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What Experts Are Saying about the 2021 Job Market

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  Earlier this month, the  Bureau of Labor Statistics  (BLS) released their most recent  Jobs Report . The report revealed that the economy lost 140,000 jobs in December. That’s a devastating number and dramatically impacts those households that lost a source of income. However, we need to give it some context. Greg Ip,  Chief Economics Commentator  at the  Wall Street Journal  (WSJ),  explains : “The economy is probably not slipping back into recession. The drop was induced by new restrictions on activity as the pandemic raged out of control. Leisure and hospitality, which includes restaurants, hotels, and amusement parks,  tumbled 498,000 .” In the same report, Michael Pearce,  Senior U.S. Economist  of  Capital Economics,  agreed: “The 140,000 drop in non-farm payrolls was entirely due to a massive plunge in leisure and hospitality employment, as bars and restaurants across the country have been forced to close in response to the surge in coronavirus infections. With employment in m

6 MARKETING TIPS FOR NEW REAL ESTATE AGENTS

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  6 MARKETING TIPS FOR NEW REAL ESTATE AGENTS So, you just became a real estate agent. Congratulations! You now have one of the most exciting and important jobs in the country. The beauty of real estate is there is no ceiling to your salary or success. Your potential lies 100% in how hard you work. The downside is it requires the persistence of an entrepreneur to make an impact in today’s competitive market. Not only do you need to know the profession and the process, you need to have a marketing strategy that gets you in front of potential clients. The good news is…it’s not as difficult as it sounds. Whether you’re a new agent or experienced veteran, here are some great tips for building or expanding your real estate marketing strategy. Stay Up to Date on the Market If we learned one thing from 2020, it’s that if you’re going to be an agent your clients trust, you have to stay on top of the latest real estate news. Many of the questions home buyers and sellers ask depends on you knowi

Why Right Now May Be the Time to Sell Your House

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  The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021.  Record-low mortgage interest rates  are a driving factor in this continued momentum, with average rates hovering at historic all-time  lows . According to the latest  Realtors Confidence Index Survey  from the  National Association of Realtors  (NAR),  buyer demand across the country is incredibly strong . That’s not the case, however, on the supply side. Seller traffic is simply not keeping up. Here’s a breakdown by state: As the maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is creating a mismatch between supply and demand. NAR also just  reported  that the actual number of homes currently for sale stands at  1.28 million , down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with  2.3 months supply  available at the current sales pace. In a normal market, that nu

Will Forbearance Plans Lead to a Tsunami of Foreclosures?

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  At the onset of the economic disruptions caused by the COVID pandemic, the government quickly put into place forbearance plans to allow homeowners to remain in their homes without making their monthly mortgage payments. Today, almost three million households are actively in a forbearance plan. Though  29.4%  of those in forbearance have continued to stay current on their payments, many have not. Yanling Mayer,  Principal Economist  at  CoreLogic , recently  revealed : “A distributional analysis of forborne loans’ payment status reveals that more than one third (39.1%) of all forborne loans are now 150+ days behind payment, while as many as 1-in-4 (25.5%) are 180+ days past due.” These homeowners have been given permission to not make their payments, but the question now is:  how many of them will be able to catch up after their forbearance program ends?  There’s speculation that a forthcoming wave of foreclosures could be the result, and that could lead to another crash in home value