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Rents haven’t fluctuated much over the past year, rising 1% in January–a far cry from double-digit growth during the pandemic. The median U.S. asking rent rose 1.1% year over year to $1,964 in January, the largest annual increase since March 2023, and was unchanged from a month earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. While rents ticked up from a year earlier, the bigger picture is that rent growth is leveling off after surging during the pandemic and then rapidly slowing from mid-2022 to mid-2023.
Year-over-year rent growth has hovered between -2.1% and +2.4% for the past year, a much narrower range than the prior year, when rent growth was as low as 4.8% and as high as 17.7%. Asking rents have flattened because the pandemic moving frenzy is over and landlords are grappling with vacancies due to a jump in…
The landscape of work is undergoing a transformative shift, fueled by the relentless progress of artificial intelligence (AI) and generative AI technologies. In my eyes, the key to understanding this evolution lies in recognizing that humans are not being replaced by AI but are, in fact, being empowered by it. The future of work is marked by increased efficiency, a redefined role for humans, and a seamless integration of remote and in-office collaboration. AI as a Tool, Not a Replacement As generative AI, exemplified by technologies like Chat GPT, becomes more prevalent, the question arises: Will humans be replaced by AI? No, humans will not be replaced; rather, they will be augmented by AI. AI serves as a powerful tool, particularly adept at imitation and quick execution, getting tasks 80% completed in a fraction of the time. However, the true magic lies in the remaining 20%, where human intuition, creativity,…
FHLBank San Francisco Member Financial Institutions Can Now Originate More Loans for Underserved Borrowers to Close the Racial Homeownership Gap The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and VantageScore announced today that FHLBank San Francisco will now accept mortgage collateral originated by lenders using VantageScore 4.0 credit scores, which considers rental payments and other data points into its scoring algorithms that are not included in traditional scoring models, ushering in an innovative solution aimed at closing the racial homeownership gap. By expanding the kind of mortgage collateral eligible to be pledged by member financial institutions borrowing from FHLBank San Francisco, lenders will be able to increase the amount of creditworthy mortgage applicants and include many underserved borrowers left out by conventional models. VantageScore estimates that using the VantageScore 4.0 credit model will result in approximately 33 million more consumers nationwide having access to a credit score…
I have said it before, but it is worth repeating, how you handle that first interaction with a prospect can vastly improve your conversion rates. Why is this important? Because improving your conversion rates amounts to free money! You work so hard to generate an opportunity, why not spend just a little time refining your process and improve your conversion rates? Scary part is, too many originators, managers, and companies don’t track this important information, much less put steps in place to improve it! So, if you aren’t tracking, or know what to track, here is what I suggest you look at. Initial contact, preapproval, contract, and of course, closings. You may have different terms, but you get the idea. Of all of these, the initial contact can be the biggest and best place to improve your process to increase your overall conversion rates. This contact sets the stage…
In an increasingly environmentally conscious world, improving your home's energy efficiency is not only responsible but also a wise investment. As sustainable living grows in popularity, energy-efficient homes are gaining momentum, often yielding a higher resale value and can help sell your home fast due to their lower environmental impact and reduced energy bills. Inspired by the will to reside in environmentally conscious and energy-efficient homes, let's explore five practical ways you can transform your living space into a sustainable haven. 1. Embrace energy-efficient appliances and lighting One of the simplest yet most effective steps towards a sustainable home is updating your appliances and lighting. Energy-efficient appliances, identifiable by the Energy Star label, use less energy, reducing both your carbon footprint and utility bills. Similarly, LED light bulbs are a smart swap, consuming up to 80% less energy than traditional incandescent bulbs. This small change not only reduces energy consumption…
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.64 percent. “Mortgage rates remain stagnant, hovering in the mid-six percent range over the past several weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “The economy and labor market remain strong with wage growth outpacing inflation, which is keeping consumer spending robust. Meanwhile, affordability in the housing market is an ongoing issue due to continued high home prices, elevated mortgage rates and low supply of homes on the market, particularly for first-time and low-income homebuyers.”
News Facts The 30-year FRM averaged 6.64 percent as of February 8, 2024, up slightly from last week when it averaged 6.63 percent. A year ago at this time, the 30-year FRM averaged 6.12 percent. The 15-year FRM averaged 5.90 percent, down from last week when it averaged 5.94 percent. A…
Drawing on Steve’s more than 20 years of working with professionals to dramatically improve their success, the “MindShift” he offers frees people from unnecessary pessimism and puts them back in touch with the source of their enthusiasm for work and life.
Although Steve Chandler graduated from the University of Arizona with a degree in Creative Writing and Political Science, and spent four years in the military studying language and psychological warfare; he credits his own life experiences with failure as the most valuable tools for helping others. Steve’s audiences are inspired by stories of his “low points” – it gives them hope, because they realize that they are not nearly as bad off as he was – they figure if Steve can transform his life, so can they! Steve Chandler is now the author of 30 books that have been translated into over 25 languages. His personal success…
The two most important days in your life are the day you were born and the day you find out why you were born. Personally, I know I was put on this Earth to teach other business leaders and working professionals. Life is about purpose —finding your purpose and living your purpose both in your professional life and your personal life. Purpose is what gives us motivation and makes our working lives enjoyable. And as we spend a large chunk of our adult lives at work, purpose in work is fundamental. But as many Baby Boomers are starting to realize, when hitting retirement age, what fills that gap left behind? Many individuals spend the last few years of their work life just waiting for retirement, for the day when they no longer have to go into the office, sign on, or report to a manufacturing floor, and can finally pursue their other interests. But…
Charles T. Jones, a great speaker and writer and lover of books proclaimed that “You will be the same 5 years from now as you are today except for the people you meet and the books you read!” He influenced me to begin building a robust library some forty years ago, and it has been one of the most rewarding activities I have ever been involved in. An interesting phenomenon has taken place in the last century. In the eighteen hundreds and early nineteen hundreds, people relied on books to learn and gain sophistication through being “well-read”. Today we have so much information inundating us that we hardly have time to sort and process it. Technology has changed our world substantially in that regard. The learners of 150 years ago simply did not have the choices we had. Books were sacrosanct in the lives of many. Today lots of…
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Homebuyer Demand Index is ticking up as the spring home-selling season draws nearer. That hasn’t yet converted to a meaningful improvement in pending sales–but Redfin agents expect it will in the next few months. Redfin’s Homebuyer Demand Index—a measure of requests for tours and other buying services from Redfin agents—rose 6% from a week earlier during the week ending January 28, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. An additional measure of showings also signals tours have ticked up over the last week. More buyers are touring homes because mortgage rates are holding steady below 7%, down from 8% this past October, and some buyers are worried prices will increase more if they wait longer. Sale prices rose 5.5% year over year during the four weeks ending January 28, the biggest increase in over a year. But that earliest-stage demand hasn’t yet translated into…
New construction has taken up a growing share of the for-sale housing pie because homebuilding has increased and the number of individual homeowners selling has decreased Nationwide, 31.8% of U.S. single-family homes for sale in the fourth quarter were new construction, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s comparable with 31.9% a year earlier, which is the highest level of any fourth quarter on record. Newly built homes are taking up a growing share of the for-sale housing pie for two primary reasons: Homebuilding has increased. Homebuilding has been on an upward trajectory since 2009 as builders have slowly climbed their way out of the hole caused by the Great Recession. Construction also jumped during the pandemic as builders responded to surging homebuyer demand fueled by record-low mortgage rates. The number of homeowners putting their houses on the market has decreased over the…
-- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.63 percent. “Although affordability continues to impact homeownership, the combination of a solid economy, strong demographics and lower mortgage rates are setting the stage for a more robust housing market,” said Sam Khater, Freddie Mac’s Chief Economist.
Khater elaborated, “Mortgage rates have been stable for nearly two months, but with continued deceleration in inflation we expect rates to decline further. The economy continues to outperform due to solid job and income growth, while household formation is increasing at rates above pre-pandemic levels. These favorable factors should provide strong fundamental support to the market in the months ahead.” News Facts The 30-year FRM averaged 6.63 percent as of February 1, 2024, down from last week when it averaged 6.69 percent. A year ago at this time,…
![Tami Is A Believer In Leading By Example. She States That People Leave A Company Not Over Money, But Over Lack Of Leadership. [Video]](/media/k2/items/cache/be107f8bab26f1e31f1279236d5b78ee_S.jpg)
Tami Shares How Mindset And Deliberate Intent Thru Authenticity And Flaws Are Part Of Establishing Trust And Loyalty A bit about Tami: EXIT Realty Corp International’s CEO TAMI BONNELL is an internationally renowned leader in the real estate industry and was instrumental in building three major brands. Among her many achievements, she was recognized by Real Estate trend watcher, Stephan Swanepoel, three years consecutively as one of the 200 most Powerful and influential people in residential real estate, among the top 20 corporate executives and among the top 10 women leaders. Ms. Bonnell has been a featured speaker at the NATIONAL ASSOCIATION OF REALTOR’S® convention to the Top 500 power brokers, The National Women’s Council REALTORS®, Inman News Connect Conference and the RIS Media’s Leadership Conference. She was named to the National Association of Women in Housing & Real Estate Ecosystem ( NAWRB) Diversity & Inclusion Leadership Council (NDLIC).…
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