Archive for November, 2009

Annual Awards Gala To Honor Local Real Estate Professionals

Monday, November 30th, 2009

More than 480 people gathered at the Rochester Riverside Convention Center in downtown Rochester on November 6th, to pay tribute to the local real estate industry’s 2009 top producers. The event was co-hosted by the Greater Rochester Association of REALTORS® (GRAR) and the local chapter of the Women’s Council of REALTORS® (WCR), the largest chapter of its kind in the country. The venue also served to formally install board members and officers of both organizations. Wells Fargo Home Mortgage served as the major sponsor for the event.

“This was a celebration of the achievements of our members and recognized their dedication and commitment to our industry,” remarked Ryan Tucholski, CEO of the Greater Rochester Association of REALTORS®. “These are individuals who are in the business of helping people achieve their dreams of homeownership. It is a job that they take very seriously. This event was an opportunity to acknowledge their hard work and their devotion to the real estate profession.

” The category of GRAR awards  was presented to: the Sales Master, Sales Master Gold, Sales Master Platinum, Honor Society, and REALTOR® of the Year. Additionally, the WCR presented its Affiliate and Member of the Year Awards. GRAR also acknowledged the efforts of the REALTORS® Charitable Foundation, which served as the philanthropic arm of the organization. Since 2001, the Foundation has granted more than $400,000 to local and regional housing-related charities.

GRAR also announced that Carolyn Stiffler of Keller Williams Realty will serve as president of the board of directors for a one-year term.

Steve Babbitt of RE/MAX Realty Group served as president-elect, Rob Reimer of Nothnagle REALTORS® as secretary/treasurer, and Chuck Hilbert of Keller Williams Realty as immediate past president. Dave Andrulis of RE/MAX First, Toni Connors of Nothnagle REALTORS®, and Deborah Weidert of RE/MAX Plus are all newly-installed board members. In addition, Deborah Weidert served as the WCR president, Maureen Toombs of RE/MAX Realty Group as president-elect; Janet Romano of Nothnagle REALTORS® as vice president of national membership, Mary Jo DeRose of CNB Mortgage as vice president/affiliates and sponsors, Stephen Wrobbel of Nothnagle REALTORS® as treasurer, and Sharlene Nally of Bank of America as secretary.

Nothnagle Relocation Recognized for 3rd Quarter Results

Wednesday, November 25th, 2009

Nothnagle’s Relocation division received among the best scores of all Preferred Brokers on the 3rd Quarter 2009 SIRVA Relocation Broker Score Card. Nothnagle Realtors is affiliated with SIRVA, Inc., which provides end-to-end relocation services worldwide. From home purchases and sale services, to moving, mortgage services and program management, Nothnagle and SIRVA can do it all! Nothnagle’s Relocation division exceeded goals for home sales, average days listed (15 vs. 90), and average days on market (66 vs. 120) during the 3rd Quarter.

Whether you are moving across the country or around the globe, Nothnagle Realtors can help you achieve your goals through affiliations with partners like SIRVA. SIRVA conducts more than 300,000 relocations every year and operates in more than 40 countries with an extensive network of agents and other service providers in over 175 countries.

In need of relocation services? We have experience moving individuals as well as entire companies to and from Rochester. Contact Nothnagle’s Relocation division today.

Nothnagle Realtors Expands to Buffalo

Monday, November 9th, 2009

Nothnagle announced today the launch of Nothnagle Realtors Property Center, a franchised office under the ownership and management of industry veteran Mark Pagano.  Nothnagle Realtors Property Center will open in two locations by early 2010, in the City of Buffalo and in the Clarence/Williamsville area.

“Our current growth strategy focuses on establishing partnerships with other like-minded brokers to provide them with a successful platform to become market leaders in their area.  The franchise arrangement allows brokers to maintain their independence while tapping into our successful infrastructure.  Mark Pagano is an experienced broker with an exceptional business-sense. We share the same vision and believe that by empowering agents with the most innovative tools in the industry, we can offer the best buyer and seller experience in the Buffalo market,” said Armand D’Alfonso, President and CEO of Nothnagle Realtors.

This is the first franchise sale for Nothnagle Realtors.  However, Nothnagle Realtors is familiar with franchise operations having launched the first real estate franchise system in the country back in the 1950’s.  At its peak, the “Gallery of Homes” franchise had an international network of 1,100 offices prior to being sold off in the 1980s.

“Nothnagle not only creates innovative tools, they use them every day as a real estate company, so they understand the challenges I face in today’s market because they face them too.  From the award-winning consumer-focused website,, to the comprehensive marketing tools and agent systems, Nothnagle’s advanced technologies have not been available in one platform in our market before now. It is a great fit for us.  Our clients and agents will all benefit as a result,” said Mark Pagano, President of Nothnagle Realtors Property Center.

Nothnagle recently hired Jay Teresi, Director of New Business Development, to handle our franchise operations.  Jay has over 20 years experience in the financial and real estate industries.  He owned his own real estate company in Manhattan and before joining Nothnagle, he worked for Weichert Real Estate Affiliates, growing their franchise company in several Northeast states.

Nothnagle’s goal is to initially concentrate on franchise sales in New York State and then move beyond into New Jersey and Pennsylvania.  This will not affect the company-owned branches; all 24 will remain under the same ownership and management.

National Projections For This Year and Next

Monday, November 9th, 2009


National projections for this year and next

Total existing home sales for 2009 should increase about two percent to about 5 million units. Sales will pick up about 11 percent in 2010.

New home sales will decline about 18 percent in 2009 from 2008 to 398,000 units before rising about 21 percent in 2010. Note that while these percentage gains are large, we are starting from a very low level.

Median home prices for new and existing homes are expected to continue their decline this year, falling about eight percent and 13.0 percent, respectively. Prices should stabilize by mid-2010 and post a slight increase for all of 2010.

Purchase originations should post a two percent drop to $718 billion and should pick up about 12 percent in 2010, as both new and existing home sales increase and home prices stabilize.

Refinance originations should increase by about 60 percent to $1.25 trillion in 2009 but will drop about 39 percent in 2010 as mortgage rates rise further.

Total mortgage production will be up about 30 percent to $1.96 trillion this year from an estimated $1.5 trillion in 2008. Total originations should see a decline of about 21 percent in 2010 to $1.56 trillion as a drop in refinance originations will outweigh the increase in purchase originations.


MBA’s mission is to promote education and a forum for sharing ideas, information and ideals. It is our goal to promote our industry as professionals and to enhance our relationships with our business partners and our community.



MBA’s mission is to serve its membership by representing their legislative and regulatory interests before the United States Congress and federal agencies; by meeting their educational needs through programs and a range of periodicals and publications; and by supporting their business interests with a variety of research initiatives and other products and services. MBA performs four primary roles as it works to serve its members and their business interests. We are the voice of the real estate finance industry; a learning center; a forum for sharing information and ideas; and we are the real estate finance industries.

“New Home Sales Slowly Rebound”

Monday, November 9th, 2009

Homebuilders in the Rochester region are slowly seeing building permits stabilize and in some local areas and markets permits are even brisk.

The three county region of Monroe, Ontario, and Wayne have experienced a decline in new home building permits. Monroe County was down 19% with 544 permits compared to 672 in 2008. Ontario County was also down 19% with 189 permits compared to 234 in 2008. Wayne County was down 30% with 63 permits compared to 90 in 2008.

“The Rochester market continues to out perform other areas of similar demographics to our area,” said Dawn Aprile, 2009 Chairman of the Rochester Home Builders’ Association and President of Premium Development Corporation. “The Rochester region builds to the local demand and there was very little speculation building, so our inventory of new homes is very low. Other areas around the country have seen a wave of foreclosures, declining home values, and tight credit markets. Our region has not experienced any of those conditions,” Aprile added.

Some products and areas continue to move quicker than others. The entry level new home market is getting help from the federal tax credit for first time home buyers and downsizing of traditional sized homes continues to be popular. The towns of Henrietta, Penfield, and Greece lead Monroe County in permits and Victor and Farmington lead in Ontario County.

Local builders remain confident. Most believe that we have ‘bottomed out’, and little by little traffic in model homes has increased, meaning new home permits should be on the rise in 2010.

2009 Real Estate Activity Report – 3rd Quarter

Monday, November 9th, 2009

Statistics released by the Genesee Region Real Estate Information Services (GENRIS), the information subsidiary of the Greater Rochester Association of REALTORS® (GRAR), reflected some positive Third Quarter outcomes in the housing market within the 11-county region, which is helping to fuel cautious optimism among local REALTORS®.

Overall, transactions for the Third Quarter increased slightly with 3,628 homes sold. That figure points to a 3.7 percent increase over Third Quarter 2008 and a 48.1 percent increase in contrast to Second Quarter 2009. The median sale price of $120,840 reflected a 2.9 percent decrease compared to last year at this time, but increased 2.5 percent from Second Quarter 2009. That is due, most likely, to the influx of first-time homebuyers flooding the market to take advantage of the tax credit before the program expires on November 30. Although there was a 10.3 percent decrease in pending sales compared with Second Quarter 2009, it was a 6.8 percent increase over Third Quarter 2008. The number of homes listed was at 6,257, up 4.7 percent over 2008 and down 5.1 percent over Second Quarter 2009.

“The reason for the increase in the sale of homes in Third Quarter 2009 compared with Second Quarter 2009, is a result of people wanting to take advantage of the First Time Home Buyers Tax Credit before it ends on November 30,” said Chuck Hilbert, GRAR board president. “Additionally, sellers also saw this as an opportunity to list their home in order to capitalize on the number of individuals who might take advantage of the tax credit, which is what has helped to drive the market.”

Typically, the Fourth and First Quarters tend to reflect a slowdown in the real estate market. Resurgence in sales is usually seen toward the beginning of the Second Quarter, which signals the start of the spring market.

In Third Quarter 2009, the city of Rochester realized a tremendous increase in homes sold compared to Second Quarter 2009, with a 51 percent increase. The median price of homes increased 15.9 percent. There were several towns within Monroe County that also enjoyed sales gains over Second Quarter 2009. They include: Chili, Greece, and Irondequoit. Additionally, outlying county sales increased in Genesee County at 81.6 percent, Orleans County at 66.7 percent and Ontario County at 36.9 percent over Second Quarter 2009. All three counties exhibited increases compared to Third Quarter 2008.

“The First-time Homebuyers Tax Credit has had a tremendous affect on home sales, locally, particularly in the $70,000 to $150,000 price range,” stated Ryan Tucholski, GRAR chief executive officer. “This program has really been a ‘shot in the arm’ for the national and local real estate market. “It is critical that we do everything and anything possible to maintain that momentum.”

Earlier this spring, GRAR developed a new Time 2 Buy marketing campaign, which focuses on the benefits of owning a home and using the services of a REALTOR when buying and selling a home. The campaign will continue through the rest of 2009 and 2010.

REALTORS® locally, state, and nation-wide continue to advocate and lobby for legislation that will extend the federal tax-credit program, which according to the National Association of REALTORS® has brought 1.2 million new buyers into the market—350,000 of whom would have not have purchased a home without the credit. Unfortunately, uncertainty of the future of the tax credit may weaken consumer demand.

Both Hilbert and Tucholski agree that the Federal government must act now in order to continue to provide incentives, not just to first-time buyers, but also move to expand the program to all homebuyers.

“Our local, state, and national economic recovery is dependent on the health and well-being of the real estate market,” remarked Hilbert. “Our Congressional leaders are in the driver’s seat and they cannot afford to stop what they have already set in motion.”

The Greater Rochester Association of REALTORS® represents more than 3,000 real estate professionals in the Greater Rochester and Finger Lakes region.