Past Corporate Colleagues to the Present Amy and Noreen Team of Lang Realty

Noreen Payne and Amy Stark Snook are well known around town. You can find them showing properties in Delray Beach and surrounding Southern Palm Beach neighborhoods, dining and shopping along Atlantic Avenue, networking at the Chamber of Commerce, and giving back at many local charitable events.

While many may know their name, many may not know that they are a powerhouse female real estate team that supports the local community, their clients and new realtors.

“Being involved isn’t just about giving back; it’s about building a stronger, more connected Delray Beach,” said Noreen. “Through our engagement with local nonprofits and organizations, we not only make a positive impact, but also forge lasting relationships that benefit our clients and the community as a whole.”

“We service our clients and keep them informed throughout the process. Our clients are excited to refer us. The recipe of success relates to a balance of work, life and giving back,” said Amy.

With over 20 years of real estate experience at your disposal, the Amy and Noreen Team at Lang Realty pride themselves on providing clients with a stress-free real estate experience, every step of the way. They have helped their clients navigate the real estate market throughout Palm Beach County.

Noreen and Amy collaborated successfully in Corporate America 27 years ago, where they both received training under a shared corporate culture. This training instilled in them similar values, work ethic, professionalism, and sales/service etiquette, providing a strong foundation for their careers. Reuniting in the real estate industry was a natural fit for Noreen and Amy, allowing them to leverage their complementary skill sets to deliver ideal solutions for their clients

Although Noreen and Amy can perform each other’s roles interchangeably, they collaborate to strategically divide tasks and maximize efficiency in their work. Amy, with her analytical mindset, thrives on analyzing listings, pricing, and negotiating contracts to successful closings. Noreen excels in matching buyers with their ideal homes, leveraging her deep knowledge of the area and various communities. She also specializes in marketing and showcasing the team’s listings effectively to potential buyers. Together, they develop comprehensive marketing strategies to showcase their listings and provide exceptional service to clients.

Noreen is deeply committed to the local community, actively involved in leadership roles within several local non-profit organizations including The Greater Delray Beach Chamber of Commerce, The Achievement Center for Children & Families, Impact 100 PBC, and the Business Development Board of Palm Beach. She maintains strong relationships within the community, leveraging her network for the benefit of clients.

Meanwhile, Amy dedicates her time to the real estate industry, serving in various capacities within Florida Realtors and the Women’s Council of Realtors. Her involvement allows her to stay informed about industry trends and best practices, ultimately benefiting the clients we serve. Additionally, Amy co-chairs Lang’s Community Outreach committee under the Lang Cares program which focuses on supporting those at risk within the communities.

Led by Amy and Noreen with their strong corporate background, industry knowledge and community involvement, the team has grown to include Paige Mercado, the Team Support Specialist and dynamic newer agent Namrata Israni. Together they make up The Amy and Noreen Team.

Lang Realty and our Broker, Scott Agran, are committed to the success of every agent within the brokerage. The leadership team at Lang, along with the administrative support team, dedicate their efforts to providing cutting-edge tools and resources for effectively marketing and selling our listings.

Amy serves as one of the Assistant Managers at Lang and is privileged to participate in the weekly leadership meetings. This firsthand involvement allows her to witness the dedication of Lang Realty in ensuring its agents thrive and stand out in the industry. The culture at Lang Realty is characterized by strong support and camaraderie among team members. Despite being a large Palm Beach-based company, Lang fosters a more intimate and close-knit setting or culture. This unique combination allows for a supportive environment where individuals feel valued and connected.

One notable aspect of Lang’s culture is its agility. Despite its size, Lang can quickly implement new ideas, innovations, and strategies. This nimbleness enables the company to adapt swiftly to market changes and continuously improve services for agents and clients alike. The culture at Lang embraces creativity, collaboration, and responsiveness, fostering an environment where individuals can thrive and contribute to the company’s success.

Amy and Noreen treat their clients like friends and their business focuses on their relationships with their clients.

Their clients praise them for helping them with all their real estate questions.

“Above the rest and beyond the best! That was our experience with the Amy and Noreen Team. Buying and selling a home at the same time can be beyond stressful, but Amy and Noreen made the whole process an absolute breeze! Their team was on top of everything, every single step of the way. They went above and beyond in every aspect to ensure outstanding results. Their level of professionalism, knowledge and expertise cannot be overstated. They are top-notch, and we could not be happier that we chose them. We highly recommend The Amy & Noreen Team to anyone buying or selling a home!” stated a happy client.

Another client stated, “Amy Snook and Noreen Payne are very experienced in their communication skills, their marketing strategies and are anticipatory of the expectations of the potential buy-ers. Both are very professional and knowledgeable. I get updated all the time about viewings, comments and offers from buyers. I highly recommend Amy and Noreen for their excellent work in the real estate business.”

October 2023 Market Report – September 2023 Data – By Amy Snook

 

October 2023 Market Report – September 2023 Data

Inventory in the real estate market, while still lower than pre-pandemic levels, is showing promising signs of improvement. New listings are gradually increasing, resulting in a higher number of active listings at the end of September compared to the beginning of the month. One contributing factor to this positive trend is the decision by the Federal Reserve to hold off on raising interest rates during their last evaluation. As a result, people have adapted to the current interest rate environment, making them more willing to sell their homes and embark on their next real estate ventures.

For those of us immersed in the real estate industry, there is a prevailing sense of optimism, with increased activity from both buyers and sellers. The Amy and Noreen Team, for instance, has been actively engaging in contract negotiations and bringing fresh listings to the market. However, it’s crucial to emphasize that the pricing of listings remains a critical factor in this market. Listings that align with the market’s expectations for the right price tend to attract more showings and offers, leading to faster transactions.

Determining the right price, though, is not straightforward due to the unique circumstances of the past 6 to 9 months. The market did not follow its typical pace during this period. To address this challenge, some real estate professionals have begun looking back two years to identify trends. In certain cases, appraisers are being consulted to establish an appraised value, which then serves as a foundation for pricing strategies. This approach is particularly relevant in the Palm Beach County Luxury Market, where an oversupply of homes, with over 9.6 months of inventory, favors buyers. This has led to numerous price reductions as homes in this segment spend more time on the market compared to properties in other price ranges.

Interestingly, while the total dollar volume of closed sales remains consistent with the same period last year, the number of closed sales has decreased year over year. What’s remarkable is that the average price has risen in recent months, with the median price remaining almost identical to previous months. This indicates that the overall closed sales volume is influenced more by the price point of each sale than by the number of sales. The enduring high demand in Palm Beach County is apparent, but buyers are becoming more discerning, paying close attention to both property quality and pricing. Realtors are consequently investing more in marketing to attract potential buyers, and prospective buyers are actively exploring neighborhoods and attending open houses.

In the sub-$1 million segment, it continues to be a seller’s market.  The local news outlets report a “3-month supply” of inventory at the end of September which would lead you to believe that the seller has an advantage at all price points under the $1 million mark,  It’s essential to remember that these reports often aggregate all price points, which may not accurately represent your specific price range. The sub $600,000 market is at the 3 months of inventory but within the $600,000 to $999,000 range, the months of inventory have reached approximately 4.54, nearing the balanced market threshold of 5 months. In contrast, the luxury market still faces an oversupply, with over 9.6 months of inventory, offering discerning buyers a range of options.

Sellers need to be proactive and thorough when marketing their homes, focusing on staging, curb appeal, competitive pricing, flexibility in showings, open houses, videos, professional photography, advertising, social media promotion, postcards, and other strategies to maximize their property’s exposure. Collaborating with real estate professionals can help tailor a strategy aimed at attracting potential buyers.

 

Amy 

 

Navigating Divorce and Real Estate: Expert Tips for a Smooth Transition – By Amy Snook

Amy Snook answers a popular question on divorce and real estate. Before you make a decision on buying or selling, let’s have a conversation. We would love to educate you and come up with the right plan to help you sell or buy a home in this specific scenario! Amy Snook & Noreen Payne 561-571-2289

Delray Beach Home For Sale – 1902 NW 2nd Ave

Discover this peaceful retreat in Lake Ida, East Delray Beach. 1902 NW 2nd Ave, Delray Beach

4 Bedroom | 2 Bath | 2,325 total sq. ft.

Call us to find out more information 561-571-2289

May 2023 Market Report – April 2023 Data For Palm Beach County – By Amy Snook

May 2023 Market Report – April 2023 Data

I must admit that writing this months’ market report has proven to be one of the most difficult ones yet.   I have written, deleted, rewritten, and come to realize that most of my struggle is coming from the fact that this is, simply put, an “odd” market.  To be clear, it is not a bad market – as Noreen and I are busy every day – but it’s just different.

In doing my monthly research, it’s interesting to note, that there are several different perspectives on today’s market.  Every month preparing for this market report, it takes time to analyze the final numbers from Florida Realtors. Listening to economists and reading articles, I create spreadsheets and bring it all together with a summary for you to read.  This month, each article and report had a very different interpretation and forecast of what is and will be happening in real estate.  Some doom and gloom, others bright and cheery.

As an example, I read an article from a reporter in Boca Raton stating that the market was “a horror” (his take) yet another article was from a real estate organization which touted positive news for our local Palm Beach County market.  And, while in our Lang office the other day listening to agents talk about their businesses -one agent mentioned she had “no buyers” but another agent shared being stressed about managing all the buyers they have.

Personally, from a realtor perspective the analysis is very clear to me.  During the pandemic, many perspective agents entered the market and obtained their real estate license.  They experienced real estate during the height of the pandemic and had tremendous success. We are now faced with a more challenging market and one where we need to create our own leads, spend money on marketing to reach potential sellers and buyers – and from my perspective, this market is not for the faint of heart.  As an FYI we love markets like this when we get to use our unique set of skills.  Different skill sets, different results.

Now, from a real estate market the analysis is not as easy – writing this report, my thoughts come together to realize the conclusion is that results are very localized and more so than typical.  Overall, to a degree, our market is protected from what most of Florida and for that matter the Country, is experiencing.  The valuable lessons learned during the pandemic still hold true.  People want to live a certain lifestyle and Palm Beach County Florida – including Boca Raton, Delray Beach, Palm Beach, Atlantis and more – provides opportunities for this lifestyle whether it be a relocation or a second/vacation home -we have it all.  Results wise we are seeing a divergence of our local market from that of other counties and areas in Florida which is very different from much of the country overall.

To be clear, in every market today it is common to be dealing with the uncertainty of our economy, inflation, rising mortgage rates and upheaval in politics and global uncertainty.  In my opinion the impact of these issues appears to be less impactful in our area than in others.  Overall, cash sales were down; however, the percent of cash sales of total sales locally is significantly higher than other areas at almost 46% of sales being in cash.

Another example of the strength of our market is that most municipalities around the state had a decrease in both the median and the average sales price in the month of April.  In our county, we are up in both categories at $585,000 and $1,015,585 respectfully.

Under the one million price point in Palm Beach, fewer homes closed, fewer listings came on and in most price points under on million, inventory is up from the month prior.  It is still a sellers’ market at all price levels under one million.  Over one million we had fewer closings, less new listings on market but the total inventory did go down bringing the luxury market back towards a more balanced market.

In summary, what does this all mean?   Well, I’m uncertain whether closed sales being down in April is a one-time event or a trend – it is per all reports, taking longer to get transactions closed which could account for the reduction in April results.   We look forward to the June report (May results) to see if our hunch is correct.  In the interim, while we have lower inventory than pre-pandemic, we have higher inventory than the past few years.  So, Sellers – put your best foot forwarded in all aspects and ensure you have the right partners with the right skill set ready, willing, and able to tackle this market.   Buyers, more options, but that does

n’t mean you will not be competing with other buyers for a property.  Align yourself with the savvy agent (s) who are well versed in strategic initiatives.  Any of us on the Amy and Noreen Team would welcome the opportunity to speak with you and show you, firsthand, how to thrive in today’s market as odd as it may be.

Amy

Noreen Payne Speaks at The Government/Economic Affairs First Friday Forum May 2023

Speaker: Noreen Payne, BDB Board Member

Topic: Business Development Board of Palm Beach County update

Fun Events In & Around Delray Beach in February – Presented by Noreen Payne