I have been learning lately that the knowledge mass of the human race is doubling approximately every three years. Estimates are that by 2030, the knowledge mass will be doubling every 35 days!  An elderly fellow in a recent audience said “Man, I’m sure glad I’ll be dead then!” It is indeed a formidable consideration for the future.   Today we have so many disrupters, changes, technological advances, and daily brain inputs that it's become a challenge to process it all. What have you been studying and learning lately? Have you given in-depth thought to what you need to be learning? Here is a 6-step process that will serve useful in helping you target your learning goals and objectives for maximum progress… 1. First, do a “Current Assessment” of strengths, weaknesses, opportunities, and threats that exist in your chosen career path. Dr. Peter Drucker used to say “To make measurable progress you…
Posted On Thursday, 09 May 2024 00:00 Written by
When someone asks you what you do, is your answer “I sell real estate”? What does that really tell anyone?  If you really want to differentiate yourself from your competitors, you need to answer that question in a way that shows your expertise on a hyperlocal level with statistics, trends and data in the area.  Of course a licensed agent can sell anywhere in an entire state, but if you want to put yourself in the same league as top producers, then think hyperlocal, not “everywhere”. In his best-selling book, “Category of One”, author Joe Calloway shares how being an “inch wide and a zillion feet deep” as an industry expert pays off every time. You may “know” the general market, but even the best statistics and data may be limiting the vision your clients are craving.   To really own your market, you must elevate your expertise from “general” knowledge…
Posted On Wednesday, 08 May 2024 00:00 Written by
Roughly 1 in 5 new mortgages went to low-income homebuyers in 2023, down from 23% in 2020. Meanwhile, high-income buyers have gained share because they’re more prepared to weather the storm of high home prices and mortgage rates Roughly one in five (20.6%) new mortgages issued last year went to low-income Americans, bringing that group’s piece of the homebuying pie back down to where it was in 2018. That is according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Low-income earners gained ground at the start of the pandemic, taking out 23.2% of all new mortgages in 2020, but that progress has since been erased because high home prices and elevated mortgage rates have eroded affordability. The small bit of progress that Americans earning very low incomes made on taking out mortgages at the start of the pandemic has also been erased. Just under 6% of…
Posted On Monday, 06 May 2024 16:38 Written by
The FED didn’t cut rates and some seemed surprised. Inflation is still an issue, and some seem surprised. Stagflation is now a strong possibility, but some seem surprised. The Treasury department is struggling how to continue to borrow money to feed the debt, but some seem surprised. Housing prices and rents continue to rise, but some seem surprised. Credit card debt keeps setting new records, and yet some seem surprised. Job creation keeps growing, but we have fewer full-time workers than we had prior to covid and some seem surprised. There has yet to be any ruling from the judge dealing with the NAR settlement, and yet some seem surprised. It is very important that each of us stay connected to information we can trust so we don’t get surprised! More information that can move the market happens this morning with initial and continuing jobless claims, and Friday morning we…
Posted On Monday, 06 May 2024 00:00 Written by
People of color are taking out a rising share of mortgages because an increasing share of them are of prime homebuying age, and because America is becoming more diverse. They’ve also seen larger income gains than white people in recent years. The share of U.S. mortgages taken out by white homebuyers has declined over the last five years, while the share taken out by Hispanic, Black and Asian homebuyers has ticked up. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The report is based on a Redfin analysis of 2018-2023 Home Mortgage Disclosure Act (HMDA) data covering mortgage originations for primary homes. This analysis does not cover originations for investment properties or second homes. Just under two-thirds (62.2%) of new mortgages issued in 2023 went to white homebuyers. While that’s a far higher share than any other group, it’s down from 64% in 2022…
Posted On Saturday, 04 May 2024 08:13 Written by
LendingTree surveyed 2,000 people and found that common causes of friction between landlords and renters include maintenance issues, poor communication and a lack of professionalism. We also found that a third of renters say they’ve been discriminated against based on factors like race and age. Here's a closer look at our findings.  58% of renters say they’ve had at least one landlord they didn’t like, with 1 in 4 (25%) disliking their current one. Among those who disliked a landlord, the bad blood was mainly due to maintenance (68%) and communication issues (53%) or a lack of respect or professionalism (42%). 31% of renters say a landlord has entered their home without permission, while 21% have had a legal dispute with theirs. Almost half (48%) would rather rent from an individual than a corporation, with 49% of renters believing it’s cheaper. Additionally, 57% of renters think the government should limit how many homes…
Posted On Sunday, 05 May 2024 08:33 Written by
The South Leads the Way in Affordable Inventory Growth According to the Realtor.com® April housing data, the national required household income to purchase the median priced home rose to $116,000, up $5,900 from a year ago, after accounting for the cost of tax and insurance. For hopeful buyers in California’s major metros of Los Angeles, San Diego, San Francisco and San Jose the household income required to purchase the median-priced home is over double the national figure.  April 2024 Housing Metrics – National Metric Change over Apr 2023 Change over Apr 2019 Median listing price +0% (to $430,000) +36.5% Active listings +30.4% -35.4% New listings +12.1% -21.8% Median days on market +1 days (to 47 days) -7  days Share of active listings with price reductions +3.2 percentage points  (to 15.5%) +1.0  percentage points “California is a fascinating market not only because the income-required figures are an eye-popping quarter of a…
Posted On Friday, 03 May 2024 08:07 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 7.22 percent. “The 30-year fixed-rate mortgage increased for the fifth consecutive week as we enter the heart of Spring Homebuying Season,” said Sam Khater, Freddie Mac’s Chief Economist. “On average, more than one-third of home sales for the entire year occur between March and June. With two months left of this historically busy period, potential homebuyers will likely not see relief from rising rates anytime soon. However, many seem to have acclimated to these higher rates, as demonstrated by the recently released pending home sales data coming in at the highest level in a year.” News Facts The 30-year FRM averaged 7.22 percent as of May 2, 2024, up from last week when it averaged 7.17 percent. A year ago at this time, the 30-year FRM averaged 6.39…
Posted On Thursday, 02 May 2024 09:03 Written by
If you are in business, you have to make money. That’s not a question; it’s a fact. It is also a future certainty. Whether digital or physical, so long as currency exists, you will need to work to make it, use it to pay for things and save it for the stability of your business and employees. After all, a popular quote in business books and often referenced by Kevin O’Leary on TV’s Shark Tank is, “If a business doesn’t make you money, it’s a hobby.”
However, money should not be the stand-alone measurement for how you weigh out the success of your business. It doesn’t matter if you are a small- to medium-sized business or a massive corporation, chasing money alone will only strand you on a plateau of worry. But if you need to make money, why shouldn’t you classify “success” as “making a lot of it”? What else can be…
Posted On Thursday, 02 May 2024 00:00 Written by
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