out how you can GET MORE today!
Friday, September 26, 2008
$700 Billion Government Bailout
The National Association of REALTORS has been working closely with policy makers and elected officials to alleviate the country's financial troubles and ensure that there is a robust secondary mortgage market -- all to help keep the housing industry afloat. Lawrence Yun, Chief Economist of NAR, posted his comments on the $700 billion proposed bailout at NAR's site.
NAR employs an entire research department that conducts all kinds of analysis and comments on issues affecting the industry. To read more about other housing-related research commentaries, click here.
NAR employs an entire research department that conducts all kinds of analysis and comments on issues affecting the industry. To read more about other housing-related research commentaries, click here.
Monday, September 22, 2008
Learn About the Benefits of Owning a Home
The National Association of Realtors has created a site to promote the benefits of owning a home. The site provides you with statistics and links to additional research and reports. If you're thinking of buying a home, but are hesitant in light of the recent news regarding the economy, visit the site to get the facts. It's a great time to buy real estate, especially here in the Greater Rochester region!
Wednesday, September 17, 2008
Mike Smith Named 2008 NYSAR Realtor of the Year
The New York State Association of REALTORS® honored Michael S. Smith, ABR, CEA, EMS, e-PRO, GRI, SRES, as the 2008 REALTOR® of the Year during the association’s Fall Business Meetings in Saratoga Springs, NY.
He is the 51st recipient of the REALTOR® of the Year award, which recognizes outstanding service to the REALTOR® organization at the local, state and national levels, a strict adherence to the high principles of the National Association of REALTORS® Code of Ethics, a commitment to civic activity and business accomplishments.
A REALTOR® for 30 years, Smith is an associate broker and assistant office manager with Nothnagle REALTORS® in Lakeville. He also serves as the brokerage’s company trainer.
Smith is a past president of the Genesee Valley Board of REALTORS® and sat on the GVBR Board of Directors for more than 15 consecutive years. As a New York State Certified Real Estate Instructor, he has written and taught numerous local board courses. He currently serves as the chair of GVBR’s Education Committee, and serves on the finance, MLS and orientation committees.
At the state level, Smith serves as the vice chair of both the Legislative Steering Committee and the Legislative Policy Forum. He has served on or chaired numerous other committees including organizational planning, member services, communications and public relations, and strategic planning. In addition, Smith has been an RPAC New York Life Member since 2002.
Smith is a dedicated member of the National Association of REALTORS®, regularly participating in NAR’s Calls for Action. In addition, he teaches the NAR Quadrennial Code of Ethics training for members of three local REALTOR® boards in New York State.
Active in his community, Smith is an advisor to Please Don’t Destroy Geneseo, a local citizens group dedicated to fostering smart growth initiatives. He is also a member of the Genesee Valley Conservancy, an open space preservation group.
In acknowledgement of his outstanding achievements, Smith will be honored at the REALTOR® Recognition Program during the 2008 REALTORS® Conference and Expo in Orlando, FL in early November.
The New York State Association of REALTORS® is a not-for-profit trade organization representing more than 64,000 of New York state’s real estate professionals.
Thursday, September 11, 2008
Nothnagle Realtors Raises Money for VOA
Proceeds raised from Nothnagle's annual golf tournament were donated to the Volunteers of America Children's Center, which supports programs for children age 6 weeks - 12 years. All proceeds raised were donated along with a matching corporate contribution. Click here to read more about the event and the many benefits the Children's Center brings to our community.
Thursday, September 4, 2008
Obtaining a Mortgage
With the tremendous losses experienced by the mortgage industry, it is true that some of the lending guidelines have been tightening up. Lenders have slightly increased their credit score requirements and many are requiring a 10-15% downpayment on a conventional loan here in Rochester. However, many programs are still out there -- especially if you're a first-time home buyer -- that may be less stringent.
One of the best things you can do to prepare if you're in the market to buy (aside from hiring a Nothnagle agent!) is to get pre-approved for a mortgage. Pre-approval has more significance than a pre-qualification. Nearly anyone can get a pre-qualification letter; a pre-approval letter is only issued after the lender has run a credit report and verified your financial circumstances. A pre-approval letter may also provide you with some conditions that must be met in order to obtain a mortgage. One common example would be if you own a home now, your lender may condition a mortgage approval on you selling your home first before they will lend you money for your new home.
Rochester continues to fair well, especially in comparison to other parts of the country. I have read stories of some borrowers being required to put 20%+ down in parts of the country hardes hit by the mortgage/foreclosure crisis. The issue being that in some of these areas that experienced tremendous appreciation and inflated price, if a buyer had a low downpayment coupled with plummeting home values, it makes it much easier to "walk away" from the property and go into foreclosure. The buyer doesn't have much to lose. By requiring a substantial downpayment, it makes it more difficult to simply walk away because a borrower may not want to lose a substantial cash investment.
Tuesday, September 2, 2008
Short Sales
The basic definition of a "Short Sale" is when the amount owned on a mortgage is higher than the value of the home. Therefore, there isn't enough money to pay the bank back -- i.e., you're "short" funds -- when you sell the property.
We continue to read about the foreclosure crisis in the country. However, many foreclosures have been averted when a "Short Sale" is successful. It benefits everyone involved when the only option is to go this route.
Ideally, this is an option for homeowners who a) may be having difficulty making payments; or b) have just started falling behind, because it can some times be a timely process -- especially if there is more than one bank involved. It is an option sometimes for homeowners who have had foreclosures proceedings initiated; however time is of the essence at this point.
The key to a successful transaction is that the lender must agree to accept less money than they are owed. Why would a bank do this??? Because they don't want to be in the business of owning your home. Banks lose money having to foreclose, possess and re-sell these properties. They can sometimes cut their losses before having to invest the additional time and expense required by the foreclosure process.
If you find yourself in financial trouble and you owe more than your home is worth, contact a Nothnagle agent to find out if a "short sale" is an option for you. Also, The Housing Council of Monroe County is a FREE service available to homeowners facing potential foreclosure. Call The Housing Council at 546-3700 or visit their website for more information.
We continue to read about the foreclosure crisis in the country. However, many foreclosures have been averted when a "Short Sale" is successful. It benefits everyone involved when the only option is to go this route.
Ideally, this is an option for homeowners who a) may be having difficulty making payments; or b) have just started falling behind, because it can some times be a timely process -- especially if there is more than one bank involved. It is an option sometimes for homeowners who have had foreclosures proceedings initiated; however time is of the essence at this point.
The key to a successful transaction is that the lender must agree to accept less money than they are owed. Why would a bank do this??? Because they don't want to be in the business of owning your home. Banks lose money having to foreclose, possess and re-sell these properties. They can sometimes cut their losses before having to invest the additional time and expense required by the foreclosure process.
If you find yourself in financial trouble and you owe more than your home is worth, contact a Nothnagle agent to find out if a "short sale" is an option for you. Also, The Housing Council of Monroe County is a FREE service available to homeowners facing potential foreclosure. Call The Housing Council at 546-3700 or visit their website for more information.
Find Your Next Home on Nothnagle.TV
This past weekend's Page 3 column in the Democrat and Chronicle was dedicated to one of our exclusive services offered only through Nothnagle Realtors -- Nothnagle.TV.
Nothnagle.TV added some updates from the original version and we now have made it easier than ever to use to find your next home.
Click here to read other past editions of our Page 3 column.
Nothnagle.TV added some updates from the original version and we now have made it easier than ever to use to find your next home.
Click here to read other past editions of our Page 3 column.
Wednesday, August 27, 2008
Report on Real Estate Websites Issued
The WAV Group, a real estate consulting company, recently released a report regarding online sites that offer property search tools for consumers. The conclusion was that a site based on information from a LOCAL Multiple Listing Service (MLS) will give consumers more accuracy in terms of what's available in a local market.
In the "MLS" world, Brokers like Nothnagle, who are part of a local MLS, are allowed to set up "IDX-Powered Sites" that display all of the area listings -- both Nothnagle's as well as other Brokers participating in the MLS. The report found that these Broker IDX sites, such as Nothnagle.com, are the most accurate with an average 96% - 98% accuracy rating.
Many of the national aggregator sites and national franchise sites were found to only display a fraction of the for-sale properties and/or the listing information was outdated (i.e. the properties were already sold).
Many sites claimed to have millions of listings on their site, but when tested they often had below 3,000 listings.
Nothnagle.com displays up-to-date listing information and features nearly all of the listings in the Greater Rochester region. Through Nothnagle.com, you can easily contact one of our agents to get more information on any of the properties that appear on the site.
In the "MLS" world, Brokers like Nothnagle, who are part of a local MLS, are allowed to set up "IDX-Powered Sites" that display all of the area listings -- both Nothnagle's as well as other Brokers participating in the MLS. The report found that these Broker IDX sites, such as Nothnagle.com, are the most accurate with an average 96% - 98% accuracy rating.
Many of the national aggregator sites and national franchise sites were found to only display a fraction of the for-sale properties and/or the listing information was outdated (i.e. the properties were already sold).
Many sites claimed to have millions of listings on their site, but when tested they often had below 3,000 listings.
Nothnagle.com displays up-to-date listing information and features nearly all of the listings in the Greater Rochester region. Through Nothnagle.com, you can easily contact one of our agents to get more information on any of the properties that appear on the site.
Thursday, August 21, 2008
Nothnagle Agent Wins National Award
Debbi Jacob, Associate Broker with Nothnagle Realtors, has been named one of the “Top 50 Realtors on the Rise for 2008,” by RIS Media’s Real Estate Magazine. Debbi was selected by the magazine’s editors out of hundreds of submissions sent in from across the country.
This is the 4th year that Real Estate Magazine has conducted the contest. The recipients of the award are from across the U.S. and the winners are featured in the August issue of Real Estate magazine and online at www.rismedia.com.
Debbi has more than 26 years of sales experience and was working as a dental hygienist when she first joined Nothnagle in search of a new career. Licensed in June 2006, Debbi is fast approaching $8 million in sales this year. Debbi won Nothnagle’s “Rookie of the Year” award and is a member of Nothnagle’s prestigious Gold Club.
As a newly licensed agent working between shifts at the dentist office, Debbi’s manager once asked why she was achieving so much success at open houses. Debbie replied, “I only have two hours so I need to listen carefully, ask questions and establish rapport very quickly. I need to establish trust so people know I will be able to look out for their best interests.”
When asked about the overall secret to her success, Debbi further added, “Our office and the tools Nothnagle has make it pretty easy to find success. The only thing an agent has to add is hard work and the golden rule and that is to treat people as you would want to be treated. It's a pretty easy concept and I know people sense when an agent cares about them and their needs above and beyond everything else.”
Armand D’Alfonso, President and CEO of Nothnagle Realtors, stated, “From day one, Debbi’s warm and engaging personality made everyone she meets comfortable and confident that she could help them with all of their real estate needs. Combined with her positive attitude and determination, I knew Debbi would be very successful in this business. We are thrilled to have Debbi as part of our Nothnagle family of agents.”
Debbi is married with three grown children. In addition to selling real estate, Debbi enjoys skiing, boating, antiques, gardening and is an active volunteer with Breast Cancer awareness.
Debbi can be reached at the Pittsford branch of Nothnagle Realtors at 585-389-4019.
Wednesday, August 20, 2008
Webster Branch to Raise Funds for Hope House
Join us on Saturday, August 23rd at our Webster Branch, 2055 Empire Boulevard, for a good cause! Stop by between 10:00 a.m. - 3:00 p.m. for a car wash and to grab a hot dog or hamburger. Car wash and food is FREE OF CHARGE but donations gladly accepted. All of the money raised will be donated to Hope House. We will also be collecting food items; bring non-perishable items and we will deliver to Hope House.
Hope House, founded in 1998 by parishioners from Holy Trinity, is located on Ridge Road East in the Village of Webster and has provided assistance to over 1,000 families since its inception. Hope House provides families with food assistance as well as Emergency Financial Assistance, to help cover the cost of items like medical expenses, rent and utilities.
We look forward to seeing you on Saturday! Call the Webster office at 671-5180 if you need directions or additional information.
Friday, August 15, 2008
First Time Home Buyer Tax Credit
Many first-time buyers who purchase a principle residence between 4/9/08 - 7/1/09 will qualify for up to $7,500 in tax credits. The tax credit will be equal to 10% of the purchase price, up to a maximum of $7,500. There are some income restrictions. A "first-time home buyer" is defined as someone who has not owned a principle residents for the 3-year period prior to purchase. There is also a payback provision that makes the program similar to an interest-free loan. For more information on the program, the National Association of Realtors has put together a publication that helps explain the program.
Call a Nothnagle agent today or 899-MOVE for more information.
Wednesday, August 13, 2008
Getting Your House SOLD!
The local REALTOR association (GRAR) will release the July 2008 statistics on home sales in the Greater Rochester region at the end of the week. Preliminary reports indicate that sales are down 11% year to date. New business written has dropped over 27%.
Nothnagle Realtors, however, is outperforming the market with company sales close to 2007 levels. And our numbers are included in the GRAR numbers -- so that means some companies have had even more dramatic decreases than the overall 11%.
Nothnagle has been hovering around 57-58% market participation, our highest ever. The reason? Because in market conditions like we face today, successful sellers know that now more than ever they need the comprehensive marketing and advertising program that ONLY Nothnagle offers. None of our competitors can market properties like we can! We invest a tremendous amount of time, effort and company dollars in our advertising -- and we do so because it produces results. And our numbers back up the results, which is why our market participation is the highest ever and our sales are holding steady year over year.
Nothnagle Realtors, however, is outperforming the market with company sales close to 2007 levels. And our numbers are included in the GRAR numbers -- so that means some companies have had even more dramatic decreases than the overall 11%.
Nothnagle has been hovering around 57-58% market participation, our highest ever. The reason? Because in market conditions like we face today, successful sellers know that now more than ever they need the comprehensive marketing and advertising program that ONLY Nothnagle offers. None of our competitors can market properties like we can! We invest a tremendous amount of time, effort and company dollars in our advertising -- and we do so because it produces results. And our numbers back up the results, which is why our market participation is the highest ever and our sales are holding steady year over year.
Monday, August 11, 2008
The Nothnagle Difference
Our "Page 3" article from this past week's Real Estate section of the Democrat and Chronicle focuses on the advantages sellers, buyers and agents get from Nothnagle Realtors. We offer tools and services that no one else in the area provides. Even in today's market, with the local MLS reporting sales down year to date 12%, Nothnagle has achieved our highest market participation ever. And many agents have been leaving other companies to join Nothnagle because they get more tools and support here, helping them to focus more on what they do best -- buying and selling homes.
Friday, August 8, 2008
Quiz: Staging Savvy
Make your home look its best so prospective buyers can picture themselves there. Take this Quiz from REALTOR Magazine to boost your staging savvy!
Nothnagle Ranked 36th Largest Broker
REALTOR Magazine's annual report of the Top 100 firms listed Nothnagle as 36th largest broker (based on transaction sides) in the country. Even more significant, our sales agents average 16 transactions per agent, the highest of the Top 36 brokers and the highest of any other local company included on the list. The average number of transactions per agent for the entire Top 100 was 7.3.
Nothnagle Realtors recently achieved 58% market participation -- our highest ever. Our success is due to the success and talent of our agents. Nothnagle Realtors offers extensive and ongoing training, state-of-the-art technology and with 100+ employees, a support network that allows our agents to focus on what they do best, buying and selling homes.
Thursday, August 7, 2008
Preparing for Your Open House
Make the most of this opportunity! Showcase your home to prospective buyers in order to bring about a successful sale.
1. Make sure your house is exceptionally CLEAN! Remove all clutter, organize closets, clear kitchen and bathroom counters. Put away family photos and children's artwork -- you want people to picture themselves living in the home so it helps to depersonalize it.
2. Clean up gardens and landscaping, sweep sidewalks and driveway, touch up any slight imperfections like chipped exterior paint.
3. Light it up! Open blinds and curtains to allow natural light in, turn on lights to brighten up the space.
4. Do not use deodorizers and air fresheners as they may irritate people's allergies.
Wednesday, August 6, 2008
The Benefits of Using a Nothnagle Agent
Sellers often look at the expense of paying a real estate agent to sell their home instead of focusing on the benefits of using an agent. The best chance of a successful sale occurs when 1) the property is priced right; and 2) when it is exposed to the widest pool of prospective buyers. Nothnagle agents can help you with both.
Our agents have access to recent sales recorded through the MLS to help you properly price your property, and Nothnagle Realtors invests a tremendous amount of money to get your home in print ads, on the Internet, TV, promoted through mailings. We’re every where the buyers are, which is why we sell homes 11 days faster and 2.3% closer to asking price than the MLS average.
When sellers get more exposure and buyers can easily find property information, it's a win-win for everyone. To read more, click here for the full article that appeared in the 8/2/08 edition of the Democrat and Chronicle.
Our agents have access to recent sales recorded through the MLS to help you properly price your property, and Nothnagle Realtors invests a tremendous amount of money to get your home in print ads, on the Internet, TV, promoted through mailings. We’re every where the buyers are, which is why we sell homes 11 days faster and 2.3% closer to asking price than the MLS average.
When sellers get more exposure and buyers can easily find property information, it's a win-win for everyone. To read more, click here for the full article that appeared in the 8/2/08 edition of the Democrat and Chronicle.
Thursday, July 31, 2008
Updates & Outlook Past Articles
Each Saturday in the Real Estate section of the Democrat and Chronicle, Nothnagle's CEO has a featured article on a timely news topic related to the industry. If you miss one of our articles, of if you read one previously that you meant to save but didn't, you can find an archive on Nothnagle.com under Company/Page 3 Articles.
Sellers Get More with Nothnagle
A recent Wall Street Journal article, “How to Sell a House, When You Have to Sell it Now,” (David Crook, July 14, 2008) contained some positive news about Rochester, specifically mentioning us as one of the markets where prices “have held relatively firm or risen modestly through the Big Bust” that has occurred in other parts of the country.
The article also provided tips to prospective sellers on how to improve their chances of a successful sale, recommending to “Hire a Top Real Estate Agent” as a key point. If you’re looking to sell your home, then look no further than Nothnagle Realtors for a “top real estate agent.”
Click here to continue reading this article from our "Updates and Outlook" column in the Saturday Democrat and Chronicle's Real Estate section.
The article also provided tips to prospective sellers on how to improve their chances of a successful sale, recommending to “Hire a Top Real Estate Agent” as a key point. If you’re looking to sell your home, then look no further than Nothnagle Realtors for a “top real estate agent.”
Click here to continue reading this article from our "Updates and Outlook" column in the Saturday Democrat and Chronicle's Real Estate section.
Monday, July 28, 2008
Permits and Pool Alarms
If you are planning on installing a deck, pool or addition, you will want to check with your local town/municipality to find out what permits may be required. While inspections and the application process may vary from town to town, I am not aware of any town that does not require a permit. When you go to sell your property, you could be delayed if you do not have the necessary permits. If you think you may be selling in the near future and you do not have permits, you may want to begin looking into obtaining those permits prior to putting your house on the market. Also, if you have installed a pool after December 2006, NYS law now requires you to have a pool alarm installed. Many towns now have information available on their websites on what is required and how to apply for a permit.
Thursday, July 24, 2008
More Advertising Means More Sales
The key to a successful sale is getting the property exposed to the greatest number of potential buyers possible. Some agents think that by holding the property back from the market in an effort to create a "frenzy" once it becomes available may not be acting in the best interest of their client. While sometimes this may work in a hot neighborhood, it benefits the seller to get mass exposure in an effort to get as close to -- or even more than -- asking price.
MLS rules require that a listing be entered into the listing service within 24 hours, otherwise it's known as a "pocket listing." The reason this practice is prohibited is to discourage agents from holding the listing back from the market while they look for their own buyer in order to financially benefit from both sides of the transaction.
If you interview an agent who tells you their plan is to NOT advertise or put your listing into the MLS.... proceed with caution. Nothnagle knows advertising works, that's why we as a company invest in many forms of advertising -- print, TV, the Internet. More advertising equals more sales and our numbers reflect this trend. We're approaching 58% market participation -- the highest ever. Our success in today's market is all tied to our extensive advertising program and our highly trained and professional agents.
MLS rules require that a listing be entered into the listing service within 24 hours, otherwise it's known as a "pocket listing." The reason this practice is prohibited is to discourage agents from holding the listing back from the market while they look for their own buyer in order to financially benefit from both sides of the transaction.
If you interview an agent who tells you their plan is to NOT advertise or put your listing into the MLS.... proceed with caution. Nothnagle knows advertising works, that's why we as a company invest in many forms of advertising -- print, TV, the Internet. More advertising equals more sales and our numbers reflect this trend. We're approaching 58% market participation -- the highest ever. Our success in today's market is all tied to our extensive advertising program and our highly trained and professional agents.
Monday, July 21, 2008
Rochester Mentioned in WSJ
A July 14th article in the Wall Street Journal cites Rochester as one of the markets where prices "have held relatively firm or risen modestly through the Big Burst" that has occured in other parts of the country.
The article also provides useful tips to bring about a successful sale -- tips that can be utilized in any market. One of the suggestions advises against trying to time the market, stating "You won't have any better luck than a stock trader who's always holding out for the market highs or lows."
My brother and sister-in-law benefited from the "boom" in San Diego, having purchased a condo that sold sight-unseen with multiple offers submitted for more than double their purchase price. Problem now, they're in Sacramento where the market has completely bottomed out and their house is worth much less than what they purchased it for. Fortunately, they plan to stay put for a while so, as with the stock market, it's not a "loss" until you actually sell.
Bottom line, if you're looking to sell or buy, contrary to what the media may report, it's still a good market. The key to a successful sale in any market, as mentioned in the article, is to hire a top real estate agent and "Promote, promote, promote." Simply putting a house in the MLS doesn't often lead to a sale -- it takes creative marketing and getting your house in front of as many prospective buyers as possible.
The article also provides useful tips to bring about a successful sale -- tips that can be utilized in any market. One of the suggestions advises against trying to time the market, stating "You won't have any better luck than a stock trader who's always holding out for the market highs or lows."
My brother and sister-in-law benefited from the "boom" in San Diego, having purchased a condo that sold sight-unseen with multiple offers submitted for more than double their purchase price. Problem now, they're in Sacramento where the market has completely bottomed out and their house is worth much less than what they purchased it for. Fortunately, they plan to stay put for a while so, as with the stock market, it's not a "loss" until you actually sell.
Bottom line, if you're looking to sell or buy, contrary to what the media may report, it's still a good market. The key to a successful sale in any market, as mentioned in the article, is to hire a top real estate agent and "Promote, promote, promote." Simply putting a house in the MLS doesn't often lead to a sale -- it takes creative marketing and getting your house in front of as many prospective buyers as possible.
Wednesday, July 16, 2008
Housing Crisis/Business Nation Commentary
Is the housing crisis really a crisis? Dennis Kneale on CNBC crunches the numbers. He also discusses foreclosures and mentions the states with the foreclosure problem -- California, Florida, Nevada, Arizona -- are also the states that had the most dramatic price increases during the "boom." Out of the 120 million homes in the U.S., it's reported that 4 million households are having trouble paying their mortgage on time yet so much focus is placed by the media on the "crisis."
The Rochester market remains steady and stable, with foreclosure rates not dramatically rising and while sales are down, it is only a slight decrease overall. In fact, several of the Nothnagle branch offices are even experiencing an increase in sales year to date over 2007.
The Rochester market remains steady and stable, with foreclosure rates not dramatically rising and while sales are down, it is only a slight decrease overall. In fact, several of the Nothnagle branch offices are even experiencing an increase in sales year to date over 2007.
Tuesday, July 15, 2008
Why do people return to Rochester?
Sometimes we think the grass is greener on the other side, only to find out that we have it pretty good right where we are! We hear so much about people leaving Rochester for greener pastures. Better weather, lower taxes. But what about the people who come back? Nothnagle Realtors is partnering with the We ROC campaign to help get the word out about all the positives our community offers. Read about ROC Rebounders, people who left Rochester only to return -- and they're thrilled to be back!
What are some of the reasons people return to Rochester? Cost of living is much lower, affordable housing, they miss their families, short commute (20 minutes on average), quality of life, the public school system and believe it or not....some people even miss the four seasons, including winter!
Monday, July 14, 2008
Days on Market
If you're a buyer, you may hear your agent reference "Days on Market" (DOM) when you're looking at a property. The Multiple Listing Service (MLS) will show to other agents the number of days a property has been on the market. Even if a seller changes agents, when the new agent enters the property into the MLS the MLS will carry over the DOM. The only time the DOM will reset is if the property has been taken off the market for a minimum of 30 days. At that point, when re-entered into the system, the clock will be reset and DOM will show up as zero.
Does DOM really affect the price much? Some sellers fear that if their home shows as being on the market for an extensive amount of time, buyers may think they're desperate to sell and therefore ready to take a low-ball offer. While that could be the case, there are often other factors that may contribute to a higher DOM count such as price not having been set correctly to begin with -- especially when an agent agrees to list at an unreasonable price "just to get the listing" with the intent of attempting to get the seller to lower the price after the fact. Another reason for a higher DOM count could be that the property is unique. If it's a dairy farm, it may take longer to sell because it's only targeting a small segment of the population that wants to be a dairy farmer. If this is the case, then DOM may not be a good indicator.
Does DOM really affect the price much? Some sellers fear that if their home shows as being on the market for an extensive amount of time, buyers may think they're desperate to sell and therefore ready to take a low-ball offer. While that could be the case, there are often other factors that may contribute to a higher DOM count such as price not having been set correctly to begin with -- especially when an agent agrees to list at an unreasonable price "just to get the listing" with the intent of attempting to get the seller to lower the price after the fact. Another reason for a higher DOM count could be that the property is unique. If it's a dairy farm, it may take longer to sell because it's only targeting a small segment of the population that wants to be a dairy farmer. If this is the case, then DOM may not be a good indicator.
Thursday, July 10, 2008
Gates Agents Help Homeless
Last summer, R-News aired a segment asking the community to donate items for Sanctuary House, an emergency shelter for homeless women and children run by Catholic Family Center. Margaret Salatino and Mary Santa Maria, agents with the Gates branch, answered the call. They organized an office collection and delivered popsicles and food to the shelter. The office has continued to assist the shelter, helping to furnish a new apartment for women transitioning out of the shelther to providing them with holiday dinners. Now they have extended their caring to include people in need in other CFC shelters.
Francis Center is a CFC shelter for homeless men. Margaret and Mary recently organized an effort to help a 44-year old man with developmental disabilities get settled in his own apartment. Nothnagle agents from the Gates branch delivered household items for the man -- including a queen size bed and a dining room set.
Margaret has indicated this is just the beginning. "I really look forward to continuing our relationship with Sanctuary House and helping in any way we can," she added.
Francis Center is a CFC shelter for homeless men. Margaret and Mary recently organized an effort to help a 44-year old man with developmental disabilities get settled in his own apartment. Nothnagle agents from the Gates branch delivered household items for the man -- including a queen size bed and a dining room set.
Margaret has indicated this is just the beginning. "I really look forward to continuing our relationship with Sanctuary House and helping in any way we can," she added.
Tuesday, July 8, 2008
Nothnagle Realtors Ranked #36 in U.S.
Realtor Magazine annually ranks the Top 100 real estate companies in the country. Nothnagle Realtors ranked #36 based on transaction sides in this year's survey. Our salespeople average 17 transactions per agent -- the highest of any local company on the list. Nothnagle Realtors has 22 offices in Monroe and the surrounding counties. As a regional company, we take great pride in being ranked 36th largest broker in the entire country, going up against companies that are spread out over a much larger territory and doing business in higher density cities.
Monday, July 7, 2008
Positive News About Rochester
The Siena College Research Institute published a report for NYS metropolitan regions indicating Rochester ranked 2nd highest in consumer confidence and showed the smallest decrease over the past year.
An article in the Albany Business Review (6/27/08) had a quote from Scott Murphy, managing director of the Glens Falls office of Advantage Capital Partners stating, "Of all of the major upstate cities...Rochester is the most dynamic at the moment." The article went on to state that venture capitalists are saying Rochester is "the hottest place in the state" because of several factors including High Tech Rochester, U of R and RIT. These entities serve as strong incubators for start-ups, combined with the local talent pool of employees displaced from the large employers.
New York State ranked 32nd in nation for May on RealtyTrac's foreclosure activity report. We are not being impacted to the same extent as other parts of the country. If you look at the states with the high foreclosre activity, it correlates with the same areas we hear about in the national media reports where the "boom" has now become a "bust." That has not been the case with the Rochester market -- our market continues to remain steady and stable.
Did you know that the average return on a 5% down payment over 10 years is 3-5 times greater than the average stock market returns? The New York State Association of REALTORS conducted a statewide survey and found owners remain in their home for an average of seven years. For suburban Monroe County, the median home price has grown from $107,900 in 2000 to $132,900 in 2007. For the City of Rochester, the median grew from $48,200 in 2000 to $56,000 in 2007. (Source: Grasberger Economics)
Inventory remains healthy, interest rates are low and economic factors indicate that the Rochester region is fairing well in contrast to other parts of the country and even the state.
An article in the Albany Business Review (6/27/08) had a quote from Scott Murphy, managing director of the Glens Falls office of Advantage Capital Partners stating, "Of all of the major upstate cities...Rochester is the most dynamic at the moment." The article went on to state that venture capitalists are saying Rochester is "the hottest place in the state" because of several factors including High Tech Rochester, U of R and RIT. These entities serve as strong incubators for start-ups, combined with the local talent pool of employees displaced from the large employers.
New York State ranked 32nd in nation for May on RealtyTrac's foreclosure activity report. We are not being impacted to the same extent as other parts of the country. If you look at the states with the high foreclosre activity, it correlates with the same areas we hear about in the national media reports where the "boom" has now become a "bust." That has not been the case with the Rochester market -- our market continues to remain steady and stable.
Did you know that the average return on a 5% down payment over 10 years is 3-5 times greater than the average stock market returns? The New York State Association of REALTORS conducted a statewide survey and found owners remain in their home for an average of seven years. For suburban Monroe County, the median home price has grown from $107,900 in 2000 to $132,900 in 2007. For the City of Rochester, the median grew from $48,200 in 2000 to $56,000 in 2007. (Source: Grasberger Economics)
Inventory remains healthy, interest rates are low and economic factors indicate that the Rochester region is fairing well in contrast to other parts of the country and even the state.
Thursday, July 3, 2008
we ROC Campaign Launched
Officials and sponsors launched the new "we ROC" campaign last week to promote all of the positives of our community. The website features comments from residents who moved away, only to return to Rochester when they realized how good they had it here. Hear the radio campaign that has launched and watch for billboards to appear around the community.
Rochester residents can sometimes be our own worst enemy when it comes to knocking Rochester -- this campaign will highlight all the many positives our community has to offer and will also be launching ads in national publications in an effort to attract people (and businesses) to the area.
Appraisals
There is often a lot of confusion about appraisals. Some people think that there is no difference between an "appraisal" and an "inspection." Not true! An appraisal is a valuation of the property that the lender requires to make sure that they are not giving out a mortgage on an overpriced property. The appraiser typically has no obligation to inform the buyer as to the condition of the property (with one exception under FHA mortgages).
A home inspector will look at the structural condition of the property and is typically hired by the buyer and reports to the buyer.
Realtor.com has a good article that helps explain an appraisal and refute the myths/misconceptions people have about appraisals.
A home inspector will look at the structural condition of the property and is typically hired by the buyer and reports to the buyer.
Realtor.com has a good article that helps explain an appraisal and refute the myths/misconceptions people have about appraisals.
Items Included in the Sale
The common purchase and sale contract used in the Rochester region states in paragraph 2 what items are included in the sale of a property. It basically covers items attached/fastened to the property such as plumbing fixtures, storm windows, curtain rods, garbage disposals. It also includes mailboxes, flowers and shrubs, as well as lighting fixtures.
If you are selling your house and want to take a fixture with you, make sure you communicate this to your agent. A special mailbox, a rose bush from your late grandmother's garden, an antique chandelier in the dining room. You must make it clear up front to the buyer that these particular items will NOT be included in the sale. Otherwise it is presumed that the crystal chandelier that was in the dining room when the buyer first saw the property will still be there when the buyer takes possession!
Other items listed as included in the sale: underground pet containment system; fireplace screens and enclosures; built in basketball apparatus and outdoor playsets; window boxes, sheds, electric garage door opener and remote control devices. This is just a partial list; if this is a concern of yours, talk to your agent to get a complete list of items covered in the contract.
If you are selling your house and want to take a fixture with you, make sure you communicate this to your agent. A special mailbox, a rose bush from your late grandmother's garden, an antique chandelier in the dining room. You must make it clear up front to the buyer that these particular items will NOT be included in the sale. Otherwise it is presumed that the crystal chandelier that was in the dining room when the buyer first saw the property will still be there when the buyer takes possession!
Other items listed as included in the sale: underground pet containment system; fireplace screens and enclosures; built in basketball apparatus and outdoor playsets; window boxes, sheds, electric garage door opener and remote control devices. This is just a partial list; if this is a concern of yours, talk to your agent to get a complete list of items covered in the contract.
Thursday, April 24, 2008
Rochester High Falls International Film Festival April 30 - May 5
The Rochester High Falls International Film Festival is arguably one of the most incredible cultural events in our area, and Nothnagle Realtors is proud to be a part of it.
This year we are sponsoring a movie called Autism: The Musical.
Sunday, May 4, 12:50 PM
Little Theatre - Little 5
From the RHFIFF website: "The Festival's mission is to feature exceptional movies for all audiences, and exceptional work of women in all areas of film, video and new media, highlighting Rochester's standing as the home of motion picture film (George Eastman) and the women's rights movement (Susan B. Anthony). This year the RHFIFF will present some 90 features, documentaries, shorts, children's and young adult programs, student filmmaking competitions, panel discussions, master classes, and informal "Coffee With" events featuring visiting filmmakers and stars short films, independent films and children's programs."
The movie fest takes place April 30 through May 5 at various venues including the Little Theatre, The Dryden Theatre at George Eastman House, The Memorial Art Gallery, Cinema Theatre and Highland Bowl.
Visit rochestermoviefest.com for tickets, movie times and more.
This year we are sponsoring a movie called Autism: The Musical.
Sunday, May 4, 12:50 PM
Little Theatre - Little 5
From the RHFIFF website: "The Festival's mission is to feature exceptional movies for all audiences, and exceptional work of women in all areas of film, video and new media, highlighting Rochester's standing as the home of motion picture film (George Eastman) and the women's rights movement (Susan B. Anthony). This year the RHFIFF will present some 90 features, documentaries, shorts, children's and young adult programs, student filmmaking competitions, panel discussions, master classes, and informal "Coffee With" events featuring visiting filmmakers and stars short films, independent films and children's programs."
The movie fest takes place April 30 through May 5 at various venues including the Little Theatre, The Dryden Theatre at George Eastman House, The Memorial Art Gallery, Cinema Theatre and Highland Bowl.
Visit rochestermoviefest.com for tickets, movie times and more.
Wednesday, January 30, 2008
Return to Romance
Nothnagle's Nina Malatesta is a proud sponsor of the Nazareth College Equestrian Team and this event:
Enjoy a Return to Romance on Valentine’s Day
Horse-Drawn Carriage Ride
Candlelight Dinner
Dessert Buffet
For reservations and information call Terese Bouchard at 872-6286.
Horse-Drawn Carriage Ride
Candlelight Dinner
Dessert Buffet
Thursday, February 14, 6:00-9:30 p.m.Nazareth College Campus
To Benefit the Nazareth College Equestrian Team
Three Romantic Packages Available:
To Benefit the Nazareth College Equestrian Team
Three Romantic Packages Available:
- Carriage Ride, Candlelight Dinner & Dessert Buffet $150.00 per couple
- Carriage Ride & Dessert Buffet $75.00 per couple
- Candlelight Dinner & Dessert Buffet $75.00 per couple (Cash bar available)
For reservations and information call Terese Bouchard at 872-6286.
Wednesday, January 23, 2008
Brom Bianchi Appointed Sales Manager
Nothnagle Realtors is pleased to announce the appointment of Brom Bianchi to Sales Manager of the Henrietta office.Brom is an Associate Broker and brings more than a quarter century of real estate experience to our management team. His experience includes residential sales, new construction, team Leader, and a consistent multi-million dollar top producer for many years. Brom is also involved in the GRAR Professional Standards Committee.
Feel free to contact Brom at 698-2000 anytime.
Ron Mazza Takes On New Role
We very pleased to announce the Best Real Estate training program in the area has just gotten better. Ron Mazza has accepted the full time role of Director of Career Development.Ron will continue our existing programs and develop new programs many of which will be offered for experienced agents.
We thank Ron for his 14 year commitment to Branch Sales Management and wish him much success with his new endeavor.
Monday, January 21, 2008
Wingender appointed to Vice President of Corporate and Consumer Affairs.
Nothnagle Realtors is pleased to announce the appointment of Karen Wingender as Vice President of Corporate and Consumer Affairs.In making the announcement, Nothnagle CEO and President Armand D’Alfonso said, “I am delighted to have Karen join our Corporate Team. Her leadership of the Greater Rochester Association of REALTORS®, Inc. (GRAR) membership (3,000 members) demonstrated her abilities to represent the Greater Rochester real estate industry in legislative and political issues and promote relations with elected officials. Additionally, she was responsible for community relations, budgeting and planning, fundraising activities and human relations as well as directing the necessary staff support to the many Association committees and task forces. She will be an integral member of the Nothnagle Corporate Team.”
Nothnagle Chairman Philip R. Nothnagle also commented, “In working with Karen during my four years as Chairman of the Genesee Regional Real Estate Information Service, Inc. (GENRIS) Board of Directors, I have admired her integrity, work ethic and customer focus. She has an extensive knowledge of the industry and has earned the respect of the real estate and business communities.”
In accepting the position, Wingender stated that “My relationship with Nothnagle Realtors over the years revealed the brokerage’s consistent commitment to the consumer. From technology to marketing to agent development, the company is always at the forefront. I am excited to join this dynamic company that boasts a reputation of mutual respect and integrity throughout the real estate community.”
Wingender has served as Chief Executive Officer of GRAR as well as its subsidiary, GENRIS since 2004. Prior to her appointment as CEO, she also served as Chief Operating Officer and as Director of Government Relations
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