Ogdensburg REALTOR® Jennifer Stevenson inaugurated as NYSAR president-elect

Jennifer Stevenson, CIPS, GRI, ABR, SRS of Ogdensburg, NY took the oath of office Monday, February 11, as the 2019 president-elect of the New York State Association of REALTORS^® (NYSAR). The association’s inauguration ceremony was held in conjunction with its business meetings at The Desmond Hotel and Conference Center in Albany, NY.

A REALTOR® for nearly 30 years, Stevenson is the broker/owner of Blue Heron Realty in Ogdensburg.

Stevenson served as NYSAR secretary/treasurer in 2018 and is a past president of the Housing Opportunities Foundation and a graduate of the 2012 NYSAR Leadership Academy. She is the current chair of the NYSAR Investment Committee and Budget & Finance Committee. She is vice-chair of the Statewide Forms Committee. She has previously served as chair of the Global, Resort & Second Home Markets Committee and Fair Housing & Cultural Diversity Committee. In addition, Stevenson has been an active member of numerous other committees including Professional Standards, Multiple Listing Issues & Policies, Legislative Steering, and more.

She is an active member and past president of the St. Lawrence County Board of REALTORS® and is also an active member of the Northern Adirondack Boards of REALTORS®. In addition to serving as a director, she has chaired both the MLS and fair housing committees.

At the national level, Stevenson is a member of the State and Local Issues Policy Committee and the Board of Directors. She previously served on the Housing Opportunity Committee.

Flushing REALTOR® David Legaz inaugurated as NYSAR secretary/treasurer

David Legaz, ABR, AHWD, CIPS, CRS, GRI, RSPS, SRES, e-Pro, of Flushing, NY took the oath of office on Monday, February 11, as the 2019 secretary/treasurer of the New York State Association of REALTORS^® (NYSAR). The association’s inauguration ceremony was held in conjunction with its business meetings at The Desmond Hotel and Conference Center in Albany, NY.

A licensed REALTOR® for nearly 25 years, Legaz is an investor of two New York City Keller Williams Realty franchises located in Jackson Heights and Flushing. He is also a broker in the Flushing office.

Legaz was the 2017 President of the Long Island Board of REALTORS® (LIBOR) and the association’s REALTOR® of the Year in 2014. He has served and chaired numerous national, state and local committees. In addition, Legaz currently serves on the Board of Directors for the National Association of REALTORS® (NAR), the New York State Association of REALTORS® (NYSAR), and LIBOR.

Legaz retired as a sergeant with the New York City Police Department in 2002 after responding to the 9/11 World Trade Center tragedy and losing his partner. He used his law enforcement knowledge and became a New York State real estate instructor teaching Real Estate Safety classes in the Empire State and across the nation. Additionally, he serves on the Board of Directors for the Beverly Carter Foundation, whose mission is to ensure REALTOR® safety.

Globally, Legaz was recognized by the Asian Real Estate Association of America (AREAA) as one of the founders of the AREAA New York East Chapter. He served as the association’s president in 2015-2016.

Queensbury REALTORS® Dave and Judy Collins named NYSAR Community Service Award winners

The New York State Association of REALTORS^® honored Dave and Judy Collins of Queensbury as two of three honorees of its 2018 Community Service Award in recognition of their dedication and involvement in the Double H Hole in the Woods Ranch in Lake Luzerne, NY. They received the award during the association’s Mid-Winter Business Meetings in Albany, NY.

The NYSAR Community Service Award is intended to recognize REALTORS^®’ community involvement supporting initiatives aimed at a community’s youth, improving the quality of education, quality of life for older Americans, homelessness prevention, as well as efforts following natural disasters and other community needs.

The Collins have donated their time and talents for the Double H Ranch for over two decades. The Double H provides specialized programs and year-round support for children and their families dealing with life-threatening illnesses. Dave and Judy, in conjunction with a REALTOR^® team they organize, assist in preparing the Double-H camp by painting, raking, planting, cleaning and providing general maintenance prior to the camper’s arrival each Spring.

In addition, Judy volunteers her time for Habitat for Humanity and Dave has helped organize the group, “FAVOR – Thank You For Your Service,” which provides rides to veterans looking for transportation to get to medical appointments. Together, they also host out of town musicians during the month of August for the Lake George Music Festival.

“Dave and Judy Collins epitomize this award and it’s mantra of demonstrating an exceptional commitment to making their communities a better place to live,” said C.J. DelVecchio, 2018 president of the New York State Association of REALTORS^®. “The Collins have been inspirational in giving their time, talent and treasure to numerous organizations for over 20 years.”

Along with an inscribed award, a grant of $1,500 was also made in the Collins’ name to Double H Ranch.

Plattsburgh REALTOR® Mary Fry named NYSAR Community Service Award winner

The New York State Association of REALTORS^® honored Mary Fry of Plattsburgh, as one of three winners of its 2018 Community Service Award in recognition of her dedication to raising money for The Wish Fund, an organization granting wishes for adults with life-threatening illnesses in Clinton County, NY . She received the award during the association’s Mid-Winter Business Meetings in Albany, NY.

Fry, the Clinton County Board of REALTORS 2019 president, has helped raise nearly $500,000 in the past 20 years for numerous organizations including the United Way, Hospice and most recently, The Wish Fund. In conjunction with the Champlain Valley Physician’s Hospital, The Wish Fund provides wishes for terminally-ill adults in Clinton County and surrounding areas.

Through a yearly auction, Fry helps to raise in excess of $30,000 yearly to help make life better for adults with critical illnesses. Since 2015, they have granted 17 wishes and hope to expand the fund to donate between 6-10 experiences per year.

“This award recognizes REALTORS^® who demonstrate an exceptional commitment to making their communities a better place to live, and Mary exemplifies this commitment,” said C.J. DelVecchio, 2018 president of the New York State Association of REALTORS^®. “She has helped grant amazing wishes through her yearly auction and enriched the lives of numerous families in the North Country. Fighting lung cancer herself, she is truly inspirational.”

Along with an inscribed award, a grant of $1,500 was also made in Fry’s name to The Wish Fund.

Staten Island REALTOR® Dawn Carpenter named Lawrence B. Caldwell RPAC Service Award winner

The New York State Association of REALTORS^® honored Dawn Carpenter of Staten Island with its 2018 Lawrence B. Caldwell RPAC Service Award, the highest honor presented by the REALTORS^® Political Action Committee of New York. She received the award during the association’s Mid-Winter Business Meetings in Albany, NY.

Carpenter, A REALTOR^® for more than 20 years is the broker-owner of Dawning Real Estate in Staten Island, NY. Carpenter is a past president of the Staten Island Board of REALTORS (SIBOR) and chair of the Staten Island Multiple Listing Service. She was recognized as SIBOR’s REALTOR of the Year in 2008. She also holds memberships in the Brooklyn board, Columbia-Greene board and Greater Capital association.

At the state level, Carpenter served as NYSAR President (2017), chaired the REALTORS Political Action Committee (RPAC) Trustees and the Organizational Planning Committee. She has served on the NYSAR Board of Directors and executive committee for many years and was named NYSAR’s REALTOR of the Year in 2011.

At the national level, Carpenter serves as a NAR director, member of the Commercial Committee and Federal Technology Policy Advisory Board. Chair of the Property Management Forum, Vice chair of the Large Commercial Firms Advisory Group, continues to serve on the Executive Committee of the Institute of Real Estate Management and currently serves as Federal Political Coordinator (2019-2020).

Carpenter was inducted into the prestigious NAR RPAC Hall of Fame in 2014 ($25,000 lifetime) and prior to that was inducted into the RPAC of New York Hall of Fame ($15,000 lifetime) in 2013. She has been an RPAC Major Investor ($1,000+) annually for 13 consecutive years and has been a Golden R & President’s Circle investor since 2010. Her lifetime financial support of RPAC totals over $44,000.

Home Prices Continue to Rise in December

For the fifth consecutive year home prices appreciated in New York State. Home prices in 2018 rose 6.0 percent above 2017 figures. The $265,000 median sales price at the end of 2018 topped the 2017 median price of $250,000. In 2014, the median price was $225,000.

High home prices usually coincide with low inventory. In 2018, the number of homes for sale dropped 0.3-percent compared to 2017. In fact, compared to 2010, inventory has dropped from 87,621 homes to just 59,889 in 2018. With fewer homes to choose from coupled with home prices rising higher than wage increases, buyers found 2018 a difficult year overall to purchase homes.

There were 132,022 closed sales in 2018, a decrease of 2.5 percent from the 135,408 sold in 2017. There were 34,147 closed sales in the 2018 fourth quarter, a decrease of 4.3 percent from the 35,686 closed sales in the 2017 fourth quarter. The 10,267 closed sales in December 2018 represented a decrease of 11.5 percent from December 2017. For the first time in five years, closed sales fell in 2018 compared to the prior year.

Hamilton County saw the biggest increase in closed sales at 14.7 percent while Chenango County experienced the largest decrease of 16.3 percent. Regarding average home prices, Lewis County saw the highest increase of 25.3 percent in 2018 – from $95,000 to $119,000 – over the prior year.

There was good news for sellers in 2018 as they received on average, 97.3 percent of their original list price at sale, a year-over-year improvement of 0.4 percent. It is the eighth consecutive year that the percent of list price received has risen for home sellers.

Homes that ranged in price from $100,001 to $150,000 sat on the market for the shortest amount of time in 2018 at 60 days on average. Those above $500,000 were on the market the longest, 83 days on average.

Data and analysis compiled for the New York State Association of REALTORS® by Showing Time Inc.

New York State housing market holds on to price gains in November

The New York statewide median home sales price continues to trend on a positive note, rising sharply in November. This month’s median sales price rose 10-percent from November 2018 to $275,000. November marks the 34^th consecutive month that the median sales price has topped the same month of the prior year.

The 2018 market trends of incremental median price growth and relatively steady sales activity continued through November. Closed sales in November 2018 dropped 6.6-percent to 10,576 homes as compared to November 2017. Year-to-date sales are trailing the same period last year by 2.3-percent

New listings were up 1.0 percent to 12,346 while the year-to-date (Jan.1 – Nov.30) number of new listings has also inched higher, rising 1.2 percent to 196,933.

November 2018 month’s supply of inventory rose marginally 1.7 percent from 5.9 months to 6.0 month’s supply. A 6 month to 6.5-month supply is considered to be a balanced market. Days on market dropped 9.1 percent to 70 days which is closely in line with the year-to-date figure of 73 days.

Data and analysis compiled for the New York State Association of REALTORS® by Showing Time Inc.

New listings, prices continue to trend upwards in October

Albany, NY – November 21, 2018 – New home listings increased 5.7 percent in the month of October from a year ago and the median sales price rose, 6.0 percent to $260,000, according to the housing market report released today by the New York State Association of REALTORS^®. The 184,328 year-to-date new listings represent the most since 2015.

In 2018, total inventory rose monthly from January until it peaked in July but has declined each month from August through October. The number of homes for sale is still near historically low levels and is down, year-over-year, compared to 2017. down in year-over-year comparisons. The 70,704 homes for sale in October 2018 represent a decrease of 1.3 percent from October of 2017.

The October 2018 closed sales total of 12,359 represents a decrease of 3.1 percent from the October 2017 total of 12,751. The year-to-date (Jan. 1 – Oct. 31) sales total of 109,874 units is down 2.3-percent compared to the same period last year.

The days on the market continues to decline compared to a year ago, dropping 6.8 percent to 69 days while the month’s supply remained unchanged at 6.3 months. A 6 – 6.5-month supply is considered to be a balanced market.

Rising interest rates are affecting affordability for some potential buyers. Helping mitigate the impact of higher interest rates is the strength of the overall economy including the national unemployment rate which continues to sit below 4.0 percent.

Data and analysis compiled for the New York State Association of REALTORS® by Showing Time Inc.

NYSAR honors Capital District REALTOR® Marie Bettini as REALTOR® of the Year

Albany – October, 2018 – The New York State Association of REALTORS^® honored Marie Bettini as the 2018 REALTOR^® of the Year during the association’s recent Fall Business Meetings in Verona, NY.

She is the 61^st 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.

Bettini has been a REALTOR® for the past 27 years – first launching her real estate career in Amsterdam before moving to Delmar. She joined the Greater Capital Association of REALTORS® 24 years ago and is a two-time past president of the organization, which is based in Albany.

As a REALTOR® for nearly 30 years, Bettini has witnessed many changes in the housing market. The most notable change, according to Bettini, is technology, which she said has helped REALTORS® do their job, but also impacted how vital consumers view REALTORS® during homebuying transactions.

“Technology allows me to stay in close contact with people and having that ability is a plus,” she said. “But it makes consumers feel that they’re the professionals, but the information they’re receiving doesn’t translate into knowledge of a market.

“Consumers need to rely on REALTORS® who understand the ins and outs of how the process works, and the nuisances that arise every step of the way in a transaction.”

The New York State Association of REALTORS^® is a not-for-profit trade organization representing more than 55,000 of New York State’s real estate professionals. The term REALTOR^® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS^®. These REALTORS^® are also members of the New York State Association of REALTORS^®as well as their local board or association of REALTORS^®.

Sales drop yet home prices continue to rise in New York State in 3Q

Albany, NY – Third quarter closed sales dropped 3.9 percent from a year ago to 38,072 units while median sales prices rose in New York State by 5.8 percent to $275,000 according to the housing market report released today by the New York State Association of REALTORS^®. This is the fourth straight quarter that sales prices have risen.

Mirroring the national housing market, pending sales were also down slightly by 0.8 percent from last year at this time. Inventory levels, one of the most closely followed housing statistics, shrank 2.5 percent this quarter from a year ago to 72,288 units. Days on market were also down 10.0 percent to 63 days. With declining supply, remaining properties have sold for higher prices and are spending less time on the market, thus indicating buyers are remaining active.

Year-to-date, there have been 96,898 closed sales in the Empire State, a slight decrease of 2.8 percent from 99,703 a year ago. New listings actually rose slightly compared to September of 2017, up 0.4 percent from 166,582 units to 167,269 units.

Data and analysis compiled for the New York State Association of REALTORS® by Showing Time Inc.

Homebuyer Activity Remains Brisk in August in New York State

Homebuyer activity remains strong in New York State and prices moved higher in the month of August, according to the housing market report released today by the New York State Association of REALTORS^®. The 13,852 closed sales for the month are the third highest total in the last eight years. The median sales price rose 5.7 percent from a year ago to $280,000.

Although new listings were up 0.2 percent, overall inventory remains low and in fact, shrank 3.7 percent compared to the same month last year. Buyer demand lowered the number of days on the market by 8.8 percent year over year.

Most market fundamentals, such as inventory and interest rates, continue to change marginally and do not appear to indicate a significant short-term downturn to the housing market. The Housing Affordability Index may be a key indicator to watch in the months ahead. The Index has been trending downward, meaning fewer households can afford a median-priced home, as incomes fail to keep pace with rising housing prices.

Editor’s Note: All data is compiled from multiple listing services in the state of New York and the data include townhomes, condominiums and existing single-family homes.

The New York State Association of REALTORS^® is a not-for-profit trade organization representing more than 55,000 of New York State’s real estate professionals. The term REALTOR^® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS^®. These REALTORS^® are also members of the New York State Association of REALTORS^® as well as their local board or association of REALTORS^®.

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Scott Morlock.
Director of Communications
518-463-0300 x208 office
[email protected]

July 2018 NY Housing Market Report

Albany, NY – August 20, 2018 – Housing price bubble chatter has increased this summer, as market observers attempt to predict the next residential real estate shift. It is too early to predict a change from higher prices and lower inventory, but the common markers that caused the last housing cooldown are present. Wages are up, but not at the same pace as home prices, leading to the kind of affordability concerns that can cause fewer sales at lower prices. At the same time, demand is still outpacing what is available for sale in many markets.

New Listings were up 4.8 percent to 19,945. Pending Sales increased 4.3 percent to 12,823. Inventory shrank 4.4 percent to 72,015 units. Prices moved higher as the Median Sales Price was up 9.6 percent to $285,000. Days on Market decreased 10.0 percent to 63 days. Months Supply of Inventory was down 4.5 percent to 6.4 months.

Consumer spending on home goods and renovations are up, and more people are entering the workforce. Employed people spending money is good for the housing market. Meanwhile, GDP growth was 4.1 percent in the second quarter, the strongest showing since 2014. Housing starts are down, but that is more reflective of low supply than anything else. With a growing economy, solid lending practices and the potential for improved inventory from new listing and building activity, market balance is more likely than a bubble.

Data and analysis compiled for the New York State Association of REALTORS by Showing Time Inc.

The New York State Association of REALTORS^®is a not-for-profit trade organization representing more than 57,000 of New York State’s real estate professionals. The term REALTOR^®is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS^®. These REALTORS^®are also members of the New York State Association of REALTORS^®as well as their local board or association of REALTORS^®.

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CONTACT:
Duncan R. MacKenzie, CEO
518.463.0300 x200 office
[email protected]