herRochester.com Pays Tribute to Karen Leonardi

Below is an exceprt from herRochester.com's article on our Executive Vice President, Karen Leonardi.



At age 33 and with a 7-month old baby at home, Karen Leonardi became the first female CEO of the Greater Rochester Association of Realtors. Now 40, she was recently named executive vice president at Nothnagle Realtors, one one of the largest real estate companies in the country.

Leonardi has been with Nothnagle for four years, previously as vice president of corporate and consumer affairs, before her recent promotion.

She oversees internal departments that provide support to the sales staff, which includes marketing, advertising, relocation, and home services.

“I keep everything running behind the scenes,” Leonardi said.

Living in Rochester her entire life, she enjoys the cultural offerings, restaurants, and quality of life here.

Leonardi gives back to the community by participating in Nothangle’s community involvement efforts, and also as president of The Housing Council, which provides foreclosure prevention and other housing-related counseling.

One of the biggest challenges she has overcome in her career was entering and moving up in a male-dominated field. She found herself constantly interacting with board members, business owners, and government officials that were mostly older men.

“It was intimidating because I kept thinking that they saw me as this young girl and inexperienced,” she said.

Leonardi decided to cut her hair short, buy a lot of pants suits, and dye her hair darker all in an attempt to appear older.

It wasn’t until she started meeting with a professional coach that she learned how to truly gain confidence. She said he told her, “What if they’re looking at you and thinking, ‘wow, this young woman really has it together’?”

“I honestly can say that was a pivotal moment for me,” Leonardi said. “I just never looked back and I never felt that intimidation or lack of confidence.”

Her best advice for young women entering the business world is to trust your intuition and find a few key people that will keep you balanced and give you honest and constructive criticism, like a mentor, spouse, or partner.

Read the rest of the article on herRochester.com

Moving Outside of the Area?

Are you moving outside of the area? Not sure who to talk to or where to start? Well you're in luck! Not only can we help you with everything here but we can get the ball rolling for you where ever your destination may be!

It doesn't matter where you are going, Nothnagle Relocation can help! As part of the Leading Real Estate Companies of the World, Nothnagle Relocation has access to information on well over 10,000 communities nationwide. We will ask the questions to not only pinpoint your exact needs but so that we can find you an agent that will deliver you the same quality service you've come to know...and expect...from Nothnagle.

Nothnagle Home Services can help too! Once you're ready, we can assist in helping you relocate. Working with local to nationwide movers, our Home Services department can assist you with getting quote through our exclusive benefits program. Not only that, but we work with various other companies that can help get everything wrapped up here as you transition to your new location.

Nothnagle Relocation: 1-800-295-RELO (7356)
Nothnagle Home Services: 1-866-295-MOVE (6683)

Thinking of Renting Your Home?

If you are thinking about renting your home, let us give you some tips to help!

To start with, you want to understand everything involved. From preparing the listing to collecting rent and keeping up on maintenance...being a landlord can be time consuming. Also take time to prepare your home. If you are renting just part of your home, make sure that you can secure the rental area from the rest of your home. Take note of any key points about the space. Is there laundry available? What about central air? Try and think of things that can make your property stand out above the rest!

Think about hiring people to help! Whether it be a lawyer to help with the lease or an accountant to help with finances and taxes; professionals can help. Nothnagle can help as well! We offer FULL SERVICE Property Management. We can help market and maintain your property. Feel free to call 585-756-7263 for more information.

You will also want to price competitively. Check similar prices in your area for comparable properties. Make sure to consider the bonuses when pricing but don't forget that renters will also be looking for great deals as well. Make sure you screen your tenants carefully. Remember, they are a stranger, so checking references is never a bad thing. Once, you have found the perfect tenant, ask for an appropriate deposit and rental payment schedule.

Have you ever thought about renting your property?

How the Mortgage Settlement Affects Housing

In a previous post we addressed the National Mortgage Settlement that involves 5 banks (Bank of America, JPMorgan Chase, Ally, Wells Fargo, and Citigroup) and gave a summary of where the money was going to be allocated to. In this post, we will take a look at how the settlement will affect the current housing market.

There are many different thoughts on how this settlement will actually impact the market. Some think that this may be a little too late. IHS Global Insights states, “Like many previous plans to stem foreclosures, this agreement will help at the edges. The problem is too big for it to have a large impact, however…This agreement will help the housing market move ahead in 2012 in a small way. But it is hardly a game changer.” But how does this impact houses currently in the midst of the foreclosure processs? "The settlement helps the housing market in the long run because it allows banks to proceed with millions of foreclosures that have been stalled. Many lenders have refrained from foreclosing on homes as they awaited the settlement.” says Mark Vitner, a senior economist at Wells Fargo.

Oh course both IHS Global Insights and Mark Vitner are looking at this from a National standpoint where some states are seeing drops in housing prices as much as 11.3% (Illinois) over the past 12 months whereas New York state is seeing an increase of 1.7%. What are your thoughts on how this will affect Western New York or even the state as a whole?

Welcome to the Buffalo market Nothnagle!

We made the announcement this week that we will be opening our first company owned agency in Amherst. The new office will be joining our three franchises that are also in Orchard Park, Amherst, and downtown Buffalo respectively.

"We see a lot of opportunity in that market." says Executive Vice President Karen Leonardi. With a market in Buffalo that is similar to Rochester in the sense that the economy has weathered the recession very well. Both Rochester and Buffalo have not had the ups and downs that are commonly seen in other parts of the country.

The new office will be managed by Lisa Avery who is a veteran of real estate and brings with her 15 years of real estate leadership. Currently operating out of a temporary space at 6789 Main St, we will be securing a permanent space in the Amherst/Williamsville area.

The National Mortgage Settlement

Let's take a quick look at the National Mortgage Settlement that was passed last week.

The National Mortgage Settlement is a $25 billion dollar settlement passed by the federal government and 49 (not in Oklahoma) of the 50 states. Five banks are involved (Bank of America, JPMorgan Chase, Ally Financial, Citigroup, and Wells Fargo) The whole idea behind it is to help reverse the effects of bad loans and the issues created in the foreclosure process.

Here's where the money is headed:

- $3 billion to a National Underwater Mortgage Refinancing Program. This will help those who are current on their payments but owe more than their homes are worth.

- $5 billion in payments to both State and Federal Governments. Some of this money will eventually be split and end up in the hands of people who lost their homes to foreclosure to one of these 5 banks.

- $17 billion to foreclosure relief efforts. This is a minimum amount to be given collectively by the listed 5 institutions to help short sales, principle reduction, homeowner transition programs, and other programs.

We will talk about the impact the settlement will have in a future post but for now...what are your thoughts?

Mortgage Preparation

Here are some tips that will help you as you prepare to apply for a mortgage!

Check your credit report! The better your score, the better your chances are to not only get a mortgage but to get a great rate as well...especially with rates as low as they are now. You will want to get a copy of your credit report from the three main agencies (Experian, Equifax, and TransUnion) and read over the reports. Correct any errors and try to resolve any issues before applying.

Be prepared! There are certain documents you will want to have ready when you go to apply for a loan. Things like your last two pay stubs, W-2 forms, tax returns, and bank statements. Don't wait for them to ask for them, have them ready! Another great idea is to scan any documents the lender asks for so you have an electronic copy that can be easily sent over if requested.

How much can you afford? Your lender will help you with this and can tell you how much you qualify for but you want to also go within a range that is most comfortable for you. Make sure to keep in mind any of the extra expenses that may come up when purchasing a home.

Staging your home

Staging your home can give you a great advantage when you are trying to sell. It gives you the opportunity to show prospective buyers why your home...is the ideal one!

The first thing anyone, whether it be family, friends, your agent, or a potential buyer will notice is your layout. Does it have a flow that makes transitioning from one room to another a breeze? A great idea to start with is to emphasize the flow. Remove extra furniture and clutter. If you can go throughout your home with out "zig zagging" around things then you are in pretty good shape. This will also make it seem like a more open space, giving your home a larger and less cramped feel.

Use your home's special features to your advantage! If you have a large deck or patio, give the buyer the vision of how great it is to have one! Gorgeous kitchen counter-tops? Remove any extra items that may block them and make it seem like there is less counter space than there really is. What about a jetted tub? Draw more attention by adding just a couple candles.

Altogether, staging shows off your home's highlights and makes it seem livable. It can also give your potential buyer plenty of helpful suggestions as they envision what their life would be like inside your home.

For more assistance please check out the Home Staging section of our Home Services department and check us out on Facebook and Twitter!

What is Loan to Value?

What is loan to value or LTV? Well if you're interested in getting a mortgage, LTV is one of the key factors used in the approval process. Here we will teach you how to calculate LTV and tell you what it's all about!

To put it simply, loan to value is the amount of money you plan on mortgaging versus the professionally assessed value of the home. For example: If you purchase a home that is worth $170,000 and your mortgage is $130,000 that means your loan to value is 76%. It is a figure that is really easy to figure out as well! Grab a calculator (or your phone) and type in the value of the home. Now, divide that by the amount of your mortgage. Finally multiply by 100 and you've got your LTV!

But what's this all mean to me?

Well, finding out the loan to value can benefit you in many ways. From a mortgage, to refinancing, equity loans, and more! When it comes to mortgages the loan to value percent is on of the key risk factors looked at. The amount that a lender would have to absorb if a borrower were to default and go into foreclosure increases as the LTV percentage increases. A lender may even require a borrower to purchase mortgage insurance (also known as a mortgage guarantee) if the LTV is too high. That will protect the lender on some of the loss if the borrower defaults.

Community Events Feb 9 - 13

Looking for something to do in the Rochester area the next couple of days? Well here is a list of events happening the rest of this week and into the weekend.

Interested in become an agent with us? Excited by the possibilities of a career in real estate? Have questions? Want to hear more information? Then on Thursday, February 9th at 7pm, meet us at our Career Center located at 2930 East Henrietta Rd, Henrietta, NY 14467. Registration is free and required. Call 855-564-6668 or visit JoinNothnagle.com!

The Brighton Memorial Library is the place to be from the 9th through the 13th. A preview sale will be held on the 9th from 10am till 8:30pm that is free to members (you can join at the door for $10 a year) and $5 for non members. After that, it's open to the public. Times are: 10am-5:30pm Friday, 10am-3:30pm Saturday, 1pm-3:30pm Sunday (half price day), and 10am-1pm on Monday (fill a bag for $3).

Looking for an art show this weekend? Check out The Davidson Gallery at Roberts Wesleyan College! This all student art show will have their opening reception and awards ceremony on Friday the 10th from 7pm to 9pm and the admission is free. This years exhibition is titled "High Definitions: Students Defining Art." The gallery will be open through February 25th.

This Sunday from 11:30am to 5pm you can enjoy the Greece Rotary's 35th annual Italian Festa "Ziti" Dinner. Tickets are available either through a Rotarian or at the door and run $8 for an adult and $4 for a child (5 and under). Over 2000 people each year look forward to the event, this year being held at the Diplomat Banquet Center, 1956 Lyell Ave, Rochester, NY 14606.

If you plan on visiting Eastview Mall this Saturday between 9:30am and 5pm, why not play 18 holes of miniature golf? It will be the Mental Health Association's annual Skyway Open. Not only will there be golfing but there is a silent auction as well! Over 500 golfers are expected to take part so golfers and anyone wishing to volunteer, please call 585-325-3145 to sign up.

And of course, don't forget to check out Nothnagle.com for open houses, watch the Showcase of Homes every Sunday at 10:30am on WROC channel 8, follow us on Twitter, and like us on Facebook!

Rochester Included in Another Top List

Rochester has started off 2012 with a great deal of promise. From The Street placing Rochester on their "10 Cities Poised for Greatness in 2012" and Home.org posting the city on their "Top 9 Real Estate Markets to Watch in 2012" lists. To ClearCapital Inc announcing Rochester as "One of the top major real estate markets to experience growth," Rochester has been getting praise from a lot of places!

Well...we did it again! Inman News has placed Rochester at #3 on it's "10 Real Estate Markets to Watch in 2012" list. Credit was given in part to an unemployment rate that sits 1.3% lower than the national average as well as a 1.4% increase in the median sale price of a home. "Of 100 major metro areas, Rochester is one of only 22 to have regained more than half of the jobs lost between it's pre-recession high and post recession low." That statement was echoed in a report released by New York State Comptroller Thomas P. DiNapoli last week where Rochester is said to have regained 98% of the jobs that had been lost since the recession. Rochester was placed at first in the state! Not only above the state average but well above second place Glens Falls which has 55% and third place New York City at 52%.

With all of the great press surrounding Rochester and a great start for the housing market here in 2012. It will be exciting to see all of the great press that is still set to come our way.

New Promotions and a New Hire

Nothnagle President and CEO Armand D’Alfonso has announced the promotion of Karen Leonardi and Jay Teresi.

Karen Leonardi has been promoted to Executive Vice President. Leonardi joined Nothnagle in January 2008 as Vice President of Corporate and Consumer Affairs. Prior to joining Nothnagle, she was the Chief Executive Officer of the Greater Rochester Association of REALTORS®. Working at GRAR for 12 years, she held various positions including Chief Operating Officer and Director of Government Relations prior to being named CEO. Leonardi is a lifelong resident of Rochester and a graduate of the State University of New York at Brockport. New duties will include the supervision of the internal departments and day-to-day operations of the company. Responsibilities include ensuring systems are in place to support the sales force.

Jay Teresi has been promoted to Vice President of Sales. Teresi joined Nothnagle in November 2009 as Director of New Business Development. He has over twenty years experience working in the financial and real estate industries. After a successful career on Wall Street, he then turned to the mortgage and real estate industries. Teresi previously owned and managed his own real estate company in Manhattan. He also served as Director of Regional Development with Weichert Real Estate Affiliates, growing their franchise company in several Northeast states. He is responsible for the development and implementation of strategic initiatives for company growth at the branch and corporate levels.

Nothnagle is also proud to announce that Jeanne Olson has joined the company as Director of Professional Development, bringing 20 years of real estate sales, management and training experience. Olson has been hired to head the company’s training program for both new and experienced agents and will be based out of the Nothnagle Career Center located at 2930 East Henrietta Road.

Olson began her career with Nothnagle Realtors in 1992 and eventually went on to form her own brokerage, Destination Home Realty. She merged in 2005 with Hunt Real Estate ERA, Columbus Division where she served as Branch Manager and Business Development Manager.

“Throughout her career, Jeanne has been known in the industry as a mentor, coach and dynamic sales professional. She is well respected throughout the real estate community and we are very excited to welcome her to our team,” said Armand D’Alfonso, President and CEO of Nothnagle Realtors.

Olson has enjoyed a successful sales career, earning many awards. Within the first month after obtaining her real estate license, she made Top Agent in her branch and achieved Nothnagle’s Top 25 award her first year. She holds a certificate from the International Training Institute and is a New York State-approved real estate instructor also serving as a member of the training faculty at the Greater Rochester Association of REALTORS®.

Nothnagle REALTORS® Congratulates 2011 Rookie of the Year Recipients

At the Nothnagle REALTORS® Annual “Celebration of Excellence” awards event held January 27, 2012, the Company recognized two individual agents as Rookies of the Year: Sheila DiNapoli and Mandy Friend. The award is presented to an agent who is recognized for their outstanding sales achievements and leadership in their first full year in the business.

Sheila DiNapoli of Nothnagle’s Webster branch has been licensed since the spring of 2010. While maintaining outside employment, raising her family as a single mother and helping to care for her parents, Sheila closed $4.5 million in sales in 2011. She is also an active volunteer with various events connected to the Alzheimer’s Association.

At the luncheon, Sheila was also presented with the Platinum sales award for her 2011 production. This is a significant achievement for someone so early in their career. “Shelia is a complete real estate professional. She is honest, hardworking and determined to put the needs of her clients first. It is a pleasure to work have Shelia DiNapoli as part of my branch,” said Nothnagle Webster’s branch manager, Lou DiMartino.

Mandy Friend of Nothnagle’s Pittsford branch was licensed in October 2010. Mandy comes to the real estate industry with a background as a coach, fitness trainer and accomplished athlete. She had her first closing in February 2011 and closed nearly $2.4 million in sales by the end of the year. “Mandy approached her first year in real estate with the enthusiasm, tenacity and a drive to succeed. She has done just that. Utilizing our training, technology and support services to excel not only in her career but with her clients and customers,” said Nothnagle Pittsford’s senior sales manager, Bob Maves.

Mandy is a member of the Rochester Young Professionals network and serves as co-chair of their professional development. She also is involved with the Professional Women of the Finger Lakes and the Young Professionals Committee at the Rochester Business Alliance. She is the founder of Friendly Lax, a lacrosse business to train female athletes and is a member of the Canadian National Lacrosse team and is preparing for the 2013 World Club tryouts next month.