Empty-nest baby boomers own 28% of the nation’s large homes, while millennials with kids own just 14%. The landscape has transformed over the last decade: 10 years ago, young families were just as likely as empty nesters to own large homes Empty-nest baby boomers own nearly 3 in 10 (28.2%) large U.S. homes. That’s twice as many as millennials with kids, who own just 14.2% of the country’s large homes, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Gen Zers with kids own almost none (0.3%) of them. An additional 7.5% of the country’s large homes are owned by baby boomers with households of three adults or more; this category likely consists mostly of adult children living with their boomer parents.
The report is based on a Redfin analysis of U.S. Census data from 2022 that breaks down the share of three-bedroom-plus homes…
Posted On Wednesday, 17 January 2024 07:16 Written by
I and others have long understood something about leadership: A traditional leader is someone with the ability to inspire and motivate others at their business or organization. A leader is someone who exemplifies honesty, integrity, and responsibility in every action they take, but it is more than that. Being a leader is also about taking the correct actions at the correct time. While acting with integrity is a huge facet of business leadership (and leadership of any other kind), it is the decision-making capabilities of those in charge that can make or break an organization, especially now. Before we go any farther, I want to be specific about one thing: mistakes. Leaders are human, and I am not saying you cannot make mistakes. Failure is a part of life and an integral part of being an Anticipatory Leader, as long as you learn from those failures and use them to keep…
Posted On Tuesday, 16 January 2024 00:00 Written by
Rising supply has led to rising vacancies, motivating landlords to lower asking rents, which fell 1% from a year earlier. The median U.S. asking rent fell 0.8% year over year in December to $1,964, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s the third consecutive decline, following a 2.1% annual drop in November—which was the largest since 2020—and a 0.3% dip in October. December rents were little changed from the prior month (-0.2%). The rental market has lost steam largely due to a jump in supply fueled by a building boom in recent years. That has left many landlords struggling to fill vacancies, motivating some of them to drop asking rents. Some landlords are also offering one-time concessions like a free month’s rent or reduced parking costs to attract renters. This means the prices renters are paying in total are likely coming down faster…
Posted On Sunday, 14 January 2024 06:56 Written by
The share of homeowners with relatively low rates has fallen because some have given up on waiting to move until rates nosedive, and everyone who has purchased a home in the last year did so when rates were above 6% Nationwide, 88.5% of U.S. homeowners with mortgages have an interest rate below 6%, down from a record high of 92.8% in mid-2022, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That means more than 88.5% of homeowners with mortgages have a rate below the current weekly average of 6.66%, prompting many to stay put instead of selling and buying another home at a higher rate—a phenomenon called the “lock-in effect.”
But for most people, it’s not realistic to stay put forever. The share of homeowners with a rate below 6% has fallen from its record high partly because some homeowners are opting to…
Posted On Friday, 12 January 2024 06:42 Written by
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.66 percent. “Mortgage rates have not moved materially over the last three weeks and remain in the mid-six percent range, which has marginally increased homebuyer demand,” said Sam Khater, Freddie Mac’s Chief Economist. “Even this slight uptick in demand, combined with inventory that remains tight, continues to cause prices to rise faster than incomes, meaning affordability remains a major headwind for buyers. Potential homebuyers should look closely at existing state and local resources, such as down payment assistance programs, which can considerably help defray closing costs.”
News Facts The 30-year FRM averaged 6.66 percent as of January 11, 2024, up from last week when it averaged 6.62 percent. A year ago at this time, the 30-year FRM averaged 6.33 percent. The 15-year FRM averaged 5.87 percent,…
Posted On Thursday, 11 January 2024 13:30 Written by
Everyone who emails has one. The question is “Are we planning, strategizing, researching and executing effectively?” If we are not, that means our campaign is being implemented with insufficient forethought, as we wing our way through internet (email) communications. The effort deserves better. Many times we are tempted to gain the attention of others by exploiting Facebook, Instagram, LinkedIn and Twitter. While they can be excellent, be aware of the fact that your most valuable marketing asset is YOUR OWN EMAIL LIST! Remember the words of Hubspot’s CEO… “The Currency of the Future is your Database!” Be an enthusiastic student of marketing options, especially what you can do online today. New online strategies continue to emerge broadening our horizons and stretching our thinking. Some suggestions: Try new tactics; Monitor results; Track trends; Stay on the leading edge; Commit to execute; Make it a robust profit center!
You may…
Posted On Thursday, 11 January 2024 00:00 Written by
To create the next great product or service, it has been standard practice to ask the customer questions like: “What do you want? What do you need? What will make your life easier?” These simple inquiries should lead to a simple answer. It is then our responsibility as businesses and organizations to respond with products, services, or processes that meet customers’ needs while increasing our margins and market share. This has been the process of the past and has worked for generations, but does it truly work in today’s accelerated, technology-driven business environment?
In my many years as a strategic advisor and futurist, I have concluded that asking the customer what they want is no longer reliable. First, customers are telling others in your industry the exact same information, which leads to a high level of competition. Unfortunately, a professional footrace to a perceived finish line is not beneficial to anyone, especially the customer. Second,…
Posted On Tuesday, 09 January 2024 00:00 Written by
In 2024, economic results will likely remain mixed. While a total collapse is unlikely and a recession may be avoidable, some Americans will still struggle to make ends meet in the face of relatively high rates and higher-than-ideal inflation. Here are LendingTree's predictions for the state of housing, jobs and the economy in 2024.
Potential economic positives in 2024: The housing market likely won’t crash this year Inflation will likely come down Across the board, rates should level off, if not eventually fall Wage growth will continue to outpace inflation We may avoid a recession  Potential economic negatives in 2024: The housing market will remain prohibitively expensive for many Home sellers could face challenges Savings will stay depressed Total debt will stay high You can find our full 2024 housing and economic predictions here:  https://www.lendingtree.com/home/mortgage/housing-economy-expectations-study/ LendingTree's Senior Economist, Jacob Channel, added: "Like any year, 2024 will doubtlessly be harder for some…
Posted On Sunday, 07 January 2024 07:00 Written by
For nearly three decades, Rick’s led more than 1,000 classes and workshops guiding real estate companies and teams to superior agent attraction, agent recruiting, agent retention, and systems surrounding all 3 throughout the U.S. and Canada. He is also a Master Coach with Workman Success Systems. Most of Rick’s coaching clients are top producing Teams, and in most cases, they also own real estate offices or franchises. He’s produced a daily inspirational video blog and presented keynote addresses to thousands of professionals from all industries and walks of life. Rick Geha began his real estate career at age of 22 while finishing a degree in Biology at Cal State Hayward and working in his family’s restaurant. By 1987, he had jumped in full-time and soon became the #1 agent at a local agency named Good Real Estate. By 1993, his passion quickly evolved to influence and leadership earning Rick a…
Posted On Thursday, 04 January 2024 00:00 Written by
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