There is so much talk about generative AI today, it has become somewhat of a hot-button issue among working professionals and business leaders. We are witnessing firsthand the power of generative AI with applications like ChatGPT, Gemini, and other content-creating software. On Meta, Instagram, and other social media sites, there are works of digital art being created by generative AI applications like Midjourney, Canva and DALL·E 3 to name a few. But despite the fact that many are already implementing it while others are kept up at night about it, even I have to beg the question: So what? Why does the Hard Trend future certainty of generative AI matter so much to society, both professionally and personally? Is there real danger I should be aware of regarding this disruptive digital application? How can it make my life better at work or at home? Again, generative AI is here to stay. So what? Generative AI Is Sculpting Our Professional…
Posted On Tuesday, 02 April 2024 00:00 Written by
If you look at social media at all, you would think the real estate world has come to an end. As usual, those who largely make a living generating clicks as opposed to clients are running crazy with their views on the NAR settlement with the DOJ. The problems come from the fact that many people actually believe what they have read and are panicking themselves and others over things that are NOT set in stone What you need to focus on is current reality. NOTHING is done until a judge agrees to whatever settlement terms are placed on the table. That said, as of this writing, there isn’t even a firm time for a judge to issue any type of comment, much less approve a deal. The next part of this is that NOTHING about this deal prohibits anyone or anything outside of NAR from operating as they always…
Posted On Monday, 01 April 2024 00:00 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 6.79 percent. “Mortgage rates moved slightly lower this week, providing a bit more room in the budgets of some prospective homebuyers,” said Sam Khater, Freddie Mac’s Chief Economist. “We also are seeing encouraging data on existing home sales, which reflects improving inventory. Regardless, rates remain elevated near seven percent as markets watch for signs of cooling inflation, hoping that rates will come down further.” News Facts The 30-year FRM averaged 6.79 percent as of March 28, 2024, down from last week when it averaged 6.87 percent. A year ago at this time, the 30-year FRM averaged 6.32 percent. The 15-year FRM averaged 6.11 percent, down from last week when it averaged 6.21 percent. A year ago at this time, the 15-year FRM averaged 5.56 percent.
Posted On Sunday, 31 March 2024 06:32 Written by
Over one-third of home purchases in February were made in all cash—not far from the record high The median down payment for U.S. homebuyers was $55,640 in February, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022. The typical homebuyer’s down payment last month was equal to 15% of the purchase price, up from 10% a year earlier. This is based on a Redfin analysis of county records across 40 of the most populous U.S. metropolitan areas going back through 2011. “Homebuyers are doing whatever they can to pull together a large down payment in order to lower their monthly payments moving forward,” said Rachel Riva, a Redfin real estate agent in Miami. “The smallest down payment I’ve seen recently is 25%. I had one client who put down…
Posted On Sunday, 31 March 2024 06:26 Written by
The typical U.S. monthly housing payment hit an all-time high of $2,721 during the four weeks ending March 24, up 10% from a year earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Housing payments are at a record high because of the one-two punch of elevated mortgage rates and rising home prices. Mortgage rates remain elevated near 7%, and the median home-sale price is up 5% year over year to roughly $375,000, just about $9,000 shy of June 2023’s record high. Many sellers are trying to take advantage of rising prices by listing their home. New listings are up 15%, the biggest increase in nearly three years, and the total number of homes for sale is up 6%, the biggest increase in nearly one year. Increased supply is bringing back some demand, which is the main reason price growth remains robust. Mortgage-purchase applications are…
Posted On Friday, 29 March 2024 10:55 Written by
Pending home sales in February grew 1.6%, according to the National Association of Realtors®. The Midwest and South posted monthly gains in transactions while the Northeast and West recorded losses. All four U.S. regions registered year-over-year decreases. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – increased to 75.6 in February. Year over year, pending transactions were down 7.0%. An index of 100 is equal to the level of contract activity in 2001.
“While modest sales growth might not stir excitement, it shows slow and steady progress from the lows of late last year,” said NAR Chief Economist Lawrence Yun. “Ongoing job gains are clearly increasing demand along with more inventory.” Pending Home Sales Regional Breakdown The Northeast PHSI decreased 0.3% from last month to 63.4, a decline of 9.0% from February 2023. The Midwest index soared 10.6% to…
Posted On Thursday, 28 March 2024 08:02 Written by
Buyers must earn nearly twice as much as before the pandemic to afford the typical starter home, due to the one-two punch of high prices and mortgage rates. One sliver of hope: Affordability of starter homes is slowly improving after hitting a low point at the end of 2023. Homebuyers must earn $75,849 annually to afford the typical U.S. starter home as of February, up 8.2% ($5,767) from a year earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The monthly housing payment for the typical U.S. starter home was $1,896 in February, also up 8.2% from a year earlier. The income necessary to buy starter homes is increasing from a year ago due to rising prices and mortgage rates: The typical starter home sold for $240,000 in February, up 3.4% year over year, and the average 30-year fixed mortgage rate was 6.78%, up from…
Posted On Thursday, 28 March 2024 05:27 Written by
The advantage of Zero-Based thinking is that you are starting with a clean slate! There should be few pre-conceived notions with your primary focus on how to best go to market and take great care of your customers based on what’s going on today (and the days, weeks and months forthcoming). 
Three opening action items to participate in are recommended: 1. A new SWOT Analysis – SWOT Analyses (An assessment of current Strengths, Weaknesses, Opportunities, and Threats) can be very revealing. It is suggested that you have several of your smartest people participating in this exercise. Incidentally, if you do one every year, it should look different every year. This speaks well of the concept of constant fine-tuning of your business strategies and actions rather than doing what you have always done! 2. Have in-depth discussions with your top 5 customers. Identify the agendas of the top 2-3 people…
Posted On Thursday, 28 March 2024 00:00 Written by
Dr. Nido Qubein, President of High Point University empowers leaders through his extraordinary insights with exceptional strategies to overcome adversity in this time of challenge. His message shares how to discover the opportunities in a challenge, inspiring leaders to take charge of their organizations even during a pandemic. Dr. Nido Qubein came to the United States as a teenager with little knowledge of English and only $50 in his pocket. His journey has been an amazing success story. The Biography Channel and CNBC aired his life story titled "A Life of Success and Significance." As an educator, he is president of High Point University, an undergraduate and graduate institution with 5,200 students from 40 countries and 50 states. He has authored two dozen multilingual books and audio programs distributed worldwide. As a business leader, he is executive chairman of the Great Harvest Bread Company with 220 stores in 43 states. He serves…
Posted On Wednesday, 27 March 2024 00:00 Written by
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